ACCOUNTANTS CAN BECOME A TRUSTED ADVISOR FOR BUSINESS PPT

1. ACCOUNTANTS CAN BECOME A TRUSTED ADVISOR FOR BUSINESS Accounting & Business Consultancy

2. Instructions for use There has been a paradigm shift in the past decade with a renewed interest in entrepreneurship, with starting a business being a dominant career choice for many.   Entrepreneurs start businesses with a skillset in the service or product that they are offering but struggle when it comes to effective business administration. Many small business owners assume that hiring professionals could cost them money that they cannot afford. But hiring an accountant can help them successfully set up systems for their venture that can gear the business towards success thereby being one of the most value-adding activities that a business can spend on. Accountants are the 5th most trusted professionals in the world. They have access to a company’s confidential data which is why business owners can easily consult them on various strategies that they might not be comfortable sharing with other managers or employees. More info on https://www.mymconsultancy.com.au/blog/accountant-in-brookvale/

3. HELLO! MYM Accounting and Business Consultancy We provides small to medium sized businesses with a dedicated and strategic part-time CFO or virtual CFO to help you run a strong and profitable business and make timely decisions. We provide clients with strategic advice and a clear path towards current and future growth.

4. Business Planning The key focus of atrusted business advisor such as an accountant is on business growth because businesses require strategic planning. This includes predicting chances of success and developing a business plan that roughly sketches a map spanning over 3-5 years. Accountants are experts at creating a detailed budget and forecast demand thereby ensuring that the resources of the firm are allocated optimally so that a business remains financially stable

5. Employee Productivity Analysis A business can never reach its true potential if it is not for its employees. Accountants as trusted advisors have a bird-eye view of employee efficiency so that they are in a good position to be able to identify suitable employment types for different departments. With business owners wrapped up in the daily operational aspects of working, accountants can help in analyzing which kind of employment structure would be the most suitable for a business and they can create an optimal mix of part-time and full-time employees and contractors. Multiple surveys have shown that part-time workers are around 20-25% more productive than their full-time counterparts; hence, compounded with the fact that companies hire them on lower pay, make them fit for areas where productivity is an absolute necessity. 

6. Controlling Expenses Even before a business owner (the buyer) and the supplier sign a business contract, they must hold negotiations on agreed terms. Those terms must include the payment method and potential costs and risks. Additionally, if a supplier falls short of the required or agreed quality, the advisor can suggest switching to new suppliers keeping financial barriers and contract terms in mind before terminating the contract. In short, an accountant can be a trusted advisor in issues related to supplier negotiation and service administration. A usual mistake that business owners make is hiring cheap vendors. This can be a plan that backfires heavily. Accountants in Brookvale can circumvent this problem by carrying out regular analysis for the required service’s rate in their area and giving holistic advice to owners with quality, reliability of the vendor, and timely deliveries being included in the information provided to owners or managers making the decisions.

7. Cash Flow Management Managing the Cash Flow of an organisation is the one of the key objectives of a business owner. As your local accountant in Brookvale and Greater Sydney, MYM Accounting and Business Consultancy can assist in providing a detail cash flow analysis and guiding the business in terms of making the right decisions to remain cash flow positive.

8. Price Optimization Optimizing prices is perhaps one of the most challenging tasks that business owners face today. Finding the sweet spot for your product price that can maximize the profit and yet maintain sufficient demand is a balance all business owners tempted to make. This is where accountants can be real asset. Real-time demand plays a crucial role, so the company must carry out a breakdown of public interest in the product. Advisors, with a system of data collection in place, can collect valuable insights through customer survey reports, demographics and psychographics, and operating costs to suggest the best price. They can also determine peak and low seasons and help introduce discounted deals and promotional prices with offers born from the price optimization process. 

9. THANK YOU! Accounting & Business Consultancy We are looking forward to start a project with you! info@mymconsultancy.com.au 0437157610 www.mymconsultancy.com.au Disclaimer : This is a generic Information & post; content about the services can be changed from time to time as per your requirements and contract. To get the latest and updated information, contact us today or visit our website.