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Why A Bookkeeper Won’t Solve Your Money Problems
Having a bookkeeper to help you with your business finances, is amazing. They can help you to stay organized, to record and manage your financial transactions and take away the stress of those worries.
But I had to talk about this subject because it is something that I constantly heard growing up and from other entrepreneurs regularly, “my problems would be solved if I just had a bookkeeper!” And I want to share my thoughts to help you have more wisdom when it comes to this thought and mindset.
Bookkeepers take care of the recording of financial transactions, managing the cash flow coming in and out, taking care of the invoices, purchase orders, helping to set money aside for taxes, etc. All of which, are hugely beneficial and help you to focus on your most important tasks.
What a Bookkeeper Doesn’t Do
So yes they are handling a lot of the financial information, but you as the business owner, are the one who is calling the shots. You are the one who is deciding what expenses to add on, what paid systems to use to run your business and what you are not spending money on. The financial decisions of how you are choosing to run your business, are likely being made by you.
The reason that I say that a bookkeeper won’t solve your money problems, is because as the CEO or head of your business, you are calling the big shots, which most of them have a financial aspect to them.
It is not just what you are spending money on that affects your financial situation and how your business functions, but also what you are not spending your money on.
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Your Personal Knowledge of Money and Finances is of Utmost Importance to Your Financial Success
The less you understand about managing finances, about smart business expenses, the harder it is going to be to financially succeed as a business owner.
Your bookkeeper will be organizing the transactions and managing them, but if you are the one who is in charge, it should be at the top of your priority to learn about managing finances and understanding money.
The clearer the picture is of your finances and where you are trying to go with your business, the easier it will be to decide from an emotionally unbiased standpoint, what expenses are needed and how you manage your money.
When you understand finances better, you can also be more effective when communicating with and meeting with your bookkeeper to discuss what it is that they are seeing and what advice that they are willing to offer you. Which is a win-win to both of you when you are able to understand each other and you are on the same page.
Click here to download my Realistic Budget template!
Having a Proper Financial Support Team is the Secret Sauce to Your Business’s Financial Success
Having a team of people who can help you with your finances who are geniuses in that line of your financial situation, that is where you will see the greatest success. A bookkeeper is a great person to have on your team along with an accountant and if you need help improving your financial awareness and education, a financial coach is also very beneficial. A financial coach is different from a financial advisor, if you want to learn more about what a financial coach does, you can read that blog post here that I have written.
If you want help with increasing your financial knowledge so you can make better decisions when it comes to your finances, check out my Financial Services that I offer. I work one on one to help individuals and couples manage their specific financial situation and to improve their lives by walking them through HOW to change their financial situation, step by step.
Click here to download my Realistic Budget template!
Frequently Asked Questions about Financial Coaching
I am very active on Instagram, follow me here for more financial tips & tricks: http://instagram.com/mandyythomas (@mandyythomas)
Click here to download my free favorite business systems and tools list to make your business more organized and to get your time and energy back, so you can be more productive and profitable!
Do you have any questions or anything to add? Leave me a comment in the comments below and I will respond back to you!
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