Measure Twice, Cut Once
There is an old saying that warns one to “measure twice, cut once.” It is meant for carpenters to save both time and money. If you measure wrong, you will have to cut again. If you cut too much the first time, you will have to use a new piece of wood. The same thought process can be used when deciding where to spend your bookkeeping dollars.
A while back, I was trying to assist a small business owner who had already invested in QuickBooks Premier without knowing anything about it. He was trying to embed this software into his bookkeeping system, which would supplant the Quicken product he had been using for years and was quite comfortable with. The client seemed to have a good grasp of his record-keeping vision, but was clearly frustrated in trying to utilize the new QuickBooks product to meet those demands.
My advice to every business owner is “measure twice, cut once.” Do your homework before you spend your hard-earned money. Every small business dollar has a strong opportunity cost, so consider carefully before using them. Investigate by:
- Reading books
- Researching online (read reviews, watch You-Tube videos, ask questions on blogs and websites)
- Seeking professional advice and consultation (hire a bookkeeper to review your books and discuss your goals, then recommend and incorporate the appropriate system for your bookkeeping needs)
Spend some time researching to find the most cost effective product that will meet your actual needs. Ask for referrals from colleagues in the same industry. Be sure to consider future growth and needs in the next five years. You may not need all the bells and whistles that come at a premium. Shop around for the best deals on the products that you choose to invest in. There is a wide gap in pricing among brick-and-mortar stores and various online vendors.
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