David is the CEO and Managing Partner of the firm AutoPilot Bookkeeping. He lives in Honolulu, HI with his family, and frequently lectures on accounting & tax related subjects.
1. Not enough money, this is the bookkeeper's holy grail. The age old adage "it's not what you make, it's what you keep," always holds true. Maybe you need an expense analysis.
2. Can't get new customers, let's take a review of your advertising and marketing budget, are you overspending? Under funding your marketing? Are you correctly measuring your marketing expenses?
3. Can't keep our existing customers, do you have a customer retention strategy? Learn to embrace your customers, to know them, and to be them.
4. My revenues are too low, does your product mix need help? Do you up-sell your customers? How many products do you have? How many customers do you have? All these questions are related to the data you keep... good data-keeping starts with good bookkeeping.
5. Our Revenues are OK but i'm not sure if we're profiting, good bookkeepers help generate profit by managing the money better and reducing unnecessary expenditures.
6. Employee turnover is up, keeping the best staff is tough... we get it... we bribe our employees to stay regularly.
7. I can't sell my business, bookkeepers know some business brokers who love to help you sell your business.
8. My business partner isn't working out, partnership is important, often times being a good partners starts with addressing the fact that, it isn't working out. So discuss it, buy them out, let's make a succession plan. Life's too short to live it unhappy.
9. We have quality issues with our products, should we do a product budget analysis and implement new cost control mechanisms?
10. My website doesn't work right, what are you tracking? Conversions? Widgets? Sales per hour? Services sold? Classes enrolled? Pizza's ordered?
11. Ordering office supplies, When your bookkeeping is outsourced so will some of those missing staplers.... faster than you can say "we just picked up a couple of reams of paper".
12. We need more room, we perform all our work in less than 400 square feet.
13. My employee is a drug addict, a good payroll service comes complete to handle sending him/her to get tested!
14. We hired who has a criminal record, bookkeepers can pre-screen your new hires before they interview with you, they can get their I-9's and conduct a full background check for additional fees.
15. My prices are too low, do a marginal revenue-to-cost analysis to predict the most profitable point.
16. We just lost our biggest client, that paid more 50% of our revenues, as your business back office a bookkeeper would have urged you to diversify your client base, and develop financial contingent plans.
17. I need good business lawyer, bookkeepers know a few that they can refer you too
18. A customers is suing my business, bookkeepers can issue the refund if that would help.... "gulp"...
19. My biggest competitor just raised $50 million in venture capital, that means you can get $25M or $100M let's dust off the pro-Forma and start talking to investors.
20. Nobody knows my business, once upon a time Honda used to be a little bitty car company. Focus on what you can control and get moving!!!!
21. All this government paperwork is killing me, yep, bookkeepers deal with this... call one.
If you liked this guest post check out David's site and give him a shout. I'm sure he'd be happy to tell more reasons why a skilled accountant can help your business. www.autopilotbookkeeping.com.