Small Business Owner

When Jimmy decided to go into business for himself, he saw a huge amount of opportunity in calling the shots.  While talking to his trusted attorney about getting his business legally set up, he was overwhelmed with all the rules, paperwork, compliance and possible expenses that were on the horizon.  His attorney told Jimmy to give us a call so we could sit down and figure out what we could do to help make Jimmy’s business life far less stressful.

To start off, Jimmy knew he was going to hire two or three employees to build a sales force and fill administrative needs.  Sydney, a long-time friend and newly appointed office manager, was great at taking care of customers and keeping Jimmy’s schedule straight, but as she told Jimmy, “payroll is beyond my pay grade.”  Our payroll specialists were able to assist Jimmy and Sydney by being the company’s outsourced payroll – this allowed the company to offer direct deposit and other conveniences, while at the same time saving significant time and energy by offloading the compliance, deposit deadlines and other administrative headaches to us.

Sydney didn’t mind doing the daily bookkeeping, but often had questions on what account to post new vendors to or how to record a somewhat complicated transaction when they occurred.  By leveraging our client accounting specialists, Sydney did not have to waste hours hunting down the answer she needed.  Instead, she was able to get regular training and education on the bookkeeping process, making the books more accurate and her much more effective as an office manager.

As the business grew, Jimmy realized that additional capital or debt was needed to take the company to the next level.  We met with Jimmy to go over growth strategies, financing and processes to see what really made sense for him and the company.  Jimmy realized during that meeting that his initial plan would end up costing the company much more over the long run, even though it seemed more appealing at first.  Those savings were reinvested into the business, allowing it to grow even more.

Outside of regular accounting needs, there were strategic conversations throughout the year that involved more than just accounting.  Legal, financial planning, insurance and banking needs allowed us to serve as true advisors and members of Jimmy’s financial team, along with his attorneys, bankers, investment managers and retirement specialists.  Jimmy knew that we were there for him and that synergy between advisors only improved how efficient all of his advisors were.