Blog

5 Reasons Why Business Owners Leave Their Accountants, and The Alternative Option I Offer

17-February-2021
17-February-2021 13:13
in Business Coaching
by Tim J Seymour

When I meet with prospective new clients, they tell me why they are leaving their current Accountant, and the 5 common reasons they give, are:-

 

1)      Reactive rather than Proactive

2)      No Advice

3)      Distinct lack of Guidance

4)      No Timelines

5)      No Education

  

When I hear this, it seems to me there are so many Accountants still providing services in the old-fashioned and out-dated traditional way. They wait for the client to provide the paperwork, produce the Annual Accounts, calculate the Tax Liability and submit, by the time the Business Owner receives the information it is too late to set money aside for the impending Tax bill. Although they are told they have made a Profit, they do not have the Cash to show for their hard work.

These Accountants simply take care of the compliance work, nothing more, nothing less and of course they do it very well, but in this evolving business world Business Owners are looking for more support and help to operate a profitable and cash-rich Business.

Here is where I come in, not only an Incorporated Financial Accountant, but one of only around a dozen, Certified Profit First Professionals in the UK. This provides me with more tools, experience and knowledge that I can help business owners with, to achieve their goals and ambitions for their businesses.

When a new client signs up to one of my monthly packages, the first thing I do is to run a Profit Assessment which reviews the way the Business has operated from a Cash Flow position historically, then I produce a Roll-Out Plan which details how we are going to work together to put aside cash for Business Owners Salary, Profit Distributions, Future Tax Liabilities, VAT for Quarterly Payments and for any other Projects the Business might have as part of their future plans.

We have Monthly Meetings whereby I will hold the Business Owner Accountable for following the plans, setting aside the money into the correct bank accounts and the correct levels and then supporting with advice, and options if there have been any problems surrounding this. We review the current position, discuss any pain points and challenges, and plan the future not only for the Business but for the Owners Personal Aspirations too.

It may be that the Business Owner is looking to grow the business, become more profitable, become more cash-rich, simply spend less time at work or a combination or all of these options plus more. I can help develop strategies and plans to achieve these goals.

Using our preferred online digital software, Xero, we are transparent with our work as our clients are provided access to the software in which they can review reports etc, but let’s be honest that is our job and it is a given part of our engagement that we should be updating accounting records, producing reports and dealing with all of the compliance work as any other Accountant would do. But what makes me different is the level of Coaching and Consultation work wrapped into our monthly packages, implementing and maintaining the Proven Profit First Cash Management System and providing the strategies to help the Business and Business Owner achieve their goals.

I am currently offering a FREE Business Consultation Meeting to any Business Owner, so if you would like to take up this offer with no obligation please register below

REGISTER FREE

 

Tim J Seymour, Profit Coach

Certifield Profit First Professional

Incorporated Financial Accountant

 

For more information on Profit First click here  PROFIT FIRST

 

 

 

To get some help with your Business call Tim J Seymour:

01454 501 600