In my last post I went into depth about how to set the stage for a thriving personal assisting business.
Today I want to talk about one of the most important aspects of being a PA, money, honey.
As a PA, you will need to start thinking of their money as your own.
While they may be able to afford the most expensive item, it isn’t necessarily the best. Do your research as you would if you were purchasing something for yourself. Give them options. Some people automatically assume if it’s the most expensive, it’s got to be the best, and they only want the best. There’s nothing you can do with that.
You will learn quickly how to pick and choose your battles and which ones are worth fighting. Others will want the best, but at the cheapest price. You will need to learn which websites are the best to research specific items.
Most people have a financial advisor and a CPA. Hopefully these are two different people, from different firms who have no previous working relationship. A CPA firm manages your day to day assets and responsibilities (bills, insurance, etc.) A financial advisor handles your long-term assets. I suggest that they are totally separate so there is a checks and balance system. You can never be too careful when it comes to money. Clients should receive monthly cash flow reports that show how much money has come in, as well as what has gone out…and for what purposes.
Be careful about recommending a CPA or financial advisor to someone. If something goes bad, it will reflect on you. Your best bet is to give them three or four names and let them make an unbiased choice.