Does Accounting Really Matter for Entrepreneurs?

Posted by | August 18, 2015 | Uncategorized | No Comments

As an entrepreneur, your primary concern is usually related to growth and serving your customers.

That’s why you do what you do, to work with people and build something that matters.

For us in the back-office as part of your team, our goal in life is to see entrepreneurs do more of what they do best. But if your focus is completely on growth and working with clients, it begs the question, why does accounting even matter?

There are a lot of layers to that question and at the most basic level, accounting allows you to see the numbers that keep the business alive. Without cash, there is no business, and without accounting you can easily lose track of cash – not to mention funding growth opportunities.

Still, it’s often at the back of the mind for entrepreneurs. That’s why we loved this post from our friends at Hubdoc, where they share Eight Ways Accounting Makes you a Better Entrepreneur.

Check out the post here to read it in full.

Just to highlight some of the key points here, these really stood out:

You can make financial decisions with confidence.

As a leader, you never want to be guessing. You want to be decisive and confident. Numbers can provide that confidence.

Tax Season with Less Stress

Do you ever feel out of place and worried at the end of year when you interact with your CPA? That’s not a great feeling, and it’s not a feeling you should have as an entrepreneur.

You should feel in control and when you have strong financials, you will feel at ease and in control interacting with banks, CPA’s and other advisers.

These are just a few of the many great points shared in the Hubdoc post. What do you think? What stands out to you as an entrepreneur?

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