Which of these common accounting myths is choking back your business growth and robbing your profits?
Dear Business friend, farmer, rancher or non-profit director,
Over the years, I’ve consulted with hundreds of businesses, from start-ups to 20-year veterans. Many of them unknowingly believed common accounting myths that cheated them of higher profits and slowed their business growth. Chances are, one of these accounting myths may be crippling your business too.
These myths cripple your business because they prevent you from knowing your “true numbers.” Numbers like: What are your most profitable products? Who’s your most productive employee? How much is your business worth? BASICALLY, are you making any money!?
Without knowing your numbers, you can’t make strategic business decisions. Or worse, without knowing your numbers, you could be making decisions that slow your business growth or weaken your financial stability.
But this doesn’t mean you need to analyze boring spreadsheets all day long. In a moment, I’ll show you an easy and inexpensive way to know your true business numbers, so you can make smarter, more strategic business decisions every day.
Before I explain how, it’s important we clear up a few common accounting myths that may be damaging your business right now. Myths that hide your numbers, or just as dangerous – give you false information…
Accounting Myth #1:
“I use accounting software to record my transactions, and that’s all I need”
Accounting software is great – but it’s not enough. These programs just record transactions, but they don’t show how to record transactions accurately. For example, not all expenses are the same. Did you know some costs are actually assets? This means, one mistake could lower the value of your business!
And when you look at all of those neat little reports the programs provide, do you really know what they mean? Part of knowing your numbers also means understanding how they affect your business.
Accounting Myth #2:
“I don’t need an accounting system because my business is very simple”
That’s what Paula told me when I first met her. Paula makes specialty candles on the weekends, which generates about $700/month profit. Her accounting system couldn’t be easier: add up the weekly sales and subtract the week’s expenses.
When I showed her how to look at her numbers closely, she realized most of her sales were from her least profitable product.
Because these products sold well, she naturally focused on them. But her numbers showed if she spent the same amount of time selling her high profit product, she could triple her income. By knowing her numbers, she went from pocketing $700/month to $2,100/month – for the same amount of work!
Accounting Myth #3:
“A bookkeeper handles my books, and tells me all I need to know”
I believe hiring an accounting professional is smart because it frees you to focus on what you do best – running your business. But delegating your accounting DOES NOT mean giving up your responsibility. You still need to know your numbers at all times. This means running reports that are useful to your business. Reports that help you manage your accounting professionals (and your business) wisely.
After all, if you’re the one making the business decisions, shouldn’t you base these decisions on clear facts?
Finally, an easy way to know your numbers and take charge of your profits!
Knowing your numbers is the difference between living paycheck to paycheck and having a comfortable cushion in your bank account…
Knowing your numbers is the difference between squeezing out a tiny profit and generously supporting your family…
Knowing your numbers is the difference between having a steady business and enjoying enviable growth.
Running a profitable business requires you to know:
- How much money you’re bringing in
- How much it costs to run your business
- How profitable your business is
- Which jobs or customers are profitable
- What your business assets are
- How much you owe
- How much others owe your business
- How much your business is worth
The only way to know your numbers is by creating a proper accounting system. Before you cringe at the thought, don’t worry. I’ve created this step-by-step program that shows you how to set up a basic accounting system quickly, easily and inexpensively. It’s called…
Accounting Made Simple for Busy Business Owners
Accounting Made Simple for Busy Business Owners is designed for entrepreneurs, business owners, farmers and non-profit directors just like you. That is, hard-working individuals who are short on time, not accountants by training, and who desire greater business success.
After teaching accounting for years and consulting with hundreds of businesses, I created a proven, easy method that takes the intimidation and confusion out of accounting. More importantly, my system makes your business numbers simple and useful. And, NO DEBITS or CREDITS!
Even if your current accounting system is nothing more than a shoe box stuffed with receipts, Accounting Made Simple for Busy Business Owners helps you make sense of it all. This system provides everything you need to create a basic set of books by hand, or a system to use with your accounting software.
You’ll receive five modules and a handbook guiding you step-by-step through setting up your business’s basic accounting system. All of the information you need to run your business for faster growth and bigger profits will be at your fingertips:
- Learn basic accounting terminology in a way that makes it easy to understand
- See real time snapshots of your business profitability and growth
- Save money on bookkeeping and accountant fees
- Talk knowledgeably with other professionals about your financial records
- Know which reports to run for your specific business
- In just minutes, compile records for year-end taxes
- Track your vendors, income, expenses, sales trends, customers and more…
Set up your accounting system for only a fraction of the cost!
It doesn’t matter if your business just started or if you’ve owned it for 20 years. Accounting Made Simple for Busy Business Owners provides a solid accounting foundation for all businesses. In fact, you’ll easily create an accounting system based on the same concepts that professional accountants use!
If you hire a professional to set up the same accounting system Accounting Made Simple for Busy Business Owners provides, they’d charge you hundreds of dollars! And that’s all you get. Which isn’t enough because as you start using your new system, you’ll likely end up with questions.
Questions like, “Where do I record this transaction?” Or “What do these reports really tell me?” Yes, you can call the professional who set up your system, but they’ll charge you for every minute spent answering your email or taking your call. Before you know it, you’ll easily spend over $1000!
But you won’t pay even a fraction of that. Because with Accounting Made Simple for Busy Business Owners, you have everything you need to:
- Set up your accounting system, simply
- Know basic accounting principles
- Understand basic accounting terminology
All for only $99!
Your No-Risk Guarantee for One Full Year
Order your copy of Accounting Made Simple for Busy Business Owners at absolutely no risk. If you don’t find it’s the easiest basic accounting system to set up and use, simply contact us for a prompt refund, no questions asked.
Better yet, try it in your business for one full year. If you’re not completely satisfied with Accounting Made Simple for Busy Business Owners at any time during that year, just call us for a full refund. Order now and you’ll also receive:
Your FREE GIFT:
How to Avoid the 3 Big Money Mistakes Made by Business Owners (a $49.00 value)
If you order now, I’ll also send you a special program titled, “How to Avoid Three Big Money Mistakes Made By Business Owners.” This business-saving gift explains what these mistakes are, and the simple solutions for correcting them. Armed with this information, you can save significant profits and strengthen your business for long-term growth.
You can buy this important information for $49 any time from my website. But if you order Accounting Made Simple for Busy Business Owners today, I’ll send it to you at absolutely NO CHARGE.
Even if the thought of finances seems daunting and confusing, I guarantee you’ll find Accounting Made Simple for Busy Business Owners amazingly simple to use. Within minutes after watching the learning videos, you’ll see how easily you can create a professional accounting system that can help your business grow.
At your fingertips, you’ll have all of the information and records you need, in a format you need. Just as importantly, you’ll understand your numbers and how to use them for smarter business decisions that lead to growth and financial stability.
Your satisfaction is guaranteed. So why wait? Get your copy of Accounting Made Simple for Busy Business Owners, and your free gift (valued at $49) today.