Before you took the great leap of faith to own your own business, maybe you worked for a big company.
And maybe it wasn’t your “calling” to work for someone else – you might even have hated it! But no matter how you feel about being an employee, one thing you have to appreciate about a big company is the collective brain power of the executive team.
Without a doubt, executives are often the primary subject of jokes told in the employee break room. And, equally true, there are highly-paid executives out there who seem to be richly deserving of the ridicule they suffer.
But the leader of even a medium-sized firm has thought partners – people right there on the executive team who have the experience and training to enable them to give smart advice to help drive key business decisions.
These advisors don’t always get it right… but they’re in their positions because, over the course of a career in business, they’ve hit more than they’ve missed.
Not sure which IT system the firm should invest in? The CEO (“Chief Executive Officer”) can often get great direction from his or her CIO (“Chief Information Officer”).
Debating a change in the company’s product or service offerings? Give the CMO (“Chief Marketing Officer”) a call.
And, of course, almost any company with more than a couple of handfuls of employees has a CFO (“Chief Financial Officer”) to help advise the CEO on such matters as investment and taxation.
That’s a luxury the small business owner doesn’t have.
Unless they have a strong, trust-based relationship with their business accounting firm.
A great CPA firm that specializes in helping small businesses is an invaluable asset to the owner of a small enterprise (or to the solo entrepreneur).
Maybe the “little guy” doesn’t have a highly-paid CFO to turn to for accounting-related advice… but a good relationship with a great CPA can fill that role quite nicely.
And, often, quite affordably.