08/03/2021
Some of the more interesting (and eye opening) conversations I have with business owners do not revolve around what they should be doing but rather what they SHOULD NOT be doing.
Let me explain! Entrepreneurs are generally not experts at all aspects of their business. Likewise, their time is often better utilized doing things that will maximize their profitability rather than taking on more to keep the costs down. For example, if you can work at your trade and bill out $100 an hour, is it a good business decision to do 20 hours of bookkeeping work to save yourself $500 (the answer is maybe!)?. Sure you are saving yourself an immediate $500 but the tradeoff is you are effectively paying yourself $25 an hour doing bookkeeping work when you could be generating $100 an hour doing what you are good at and passionate about doing.
See, you are not expected to be an expert at everything but you can (and should!) build relationships with professionals in your community that can help you maximize your profitability by working with you and guiding you in the right direction. If this is you and your business, I would value the opportunity to meet with you to discuss your goals and needs and how I can be part of your team and solution.
Joe Godshall
Owner
GODSHALL Accounting Solutions
605-310-2760
[email protected]