Help Your Clients Run Their Small Businesses Like Big Businesses With Today’s Technology
CPA Technology Advisor:
Whenever I sit down with a client, the question almost always comes up: “What can I do to improve my business?” My answer always starts with: “Run your small business like a big business! When is the last time you had a board meeting? Do you have a budget?” Directors, owners and officers of small businesses often are the same person. Why would a small business owner benefit from a board meeting?
The individuals a small business owner trusts the most for advice usually include their CPA, attorney, a benefits consultant, insurance agent, investment broker and their banker. Small businesses need to invite these individuals to their annual board meeting and keep the meeting to 2 hours. At this meeting, as a small business owner, ask your accountant to review the financial statements and tax returns.
Present an operating budget for the new year and a capital budget for the next 3 years. Then open the floor for discussion and suggestions… read on.
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