Sunday, June 16, 2019Embroidery's Voice and Vision

- Embroidery Business Success Tips

Chris

Join Joyce Jagger, The Embroidery Coach, as she simplifies the business of embroidery into easy-to-understand lessons for the new embroiderer. Her passion is to help get new embroiderers off to a quick start and help existing embroiderers improve their skills so that they can provide higher quality embroidery and increase their profits! Find more information about Joyce at www.TheEmbroideryCoach.com or connect with her on Facebook at www.facebook.com/TheEmbroideryCoach.

Don’t Let Bookkeeping Weigh You Down

Do you run your embroidery business and try to do it all yourself? Are you waiting on customers, setting up designs, running your embroidery machine, waiting on customers again and then, after all of this is done, are you trying to keep up with the bookkeeping? Do you sometimes just feel like a slave to your business? Isn’t it better to spend your time doing what you do best, whether that’s selling and marketing, customer service, running your machine or making decisions to grow your business?


An entrepreneur has to wear many hats in a day, but sooner or later, one is going to fall off. And the bookkeeping hat is usually the first to go: All of a sudden, you have no idea where you are, your customers owe you money because you haven’t done the invoicing, and you are so frustrated you just want to quit. Sound familiar? I know the feeling; been there, done that. Smart business owners know they can’t do everything alone. Unless you are extremely organized and enjoy working with numbers, you should think about outsourcing your bookkeeping. If bookkeeping is something you enjoy, then you need to hire someone to run your machine.


Too many business owners spend their time doing what they are not very good at simply because they don’t know how to go about finding someone to help them.


Where do you start? By asking your accountant for referrals. You don’t need a full-time employee to do your books, so a part-timer is your best bet. There are also bookkeepers with their own small business who are always looking for new clients. Since they are accounting experts, they can help you with many tasks, including giving tax filing advice. Interview your prospective bookkeeper just as you would an employee. Ask for a resume and references, and make sure you check them out. Since this person will be handling your confidential records, you want to feel comfortable with the candidate and confident that you’ve found someone trustworthy.


Depending on your location, expect to pay between $15 and $50 an hour for a bookkeeper. Don’t just hire someone who offers the lowest rate; remember, you get what you pay for. A more experienced bookkeeper will cost more, but will be able to give you valuable input to help organize and streamline your business. You’ll likely wind up saving money in the long run.


If you have any reservations about a prospective bookkeeper, go on to the next candidate. Take your time to find the perfect person for this extremely important position, and in a few months you’ll wonder how you ever managed to run your business before. You’ll enjoy your business so much more than when you were sitting there trying to keep up with the books. I haven’t done my bookkeeping for several years. Hiring an outside bookkeeper was one of the best decisions I ever made.


Comments

I have to confess- I hate it beyond words. Writing invoices, checking for payment...or...horror...have to do those taxes...It a time-eater for me. I would like to have someone who is able to do this for our business...But as you say, it is not easy to find someone trustworthy. Hopefully we can find one this year. Taxes will never be fun, but less frightening when all is well prepared I hope.
  - Tuesday, May 5, 2015 (Melanie)

1
  - Wednesday, September 9, 2015 (hsxcbvel)

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