As a small business owner, using correct financial data is vital to your growth. All good decisions should be measured by analyzing the financial pieces of the puzzle along with projections of future revenue.
Have you come to one of these two circumstances below?
1. You work hard on your business and it is starting to prosper, but you realize you are spending too much time in administration areas. You want to use leverage to buy back your time so you can work on high level projects.
2. You realize you are really good at what you do, love doing it, but it seems that running a business is a combination of lots of jobs, and you don’t fully understand the financial aspects, or like that part of doing business.
It’s time to hire a bookkeeper!
Here are the ten most important areas in picking the correct bookkeeper. This is not just someone who will ‘do the books”. It is also someone you can trust with your full financial history and who you must create a working relationship with. A good bookkeeper can save you much more than you spend on their services.
1. A bookkeeper should have a minimum of a two year degree in Management, Finance, Accounting or Business Administration. Their choice to get this degree tells you they are serious about their future and they know education is key to personal growth. Further certifications show they have made a decision to offer their clients the very best opportunity for success.
2. A bookkeeper with well rounded experience is a must. You are not looking for just a ‘payroll clerk’ or ‘accounts payable’ activity. Background in various corporate finance departments and private business helps refine their decision making process and gives them an edge you will find helpful later.
3. What computer skills do they have? Are they current and skillful in the areas necessary to offer a full range of services areas like Excel sheets, or a financial Power Point slide? What level of technology does their office use? Are they certified in the financial software used? Do they back up client files to an off-site service? Does their office keep abreast of the latest details in their chosen field and the current business tools available?
4. Being detail oriented, and organized is a must. If they show up at the first consultation with color coordinated folder, business cards, letterhead, etc. you know you have hit the jackpot! Great bookkeepers love the challenge of taking a mess and cleaning up all the pieces to make a perfect financial file.
5. Communication skills must be at their highest level. Can they speak well, and formulate precise answers on the fly? Would they be a good representative of your business to a client? Will they be able to articulate financial information clearly? Do they listen attentively?
6. Testimonials and referrals are very important. Ask to see both. Can they supply you with a list of current clients they work with in a similar capacity?
7. What professional associations are they a member of? Do they have listed profiles that you can read on the association website? What do their peers say about them? What is in their social networking profiles?
8. Will they have the type of availability you feel is necessary to do the job completely? How is their work week structured? What would happen if you need to reach them on a weekend to answer a question?
9. Do they appear professional and polished? Do they dress appropriately? Does their outreach areas such as website or blog look well thought out and distinct? Will you be proud to say they are your outsourced partner?
10. Finally, confidentiality is extremely important. Soon you must divulge the most secret details of your business. This person will know everything there is to know! This is difficult at first, but in the long run, can you work with them on that level? Do they understand the importance of this area by bringing this subject up at least once in their first consultation?
By: Terry Santore