Dispelling the Myths of Accounting in Small Business.

BRIEF SUMMARY OF THE EPISODE

Tim and Dan held a panel at the Accounting Business Expo in Sydney this last week. They are talking all things vibes. What is a vibe? How can I know what mine are and how to implement them within my business? Well, buckle up, as the guys are taking you through this step by step, with a drink in hand of course. 

BULLET POINTS OF KEY TOPICS & CHAPTER MARKERs

    • Tim & Danlow [1:42] We are joined by Harvey today! One of our Junior Accountants at CATS. He has stepped into the world of full-time employment now he has graduated from Uni. Dan smashed his Half Marathon. He has been wearing his medal in the office today to remind us all.
    • Business Update [5:16] As always special Thanks to CATS Accountants for sponsoring our Business Update. CATS is hiring! If you are an intermediate or Senior Accountant, give us a call!
    • Harvey’s Tight Ass Tip [6:50] Become a Uni Student! Discounts abound. 
    • Main Topic [10:18] This week we have the live recording from Dan and Tim’s presentation at the Accounting Business Expo which was held in Sydney on 22nd and 23rd November. The name of this presentation was “it’s all about the Vibe” and focused on exploring the values in your business, which the guys like to call your business vibe. So, with a drink in hand, we are ready to dive into the vibe setting within your business.
    • Values form part of your Strategic Compass. There are 3 main building blocks making up your strategic compass in business:
      1) Your Purpose (Why)
      2) Your Values (Vibes)
      3) Your Strategic Anchors (framework for decision-making)
      Having strongly defined values/vibes help to paint a picture for your team. They describe how you want the team to behave without using a word, which can easily be misinterpreted. Your vibes are the blueprint for how you want your team and organisation to behave.
      There are 4 kinds of values.
      Core Values /Aspirational Values / Accidental Values / Pay to play values
      Aspirational, Accidental and Pay to Play values are good to understand and know about, but really it’s all about defining your Core Values. These are the values that you feel so strongly about that you would be willing to be punished for them – for example losing a team member or client that doesn’t fit with your core value set. Your core values are effectively your business vibes!
      Knowing your core values can bring alignment for your team, explains why you clash with certain clients/people, and can be used as a way to recognise elements of your business which are not living up to the values which you find most important above all else.
      How to determine your core values — here is some homework:
      1) Brainstorm: Think of your best employee, what do they do? What makes them so great? Write their values down You can also do the opposite and think of your least favourite employee (hopefully someone you used to work with!) and determine your important values based off the opposite traits to that person. This will provide you with a list of attributes that you find desirable for your team and organisation.
      2) Group: Now take your brainstormed list and group similarly themed values. You are hoping to find 2-3 key themes, which will become your core values. Each business should have at least 2-3 core Values or Vibes.
      3) Assign Vibes: Now you need to give each theme/group of values a vibe. We define a vibe as a way of depicting the true nature of the theme you have discovered from brainstorming and grouping your values. You are trying to depict something simple, which when said, the team will know exactly what you are talking about and be able to act accordingly. This works in 2 ways – it makes your organisational culture much easier to explain and understand. And it becomes a blueprint upon which you can hold your team accountable to in terms of their behaviours and actions. 

    • Other Thing [39:06] Tell me you’re an Accountant without telling me you’re an accountant: Spotify Wrapped is here. If you don’t know what that is, Spotify Wrapped breaks down the last 12 months of your listening. Of course, that means, we have to pull the stats! 
      • Drunkies are here! – Its the most wonderful time of the year! The Drunkies. Will Orford Man on the Street actually win his award this year?
      We are hiring! – Are you an intermediate pushing to a Senior Accountant? Are you looking for your next career move? New year New you? Well, CATS Accountants, home of our very own Two Drunk Accountants is looking for their next superstar. And after listening to this episode, you will know exactly what kind of person we are looking for.
      If this sounds like you, please reach out to Sarah – sarah@catax.com.au for a confidential chat. 
 
 

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