I know as a business owner, you have products and services to keep track of, staff to manage, customers to attend to, marketing to prepare, let alone the other millions of things which rely solely on your final approval or expertise.
Your time is precious, so when you’re not operating the essentials of your business – you’re off enjoying all the trappings of your success, right?
Oh, that’s right. You’re not spending your spare time relaxing because you’re probably working back a bit because you have to squeeze in doing the bookwork, too. You’re spending some of that ‘off-time’ going through all the accounts, paperwork and lodgements yourself. Add to that the irksome feeling, the dark cloud just overhead, which is your knowing that the next lodgement date looming just around the corner! Not only do you have to do all this extra ‘accounting stuff’, but now you have to rush, too!
Why are you doing this to yourself? You’re an expert in your business, not in bookkeeping or accounting.
What’s more, do you really know how to maximise all the tax savings available for your business? Do you understand how to depreciate, claim and take advantage of all the tax minimising options out there? Will you overlook something in your rush to get your lodgement done on time, which might end up costing you thousands of dollars down the track?
You don’t have time for all these uncertainties – remember, you’re running your business, not an accounting firm.
This is the point I really want to emphasise to you today. By not using professionals and outsourcing your non core work, you’re wasting a lot of time (and money!) in an area you’re not proficient in, when you could be working in the areas you are an expert in, such as bringing in more customers (money!) for your business. All the more that it makes sense why you should hire an accountant.
Don’t get me wrong, I’m not suggesting you’re incapable – but I’m not talking about just hiring a book keeper here. If you want to rest easy about your business’s future, increasing your profit and freeing up your time, you really do need to hire professionals accountant with extensive in their specific industry. For example, think about these two examples:
- You decide to do your own books instead of hiring a bookkeeper. In the time it takes you to do your own books, you could have met with and sold to many potential clients. How many additional sales would you have made if you were not spending that time doing your bookkeeping? To add salt to the wound, chances are that a bookkeeper can do it in half the time that it took you to do it and will end up costing you less because your accountant would not be making as many adjustments to your records.
- You push to do your own admin. Again, how many potential clients could you have met? What could you have done with that free time? Spend time with the family? Enjoyed a night out? Is it time to hire your next staff member to help you with the admin? If not, than have you considered hiring a Virtual Assistant?
For example, I make sure all my clients’ accounts are water-tight by staying on top of all the latest rulings for tax minimisation, as well as buying them more time with Lodgement Extensions. Because of my business acumen, I’m able to assist my clients in maximising their profits and cashflow, while minimising their expenses and taxes.
What’s more, I get to enjoy the fact I give my clients freedom. Not only are their taxation worries taken care of, but through my guidance and planning, they know their path ahead is rock solid. They can go home every night with the feeling of security, which allows them to truly enjoy spending their off-hours the way they always intended: doing what they love, with those they love.
Everybody can do with a little extra time in their lives. What’s the value of yours?
Give me a call on 1300 135 918 for a no-obligation chat about your business and your situation, whether it’s about business mentoring or filing for a lodgement extension, me and my team can help!