Today’s task:
Ask an expert for help.
At the end of a call a couple months ago with my CPA, I was told that I needed a better system for keeping track of my finances for my business.
My heart sank as I realized that what I had been doing wasn’t very helpful for my CPA and actually costing her more time (and me more money) to have my taxes filed.
I’m fairly certain that this year will be less complex because I won’t have both my farming business and other income, but I also still feel like it’s a good practice to get in the habit of asking for advice from experts on a regular basis, even if you don’t feel like you need it.
Well, I felt like I needed it, so I reached out to my mentor through the West Central Small Business Development Center to see what resources would be available to me regarding small business finance, really, bookkeeping.
I had a meeting this afternoon with a bookkeeper based out of Fargo, and absolutely loved the conversation. First of all, she affirmed that I actually have all the right systems in place. Secondly, she provided me with a free resource that I could use instead of Quickbooks (Wave…haven’t heard of it, but will be looking into it soon). Thirdly, she mentioned a key characteristic of her ideal clients (at least 50 transactions a month), so I know that if I get to that point, I will know if I’m a good fit for her or not.
I felt like it was a half hour well spent, even though I didn’t come away with what I thought I would during the conversation.
So my next steps are to reach out to my CPA and see what information I’ll need for when I take my business more international this year (what can I write off, what expenses do I need to be keeping track of and how, how do I set up a registered agent, etc.), and also look into the Wave software.
Overall, a very productive day on the finance front.
Wherever you find yourself financially, seek out the help of an expert – reach out to a company that offers a service you might want/need in the future, even if you know you can’t afford their services right now. You’ll probably learn something along the way and the only investment you’ll have in it is your time!
Today’s resources to keep you inspired:
