Hiring an Accountant

Don't assume only big companies need the services of an accountant.

Accountants can help you keep an eye on major costs as early as the start-up stage, a time when you are probably preoccupied with counting every paper clip and postage stamp. Accountants help you look at the big picture.

Even after the start-up stage, many business owners have no idea how well they're doing financially until the end of the year, when they file their tax returns. Meanwhile, they equate their cash flow with profits, which is wrong. Every dollar counts for small-business owners, so if you don't know where you stand on a monthly basis, you may not be around at the end of the year.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need