We're Not Chandler Bing
We had someone ask us recently... "what exactly do you do?" We love this question, because we're accountants (awesome accountants for that matter), just not the type that people generally think of... it immediately makes us feel like we're stuck in a Friends episode, and we just happen to be Chandler Bing.
Why We Do What We Do
Our website summarizes what we do quite well. If you check our services page you will get a good rundown. But what does it really all mean? Great question...
We started Twenty Eighty because we fundamentally love to help people and believe that small businesses deserve far better in this regard. Our post a couple of weeks ago on risk spoke directly to this point: small businesses tend to fail because they are under-prepared and tend to lack formal planning and processes. While sometimes boring, these items can greatly increase any small business' profitability and long-term probability of success. Unfortunately, small business owners either don't have the budget for expertise in this realm or they simply don't know that they need help in the first place (sometimes you "don't know what you don't know").
What a Good Accountant Can Do
In very general terms, accounting can fill this "knowledge gap" that exists. A good accountant can help in a number of areas in your company, and assist in developing solid plans in that regard. For small business owners that appreciate what a good accountant can do, cost is typically the only hurdle to hiring that expertise. And logically this makes sense: if the business isn't generating enough profit to pay for additional help, it's a simple case of not being able to afford the help.
For all other small businesses, there is a perception issue at play. Stated above, a good accountant can help in a number of areas, but most are pigeonholed into an extremely specific box: all they're good at is completing tax returns (and maybe preparing financial statements... but only if the banks ask for them). This means that they're visited once a year, well after year end, and not fully utilized in terms of their abilities in the least bit.
We could go on for hours about why this occurs, but we won't... it's simply not the point of the post. The point is that a lot of small businesses aren't aware of what a good accountant can do, how they can help... and in the value they provide.
What Exactly We Do
So what exactly do we do? At the risk of sounding egotistical, we break the mold on all levels.
Combining our experience and skill with technology, our team tackles both high costs and negative consumer perception. For flat monthly fees unique to each client's budget (which is why we don't have a pricing page), we provide small businesses with a phenomenally smart financial wizard (a.k.a. controller or a CFO). This person:
- Oversees, re-configures and fixes your accounting system as necessary (this is a whole other blog post topic).
- Utilizes the newly reconfigured system to track trends and gain insights on a real time basis (what good is advice six months after you needed it?).
- Takes these insights and places them into budgets, forecasts and general plans of attack to help you generate more revenue or spend less money (or both).
- Is in continual contact with the small business (we speak to most clients almost weekly) assessing and evaluating how well the plans are working.
In short... we make you a lot more money.
But we aren't transponsters. Sorry.