Every business owner makes a mistake at some point in their entrepreneurial journey. Sometimes, these mistakes are small and easy to fix, but sometimes they can be very costly. One of the most common – and most expensive – mistakes that many new entrepreneurs make is hiring the wrong person on their team.
I am an experienced businesswoman and I have been running businesses since 2004. So, I have extensive experience with hiring the right people.
But, I am also human. Sometimes, I make mistakes.
In this episode, I share how making a mistake by hiring the wrong person cost me $50,000 and took a year to fix. I explain how messy books eventually led to sounding an alarm to my local tax authorities, how I finally realized I hired the wrong bookkeeper for my business, and the steps I took to fix the problem. I also explain the importance of basing your hiring decisions on the person’s qualifications and skill instead of your budget.
“A sloppy bookkeeper is not a good sign.” - Sigrun
In This Episode of The Sigrun Show:
- How hiring the wrong bookkeeper can be a costly mistake
- Why I hired a bookkeeper to manage my business books
- Why I began using Paypal and Stripe to process invoice payments
- The importance of knowing the details of your business books
- How hiring the wrong bookkeeper led to my business being audited by tax authorities
- Lessons I learned about hiring a qualified bookkeeper
Key Takeaways:
- Review your business books often to ensure they are accurate.
- Hire a qualified bookkeeper.
- Remember: You get what you pay for.