- Rachel Allen
- 1st March 2021
How changing my year end has changed my life (or how we end up putting up with things for way too long!)
I changed my financial year end this month. We have been planning (as best we can in a lockdown) what we are going to be doing over the summer and we kept hitting up against my stock take, which is in July, our year end.
We have had this problem many times over the last few years, exacerbated by the fact that my store man's wife works in a school and they like to shoot off on holiday as soon as the schools finish to beat the rush.
So this year, I thought to myself, why did I choose July as a year end? And why am I sticking with it even when it is clearly not working for us?
Well we chose it originally because our biggest customer shut down around that time and we thought it would be quieter - well that has never actually been the case. They actually shut in early August and, as such, July is often a mad rush! And when we chose it (2008) my elder child was only 1 year old and we hadn't given school holidays a first, let alone a second thought.
But why have we stuck with it, even when it has ceased to offer the advantages it once did?
True, we had to wait 4 years or so before we were legally allowed to change it again but the real issues didn't start to show until my children were both school age and taking them out of school in June became less feasible.
So, we did we wait 12 years? I think, because it didn't occur to us to change it.
I know that sounds daft but how often do we live with an issue in our lives or our business without actually giving it serious consideration? Often we have to wait until something significant occurs (such as my children's new school finishing for the summer two week's earlier than their previous school and thus our wanting to go away in July) to nudge us into action.
And, once we decided to take action to took 5 texts, 2 emails and a conversation with our accountant and it was done! So easy we honestly can't believe that we worked around the problem for so many years! And now, I can plan summer holidays with my family without having to consider fitting in a stock take and year end at the same time.
So, my thought for you today is, what are you putting up with or working around? Either in your business or your life in general?
What is stopping you from noticing it or from doing something about it? I bet that 9 times out of 10 the life changing decision you have been putting off is actually way easier to implement than you ever thought.
And my challenge to you is to identify those areas/things that you are putting up with or working around and see what you can do about them. Today!
Good luck, and you can thank me later 😉
I hope that these have been helpful. If you would like to know more about the above or VAT in general then don’t hesitate to get in touch at www.facebook.com/rachelallencoaching or email@example.com