As a startup it’s easy to get so caught up in the excitement, the product, the service and the marketing that you forget to focus on some of the fundamentals of beginning a business. Getting these foundations right though from the start, will serve you well as you progress on your business journey and down the track you’ll thank yourself for it.
If you’ve come back from the Christmas break feeling motivated and ready to hit to 2016 hard here are a few suggestions to help you ensure 2016 is indeed a prosperous one.
One of the most common questions I’m asked is when should I move from Excel to accounting software? My answer is quite simple – when you can’t quickly and easily manage the day-to-day business using Excel then it’s time to move. Trust me, if you’re there, you’ll know it.
Most people start a business because they are good at something – be it plumbing, photography or designing – and not because they’re good at paperwork. So when exactly does it become worth hiring a bookkeeper? This is different for everyone and every business. The answer is not how much you turnover, but rather it’s about your situation, your level of financial expertise and the complexity of the business.