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The Bean Counters' Quarterly

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March 2007
May 2006
March 2006
September 2006
December 2006

The Bean Counters' Quarterly )
Hartrell & Kirkham Chartered Accountants September 2006
In this issue
  • The Forest or The Trees?
  • Making Your G.O.A.L.S
  • Sensitive and Sensible Holiday Celebrations
  • Recommended Reading:
  • Stuff To Know About Hartrell & Kirkham Chartered Accountants
  • Greetings!

    Welcome to the September 2006 issue of The Accountant's Statement!
    The firm has grown over the summer as Steve Kirkham acquired the practice of George Polyzotis– a CA that Steve was employed by in the late 80’s and early 90’s.
    We welcome all those clients to our firm and to our quarterly newsletter.
    We hope you will find value in the information we provide, as well as an opportunity to get to know the team.

    We hope everyone had a fun, relaxing, and safe summer. How time flies! Here we are near the end of September already.
    This is such a great time of year to grow your business. Now that summer is over, many people find they have the time and energy to devote to their business.
    There are many things to focus on at this time of year
    – making sure you come out of the trees once in a while to see the forest;
    doing so by setting your goals (described as building a house);
    and rewarding your staff with a thoughtful and well planned holiday celebration.
    The Fall is also a great time to spend indoors, reading a great book, so we have a recommendation that ties into your business.
    We’d love to speak with you about developing your business to suit your goals.
    Best regards,


    Steve Kirkham

    The Forest or The Trees?
    Trees

    You’ve heard the saying ‘you can’t see the forest for the trees’?
    It basically means you’re in too deep and all you can see are the trees in front of you and all around you. BUT if you were to step out, or rise above the trees you could see the whole forest and where you want and need to go.
    It’s the same with your business.
    Michael Gerber, best-selling author of “The E-Myth” Series was the first to write about it. Very often when you’re a business owner, your time is consumed by the ‘busy’-ness of running the business and working IN the business. There is very little time available for working ON the business. It’s easy to become overwhelmed and lose track of why you went into business in the first place.
    Some of your reasons might include: to build a more secure future, make more money, be your own boss, have more freedom and choices, live a better lifestyle, etc.

    What do you want out of your business?
    Is it providing the income you want, the lifestyle, the satisfaction and rewards?
    Do you still have dreams and goals for your business?
    Have you reviewed them on a regular basis to make sure you’re still moving in the direction you want?
    Making your goals is a little bit like building a house. You need to have some very detailed blueprints [plans], a time schedule, the tools and resources to get the job done, and the commitment to actually work on all aspects of the project, but all house building [and goal making] must include a strong foundation.

    Making Your G.O.A.L.S
    House

    So making your goals is a little like building a house: You'll need blueprints [plans], a time schedule, the tools and resources to get the job done, and the commitment to actually work on all aspects of the project, as well as a strong foundation.
    When you come to the end of the project, you'll have something of value that you've created with your hard work.

    Make sure the foundation for your goals includes the following:

    G - Great Work. What is the difference between Great work and Good work? I think most of us know it in our soul. Briefly, Great work is something that stretches us, calls upon our passion, and helps us grow as human beings and as business people.
    Good work is stuff that we do well, and are very comfortable with.
    There’s no challenge or passion required.
    There’s no shame in Good work, but there’s also no glory. (Michael Bungay Stanier)

    O - Outstanding Service. The successful business will offer consistent, outstanding service to their clients or customers. This is what sets you apart from your competitors and what allows you to be recipient of ongoing loyalty. Outstanding service helps you make a statement to your customers – that says you highly value them.

    A - Amazing Rewards. Rewards are for you and for your staff/team members. The rewards can be financial but should also be intrinsic. These should be rewards that help fuel your passion for what you do. The rewards should be things like praise, challenge, excitement, pleasure, and satisfaction from a job well done.

    L - Loving your Lifestyle. Being a successful entrepreneur means you should be living a lifestyle that you choose and enjoy. Depending on the stage of your business development, it should include increasing levels of financial security, the kind of leisure time you want, and the ability to balance work with personal life.

    S - Sweet Success. All of your hard work and goal making should lead you on a journey filled with YOUR definition of ‘sweet success’. That will mean different things to different people. Sweet success is when you have things working the way you dreamed they would, allowing you to attain your goals and focus on the things that are important to you.

    Sensitive and Sensible Holiday Celebrations
    Candle

    Even though summer is just ending, December will be here very quickly and it’s time to start thinking about and planning the company holiday celebrations.
    Whether you go all out with a large banquet or simply have a few snacks around the office, you need to think through your plan of action.

    First, of course, is to decide what kind of celebration you want to have and can afford. Your questions and thoughts should be:

    For the office: Do we celebrate? What’s the budget? Do we decorate? Traditional or secular? Do we exchange gifts? Do we give bonuses?

    For a ‘Party’: What’s the budget? What kind of activity? Where (venue)? When (choose your date and book early)? Do we invite spouses/others? Do we offer and/or pay for alcohol (if so, we must offer transportation)? Etc. (note: Make sure you communicate the fact that you want everyone to enjoy themselves, but policies that are in effect at the office need to be present at all company functions. Behavior that is unacceptable at work is also unacceptable for social functions, such as sexual harassment, etc.)

    Is there anyone on your staff that may feel uncomfortable or out of place celebrating a holiday that is not their own? It is well established now that it is not a problem to celebrate the Christian holiday of Christmas or to wish people a Merry Christmas, but it’s always a kind and wise thing to be sensitive to other people, including your clients or customers.
    Be sensitive when you decide whether your workplace should be celebrating the birth of Christ, the gift giving of Santa, or the warmth and kindness of Seasons Greetings. Most people of different cultures or religious backgrounds will respect anyone's right to celebrate their religious holiday or the legitimate statutory holiday, but make sure that everyone has been given respect when it’s their holiday time. Small businesses can’t always afford to give time off for other holidays, but you can show respect and kindness in other ways.

    A very respectful and lovely way of celebrating the holiday season is to start a tradition of community giving. This is something that can override all religious differences. Coming together as a group and choosing a ‘charity’ to support can be a wonderful way that everyone can celebrate the season. You may find that your group will want to support the charity all through the year.

    There are a lot of things to think about, but it’s usually worth it in the end. Creating celebrations and traditions within a business environment are important and will help create a better community within your company.

    Recommended Reading:
    EMyth

    Michael Gerber’s new E-Myth Mastery, The Seven Essential Disciplines for Building a World Class Company will show you how to build a world- class company the E-Myth way.

    E-Myth Mastery describes for the very first time what it is that entrepreneurs really do, what they really don’t do, what they should never do, and why they need to do what E-Myth prescribes.

    In E-Myth Mastery you’ll discover:
    -How to fully engage your passion in the pursuit of your business goals

    -How to pursue your singular entrepreneurial purpose

    -How to clarify your entrepreneurial vision

    -How to inspire others to aspire to your vision as if it were their own

    -How to electrify the imaginations of people who matter by practicing the seven essential disciplines of entrepreneurial leadership to create the energy your company needs to grow into a stunning world- class enterprise

    Stuff To Know About Hartrell & Kirkham Chartered Accountants
    Handshake

    There are lots of things happening around the office as summer ends and the fall season kicks in.

    Snejana spent some much deserved R&R time back in Bulgaria over the summer. Check out her photo on our website (notice the calculator in her hand – even at the beach she can’t tear herself away from the numbers!)

    There are changes coming for Pat. Her daughter Naomi is moving to California, starting a new chapter in her life with exciting doors opening up for her. She has tremendous opportunites and as her best friend and companion, Pat is looking forward to being a part of them. During the summer.. they are reality junkies BB, Rock Star, Survivor, Amazing Race.. they love them all.
    Favourite day of the week: Saturday morning spent with Naomi, picking up muffins and coffee and sitting at Yorks Kitchens talking about life plans, etc. Lots of giggling.

    After a good summer, Steve is settling back into the office groove. His two older kids have signed up for music lessons and you may even be able to catch him at the office on a Saturday or Sunday as they practice their “tuning” at home. He’ll let you know when their first big concert at the ACC is!

    The Toronto Lynx Soccer Club, aka Bruno's tax shelter, will expand from eight teams to ten teams in 2007. The Lynx which is managed by Bruno's wife Nicole has just completed its tenth season in the USL and has five men's teams and three women's teams. The Lynx 17 year old team is competing in November for the North American Championship in Tampa Florida against 16 other teams, mostly from the U.S.. The U17 boys won their regular season division title against some very fierce competition from Michigan and Illinois Clubs. The senior team missed the playoffs but finished with the best record in the League over the last 14 games of the season. Unfortunately they were the worst team over the first fourteen games. The senior women's team lost in the playoffs to Ottawa who lost in the final to Vancouver. Both compete in the 35 team W-League. Nicole and Bruno will be recognized for their efforts in November by the United Soccer Leagues with their induction into the USL Hall of Fame. The USL is the umbrella organization for over 400 elite soccer teams through the United States, Canada, Puerto Rico and Bermuda.

    H&K is expanding! The busy times become even busier, Steve is adding a member to his staff in the form of a senior accountant to help out with audit clients and general all around client service. We’ll provide more details soon.

    Hartrell & Kirkham Chartered Accountants
    Hartrell & Kirkham© 2006

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