The second piece in a five part series for business owners not quite large enough to warrant a full-time accountant, but not really feeling the love for doing the accounting themselves.
Truth be told, the fact that you are a business owner in the first place is a pretty good indicator that you are good with people. Whether it’s your direct customers or vendor partners, there are relationships that need to be nurtured. When you have months of accounting to catch up on, sometimes these relationships take a back seat. Strong relationships lead to referrals, referrals lead to growth. Are you always telling yourself you need to check in with so and so, but still haven’t found the time? Two questions to ask: 1. Are you currently managing the accounting? And, by “managing,” I mean doing. 2. Is accounting your strong suit? If you answered ‘Yes’ to 1 and ‘No’ to 2, it probably makes sense for you to research outsourcing your accounting. And, if you answered ‘Yes’ to 2, then do this same exercise with all the other functions you are currently tackling. The one you answer ‘No’ to first may be worthwhile outsourcing.
Plus, relationship management can involve fun events like golf, happy hours, or competitive one-on-one arm wrestling.All of which sound preferable to doing your own accounting!