Ed’s Top Tips – Tip 9 – Make Friends With An Accountant

Tip 9: Make Friends With An Accountant

Ed Goodman, business mentor, author and co-founder of Cambridge Business Lounge, presents Ed’s Top Tips – a series of short and useful guides for starting and running a business. This week’s topic: make friends with an accountant.

When you start out with your business, the last thing you think you need to do is speak to an accountant. You might think that because you’re only a sole trader that seeking expert accountancy advice isn’t necessary at this stage. You’d be wrong. Everyone needs to submit a tax return and HMRC aren’t the easiest people to communicate with.

The finance side of the business might actually be the hardest to deal with. You are an expert in your own field but the major point is you a not an expert at every part of your business. This is why seeking expertness of accountants, marketing professionals or designers is going to give your business the edge over the competition.

If your like myself and find anything to do with numbers or finance is dealt with burying your head in the sand, then your business isn’t going to have the success you dream it to be. Watch this video where Ed emphasises the importance of seeking out an accountants advice:

 

Action Point:

Go make friends with an accountant. This will broaden your network and you’ll have professional expertise about a subject you are not an expert in.

Have you met any accountants at networking events or Twitter chats? Why not mention to them your starting out in business and find out if they do offer a free consultation and book it! This will allow you to ask as many questions about how you go about doing your tax return, how to process your expenses. This is then a relationship which will help you in the future as your business grows.

Tell us how you found your accountant and how you’ve found them benificial to your business. Leave us a comment below or Tweet us using the hashtag #EdsTopTips