In an article published this week in Entrepreneur, Pamela Slim evaluates common problems small companies face and how she thinks they can best overcome these issues.
One of the problems that stuck out most was the issue of "Reacting vs. Looking Ahead". A great point to make, as small business owners can feel like they're constantly on a hamster wheel of catching up to the events that unroll on a monthly or daily basis.
"“short-termism” is a common problem amongst small business owners. The survey found that most small business owners (63 percent) plan strategically just a year or less in advance"
As a CPA, it's important to realize it can be difficult for your clients to find time to plan for the future of their company while they are trying to manage the day-to-day tasks owning a business brings with it. This is why keeping track of your clients performance and consulting them on how to best move forward in the next year or years to come is something that makes you irreplaceable in the eyes of your clients. Having an app like Peerview Data makes achieving this all too easy as we provide a safe space to store your clients' data and offer you readable, actionable analytics and benchmarks through our Industry Reports.
Having a trusted adviser who's able to point them in the right direction and provide a rough outline for where they need to be moving would be a breath of fresh air to any business owner. What are you doing to help keep your small business clients on the right track?