“Our people are our secret to our success” said the business owner – The counterpoint to that is they’re also your greatest vulnerability.
Is your company’s greatest strength also its biggest risk?
“Our people are our secret to our success” said the business owner – The counterpoint to that is they’re also your greatest vulnerability.
Charities need the exact same robust financial systems and processes as businesses.
Your signed accounts enter the public domain so there’s an extra reason to get them right.
What was the worst experience you’ve had with an accountant? Do you have a story that still makes you recoil in horror?
How deep fake technology scammed a Hong Kong business out of $25 million
The company owner took responsibility for building an accounting function which they understood very little about.
They had no idea what an efficient, successful finance department that helps propel a company forward looks like.
What are you doing that you shouldn’t be? Are you wasting time on your finances when you could focus on growth, not accounting.
Experience indicates to me that business owners without strong financial backgrounds focus on profit and loss rather than the balance sheet.
Have you ever found yourself making decisions in the dark?
Too many business owners are reluctant to admit gaps in their financial knowledge. When you’re the person in charge, it can feel uncomfortable.