The Xero Trifecta Explained Pt 1: Save Time
Business Owners often tell us that they’re “married” to their business. You love your business, you’re fully committed, you’re in it for the long haul. We know what that’s like, because we’re passionate about doing business too.
But it’s not usually said in celebration of your relationship, usually it’s a complaint. It’s unequal. It’s demanding all of you, and you’re feeling zapped of energy 24/7. You’re putting the time in, and it’s not giving back what you expected. It doesn’t sound like a fair relationship, does it?
Saving time is one of the most important points of our trifecta because we don’t believe in bad business marriages.
With saved time, comes increased productivity. With increased productivity comes increased profitability. With increased profitability comes the increased likelihood of a stress-free day to day, less nights spent laying in bed worrying if you’ll ever be able to take a good wage or afford to take on the staff you need – a better life overall for you and your family. The less time you spend on the right now, the more time you get to spend on planning for the future.
We talk regularly about how the kind of clients we take on tend to identify as:
- Law Abiders
- Empire Builders
Some of our clients just want help to ensure they’re compliant (Law Abiders), and some just want to do the work they love and have someone else take on the financial stuff (Craftsmen).
But we also work with a lot of Empire Builders, who have big dreams for business growth. Unfortunately, we find that most of the time, the thing that’s holding them back from planning for the future, is the burden of all kinds of bookkeeping and accounting obligations in the present.
They’re so ready to get excited about pushing their business forward but they don’t even have time to think about smart business decisions, because they’re too busy inputting expense data. If you’re an Empire Builder, you know as well as we do, you didn’t start your business to be a bookkeeper.
When Empire Builders come to work with us, we invite them to marry into the Xero family, so that they can experience an entirely different level of partnership. That’s why it’s at the helm of our Trifecta.
If we were to summarise how the Xero Trifecta saves you time, it would have to be the following:
It protects you from the paperwork
Lost receipts and paperwork are losing your business money. With the Xero Trifecta you can reduce literal clutter taking over your office, but also reduce the kind of ‘business clutter’ that is overcrowding your time.
Receipts can be scanned in, invoices sent and expense claims created all on the go. The business processes you usually run from your office can be run anywhere, at any time. With flexible submission methods, you’ll never lose another document as it’s simple to submit them instantly.
It allows for other people to take the weight off, in sickness and in health
Xero allows for unlimited users, meaning that when you automate your processes, you can give staff access to everything they need to do the job for you.
It also means that when you let go of crunching the numbers, we can help you to understand what they really mean and how to use that data to propel your business forward.
It prioritises peace and passion
As we said, you didn’t start your business to become a full-time bookkeeper – chasing payments, pulling financial statements, spending time trying to understand financial statements, stock management, debt management, cash flow problems.
They’re all areas of the business you weren’t trained in and never wanted to be, all areas of the business that can slowly drain the positivity and passion for the work that you started out with. It’s also becoming more of a panic now that Making Tax Digital is just around the corner. Let Xero deal with all of that, whilst you get your mojo back.
Xero is at the centre of our trifecta because it’s the best tool you’ll invest in for productivity this year. But sending you off to go and figure it all out yourself wouldn’t be time-saving. If you want to know more about the trifecta, we’ve got a page dedicated to showing you what’s in store.
Find out about the other elements of the trifecta mean: