More Than Just Numbers: A Partnership for Success

For Creative Refinery owner Neil Rusden, business success isn’t just about money in the bank. It’s also about being able to achieve certain personal goals, like driving a Maserati.

Many accountants would balk at the thought of budgeting for a high-end car, but for Karen and the Thrive team, it’s just another goal to work on with her clients.

Creative Refinery is a design agency. They work on brand development, digital and print media, logos, packaging, and whatever clients need. Neil is the creative director, and is not particularly finance focused and that’s where Karen and the Thrive team come in.

Neil puts it like this: “Karen is our saviour. She’s not like a normal accountant, she understands that it’s not just about the bottom line. She’s really an integral part of our business.”

 A Trusted Partner for Bold Business Decisions

Neil was working with another accountant when he met Karen. He had an immediate rapport and felt that Karen was quite different from his then-accountant.

The Creative Refinery team are big-picture thinkers, so when they wanted to buy anything or make changes, their previous accountants had said 'no.' But Karen was happy to help them achieve what they wanted, even if it impacted the bottom line. She was genuinely interested in the business and wanted both the business and its owners to succeed.

Because of the strong rapport and relationship they’ve built, Neil isn’t afraid to approach Karen with requests for big purchases, like fancy cars or major business changes.

They have a monthly meeting and brainstorming session to go over their financial state, progress on goals, and any new ideas for the business. Karen’s role is to act as a sounding board and give the team perspective, particularly when they can’t agree on something.

“Karen is our sounding board, our mediator, she keeps us grounded.”

 From crisis to comeback:
The support that made a difference

Working with Thrive has been a positive journey for Creative Refinery. Thrive helped the business weather the recession and survive, even as dozens of other design agencies closed around them. Creative Refinery had to move fast and restructure, becoming lean and efficient, and as a result, they came through.

They’ve stayed with Thrive ever since and have found that they’re always available to help with unexpected issues, both large and small.

Neil says that Karen proved her worth early on when the business was dealing with an incident of employee fraud. Karen was instrumental in helping the team sort out the financial fallout and even dealt with the police.

“She made something that was horrendous a little easier,” Neil explains.

 Building a Smarter, Stronger Business

Of course, running a business isn’t all about dealing with disaster. Most of the time, it’s about the day-to-day management of staff, clients, and cash flow.

Thrive manages the accounts for Creative Refinery and has also helped refine the business’s processes, getting them onto the right workflow management system and integrating it with Xero to cut down on admin. The seven-person team now uses the workflow software to track hours, manage billing, and send invoices, making it far easier to see how much each client is spending – and how work hours are being used.

These changes have helped increase productivity from 68% to around 85%, and with Thrive’s support, the business has grown from four to seven people. Thrive’s guidance has also ensured that Creative Refinery has the right systems in place to manage its growth efficiently, allowing the team to focus on delivering high-quality work rather than being bogged down in admin.

Beyond the numbers, Neil explains that while they haven’t tracked an exact ROI, they see working with Thrive as an investment in the health and wealth of the business. Thrive provides not just accounting services but also strategic support and advice that has helped the business evolve and scale sustainably.

Best of all, car fanatic Neil now has a system in place that ensures he can plan for his next big purchase without it impacting the business. That definitely says something good about how things are going. Neil credits that to Karen and Thrive.

“It’s all about trusting her and trusting her ability. She knows our business and won’t let us make idiotic mistakes. We work smartly, we don’t have loans, we don’t have overdrafts. If we didn’t have someone watching our business, we could be out spending money willy-nilly, but she keeps us in check.”

 Strategic financial support fuels Growth

Creative Refinery has leveraged Thrive’s expertise to support its business growth with a comprehensive approach to financial management. With a tailored Game Plan, they’ve ensured that all financial administration requirements are met, giving them a strong foundation for success.

Thrive has provided essential company administration and tax management services, ensuring compliance while optimising financial strategies. Their business planning and business structuring advice have helped Creative Refinery scale effectively, while budgeting and cash flow forecasting have provided clarity and control over financial health of the business.

In addition to these services, Thrive provides trustee services and Virtual CFO support, allowing Creative Refinery to make informed, strategic decisions with expert financial guidance.

At Thrive, we believe you shouldn’t have to choose between business success and peace of mind. Our Thrive Without Sacrifice programme with the Virtual CFO add-on is designed to help you scale sustainably, with personalised guidance that keeps you in control, without the stress.

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