WIIFM - What’s in It For Me?
Not a radio station (WII FM) but a statement of your interests.
It’s time to ask yourself some telling questions -
Q: How do you classify your accountant
- as a cost (score 0 points), as an investment (score 2 points)?
Q: What value does your accountant add to your business?
- none (score 0 points), not sure (score 1 point), he’s part of your team (score 2 points)
Q: How much money has your accountant helped put in your bank account?
- none (score 0 points), not sure (score 1 point), at least £10,000 (score 2 points)
Q: Does your accountant understand your business drivers?
- what’s a business driver? (score 0 points), we discuss them periodically (score 2 points)
If your accountant scores less than 8 points then you are probably not getting best value for money. If your accountant scores less than 3 points then he is simply a cost! You may well be paying a low fee, but if your accountant isn’t contributing to your business then what are you paying him for? A set of papers with some numbers on!
A traditional accountant will typically tell you how much profit (or loss) you made in the last period, and how much tax you'll have to pay; and if that's all you want then we will happily recommend an accountant who ‘practices’. To be frank, it’s unlikely that we are the best partner for you.
If on the other hand, you’d like to know how an accountant can put money in your bank account, find out how to get a return on your investment in accountancy fees, and how understanding your business drivers will help improve your efficiencies then speak to us. A Vector accountant will not only tell you what did in the past, they will also help you look to the future; to what could be.
We take the numbers, and combine those with your aspirations and business objectives to provide advice on the best options. We can suggest appropriate strategies to meet your needs; whether that’s to improve performance, turn loss into profit, reduce your tax liabilities, or even sell your business, we work with you to help you to achieve your goals.
We help to VECTOR your business; numbers and direction ... to achieve improved performance!
We’re not in practice. We’re in business. So ask yourself ‘what value does my accountant add to my business?’