Hector Garcia Says: “Five Questions You Should Not Ask Your Accountant”
Did you know small businesses are more likely to succeed (perform better, last longer and bring in more money) when they’re backed by an accountant? It’s a fact. When you’re with your accountant, you probably have plenty of burning questions.
CPA, small business consultant and YouTube superstar Hector Garcia wants to point you in the right direction (if you haven’t already checked out Hector’s YouTube channel, we highly recommend watching a few dozen of his videos).
Known for his unparalleled insight into accounting and QuickBooks best practices, Hector recently shared five questions you should not ask your accountant. His “do not ask” list is based on his belief that questions that are too broad or too focused on short-term problems garner information that’s unhelpful - or worse getting stuck in the old mentality that accountants have a very narrow role...
He also recognizes that these five questions are the among the most commonly asked and quite possibly the very reason that an entrepreneur visits the accountant in the first place; but, the spirit of the challenge to the questions is to push the profession to be focused on adding more value-added advisory services.
1. How do I pay less taxes?
2. How do I grow my business (and sales)?
3. How do I cut costs?
4. How do I improve my cash-flow?
5. How do I control the labour hours of my employees?
As a best practice, Hector recommends asking forward-thinking questions that focus on the long-term growth of your business. Don’t get caught up on “small-wins.” Instead, concentrate on the whole journey. Ask specific questions, rather than generic ones, so the answers are unique and meaningful to your business.
If you’re wondering what questions you should ask to improve the way you and your accountant evaluate your business strategy, Hector’s got you covered. Check out the second half of Hector’s video for 17 awesome questions you can use during your next consultation.
A very special thanks to Hector Garcia for his tremendous insight! Tap into Hector’s vast library of knowledge and reach out to him directly if you love what you see.
Now it’s your turn
What are some more “unproductive” questions you hear asked in your industry?