Here are a few of the major obstacles you might run into as you begin your DIY accounting journey, along with tips to help you sail over those hurdles.
DIY accounting can be a very time-consuming task and that is why we recommend you seek the services of qualified Long Island Business Coaches to assist you. Going through your Long Island Small Business finances in enough detail to get a handle on where you’re doing well and how you can improve is a slow process, but this is why we recommend that you use qualified Long Island Business Coaches. Make sure that your Long Island Small Business doesn’t rush through it (more on that later). Given how hard you already work, finding that extra time to go through your Long Islands Small Business Finances with a Long Island Business Coach can seem impossible.
One of the reasons for the time sink in your Long Island DIY accounting is that there’s a lot of complicated jargon involved. Figuring out what it all means can be frustrating and confusing, and that is why qualified Long Island Business Coaches can be hired and brought on to help you with this process. This leads many people to give up on taking control of their own Long Island DIY Accounting.
Of course, even with a Long Island Business Coach it is still going to take the necessary time and effort, you might find yourself making mistakes, however you will be on the right path for Long Island Small Business Finances. And some Long Island DIY Accounting mistakes can turn out to be very expensive. This is one of the scariest things for many Long Island small business owners contemplating doing their own Long Island DIY accounting.
Finally, we need to face the fact that, for many Long Island small business owners, Long Island DIY accounting is just not all that enjoyable. If you’ve started your own Long Island Small business, it’s not because you want to spend hour after hour balancing numbers and figuring out your Long Island small business taxes (unless you’re already a Long Island DIY accountant, of course!). You’re passionate about your product or service, and that’s where you want to channel your time and energy.
In fact, our group of Long Island Business Coaches has put together a program that will completely and utterly change the way you view Long Island DIY accounting, helping you to confidently and competently breeze through your books like you were born to do it (and believe me, you were! Even if you don’t know it yet 😉 ).
But before I get into that, a few tips to get you in the mood for Long Island DIY Accounting
- Set aside short, regular bursts of time; for example a half hour a day. Decide ahead of time what you want to achieve during that time, and do as much as you can. Set a timer if it helps! Breaking up accounting work into manageable pieces is one of the best things you can do when you’re starting out. If you try to do it all in one shot, you’ll burn out and never want to approach accounting again.
- If the jargon is getting to you, put together your own glossary of terms as you work through all that new information, and keep it updated and handy on your computer. Given enough time, you’ll find yourself referring to it less as you become familiar with the terms and their meanings. You’ll become an expert in no time!
- If you’re terrified of making mistakes, remember that you’re not alone! Here’s where it’s important to have access to a supportive accountant who can guide you through some of the trickier aspects of handling your small business finances. Reach out to a professional you can trust to take care of you, and don’t feel bad if you need to hand over the reins occasionally. As I said earlier, learning all this stuff takes time and effort.
- If your main obstacle is that you’re just not that into accounting, well… there’s no easy fix, other than to remind you of all the benefits that come from knowing the ins and outs of your finances. All that knowledge and experience will take your business to a new level, and might even improve other areas of your life too. Curiosity and persistence are your best weapons here. We tend to become bored by things we don’t understand; once you become familiar enough with the accounting process, you’ll probably find it more enjoyable.
Long Island DIY accounting is not for the faint of heart—but then again, neither is starting a Long Island Small business in the first place! And you’ve already managed that part. Your books are easy by comparison!
As a Long Island small business owner, you already have the motivation and organizational skills you need to start taking control of your Long Island Business finances. Now it’s just a matter of applying them to a new source of information.
Have a wonderful day,