Whats the point of having an awesome accountant/advisor?
Updated: Aug 10, 2019
Generally most businesses start out from someone working on a career that they have a passion for or an underlying skill of that's just who they are. They start a business by themselves and gradually become busier and busier until they put on someone to help them out and so on and so on. The owner generally wears many hats Sales, HR, accounts, problem fix etc etc. The problem with this is that business owners are solely focused on the micro-environment of their business and don't have the time to stand back and reflect on their business with an objective opinion. This is where an awesome business advisor/accountant can really help. By having a helping hand an advisor can drastically change the costings and outlook of a business. Not only do advisors go from business to business but they have a wealth of technical knowledge which help take a good business to excellent. How good would it be to change underlying profit by 5-10% within a month? Easy. Numbers and compliance aren't the enemy rather our greatest tool for working out how to improve.
Through the use of statistical analysis and working with business owners a business advisor can find the simplest ways to help grow and change a business to operate as effectively as possible.
What next? So now we have costs to be effective and understand the business we look at how to grow on this new model of sustainability. The owner now has the time to focus on sales knowing that the money coming in the down won't go straight back out.
What comes after that? Well that's a really good question. The complicated thing is that every business is different and every owners goals are different. We need to monitor the business and adapt as the ever changing market does. Having an awesome advisor creates an environment for success and a point of accountability that is honest and raw.
If you don't change and adapt you die that is and forever will be the nature of business. Business is a wild ride but an enjoyable one with the right team and plan.