Managing the day

Sep 01, 2020

Shaun McGlade, Managing Director of SMCG Ltd, talks about his day in his own practice – from the most challenging to the most important part of the day.

I wake up and run, cycle, some gym work or meditate. I find these to be great mental preparation for the day ahead. 

Shower, get breakfast and get our two children ready for school – this is the most challenging part of my day!

As my staff are working from home due to the COVID-19 crisis, we have a Teams call to co-ordinate our day and to catch up on how the previous day’s client work has progressed. 

Meeting with an accountancy practice owner. We get a significant amount of client work subcontracted to our business. At these meetings, I review the client draft accounts with the partner so they can complete the client meeting either themselves or with us present.

Lunch networking meeting with a fellow accountant in Strabane. It is vital to maintain a strong professional support network which can generate client work and provide a sounding board for new ideas.

I have to attend a management accounts meeting with a significant bookkeeping client who has two separate businesses. This client requires quarterly management accounts to be presented to their directors with KPIs analysed and corrective action identified to help determine both companies' strategies towards achieving the overall objectives of the businesses. 

Review any messages left today, calls which need to be returned to clients and any issues which have arisen with the staff on client work. These can vary in nature from tax planning, compliance, bookkeeping, loan applications and many more. 

The most important part of my day is the next hour. I spend this time planning the four most important things I need to do the next day. This allows me to take my thinking out of the day-to-day, realign it with our weekly, monthly and annual objectives and re-focus myself to ensure I can continue to think strategically about our business. 

I will often review our marketing strategies, staffing levels, cashflow forecasting, website management and other varied ad hoc issues.

Finish work for the day and help with preparing dinner and getting our children ready for bed – again, this can be the most challenging part of my day!

Relax with a book, play five-a-side soccer, train with my local GAA team or watch some TV to relax and unwind.

Bedtime time so that I am refreshed and ready for the next morning.