1. Predictability
If you're gonna be one thing with your business finances - be consistent.
Consistent in where you open bank accounts, consistent in how you get paid, consistent in how you pay vendors. Consistent in everything.
This principle yields not only peace of mind, but it also typically yields cleaner, more predictable financials. If you want to see if an invoice has been paid, for instance, you have one bank to login to, one invoicing methodology to check, and one dataset to check for your customer.
Be consistent, it will pay off.
2. Process
As a service-based business, staying on top of all of our work and clients is important (obviously).
In order to do this, we use what's called a "practice management" software. This software enables us to have a repository of all clients, create templates for tasks, and designate which team member completes which task.
We continue to invest in the most cutting-edge practice management software to ensure our clients receive the best service and enjoy all of the benefits of scale.
3. Partners
Strategic partners are important in business...really important.
We had a prospect call in needing tax support and bookkeeping. Although we do not offer tax support, we have a select list of vetted tax preparers we can turn to at any moment with not only questions, but business.
Being able to lean on these partners when a client urgently needs not only bookkeeping but tax support as well makes triaging the situation and alleviating client concerns that much more impactful.
Find who your strategic partners are, make sure they're up to your quality, and lean on them.
Until next week
