Finding the Right Advisor for Your Business
Posted on 15th August 2021 at 21:04
Partnering with the right accountant or bookkeeper can make a massive difference to your small business. If you don't believe us, here are two hard-hitting facts that back up this statement:
1. A UK survey of 1,500 small businesses found that those with an advisor work an average of 6 hours less every week than those without.
2. During the 2020 pandemic, businesses that thrived would consult professionals like accountants and bookkeepers before making important business decisions.
The question remains then, how do you find the right one for your business? Here are 3 steps to take.
Step 1: Know what your needs are
Many business owners tend to get stuck with an accountant that isn't the best fit for them because they don't really know what they need from them. Before you start your search, really think about your business. What systems and processes do you need help with? Do you just need compliance services or more of a business advisor who can support you as you grow?
Step 2: Know what you want from your accountant or advisor
Now you know what you need from your accountant (in terms of services), you should start thinking about what's most important to you. What industry do they need to be a specialist in? Do you prefer a certain size of business or client portfolio? Will you prefer to have face-to-face meetings or a lot of contact? Do you want an accountant who's savvy with cloud computing?
When you know exactly what you want from your accountant, beyond just the service, you will be far more successful in your search.
Step 3: Take the time to research and test
Finding the right fit takes time and patience. Think of it as a puzzle. Each piece you pick up is a candidate and you have to figure out where it goes and if it even fits.
Meet with the potential advisors that you're considering. Do they really understand the specifics of your business or industry? Do they seem proactive, not just in saving you money but helping you grow your business? Are they excited about working with you? What does your intuition tell you about them?
This is an incredibly important decision to make so take your time with it.
Now is the time to find the right advisor
It's going to be another difficult year for many small businesses, so this makes having the right accountant or bookkeeper even more important. Make sure to give yourself the best chance of success by finding the right one for your business now.
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