Nishi Patel BSc ACMA
What is my Why?
I actually grew up in a small business and for most of my childhood my parents really struggled to make ends meet, which had a pretty drastic impact on our quality of life. One of the memories that really sticks in my mind is when my father went to his accountant to let him know that we were struggling, and instead of getting useful advice to help turn things around, his accountant doubled his accounting fee which ate into the very little we already had.
In hindsight based on what I know now, the challenges facing my parents business could have been resolved with the right knowledge and mindset. While I understand the importance of making a profit, my main driver is to give small business owners the knowledge to provide for their families and to make sure they are rewarded for their hard work, because I know what it’s like when that doesn’t happen.
About this Author
I set up N-Accounting working out of my spare bedroom in Northampton UK with a cheap laptop and a phone so like many of the small businesses we advise, our roots are humble. Now we’ve just celebrated our 10 year business anniversary in January 2024 and the team has grown in size, capability and experience. We help small businesses reduce their taxes, get accounts filed on time, improve their cashflows and increase profitability.
I would describe myself as an accounting professional first and then a business owner, but in honesty I would struggle to pick one or the other if I had to chose. I’ve been a qualified member of the Chartered Institute of Management Accountants (CIMA) since 2007 and what I enjoy the most about the profession is that it holds that perfect balance between technical accounting work and also business advisory.
My route to becoming an accountant was rather unconventional as I did a degree in Chemistry with Enterprise Management at the University of Sheffield, but after four years I found that I really didn’t enjoy the Chemistry side and I was far more passionate about business. CIMA gave me the opportunity to take my strong numerical skills and then apply them in the context of business.
My Values as a Professional
I show up every day believing that I have to earn the right to advise businesses, this means that I’m proactively creating content on Facebook, YouTube, Instagram, TikTok and LinkedIn. This strategy not only inspires the businesses we work with, but also fits well with my Why because I want to increase awareness of the need for business education. We work really hard to ensure that our customer service is at the highest standards and that everything we do has professionalism built in.
Doing the right things over a period of time is important to me because I’ve seen the value in having a longer term strategy, based on gradual and persistent improvement. When you’re in business long enough, you start viewing things as a formula and the interaction between people, cashflow, vision, product and positioning starts to make more sense.
My business motto’s are “Do what everyone else isn’t doing” and “How you do anything, is how you do everything”. My approach has always been to provide what is needed, not what is available which means that quite often as a business we have had to trailblaze our way into a new product or offering to meet the requirements of the small businesses we support as their accountants.