They get the job done. They take care of the compliance and filling in the forms. The information they supply to you is good to know, but doesn’t really affect the day to day operations. Or the strategy of the business for that matter.
Should you expect anything more?
When you have an accountant working with your business your chance of success is far greater.
This improved chance of success comes out of three key areas:
“We do not get unlimited chances to have the things we want. Nothing is worse than missing an opportunity that could have changed your life.” -Anonymous
You will be able to uncover more opportunities.
This happens as a result of two separate effects. The first is you are not spending time managing your accountant. And by that, I mean on balance you receive more help from your accountant than you spend helping them. The accountant is helping clear the path of upcoming issues. So when you arrive at the next hurdle, they have already given you some guidance and options. This provides you more time to monitor your business and the environment. Leaving you more likely to see an opportunity as it presents.
The second is from your accountant knowing your business. Their deeper involvement in your business will allow them to help identify opportunities. In their profession they have exposure to a broader cross section of businesses. The opportunities they are likely to come across will be those not in the direct line of sight of the business owner. Those opportunities may also be more out of left field.
The next piece of the puzzle is choice. An accountant will be able to help you assess and understand potential of opportunities. Having one with a deep understanding of your business will improve the insight provided into potential opportunities. This understanding and insight will allow you to make informed choices.
Saying no to an opportunity that is not the right fit for the business will be easier. You will have access to information that will back up what your gut is telling you.
The path you walk will then be one chosen on purpose and not just leaving it all to fate. Plus, it will give you a greater chance of achieving the goals you have set yourself.
Being responsive when you do make a choice to take an opportunity. Or when you change the direction of the business, or any decision for that matter. Having an accountant as part of your team will allow you to act faster in making these decisions. Your response time to act on opportunities will be quicker. This in turn will assist the success rate in seizing opportunities.
The same benefits occur when you are having to respond to a threat. You are likely to move quicker and more effectively, providing greater protection to your business. And, when the threat has passed, it puts you in the best place to take advantage of the next opportunity.
If you want a business that is exceptional, you should have the same expectations on those that support your business. This includes your accountant.
Keep looking as there are many exceptional accountants out there. And they are worth finding.
About the author
Justin Hogg is the founder of Right Source. He is passionate about driving change in the expectation of what an Accountant is and does, and at the same time raise the bar on what we expect of and from accountants.
If you would like to hear more or share some of your experiences over a coffee, feel free to email on email@example.com or call 0414 896 696.