Feeling like the "Everything Entrepreneur" in your business? It's time to promote yourself to CEO!

One of the most powerful steps you can take in your business is to stop trying to to everything yourself. Knowing when and how to delegate is the key not only to reducing the stress level in your business, but also scaling your business to the next level.

Now, ask yourself this: have you been struggling to keep up with the bookkeeping and accounting in your business, and with mixed results? It might be time to delegate these important tasks.

But how do you know when the time is right to stop DIY accounting and hire a professional?

You might be close to the point where you can’t quite manage everything on your own anymore, but you’re not sure if you’re ready to hire an accountant or bookkeeper.

It’s a tricky spot to be in. Managing everything can be a chore, especially if you’re a "solopreneur" who is doing it ALL, from the keeping up with the books books to the content creation to actually serving your clients.

How do you know when it’s time for support in the accounting department (when up until now you’ve been the accounting department)?

Don’t let fear stop you from getting help. You don’t have to take on tasks that aren’t in your skillset and end up barely muddling through. I’ll share the top 3 signs that you’re to hire an accountant, whether you feel ready or not.

Here are my top 3 signs that you’re ready to hire an accountant…

Sign #1: You’ve been putting off your bookkeeping until you make “more money.”

No matter what your income status is, bookkeeping is essential. Even if your business currently operates at a loss, you need to keep track of your money activity NOW. Here’s why…

Even if you’ve been in the red in previous years, you want to capture that loss and carry it forward into your more lucrative years. Ignoring your profitability and drilling down into the business will only make it grow more slowly.

Another reason to know your numbers: making little or no money does not exempt you from things like filing your Annual Report or filing your 1099s (find out more about the 1099 rules HERE).

So tracking your income and expenses is crucial regardless of your profits. But if you're putting off starting your bookkeeping because you're not making enough money yet, it might actually be a good time to consider getting some outside help (even if it's hiring a friend or family member a few hours a month).

Sign #2: You’re not a professionally trained bookkeeper with an Accounting team to ensure your accuracy.

A lot of us take on bookkeeping tasks thinking that it's going to be a lot easier than it is. (Maybe you even took my DIY Bookkeeping Course and realized this is NOT a skill you want to practice any longer!) What happens when you realize that either you're not sure what you're doing, or that bookkeeping tasks just aren't something you want to do?

First, give yourself credit for taking responsibility for your bookkeeping. But also, recognize that doing it all yourself might end up costing you in the long run.

One thing I’ve learned after 15 plus years of experience is that accounting is a LOT more involved than it seems. Bookkeeping is one tiny layer in a bigger and more sophisticated culture. It’s a language unto itself that takes years to master, and even at that, it’s continuously evolving.

Congress changes the rules all the time. There’s a lot to keep up with, and this alone can turn into a full-time job.

It’s crucial to get a second opinion on your books regularly, especially if you only have time to update them a few times a year. It’s the month-to-month updates and attention that matters the most, so having support in this area makes a huge difference in your financial well-being.

Sign #3: You’re afraid to make more money because you don’t know how to manage it.

As crazy as that sounds, I bet you know what I’m talking about. It’s that moment when you sabotage yourself from making too much money because of the “consequences.” What kind of consequences, you might ask?

I mean “consequences” like making too much taxable income and owing more at the end of the year. How will you manage that money and avoid getting gouged by the IRS when you haven’t found a trusted bookkeeper yet?

But having a reliable bookkeeper or accountant on your side will set you up for the next step. You’ll have someone in your corner to keep an eye on your books and help you safely and securely make as much money as you desire.

So if any of these signs sound like you, don’t struggle on your own anymore.

Let's Keep Going!​