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Most entrepreneurs understand that business plans are very important says Edmonton small business accountant. But what they might not know is exactly how important they are. Businesses that actually have a business plan are 50% more likely to succeed in their business then entrepreneurs that do not have a business plan at all. However, business owners should also be aware that entrepreneurs are facing a 50% failure rate as well. Therefore, entrepreneurs that have a business plan are not only 50% more likely to succeed, but they are more likely to avoid the 50% failure rate that entrepreneurs in Canada face.
The most common reasons why entrepreneurs fail in Canada is that they are unable to find the right market for their product, they are unable to find the right team, and they ran out of money. Business owners should understand how important it is to have a business plan, not just to succeed but also to avoid failure. However they may struggle with understanding where they can go to find help getting a business plan made.
Edmonton small business accountant says entrepreneurs that cannot find help may resort to doing the business plan themselves. However, if they do not know what they need to do to create a business plan, they will either end up with a poor or they might not end up with a poor plan because they get discouraged trying to create one. Or, they understand that they can get professional help, but when they ask for a price, they are quoted in hourly fee, without having any idea how many hours is going to take to create. If a business owner is new, or if they are struggling, not only are they most in need of the business plan, they are also least likely to be able to pay that price of 1, especially if they are already struggling financially.
However, one Edmonton small business accountant Spurrell and Associates have decided to tackle this problem to ensure everyone of their clients that needed to get a business plan could get one. They were frustrated at watching clients make the same mistakes over and over, and failing in business when they had the power to help them avoid it. Therefore, they came up with an business plan template that can help ensure that they save enough time, creating an effective business plan that they do not have to charge a typical hourly fee.
Therefore, entrepreneurs that need help in their business, either through understanding what they need to do to grow their business, or what they need to avoid doing to stay away from failure, if they get help from Spurrell and Associates, they will be able to get the business plans that they need, without worrying that they will be able to afford it. By understanding how important business plans are, and then getting the right help early on in their business can ensure that entrepreneurs are doing what they need to do to build strong and successful businesses.
1 of the reasons why entrepreneurs do not get business plans created for their business says Edmonton small business accountant is because they cannot afford them. Or, they get the business plan made once, and then they do not go back to get it updated on a regular basis. When accounting firms charge an hourly rate, they often price business plan services out of reach of many businesses. Especially if entrepreneurs are struggling, they need business plans the most, however they are also the least likely to be able to pay for it.
Spurrell and Associates created a business plan template to help offer this service to their clients at no additional cost. However, many other accounting firms choose not to create a business plan template, because they either believe that they need to work themselves, because they have gone to school for so long and they are an expert in it. Or they feel that the task is far too complex, and can never be represented in an effective business plan.
Edmonton small business accountant would argue against that a business plan is too complex to be templated. The reason why, is because doctors an emergency room started using checklists and templates and found that even how complex their job was, the result is that they started saving more lives than ever before. Therefore, if lives can be saved using a checklist template, a business plan can be represented in a template as well.
Edmonton small business accountant Spurrell and Associates started making their business templates simply by making a list of all of the most common mistakes and obstacles that entrepreneurs face. Then, they started making a list of the most common business initiatives and strategies that could affect those problems and obstacles. What this dead, was create a document that could help accountants create a plan to steer their clients around problems, so that they can grow their business. This allows the accountants to be able to not have to start from scratch with every client, and get easy answers to common problems. This also freed up their critical thinking skills to spend more time on the more challenging aspects of the business plan that could not be solved with a template.
Business owners should also take into consideration that just because an accounting firm uses a template, that does not mean they are going to end up with cookie-cutter business plan. Great templates not only ensure that their accountant is performing at a higher level, but it also offers complete customized nation. This way, entrepreneurs can be certain that their getting the business plan that addresses their unique business, there individual set of circumstances, can help their specific business grow. Business templates do not mean that it is a cookie-cutter solution. By using this template with this Edmonton small business accountant, entrepreneurs will be able to learn what they need to do a regular basis to avoid problems and to grow their business and become successful.
