📈 Gordie Smyth on LinkedIn: #bookkeeping #accounting #tax | 35 comments (2025)

A simple ladder, which gets me thinking about 3 numbers.I think about turnover:Keeping the cash flowing and growing my top line.I think about profit:At my margin, how will the additional turnover impact my bottom line. For example, if my net profit margin is 30%, I know an additional £100k in turnover results in an additional £30k profit.I also consider economies of scale, which cause my margin to improve as I grow my top line because some costs are fixed or I can get a better cost per unit.I think about exit:In the spirit of build to sell, how does the multiple change as I grow my top line (which makes me more profit at my margin). For example, turnover of £1m may get me a multiple of 2 (£2m valuation) but a £2m turnover may get me a multiple of 4 (£8m valuation). Building the business is an investment and part of my personal wealth plan.I’ve made up the numbers but this is how I think about it. And then I do the business planning and reverse engineer it.I hope this helps someone.Happy Monday! 😀

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Business Planning session this morning with Laurie and Scott to map out the next phase of our growth.We’ve lots going on and there was a part of me that wanted to push it back, but I know the Quadrant 2 stuff (7 Habits) is key to success.I’m knackered having worked long hours this week, but I know come dinner time I’ll be re-energised, refocused and ready to go again! 💪🏻I know running a business is hard work but we must make the time.Flower Accounting, a business by design.

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Morning all.Can anyone recommend a brilliant insurance broker?I’m looking for somebody who will work with me to find solutions for all insurance needs, our own and for clients.

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The problem I’m seeing time and time again is a lack of investment (probably due to a lack of guidance) in the finance function of the business.There’s usually some sort of accounting system in place but it’s a mess. No accurate financial position, no data to work with (in partnership with your accountant), no true knowledge of the numbers.It is bonkers!It’s incredibly tough to grow a business, the stats don’t lie. Give yourself the best chance of achieving the Three Freedoms.If you’re an ambitious business owner and like me you’ve caught the entrepreneurial bug (I’m in the process of acquiring a second business), please get in touch.Flower Accounting, your fractional finance team from start to sale.

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Pleased to be a sponsor at the local beer festival. 🍻I took my dad (and Uncle Alan) down last night and I’m taking my mum down later today. I know it makes them proud when they see the company name dotted around.It doesn’t really do anything for me now, I just wanted a pint! 😋That’s because I’m mindful that it’s not my “baby” (be careful with that because I don’t like the mindset that comes with it); it’s something that I’m building as an investment and one day it’ll run without me. But I know my family get a buzz from it and I get a buzz from them. Little things.A pity about the weather but we’re used to that! ☔️And, of course, flowers grow in the rain. 🌹📈

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A lovely team lunch to welcome Tyler to the gang.8 of us now and it still feels like we’re just getting started.Scaling a business isn’t easy but we’re doing it and we’re better accountants and business advisers for it.If you want support growing your business, please get in touch.Flower Accounting#Accountants#BusinessAdvisers#TaxAdvisers

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HMRC has started sending nudge letters to people suspected of failing to pay the correct tax on cryptoassets.You’ve been warned, get your ducks in a row. 🦆🦆🦆#crypto#cryptoassets#cryptocurrency

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It was great to catch-up with the guys at Snag Doctor North West today. Such a fantastic business and a real pleasure to work with. Prior to my meeting, Laurie Brown was doing some planning work with the guys. I was 5 minutes early and it was great to see him scribbling away on the board. 👌🏻All of our meetings are designed to either plan (what do we need to do/consider now that will serve us down the line) or review (are we/aren’t we on track).It’s a partnership, and naturally you become friends. It didn’t feel like work today, not at all, and I’m very fortunate to be able to say that. 😎

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Getting excited for Bruce later this month in Prague! 🕺🏻🎸I like to think we’re on first name terms! 🤣As a business owner you make sacrifices. You have to do things other people aren’t prepared to do. But as soon as you possibly can, you have to flip it so that the business serves you, rather than you serving the business. You have to live your life.I said to a client recently, “make the business a chapter of your life, don’t make it your life”. Have an end point, have an exit plan. Build to sell, have your Liquidity Day.We’re here once. Don’t be a slave to your business indefinitely. You can’t take it with you.

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