Recently we read some comments from some business owners saying they felt stupid asking certain questions, that seemed too simple. At Do The Sums Bookkeeping and More, we believe asking questions however simple they may seem, is NOT a stupid thing to do at all!
You should not be shy about asking any questions. A Questioning mind is a great business tool you can have, as you can’t progress in your business, without learning. Then processing the answers to your questions. Even if they might lead to other questions …
Life is about learning, and business owners should feel free to ask questions about business systems. Or taxes. Or how to process accounts correctly. It may be about simple calculation process – or a deeper question of working out how much capital you have in your business? Or it could be about your sales; why am I not making as much profit this year as I was last year? Is there a better way to price goods to this market? Do I need to register for GST? How can I set up better security measures in my business?
Just a wee notice. Do please be aware of whom you are receiving your answers from, especially in online forums or social media posts, especially if it directly concerns your business finances or legal administration processes e.g making tax deductions. It’s sensible to check and confirm the sources of whom you are getting answers from, or it could end up being a costly mistake if the answers are not quite correct. Your business structure may be quite different to theirs. Tax laws can be complex and there are different tax rules for different entities. It may be wise to contact professional advisors or the relevant government department directly.
However, that’s not to say you can not ask questions on social media posts or amongst your friends, as with lively online conversations, you can end up with some great business information too! All we suggest is to be careful using some information that may or may not be suited to your business.
Some of our clients are new to the world of running a business, and some are well experienced in the world of finances – but all still need help from time to time, and all can ask questions. We are happy to work on educating, training or helping them along with the way in understanding their business financials. Often we do go around asking questions from other sources, to build up our expertise and information about finances. We network amongst other business contacts and professionals, whom we are happy to refer you to if we are unable to help you with your question or problem.