In the complicated world of small entrepreneurs, where the accountancy firm has an essential role, myths, the so-called “urban legends,” almost have integrated into the landscape. This is due to the distorted perception that the uninformed audience has about the start of a business.
For many, entry into business equates to an exciting, rewarding, financially-driven experience. Unfortunately, such “legends” can have a negative impact on economic outcomes, the effects being hard to fix even the most experienced in accounting services .
Entrepreneurs, generally owners of SMEs, encouraged by unauthorized “voices” and enchanted by the mirage of immediate gains, are making hasty decisions, often fatal to their own businesses.
With the support of the Accounting Bureau team, the authorized accountancy firm in Bucharest, we will discover some of the most common mistakes that should be avoided by anyone who thinks of setting up a business:
Finally, we get rid of the bosses
This may be the most common reason amongst small entrepreneurs. As if the boss’s absence equals more freedom or guarantees colossal success … But what about the stress caused by clients and insurers?
Too few take into account the risks of capital investment and the assumption of “full time” responsibilities that do not stand for exceptions. By analyzing this “goal” in detail, it seems that we will not have more freedom, nor will we be less stressed, on the contrary.
We can practice in the field that we like
Often, who starts a business starts by following his passions, which do not necessarily correspond to professional training. But as the company grows, the entrepreneur can also face missions totally different from the field of activity.
For example, there is no need to open our own accountancy firm to get in touch with fixed asset depreciation or payroll. Even the most exciting field can turn into a “mix” of complex tasks that we do not always know about.
There will be no shortage of money
Different people, when they give up the job to create their own business, are making certain ideas. He imagines and even hopes that the new position, the patron, is the safest, quick and straightforward solution to make money.
But most often, financial success is not gaining from one day to the next. Until the money bag, entrepreneurs need to learn how to survive on the market, going through a series of stages where headaches and failures are the order of the day.
It gets an idea, the rest comes by itself
As founders, we imagine that in order to succeed, we get to implement our ideas. But reality confirms that out of the total of companies registered with the Trade Register, too few survive on the market in the next 5 years. And not because of the lack of inspiration.
Whatever it is revolutionary, the simple idea becomes incomplete if it is not accompanied by a “consistent” business plan, in which the accounting specialist has a decisive role to play. Also, we need perseverance to overcome the obstacles that could make it difficult to transform our own business into success.
Any of the previous beliefs, quite widespread among startup owners, may block the growth of companies. However, all these risks are considerably reduced if we take into account the “stories” of the specialists from the Accounting Office, one of the Bucharest accounting firms, for which the clients’ interest prevails.