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Business plans are so vital to the success of businesses, that if an entrepreneur does not have a business plan, they will be 50% less likely to succeed or grow their business says Edmonton small business accountant. Business plans are so valuable, but not all entrepreneurs have one for their business. The reason might be because they are not aware of how important they are, or they are aware of how important they are, but they are unable to themselves, or their unable to afford getting help with it. This is a huge barrier for entrepreneurs to overcome, especially if they are new in business, or if they are struggling.
The problem with most business plans, is that they are created by accounting firms that charge an hourly rate. They create their business plans from scratch every time, and they put a phenomenal amount of work into it. This, fortunately ends up being priced out of range for most new or struggling entrepreneurs. The paradox of the situation, is that businesses that need business plans the most are actually the ones that and up being able to afford them the least.
The Edmonton small business accountant Spurrell and Associates decided to change that dynamic, and making business plans much more cost effective for entrepreneurs to get, so that finances would not be a barrier to having the tools needed to grow their business. How they did this, is by creating an efficient and effective business plan template. How they came up with this template, was making a list of the most common mistakes and challenges that entrepreneurs face in their business. Once they had a list of the most common mistakes, they created a list of the most effective solutions.
They discovered that there was only a handful of problems or mistakes that entrepreneurs run into, and there were only a handful of solutions that tend to solve most of those problems. By starting with this as the beginning of their business plan, this Edmonton small business accountant created a business plan around helping entrepreneurs avoid the mistakes that cost them their business. By building and refining this template over several years, the Associates were able to come up with an effective document that can help them create an extremely beneficial business plan much quicker than starting from scratch.
A big part of the value of a template that was created this way, is that it allows the Associates to be able to come up with common solutions easily, allowing them to use their critical thinking skills on the more difficult problems. This way, the business plans that they created still had a lot of thoughts going into it, but the plans are created much faster.
By being able to help their clients faster with this template, Edmonton small business accountant says that they were able to stop charging an hourly rate for their business plans, and simply including the service in their regular flat monthly rate, to ensure all of their clients are able to utilize business plans, and succeed.
Even though many entrepreneurs understand that business plans are extremely important, Edmonton small business accountant says not everyone has a business plan. Or, they had a business plan when they started their business, but it has several years later, and they are not actively following any plan. Whether a company is trying to grow, and make major changes in order to succeed, or if they are struggling, the next steps that they make to help themselves need to be deliberate. Avoiding disaster, or growing by 50% does not happen completely by accident, an entrepreneur needs a business plan to know what they have to do next.
Unfortunately, many business professionals are very hesitant to use templates in their business says Edmonton small business accountant. The reason for this, is because they believe that since they went to school for so many years, people are paying for their expertise, and that expertise cannot be templated. Or, they often believe that their work is too complex to be templated or check listed. However, not only are the most complex jobs in the world able to be check listed and templated, but when those complex jobs do get a checklist in place, it can significantly improve their ability to do that job.
For example, emergency room doctors started using a checklist in their work, and discovered that they started saving more lives. Pilots have a checklist on what they do before they take off in a plane, and before they land. In the case of an emergency, they also follow a checklist to ensure they are able to get the plane safely on the ground with as little damage as possible. If doctors and pilots can use templates and checklists, Edmonton small business accountant says professionals and entrepreneurs can as well.
In fact, Edmonton small business accountant argues that template does not replace an accountant, it just allows them to perform at a higher level. How that works, is by automating a lot of the thought process, and allows the accountant to spend more time on the complex problems, without having exhausted their thinking on simple problems. Therefore, even the person who created that template can significantly benefit and improve their performance by using that checklist or template. By ensuring that they and their associates do not have to commit many things to memory, or ask them to instantly recall those variables on a moments notice, and allows accountants to think more critically about the unique circumstances, and come up with a effective business plan.
If entrepreneurs are struggling in their business, or if they are planning a growth here, they should see the professionals at Spurrell and Associates, and find out how they can benefit from no charge business plan as well. By using an accountant whose dedication is in helping entrepreneurs succeed, entrepreneurs can end up with the documents that they need in order to operate their business, avoid problems and grow.
