I had a Panic Attack

---

Most weekday mornings I will get to work anywhere between 7.00am and 8.00am.  It has become my routine that this is the time to go to work.  It is almost robotic.  In fact, I feel uncomfortable and it is like I am turning up to work late if I get there after 8.00am. The other morning was different though.

Last Monday morning I didn’t get to work until 10.30am. So what I hear you say.  There is nothing wrong with that.  For me, the reason why I didn’t get there until 10.30am is what is interesting.

I woke up at my normal time and straight away my heart was racing.  I had an anxious feeling that I couldn’t explain.  There was nothing specific going through my mind, but I felt as if the world was closing in around me.  I felt so overwhelmed, even though I was thinking of nothing in particular.  I didn’t want to get out of bed.  I said to my wife that I wasn’t feeling well and that I was going to stay in bed for a little while. I don’t think I had ever felt this way before.  My heart was racing, I felt overwhelmed about nothing and about everything at the same time, and I didn’t want to get out of bed to go to work.

I was having a mild panic attack!!

I don’t think I have ever had one of these before.  The complete sense of not wanting to go to work because of the overwhelming sense of dread that something bad was going to happen.  Somehow I managed to drag myself out of bed and get to work.  And guess what?  Nothing bad happened at all.  It turned out to be a normal day. There were challenges during the day, there always is.  But there was nothing that I couldn’t handle.

I have made some immediate changes to my lifestyle following that morning.  At the time of writing I have stopped drinking alcohol and I have reignited my fitness campaign.  I have also started meditating again first thing in the morning.  So far these things are helping to clear my mind and focus on the tasks at hand.

I am not a medical expert, and I am not trying to say that panic attacks or anxiety are an easy fix.  I understand that it can be debilitating and I also understand that mine was very mild.

My point in writing this is to say, that this is not uncommon.  I have spoken to a few people about what I experienced and they all said the same thing.  “You would not believe the number of people that have said the same thing to me.”  At the time I was having the attack I felt alone and isolated.  I found some comfort to know that I wasn’t alone, and was also surprised with the level of support when I spoke to others about it.

Please don’t feel like you are alone.  Please don’t feel like no-one is out there.  Reach out to your loved ones.  If you want, reach out to me.  I will listen and offer any support I can give.  It is nothing to be ashamed of.  Learn techniques that work for you to help overcome the anxiety.

Life can be tough.  You are not supposed to be on top of everything all the time. Give yourself a break, you are doing a great job.  And please don’t keep it to yourself.

---

David Patterson - Director The Bucket list Accountant

What is a Bucket List and Why have one?

---

We hear all the time this concept of a bucket list.  You might hear someone say “That is on my bucket list” when they see a picture of a destination or an adventure.  But what is a bucket list?  And more importantly, why should you have one?

In it’s rawest form, a Bucket List is nothing more than a list of things that you would like to achieve in your life.  This may include travel, it may include learning new things or it may be experiencing new things.

It is also important that your Bucket List becomes a list in real life.  Write the things that you want to do in your life down on a piece of paper. Studies have shown that you are more likely to achieve your bucket list items once they are written down and shared with family and friends. There is something magical about taking these thoughts out of your head and putting them on a piece of paper that starts the journey towards making them a reality.

A Bucket List, however, is so much more than just a list of things you want to do in your life.  This second part of what a Bucket List is is the reason why you should start ticking the items off as soon as you are able. Your Bucket List is a creator of memories.

Memories that will last a lifetime. In February this year, my wife and I climbed the Sydney Harbour Bridge in Sydney. It is something we had both wanted to do for a while, and in February we did it! The memory of us standing on top of the bridge with our arms flung wide open and a huge smile on our faces will stay with me until the day I die. I know in years to come when I am talking about the experience with someone who hasn’t done it, my eyes will light up and I will be taken back to that exact time. I am smiling now just thinking about it.

The earlier you do these things, the longer memories you will have. I did a sky dive when I was 18 years old (slightly older than 18 now) and can still remember the adrenaline of leaning out of that plane and jumping out. The sensation of free falling, and the sense of peace when the parachute opened, and we glided down to earth. I also remember the less than smooth landing but hey it was all part of the experience.

In my opinion, memories and experiences are so much more important than possessions, and this is what a Bucket List will give you. It doesn’t matter if you haven’t got a Bucket List yet, start one now. Sit down and start writing the things that you want to do that will create memories that will last a lifetime.  I promise you that you won’t regret it!!

---

David Patterson - Director The Bucket list Accountant

What Does Success Look Like For You?

---

I was talking to a client the other day about their end of year financials and I asked the client about how he thought the business had gone for the year.  His response was that the business had not performed as well as he would like.  He also mentioned that he had joined a group coaching team specific to his industry.  I asked him how it was going and the response really stuck out to me.  “They are telling me for my business to be successful I need to grow and hire more people, and I don’t think I want to do that!” – Interesting

This got me thinking about two things.  One, how does a coach advise you if they don’t really know what it is you are trying to achieve?  And two, what does success look like?  No doubt we have all seen the ads scattered over social media – fast cars, big boats, money scattered all over the bed, and someone standing in front of a Rolls Royce, with what we are supposed to believe is their private jet in the background.

Is that all that success is about?  Is it all about the money you accumulate and the assets you acquire?  At times it feels like we are pushed by outside influences, to pursue these as the ultimate definition of success.  But there has to be more!!

What success looks like is different for all of us.  Firstly I think it is important for us to stop worrying about whether other people think we are successful or not.  Their metrics for success will be vastly different to yours.  Have you thought about what success looks like for you?  When you put the business apron on the hook for the last time and look back, what will make it feel like you have been successful?

For me success looks like this.  I want to be able to take advantage of opportunities that arise that interest me, which will include financial opportunities.  I want to be able to spend time with my family and friends.  I want to be working with people who excite me.  I want to have helped others achieve the goals and dreams that they have.  I want to be able to stop and enjoy the moment, without stressing about what else needs to be done.

What does success look like for you? 

---

David Patterson - Director The Bucket list Accountant

Small Business Success: A Roadmap to Profitability and Family Enrichment

---

The journey of a small business owner aged 30 to 45 is a dynamic blend of entrepreneurship and family responsibilities. Striving for business success while nurturing a fulfilling family life requires a well-crafted roadmap that considers both professional aspirations and personal dreams. In this article, we'll delve into a comprehensive roadmap that guides you toward achieving profitability in your business while enriching your family's life experiences.

Step 1: Define Your Vision and Values

1. Business Vision: Clearly articulate your business's long-term vision and goals. This provides direction and purpose for your entrepreneurial journey.

2. Family Values: Align your family's core values with your business's mission. This alignment fosters unity and shared aspirations.

Step 2: Business Profitability Strategies

1. Strategic Planning: Develop a detailed business plan that outlines your objectives, target market, competitive advantage, and growth strategies.

2. Financial Analysis: Regularly assess your business's financial health, reviewing revenue, expenses, and profitability to make informed decisions.

3. Efficient Operations: Streamline business processes to optimize productivity and reduce costs. This allows you to focus on growth opportunities.

Step 3: Building Family Connections

1. Family Rituals: Establish consistent family rituals, such as weekly dinners or monthly outings, to strengthen family bonds.

2. Quality Time: Allocate undistracted quality time for your family, creating meaningful memories that resonate for years to come.

Step 4: Maximizing Profit for Fulfillment

1. Strategic Investments: Invest in areas of your business that show potential for growth, ensuring a steady flow of profits.

2. Family Bucket List: Designate a portion of your business profits to fulfill your family's bucket list dreams, reinforcing the link between your success and their aspirations.

Step 5: Time Management Mastery

1. Prioritization: Categorize tasks into urgent, important, non-urgent, and non-important, focusing on high-priority activities that drive results.

2. Time Blocking: Allocate specific time blocks for work, family, and personal activities to maintain a balanced lifestyle.

Step 6: Innovate for Business and Family

1. Business Innovation: Continuously innovate within your industry to stay competitive and seize new opportunities for growth.

2. Family Engagement: Innovate within your family by introducing new experiences and activities that nurture bonding and shared adventures.

Step 7: Financial Fitness and Legacy

1. Financial Fitness: Implement sound financial practices, including saving, investing, and debt management, to secure your family's financial future.

2. Legacy Planning: Develop a plan for passing on your business and values to the next generation, ensuring a lasting legacy.

Step 8: Strategic Collaboration

1. Partnerships: Form strategic partnerships within your industry to expand your business's reach and foster innovation.

2. Family Collaboration: Collaborate with your family on important decisions, involving them in the journey toward both business success and family enrichment.

Step 9: Reflection and Adaptation

1. Regular Reflection: Periodically evaluate your progress, making adjustments to your roadmap based on changing circumstances and aspirations.

2. Celebrate Milestones: Celebrate milestones achieved in both your business and family, reinforcing the connection between your accomplishments.

Step 10: Continual Growth and Fulfillment

1. Lifelong Learning: Commit to ongoing personal and professional development to continually improve your business and family life.

2. Enriching Experiences: Keep your family's bucket list alive by regularly planning and enjoying enriching experiences together.

Achieving small business success while enriching your family's life is a rewarding journey that requires intention, planning, and dedication. By following this comprehensive roadmap, you can create a harmonious blend of profitability and family fulfilment. Remember that every step you take in your business journey can also be a step toward creating lasting memories and securing a legacy that will be cherished by your family for generations to come.

---

David Patterson - Director The Bucket list Accountant

Achieving a 4-Day Work Week: Tips for Business Owners

---

One of the items on a lot of business owners bucket list is being able to work a 4 day week with no drop in cash flow or profit. The concept, while enticing, requires a thorough understanding of my business and a series of strategic shifts. The following are some strategies to help move closer to that elusive 4-day work week dream.

> Embrace Automation

This cannot be emphasized enough. Today’s technological advancements have enabled businesses to automate numerous tasks that once took hours to complete. From accounting software that can handle invoicing to CRMs that manage customer interactions, investing in the right tools can save a significant amount of time.

> Delegate and Trust your Team

If you’re aiming for a shorter work week, you must learn to delegate. This means hiring competent staff, training them well, and then trusting them to do their jobs without micromanagement. Empowering your team boosts morale and increases productivity, which can result in a more efficient workflow.

> Establish Clear Communication Channels

When everyone knows what’s expected of them and where to go for answers, it reduces the inefficiencies related to miscommunication. Adopt tools and systems that promote streamlined communication, such as Slack, Microsoft Teams, or Trello.

> Re-evaluate your Business Processes

Sometimes, the way we’ve always done things isn’t the most efficient method. Regularly review your processes, eliminate redundant tasks, and always be on the lookout for ways to optimize.

> Prioritize Tasks

Not everything that demands your attention is crucial. Understand what tasks are genuinely important and which can be deferred, delegated, or even dismissed. The Eisenhower Matrix, which divides tasks based on their urgency and importance, can be a helpful tool.

> Set Boundaries

This is particularly crucial for small business owners who tend to wear multiple hats. Decide when your work day starts and ends, and stick to it. It's tempting to always be "on," but it’s neither sustainable nor efficient.

> Implement a Results-Only Work Environment

Instead of tracking hours, focus on outcomes. If your team accomplishes what’s expected within a shorter timeframe, why keep them at work for the sake of clocking in hours? This approach can boost motivation and productivity, as employees appreciate the trust and autonomy.

> Remote Work and Flexibility

The pandemic demonstrated that many jobs can be done from anywhere. By providing flexibility, you can tap into a broader talent pool and often get tasks done outside of the traditional 9-5 grind, increasing overall efficiency.

> Continually Educate Yourself

The world is rapidly changing. New tools, strategies, and best practices emerge constantly. Keep learning and adapting to ensure your business remains at the forefront of efficiency.

> Reconsider the Business Model

Finally, ask yourself if your current business model lends itself to a 4-day work week. Some industries might find it challenging due to customer demands or operational needs. If the traditional model doesn’t fit, consider pivoting or restructuring in a way that aligns with your goals.

---

While the journey towards a 4-day work week may seem daunting, it is entirely feasible with the right strategies in place. It requires a combination of leveraging technology, optimizing processes, and nurturing a culture of trust and empowerment. Remember, it's not just about working less but working smarter. And as always, in any significant shift, it’s crucial to monitor the financial health and productivity of the business. With careful planning and execution, you can not only achieve a 4-day work week but also improve your business's overall performance.

---

David Patterson - Director The Bucket list Accountant

Best Advice Ever…

---

Yesterday morning I received the best piece of advice I have had in a long time.  I was pondering over a decision that I had to make with my business that had the potential to be confrontational.  I have always thought of myself of someone who doesn’t like confrontation.  I have always tried to avoid it where possible.  I would much rather miss out than go through the difficult conversation.

So I rang my mind mentor, Leigh.  I explained the situation to him and where my mind was at.  One of the questions he asked was “What is the worst thing that could happen if you have the conversation”.  My mind automatically went to me living under a bridge, old blue heiler by my side, a scraggly grey beard and a sleeping bag as my only companions!!

He then said to me - “You aren’t afraid of confrontation, you are afraid of the uncertainty.  As a result you are thinking too far ahead and going down a path that will probably never happen.  You need to learn to embrace uncertainty”.

Boom, there it was!  Embrace uncertainty.  My first step was to present the problem we were having and provide my thoughts on the solution.  That was all I had to think about.  Think about the first step and take that.  Then see what presents itself from there and then make your next decision based on the reaction to the first step.  It is that simple.

Too often in business we overthink our decisions.  What happens if I do this and then this and this happens?  What will people think and how will they react if I do this?  The answer is it doesn’t matter.  If you have made a decision in relation to your business and you are happy with the process and reason for the decision, then go for it.  Worry about the next step when that next step happens.  Too often we are paralysed with fear about what will happen and create imaginary paths that will never eventuate.  Embrace uncertainty.

Embrace uncertainty.  Thanks Leigh.

---

David Patterson - Director The Bucket list Accountant