Optimizing business processes sounds like a really dry topic, doesn’t it? Let me tell you a story to illustrate what it really means: in the land of accountants, a “shoebox” client is one who walks in with a very disorganized wad of receipts and papers that have been stuffed into a shoebox.
(Go ahead – if you’re guilty of this, raise your hand. No one will see.)
It was springtime and this plumber had just gotten done doing his taxes. The bill was huge, it took forever, and the plumber confessed he wasn’t sure he was getting all the deductions he was supposed to.
“I have no systems for keeping track of my receipt,” he lamented. “They’re all over my truck, in my briefcase, and in a hundred different places in the office.”
“How much is this habit of disorganization costing you?” I asked him.
He cringed before confessing, “A lot. If I had to guess, I’d bet I’m missing many thousands of dollars in deductions. And to make matters worse, I’m not sure I’m accurately billing my clients for all the materials and time I work on a job.”
He sighed a sigh of deep frustration.
Can you relate?
Do you have a sinking feeling that you’re missing deductions, not charging your clients enough, or even just find that tax time is awful to get through because of your disorganization?
I cannot encourage you enough to find the time to get organized by optimizing business processes at your company. Basic systems and good habits will take you a long way in finding money and will definitely save you time in the long run. And your accountant might send you a “thank you” card for NOT being one of those shoebox clients anymore.
Remember my plumber client above? Shortly after we organized all his receipts and papers (several year’s worth), he found out he was getting audited!
Thankfully, because his paperwork was in such good order, he was able to provide documentation for all but a very few of the items the IRS auditor requested. He owed barely a penny, the audit went smoothly, and wrapped up (relatively) quickly. Did he earn back every penny of the investment he made working with me optimizing his business processes?
Absolutely – and then some!
Not sure how to get started optimizing business processes at your company? Feeling overwhelmed with the disorganization? Then NOW is the time to call Your Organized Guide.