One of the things I realized that I was going to need to do if my business is to grow is to learn more about business accounting. I’m not prepared to go back to school for it, but I do need to be able to successfully manage my company and help it to grow and thrive, and to do that I need a much better understanding of business accounting than what I currently have.
I think that when you step out and start a company, you really just need the drive and the motivation to really make it into something. You need the knowledge of the area that you are working in, and the ability to work long hours and push really hard for it to become a reality and to become successful.
But as the company does reach some levels of success, you need to also grow in the business side of things, otherwise the rest of the company is not going to continue to grow at a quick pace. So, for me, I think that I need to hire a business accounting firm that can come in and consult with me on what I need to be able to do, what I need to know, and how I need to get to that level of understanding when it comes to the business side of the business. For me, this means hiring a consultant who can actually teach me the things that I need to know and be able to do on my own for the company to keep growing. But it also means that I will need to hire them to continually take care of some of the things that are over my head.
I can’t keep doing all the work myself, and so having a consultant in here who can train me and also keep things going that are beyond my scope is really what it comes down to. Then, if the company does continue to grow, I may be able to create and staff an actual accounting department that can take over all of that from me and from the business accounting consulting firm. This would be the ideal way for the business to grow. Have the person in here who can teach and train me on the things that I can do myself, but then also take on the role of doing the things that I can’t really take on.
This is what I will need going forward for sure, because it already has reached a point where it is just a bit too far over what I am capable of keeping up with, and I’m starting to worry a bit that I am going to get an audit or turn in a tax return that is too low or too much money, which would trigger an audit of my business. I want to avoid that possibility, which is more than enough reason for me to get someone in here who can actually help me process this in the way that it should be done.