Page 195 - Paulisms: Gold Nuggets for Small Business

any accounting. The licensee was a struggle from day one and wanted to either do it themselves as much as possible or get a relation to do it. Both big mistakes. They blamed the accountant for the lack of getting P&Ls every month. But it actually cost them more by not listening to the expert advice of the need to tidy their accounting up. In the end, the accountant had to sack them. They just shouldn’t have been in business and needed to go and get a job! For the accountant it was also a case of the 80/20 rule of the 20% taking 80% of their time.
On the other hand, a contractor who was just starting out took on the most expensive monthly level that my accountant was offering. No hassles; strong accounting. He listened to expert advice and his business is going gangbusters.
There are some brilliant lawyers and accountants around and its worth paying for their smartness. I cannot help being extremely impressed by their smarts. They are really good at the end of the day at sorting your issues. Pay for it, as it will take a lot of stress away from you! Think long term, because if you don’t have it right, it could bite you many years later.