I’ve always said that small business owners are the hardest working individuals I know. Growing up, my Dad was a perfect example of just how much time, effort, sweat and money went into owning your own business. So, I know now that it was no mistake that I ended up working as a Small Business Banker for most of my career. It gave me much satisfaction knowing that, as a banker, I could offer these business owners just about any type of financial product or service they needed to be successful. Everything that is, except, the day to day bookkeeping and accounting support which is so vital to a business’ overall success. This is what I refer to as “the missing link”.
I now spend my time actively engaging in conversations with small business owners; informing them on the value and importance of what accurate and timely financial information can do to help them manage and grow their business.
Why is it important for a business to maintain timely and accurate financial information?
- It reflects the true health of a business.
- It provides clues to help effectively manage a business.
- It allows business owners to make sound business decisions based on accurate numbers.
- It helps to identify the development of positive and negative trends.
- Recognizing these trends helps to forecast and prepare for future goals.
So, next time you’re talking to a business owner who is complaining that their cash flow is hurting, or they can’t seem to make the profits they expect, be sure to tell them that choosing the right outsourcing firm is critical to getting the information they need to manage, run and grow their business.