Accountants are your helpers to achieve business goals
Accountant is not just another job or function of your small business, in fact, it can be the one of the best helper to help achieve business goals. You may be missing out a lot from your accountant if you see it as a person who does all the collection of receipts etc. Your accountant maybe good at organising things that have past but he or she can be really good in planning for your future too.
Accountants are trained to help small business owners to set goals and plan for the future, but they can only do so, if you are willing to share some key information and discuss with them. It takes two hands to clap, doesn’t it? The more you are willing to share, the better they can advice. Below are a few questions you might want to think about and share with your accountant:
1. What is the ultimate goal of your small business?
Are you hoping to sell your business to a bigger organisation or you want to run your business as a family business? Different goals will lead to different ways of attaining them.
2. What is your ideal growth figure?
Of course the more the better, but be realistic. Do you want to maintain a small office or do you want to expand to different locations? A good accountant would advice you on how to spend your money correctly in order to grow as you wish.
3. What is your targeted profit?
As much as possible is not really an answer. Running a business is not hoping for miracle, it takes time. If you are thinking of paying everything you earn to yourself, you are not looking far enough. The money that you are not paying yourself can be better used to grow your business. Get your accountant to help you calculate the optimal amount to pay yourself yet able to keep your small business healthy.