Talking with a newsagent last week they were worried about a business decision they thought was right for their business yet their accountant disagreed.
The accountant is in another town, an hour away. They have never seen the newsagency. Their only interaction with the owners (who have owned the business for two years) is a six monthly review of the financials.
The owners decided to make some changes to the business that required capital investment of $20,000 in fixtures. The changes were to move the business from traditional, old-style newsagency fixtures, to something more flexible and attuned to retail today.
The accountant said they would not meddle with the old style newsagency. Being new to the business the owners started second guessing their instincts to significantly change the business.
By all means seek out advice from professionals – but when it comes to what is right for your business, listen to yourself ahead of them. In this instance, money was not an issue. The only question was whether this business should pursue change. Of course it should and an accountant who has never visited the shop and who was looking at good numbers based on changes made already is too out of touch to offer advice.
My management tip to newsagents today: trust yourself.