Why do entrepreneurs need a Financial Coach to have prosperity?

The self-employed and companies hire the services of a manager or tax advisory to take the accounting, tax and labor, essential figure in most cases. In many cases, it is the only financial management of the company, because nobody takes care of it. However, the service of the tax advisory that they develop is not enough, it does not cover all the real needs of the management of a company or activity. There are indications that make it clear that they also need another service to know the real situation, not just complicated accounting and tax tools that the Administration requires. What are these signs? Here I present you summarized:

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- Sometimes the accounting reality is not exactly how they paint it in the accounts (there are no words).

- Sometimes the economic activity begins before hiring the manager, since some entrepreneurs register the company or its activity (self-employed) when they already have a volume of business that justifies it.

- The accounting rules are complex, to understand the financial results of the company itself requires some knowledge that not everyone has.

- The results are not obtained monthly in most cases, if not quarterly and annually.

- The control is done a posterior and therefore, sometimes it is too late to make some important decisions for the business.

- The results do not reflect the real numbers of the company in many occasions. There are amortizations, raw material, etc. that is accounted for in a way but that perhaps does not adjust to reality.

Conclusion: there is a difference between reality and taxation. It is necessary, therefore, that someone deals internally or externally with controlling the financial situation of the company.

How can a Financial Coach help a self-employed or small business?

A Financial Coach provides added value in the economic management of the business, helps to plan finances and achieve financial objectives in an easy and accessible way. Help therefore to:

•  Most importantly, create (or optimize) and maintain a control system in small businesses and freelancers with simple tools on which to rely for decision making.
•  Ensure that the client complies with the basic rules. There are many erroneous beliefs, bad habits, mistakes are made in economic management because it is understood that it is the right thing to do, because many entrepreneurs do it, because it has always been done that way ..., but this does not mean that it is the most appropriate.
• Help the client in making decisions. In any business you have to make decisions and for that, the Financial Coach as an external person and with your experience can give good feedback.
• Explain to the client how some things work. They do not teach us in many cases in the Schools, University, Business Schools the basic norms with common sense or if they teach them, there are people who find it difficult to understand them.
• Help the client in some negotiations such as negotiations, related to financial education, etc.
• Maintain motivation, essential for the success of the process.

Advantages of hiring a Financial Coach for a small business or self-employed

- To have a better organized company both in the economic part and in the other areas due to the optimal control of the company.

- Smarter company since its actions are going to be based on the real situation, the rules will be fulfilled and a system will be created (a business, not a self-employment).

- Greater profitability: due to the optimization of expenses, these cease to be a problem, so you get peace of mind and focus on what really needs to be focused, work.

- Greater prosperity in short.

Also Read: 

• How to Get Rid of Debts
• Importance of Budgeting and Targeting expenses
• How to Reduce Your Expenses

If you are an entrepreneur:

- committed to changing your financial situation and you dream of living in another way, but you do not know how or have tried everything and you do not get results

- willing to work to get that change

- you want to learn to create a heritage that brings stability and prosperity to your business

- You want to expand your knowledge of financial education to make smarter decisions in your day to day

Then, you need a Financial Coach. Contact without obligation

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