Your Launchpad into Business Advisory Services
Accountants Minute 431
Why So Many Small Businesses Fail — And How You Can Help Change That
A lot of people believe that if you can survive in business for a couple of years, success will naturally follow.
Unfortunately, that’s a myth.
According to Michael Gerber, author of The E-Myth series, 98% of small businesses fail before reaching their 10th anniversary.
That’s an enormous loss – not just financially, but emotionally – for families and communities throughout Australia and around the world.
And that’s where you, as an accountant, bookkeeper, or business advisor, can make a real difference.
The Challenge – and Opportunity – for Accountants and Bookkeepers
Most small business owners start with passion and optimism, but few have a plan, a mentor, or a system.
Accountants and bookkeepers have a vital role to play – offering guidance, structure, and financial insight that helps transform good ideas into sustainable businesses.
The “Dreaming Room” – Where Every Business Journey Should Begin
Before a single dollar is spent, every aspiring business owner should step into what Michael Gerber calls the “Dreaming Room” – a space to visualise and design how the business will operate.
Encourage your clients to ask foundational questions:
✅ What type of business do I want to create?
✅ Where will it operate, and how?
✅ Who are my customers and suppliers?
✅ What licenses, staff, and resources are needed?
✅ What systems will manage finance, stock, and cashflow?
✅ Have I prepared a business plan and financial forecasts to match my vision?
This reflective process helps identify risks and gaps before major commitments are made — and it forms the blueprint for what every business truly needs: a system.
“A business with a system is a brand.” — Michael Gerber
“A business without one falls apart.”
Systems Make Businesses Sustainable
Every successful enterprise is built on well-defined systems – written, repeatable processes that guide daily operations and decision-making.
It’s no surprise that the Australian Small Business Ombudsman reports failure rates at their highest levels ever.
A single owner often juggles 30–40 different management responsibilities that, in larger organisations, would be shared among multiple specialists. When even one of these responsibilities – pricing, budgeting, debtors, cashflow – is ignored or mishandled, the entire business is at risk.
A Real-World Example
One business owner, a former managing director of a public company, purchased a retail store. Convinced he “knew business,” he declined regular accounting support.
Two months later, he called in a panic – “Someone is stealing from me!”
In reality, his pricing system was wrong.
He was adding the gross profit percentage to the cost price, instead of applying the markup percentage. Once the accountant explained the error, the owner immediately engaged the firm for full advisory services.
There’s a lesson to be learned in this scenario…
Small Business Owners Need Someone to Talk To
Running a small business can be lonely.
There’s no CFO to ask “what if?” – no internal finance team to test ideas. This isolation often leads to avoidable mistakes and, ultimately, failure.
That’s why accountants and bookkeepers must step forward as proactive advisors – engaging early, guiding clients through planning and budgeting, and positioning themselves as the sounding board every small business owner needs.
Setting Your Clients on the Path to Success
Success starts with systems – and one of the most critical is the financial system.
Help clients establish:
✅ Business plans
✅ Budgets and cashflow forecasts
✅ Monthly management reports comparing actuals to targets
✅ KPI dashboards and performance reviews
How ESS BIZTOOLS Can Help You Deliver This Service
The ESS BIZTOOLS Starter Package has been designed specifically for accounting and bookkeeping firms ready to move beyond compliance and deliver true Financial/Commercial/Management Accounting Advisory Services.
As a Starter Package subscriber, you’ll gain access to:
Monthly Business Newsletter – Business Plus+
Each edition includes 4–6 SME-focused articles you can brand with your firm’s logo and send to clients.
Topics cover every stage of business growth:
✅ Thinking about buying a business
✅ First 6–12 months of operations
✅ Expansion, R&D, funding, and succession planning
✅ Preparing to sell a business
This is your ready-made tool to spark advisory conversations with clients and prospects.
Training Sessions
Receive 10 complimentary training sessions each year, plus access to 20 more from the Advanced Package and Financial Forecasting Package – all included for your team.
Marketing and Promotional Packages
Professional tools to help your firm communicate its advisory capabilities and position your services as the solution to the “small business isolation” problem.
Take the first step toward building advisory services that matter.
Register to our Live Webinar
Starter Package: Your Launch Into Advisory Services
🗓 Thursday 13 November
⏰ 11:00 AM AEST
Join our upcoming webinar to discover how the Starter Package empowers your firm to:
✅ Deliver valuable educational content with ease
✅ Strengthen client relationships through regular touchpoints
✅ Build confidence in offering Business Advisory Services
With 16 ready-to-use content modules and access to optional training sessions, the Starter Package is your launchpad to becoming your clients’ trusted strategic partner – not just their compliance provider.
Small business survival depends on systems, strategy, and support — and accountants/bookkeepers are the professionals best equipped to provide all three.
Visit our website – www.essbiztools.com.au – to discover the detailed overview of the services provided by ESS BIZTOOLS. You are also welcome to contact us on 0418 190 181 or email .
Free Webinar by ESS BIZTOOLS
Maximise Business Sale Value for SMEs
📅 Thursday 6 November | 11am AEST
Starter Package: Your Launch Into Advisory Services
📅 Thursday 13 November | 11am AEST
Advisory on Demand: The Advanced Package Advantage
📅 Thursday 20 November | 11am AEST
Financial Forecasting Package: Advisory With Vision
📅 Thursday 27 November | 11am AEST
BLACK FRIDAY FEATURE WEBINAR
Innovation Journey: Helping SMEs Create, Grow, and Prosper
📅 Monday 1 December | 11am AEST
Empower Tradies with an Effective Pricing System
📅 Thursday 4 December | 11am AEST
Guiding SMEs to Success Through Business Planning
📅 Thursday 11 December | 11am AEST
Smart Succession Planning for SMEs
📅 Thursday 18 December | 11am AEST
Want to know more?
Visit www.essbiztools.com.au.
If you would like to have a discussion about how this concept of virtual CFO services can be supplied by Australian accounting firms please ring our Managing Director, Peter Towers, on 0418 190 181 and we will arrange a complimentary 45-minute Zoom meeting to discuss your firm’s position and to give you our advice.
We believe that this is the blueprint for the delivery of an enhanced range of services by Australian Accounting and Bookkeeping firms to assist SME businesses to add value to their businesses and to assist accountants and bookkeepers not only to attract but to retain outstanding talent who want to be involved in the delivery of “real accounting services”.
Tell us what you think
We would like to ensure that our articles remain relevant, insightful and informative. We value your input, so it would be appreciated if you could take a few minutes of your time to complete our survey – click here.
Thank you for your assistance in making Accountants Minute better.
Subscribe to Accountants Minute
Want to keep up to date with the latest issue of our Accountants Minute newsletter?
Click here to subscribe, free of charge.
