As a business owner are you sometimes guilty of not showing the finance function of your business the attention it deserves?
We have a great analogy on this!…
Most people treat accountants like they do their car tyres.
It is bewildering when people scrimp on tyres for their car.
Let us tell you why…
They buy a nice vehicle, which can go fast, that they put themselves and their loved ones in, and the only thing that keeps that vehicle safely on the road is a thin bit of rubber.
They wait until their tyres are absolutely worn down and no longer legally compliant before they buy new ones and when they do, often look for the cheapest.
Good tyres enable you to drive safely and efficiently. So why not get the best you possibly can?
And the way many vehicle owners think about their tyres, is very much how a lot of business owners think about the finance function of their business, which determines what they want to spend on their accountant and advisors.
Business owners often look to keep the cost of their finance function as low as possible and in many cases aim to be just on the right side of compliance.
When in reality, the finance function of your business is the only thing keeping it safely on track. And should be an investment for the future proofing of your business.
If you invest in this key function properly, you can have something that keeps your business far safer and will enable you to grow faster, further and navigate the inevitable obstacles with greater expectation and agility.
James Ashford, the founder of successful business ‘Go Proposal’ had a previous business called ‘Rocket Powered’ which failed after underinvesting in his finance function. You can read about his story here.
Never scrimp on tyres OR your finance function. It’s too risky.
If you know you have been neglecting your businesses finance function, and would like an experienced and passionate team to give your accounting the attention it deserves: Get in touch with Robson Laidler’s Accounting team.