I'm a huge advocate of knowing your numbers and keeping up to date on your accounts as you go through the year ...
I've just been doing a review of my business as we are just over six months through our financial year. My numbers just prove to me that my gut feeling about how my business is changing is right.
So for me, my bookkeeping part of my business (supplying software and showing people how to use it), accounted for just over 80% of my earnings. Of that, 80% was Sage and 20% Xero. For the first seven months of this year, it's now 90% of my business and it's 60% Sage and 40% Xero.
It's a changing market, and Sage has dropped the ball in the new cloud arena, but for 15 years Sage50 Desktop was 100% of my business. I could see Sage was suffering and put more effort into increasing my Xero skills more than 5 years ago, and my efforts are being rewarded. But it's been a different kind of business and a different kind of support with Xero compared to Sage.
How is your business changing? What do your figures tell you? If you can’t do this kind of analysis yourself then get help to organise your bookkeeping so you can.
If anything I've written here resonates with you, call me on 01604 420057 and let's see how we can help you.