Consider an outside bookkeeper/accountant in the same way as you would a longtime friend, as a source of reliable information and advice, but in relation to your business finances, they have specialized experience and focus.
The business scope of an accountant does not end with tax preparation; they can and should be a business partner throughout the year bringing their knowledge and perspective into your industry to help improve your bottom line and navigate through an uncertain economy.
Here are many reasons why all entrepreneurs should work with an outside bookkeeper/accountant:
- Focus on the reason why you started your business. Entrepreneurs are very passionate, so why get bogged down with tasks that do not help to achieve their passions? On the other hand, a bookkeeper/accountant is inspired to take on the heavy lifting of the tedious money details of your business.
- Achieve work/life balance. You might be asking “What is that?” Many business owners might ask. In spite of how new or well established a business is, owners across the board are struggling to find the right balance between work and life. And this goes back to point 1; performing functions that you are less enthusiastic about handling, which allows you to sell, market and grow during the day and take your child to soccer practice at night.
- Represent your business professionally. Your bookkeeper/accountant and you represent your company in the best possible way. Companies that use such an external resource report that the service is vital to their success. In a recent study conducted by accounting experts among U.S. business owners, 89% of respondents stated that this is an essential element of their success.
- An Outside Accountant can introduce a new perspective. Most times entrepreneurs are so buried in the daily operations of their business that they might not be able to see the complete picture. Relying on your bookkeeper/accountant in this way allows you to take a step back, look at the wider picture and thus a fresh perspective. Who knows, you may come up with the next big idea the world has been waiting to hear.
Continuing the Pursuit of Independence
Today, July 4th, many entrepreneurs will be going to the celebrations of fireworks and barbecue with their families to celebrate Independence Day. Others might sneak some pieces of work between the parties, but mostly three-quarters of them (72 percent) agree on one thing: having their own business gives them greater freedom and independence than to work for someone else, which makes each day independence for them.
Being a business owner is not an easy role. Once a challenge is successfully resolved another takes its place. In working with small independent business owners, I have learned that would not give it up. The desire for continued independence is as strong in them as in the early settlers who declared their intent by the Declaration of Independence.
Could your business survive without the assistance of an external professional? Perhaps, but the insight, guidance, and expertise shared could be just the catalyst for making your business thrive. Pursue Your Independence with MJB’s Bookkeeping Solutions and receive the gifts of time, business accountability, perspective, with less stress. Call or schedule a brief chat today.
Wishing all my readers a Safe, and Happy 4th of July Independence Day Celebration.