Many of us have seen the sobering statistic that 50% of all small businesses fail within the first five years, according to the US Small Business Administration (SBA). The good news is that there are specific steps that you can take like brushing up your accounting skills to ensure that your business continues to be a success.
While it may be true that many businesses fail, the very fact that you are a creative professional gives you a competitive edge. As more hard skills like claims processing or invoicing become automated, the higher level skills like creativity are garnering more attention.
Does Creative Have to Mean Flaky?
We all know that creative types come with a certain reputation. Creative people can be colorful, fun, and adventurous; creatives are the first guests that we invite to the party. However, we have to recognize that sometimes creatives have a reputation for disregarding the time clock, running late for appointments, or not paying bills on time. As a creative, your strengths may not lie in an analytical skill set, but that does not mean that you or your business are a lost cause.
”Creativity is the skill of the future.”
Anna Powers, Forbes Magazine, April 2018
Get Back to the Business of Creating
As a creative entrepreneur, you are expected to wear a lot of hats to keep your successful business running smoothly. The more time you spend chasing business receipts or toiling over creating an invoice for services, the less time you have to spend on being creative. And that’s the whole reason why you became a creative in the first place.
To stay successful in your business, you have to have to time create. Whether you are a graphic designer, a writer or app creator, the more time you have to focus on your strengths, the bigger the payoff is for your business. We all know that cash flow, and the successful management of it, can often make the difference between being a successful business - or having a nightmare on your hands that will keep you awake at night.
Many Have Switched from QuickBooks™ to Xero™
We aren’t here to tell you what success looks like to you, because you already know. Going hard at doing the things you really enjoy, that’s the joy of running your own business as a creative entrepreneur.
Like you, many other creatives have joined the trend toward automating mundane but important tasks like accounting. The global accounting software market is expected to reach $12 billion by 2026. You may want to note that the number of subscribers of Xero™ accounting software has grown by 24% just in the last year.
There are several advantages that Xero™ accounting software can offer your business, including:
- Cloud-based and secure, for flexibility and data privacy
- Free conversion from Quickbooks tool
- Over 1 million Xero™ subscribers
- Control your inventory
- Fast reconciliation of bank statements
- Accurate cash flow in real time
- Create purchase orders and invoices
- Stay up-to-date on EU data privacy requirements
- Keep track of your business compliance
- Create reliable and fast quotes
Online Xero™ Training Gives You Freedom
With Xero™, you get a real-time view of your cash flow so you won’t be playing a guessing game. Having an exact and accurate cash flow will give you the competitive edge that you are looking for to thrive in today’s competitive business market. With the online Xero accounting training courses, you can get the training you need, while still having the time to make your business a success.
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