This seems to be a perpetual topic for small business owners/entrepreneurs and with the focus of the most recent speech by President Obama being on job and job creation, I thought it appropriate to (re)visit this topic. (more…)
So you’ve heard about the cloud. You’ve heard about virtual assistants. You’ve heard about virtual bookkeepers & accountants. But how do they do that?
So you started a business…against the odds and against all the statistics about business failure. But I have a secret to tell you and I’m sorry that I’m the bearer of bad news but you’re still in danger of failing. Why? Because if you’re a solo-entrepreneur who does everything, you really don’t have a business – you have a hobby or a part-time/side job.
So how do you break free of the hobby/side-job trap? Stop doing everything, stop wearing all the hats (marketing, bookkeeping, sales, building your widgets). Stop being a Jack-Of-All-Trades, Master-Of-None …or Jill-Of-All-Trades. Just STOP!
Most new business owners (and even veteran business owners) get nervous when thinking about not doing everything themselves. Automatically thinking that the only way to stop doing everything is to hire an employee… the cash register of the expenses racking up starts sounding off in their heads & the budget starts going all wacky but it that’s not necessarily the case. There is an answer, in my opinion that answer is…Outsourcing.
I know it is scary and it might feel like a big step but outsourcing non-essential tasks to a virtual assistant or a freelancer might be the saving grace for both you and your business.
Here are a few suggestions/tips for outsourcing:
- Get Organized – set clear expectations, it’ll save you and your freelancer some heartache in the long run
- Task Oriented – find a freelancer that works by task not time spent on the task
- Do What You Love – if you love it, have a passion for it, even if the task is non-essential, do it… and get rid of everything else on your plate
With both of us in mind… the website and blog has been revamped, redesigned, rewritten, relocated and ….relaunched!
Revamped & Redesigned from this…
Rewritten…there’s tons of new content and new blog posts so explore.
Relocated…with tons of online real estate, there is plenty of room to grow.
Relaunched…hope you enjoy it and visit often!
Disclaimer: This started off as part of a weekly roundup but as I was writing the excerpt/summary for it, it took on a life of it’s own. Enjoy ~Joyce~
Quote of the Week:
“I knew how to print a financial statement from QuickBooks, but I couldn’t tell you what it meant,” from Basics of Accounting Are Crucial for Entrepreneurs – NY Times
It is my philosophy that just because you can do something, that doesn’t mean that you should! Just because Quickbooks, Peachtree, Xero, and on and on and on… allows you to do the bookkeeping and accounting yourself, it doesn’t necessarily logically follow that you should be doing the bookkeeping and accounting.
Now, don’t get me wrong. I am an huge advocate of being self-aware, empowered, doing things for yourself and, extremely important, taking responsibility for the financial health of your business but I’m not an advocate of keeping my valued clients in the dark. We all have the same 24 hours in each day. If that time is better served becoming more proficient at your “front-office” stuff… you know the thing that you do, that thing that you provide to your clients/customers… then you should be doing that – instead of the bookkeeping, especially if you’re not at all interested in learning the ins and outs of accounting (because there are just a few of those to learn).
Food for thought: if accounting was so easy, why do most accountants attend a 4year college to obtain the knowledge that you presume to buy in a box off of a shelf? And why is the CPA exam consistently listed as one of the most difficult exams (ahead of the bar exam and some engineering certification exams)?
Anyway, stick to or pursue what you love. “Do a job that you love & you’ll never work a day in your life” ~Confucius.
Agree? Disagree? Let me know – I’d love to hear from you.