Getting to know your CPA is a big deal! If you don’t have a good relationship with your Columbia Missouri CPAs then you won’t know where you stand when you need them most!

You can take the time to get to know your CPA and build a strong relationship with him or her. That way, you can get the attention you need when you need it and you can enjoy the benefits of having a professional advisor by your side.

Here is a list of everything you should know about your CPA, from top to bottom.

What is a CPA?

A CPA is a Certified Professional Accountant. In simple terms,  a CPA is a person who has been carefully trained on how to read and understand business laws and regulations. There are two parts to this title: one, being a Certified Professional Accountant; and two, being a person who has been qualified by the Accountant Test Council to offer advice on matters involving business laws and regulations.

When we talk about a CPA, we mean someone who is qualified to do at least five of the following tasks:

Audit

Analyze

Visit

Calculate

Compute

Demand

Review and comment on the Ledger

Verify

threatening letter writing

pole-vaulting

grapple-hooking

Sure, some CPA firms have people who handle one or two of these tasks, but the vast Columbia Missouri CPAs majority of CPA firms have teams that cover all five.

Why Do You Need A CPA?

At some point, most people who start a business need to raise money. This is simply because without bank loans, many businesses simply won’t be able to continue.

One of the biggest mistakes people make is not including a proven track record of success in their business plans. Every piece of business plan writing advice we send out includes a section on “What is a CPA?” If you’ve ever started a business, then you need to include a Columbia Missouri CPAs in your plan because without one, you just won’t be able to raise money.

Put it all together, and it’s clear that without a CPA, you just won’t be able to go the distance.

So, what happens when you don’t have a CPA? What options are there?

Would You Like Our Columbia Missouri CPAs To Start Working?

 

The Importance of a Columbia Missouri CPAs

As you probably know, investors love nothing more than a sure thing. The sure thing for your business is your product or service. When you can offer them something that is proven to work, they will invest.

The problem with most people who start businesses is that they try to run their businesses like they do every other business— by relying on their own skills and knowledge. This is understandable, but it just won’t work.

without raising money. In fact, without a Columbia Missouri CPAs, you’re probably not going to be able to get much further than a neighborhood business with lots of customers. Our company is going to be taking it over to go to the services were going to be able to show you wouldn’t know where to go to the services.

When you start a business, your main goal is to make money. Well, unless you’re a true entrepreneur who starts your business without any money, then your goal is to make money enough to continue your business.

Any way you look at it, without money you won’t be able to execute your business plan. You’ll be forced to shut down your business, and that’s always a risk. Even if you manage to gather up the necessary Columbia Missouri CPAs funds, t he fact that you don’t have a CPA will be a significant hurdle.

Sure, we all want to be entrepreneurs when we start our businesses. But until we can prove that we can make money, we must first prove that we can survive without one.

The term “basic business skills” is somewhat of a contradiction in terms. Most people who work for themselves are able to raise money. However, to be a successful entrepreneur, you need to have not just the “basic business skills,” but also the specific skills needed to grow a business.

You need to be able to identify customer needs and develop a product or service that will enable you to serve them. Only then will you be able to raise the necessary funds.

Unfortunately, as entrepreneurs we’re often forced to find ways to save money rather than spend it. This is understandable, but it must be done in a diligent manner. In fact, it’s more of a necessity when you’re starting a business.

You don’t want to waste money on fancy offices, expensive equipment and over-the-top marketing when you can easily avoid it. Nor do you want to waste time with accounts payable,  receivable or right-time charges.

As a small business owner, you need to be smart about how you spend your money. You don’t want to waste it on things that will be redundant when you start making money.

So, here are a few basic business skills that you need to make money and survive.

The fact is, you don’t need to be a genius to start a business. You just need to be compassionate, have good business skills and be willing to work hard. Unfortunately, most people aren’t able to start a business because they don’t meet the first two requirements.

That’s why I believe so many people are able to start their businesses – they have pets. Entrepreneurs are pet owners too, and that means they have the necessary survival skills needed to start a business:

hunt for information that will help them make decisions

seek out opportunities to save money

minimum necessary research

collection of necessary data

analysis of the data

creation of reports

options for the future

control group performance

collections and referrals

weigh the options and decide what’s best for you

You also need to determine if you are going to be an inside or outside entrepreneur.

Being an outside entrepreneur allows you to

Visit us online at https://hoodcpas.com or give us a call at (918)- 336-7600!