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  • Writer's pictureRichard Roppa

How to Drive A Small Business Owner Towards Financial Success

As an accountant or bookkeeper, the weight of your client’s financial success might grow heavy on your shoulders. A well-versed accounting expert with a plethora of stock knowledge doesn’t necessarily make a reliable advisor. To help small business clients navigate a financially challenging industry landscape, bulk up on the following practical tips.

Tip 1 - Separate Personal and Business Finances

Most business owners will list their primary goal as making a profit—but they won’t always account for intertwining finances. Though the majority of start-up funds can be out-of-pocket, mixing finances can lead to a lack of organization and one’s eventual downfall. Advise your client against removing the boundary between the business and personal cash and instead focus on crafting a workable budget.

Tip 2 - Encourage Business Banking

If your client is currently housing business and personal finances under one roof, it’s time to evict the former. Redirect your clients towards small business banking, which will allow them to access an overview of their financial health during any given time. Not to mention, they can avoid the complex implications of legal and tax issues that involve mixed accounts.

Tip 3- Secure a Loan

When it comes to keeping one’s doors open after a long-awaited launch, business loans can be a lifesaver. For seasonal businesses impacted by lockdown restrictions, loans can help operations recuperate in time for the next busy season.

Not every client will know the ins and outs of securing a loan. Thus, the information you provide can make the difference between your client bridging the gap or falling apart.

Tip 5 - Review the Necessary Documents

Every accountant knows the horrors of paperwork. If your client is juggling between acquiring a new office space, hosting a charitable event, or installing new equipment, lending an extra set of eyes can provide instant relief. Doing so can ensure that your client is receiving the appropriate coverage or signing off on a lucrative agreement.

Tip 6 - Explore Growth Points

As a trusted partner, your client will one day—with your help—want out of a constant routine. Amid dealing with expected challenges, clients who wish to work towards expansion must first review their financial health. 70% of accountants will incorporate growth into their strategy as time goes by. As such, you can work towards opening a second business location or providing a new service.

Tip 7 - Have Some Say in Marketing Efforts

Marketing advice may not be within your realm of expertise, but staying on top of advertising trends has a lot more to do with numbers than most business owners think. The better you tweak their marketing budget, the more they’ll see a return on your investment.

Tip 8 - Arrange Personal Finances

If you’re already spearheading your client’s business finances, why not lend a hand with their household budget? By keeping all their financial holdings in check, you can better advise them on monetary decisions that may or may not be worth the risk.

Tip 9 - Get Ready for Tax Season

Everybody loves a surprise—except during tax season. Keeping a close eye on your client’s cash flow and deadlines eliminates any room for error.

Tip 10 - Develop a Succession Plan

Hardly will a business’ finances remain static throughout the growth period. Eventually, your client might consider selling the business, planning for retirement, or passing it down to future generations. A succession plan that takes into account the size of the operation and other nuances can place the organization in the best possible position before being handed off.


More than individual taxpayers, small business owners will likely seek longer-term relationships with accounting experts such as yourself. To allow a business to flourish is to mitigate your success as well.

Whether to improve your coaching strategy or link up with potential clients, Quasar Cowboy can help get you there. If you’re on the road towards becoming a Xero or Quickbooks advisor, we might be the extra push you need.

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