Loading...
Answers
MenuWhat questions are generally asked by Corporate Accounting Firms at first meeting?
Answers
sounds like you don't trust whoever you spoke with - go with your gut and move along. You need great lawyers and accountants behind you but there are plenty out there that don't remotely get canadian start up land. The answer to your question is they are trying to understand your setup and those questions are totally fair game as its all related to tax etc.
In interviewing accounting firms for my coaching practice, I asked a series of questions about how they do business, who their best accountant would be for my type of business etc.
The key here is to build a relationship with the accountant as well as the firm. Simply going by recommendation without seeing if you are a good fit can lead to issues (I know, I have been there!) You will need to feel comfortable asking questions, seeking advice and input into the business. An accountant can be a helpful advisor if you have a good foundation. The question about proprietary information should then become a non-issue.
I would be happy to role-play this interview/conversation with you and discuss any other follow up questions you may have.
Good question.
Not many questions need to be asked when it comes to accounting. Accountants really need two things: access to your accounting software for the general ledger, and access to copies of your bank statements.
They can figure out almost everything they need to with those two pieces of information.
In terms of keeping things proprietary, there's not much we withhold. They obviously need to know all the numbers to be able to work with you, and it can be helpful to keep them apprised of strategic plans, so they can advise on cash flow if they know it may be tight in the future.
Related Questions
-
How do you get your first customers for a consulting business?
Back when I started LinkedIn wasn't as huge as it is now. I wish it was. I didn't have a large network and those networking sessions NEVER brought me any clients. I used to go to all sorts of them hoping to get clients. There were a couple of nibbles here and there, but never anything serious. The only thing that helped was reaching out DIRECTLY to people in my target market. That meant cold calls and cold emails. I'd sell myself while thinking about their needs. Once I got a few bites I'd build good rapport by keeping in touch, asking questions, repeating back what they were saying so that they knew I was on the same page and kept my promises. If I said I'd call them back next Tuesday at 2:15 I'd do so. Eventually I built trust with them without having a network, or an insane amount of experience. Oh and the most important thing about consulting is to LISTEN. When those first clients notice that you're truly listening and you're not selling the cookie cutter solutions everyone else is trying to sell them that's when you got them hooked. You start to understand their problems, fears, and see through their eyes and not just yours. A network will help, but in the beginning just good 'ol salesmanship will get the ball rolling.JC
-
What's the best way to approach a Fortune 500 company regarding a business development opportunity? What people, process, tips do you recommend?
The best thing to do to start any kind of sales or relationship building process with a Fortune 500 company is to recruit willing champions of you and your company. The good thing about Fortune 500 companies is that there are *lots* of people who you can potentially recruit. Many of them are active on Twitter and LinkedIn. I've successfully sold to Fortune 500 companies this way and I'd be happy to share relevant tips with you.TW
-
What would be a good answer for describing the size of your company to a potential prospect who might consider you too small to service their account?
What an awesome question! Businesses are running into this issue more frequently that ever, good news is, it can be done. Having worked on projects with oDesk, Fox Television and Wikipedia and having a very very small staff, it's certainly possible. Here's how I say it in our pitches to larger organizations: "Tractive West provides tailored video production services to organizations of all sizes. We have developed a distributed workflow using the latest digital tools. We leverage our small creative and management team with a world wide network of creative professionals, that means we can rapidly scale to meet the demands of any project while keeping our infrastructure and overhead lightweight and sustainable." Cheers and best of luck.SM
-
Where can I find programmers willing to join a growing mobile start up for equity only?
You won't find anyone worth adding to your team willing to work for equity only, no matter how compelling your product and business is. The realities of the talent market for mobile developers anywhere is such that a developer would be foolish to work only for equity unless they are a cofounder and have double digit equity. Happy to talk about hiring and alternatives to full-time hires.TW
-
How do I attract talent to a startup?
"Just" a startup? Most technical and design talent are more attracted to startup opportunities than working for big companies. So the issue is not that you're a startup, the issues are around how you make yourself the most attractive startup to the talent you're trying to recruit. The best way to do this is to be able to articulate why you're already on the path to being a very successful business. Selling top talent on your company is often the same as selling investors. The more that you can demonstrate that you already have the right ingredients for success, the higher a likelihood that you're going to close your recruiting pipeline. Obviously, depending on the cash you have in the bank and expect to have in the bank will impact what kind of offer you make, and the more that you can mitigate the "going concern" risk, the more success you'll have in getting an offer accepted, but it's ultimately about convincing the talent that joining you and your team is better than any opportunity they can take, including starting their own company. If you can't be competitive in your own backyard, I would look at hiring remote workers or look at relocating talent from less competitive markets to your own backyard and selling the lifestyle advantages of your particular city. Recruiting top talent is a significant part of any startup CEO's job. I'd be happy to talk to you about what I've learned and share some of the tactics I've used and seen others use successfully.TW
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.