Why do entrepreneurs find the advice and council of new business accountants? Don't you have one already? Is your current business account unsuitable in some form? Are you disappointed with their results? Why?
It looks improbable in the extreme that a business would've been successful for 5, ten, or twenty years without qualified business accountants on the payroll. So what's up?
Generally from my personal experience, entrepreneurs like you who are looking for a brand new business accountant relationship are searching for somebody to help navigate the ins and outs of current and future tax laws and the hard to understand tax rules faced by all enterprises and firms like yours in particular.
Aren't you looking out for somebody to provide tax planning advice so you can maximize your day to day and long-term efforts?
Naturally you would like someone more technically savvy than the business account you already have or you wouldn't be prepared to think about making a change, or is there a different reason? My observation is that while business owners expect their accountants to grasp the tax laws and how they apply to them, they also are looking for somebody they feel comfortable with.
During their primary interviews with business accountants - where they will likely come to the conclusion if this one or that one is the best accountant for them, they will very likely make their call based on their "gut feeling" about the person they'll be telling their deepest darkest secrets to for many years to come.
Naturally small company accountants, all professionals in fact, would like you to ask them questions during those 1st interviews. They are ready for that with volumes of pat answers. What you should be looking for are the kinds of questions they ask you. Each time they ask a question it tells you a little more about their standpoint in tax matters and many other things.
Naturally you are searching for the best planning for your business you can get. However if you don't like their viewpoints on matters not related to tax laws you may hesitate to take them seriously on the problems for which you are engaging them. You are not searching for a new buddy, finding excellent small enterprise accountants should not be some kind of recognition contest and this isn't a "rent-a-friend" offer.
Nevertheless you want to give them respect on 1 or 2 levels so as to work with them successfully over a period. As a flourishing business owner you've a well developed and ultra sensitive BS detector, so based mostly on what you hear in that first interview, yes interview - you are interviewing them for this crucial role in your business, you'll be able to tell who you're dealing with if you are listening.
There's a test that I recommend called the NIH Syndrome Research (Not Invented Here Syndrome) that may help you see them for who they actually are. Small enterprise accountants, for one reason or another, often fall into the mistake of believing the last good idea to come along was theirs. And if they know a lot more about you and your business than anyone else it gets simpler and simpler for you to go with their brilliant concepts without any question.
The insolvency courts and tax court records are littered with examples of eventualities where business accountants and other professionals let their clientele go down the incorrect paths 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, stay up to speed through continuing education certifications, and call in specialists for you when they're in doubt, you are not going to be pleased with the result.
Here's a simple tip. Listen for them to assert, responding 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 reply to your. Answer.
If they ask your opinion and offer topical feedback, something your BS detector deems worthy of the type of person you want as a professional consultant - you are on the right track towards the selection of the right small company accountant for you.
If they don't ask "What do you think?" or something similar, they're depriving themselves of the current, and potentially best, thinking on the topic as you know your business better than any person and you have been considering this for some time and without doubt have discussing 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 test their beliefs. You won't ever know when they do not completely understand the problem, issues, history, and so on.
And most importantly of all, they aren't helping you think the matter through and they're showing a disregard for your opinion that will not sustain a productive relationship over a period of time.
It looks improbable in the extreme that a business would've been successful for 5, ten, or twenty years without qualified business accountants on the payroll. So what's up?
Generally from my personal experience, entrepreneurs like you who are looking for a brand new business accountant relationship are searching for somebody to help navigate the ins and outs of current and future tax laws and the hard to understand tax rules faced by all enterprises and firms like yours in particular.
Aren't you looking out for somebody to provide tax planning advice so you can maximize your day to day and long-term efforts?
Naturally you would like someone more technically savvy than the business account you already have or you wouldn't be prepared to think about making a change, or is there a different reason? My observation is that while business owners expect their accountants to grasp the tax laws and how they apply to them, they also are looking for somebody they feel comfortable with.
During their primary interviews with business accountants - where they will likely come to the conclusion if this one or that one is the best accountant for them, they will very likely make their call based on their "gut feeling" about the person they'll be telling their deepest darkest secrets to for many years to come.
Naturally small company accountants, all professionals in fact, would like you to ask them questions during those 1st interviews. They are ready for that with volumes of pat answers. What you should be looking for are the kinds of questions they ask you. Each time they ask a question it tells you a little more about their standpoint in tax matters and many other things.
Naturally you are searching for the best planning for your business you can get. However if you don't like their viewpoints on matters not related to tax laws you may hesitate to take them seriously on the problems for which you are engaging them. You are not searching for a new buddy, finding excellent small enterprise accountants should not be some kind of recognition contest and this isn't a "rent-a-friend" offer.
Nevertheless you want to give them respect on 1 or 2 levels so as to work with them successfully over a period. As a flourishing business owner you've a well developed and ultra sensitive BS detector, so based mostly on what you hear in that first interview, yes interview - you are interviewing them for this crucial role in your business, you'll be able to tell who you're dealing with if you are listening.
There's a test that I recommend called the NIH Syndrome Research (Not Invented Here Syndrome) that may help you see them for who they actually are. Small enterprise accountants, for one reason or another, often fall into the mistake of believing the last good idea to come along was theirs. And if they know a lot more about you and your business than anyone else it gets simpler and simpler for you to go with their brilliant concepts without any question.
The insolvency courts and tax court records are littered with examples of eventualities where business accountants and other professionals let their clientele go down the incorrect paths 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, stay up to speed through continuing education certifications, and call in specialists for you when they're in doubt, you are not going to be pleased with the result.
Here's a simple tip. Listen for them to assert, responding 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 reply to your. Answer.
If they ask your opinion and offer topical feedback, something your BS detector deems worthy of the type of person you want as a professional consultant - you are on the right track towards the selection of the right small company accountant for you.
If they don't ask "What do you think?" or something similar, they're depriving themselves of the current, and potentially best, thinking on the topic as you know your business better than any person and you have been considering this for some time and without doubt have discussing 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 test their beliefs. You won't ever know when they do not completely understand the problem, issues, history, and so on.
And most importantly of all, they aren't helping you think the matter through and they're showing a disregard for your opinion that will not sustain a productive relationship over a period of time.
About the Author:
If you want to be successful, you have to put together a successful team of pros to help you. Frequently the people that manage the progress of the team and its planning are the business accountants you have on board. The Net permits us to simply research the choices we make ahead so we will move forward with confidence when considering small enterprise accountants or starting on your own financial services careers. Considering a wide selection of opportunities before we make a decision means we are more likely to make the right choice. Avoid the screw ups others make when hunting for small company coaching in your neighborhood.
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