Did you set up your own business? In the early days, did you torture yourself with those heady 25-hour days? And those sleepless nights too? Was it the excitement or the fear that kept you awake? Either way, that rollercoaster they call ‘starting your own business’ is almost certainly a part of your life that you’ll never forget.
Unless you started out with a healthy lump of cash, you almost certainly launched your business carrying out every task yourself. Working from home, you designed your logo, your website, your business cards and your leaflets. You made your own sales calls and (you know what’s coming next!) did your own books.
What about when the business started to take off
There’s nothing wrong with the DIY approach – at first. It’s normal and healthy. From day one, you’re keeping a close eye on those all-important overheads. But it can’t go on forever. How long do you plough on relentlessly in this driven mode, allowing yourself zero downtime? Before long, given your amazing skills and a little bit of luck, you’ll start to get busy. And here’s the point. When do you think about outsourcing? When do you say to yourself, ‘now’s the time to bring in one or to experts, so that I can focus on what I love doing most – growing my amazing business’?
The problem that many start-ups find is that they get a fixation about doing everything for themselves. They con themselves that the reason they’re enjoying early successes is that they’re doing everything without outside help. Of course, the truth is that no-one can carry on for long in this way. The time comes when for the sake of your business and your own sanity and health, you simply have to start outsourcing.
Otherwise, the business will stagnate, even go backwards, while you drive yourself to an early grave.
Calling in the experts
Certainly, an excellent place to start with your outsourcing is with a well-designed website and logo, along with business cards. But coming a close second has to be finding yourself a bookkeeper. Do you really think you can handle your invoicing and expenses by yourself, before handing it all over to your accountant at the year end? Are you absolutely sure? Think again.
With bookkeeping, you have no choice. If your business is to run efficiently and legally, accurately keeping your books is one of those vital tasks that simply has to be carried out.
Be honest. Do you really know all there is to know about financial compliance – all the rules and regulations? Your bookkeeper will make sure you stay compliant and will invariably find ways to help you and your business save money. In many cases, those savings will more than pay for the costs of your bookkeeper.
Why shouldn’t I employ my own in-house bookkeeper?
Don’t be tempted. Take that step and you’ll find yourself responsible for running the payroll, training costs, not to mention holiday pay, pension arrangements and potential maternity pay.
What if your business suffers a slow spell? You’ll still have to fund your employee’s pay at the end of the month. With an external bookkeeper signed up, you only pay for the services you need.
Also, think what happens if your in-house bookkeeper goes off sick? In their absence, who will carry out those important regular tasks? Even worse, if your bookkeeper leaves, imagine the inconvenience and recruitment and training costs.
With your external, outsourced bookkeeper, it will be their responsibility, not yours, to hire and train their staff. This will mean considerable short and long-term savings for your business.
Save money – save time
Here’s a key point to remember that many business owners fail to consider. What’s your hourly rate? There’s every chance that it’s more than that of an outsourced bookkeeping service.
Look at our bookkeeping services https://www.zincbooks.co.uk/our-services/bookkeeping/ and talk to us about how to –
– save money, lots of it
– spend more of your valuable time doing what you’re best at doing and doing what you love doing – developing and growing your business
– work sensible hours, making you better at your job and better at enjoying life outside work, with family and friends …. and what can be better than that?
Find out more about how to bring a sense of calm and order to your business and to your life. Contact your local friendly, efficient and affordable bookkeeper. Get in touch today.
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