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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Small Business Accountant | Creating Business Plans For Entrepreneurs

Many business owners often understand that business plans are a good idea says Edmonton small business accountant. Unfortunately, they either are not aware that getting a business plan is something that they can get professional help with. They may know that they can get professional help, but do not know where they can get that help from. And finally, they may know where they can get the help from, but the fear of the costs is what keeps them from getting a business plan. However, as Benjamin Franklin 1 of the founding fathers was famous for saying, if you fail to plan, you are planning to fail. Helping entrepreneurs get the business plans they need to grow their business is vitally important.

There are 3 types of scenarios that businesses generally benefit from getting plans created. The first scenario is if an entrepreneur is planning on making major changes in their business. Major changes can include growing their business substantially by 20 – 50%. Another scenario is if business requires financing in order to fund their next stage of growth, or asset purchase they often are required to have a business plan for their financial institution. And finally, businesses that are struggling can often get the most benefit from business plans, because they need to know not only what to do to avoid taking the mistakes that can cause them to go out of business, but also so that they know what to do in order to become successful as well.

In order for businesses to get the help that they need, they have to either be willing to pay the hourly rates that most accounting firms charge for their business plans. This is not a problem for some businesses, but the businesses who need it most and who are struggling are typically unable to pay an hourly fee. 1 of the most common reasons why struggling businesses are not able to pay the hourly fee, is because they have no idea how much it is going to cost them at the start of the process. Edmonton small business accountant says this means that it could be a couple hundred dollars, or a couple thousand, and struggling businesses are hesitant to spend an undetermined amount of money because they typically do not have enough money to pay the bills they have at that moment.

Because of this, the Edmonton small business accountant, Spurrell and Associates decided to stop charging an hourly rate for their business plans, and include business plans as part of their regular services, and include it in their flat monthly fee to all of their clients. This way, all the clients that they have would end up getting a business plan, and have the tools they need to succeed in business whether they could afford to pay the extra fee or not. This way, they were ensuring that they could help all of their clients succeed in business, instead of standing by seeing the make mistakes that were avoidable.

Edmonton Small Business Accountant | Creating Business Plans For Entrepreneurs

Even though most entrepreneurs can benefit from a business plan, Edmonton small business accountant says few businesses that need a plan actually end up getting them due to the costs associated with it. Many accounting firms that do business plans for their clients charge an hourly fee, because they are building the business plan for each client from scratch every single time. This ends up with many hours being put towards creating business plans for their clients, and a large bill. This is completely avoidable if accounting firms use business plan templates.

Many accounting firms do not use business plan templates, because they believe that they are either smarter than a template, or that they have gone to school for so many years, that their clients can only be helped by them, and not a template. However, Edmonton small business accountant argues that a templates does not replace a business professional, it only makes them smarter. For example, if emergency room doctors can end up saving lives through the use of templates and checklists, then business professionals can be helped by checklists and templates as well.

1 of the ways that using a business plan template can significantly help, is by listing all of the various problems that is business owners face, and then having a list of all of the most common solutions. This way, it requires no accountant to have to commit all of these variables and scenarios to memory. It also ensures that they do not have to instantly recall all of those variables as well. This way, their accountants can come up with solutions to simple problems, freeing up with their thought processes for the more difficult problems that a business is facing that requires problem-solving.

By using a business plan template, and can make the planning process much easier, by allowing the professionals to come up with the solutions easily, and then spend additional time problem-solving more difficult things. All these things culminate into being able to create a business plan much quicker than most, reducing the cost required to get that business plan completed. By doing this, Edmonton small business accountant can help significantly more businesses succeed, and ensure that they do not have to break the bank in order to get the help that they need.

When entrepreneurs have made the decision to get a business plan either to help them avoid disaster, or help them grow their business they should seek out and Edmonton small business accountant that uses business plan templates. This way, they will be able to get the help that they need in their business, without waiting a long time for the business plan to be created, and without having to pay a massive bill at the end of the day. By doing this, they can be assured that they are getting the help they need in order to grow their business and become successful.