The successful business person understands they can make more money by concentrating on their unique ability and paying others to handle areas like payroll and marketing.
Jefferson City, Missouri (PRWEB) May 31, 2016
Bert Doerhoff CPA, founder of AccuBiz, provides surprising insight on a topic many business owners find particularly engaging: the Top Ten Reasons Small Businesses Fail. When a business fails, many owners tell stories of problems with the bank or of a partner that didn’t hold up their end of the agreement.
However, the author of the article and Doerhoff agree that the source of small business failure often is, in fact, the owner.
There are many reasons for small business failures, from growing too fast to the business owner being too conflict-averse to make business deals. In some situations, the owner hasn’t done enough research to realize that there is no market for their product or service at the price point they’ve chosen. Many of the common business mistakes hover around a central theme, in which a business owner is in over their head, says Doerhoff.
“An owner tends to start their business because they have a particular talent, skill or a unique product. What they often don’t have, however, is business expertise. Much of the skill that a small business requires will have little to do with the owner’s core service or product. It’s critical that a business owner be good not only at their product or service, but also be good at running a business,” he adds.
Doerhoff points out that those business owners that are not experts at business are often also unskilled at recognizing when it’s time to hand off a particular area of the business. They spend too much time struggling with bookkeeping and other tasks, rather than concentrating on the areas in which they have expertise and as a result, the business fails to grow.
In his own professional CPA business, he reminds business owners often that it may be in their best interest to hire out tasks that aren’t in their distinct wheelhouse. “The owner has a unique ability in his or her special field and any work done outside that field is a distraction from their time and ability to grow the business. The successful business person understands they can make more money by concentrating on their unique ability and paying others to handle areas like payroll and marketing,” he concludes.
About Bert Doerhoff:
Bert Doerhoff, CPA, works closely with small business owners to minimize income tax and fill the gaps so the owner has more time to work on the customer centered core services. Doerhoff and his team can outsource all functions of an accounting department, from bookkeeping to CFO services. The CPA firm has multiple QuickBooks advisors to help clients maximize the benefits provided by their accounting system. Doerhoff is co-author of Six Steps to Small Business Success available on Amazon. Contact Bert Doerhoff, CPA, by email at bdcpa(at)AccuBiz(dot)net; by phone at (573) 634-4006; or learn more at http://www.AccuBiz.net.