Accountants are of many kinds but essentially, they can be grouped into two large categories – the kinds who work for others and the kinds who run their own firms. While most people will start in the first category, a few entrepreneurial accountants will decide to bite the bullet and go their own way.
Here are some things that will tell you how you approach accounting and whether you have what it takes to become an entrepreneurial accountant!.
The biggest mistake any accountant can make, once they start their own business, is to not market their business. Businesses fail not because of lack of capital, but mostly because of lack of sales. If you’re constantly looking for new clients to keep the pipeline flowing, then you’re probably an entrepreneurial accountant!
You may want to emulate the likes of some of the top accounting firms in the world but when you’re starting out, there’s no such thing as ego. You do not refuse any job and at times, you quickly realise that the only way to get a client is to bid the lowest. You may not be getting the cream of the crop but getting something is often better than nothing.
A job has safety, security and a monthly income – a business is unpredictable, hair-loss inducing and stressful. So why would you still want a business over a job? Chances are, you are not attracted by the concept of being a boss but by the concept of doing things your own way. You do not want to be limited by your role in a firm and want to implement your ideas and concepts to make the firm grow!
You cannot do everything alone and when it’s time to expand, you need to hire the right people. If you believe in the concept of delegation and know exactly how to delegate responsibilities for a smooth, efficient team, then you’re made of the right stuff!
A ‘yes’ to all these points may not be conclusive, but it does indicate that you have what it takes to be an entrepreneurial accountant! BizzAcc can point you in the right direction.