Are you looking for a business advisor or an accountant? There are 5 fundamental things you should ask them before you engage their services.
1. Does the accountant understand your business?
Every business is different. They need to be able to walk the walk, talk the talk and partner with you for your business.
2. Put them on the spot.
Question and interview them. Ask them, “Tell me 3 things you think I could do to change my business or increase my profitability.” See what they say.
3. Ask your accountant: Who will do the work?
Are they doing the work 100%? Do they have people working for them?
If he’s doing the work but he’s very busy, he might not get back to you that fast. If the juniors are doing it and there’s no oversight you might not have that engagement.
Make sure you have good engagement with the principal and with the working staff.
4. Do they have people in your industry as their clients?
They’d know the nuances, the tidbits and the industry regulators. They’d have good knowledge about the best way to make it happen.
5. How often should you meet?
If they tell you 24 times/year, depending on your business, that might be overkill. If they tell you they’re going to see you 4 times/year, that might not be enough.
Identify how you’d feel comfortable to interact with the principal and the office staff.