Recruitment Business Owners Shouldn’t Be Afraid To Ask For Accounting Advice
Owners of recruitment businesses are undoubtedly individuals with great confidence and determination, who are driven to see their business thrive and grow successfully. Of course, these attributes are great to have when running a business, but at times they can also be your worst enemy.
Most recruitment business owners are previous high-earning recruiters and most likely have never had any formal education or training in finance and accountancy. Despite this, many owners are afraid to reach out for help to gain more understanding and have better control over their accounts and finances. Maybe the reason is that they are not used to asking for help as they have not previously needed it. This situation is not isolated to recruitment business owners. In a similar vein, when I became a business owner there were things I certainly needed help with. It took a lot of courage to ask the right people and I certainly made some mistakes along the way that I’ve learned from. Here at Azuki, we want them to see that asking for help with their accounts will turn them from a successful sales director to a real Business Leader.
First things first, all recruitment business owners should know that accountants will never expect them to have any professional knowledge of accountancy and finance given that they have never actually had any financial formal training. We certainly wouldn’t see you as being any less as the business owner you are so don’t be afraid to admit if you don’t understand how it all works. Reach out to a specialist recruitment accountancy expert like Azuki Accounts, and they can support you in developing your knowledge whilst also providing you with expert advice and guidance on everything from your bookkeeping to budgeting.
Secondly, there is no such thing as a ‘stupid’ question. As we said, we don’t expect them to have any financial knowledge and so, of course, we would expect them to be asking all sorts of questions. The more questions asked, no matter how silly they believe them to be, the more confident and assured they will become in their own knowledge of how to run their business finances efficiently. If the questions weren’t asked, owners could run the risk of missing out on key information around their accounts and could cost their business badly.
And finally, reaching out to a recruitment accountancy specialist will help them see their business in a different way. They will have a better understanding of the financial health of the business and therefore will have a better vision of how their business can move forward and grow both physically and financially. For example, instead of just focusing on turnover and gross profit, they will focus on having the right profit strategy in place.
As you can see, there are so many benefits to be gained by recruitment owners reaching out for guidance on their accounts. Ultimately, by working with a recruitment accountancy specialist, all of the stress, burden and confusion around finances are taken away, enabling them to concentrate on nurturing and growing their business.
Are you a recruitment business owner looking for professional guidance with your accounts? Become an Elite Leader Member and get a consulting session with Azuki Accounts as part of your membership. For more information on becoming a Member, please call Sue Evans on 0844 993 4465.