A newsletter from
Welcome to the 5th edition of my newsletter "Supersonic Business", a fortnightly publication by me, Laura Landmark, with a focus on business growth, value and performance management, in other words, all things that make a business better.
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Sandnes, Norway, Saturday morning, 14th September 2019
"Supersonic Business" is sent from me, a Management Accountant, to other Accountants, Finance Partners, CFO's, CEO's & those that have a leading position in business. The vision for the newsletter to share information, tips and tricks to build healthy, thriving businesses from the 'inside out', it is written from the finance and administration perspective.
I hope you enjoy [SSB#5], write to me on email@example.com if you have any feedback or questions.
Good morning dear world
I have recently attended a conference for accountants in Norway where the theme was sustainability.
It was a refreshing change for the emphasis to be placed on how we as accountants can influence the world for the better through sustainable efforts, rather than the focus being on AI, Automation and Efficiency as it so often seems to be now.
So how can we accountants help towards making our world a place that we will be proud to hand to our children and grandchildren?
Well for starters, we are great at uncovering stuff from the numbers. I once had a slightly alternative colleague. He was often up to harebrained schemes and abided by a different set of rules than I am used to.
I would always tell him, there is no point in you trying to hide anything from me, as I WILL find it in the numbers! We are masters at making things transparent.
We as accountants are also great at being able to measure things, monitor progress and identify trends.
When I am working with companies on their sustainable profile, its all about encouraging them to take steps in the right direction. It's not about being perfect, we are not there, but rather it's about doing better than we did last year, or the year before that.
It's hard to engage or mobilize a company or workforce if they cannot connect to the results of their efforts. We as accountants are well placed to figure out what to measure then creating scorecards and dashboards to communicate the KPIs.
Financial Modeling to a better future
Numbers people can also shift the focus from short term gains to long term sustainability. We are able to build financial models showing the impact of actions over the longer term.
We can motivate and support sustainable initiatives by helping to find more effective ways of achieving noble end goals by running scenario plans or 'what if' analysis. We can model a compelling future, and demonstrate the devastating effects of not taking a socially responsible path.
So the theme for today's letter is the all-important topic of "Sustainability".
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7 concrete ways we Accountants can help
When researching this topic I can across this blog which is a treasure trove of information on how accountants can contribute to a more sustainable future.
They say " If businesses want to keep thriving, they need to adapt their strategies towards long term success in financial and non-financial terms. They need to identify where they create or destroy value and adapt their strategies accordingly. "
Read the full article here
Webcast on Accountants Role in the sustainable movement
'It is not just a governmental issue' states ICAEW. They say it is an important concern, if not the most important concern for businesses today. There is a new sense of urgency since we are depleting the resources we depend on at an alarming rate. This is not an issue that can wait.
Its a daunting task, but the opportunity for change and repair is now.
Watch the webcast here
The value of sustainability to business
The author opens this article with this lovely quote:-
“Treat the Earth well. It was not given to you by your parents. It was loaned to you by your children.” – Kenyan proverb
I fully buy into the idea that we, as business leaders need to take action to realize the potential value in creating a more sustainable and transparent business.
We at #Mantle work quite frequently with businesses that are involved in various industries that require environmental reporting. The benefit of this is that we set them up with a mechanism to help them track if they are improving or regressing in their efforts to become more eco-friendly.
Read it here
ps. eagle eyes might notice that this article was also included last time, but it is so relevant, so it is making a second appearance.
What do do with our left brains?
Anthony Cullen makes the point that the machines will eventually relief the left brain thinkers of their roles and responsibilities if they don't engage in other aspects of the business.
He suggests that fully involving ourselves in Environmental, Social and Corporate Governance (ESG) and relating these elements to financial outcomes. This will ensure we remain relevant.
He says, "In the end, the ‘Accountants of Tomorrow’ will be those who are most capable of meeting investor demand for present-day decision making based on a robust, forward-looking analysis". I couldn't agree more!
Read Anthony's article here
Did you know?
The concept of the circular economy looks beyond societies’ current take-make-dispose model to create a more restorative economy which designs out waste, keeps products and materials in use for as long as possible and regenerates natural systems.
Words of wisdom
Books on the bedside table this week.
This week I have been inspired by this quick read by Anders Liu-Lindberg et al. Its a great recap on what is important to consider in business including mindset, foresight, and resource allocation (and lots more!)
I particularly like the section on systems and processes where it highlights a point made by Blackline that "transformation is a journey, not a destination", the important thing is to get on the road using powerful, flexible systems to drive down costs and increasing efficiency.
You can download your own free copy of this ebook here
Top Tip - become a slow traveler.
I love this tip (read the full article here), its obvious really, travel slow, enjoy what you see, there is no rush.
I spoke to a friend recently who said her summer holiday was nice, but there was way too much driving and moving. Rushing from point to point as they had pre-planned an agenda and been over-ambitious with what they could realistically achieve.
This idea of slow travel really appeals to me, as rest and reprieve from our normally hectic lives, as well as reducing the carbon footprint.
The absolute best slow travel experience I ever had was a 6 month motorcycle trip through India on the back of a Royal Enfield. Maybe not the most environmentally friendly trip, but we are talking about the 1990's!
“Slow travel is not so much a particular mode of transportation as it is a mindset. Rather than attempting to squeeze as many sights or cities as possible into each trip, the slow traveler takes the time to explore each destination thoroughly and to experience the local culture.”
Always end with a thanks!
🙏Thanks to Torgier Sundgodt for being part of a winning team putting together the inspiring Regnskap Norge (Accounting Norway) conference "Overskudd" 👌
Also thanks to Sigvald Bøe Eriksen inspiring regional director of our BNI network for his great pitching tips this week. Your practical advice and positive energy is very much appreciated.
Something to watch
Have a peak at my last video which is all about managing the distractions of the next big shiny object and following things through to their full potential.
Thanks for reading & see you next time
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