Is Now the Right Time To Invest in Your Financial Team?
As we navigate these constantly changing waters, we, as financial executives, feel that we need to be available to you more than ever. As production slows, workers are encouraged not to come in, and businesses get redefined as “non-essential”, it’s your accounting team that’s going to keep an eye on the financial health of your company during this difficult time.
One of the most vital parts of the Pivot Process is what we call The Assessment.
What is The Assessment?
The Initial Conversation. We start every project with a verbal conversation about your company history, your goals, and your pain points. Every assessment follows the same process, but our conclusions are customized to get you to your company goal.
The 7-Day Assessment. Our team takes a full week to dig into your books from two perspectives - the analytical oversight viewpoint of a CFO, and the detailed day-to-day viewpoint of a bookkeeper. By looking into things from these two angles, we’re able to do things like:
see where improvements can be made in your team
establish potential cash flow concerns
offer ways to provide more detailed financial reports to you as an owner
review options available to increase your net income
provide various budget and profit plans to keep your company sustainable
The Assessment Meeting. After our team has completed our assessment, we draft together a Client Assessment Report detailing what we found and how we can help. We’ll discuss this with you in detail, provide a timeline, and with your approval, get started on our action plan (or what we call “Renovation”).
How does this help you right now?
Ask yourself these questions:
Do you trust your financial reports?
Do you have a projected cash flow for your business as it is right now?
Can the income you’ve received in quarter one sustain your business during this pandemic?
Have you reviewed your expenses for practical ways to cut back?
If any of these questions ring true for you, then this is the time to assess. Creating financial reports you can trust right now is essential as the economy makes adjustments during the next few months.
Additionally, by teaming up with us, we can keep you apprised of any new government provisions and programs that your company can benefit from, such as the Paycheck Protection Program. We’re staying on top of these things so you can maintain focus on the big picture.
If you’re not 100% sure about your financial books, your accounting team, or if you simply need financial advice to get through the coming months, schedule a consultation with us today and let’s help keep you on track. This is not the time to navigate blindly or put off addressing any pain points. Your financials are the foundation to sustaining your business - don’t let cracks keep you uncertain about the future.
We’re here to help.
Good luck entrepreneurs.