WHAT THE HECK DO YOU DO?

Written by Richard Baldwyn ATT, CTA
January 28, 2014

What did you say you do again?

I don’t know about you, but I find The Apprentice to be highly entertaining.

But I remember one series particularly well – series 7.

And it wasn’t just because of the characters involved – although Jim was an inspiration to watch for anyone lacking in sales skills, and Helen could organise the hind legs off a donkey (OK – not a well known expression but I like it!).

But the award for the person who confused me the most in that series had to go to Melody Hossaini. All the way through the series (until she got ‘fired’) I was trying to work out what it was she did!

I knew it was global, I knew it involved youngsters and I knew she’d won awards for it! So at the tender age of 26 she was obviously a force to be reckoned with!

But what exactly did she do? Well, I was pleased to learn that I wasn’t not alone in my confusion. Because what was the very first question that Dara O’Briain asked on ‘The Apprentice: You’re fired’?

No prizes for guessing – it was “What do you actually do?”!

And even after Melody told them, the panel and I were still confused! Ruby Wax even offered to give Melody some training in communication!

Melody finally said that her business ‘enabled young people to combine their passion with the necessary skills to enable them to achieve their vision’. At that point I thought I’d got it – she helped young people who wanted to volunteer to help others actually turn their passion into practical skills so that they could make a real difference! (Actually, even as writing this I’m not convinced I’ve got it right!).

But then I thought that the inability to communicate clearly and concisely what you do is common to so many business owners I meet. When I ask them what they do, they’re unable to tell me in a way that means I have a clear idea as to who they help and what they do.

Melody quite clearly has the advantage that she is exceptionally passionate and a remarkable young woman. And she has clearly been able to communicate her ideas to enough people to make a success of her business.

But that’s leaving so much to chance. So the next time someone asks you “What do you do?” think very carefully about the answer you give.

Make sure you leave them in no doubt as to who you help, how you help them and why they should choose you rather than your competitors.

Otherwise you may find Ruby Wax offering to help you with your communication skills!

About the author

Richard Baldwyn ATT CTA

Richard is Co-Founder of The Friendly Accountants and has more than 30 years' experience in tax, including 3 years spent inside HMRC before moving into private practice. He advises individuals and owner-managed businesses on a wide range of UK tax issues, including the tax challenges created by digital platforms and online business models.

Richard has specialised in UK crypto taxation since 2016 and was one of the first UK tax advisers to write publicly about the taxation of cryptoassets. His work includes advising individuals, investors, founders and owner-managed businesses on complex crypto transactions, HMRC disclosures and enquiries, DeFi, NFTs and the tax issues facing businesses operating with digital assets.

He also has first-hand experience of cryptoassets and Web3 projects, combining practical knowledge of how crypto is used with wider UK tax experience.

He particularly enjoys making complex tax transactions easier to understand and helping clients apply tax rules to transactions and technologies that do not always fit neatly within traditional tax categories. More about Richard and the TFA team

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