Freedom from Paperwork?
Do you find that administration and paperwork (bookkeeping etc) are seriously affecting, for the worse, your ability to develop and grow your business?
In answering this question we should look to Adam Smith, the famous economist and philosopher. He made a point that we have often forgotten. In his famous book the Wealth of Nations, he wrote about the way in which industrial societies become wealthy. If you are interested, his book can be found at http://goo.gl/ONu5pZ for free.
He attributed the tremendous increase in wealth, health and the quality of life, over the last two centuries, to what he called “the division of labour”. In practice, what he meant was that if each person or business specialises in something they are especially good at they will become better at it and wealthier than someone who attempts t o do everything themselves.
An hour spent on something you are good at is infinitely more valuable to you than and hour spent on something you hate. NOT ONLY DO YOU EARN AT YOUR HIGHEST RATE, YOU AVOID LOSING THE DIFFERENCE BETWEEN A COST YOU SAVE IN DOING SOME NON-ESSENTIAL ACTIVITY AND THE FULL VALUE OF YOUR SERVICE OR PRODUCT.
EXAMPLE: Business revenue £100 per hour, bookkeeping £25 per hour,
difference = £75 per hour
Do you want to save £25 per hour or make £75 per hour?
I would therefore like to suggest that bookkeeping for many people is a chore they often loath and frequently do badly. This is because they do not understand the principles of accounting and they carry out the task in an inconsistent manner.
I recommend you give this task to an expert who can ensure your work is carried out accurately and consistently and in a manner that will give you great information on how your business is doing and in how you can make improvements in its profits.
You can also outsource your invoicing and credit control with a surefire improvement in your cash flow.
Bookkeeping is what we do and have done for several years. Talk to us. Do not spend your spare time embroiled in the paperwork, when you could spend it improving your business.