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1 of the reasons why an Edmonton small business accountant decided to create a business plan template for their business was to help entrepreneurs. They discovered that if they were starting business plans from scratch with every single client they had, it ended up taking them an extremely long amount of time, and if they charged hourly, this ended up being a barrier to entrepreneurs adding the plans they so desperately needed for their business. Therefore, it took them years to create the best business plan template, that they can now use to significantly improve their ability to create business plans for entrepreneurs.
Many accounting firms are opposed to using business plan templates in their business. The reason why, is because they believe that they have gone to school for so long, that there is too much knowledge that they have that cannot be templated. However, Edmonton small business accountant says that nearly anything can be templated and a checklist made. In fact, emergency room doctors started saving more people’s lives when they started using templates and checklists in the emergency room. In addition to that, pilots use checklists every time they take off and land in a plane. In addition to that, even if they are facing an emergency, pilots follow a checklist to help ensure that they are doing all the right things to help them do all things they need to do for the most beneficial outcome and save lives. There is virtually no task that is too complicated for a template and a checklist. If emergency room doctors and pilots can use them, accountants, professionals and entrepreneurs can use them as well says Edmonton small business accountant.
By creating an efficient template for business plans, Edmonton small business accountant was ensuring that all of the most common business problems and mistakes were being listed, alongside a list of the most effective solutions. By doing this, the insured that they were not forcing themselves to have to memorize every single variable and scenario, or have to instantly recall any of the solutions. This meant that accountants could create an effective business plans quickly, and then use the additional time that they had left to think about all of the most difficult problems that could not be helped by a systematic approach. This way, clients ended up with an extremely effective business plan, much quicker then typical accountants could create.
Because of how quickly they would be able to create a business plan for their clients, this Edmonton small business accountant is able to stop charging hourly for their services, and include business planning as part of their regular duties with their clients. By charging a monthly flat fee, they were ensuring that every client they had is given the ability to have an effective business plan to help them succeed in business. By removing the barrier of cost from this businesses that were struggling, they insured that all companies that could be benefited from business plans got them.
According to industry Canada, there is a high failure rate of entrepreneurs in Canada says Edmonton small business accountant. 15% of all Canadian businesses fail within the first year of business, 30% fail by year 2, and by year 5, only half the entrepreneurs that open businesses are still operating them. There are 3 most common reasons why businesses fail, they are unable to find a market for their product, they run out of money, and they are unable to find the right team for their business. All of these things can be addressed and avoided with an effective business plan.
When most entrepreneurs approach their accountant to create a business plan, they do not know how much money going to cost them. The reason why, is because most accountants charge an hourly fee for their business plans. Without knowing how many hours they have to put into it until they start working on it, accountants are not able to give their clients idea of how much money it is going to cost them. This ends up being a barrier for the businesses that are struggling and who need the most.
Because of this, this Edmonton small business accountant, Spurrell and Associates decided to stop charging an hourly rate for their business plans. Therefore, they can ensure that their clients had all of the tools that they needed in order to succeed. A great business plan will address all of the common reasons why entrepreneurs fail. At this Edmonton small business accountant, he created a template that had a list of all of the most common mistakes that businesses make, as well as all of the most common reasons why businesses fail. By listing these problems, and then creating a list of all of the best initiatives that can help entrepreneurs avoid those problems, and grow their business, their accountants are able to make business plans quickly.
It is there firm belief at this Edmonton small business accountant that templates do not to replace the work of an accountant, it simply makes them able to perform at a much higher level. This means that they do not have to commit any scenarios to memory, and they also do not have to expect their accountants to instantly recall solutions at a moments notice. Therefore, by solving the easiest problems this way, it gives the accountants more brainpower to think of the more difficult problems that cannot be solved using templates or checklists.
It is important to note that templates can be completely customized for every business, so that regardless of what business an entrepreneur runs, the business plan they end up with takes into consideration their unique business and circumstances. This Edmonton small business accountant says that by ensuring everyone of their clients can get an effective business plan, there ensuring that clients can be much more successful than they ever could have been without those plans.
