Case Study
Keryn from Wild on Waiheke
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The Immense Benefits of Having an Accurate Financial Forecast
Running a business would be so much easier with a crystal ball.
Imagine knowing exactly what you need to do to prepare for the future and where to focus your efforts to maximise success.
Unfortunately, nobody can precisely predict the future. But, with the help of an experienced accountant, it is possible to come up with some pretty solid financial forecasts to help you prepare your business for what’s coming.
Keryn Matthews, owner of Wild on Waiheke, knows first-hand how valuable it is to have a trusted accountant to navigate turbulent times.
This is Keryn’s story:
Before: An Uncertain Future
Wild on Waiheke is a multi-faceted business. Set on Waiheke Island, the stunning Wild Estate is a winery, brewery, restaurant, and event venue catering to corporate and social groups.
With so much going on, there’s no time or space for making errors. It’s crucial to stay on top of every aspect of the business to ensure things keep running smoothly – including the bookkeeping and accounting.
"We’ve been using Wise Advice for eight years, so that’s how long we’ve been in business. It’s gone like a breeze. They look after us for GST, end-of-year financials; we even use them for our payroll services.”
Running a successful business for eight years doesn’t happen by chance. It takes in depth-data analysis, a familiarity with the industry, and some detailed financial forecasting.
Predicting where the business is heading is a challenging task at the best of times, but it becomes even more difficult – yet vital – during periods of change and uncertainty.
The right accountant can help ensure that a business's financial data is up to date, an essential element for helping business owners make timely and effective decisions. Not only should your accountant provide practical support to guide your business, but they should also be available to answer questions or give advice when you need a supportive ear.
After: An Accurate Financial Outlook
Sometimes, business owners are so busy managing the day-to-day stuff that they don’t get a chance to look ahead to the future. But if you don’t have time to plot your course, it’s easy to end up going in the wrong direction.
Having someone to help you plan the best way to reach your business goals – and figure out ways around any unexpected roadblocks - is priceless.
“During the COVID-19 period, there was a lot of uncertainty, and Wise Advice – Brad and the team – got straight onto us and helped us plan and get through it the best we could.
We really couldn’t have done it without them. It gave us the certainty of how our financial outlook is going to look, and we really thank them for that.”
Proper Planning for Your Business
While we’ll never have 100% clarity on the future, the last few years have shown us that the truly unexpected can happen. The best way to prepare for worst-case scenarios – during and after Covid – is to be flexible, be informed, and have backup plans ready to go.
That means having an informed but adaptable budget, knowing when to pivot and when to seek extra financial support. It also means conducting a regular financial forecast to prepare you for what’s coming. A great accountant can make all of that easy.
“I have recommended Wise Advice to quite a few other friends and contacts who are now using them as well. So, I think you’d be in good hands.”
Would you like an accountant to help you get a clearer idea of your financial future?
Wise Advice are proud to offer a friendly, approachable, and helpful service at all times.
We offer stability, security, and clarity to help you guide your business forward even during uncertain times.
With an in-depth understanding of the hospitality industry, we have the resources and experiences to give you an accurate financial forecast and make those important decisions for your business.
Book a meeting below with Brad today to see how we can support you and your business to be your very best.