Digital workflows and setting clients up online were focal points of discussion when Chris Ridd sat down with Matt Sharwood of Advise Accountants in episode five of the myprosperity @ home series. Directing an advice business with 10 staff is already a challenge in itself, but with the fallout of COVID-19 Matt has seen new challenges arise that are unique to the current situation we’re all facing.
Matt explains that the situation for the majority of his clients is one that’s quickly evolving. 70% have applied for JobKeeper and almost all of them are in a situation where things are evolving quickly. What Matt see’s happening now is the flow on effect being caused by businesses who have already been badly impacted by the market shock of COVID-19. Being a regional business he’s noticed that the construction sector is keeping things afloat for now, while the drop in tourism is yet to have had an impact.
Something Matt’s doing with nearly all his clients is waste audits, eliminating any unnecessary expenses with his clients so that their businesses are tightened up. He’s also seeing a big shift in his clients who hadn’t taken their businesses online. “The online shift has been a savior for some of our clients as they open online stores through Shopify, they’re noticing their sales go up.”. He also notes that clients are optimising their customers journey for their online store which they’ve seen really positive results from.
One thing that’s been more seamless for Matt and his staff is the transition to working remotely from home. They’ve successfully figured out a rhythm of daily online meetings and are able to work directly with their clients through digital workflows. He’s also been trying to lead by example by ensuring he has a healthy mindset through exercise, as he and his team work around the clock to help navigate their clients through this challenging time.
You can watch the full episode below.