The Sooner You Ask Your Accountant This Question, The Better
In today’s blog post I’ll be sharing a question every entrepreneur should ask their accountant. Why? Because it serves as a useful litmus test in helping to determine whether or not they’re the right person for the job – the job of keeping your small business accountable to your objectives and steering you towards (your definition) of success.
It’s a simple question, made up of only five short words, and here it is:
“What do I do next?”
That’s it. Here’s the caveat though: the point isn’t so much to put their vast accounting knowledge and wisdom to the test (although that can be useful too), but rather to find out whether or not they even understand your business goals in the first place.
Maybe it’s a bit of a trick question, but I still think it’s an important one to ask. If your accountant doesn’t understand what your goals are and why you started your business, how can they provide proper guidance and steer you in the right direction?
Most accountants will likely give you an answer that aligns with “making more money” – a fine goal to have – but if starting your own business was only about that, there are easier ways to turn a profit than diving into the crazy world of entrepreneurship.
There are other currencies that come with owning a small business. Things like your freedom, access to your time, equity in the career you’ve built, and the proliferation of your values, your art, or your passion.
Money is important, but these other currencies are, I think, where the true value of owning your own small business lie. The sooner you ask your accountant this simple five-word question the better. Because if they don’t understand your goals, it’s time to find someone who does.
Ready to work with a team of small business accountants and consultants who see things differently? A team that takes the time to understand your definition of success? Give Ken and the Blue Sky team a call today: 289-466-5210