Planning, leadership, people and systems are the four cornerstones of success in business, according to My Accounts directors Noel Tiufino and Matthew Rowe.

Tyro is offering up to ten $25,000 grants to businesses with the most innovative ideas [and who join Tyro and start using Tyro EFTPOS Banking]. We asked Noel and Matthew what they would do with such a grant.

“In our opinion an investment in your own business will, through your personal exertion and intellectual capital, create value far beyond any passive investment strategy,” they said. This is what they would invest in.

1. Planning

“If you don’t have a current business plan, or even worse if you have one and don’t use it, then use some of these funds to invest in a business plan that is a living, breathing part of how you run your business,” they said.

2. Leadership

“A business will never consistently outperform the leadership that guides it. When a business does outperform the leadership that guides it, the leadership ensures that it finds its own level again in the long run.

“Investing in yourself as a leader, through good courses or coaching is one way of working on your leadership blind spots and will see a significant ROI to the business.

3. People

“The success of any business is because of the culmination of the discretionary effort of your people. Use some of these funds to build a reward system and fund it for people.

4. Systems

“We believe 80% of problems in business are because of processes and only 20% are because of people. Spend some of these funds on looking at your processes and improving your systems. Focus on the end user of your product or service.”

What would you do with a Tyro Smart Growth Grant?

Up to 10 businesses will each be granted a $25,000 Tyro Smart Growth Grant. To be eligible, you’ll need to sign up for Tyro EFTPOS Banking, start paying bills using the Tyro Smart Account, and submit three innovative growth ideas.

With the Tyro Smart Account, which is available via the Tyro App, you can approve bill payments out of Xero with a tap on your smartphone, and have your banking and Xero accounting seamlessly reconciled. It not only allows you to manage batch payments with ease but the integration means you don’t need to log into online banking or download ABA files.

For more information, check out the Tyro Smart Growth Grant 2016 here. Applications close November 15, 2016.

Noel Tiufino and Matthew Rowe are the directors of My Accounts.