If you run a small business, chances are you’re spending the majority of your time running your business – and thinking like – a business owner, and not like a CEO. If your business is thriving, but not growing, this may be the reason why.
There is always a tipping point in growth, where business operations begin to be stretched by the demands of the increasing complexity in a business. When you reach this point, you have two choices: either pause on growth to keep the business at a manageable level or change the way you manage. Hiring an .accountant can help you scale your business.
Accountants are Focused 100% on Your Business Financials
Most small business owners take the least amount of time and spend the least amount of resources on their bookkeeping. In fact, many small businesses function just fine with the business owner’s wife/husband/son/niece/cousin (fill in any untrained relative in this space) looking after the books.
Generally, small business owners reach a point in their growth that collecting money and paying bills is no longer providing them with the answers they need to make business decisions.
An Accountant Helps You Manage the Metrics That Matter Most
About 25% of the 1,000,000 businesses that are started in North America fail within the first year. Additionally, 80% close their doors within the first five years and only about 30% of all businesses started in last 10 years will make it past the decade marker.
One of the biggest contributors to the success or failure of a business is cash flow and tracking your dollars. Having an accountant who focuses entirely on managing the metrics that matter most in your business is the best strategy for long-term success.
Having a .professional accountant on your roster is a surefire way to ensure your business is not only running smoothly, but on the trajectory for continued growth and success. Don’t wait — hire an accountant today!