When was the last time your business had a review?
Any good accountant worth his salt will complete a business review for his client on a regular basis. The purpose of any business review could be to identify opportunities for tax reductions or look at other various aspects of the business such as good expenses and bad expenses, forecasting, budgeting and target and goal setting etc. If you are not having regular business reviews through-out the year with your accountant, then you could be missing a trick because accountants these days are often seen as more than just number crunchers.
Many accountants, including ourselves, are viewing this as an opportunity to work closely with their clients to develop long and trusting relationships and really get to the bottom of what they want to achieve both in terms of the business and personal goal setting. Regular meetups, whether it be it over a coffee, a phone call or a more formal meeting are often structured in a way to help clients look at aspects of their business that may need improvement and set objectives that are achievable, measurable and accountable.
There is a very thin line between business mentoring and business advice so trying to strike a balance is often difficult for accountants when we are sometimes viewed as both by clients. The days of the grey-suited accountant you meet once a year in a soulless beige office are thankfully behind us, mostly! Cloud technology has brought advisors and clients closer together working towards a shared goal for the prosperity of everyone.
So, pick up the phone and call your accountant and get those meetings booked in, if your current accountant cant help you, then find one that can!