Business with the Donnos

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Have you ever felt guilty saying "no" to a potential client or business opportunity? You're not alone. As business owners, we're conditioned to chase every pound and please every customer—but what if this approach is actually holding you back?

In this candid conversation, we pull back the curtain on one of the most challenging yet powerful business skills: the ability to say "no." We share real examples from our own practice, including the recent decision to turn down a client worth £8,500 annually because they simply weren't the right fit. While painful in the moment, this decision created space for better opportunities that aligned with our values and business model.

We explore how setting clear boundaries—from payment terms to communication expectations—doesn't just protect your sanity but actually strengthens client relationships and team morale. When we immediately disengaged from a client who was disrespectful to our staff, we sent a powerful message about what we stand for.

For those struggling with the guilt of refusal, we offer practical strategies to reframe "no" as a positive choice rather than a rejection. It's not about turning people away; it's about saying "yes" to what matters most. We discuss how outsourcing certain tasks (like our new PA arrangement) can help maintain these boundaries without burning bridges.

Whether you're a seasoned entrepreneur or just starting out, mastering the art of the strategic "no" might be the most important business skill you'll ever develop. It's not just about avoiding burnout—it's about creating a business that truly serves your goals, values, and vision.

Like, follow and subscribe to join our ongoing conversation about building a business that works for you, not the other way around.

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Ever noticed how successful entrepreneurs like Richard Branson seem to have endless time while running massive companies? Their secret isn't superhuman productivity—it's strategic delegation. 

After encountering a relaxed business owner at an exclusive golf club who credited his personal assistant for his balanced life, we decided to take the plunge ourselves. Enter Nicole from MIPA, who in just her first week has transformed how we manage our time and mental energy. Those 800+ unread emails? No longer our immediate concern. The dental appointment that's been postponed for six months? Finally scheduled.

What's fascinating is how quickly this decision has paid dividends. We've recognized that tasks taking just "five minutes" actually consume far more time and mental bandwidth—especially when they involve waiting on hold, making follow-up calls, or simply remembering to do them at all. Every interruption costs not just the time of the interruption itself, but the additional 20 minutes needed to regain focus afterward.

For small business owners hesitating about the cost, consider this: if you charge £50 per hour for your services, but spend hours on tasks someone else could handle for less, you're effectively losing money. More importantly, you're sacrificing the strategic thinking time that actually grows your business. We've already seen new work come in that more than covers our investment.

The hardest part? Relinquishing control. Watching that unread email count climb without diving in requires trust and patience. But the freedom to focus on high-value work is worth the initial discomfort.

Whether it's booking golf tee times, organizing birthday flowers, or managing client meetings, the right assistant creates space for you to be the best business owner possible. What tasks are stealing your time that someone else could handle better?

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The AI revolution isn't just for tech giants—it's transforming how small businesses operate right now. In this eye-opening conversation, Jade and Paul Dono break down the practical ways artificial intelligence is already working behind the scenes in businesses of all sizes, and how savvy entrepreneurs can harness its power without complex technical knowledge.

Discover how a simple plumber's business can be completely transformed through AI-powered booking systems, automated payments, and review collection. Learn why the dreaded admin work that plagues tradespeople can be reduced to simply taking photos of receipts with the right tools in place. The Donos share real examples from their accounting practice, where automated systems handle client onboarding, invoicing, and payment collection without human intervention.

The conversation tackles the common misconception that AI means replacing employees with robots. Instead, Paul explains how automating 80% of administrative tasks can make businesses more efficient while creating more growth opportunities. As he pointedly observes, "I've always done it that way" is the number one killer of businesses—especially in today's rapidly evolving digital landscape.

Jade reveals their exciting new venture, Be An Esther, which combines business efficiency coaching with wellness support to help small business owners thrive. Their upcoming "ChatGPT for Beginners" workshop promises to demystify AI tools with practical, accessible guidance for everyday business needs like email writing and social media content creation.

Whether you're a tradesperson drowning in paperwork, a service business looking to streamline client management, or simply curious about what AI could do for your company, this episode offers clear, jargon-free insights that will change how you think about the future of small business operations.

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The workplace has undergone a seismic shift since 2020, leaving business owners grappling with fundamental questions about where and how their teams should work. Jade and Paul Dono tackle this pivotal debate with refreshing honesty and practical insights from both sides of the generational divide.

Drawing from their experience running One Accounts through the pandemic—where they achieved remarkable 67% growth during remote working—the father-daughter duo dismantles outdated thinking around office presenteeism. "That lack of trust," Jade points out, "is never going to build a good culture with your team." Paul adds that businesses forcing full-time office returns are "missing out on talent," highlighting how their competitor's rigid "must work from office" job posting received minimal interest while their flexible approach attracted numerous qualified candidates.

The conversation explores nuanced realities often overlooked in the work location debate. They acknowledge that apprentices and new team members genuinely benefit from in-office learning—"you learn by osmosis," Jade explains—while experienced staff can thrive with greater autonomy. Their balanced approach includes mandatory "collaboration Mondays" when everyone connects face-to-face, combined with flexible arrangements throughout the week.

Beyond theoretical discussion, the Donos offer practical guidance for small business owners navigating these waters. From establishing proper KPIs to measure remote productivity to leveraging technologies like Loom for remote training, their advice is grounded in real-world application. They also address the potential downsides of home working, including boundary issues and isolation, providing a thoughtfully balanced perspective.

Whether you're struggling with talent recruitment, questioning your current workplace policy, or simply curious about effective models for today's changing landscape, this episode delivers actionable insights without oversimplified answers. The Donos' refreshing conclusion? There's no universal right approach—each business must find its unique balance based on industry, roles, and culture.

Looking to modernize your workplace approach while maintaining productivity and team cohesion? This episode is your essential guide to navigating the new world of work with confidence and clarity.

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Fear of crossing the VAT threshold is stunting the growth of countless UK small businesses. We've witnessed business owners take drastic measures—including temporarily shutting down operations—just to stay below the £90,000 mark and avoid VAT registration. This mindset creates an artificial ceiling that prevents scaling, expansion, and ultimately, success.

The apprehension typically stems from misconceptions about what VAT registration actually means for a business. Many fear the administrative burden or worry about raising prices and losing customers. What they're missing is the complete picture: yes, you'll charge VAT on sales, but you'll also reclaim VAT on business expenses—potentially offsetting much of what you collect. Modern accounting software has dramatically simplified the process, making VAT returns far less daunting than most imagine.

From practical banking tips (using Monzo or Starling "pots" to automatically set aside VAT funds) to exploring simplified schemes like the Flat Rate option, we break down exactly how to handle VAT registration smoothly. We also address common pitfalls, including the dangerous practice of artificially splitting businesses to avoid registration—a strategy that can lead to severe penalties. With Making Tax Digital for Income Tax on the horizon for businesses over £50,000, understanding these threshold psychology issues becomes even more crucial.

We share our unfiltered thoughts on recent experiences too, including Paul's acceptance into the prestigious Goldman Sachs 10,000 Small Businesses program and Jade's observations on Virgin Voyages' remarkable culture consistency—proving that brand values can permeate every aspect of customer experience. Whether you're approaching the VAT threshold or simply planning for future growth, this episode delivers practical wisdom for building a business without self-imposed limitations.

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Ever wondered how to take a proper holiday when your business relies on you? For family businesses, this challenge multiplies when several key people want to vacation together. How do you keep operations running smoothly while actually enjoying your time away?

This episode tackles the real struggle business owners face when planning time off. We share candid stories about our upcoming family cruise and how we've prepared our team to handle things while five of us are simultaneously away. From HR emergencies during past holidays to the challenge of truly disconnecting from work emails, we explore the pitfalls and solutions for effective breaks.

Many small business owners face impossible choices – close temporarily and lose income, or never take proper holidays. We examine how setting clear expectations with clients, proper delegation to your team, and strategic planning can create guilt-free vacation time. Plus, we discuss how modern technology both helps and hinders our ability to disconnect.

Beyond the practical concerns, we emphasize why holidays are absolutely essential for sustained business success. The creative thinking space and regeneration they provide often leads to your best strategic ideas – proving that stepping away can actually move your business forward more effectively than constant presence.

Whether you struggle with vacation guilt or simply need practical strategies for time away, this conversation offers both empathy and actionable advice. Your business benefits when you prioritize proper breaks – and we'll show you exactly how to make it happen.

Have you mastered the art of taking holidays as a business owner? We'd love to hear your experiences!

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Struggling to price your services confidently? You're not alone. This candid conversation between Jade and Paul Dono tackles the widespread problem of business owners undervaluing their expertise and time.

We've noticed a pattern across our client base—and in our own accounting practice—where small business owners consistently undercharge, overdeliver, and ultimately burn out. Drawing from real examples, we explore why so many entrepreneurs fall into this trap and how it creates a cycle that hinders business growth and personal wellbeing.

The signs are often subtle: quickly offering discounts when customers hesitate, constantly performing unpaid work, feeling resentful of client demands, and obsessively comparing your prices to competitors who may not even be profitable themselves. But recognizing these patterns is the first step toward breaking them.

Through practical guidance and personal stories, we share strategies for determining your true value, including gathering testimonials, understanding the problems you solve, protecting your time, and learning to confidently communicate your worth. We explain why saying no to ill-fitting clients might be one of the most profitable decisions you'll make, and how proper pricing creates perceived value that attracts the right customers.

This episode isn't just about making more money (though that's certainly a benefit)—it's about creating a sustainable business that allows you the freedom and flexibility that likely motivated you to become an entrepreneur in the first place. Whether you're just starting out or have been in business for years, these insights will help you break free from undervaluing patterns and price with confidence.

Listen in and discover how knowing your true worth transforms not just your bottom line, but your entire business experience.

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The age-old question of whether to pursue university education or an apprenticeship remains a pivotal decision for young people and businesses alike. After attending an enlightening debate at Cambridge University on whether graduates can compete in today's job market, we found ourselves on opposite sides of the argument – Paul championing apprenticeships while Jade defended the value of university degrees.

Drawing from our direct experience employing apprentices at One Account, we've witnessed firsthand how young talent like Harry, James, and Zach have transformed into invaluable team members. The apprenticeship model offers unique advantages for small businesses: you can shape fresh minds to your specific practices, watch them embody your company culture, and harness their enthusiasm and energy. Yet this approach demands significant investment – in time, training, and patience through the inevitable learning curves.

For small businesses, the financial incentives to take on apprentices have been crucial. The government's decision to remove Level 7 apprenticeships represents a concerning shift that may prevent businesses like ours from supporting higher-level qualifications in the future. Without this support, opportunities for talented individuals to progress through the apprenticeship route could vanish.

Our personal journeys highlight different paths to success – Paul starting at 17 through an apprenticeship route and eventually founding his own practice, while Jade pursued university before joining the family business and now completing an MBA through an apprenticeship program. These contrasting experiences demonstrate there's no one-size-fits-all approach.

We also touch on the critical importance of working with regulated professionals, particularly in accountancy. The temptation to choose cheaper, unregulated services often leads to costly mistakes and missed opportunities – a painful lesson we've seen clients learn before returning to our fold.

Ready to explore whether an apprentice might be right for your business? Or perhaps you're weighing up university versus apprenticeship for your own career? This episode offers practical insights from both perspectives. Subscribe now, share with a fellow business owner, and join the conversation!

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The heartbeat of your business isn't your profit and loss statement—it's your balance sheet. We pull back the curtain on this misunderstood financial document that reveals the true strength of your company.

While most small business owners obsess over turnover figures, we explore why focusing solely on profit can lead to disaster if your balance sheet isn't healthy. Paul breaks down the critical components in plain English: assets (what you own), liabilities (what you owe), and how these must balance with equity to create financial stability that withstands sales downturns.

We tackle common misconceptions head-on, particularly the dangerous assumption that money in the bank equals financial health. Your suppliers, creditors, and potential business partners can see your filed balance sheet at Companies House—it's your business's public financial face. Understanding what they're looking at could mean the difference between securing credit terms or being forced into upfront payments.

Through relatable examples (including a musical theatre analogy for the creatively-minded!), we demystify fixed assets, current assets, liabilities, and the critical importance of maintaining positive working capital. Paul shares why he reviews our company's cash flow weekly and forecasts months ahead—practical wisdom from decades of financial management.

The balance sheet isn't just a document for accountants. It's the foundation of intelligent business decisions, revealing whether you can weather storms, fund growth, or position your company for eventual sale. If you've been neglecting yours, this episode provides the clarity and motivation to change that today.

Ask your accountant to explain your balance sheet—and if they can't make it understandable, find someone who can. Your business's future may depend on it.

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Key Performance Indicators offer a tangible way to measure business performance and track progress toward growth goals. We pull back the curtain on how these metrics can transform decision-making and provide early warning systems for potential problems.

• Pick three key KPIs to monitor monthly for most businesses
• Financial KPIs include gross profit percentage, net profit percentage, and staff wages to turnover ratio
• Stock turnover rate is crucial for retail businesses to avoid locking up cash in inventory
• Non-financial metrics like customer satisfaction and operational efficiency are equally important
• Modern accounting software and tools like Fathom make tracking KPIs simpler than ever
• Perception often differs from reality—KPIs provide objective data to counter gut feelings
• Regular monitoring allows early detection of issues, as with a client selling products at a loss
• Accurate, up-to-date bookkeeping forms the foundation for reliable KPI tracking
• Team transparency around KPIs creates alignment and shared purpose
• Industry-specific metrics matter—consult your accountant about which ones apply to your business

If you're struggling to identify which KPIs would be most valuable for your specific industry, drop us a message mentioning your business type, and we'll suggest 3-4 key metrics to start tracking.

🎧 Listen now on Spotify & Apple Music and don’t forget to subscribe, share, and leave a review – and send us your questions for future episodes!