Creating Business Practices That Support Longevity and Success

The policies and practices you establish in the beginning of your business set you up for long term success. By taking the necessary measures to protect yourself legally and to protect your clients, prospects and customers you establish yourself as a credible and professional organization.

Your accounting practices, while not something you'll publish and make available to the world are critically important to your success. Determine your accounting cycle. Choose a system that supports organization, accuracy and efficiency. If you're going to hire someone to manage your accounts, take great care. Hire someone who understands your business. Hire someone with a stellar reputation and then implement practices to support your combined success.

If you're going to manage all or part of your accounting yourself, make sure you understand all that's required beforehand. Consider seeking expert advice to set up your system.

Don't be afraid to ask questions. Unless you're an accountant or bookkeeper yourself, you're not expected to know the ins and outs of a business accounting system.

You are, however, expected to create an accounting practice that supports your success!