25 Years of NKC - Interview with Neville Kavanagh

We took some time out to sit down with NKC founder Neville Kavanagh. A veteran in the business world. Neville is a fountain of knowledge, having weathered the storms of entrepreneurship and navigated the ever-changing tides of not just our own industry, but those of our clients too. We'll explore the lessons learned, and the invaluable insights he's gathered throughout the years.

We hope you enjoy getting to know a little more about Neville and NKC, and maybe even pick up a few pearls of wisdom to apply to your own journey.

What inspired you to start this business, and how did you get started?

Coming from a family business background, I have been actively involved in the business world from a very young age. My family owned an electrical and hardware shop and were also engaged in farming, so business was a constant topic of conversation in our household. We were always striving to achieve our goals through hard work, attention to detail, long hours, and excellent customer service. During my apprenticeship in our family businesses, I learned the value of these qualities. After that college seemed an easier process of development. The result of my upbringing was that I was always determined to start and run my own business. Entrepreneurship is embedded in my DNA, and I was always destined to pursue it.

What have been the biggest challenges you've faced in the 25 years you've been in business, and how did you overcome them?

Taking the leap and starting your own business can be a daunting task, and the fear of failure is a constant challenge that must be accepted. However, it is crucial not to let this fear consume your best self and prevent you from taking necessary risks to achieve success. The pressure to survive in the competitive business world is ongoing, and the need to consistently improve oneself is vital. The realization that one's performance may not always meet expectations can be a significant motivator to push oneself further. It does need to be balanced with patience, precision, and self-reflection to ensure sound decision-making under pressure.

For me, the key is to make a decision promptly and confidently. Even if the initial decision turns out to be wrong, the ability to adapt and make subsequent decisions quickly is crucial to keep the business moving forward. In the ever-evolving business landscape, standing still is not an option. My role as a business owner is to keep my eyes fixed on the future, anticipating changes and continuously searching for innovative ways to improve our services and serve our clients better.

I’m a highly competitive and determined person. The people who have come together to work at NKC over the past 25 years know this and it has helped us build an extremely team-oriented, innovative, focused and determined group that work hard to support our clients. I have high expectations from individuals and departments across our business. These qualities are well-known to our clients, and they understand what they can expect when they work with NKC. They have been absolutely key elements in our growth and success.

How has the industry changed over the years, and how have you adapted to those changes?

Undoubtedly, technology has had a significant impact on our business, enabling us to process vast amounts of data in real-time. This has revolutionized our ability to connect and engage with our clients, providing them with critical insights and value-impacting recommendations. Our relationship with our advisory clients is incredibly close, and we work tirelessly every day to strengthen this bond. We firmly believe that by providing our clients with the most accurate and up-to-date information, we can assist them in making effective and timely decisions.

Alan & Neville visiting our technologoy partners Xero.

Today accessibility is more important than ever before. We have always made it a priority to be available to our clients, but now, we strive to ensure that the direct connection between our team and our clients is seamless. This direct connection helps to build trust and strengthens our relationships with clients. We are always looking for ways to improve the client experience, and technology plays a crucial role in facilitating this. By leveraging innovative tools and solutions, we can work efficiently, effectively, and ultimately provide our clients with exceptional service.

Many businesses fail to recognize the significance of maintaining a close relationship with clients, and as a result, they struggle to remain competitive. We understand that building a strong relationship with clients is the key to our success. Therefore, we put in the effort to ensure that our clients feel valued and supported at every step of their journey with us. We believe that this commitment to our clients is the reason for our continued success and growth.

What are some of the biggest successes or achievements your business has had over the past 25 years?

At NKC, we have built long-standing relationships with our clients that have evolved over time. Many of our clients have been with us for over 10 years and we have quickly formed very close relationships with more recent clients. This is a testament to the quality of work we do and the exceptional customer service we provide. Our commitment to building and maintaining strong relationships with our clients is the cornerstone of our success, and we take this responsibility very seriously.

Our staff are an integral part of our success story. We are proud to have a dedicated team that shares our vision and values. Although there will always be changes many of the NKC team have been with us for years. The positive and supportive work environment we have created has been incredibly important in aiding this.

As a group we prioritize employee well-being, and we believe that a happy and fulfilled team is the key to providing exceptional customer service. This goes hand in hand with our constant development and drive for technical excellence. Our team is highly qualified and incredibly talented. We have an amazing body of experience throughout which means we are well positioned to advise clients on complex and challenging circumstances within their business and industries.

Our success has not come overnight. It is the result of years of hard work, dedication, and a customer-centric approach. As a group we strive to improve what we do at each step and go above and beyond to meet our clients' evolving needs. Our independent, straight taking no nonsense approach is one of our unique attributes. I will still tell you what I think even if you fire me for doing it. This and our focus on customer service is what sets us apart from our competitors.

Vaidas, Alan, Nobin and Neville at Accountex 2022.

How do you ensure you are at the forefront of developments and changes in the industry?

We do invest heavily in our people in terms of training and development and we travel to accounting and technical conferences across the US and Europe. It’s incredibly important that we are consistently working to improve our knowledge based to ensure we’re better equipped to support our clients. We also look for look for cutting edge IT solutions that we can deploy, where appropriate, to support long term success and real time information streams.

If I’m honest, we don’t always have all the answers. But what we do have is the desire and instinct to find solutions to client issues. We are great collaborators to help find the answers.

What advice would you give to someone who is just starting out in this industry or starting their own business?

It's essential to be prepared to take risks and accept that there are no guarantees of success. When considering starting a business, it's essential to recognize that relying on the promises of potential clients who say they will give you work is not a reliable business model. Growth will generally come elsewhere. Starting and running a business requires long hours and hard work, so it's important to assess whether you have the necessary commitment and passion to see it through.

Creating a successful business takes time, effort, and a well-thought-out strategy, along with a bit of luck. It's crucial to be prepared to consistently work hard and remain committed to your goals over a sustained period to achieve lasting success.

It's also vital to understand that once your business is up and running, customer satisfaction is paramount. You must prioritize delivering on your commitments and be available to address any issues that may arise. This means being ready to go above and beyond to ensure your customers are happy and satisfied, as this is the key to building a loyal customer base and achieving long-term success.