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Jeff Banks Blog 12 August

by Jeff Banks

Quote of the Week

This week we hark back to the 1989 movie The Abyss

“All of a sudden, $300 an hour don’t sound like much.”

Consultants (and here I include accountants and solicitors), coaches and the like may seem awfully expensive. Some accountants and solicitors I know charge in excess of…

Quote of the Week

This week we hark back to the 1989 movie The Abyss

“All of a sudden, $300 an hour don’t sound like much.”

Consultants (and here I include accountants and solicitors), coaches and the like may seem awfully expensive. Some accountants and solicitors I know charge in excess of $1,000 per hour for their services and if you look at the real rate a business coach charges clients I think it would surprise most small business owners BUT… What price failure.

It’s all about not planning to fail I would venture. You ensure your legal agreements are in place before hand so you don’t end up in court later, you ensure your tax strategy is right before the end of the year because you don’t want to fall foul of the dreaded fiscal fiend, you employ your business coach so you get it right so you are here tomorrow and not one of the business failure statistics. The time and money spent in getting it right the first time in my opinion far outweighs the potential cost of fixing it later.

Dangerous territory I know when you look at accountants as a necessary evil BUT again the compliance part of accounting and tax is one thing however proactive accountants like us looking forward and not just back can provide more than just “doing the tax”. A trusted advisor hopefully points you in a direction that keeps you not only out of trouble but helps you to maximise profits by reducing costs and noting inefficiencies.

Our catch phrase is “Not Your Ordinary Accountant” for just those reasons.

2 Comments

AdrienAug 15 2011 - Reply -

Your point is valueble for me. Thanks!

DaveAug 17 2011 - Reply -

Hi Jeff, thanks for the insightful views, always a pleasure to read your words of wisdom. I take your point about being on the front foot, looking forward to your next post. Dave

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