Employee or Business Owner, It’s all in the Paycheck?
At a conference this summer I attended a panel on entrepreneur CPA firm owners. I believe this applies to all business owners so I apply it to all of us. On the panel, were 3 of my friends and one gentleman I didn’t know but came to find out that he had built a firm and sold it and is starting another firm doing IT accounting work only. They were all young men under 40.
The audience, including myself, was mainly young up and comers (I am still under 40) and just beginning their career, deciding what they want to do and finding opportunities that would best fit them. The conversation of pay checks and the need for one was a very big deterrent for many to decide that firm ownership was not the route they wanted to go.
I started thinking about the thought process that one would need to have in order to be an owner and quite possibly take ownership in any company. You see, there is a difference, in how an employee looks at work and an owner looks at the company and too many cliff jumpers believe that owning a business is like a job.
Owners get paid differently. To quote my friend Michael Hsu, CPA, MSA, from DeepSky Accounting “Owners get paid to do work, the risk that he takes and the financial investment that has been put into the business.” That’s 3-ways that owners benefit financially from their business activities.
Being a business owner means there will also be times when you do not “get paid”. Your employees and vendors along with the IRS will always receive a paycheck and that’s where your risk comes in. You have to have the intestinal fortitude to accept and persevere to a bigger goal, seek help so you can get paid and make sure you really are profiting and able to see the fruits of not only your labor, but also your risk and investment.
That’s where we come in. We are not your employee. We partner with you and as you grow we do too. That’s our expectation!
Why do we think this way? Because we are ownership minded, understanding the blood sweat and tears of owning a business. We don’t just get the job done we get it done with your success always in mind.
Outsourcing your accounting to us would be a great start but we are a triple threat and can offer other tax and consulting services that will drive your profits up and costs down…..
Give us a call! You are one step away from having the highest quality accounting department right at your fingertips!