As contractor accountants, we love staying up to date with any business-related news, this post is inspired by the fantastic Michelle Rodger of Tartan Cat Communications. Read her full Scotland on Sunday article here.
Over the years I’ve seen this time & time again. People seem to think that as they were the founder of the business they have to be the leader / CEO too. That’s okay in the startup phase, where their inspirational vision is absolutely what’s necessary.
But once the business becomes established it morphs into a different animal, and the skills needed to run it are quite different.
Too many don’t recognise this, or feel they need to cling on to “power”. What then happens is that the business growth slows down, it loses the culture it once had, and it starts to lose good people. They also find themselves doing less and less of the “technical” work they used to enjoy and more and more time on admin / HR / management and it becomes a grind rather than being fun.
So from time to time it’s important to sit back and ask yourself – am I the right person to be running this company? Paul & Tim in Michelle’s article did, and made smart decisions. Will you?
If you would like to talk to an expert accountant, then get in touch and we will be happy to help!
Cash flow management revolves around regulating the funds entering and leaving your business. This supervision allows you to maintain a healthy balance, ensuring your business can cover its operational costs and future investments. As a self-employed business owner, mastering cash flow management is critical for your venture’s longevity and profitability.
The success of property investment can hinge on many factors, and one that often gets overlooked is the crucial role of accurate property accounting. Missteps in this area can lead to serious financial and legal implications. This blog post explores common property accounting errors that property investors make and offers practical advice on how to prevent them.
Financial health checks for property investments are integral. Like any financial endeavour, property investments require meticulous management for fruitful returns. A core aspect of this management is these regular checks. This blog delves into the significance of such assessments and how they can bolster your property investment success.