Drop your pen, exit that spreadsheet, put your calculator away, and look this way. Do we have your attention? We’re here to tell you a secret that you probably already know. Ready? Here it is…
Doing your own bookkeeping is detrimental to your business.
We’re not just referring to you specifically. Any business owner should never be doing their own bookkeeping. Even if they’re fluent in bookkeeping processes. Even if they’re 100% sure they know what they’re doing. Even if they’re a professional bookkeeper or an accountant. DIY-ing your business’s bookkeeping is a recipe for disaster.
Why? First of all – keeping financial books accurate and up-to-date should be a top priority in the life of a business owner. If you plan to scale, exit, and sell your Amazon business for an attractive offer – you need to make sure your numbers are clean and accurate for your buyer’s appreciation.
Now, tell us – do you honestly think that out of all the responsibilities you have as a business owner – that it’s realistic for you to keep track of every financial decision and action you have to make? We’ll save you hours of analyzing by answering our own question – it’s not realistic. You can’t do it on your own. And you’re not meant to. What any smart entrepreneur will do is delegate the bookkeeping and accounting to a professional – so they can focus on more important things.
“Any time you’re doing your own bookkeeping is wasted instead of doing something else…” – that’s a direct quote from Nathan Hirsch, who sat down with Amy to talk about the services of his company, eComBalance.
EcomBalance is an online resource for professional bookkeeping services tailored especially for eCommerce businesses – Amazon, Shopify, eBay, Etsy, Walmart, and others. They have helped a variety of businesses across the USA balance their books and manage their finances – which eventually led them to a successful exit with a huge sum in their pocket. And it all starts with bookkeeping done right.
Nathan and Amy chat about eComBalance in the featured video below: