How To Leverage Your Team Of Financial Experts

Meet Stewart. He’s our fictitious entrepreneurial friend who owns a web design agency. He’s successful, he’s hardworking, and his business is growing. Unfortunately, Stewart is also his own accountant, which means he struggles to find a balance between bookkeeping and running a business. Like many business owners, Stewart makes novice accounting mistakes due to his lack of accounting expertise.

The Problem: Anxiously, Stewart is sitting by his phone waiting for a call from a new potential partner. It rings. It’s him. Unfortunately, he sounds frustrated because Stewart still hasn’t sent over the KPIs he requested two weeks ago. Stewart assures him they’re on the way but gets off the phone shaking his head. “KPI? What’s that? I’m an idiot.”

The Solution: Outsourced accounting departments have expertise across industries and can provide beneficial benchmarking data that can help grow businesses. Although many business owners believe that accounting is something they should and can do themselves, many have failed to really manage their bookkeeping and accounting. The result? Missed opportunities to leverage the strategic power of their own balance sheets.

Outsourced accounting teams have strong relationships with banks, venture capitalists and angel investors that can provide access to capital as most small businesses find they need at some point in their company’s lifespan. Business owners are smart to partner with accountants that can also act as their strategic partners.

Stewart missed an important business opportunity because he didn’t have someone to help him understand his finances. Don’t be Stewart. Work with an accounting team that can advise you and help you grow your business.

Looking to learn more about KPIs? Download our Guide to KPIs to understand what KPIs you need to be focusing on for our business.

Accountfully offers outsourced accounting services nationwide, with offices in Charleston, SC and Nashville, TN.  If you would like to see how outsourcing your accounting can work for you, tell us about your business and we will gladly schedule a chat to discuss more.