If you run your own business then you have the option of using an accountancy firm to manage the financial side or doing it yourself. Depending on how large your business is and how complicated may mean that you will struggle to do all the accounting yourself. You may have employees and therefore also have to manage a payroll.
There are a huge number of bookkeepers and accountancy firms out there that will do as much or as little as you want them to do. You may wish to do all the accounting yourself but then have them audit you every few months to check that you are doing it correctly or you may ask them to manage the whole thing, so you literally send all your invoices to them for them to input. They can also manage VAT returns as well as personal tax and P11D’s. Obviously, the more work you ask them to do the more you will be charged, but this can often free you up to allow you to manage and run the business as you need to so can often pay for itself. Why not get a quote and find out what an accountancy firm can do for you?
Many people say that it is their dream to have their own business and be their own boss but it is not always as easy as it sounds. To be your own boss you need to be able to be focused and to be disciplined to work as much as you need to. This is especially true if you are going to be working from home as you will often find a hundred and one distractions which can easily take you off task. It is a good idea to have a space in your home which is only used for work and which you can go to when your working day starts. You can then give yourself a lunch break and come away from the room and return after. This will mean that you can get all your work done when needed without having to try and work late at night or weekends if you don’t wish to.
You will also have to be responsible for keeping an eye on your finances, your incomings and outgoings and unless you are going to pay a bookkeeper or an accountant, all of your tax paperwork too.
What makes a good manager? As a manager yourself, or moving up in to a management role you have probably already asked yourself this time and time again. There are so many different ways to manage a team or another member of staff that it can be hard to put your finger on exactly what works and what doesn’t.
Research shows that what makes is a good manager is often linked to how flexible they are and how they can adapt to different situations. As a manager you will have to often make decision quickly but also fairly. You need to be assertive but also know how to listen and know when you need to be firm.
Different management methods are used at different times and even some that seem harsh, can be effective if used at the right time. For example, a manager who is very controlling and likes things done in a certain way, who is very strict and shows their authority can be great in a crisis and in situations when order is needed quickly.
A manager who allows everyone to have their say, often compromises and can seem as a bit of a push over may be good in a situation that is getting out of hand and needs calming down a bit.