MITRE & MONDAYS
How Practice Transformed Our Financial Strategy
An interview with Josef Shanley-Jackson, Director of Mitre & Mondays
At Mitre & Mondays, a thriving design studio, co-founder Josef Shanley-Jackson recalls the early days when he and his partner wore every hat in the business. “My partner and I built our studio from the ground up, doing everything ourselves,” Josef explains. “I was managing all the accounts at the start, living in constant fear that I was getting something wrong.” Like many creative entrepreneurs, Josef found the financial side of the business daunting. It wasn’t long before they realized they needed professional support as the studio expanded.
But their first experience with an accountant wasn’t exactly what they hoped for. “We did get an accountant eventually, but it was just someone we heard from once a year,” Josef says. “They would ask us for documents and file everything, but we never really understood what was going on. There wasn’t a relationship.” It became clear that merely having someone handle tax filings wasn’t enough. Mitre & Mondays needed more proactive, hands-on financial guidance.
A new approach: Partnering with Practise
That’s where Practice came in, and the difference was noticeable from day one. “When we started working with Practice, it felt like a whole different ball game,” Josef says. “Suddenly, we had a professional team behind us. Automated systems took care of things like bookkeeping, and there was always someone available to answer our questions.” The studio was assigned an account manager who, according to Josef, became a key part of their team.
The transition wasn’t just about numbers—it was about peace of mind. “Getting rid of that low-level anxiety about what was happening with the books was incredibly freeing,” he shares. The financial side of the business, once a source of stress, now became something they could trust and rely on, allowing them to focus on what they do best: designing.
Beyound Accounting: Strategic financial planning
What makes Practice stand out, according to Josef, is how it goes beyond traditional accounting. “On top of our basic accountancy needs, we also use Practice to help us plan,” he explains. “Things like forecasting and strategy meetings have become integral to our business. We work with Nick, who’s essentially like a floating CFO for us.”
Nick’s role extends far beyond numbers. For a creative business like Mitre & Mondays, he’s become a strategic advisor, offering insights and guidance that ensure the studio can meet its artistic ambitions without financial surprises. “Before Practice, we’d have creative strategy meetings where the financial side of things only came up much later,” Josef says. “Now, we know from the start what we can and can’t do, which is invaluable.”
The collaboration has allowed Mitre & Mondays to be more ambitious. Josef points out that while many people assume accountants are there to apply the brakes on spending or new initiatives, the reality with Practice is quite the opposite. “I suppose you think accountants might be the people to flash a red light and tell you not to do something,” Josef muses, “but what we’ve found is that Nick’s advice really boosts our confidence to do more. He finds ways to make things happen.”
A partner that understands creativity
What has truly impressed Josef is the personal investment that Practice—and Nick in particular—has made in their studio. “We’re a small client, but we’ve never been made to feel like that. Nick invests so much time in us. His advice isn’t just professional, it’s personal, and he really understands what we’re trying to achieve creatively.”
Nick’s creative empathy has become a critical part of the relationship, allowing the financial and artistic sides of the business to work in harmony. “He’s a creative person himself, so he gets it,” Josef explains. “He understands our vision, and that understanding has been invaluable.”
A trusted paternship
What has truly impressed Josef is the personal investment that Practice—and Nick in particular—has made in their studio. “We’re a small client, but we’ve never been made to feel like that. Nick invests so much time in us. His advice isn’t just professional, it’s personal, and he really understands what we’re trying to achieve creatively.”
Nick’s creative empathy has become a critical part of the relationship, allowing the financial and artistic sides of the business to work in harmony. “He’s a creative person himself, so he gets it,” Josef explains. “He understands our vision, and that understanding has been invaluable.”
