With a BA in Languages and Business, a career in the bookkeeping space was perhaps not the natural progression. After graduating, Sophie spent over a decade working in the gemstone and fashion industries both in the UK and Australia following her move to Sydney in 1993. Following the 90s crash in the jewellery industry export market, followed shortly after by the very premature birth of her daughter, Sophie decided to leave the corporate world and started taking on a few bookkeeping clients working from home as well as launching the award winning single parent house share business Space4.
Over the next 14 years those few bookkeeping clients grew into The Accounts Studio – a well known and highly awarded bookkeeping agency (awards include NSW Bookkeeper of the Year and the Anthill Top 100 Coolest Companies) based in Sydney with a team of staff, and a niche of working with clients in the creative, design and tech start up space. In addition to being on the board of the Australian Bookkeepers Association since 2013, Sophie also spent several years lecturing in finance at FBI Fashion College, is a regular media commentator and is the author of The Creative Collection.
A passionate advocate of working with entrepreneurs both at a detail level and also in a highly strategic capacity, Sophie also attempts to be a regular yoga and meditation devotee.
Business tips from Sophie
Understanding and monitoring cash flow is absolutely the key to business success – with 75% of businesses closing due to cash flow issues, and around 2/3 of those being profitable entities, it really is of utmost importance. My other key tip would be that developing a more profitable business is usually a matter of tweaking a number of different levers – 10 or 20 incremental changes will usually have a much great cumulative effect than making one big adjustment.