Thank you for another amazing week!
In our weekly email newsletter, we talked about disruption. You know that gut-wrenching feeling you get when everything you expected to go one way goes in a completely different direction? Well, it’s time to embrace it.
In business, disruption is not only inevitable, it should be welcomed with open arms. Disruption is what a business needs to grow, but it’s also what kills businesses unwilling to change. One of the benefits of owning and operating a small business is the ability to be flexible and make changes almost immediately when a new trend is spotted or disruptive technology is introduced.
Many of the greatest business failures of all time are due to companies not being open to or not shifting in the right direction when disruption in their industry appeared. Blockbuster relied on their brick-and-mortar model without concentrating enough of their efforts and capital to online streaming. The rise of Netflix and Redbox combined to deliver a death blow to the once $5B company.
At Kahuna Accounting, we are in the middle of an industry involved in disruption. This week we published “7 Ways Technology is Disrupting Accounting Permanently.” Our focus on cloud accounting services is due to the shift in the industry and the numerous benefits the ability to provide virtual accounting services provides.
This week, take a look at your business at a strategic level and imagine what your industry will look like in ten years. Will your industry grow online? Are there upcoming opportunities due to new laws, consumer trends, or shrinking production costs? Use this information to plan ahead. Make sure that when disruption occurs, you and your business are on the side that benefits from the changes, not the end that dies a slow and painful business death.
Kahuna Accounting Update
Kahuna Accounting is celebrating the addition of a great cloud accountant to our team – Kevin Lindsay. Meet Kevin as he humors us by answering questions about himself and his passion for accounting.
Weekly Accounting Tutorial on the Kahuna Accounting Youtube Channel
Thank you to the hundreds of you who have already viewed our tutorial videos that we started creating just several weeks ago.
Kahuna Accounting receives many great questions from our clients about how to better understand their financials, reports, and more. We launched the Accounting Clarity for Entrepreneurs series to answer these questions with video tutorials. This week, we covered the importance of gross margins and how you can increase your profits without making any additional sales. Here are the three topics we’ve covered so far:
- Xero Balance Sheet: What to Look For
- Your Business Financial Reports on Xero, What to Look For: Accounting Clarity for Entrepreneurs
- How to View Yearly Financials on Xero Cloud Software: Accounting Clarity for Entrepreneurs
This Week on the Kahuna Accounting Blog
- What We’re Reading at Kahuna Accounting: Three Team Members Share
- Increasing Your Business’ Profits Using Gross Margins: Accounting Clarity for Entrepreneurs Series #4
- 7 Ways Technology is Disrupting Accounting Permanently
- Kahuna Accounting Welcomes Accountant Kevin Lindsay to the Team
Kahuna Business Group is also behind the TREPX Podcast — a weekly podcast featuring subject matter experts who share their stories and secrets to help you grow your business. Listen here. We’ll be sharing episodes with you each week on during the weekly recap.
Kahuna Accounting loves helping and promoting entrepreneurs. If you’re interested in contributing to the Kahuna Accounting blog or be considered for the TREPX Podcast, please contact Michael@KahunaWorld.com. Have a great weekend and thank you for stopping by. Please connect with us on Facebook and Twitter.
– The Kahuna Accounting Team