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Editor's Pick: Thinking outside the box

by FINSIA Staff | 26 Sep 2017

Technology alone is not a disruptor, but an enabler.

For this edition of InFinance, FINSIA had the pleasure of speaking with a group of female entrepreneurs – some who have turned their backs on the corporate world, but retained with them the learnings and teachings to apply to their own ventures. Thinking outside the box - InFinance - FINSIA 1

Take for example Sophie Kovic, Founder and CEO of Seed & Sprout. Her business venture was born out of need and frustration with finding the perfect sustainable and practical (non-plastic) lunchbox for her son that could fit a sandwich. Enter the Seed & Sprout Bento Lunch Boxes – a 100% food grade stainless steel lunch box. After launching and finding success on Amazon in the US, Kovic wanted to bring her product back to Australian shores. The hurdle in this plan was funding. Kovic took her venture to Kick Starter to fund the first shipment to Australia. Her goal was $5000. Society has seen a shift with increasing number of individuals wanting to build a sustainable future, reducing their impact on our environment by moving to a minimal or zero waste lifestyle. Kovic struck a chord with Australian consumers, eventually crowdsourcing a total of $34,807 for her business. This was achieved with the help of technology.

Or Pauline Chrystal of by Pauline – who switched from investment banking to corporate catering. Technology has helped her business grow and enabled easier day to day transactions. Says Chrystal, “I'm excited about how technology will help in the next 10 years. About a year ago, I was starting a market stall and was looking at card payment methods, thinking that my only choice was to pick which bank I had to pay a (way too high) monthly fee to rent an EFTPOS machine. Then I was told about Square and it blew my mind.”

For the uninitiated, Square lets you accept tap-and-go cards and devices and take chip cards, allowing businesses the freedom of mobility. Square was founded by Jack Dorsey (current CEO of Twitter) and Jim McKelvey in 2009 to revolutionise the payments systems in the market.

“Technology is changing the bookkeeping industry at a rapid rate allowing for the bookkeepers to no longer focus on just data entry but so many other facets of a business. It is giving bookkeepers the opportunity to expand into business advisory and training and so much more,” says Kelly Berger of Business Simplicity.

At the core of a successful business is customer service and professionalism – delivering to your clients what you have promised. “I think outside the box compared to many accountants in that I get to know my clients and take an interest in who they are. For example, when looking at a budget for a business, I ask the owner to do a household budget to ensure that the business is supporting both the business its self and the owner's financial commitments,” says Sandy Visser of Distinct Business Solutions.

“Professionalism is everything to me. The accounting profession has a huge responsibility to its clients and society as a whole. People rely on us to be professional, honest and give the correct advice,” comments Visser.

Do you agree that technology alone is not a disruptor, but an enabler? Leave a comment below.

If you would like to contribute to future InFinance editions, please email us.



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