Xero CEO Rod Drury on small business in 2014…my thoughts

Xero CEO Rod Drury cuts to the chase and notes that you run a business to make money so that you can go on holidays and buy beach houses and basically have a great lifestyle. This echoes my comments from my piece on running a smarter business using technology to help you quite simply “make more money”.

His advice on how to do this? Run your business like it is a real business. Set goals and everyday when working in and on your business only do those things that will help you directly or indirectly achieve those goals which will make you more money and give you that financial freedom you want. Its all about the opportunity cost of doing one thing versus another and so to limit the impacts of opportunity cost decisions he recommends you find what you are good at and be the best at it. Specialise and don’t try to be everything to everyone (this I know is Xero’s mantra and how they decide on what features to build and release)

Pretty simple advice, but highly effective. !


Published by James Solomons

FCA, GAICD. Innovative Business Leader. Global CFO @Xref (ASX:XF1). Director at @business_Depot (formerly Aptus Accounting & Advisory @AptusAA). Former Head of Accounting @Xero Australia. Advocate, Entrepreneur & Educator #Family #Football #Fastcars!

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