Accurate Record Keeping
Why a bookkeeper
This Is Why
We Should Work Together
Gives you back time
You could be wasting time and money by doing this task yourself.
Peace of Mind
I take all of this over and do it for you. You will never have to worry about your books again
Monthly Consultation
Once a month we will have a chat about your business. Your questions answered
hats
Most people who start a business tend to think of it in terms as doing what they know and earning money at it.
Very shortly after setting out on their own they realise that this is not quite the real deal.
As a business owner you must do everything, we are calling each job a hat for the purposes of this article.
Many businesses are organised into different departments. Each department has a specific function.
A self-employed person must assume each role, in order, to run the business effectively. Like putting on a different hat, but when you put it on, you become, the department. Please see organisation chart below
The Real Deal
The real deal is this:-
You have to market your business
Sell you product or service
Through management of operations deliver the service or product
Implement an administration process to handle your business functions and paperwork
Record their financial activities and submit to HMRC being careful to stick to the statutory guidelines.
You sometimes end up spending so much time doing the other stuff that you end up with less time doing what you do best or spending it with loved ones.
Marketing
If nobody knows who you are or trusts you they won’t hire you.
So the objective of marketing is visibility and credibility.
Visibility
You must find who your customers are and get in front of as many of them as you can.
Examples
Putting your company name on the side of your van.
Creating an online presence using a website and social media.
Credibility
People need to know that you can, actually, do what you say you can do.
Showing your certification, testimonials from your customers, sharing tips to help your prospective client base.
This is something that you must do every day.
How much time to you set aside for this each day?
Sales
So you now have some that comes to you interested in your product or service.
They are not quite there yet so you need to confirm to them that you are the right person for them and book the appointment or sell the product.
Selling has 2 main parts pitching and closing.
For someone who is not very good at this they could have the best product in the world and never make any money from it. Selling is a skill that can be learnt.
We all know someone who is a natural sales-person, but not all of us are built like this and need training.
Have you ever considered taking a communications course that will help you to pitch and looked an any publications that could show you how to close a sale?
Operations
This is the part that you know backwards, forwards and upside down. This is where you want to be spending the most time because this is the cash engine of the business.
This is what you saw yourself doing what you had the idea of setting up for yourself.
Admin
Now this is what you didn’t bargain for, paperwork and office stuff. Telephone calls emails, letters and the list goes on.
This may increase with the amount of customers that you have. There may be things by law that you have to provide making sure that you submit the correct paperwork at the right time.
How much time are you spending on this activity every day?
Finance
This is something that by law everybody must have.
You need to be recording all the financial transactions of the business.
This will need to be submitted in a specific format at the end of the financial period. Then there are other considerations that you will need to take into account.
Are you recording this data in a format that will be useful for making financial decisions? These kind of decisions will help you to maximise profit.
Take a look at this activity in your business and let me know how much time you are spending on this every day?
Cost Effective
Many people who work for them selves do their own bookkeeping. I am often asked if it is a good idea for people to do their own books. I say yes of course, only when it is cost effective.
If you can earn more in the time that you are doing your books, then it isn’t cost effective and you are losing money.
If you are unsure and you want any advice, please contact me and I will be able to help you decide.
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