We had a couple of interesting things happen over the past week. A few articles came out and they just kind of corroborated some things that we hear our new clients say when they come into our advisory office.
One of them is that 70% of entrepreneurs and small business owners do not have an accountant.
Most entrepreneurs handle "the books" themselves. But what it comes down to is that even if you can type in data, are you putting it in the right spot? Is it going to generate a report that's going to tell you something that's relevant?
If you're just entering data into a program and then you just enter that in your tax return, of course, that is a function that needs to be done. But if you're not interpreting that, if you're not looking at things and trying to find out what our margin really is, say, are you really profitable in this division? What are you really making a profit at? Why are these expenses higher or lower? Are you the right entity type? What's your tax situation?
This happens if you're just literally throwing data against the wall and then doing a tax return. And as an entrepreneur and you don't even know if it's in the right category, how can you possibly assess how your business is doing?
Running a business doesn’t have to run your life.
Without a business partner who holds you accountable, it’s easy to be so busy ‘doing’ business that you don’t have the right strategy to grow your business.
Stop letting your business run you. At Harper & Co CPA Plus, we know that you want to be empowered to build the lifestyle you envision. In order to do that you need a clear path to follow for success