There are 3 main problems small business owners face when it comes to bookkeeping:
Behind: they’re Behind on the Bookkeeping & BAS & losing sleep
Blind: If they’re not behind, they’re still flying blind. In the dark about their numbers & what it all means. They don’t understand how to compare their business to their peers (with industry benchmarks), set & monitor targets and ultimately, they don’t know how to optimise for profit or their cash.
Stuck in the grind: they’re stuck working in the business instead of on it. They know that if they could sit down, analyse & plan, they could grow their business but it just never happens.
Strategic Bookkeeping has the power to solve all of these problems. Let me explain how.
Behind
If you’re behind on the books then your number 1 job is to get caught up as soon as possible.
There is no successful business owner who doesn’t know & use their numbers.
DO NOT hire a bookkeeper, hire a Strategic Bookkeeper. Here’s how to spot the difference (when hiring someone to do your catch-up bookkeeping job).
A Strategic Bookkeeper has a process for doing catch up work which involves planning & prioritising so that she can save you time & money
A Strategic Bookkeeper knows how to handle the ATO and negotiate on your behalf to reverse fines, interest & set up nice, management, payment plans
A Strategic Bookkeeper will swap your hard earned cash for a good night’s sleep because you’ll know, from the get-go, she’s got your back & you’re in good hands
A Bookkeeper on the other hand doesn’t have a specific process for catch-up work & this means it’s going to take a long time, cost a lot of money & add to your stress.
Blind
Blind. If you are not behind on the bookkeeping, you might still feel like you are flying blind.
Most business owners don’t understand the numbers or how to use them to grow their business & make more profit and cash.
They aren’t aware that there are industry benchmarks that can help define what their numbers should look like.
They feel like they’re in the dark about their obligations, their business performance and what to do about it.
A strategic Bookkeeper will shine a light on the numbers and make it all clear.
A strategic bookkeeper is interested in using your numbers to move you from where you are now to where you want to be in the future to optimise your business for profit and cash. And this doesn’t happen by accident, she has a methodical approach.
Our 5 step method involves
bookkeeping 101
Understanding the numbers
using the numbers
setting KPIs
monitoring KPIs
And the action we help our clients take centres around operations and habits
Stuck in the grind
If you are stuck in the grind, always working in the business and not on it. Then, hiring a strategic bookkeeper is the first step to change that.
To explain that further I’ll use an example.
Paul runs a trade business and has a few staff. Paul has long struggled with being stuck in the grind, always on the tools or putting out fires or doing all the other jobs that have to be done when you run a small business.
Put another way, he’s 100% reactive, only able to deal with what’s right in front of him. The business is controlling Paul rather than Paul controlling the business. As a result he’s working long hours & the business is not living up to the dream.
We’ve been working with Paul for just over 6 months and even though he has been deep in the trenches of the grind, we’ve been able to help him
create a plan for his business so he knows where he’s going and what he needs to do (and hold him accountable to his plan)
proactively look ahead to the future so he can plan out his marketing activities and know what staff to hire (in advance)
hire administration help & improve his recruitment processes
identify & get smart around gaps in his selling systems
Start on standard operating procedures to truly
And all of this work comes from the numbers because the numbers tell the story of what is happening now & what action is needed to move ahead.
In financial terms during the last Quarter, Paul’s profit was 3 x the previous quarter.
Bookkeeping is a cost, strategic bookkeeping is an investment. Bookkeeping is Numbers 101, which is up to date & accurate accounting records.
Strategic bookkeeping is a 5 step numbers methodology to help you optimize your business for profit and cash. Here’s our methodology:
And here’s how to use our strategic bookkeeping methodology to get cashed up, optimize for profit and build your dream business.
You can access the blogs to our methodology below:
To find out more, simply register for the webinar, take the scorecard or book a call.
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