Magic Beans Accounts

Even Superman knew his weakness!

We’ve all heard it before; delegation is a key skill for all business leaders and necessary for any person wanting to get ahead. But what does this actually mean?

It doesn’t matter how efficient you are, you have the same number of hours in the day as anyone else and there is only so much you can fit into 24 hours. Working at super human speed, trying to take care of everything, can be harmful to your well-being and your business. With only one or two people in charge, there’s only so far you can scale.

It’s important that business owners know when to be strong, and when to be stronger, and to delegate and outsource. Handing over control shouldn’t nullify your “Superman powers” and immobilise you with pain and nausea; its critical to avoid burnout and to ensure your business grows beyond the constraints of your time. We have our top 5 tips below to help you grow your business.

1. Become more strategic

Do less day-to-day activities and instead spend more time coaching your team so you can be in a position where you trust them to get things done. Allow them to challenge the status quo; leading to opportunities for improvements and great new ideas!

2. Learn to Let Go

If you’re the type of businessperson who still phones the office 43 times per day while on holiday, delegation is definitely going to be a challenge.

You’ll need to take a deep breath and just let go. You may consider yourself the office superhero but others may just consider you the office pest – not to mention a time waster!

If the very thought of delegation makes you uneasy, you should start by delegating a single, low priority task. Just remind yourself how much of your valuable, revenue-generating time you’ll be freeing up; your business can’t grow when you’re focused on the wrong type of work.

3. Outsource / Delegate “Up”

One of the primary reasons why a business may want to outsource a task is when it requires skilled expertise. Many business owners try to do everything themselves but by outsourcing, for example your finances and management reporting, it allows you time to focus on providing a high quality product and service to your customers. Outsourcing to people who can perform the task better makes sense; it allows you to develop your team and use them more efficiently. Just because you can count to 10,000, doesn’t mean you should.

Let’s not forget the bonus benefit of lower cost and potential big savings; getting access to quality services that are offered at a much lower cost!

4. Provide Clear Instructions

The key to efficient delegation is being absolutely clear about what you’re expecting for the outcome. How much direction you provide to get from point A to B will depend on the level of expertise of the person doing the task.

You need to absolutely clear about your expectations and goals.

5. Empower Your Staff

You need to teach your team to do the rights things and do the things right.

Of course, in order to empower others, you need to delegate, not dump. Effective delegation is not about dumping the dirty work off your desk or asking someone to fix something that you let fall through the cracks.

Empowering your staff will allow them to feel part of the bigger picture. With good processes, motivated people and consistency, you’ll not be simply trusting to luck!

The only substance on earth that can protect Superman from Kryptonite is lead and the only known substance that Superman cannot see through with his x-ray vision. If you believe that you do most jobs better than everyone else, sort out all of the problems and are ultimately responsible for all the decisions, then it’s not resources, nor timing, nor lack of money preventing your business growth – it’s you!

You can protect your business from Krypotnite; learn to adjust your “office superhero mentality” which inevitably holds businesses back – see through the lead.

Happy Birthday Trace! All the team at Magic Beans know you'll love this post...... xx

Accountant Belfast - Accountant Northern Ireland - Magic Beans Magic Beans are accountants based in Belfast NI. We can help your business grow sustainably by providing you with real time data and support.

Happy International Women's Day to all the phenomenal women around the globe! Let's celebrate the incredible achievements, resilience, and sassiness that make the world go 'round. Remember, behind every successful woman is a tribe of other women cheering her on... and maybe a couple of cups of coffee! Keep shining, ladies!

Magic Beans Accounts An outsourced financial controller service for businesses at a price they can afford, bridging the g

Another December Birthday. Happy Birthday, Eoin!
21 again we heard! Happy Birthday!!

Happy Birthday Jenni!!! We know you'll love this post..... from the Magic Beans Team xx

Happy Birthday to you, Catherine! From everyone at Magic Beans.

Where to start?...as the offices close for Christmas, today marks Sharon Brown 's last day at Magic Beans Accounts and despite the fact I know Sharon will shortly message me and tell me off (then cry) she isnt sneaking away without a few words.

As some of you will know, Magic Beans was born out of Sharon's forward thinking entrepreneurial and innovative spirit. What started as just an idea back in 2016 quickly developed into detailed conversations between us both around Sharon's kitchen table (I couldnt possibly comment if gin was involved). I will never forget getting my first proposal out to a client and it being accepted. Our first client! We definitely screamed with excitement... and work with drive and excitement is what we continued to do.

Were there hard times? There were! Sleepless nights. Blood. Sweat. Tears. But also side splitting laughter, drive and fun! Sharon had her strengths and I had mine and it just worked.

I personally have to thank Sharon for so many things over the years and I'm filled with sadness that the yin to my yang wont be part of the Magic Beans team in 2023. We have always been a combined force (once described as Thelma and Louise?). We remain the very closest of friends and for that I am so grateful.

it goes without saying we have built something amazing together with fantastic clients and a truly amazing team in place to ensure the business will continue to go from strength to strength.

Working with Sharon made me learn many new things and helped me to become a better person both inside and outside. She helped me to learn a lot of lessons and her support was priceless .

This time last year we were working our way through an acquisition with HCA Chartered Accountants , further strengthening our position in the market but also forcing us to take stock of how much had been achieved in 6 short years.

It's an emotional day. I will stop with all the words as I know how much Sharon hates soppy words.

To the future and real friendships ! ❤️

WE ARE RECRUITING MORE PEOPLE!

We are looking for another new member of our team at Magic Beans.

The ideal candidate will understand that managing cash flow, ensuring strong financial controls, good financial management, efficiency and productivity is vital to a successful business. You will be focused on helping our clients grow, save time, work efficiently and understand their numbers.

We are looking for a qualified management accountant who is enthusiastic, friendly, professional, dynamic, hardworking and able to prioritise their work effectively. Reporting directly to the directors and supported by 4 other members of the accounts team the successful applicant will have a varied role in managing all aspects of financial management & reporting, alongside assisting the senior management team in making key commercial decisions on behalf of their clients.

If you know Xero and are an experienced management accountant, with superb customer service skills, experienced in all aspects of financial management and reporting …. If you are willing to work with us for the long term and help in the growth of our business… then you are definitely ready to join our exciting and dynamic team!

Magic Beans Accounts updated their address.

Magic Beans Emerges as Xero Platinum Partner!!

https://magicbeans.online/magic-beans-emerges-as-platinum-partner-status/

Magic Beans Emerges As Xero Platinum Partner - Magic Beans Magic Beans has been a proud Xero-only practice for quite a few years now, helping our clients discover the huge benefits on offer from the world’s leading cloud accounting platform. We are delighted to announce that our expertise with the software has now seen us achieve Xero Platinum Partner sta...

Magic Beans Are Growing

https://magicbeans.online/magic-beans-are-growing-would-you-like-to-join-our-fantastic-team/ #.YfvI2kv7mbM.link

Magic Beans are Growing – would you like to join our fantastic team? - Magic Beans Magic Beans is one of Northern Ireland’s leading teams of Xero accountants and business professionals, providing businesses with access to real-time management information on how they are performing. The company was recently acquired by Hannaway Corporate Advisory group, who specialise in corporat...

Hannaway Corporate Advisory adds a little Magic to the group.

Clare and Sharon are delighted to advise Hannaway Corporate Advisory has acquired Magic Beans in a deal that will enhance our current client offering and strengthen our position even further in the market.


Magic Beans is currently one of Northern Ireland’s leading teams of
Xero accountants and business professionals, providing businesses
access to real time information on how they are performing. The firm was founded in 2016 and run by the co-founders, Sharon Brown and Clare Galloway. It has grown extensively in that time and is now one of the leading providers of outsourced accountancy support, management accounts and cashflow forecasts in Northern Ireland.

Magic Beans has now been picked by Belfast based HCA Chartered Accountants to be its partner. HCA has grown organically since 2013 and through this key acquisition is now better placed to provide a full suite of accountancy support and advisory services to our clients across the UK and Ireland – including specialist tax advice, year end compliance accounts, corporate finance and business recovery support.

Magic Beans owners and co-founders Sharon Brown and Clare Galloway said: "We are delighted to be joining the Hannaway Corporate Advisory group and see this as the next exciting phase for Magic Beans as we continue to provide real time management information and outsourced accountancy support to our clients. Joining the HCA group provides us with additional resources and support to enable Magic Beans to continue to grow and provide additional value-added services to our clients while maintaining
our very strong values, which mirror those of HCA.”

Brian Hegarty of HCA commented “this acquisition is an important step forward for HCA as we continue to expand our operations. Magic Beans is a great fit professionally and personally – serving a similar client base to our existing business. We are delighted that Sharon, Clare and the Magic Beans team have joined the HCA family. This is an exciting opportunity not only for our staff but also to enhance our current client offering and strengthen our position even further as advisors to growing, entrepreneurial businesses.”

Here are some interesting facts for you!

1. 16 million workers plan to change jobs in the next 6 months
2. 62% of employees admit they have been working more hours since the start of the pandemic, totalling 8.7bn hours.
3. 59% say mental health is driving them to change jobs!
4. Over half the workforce (51%) feels they're less than a month away from burnout.

5. 83% of employees would stay if their employer made some changes!!

Bean To The Beach ?

Happy International Women's Day. Where there is a woman, there is Magic 💓

Have you created a monster when you set up your limited company?

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I’ve Set Up A Limited Company (Am I Creating A Monster?) – Now What? - Magic Beans Starting a new business can seem like a daunting task and there is so much to think about. If you set up a limited company through Magic Beans, the registration process usually only takes a few short hours. You can then start trading through your new company. What some new directors may forget is th...

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https://magicbeans.online/is-business-turnover-just-vanity/

Is Business Turnover Just Vanity? - Magic Beans We often see businesses pursuing turnover on the basis that the more business that they do the “better” their performance will be, or at least appear to be. Very little consideration is often given as to whether the increase in turnover is worthwhile and how this increase is achieved; did you ha...

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Easy peasy guide to small business cash flow!

The easy peasy kid’s guide to small business cash flow We asked Penny, leader of her own organisation, how she takes care of the pounds. Read more valuable advice on everything from invoicing to record keeping in our easy peasy guide: goo.gl/pfsv4G