An interview with Tamsyn, Seed Accounting Solutions
Why did you set up your business?
My main reason for considering setting up on my own in the first place was because I was expecting my second child and couldn't face having two kids in childcare (both the financial and physical/mental burden). I'd also been working for a company that I believed had been really let down by their accountants, and felt there was a gap in the market for accountants to educate and empower small business owners to help them feel in control of their business finances.
How are you different to your competitors?
We focus on a working relationship with our clients - we enjoy being a part of our clients' businesses.
Who are your ideal clients/target audience? We work with entrepreneurial business owners - anyone looking to achieve their goals, grow their business to the heights they desire (whatever that dream looks like). We like our clients to take their business seriously, to take responsibility for their actions, but look to grow themselves as well as their business. Do you have a team, or do you work alone? What does it look like? We are a team of 5 (soon to be 4) - I head up the accountancy and business growth side of things, Rosie spends most of her time keeping the team and clients in check, up to date and makes sure everyone knows what they're doing, Lin is our in-house bookkeeper, providing clients with bookkeeping services when they decide it's time to spend more time focusing on their business, and Kiran is our payroll specialist, helping with payroll queries and processing payroll for our clients who need it.
What is your biggest business challenge? Cashflow has always been a struggle for me. Starting from scratch with no capital, and not building up enough of a buffer in the first 2 years meant that when I took on team members to help with the workload, the reserves weren't really there. Finally after 5 years I am beginning to see an improvement, but it has been a long five years. I have been fortunate to obtain some great funding when it was needed, and I'm also able to stay positive even when cashflow was looking dire because I have a good grasp of my finances.
If you could wave a magic wand, what one thing would you like to be sorted in your business? Wouldn't mind a money tree so that I can focus on serving my clients and my team better rather than constantly analysing my numbers!
Who are your favourite influencers to follow on social media? I don't have any individuals that stand out. I love Fearne Cotton for reminding me that life is hectic but it's possible to stay sane. I also follow a lot of our app suppliers, and specifically the people who own those businesses - most of our apps were borne out of a small business owner getting frustrated with what they were being offered! I also love following some accountancy practices who I think are similar to me and who I relate to (and meet up with!) and a lot of our partner businesses who we ask to help out our clients. I love Mother Pukka for her FlexAppeal campaign and brutal honesty, the Skin Nurse for being an IG force to reckon with, Steph from Don't Buy her Flowers who is a constant reminder of how businesses can scale from a living room floor to a warehouse.
How do you make time for yourself? I love to run. Every Wednesday morning is blocked out until 12pm to allow me to go for a long run. I try to run 3 times a week. I also make sure I meet up with friends either for coffee or a G&T - running a business with a remote team can make work lonely sometimes, so it's nice to have a catch up and a chat with a human being!