Great news! I’ve started making some money. The (I guess) bad news is that I don’t know what to do with it or how long it’s going to last.
Congrats on making some money—it’s an exciting business owner moment when you feel like the hard work is finally paying off. But before you celebrate that success by booking a tropical vacation, let’s press the pause button and consider how you got to this point. We’ll want to look at what you’ve been up to this last year and the cost of running your business.
Gathering historical data points is one of the first items of business we conduct with clients. It is an important step because it puts present cash flow into context—you can’t plan for the future without understanding the past. Once we comprehend the costs associated with running your business, we build a budget to create clarity. And when it comes to financials, clarity is a must.
While you won’t need to understand every number on the balance sheet, you should work with a team that can present your financials in ways that result in smart business decisions. Wondering when you should hire another employee? Not sure how to price your services? Many business owners have these questions, but few are qualified to answer them, which is why partnering with an outsourced CFO is a smart option.
At Accountfully, every engagement is a strategic collaboration. We work with our clients to implement processes and a financial infrastructure to help them grow with confidence. We answer questions, plan for the future, and prepare them for success. Have questions?