The Fear Factor

The Fear of Change

So often, businesses get very set in their way of doing things, and accounting is no exception. Maybe it’s a family member helping you out with the books, or a part-time bookkeeper you’ve had for years that just help out when you need.

Change can be big and scary, but as your business grows, you and your processes need to as well. Making a shift in your accounting processes can seem difficult and overwhelming. So is it even worth it?

Absolutely it is! If you’ve outgrown your accounting you need to adapt. Don’t let the fear of change mean that you’re setting your business back. Luckily for you, here at Ascent we specialise in small businesses. Getting help and advice is always the safest and smartest way to motivate positive change. So get in contact if you need a little friendly push!

The Fear of Information

This may seem like a surprising one, but the fear of information is a big and real issue plenty of businesses face. As fulfilling and wonderful as being a business owner can be, as you start to grow, it is easy to become protective and concerned when you need to start handing responsibility over to other people.

One way this can affect your accounting is not wanting to face the reality of your books. Sometimes it can feel like not knowing is a bit easier than getting into the nitty-gritty of it all, especially because it has the potential to reveal hard truths mistakes and flaws. Turning a blind eye may seem like a good idea, but in reality, it can be very problematic.

With this being said, businesses can fail if their accounting is inaccurate, and terrible decisions can be made on incorrect information. The fear of information can be very detrimental to your business, and although understandable, it is something well worth tackling. With the right help, information and processes in place, you’ll find more peace of mind than letting things slide and ignoring them.

The Fear of Expenses

Getting good and effective help with your accounting can mean added expenses. And this is often enough for small business owners to want to avoid it. We completely understand, and this is a common and reasonable fear. However, you get out what you put in. If you don’t invest in professional accounting, there are so many more issues ad problems that can arise that can cause more of an issue in the long run. It can seem arbitrary and unnecessary, and an easy expense to avoid. However, with the right systems and assistance, you can run more efficiently and even save more money.

Accounting isn’t every business owners cup of tea – we get it. But avoiding the important stuff because it scares you isn’t always the best business move.

But don’t worry, you don’t have to face your fears alone. Get in contact, we’d love to help!

Phone: 08 6336 6200
Email: info@ascentwa.com.au