The Accountant's Office

Strive For Work/Life Balance

admin — Thu, 17 May 2012 16:00:49 +0000

So many entrepreneurs that I work with seem to think that being busy 24/7 means they are being productive 24/7. The fact is, you need to separate yourself from your business and strive for a balance of work and life in order to be truly productive. Consider too, that being constantly busy doesn’t mean you’re being constantly productive; in fact, being “on” all the time eventually leads to burnout. Being in business for yourself means you wear many hats: salesperson, accountant, receptionist, marketing… the list goes on. While we can certainly help you with your virtual accounting, you need to take steps to take care of you so that your business can take care of itself.

Here are ways that you can take a step back, recharge your batteries, and then move forward with a more balanced life:

Have clearly defined business goals. Without knowing where you want and need to be on a daily, weekly, monthly and annual basis, how will you know when you’ve arrived?
Have clearly defined personal goals. Yes, your personal goals need to be part of your business plan. If you don’t have personal goals (ie, run a marathon, learn to crochet, walk every day, etc.) you need to get some. Having personal goals will help you balance your life and work.
Lists are your friends. Make a list every morning or at the end of each business day for the next day. A list will keep you focused and the mere task of crossing an item off your To-do list is a mood booster!

Remember, your business with thrive with you at the helm if you are a happy, healthy you so don’t forget to schedule time for yourself.

Do You Play Well on the Team?

admin — Tue, 15 May 2012 16:00:52 +0000

Business is definitely a team sport. Working together well as a team benefits everyone. Last week I got an email from a client who was referring an associate to us. The associate was starting a new business and was in a very similar situation that my client was when he first came to us. He had copied the CPA that he used on the email.

It was a “win” for everyone!

The client got to be the hero for taking care of his associate
The CPA got a new client
My firm got a new client
I was able to refer the new client to someone to set up her PLC
The associate/new client saved time and energy by working with a team that worked well together

When everyone knows their role and works for the benefit of all, everyone benefits. Let us know if you need a virtual accountant on your team!

How can you make the teams you work and play on function better?

Do You Combine Work and Play?

admin — Tue, 08 May 2012 16:30:13 +0000

While on a business trip this past weekend, I took advantage of the fact that I was in Santa Barbara, just a short hour’s drive down the coast from my good friends Jim and Paula Cathcart. They have been inviting me to visit for years, but making a special trip out there just never happened. I couldn’t resist the visit and the beautiful drive by the ocean.

What work are you doing that you could combine play with?

If you’re at a convention, come early or stay late to visit local sites or play a round of golf.
If you’re at a meeting close to your favorite shop, plan time afterwards to browse a little.
Schedule business lunches at your favorite restaurants to have another opportunity to enjoy them.

Thanks, Jim and Paula, for your warm hospitality! I’m so glad I took the time!

How can you combine work and play?

When To Outsource

admin — Thu, 03 May 2012 17:00:35 +0000

You’ve been running your business for a while now and are getting busier each passing day. That’s great news, right? Of course it is! You’re also discovering though that there some business tasks that are falling by the wayside. When was the last time you balanced your checkbook, answered all of your emails, or updated your calendar? If you find you’re concentrating completely on growing your business and meeting with new prospects, you may be neglecting the other day-to-day tasks.

And the reverse is true: Are you spending your precious time doing activities that don’t produce revenue, while leaving activities that do create cash flow undone? If so, the time to delegate to on outside vendor is NOW! That’s all outsourcing really is: delegating.

The best time to outsource is before you have an urgent need. Trying to find a virtual accountant to load all of last year’s accounting activity two weeks before your income tax extension deadline is not the time to outsource. The time was two months ago!

Don’t let yourself get to the point where you feel stuck, overwhelmed, or unproductive. Outsource!

Do You Resist?

admin — Tue, 01 May 2012 16:30:20 +0000

Are you one of those people who avoid change? I confess I was resisting changing cell phones. My Treo was sadly out of date and it was awful to do emails on it. Still I resisted changing to a new phone.

Want to know why?

There are so many choices! There are many phones that might meet my needs. Which one was the “right” one? This was solved with research.
I was afraid it would take me a long time to learn to use it. I kept hearing about all the apps and features. It sounded overwhelming! This was solved by a lesson at my local Sprint store.
I really wanted an iPhone but didn’t want to become a Mac user. Turns out you can sync your iPhone to your PC. Who knew?! Matt, my computer guy, that’s who! Asking an expert clears up misconceptions.

I finally got my iPhone a few weeks ago. It was easy to learn how to operate and it does so much more than my Treo. I am officially in love!

This is just an example. What are you resisting?

The Benefits of Outsourcing

admin — Fri, 27 Apr 2012 16:01:35 +0000

As an entrepreneur you’re incredible at the manufacture of widgets, the cleaning of swimming pools, or whatever your area of expertise is. Are you also an expert in blogging, virtual accounting, human resource management, or technology? Should you be? The bottom line, financial answer is a resounding, “no.” Business owners who succeed are those who focus on their core competencies. They understand that their business benefits by outsourcing the tasks at which they don’t excel and that don’t propel their business forward.

Here are three ways outsourcing might benefit your bottom line:

You won’t have to spend a lot of time training because you’re hiring for a specific need, i.e. accounting, blogging, etc.
Your productivity will soar because you aren’t bogged down in the minutia.
You’ll give quicker turnaround on projects for your clients because you’re not focusing on tasks which don’t benefit them or grow your business.

Would your company benefit from outsourcing? Make a list of areas you might outsource and then start looking for qualified vendors who can free up your time and give you peace of mind.

Do You Celebrate Life?

admin — Tue, 24 Apr 2012 12:05:24 +0000

Birthdays are a great way to remind us to celebrate life. I hope you don’t ever let yours pass by without gathering with those you love to mark the occasion. My birthday is this week, so I am celebrating – not the number, but the event!

We all come with No Lifetime Guarantee. We don’t like how long our life will be so put as much life into each day as possible. Here are a couple of ways you can do that:

Stay connected with your higher power – you are here on purpose, not by accident
Take care of your body – it’s the only vehicle you have to get you through this life
Guard your heart and your mind – let only good things flow in and out of these precious parts of you

While no one can tell you how long you are going to live, this Lifespan Calculator can make an educated guess for you. It can also point out some things you can do to change it. Give it a try at here.

The Value of Team Meetings

admin — Thu, 19 Apr 2012 17:00:08 +0000

Because my team is virtual, we make the time to gather on a quarterly basis for team building, training, sharing best practices, and just plain fun! We wouldn’t have these meetings if they weren’t productive – I mean, what entrepreneur has the time to be away from the office to attend a meeting if they don’t gain anything from it? I know I don’t!

Here are some of the reasons I have for hosting my team meetings:

To reconnect. We all work from our home offices and communicate electronically, so face-to-face is a welcome change.
To make certain we are all moving along the same mission-centered path I’ve set for the business.
To uncover any issues that simply need to be discussed in person.
To train and inform the team on new things that we’re starting.
To inspire and motivate – we all do that for one another.
To tell my team face-to-face just how much I appreciate all they do every day for our clients and for me.

How often do you set aside a day to simply reconnect, recharge, and re-inspire your team?

Want To Be On The White House Panel?

admin — Tue, 17 Apr 2012 16:00:01 +0000

That was the question that was posed to me recently. Do you want to participate in a White House panel of successful entrepreneurs? Of course, I said “Yes!” So when The White House Business Council held their Urban Economic Forum in Phoenix last week, I was one of the speakers for the workshop on “Accelerating the Path to Success.”

This event was a great opportunity for high level discussions between senior White House and Administration officials and successful entrepreneurs. There were also speed mentoring sessions with experienced entrepreneurs, dedicated networking opportunities, and a resource expo designed to connect entrepreneurs with the public, non-profit and private sector resources to help them grow and hire.

I hope when you are asked, you say “Yes!”

Take an Extra Day! Take 2!!

admin — Thu, 12 Apr 2012 16:00:49 +0000

The deadline for filing income tax for individuals and partnership for 2012 is Tuesday, April 17^th.

April 15^th is on a Sunday and April 16^th is a holiday in Washington, DC.

What this means is that all of us get two more days to get that important filing done. E-file for a faster refund and to avoid the line at the post office.