#WIB – Q&A With Lauren du Plooy Director Of Rae & Associates
1. Can you please tell us more about your business?
A. Rae & Associates is an accounting firm which specialises in Owner-managed businesses and start-ups. We are passionate about partnering with our clients every step of the way on their business journey. For us, the most important thing is having a collaborative relationship with our clients so we can relieve the financial pressure and let them focus on growing their business.
We specialise in Cloud Accounting and run a training facility so we can empower users to get the most out of their software and feel confident in being able to use all the features of their software. We also have a Payroll department, a software implementation department, and then the bookkeeping and accounting side. We are a small dynamic team of 8 and each of us plays a crucial role in our business, We all have our strengths and we make sure that our team gets to work In a role that they love.
2. When, how and why did you start your business?
A. We are a family business and even though people say family businesses can be difficult we have been so lucky that this one works. My mom started the business 18 years ago. As a single mother she knew working in the corporate world she was not going to be able to earn the kind of money she needed to look after 2 children, so she took the very brave step of going out on her own. It started small by going out to see clients at their offices and assisting them with their bookkeeping and when I joined her 12 years ago we were able to change the business model by adding more consultants and being able to extend our service offering. 5 years ago, we set up offices of our own and we have managed to grow this business into something we are all so proud of.
3. What is your role in your business?
A. My role in the business is a Jack of all trades – I know how that sounds but when you run a small dynamic team like ours, I need to make sure everything runs smoothly. I oversee the accounting team and take care of new business development which I love, meeting new clients and learning about their business is a great part of my passion. One of the best parts of my role is I am a QuickBooks Online ambassador and have the privilege of working with other accounting professionals in the cloud space and helping them on their digital journey – We are very passionate about the change in technology, and we want to help other professionals see the benefit of what’s available and how tech can make their day-to-day life so manageable.
4. Where did you study and what did you study?
A. I was privileged enough to travel quite a bit after school and when I returned to South Africa, I wasn’t sure what I wanted to do. I took a short course in Marketing and decided that I wasn’t passionate about the course so decided I wanted to get into the working world. I started working at QuickBooks SA in their training department and found how much I loved the tech space and that I was really good at sales and leading a team. I then decided I wanted to join my mom in her business, so I did a bookkeeping course through Damelin, joined her team and worked from the bottom up. I wouldn’t be where I am today if it wasn’t for her incredible knowledge and patience with teaching me everything she knows. During the years I have kept up with my studies and am now registered with SAIBA as a Business Accountant in Practice
5. How did you finance your business?
A. We have worked hard to earn every cent we needed to build up our business, if we didn’t have money to buy something we worked hard to save up till we did. When we started and we were out on the road we had no running costs. Our time was paid for by our clients and they also covered our travel costs so we did not need any start-up capital. We saved till we had the money to open our office, we started in a small space and as our team grew, we moved into a larger space, and then we saved up till we had money to set up a training centre. It’s all been self-funded, I love how rewarding that feels for us.
6. Describe your average workday, if such a thing exists.
A. An average day, I think one of the things I love about this industry is not any 2 days are the same as you get to work with different clients every day so there is a great variety. Something that is fun is we have started a walking group with the ladies at the office, so we meet at 7 am and try and get in a 5km walk before the day starts. We then have a team catch up and we then have our client meetings and usual client work we need to get through. I sometimes have a school run I need to do in the afternoon so I might land up working from home after that. I do try and stick to working only during business hours, but it takes major discipline to get this done. My daughter keeps me in line with this at least. I will spend a bit of time at night just going through emails and planning for the following day.
7. How do you balance your home life and your work life?
A. Balance, this is a daily struggle in my life – to balance being a wife, a mother, a daughter, a sister, a boss, a colleague, and a friend – just looking at this list can make me break out in a sweat but what I have learnt is to be mindful around this and not get overwhelmed, I put a lot of pressure on myself to be there for everyone and this means I don’t make any time for myself so what I do is try my best. One of the biggest changes I made after COVID lockdowns was limiting the amount of time I worked at home as this was causing a huge amount of stress. Now that I have the evenings to myself, I make sure we have quality family time, and even if it’s just 30 minutes of eating dinner together at the table this is what quality time is about. Also, my daughter and I are obsessed with reading so we cuddle each night before bed with our books and just have a chance to unwind.
8. What drives you and inspires you?
A. Inspiration comes from 2 major things in my life, 1 is my mother – every day she pushes me to be the best version of myself, and we collaborate on everything we do. She is the best grandmother to my daughter and is just the glue that holds us all together. I always laugh about how it took me being an adult to realise how wise she is and she is my go-to person for anything and everything I need. My second inspiration is helping people and I get to do this every day in my work, I help business owners achieve their goals, I help accounting professionals grow and learn in a tech space that keeps changing and this is my biggest passion, this feeds my soul.
9. Where and when do you have your best ideas?
A. My best ideas are found when meeting with my team, we all inspire each other, and also while driving – driving gives me a chance to unplug and just quiet all the craziness of the day.
10. Where and how do you market/advertise your business for sales leads?
A. When it comes to Marketing our business, we partner with one of our clients League Digital www.league.co.za they understand the space our business is in and we have loved collaborating with them on our digital marketing. We do most of our advertising on Facebook and Linkedin.
11. What is next for your business?
A. What’s next for us? We are always looking for smarter ways to work so we can grow, This will allow us to grow our client base without burning out our team. We want to upskill the staff we have so we can grow and put a freeze on hiring for the moment. I am definitely excited about doing live events again as a QuickBooks ambassador so this will be a large focus this year. I think in any business there comes a time when you make a decision about whether you want to grow or you are happy with the space you are in, last year we wanted to just catch our breath after the COVID craziness, and this year we are definitely focused on growth.
12. What advice would you give to female entrepreneurs hoping to start their own business?
A. Advice for female entrepreneurs is to be Brave, you have to believe in yourself and your dream so you can be confident in yourself. Surround yourself with people that have the same vision as you so they will help you grow. Network and put yourself out there as much as possible. You know your worth so don’t take no for an answer! You have got this.
Short Bio:
I have been in the accounting industry for more than 12 years, specific focus on bookkeeping services and accounting software implementation and sales.
I am extremely passionate about helping other firms implement digital change in their practice and assisting clients on their Cloud software journey.
I am very client experience focused and have a hands-on approach with all our projects
Some fun facts, I devour books at an alarming rate so my kindle is my best friend. I have a crazy, loud and fun family, thank goodness we all like each other as we work together every day. I love being a mom to a firecracker 11 yr old daughter. I’m obsessed with animals so have a mini zoo at home and have a sort of Dr. Dolittle vibe going on around me.
Contact Details:
Email: info@rae.za.com