Why do business owners search out the advice and council of new business accountants? Don't you have one already? Is your current business account unsatisfactory in some form? Are you unsatisfied with their results? Why?
It seems doubtful in the extreme that a business would be successful for five, 10, or twenty years without qualified business accountants on the payroll. So what's up?
Usually from my experience, business owners like you who are trying to find an exciting new business accountant relationship are looking for somebody to help navigate the complexities of current and future tax laws and the tough to understand tax laws faced by all businesses and enterprises like yours particularly. Aren't you looking out for someone to provide tax planning information so you can maximize your day-to-day and long-term efforts?
Naturally you would like somebody more technically savvy than the business account you already have or you wouldn't be ready to consider making a change, or is there one more reason? My observation is that while entrepreneurs expect their accountants to understand the tax laws and how they apply to them, they're also hunting for somebody they feel comfortable with from the standpoint of coaching for leadership.
During their initial interviews with business accountants - where they will probably come to the conclusion whether this one or that one is the best accountant for them, they will very probably make their decision based mostly on their "gut feeling" about the individual they will be telling their deepest darkest strategies to for several years to come.
Naturally small enterprise accountants, all executives for that matter, need you to ask them questions during those initial interviews. They're ready for that with volumes of pat answers. What you should be trying to find are the kinds of questions they ask you. Everytime they ask a question it tells you a touch more about their viewpoint in tax matters and lots of other things.
Naturally you are on the lookout for the best planning for your business it's possible to get. However if you do not like their viewpoints on matters not related to tax laws you'll hesitate to take them seriously on the difficulties for which you are engaging them. You are not looking for a new buddy, finding fantastic small business accountants should not be some type of popularity contest and this is not a "rent-a-friend" proposition.
Nonetheless you want to give them respect on a few levels to work with them successfully over time. As a successful business owner you've a well developed and ultra sensitive BS detector, so based primarily on what you hear during that first interview, yes interview - you are interviewing them for this crucial role in your business, you'll be able to say who you're handling if you are listening.
There's a test that I mostly recommend called the NIH Syndrome Research (Not Invented Here Syndrome) that will help you to see them for who they really are.
Small business accountants, for one reason or another, frequently fall into the mistake of believing that the last sensible idea to come along was theirs. And if they know lots more about you and your business than any other person it becomes easier and easier for you to go with their brilliant ideas without any question.
The bankruptcy courts and tax court records are scattered with examples of situations where business accountants and other execs let their clients go down the incorrect trails quite innocently and quite unintentionally - because they were blind to the ideas of others.
Tax planning, planning period, is a never-ending process and the landscape and opportunities are in continual flux. Unless your small business accountant is willing to listen to you, keep up to speed thru continuing education authentications, and call in experts for you when they are in doubt, you are not going to be contented with the results.
Here is a easy tip. Listen for them to say, replying to a question you ask, "What would you suggest?" or "What do you think?" or "What have you heard?" or "What do you really think might work here?" or something along those lines. Listen to their answer to your answer. If they ask your opinion and offer topical feedback, something your BS detector deems deserving of the sort of person you need as a pro counsellor - you are on the correct track toward the selection of the right. Small enterprise accountant for you.
If they do not ask "What do you think?" or something similar, they are depriving themselves of the existing, and doubtless best, thinking on the topic because you know your business better than anybody and you have been brooding about this for some time and doubtless have debating it with your mastermind group of successful contemporaries.
Additionally , if they don't ask "What do you think?", it's not possible for them (and you) to check their hunches. You will never know when they don't understand the issue, issues, history, etc.
And most vitally of all, they are not helping you believe the problem through and they're showing a disregard for your opinion that will not maintain a productive relationship over a period.
It seems doubtful in the extreme that a business would be successful for five, 10, or twenty years without qualified business accountants on the payroll. So what's up?
Usually from my experience, business owners like you who are trying to find an exciting new business accountant relationship are looking for somebody to help navigate the complexities of current and future tax laws and the tough to understand tax laws faced by all businesses and enterprises like yours particularly. Aren't you looking out for someone to provide tax planning information so you can maximize your day-to-day and long-term efforts?
Naturally you would like somebody more technically savvy than the business account you already have or you wouldn't be ready to consider making a change, or is there one more reason? My observation is that while entrepreneurs expect their accountants to understand the tax laws and how they apply to them, they're also hunting for somebody they feel comfortable with from the standpoint of coaching for leadership.
During their initial interviews with business accountants - where they will probably come to the conclusion whether this one or that one is the best accountant for them, they will very probably make their decision based mostly on their "gut feeling" about the individual they will be telling their deepest darkest strategies to for several years to come.
Naturally small enterprise accountants, all executives for that matter, need you to ask them questions during those initial interviews. They're ready for that with volumes of pat answers. What you should be trying to find are the kinds of questions they ask you. Everytime they ask a question it tells you a touch more about their viewpoint in tax matters and lots of other things.
Naturally you are on the lookout for the best planning for your business it's possible to get. However if you do not like their viewpoints on matters not related to tax laws you'll hesitate to take them seriously on the difficulties for which you are engaging them. You are not looking for a new buddy, finding fantastic small business accountants should not be some type of popularity contest and this is not a "rent-a-friend" proposition.
Nonetheless you want to give them respect on a few levels to work with them successfully over time. As a successful business owner you've a well developed and ultra sensitive BS detector, so based primarily on what you hear during that first interview, yes interview - you are interviewing them for this crucial role in your business, you'll be able to say who you're handling if you are listening.
There's a test that I mostly recommend called the NIH Syndrome Research (Not Invented Here Syndrome) that will help you to see them for who they really are.
Small business accountants, for one reason or another, frequently fall into the mistake of believing that the last sensible idea to come along was theirs. And if they know lots more about you and your business than any other person it becomes easier and easier for you to go with their brilliant ideas without any question.
The bankruptcy courts and tax court records are scattered with examples of situations where business accountants and other execs let their clients go down the incorrect trails quite innocently and quite unintentionally - because they were blind to the ideas of others.
Tax planning, planning period, is a never-ending process and the landscape and opportunities are in continual flux. Unless your small business accountant is willing to listen to you, keep up to speed thru continuing education authentications, and call in experts for you when they are in doubt, you are not going to be contented with the results.
Here is a easy tip. Listen for them to say, replying to a question you ask, "What would you suggest?" or "What do you think?" or "What have you heard?" or "What do you really think might work here?" or something along those lines. Listen to their answer to your answer. If they ask your opinion and offer topical feedback, something your BS detector deems deserving of the sort of person you need as a pro counsellor - you are on the correct track toward the selection of the right. Small enterprise accountant for you.
If they do not ask "What do you think?" or something similar, they are depriving themselves of the existing, and doubtless best, thinking on the topic because you know your business better than anybody and you have been brooding about this for some time and doubtless have debating it with your mastermind group of successful contemporaries.
Additionally , if they don't ask "What do you think?", it's not possible for them (and you) to check their hunches. You will never know when they don't understand the issue, issues, history, etc.
And most vitally of all, they are not helping you believe the problem through and they're showing a disregard for your opinion that will not maintain a productive relationship over a period.
About the Author:
The Net permits us to easily research the decisions we make in advance so we can move on with confidence when thinking about financial services careers. Considering a big choice of opportunities before we make a decision means we are much more likely to make the correct choice. Avoid the howlers others make when searching for small enterprise coaching in your neighborhood.
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