Posted by : Amanda Stein Saturday, June 29, 2013
Owning a business is the dream of many people who love the idea of making all the decisions, choosing the hours they will work and being in complete control of the company’s fate. At least that is the dream world of owning a business. The reality is much harsher than that as owning a business is challenging and far more complicated than it seems. It is important for small business owners to properly plan and manage, especially when it comes to profits and expenses, and failure to do so is why many start-up businesses fail.
Small Business Management Consultant
A business accountant is more than just someone who handles the financial aspects of a business. In actuality, accountants provide valuable small business management consulting that can help small businesses improve profits and reduce expenses. An accountant can teach you methods for becoming a better manager when you are just starting out, continuing to guide your through expansion and growth. A business management consultant analyzes your market and offers suggestions that will better position your company, helping you increase profits and grow your business.
Set Realistic Goals
One of the most important duties of a small business management consultant is to help you set realistic goals along with specific steps for reaching those goals. A management consultant knows how to assess expected and unexpected costs, compare them with average income and determine how you can reach the benchmarks you set for yourself and your company. Many small business owners think they can handle everything themselves, when the truth is that most of them do not have the knowledge or expertise to deal with day-to-day management. Most entrepreneurs have great ideas, yet give little thought to how to manage the daily tasks that bring those ideas to life. This is where the expertise of a small business management consultant can be extremely valuable.
Preparation for Anything
Viewing your business accountant as a small business management consultant gives you another tool to help your business succeed. By utilizing the knowledge and expertise they offer, your business can be prepared for anything that comes up, whether it is a need for additional staff, a larger workspace or simply dealing with downturns in the economy. The small business management process anticipates market downturns, annual work slowdowns and other factors that often cause small businesses to fail, and puts plans in place to manage those negative market factors. Many business owners neglect to plan for the lean times in their business. For example, construction in some areas of the country slow down significantly during winter months, and failure to plan for this reduction in work often leads to financial problems for many construction companies. Therefore, using a management consultant who can help you plan for the times when your workload is reduced can help you maneuver through the slow times and enjoy the busy times even more.
The benefits of a small business management consultant are evident when planning for periods when your business is slower, but a is actually extremely beneficial when your workload is heavy. Because most businesses begin with an idea, the business owner is often the catalyst for bringing that idea to life. This means that during busy times, they are unable to focus on such daily tasks as balancing a checkbook, making deposits, tracking expenses and sending invoices. Although they may have staff available to perform those functions, the majority of start-up companies operate with a very small number of employees, making it even more critical for management assistance.
If you are the owner of start-up company and want to increase your profits, consider your business accountant as the perfect small business management consultant. They offer a wealth of information and advice that could not only keep your business running, but also help it succeed, expand and grow more rapidly than if you managed everything on your own.
This post comes from the marketing team at Business Result Accountants, a Brisbane firm taking small-medium sized businesses to the next level, offering an innovative virtual CFO package.