Building a business from the ground up takes knowledge mixed in with a lot of guts. You not only have to be the experts in your chosen profession and offer a service that’s in demand and profitable, but you also need to know how to manage the running of a business and all the financial responsibilities that come along with it.
So, it’s no surprise new business owner Tom O’Connell looked to the experts soon after launching his plumbing and gas business Alchemy. “I wanted a progressive accounting company to guide my company and Ascend came highly recommended”.
Being new to owning and running a company can be overwhelming, and knowing where to begin was just one of Tom’s challenges. “I needed help with everything involved with starting a business from scratch. From learning how to use Xero, understanding tax and GST to financial planning and anything else that would benefit the early stages of business, I knew nothing but was eager to learn”.
With fierce competition, rising inflation and consumer spending down, the pressures of being a business owner aren’t lost on Tom. But having expert financial advice a phone call or meeting away has allowed Tom to mitigate risks and lay solid foundations for success in any economic situation. “Ascend has helped me understand how to keep my business safe for the first two years. Their advice around systems, time management and setting goals, along with their shared knowledge around what my numbers mean, have set me up for the future”.
Being at the beginning of his business-owning journey hasn’t stopped Tom from thinking about how he can keep developing Alchemy Plumbing and Gas into something greater, building on his achievements. “We want to employ a couple more plumbers and some administration staff, buy a commercial property, hit our desired profits, and eventually, I would like to step back into a three-day role.”
Working alongside Ascend keeps Tom positive and on track and has given him confidence that he can grow his business with the knowledge and know-how to achieve his goals. “Ascend has recognised our passion for learning and growth and has provided business planning advice to support us. We know Brooke and Mike have our backs and thrive on seeing businesses like ours do well.”