Let’s Have 2 Important Conversations

Whether it?s selling fishing lures, designing websites, or teaching piano lessons,
you likely consider yourself an expert in the field of your small business.
However, unless you are an accountant already, many of the financial aspects of
your business could use some guidance. While 80 percent of small business
owners file their returns with an accountant, you?ll be glad to know there are
many other ways your accountant can boost your business, even when it?s not
April 15. Two must-have conversations with your accountant are cash flow and
financing.

Cash Flow –
Cash flow is the lifeblood of any company, yet many business owners don?t
understand it?s importance, how to monitor it, or how to increase it. Your
accountant can help detect problems with tracking your cash flow, trim your
budget, and reduce your overhead—all of which can increase your cash flow. In
addition, your accountant can review your payment collection policies and
suggest ways to expedite that process, so that you can process payments with
greater ease. Most importantly, you can talk to your accountant about pricing, as
you might be undercharging clients on certain services and compromising your
margins.

Financing –
So often business owners want to make a major purchase or expand their
facilities, yet aren?t savvy enough to raise capital or devise proper financing. Talk
to your accountant about equity financing, debt financing, and potential lenders.
Your accountant will then help you package your materials for your loan
application, compiling all the necessary numbers, statements, and materials.
Chances are you have too much to do already. Talk to your accountant and let
him do what he does best, so that you can do what you do best.

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