Hiring Archives - Number Nerd Bookkeeping Solutions

October 24, 2018

What It’s Like To Work With A Consultant

What's it like to work with a consultant? There’s a big difference between coaching and consulting, and both are vitally important to the success of your business–no matter what stage you’re in.

A coach is a good investment when you’re looking to jump a mindset or business hurdle, like getting to the next income bracket or overcoming a challenge with pricing your services. They’re often certified in coaching and work with businesses across a wide range of industries. A coach will talk you through decisions and then help you come to an outcome that feels right for you.

But a consultant is different. They’re still a good support system in your business, but they’re truly an expert in their industry. A consultant has had measured success in what they do and can look at your business and really analyze the steps you need to take to meet the goals you want to reach.

A consultant isn’t going to help you decide what feels good. A consultant is going to tell you what you need to do to get where you want to go. It’s more strategic and it’s more definitive.

A consultant isn’t going to help you decide what feels good, they’re going to tell you what you need to do. Click To Tweet

If you’re feeling stuck in your business because you’re not reaching the goals you defined for yourself, you may need to invest in a consultant. Especially if you want to be in a growth phase of your business.

What should you look for when hiring a consultant?

Accounting and bookkeeping consultants come in all shapes and sizes, just like any business owner. I recommend doing your research to find a few consultants that resonate with you, then getting on the phone or Zoom with them to make sure that you have a camaraderie with them. The consultant you hire should have documented experience in reaching goals similar to what you’d like to do.

Any consultant you hire should have documented experience in reaching goals similar to what you want to do. Click To Tweet

Aren’t consultants my direct competition?

It’s true that consultants should have expertise in your field and in the specific goals you want to reach, but that doesn’t make them your competition. Many consultants are no longer practicing in their industry, preferring instead to help others get on their feet. And those who do still work in the industry tend to work with higher-end clients who you likely won’t pursue. Either way, you should be careful that the consultant you hire have a confidentiality agreement and non-compete clause in their contract.

What if I don’t want to do what my consultant recommends?

Of course, your business is yours to do with what you’d like. But candidly, you hired the consultant for a reason. And consultants aren’t cheap. If you’re morally or professionally opposed to the consultant’s recommendations, have a conversation about it and see if something else fits better for your business. Remember, too, that you’ll want to do a lot of research on your prospective consultant before plunking down money on a large consultation package.

What resources will a consultant bring me, aside from ideas?

Since consultants have been in their fields for many years, many have systems and workflows they’ll help you implement in your business. Personally, I have a Business Workflow Template Shop and I often share these templates with my consulting clients–so they can quickly and effectively implement the strategies I recommend.

July 24, 2018

How To Prep Your Business For Growing A Team

Every business is different and every business owner has their own set up goals and aspirations. If you’re looking for more freedom and less time working inside your business, growing a team might be on your bucket list.

But simply hiring people to work with you isn’t going to give you any kind of freedom–especially if you’re not ready. You need to be equipped, both financially and with systems in place, if you want the freedom a team can provide.

Think you’re where you need to be in order to hire a team? Make sure before you take the plunge.

Know Your Financials

You don’t want to bring on contractors or employees without having your financials solidly in place. You need to know that you have the budget to pay for a new hire, and that you’ll be able to pay for their services down the road. There are few things worse than bringing someone onto your team, coming to depend on that role, only to find that you weren’t really prepared for the expense.

Don’t bring someone onto your team & depend on them if you can’t afford them in the long run. Click To Tweet

Brain Dump Tasks

Before you decide to hire someone, you need to know what role you’re looking to outsource. It’s hard to take an objective look at what you want to let go of until you know exactly what it is you do in your business on a day-to-day basis.

Brain dump every role you take on in your business, categorized by topics–sales, marketing, networking, bookkeeping, client work, etc. Then write the tasks that you take care of in each of these categories. Even the tasks that seem unimportant, write it down.

Evaluate Your Tasks

If you want to start outsourcing to team members, you need to do so strategically. Let go of the tasks that are better served by someone else. Ask yourself: What are you not good at? What do you never seem to find the time for? What do you hate doing? Answering these questions will help you to identify the roles you should outsource first.

Know what you’re good at and not before deciding what to outsource. Click To Tweet

Outline Processes

Bringing someone new onto the team requires training, even when you hire someone with expertise in their field. As the business owner, it’s up to you to let team members know how to do something inside your unique business. You have a certain way you want things done, whether it’s a client assignment or something to help you market your business.

I make a list of the steps for a certain task, then record a video of me actually doing the task. This helps me ensure that the entire process is complete from beginning to end, and gives the team member a visual–which helps to improve comprehension and lowers the chances of error.

Communicate, Communicate, Communicate

Your team members will come to you with their own unique ideas and ways of doing things. While you can teach them your processes, they are not you. Even when following your systems, your team members will not do the task exactly how you would. Sometimes, they do it better. Other times, you may need to course-correct a bit. But always keep lines of communication open and give feedback often.

It’s difficult to grow a business if you’re the only person inside and doing the work. A team can help take things off your plate so you can do what you do best. You just need to be able to do it right, with the right systems in place and the finances to back up your hire.

February 6, 2018

Hiring An Accountant: What You Need To Ask

We’ve gone from the most wonderful time of the year (the holidays) to the most stressful time of the year (tax season). If you’re a business owner and your books are less than organized, you know exactly what I mean.

As tax deadline looms, I get a lot of inquiries from businesses who need help cleaning up their books. They didn’t do a good job of categorizing expenses or tracking subscriptions over the last 12 months and now they’re worried about what that tax bill is going to look like.

While I don’t do taxes (I recommend a CPA that has experience in your industry), I do work with accountants on a regular basis. Some are incredibly organized and are a great resource for me as we help our mutual clients make the best possible financial decisions. Others, however, simply do what the client asks rather than what’s in their best interests.

If you’re a biz owner, you need a CPA. Vet your prospects thoroughly before hiring. Click To Tweet

If you’re looking for an accountant in this tax season, interview them as you would any new hire in your business. Here’s a list of some of the questions you should add to your list.

What experience do you have in my industry? A good CPA will know the level of detail you need in your income and expenditures for your particular business. This includes identifying and tracking revenue streams, expenses for specific products and services in your industry.
Have you ever worked with a business like mine before? There’s a big difference in expenses for a small brick and mortar retail store vs. a home-based service business vs. a large industrial shop. For example, a $12k ink or office supply expense is a no-brainer for a large print shop, but is clearly an error for a small retail store. A good CPA will recognize things like this and ask you about them.
Will you work with my bookkeeper? Most CPAs don’t do bookkeeping work and rely on professional bookkeepers to keep up your books. However, some CPA firms do have bookkeepers on their team. With that being said, if you already have a bookkeeper be sure and let your CPA know. In addition, you’ll want to ask if your CPA will work with your bookkeeper and recommend any changes or adjustments needed to your bookkeeping records. Most CPAs will be happy to be work with your bookkeeper. And if they know you have a bookkeeper on your team, they will most likely provide you with adjusting journal entries at year-end.
Can you explain your processes and your expectations of me? Your CPA needs needs to get to know you and understand your business–in essence how you make and spend money. Each CPA has their own way of getting data from you: a questionnaire that you fill out, access to your accounting software, financial statements and a copy of your general ledger report. It’s important to have an actual conversation with your CPA as well. Make sure you know up-front how you’ll be expected to share that information and if you are required to complete a questionnaire or upload your data securely to a program they use.
Can you provide references? Everyone needs to start out somewhere, even accountants. But if a CPA can’t provide any client references, consider that a red flag. Get a few references and follow up with them. Be sure and check if they have experience in with your industry and how they are about responding to questions you might have.
Do you provide tax planning? I think this is self-explanatory, but it’s important to ask the CPA how they will be able to help you lessen your tax burden. This is especially important if your business is on the upswing, adding team members, opening a new location or if you’re transitioning from side hustle to full time. You will want a CPA on your team that can advise you of what to do or not do to lessen the amount you’ll owe at tax time, and thus help you plan throughout the year.

Doing your own taxes as a business owner is like … as a rule of thumb just don’t do it. It’s not your expertise and laws and rules shift so quickly that it’s impossible to stay up-to-date. Instead, find a qualified CPA who has your best interests in mind–and who has experience in your particular industry. And one that can help you with tax planning too!

March 9, 2017

Know Your Strengths and Where You Need Help

Money is tough to talk about, to your business coach, to your bookkeeper and even with your significant other. It’s a trigger in many marriages and can make or break a business.

That said, it’s frustrating to talk to business owners who struggle with numbers and balancing their business budgets—but who tell me that their business coach doesn’t want them to hire a bookkeeper.

Here’s the thing. There’s a lot of things I’m not good at. Managing my inbox, for one. Writing, for another. And because of that, I hire help. I know that I can’t do it alone and that if I want to be successful I need someone to show me how it’s done or do it for me.

You can’t do it alone if you want to be successful. Need help with numbers? Trust your gut. Click To Tweet

For example, I can’t cook. At all. I’ve tried to grill up some chicken or throw together a Crock Pot casserole and I fail miserably every time. Not only that, but I dislike even trying. My boyfriend travels a lot for business so when he leaves town, I can count on him to leave me a refrigerator full of some of my favorite meals. Yep, he’s a great partner. But he also knows my weaknesses and is there to help me out.

That’s what it’s like in business. We can’t do it all ourselves; we need help. That’s what community is all about.

Money is one of the top areas where entrepreneurs struggle.

From pricing services to balancing the books, paying out taxes to reconciling accounts. If you struggle with it, doesn’t it make sense to get the help you need so you can rest assured that your business is staying profitable?

Money is one of the top areas where entrepreneurs struggle. Listen to your books and get help. Click To Tweet

Think about getting your finances together for taxes.

How’s that going? If you’re struggling with reconciling last year’s bank statements and can’t remember what some of your receipts are for, you need a system or you need a bookkeeper.

I’m not saying that you can’t manage your books yourself—likely, you can. But it might take someone walking you through some best practices so you can get on the right track and get a good system in place. So next year, come tax time, you have all your paperwork together and in one place. And you don’t have to remember what that credit card charge was for last June.

If you have the slightest bit of queasiness when it comes to numbers or balancing your books, please talk to a numbers professional. Think of it like your health care. You’re not going to see a dentist about delivering your baby; you’re going to see an obstetrician. Your dentist might tell you that it’s important to take care of your gums during your pregnancy, just like your business coach might tell you that it’s important to keep tabs on your numbers. But talk to a bookkeeper about the best way to make sure your books are in the best health possible.

October 13, 2016

Find the CPA That’s Right for You

Your accountant is a big part of your business—even if you only talk to her a few times a year. She could, quite literally, keep the IRS off your back and help your business save money and grow.

But the right accountant for you may not be the one your business bestie is using. There are a lot of factors to consider when looking for the person responsible for ensuring you’re abiding by all state and federal tax laws. It’s a tall order!

Before you choose the first accountant you talk to, consider some of these important factors.

Personality

Personality really does matter when it comes to hiring—even if your contact is limited to a few times a year. You want someone you can work closely with, should things get hairy. You don’t need to be BFFs with your accountant, but she should be approachable if you have questions. And, more importantly, she should be able to explain what she needs and where you are financially in a way that you can understand.

Big-Picture Attitude

Your bookkeeper will keep your finances in line on the day-to-day matters; your accountant should pay more attention to the big picture. She should spend the time interviewing you about your business and how you’ve handled money and taxes in the past. She should understand how you conduct business and where you often have a surplus or shortfall. She should be able to communicate with your bookkeeper, so she can take the day-to-day and apply it to your finances over the course of time. This big-picture perspective will help your business grow and make you feel more comfortable about where your business is going.

Industry Experience

Chances are, your accountant has some experience under her belt. But does she have experience in your particular industry? Not every business is the same, and different industries have different factors to consider when it comes to management and accounting. E-commerce businesses have a lot of balls in the air, including sales tax, shipping, outsourcing, etc. Your accountant needs to have an understanding of your industry and know the laws in your state to help keep your business in check.

Tech Savvy

There’s no excuse today for an accountant who doesn’t streamline their processes with online systems. They’re affordable, easy to use and allow for a workflow that saves time and money. They should be familiar with QuickBooks Online, Wave or other online systems, she should be able to easily grasp what you’re using in your daily bookkeeping so you’re not paying for yet one more tool. Especially if you’re in a business that runs primarily online, you’ll be beyond frustrated if your accountant isn’t as tech-savvy as you.

Mid-Year Checks

I’ve heard horror stories from accountants about “that client” who showed up with a shoebox full of receipts and no clue how to access their bank statements. But it’s the accountant who’s at fault. If they’re waiting until tax time to meet with you for the first time, you’re in for a long and painful experience—and a hefty bill. Find an accountant who performs mid-year checks and helps with quarterly estimated tax payments. You’ll be less likely to miss a deduction in April, and your tax bill will be much less painful.

No matter where you find your new accountant, be sure to ask around. Check out her website, talk to other business owners, check references and ask a lot of questions before you choose. If done right, you’re in for a lasting relationship with someone who has your best interests at heart.