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It is extremely important that all businesses get a business plan made according to Edmonton small business accountant. Not only can business plans help entrepreneurs avoid making the errors that can cause them to go out of business, since 50% of all businesses in Canada will fail within 5 years. But also, so that entrepreneurs can use that information to grow their business and become successful as well as. However, it is not feasible for all entrepreneurs to pay for business plans on a regular basis, because it is often cost prohibitive. Fortunately, one Edmonton small business accountant is changing that, by offering business plans as part of the regular services, and at no additional cost.
How this accounting firm can afford to not charge their clients any additional fees for their business plans is because they have created a business plan template. They were able to create this template over several years of work, refining the template to ensure that it was covering all of the most important information for entrepreneurs. This template ensures that they can create these business plans consistently, and at a high value without starting the process from scratch every single time.
1 of the reasons why other accounting firms do not use business templates, is because they believe that the information is too complex to be templated, and that they have gone to school for several years, and people are paying for their expertise, and not the work of the template. However, Edmonton small business accountant says that templates do not take the place of an accountant, but allows an accountant to perform at a much higher level. By systematizing all of the most common problems and mistakes, along with a list of the most effective solutions, the accountant frees up their thought process to work on more complex scenarios that cannot be templated.
Ultimately, professional should understand that templates and checklists are extremely helpful, no matter how complex the work is. Whether it is saving lives in the emergency room, or successfully landing planes, doctors and pilots use checklists on a daily basis to do their job, and these are some of the most complex professions in the world. If they can be helped by using checklists and templates and their career, the same can be said for professionals and entrepreneurs.
What creating a template does, is it allows accountant to be able to work much more efficiently and effectively, ensuring that they can complete the business plan in a reasonable timeline, which allows them to be able to include plans at no additional cost. By ensuring that they can offer all of their clients business plans, they are ensuring that they are giving all of their clients the tools that they need to not only avoid errors, but succeed and grow their business. Not only are business plans effective for helping entrepreneurs avoid disaster, but business owners who complete business plans are also 50% more likely to grow their business as well.
There are several reasons why entrepreneurs need business plans says Edmonton small business accountant. Whether they are businesses that are going through major changes, businesses that need financing, or businesses that are struggling, they all get benefits from a business plan. However, not all businesses get them done, and they suffer as a result.
If an entrepreneur is making major changes to their business, maybe they are purchasing another company, or are planning radical growth, up to 50%. That kind of growth does not happen in the business accidentally. That kind of growth takes planning, and knowing exactly what to do and when. Therefore, if an entrepreneur has set their sights on some major growth in their business, they should go talk to their Edmonton small business accountant in order to get the help that they need to grow their business.
Another reason why entrepreneurs would need a business plan, is if they are going to a bank or financial institution to obtain financing. More often than not, banks need to see a business plan before they will approve that business for financing. Therefore, anyone who needs financing whether it is to purchase assets in their business, if they are purchasing building, or if there financing some leaseholder improvements and growth in their business. It is sometimes impossible for businesses to grow to the next level if they do not have financing, is where it is important that there able to get business plans created.
And finally, businesses that are struggling are often in the highest need of the business plan. A great business plan can help entrepreneurs avoid making the mistakes that could negatively impact their business. But also, a great business plan can help struggling businesses know what to do to become a more successful. Unfortunately, many struggling businesses are unable to pay for getting a business plan made at a typical accounting firm. If they are struggling, they often are unable to pay all of their bills, and intuitively want to avoid incurring any more costs. Since most entrepreneurs cannot find out the final price of their business plan ahead of time, if they are struggling, they often avoid getting this service because they are not sure if it is going to cost them a few hundred dollars, or if it is going to cost them several thousand.
At Spurrell and Associates, they decided to offer their business plans for no additional cost, so that they could ensure that the businesses who needed it the most would be able to get it without cost being a barrier. This way, they did not have to sit by and watch clients that they had developed a relationship with make all of the mistakes that were completely avoidable. This way, they were ensuring the success of their own clients, and insured that they would be able to continue helping them well into the future.
