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Diving into entrepreneurship is challenging, especially if you already have a high-paying job in the corporate world. However, many people still underestimate the mindset they need to adapt to become successful as a business owner. The transition isn’t for everyone, but those that are courageous enough to pursue this path should know how to scale their businesses sustainably.
In today’s podcast, Meryl Johnston shares her experience in building Bean Ninjas, a thriving bookkeeping firm that provides accounting services to clients from around the globe. She lets us in on the lessons she learned in her journey from leaving her corporate accounting job to becoming CEO and Founder of Bean Ninjas.
Check out these podcast highlights and remember to listen to the show to learn about the strategies you need to build a global business.
Making the Jump From Accounting to Entrepreneurship (2:57)
- Accounting is a great way to get insights into the business world.
- By running the numbers and working behind the scenes, accountants can get an in-depth view of the finances of businesses.
- Leaving the corporate world to pursue entrepreneurship is risky. You need to have a vision that will steer you onward and the willingness to make sacrifices.
- For Meryl, it was the desire to build something bigger than her corporate world that convinced her to establish her own business.
- She knew that becoming an entrepreneur means temporarily postponing her target lifestyle. Nonetheless, her desire for work-life balance motivated her to pursue her business.
The Importance of Establishing a Corporate Vison (08:30)
- Business owners must be able to set a vision that is effective at inspiring their teams.
- Your vision may be very motivating for you, but it may be ineffective for other people.
- Be more inclusive by establishing a corporate vision that accounts for what your employees want.
Identifying the Unique Needs of Your Customers (10:54)
- Any business should be able to give something of value to their customers, setting them apart from their competitors.
- Global enterprises can benefit from diversification, ensuring that their employees can understand the intricate businesses of their various clients.
- Bean Ninjas distinguishes itself by providing accounting services finetuned to the businesses of their clients, many of which aren’t familiar with other accountants.
Building and Maintaining Remote Teams (14:34)
- It takes time to build a global scope. Focus on consistent but sustainable growth.
- Hiring top-notch talent is crucial at the beginning since their performance helps establish a platform for future growth.
- Look for flexible people, since early on, you’ll require them to work on roles that may change frequently.
- Engage with your employees, understand their career goals, and steer them toward roles that will make them grow and keep them invested in the company.
Coping in Difficult Times (21:53)
- Just keep working at it; even the worst periods don’t last forever.
- Focus on the fundamental day-to-day operations and keep your resilience.
Book Recommendation and Rituals (25:20)
- The 4-Hour Workweek by Tim Ferriss
- Meryl relies on a disciplined morning routine focusing on surfing or beachside runs at 5 in the morning, along with regular sessions of yoga and meditation.
You can connect more with Meryl through her LinkedIn profile. You can also check out Bean Ninjas for more information about their bookkeeping services.
Thank you for listening! If you want more podcast episodes and other resources, visit my website, John Murphy International.
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