Recently, the professional skater Tony Hawk addressed the AICPA (American Institution of Certified Public Accountants). There Hawk discussed how his risky career coupled with accounting. And the truth is Hawk has had ups and downs. It is important to notice that those ups happened when he considered his accountant’s advice. Hawk may not have relied on his accountant in the past, but he certainly runs everything by Sandy now. One business venture that collapsed involved expensive denim jeans which ended up being too costly to make a profit. Hawk eventually had to sell the company at a loss.
Now Hawk jokingly calls his accountant, Sandy, the “fun police” which is how accountants can come off. But, remember that your accountant is there to look out for you and your business. It is not the goal of accountants to ruin ideas/dreams but instead to make them possible. Hawk noted how he was really excited to go on a tour but an accountant on the project suggested to push the date back. In retrospect, Hawk was grateful for the change because it led to a smoother timeline.
Now, this post is not to shame the risk-takers. As a matter of fact, Hawk suggests the complete opposite, take risks, just run them by your accountant too.
Learn more about Hawk’s accounting ventures.
Check out Hawk’s guide for small business productivity!
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