Anyone with experience buying a virtual accounting firm?

Some of our clients trust us so much that they don't want to see month-end close reports... They want to hear it from us instead.

Your brief reminder to remember why you got into owning a business in the first place. Personal goals should drive business goals.

Most business owners DON'T know how to read a P/L, Cash Flow, or Balance Sheet Statement Let alone WANT to hear us ramble about each line item. It's our responsibility to TRANSLATE

Life is too great to be pessimistic

We're bringing on a Director of Accounting to oversee month-end close and help with strategic operation efforts No more 24+ hour response times, delayed projects, or losing clients!

Honestly, the clients we serve in construction are the most open-minded and receive advice well

My favorite business test: Can you go on a vacation for 2 weeks and have your business continue to run? If you can't, you don't have a business yet. We lost two clients after my recent vacation...

I've said it before and I'll say it again... The most important financial statement is not the P&L sheet. It's not the Balance Sheet (you can "hide" expenses here). It's the cash flow statement.

Cash is king, fight me

Sometimes we have our clients write checks to float cash ;)

Client runs a $11M operation Doesn’t know the difference between cash and accrual Doesn’t care to. Just wants the right team in place. I applaud him for the honesty

We now have 4 clients using Job Costing with my team Could we have a niche brewing??

If you’re starting a new business… Don’t be afraid to discount your pricing at first. The discount is a “marketing expense”. Build up a few positive reviews. Case studies. Get some referrals. Then set steady increases

Proof Chat GPT isn’t capable of handling accounting for your biz. Still not confident in AI bookkeeping either 🤷‍♂️

Filling your sales pipeline is amazing But even more, what's your LTV rate???

We're seeing a potential rate cut in September Our clients are still shying away from borrowing money. The time when rates were 4% and now 14% is still too soon.

Some things I've learned about running a virtual firm: 1. If you hire part-time contractors, your work comes second 2. Time zones are important for project deadlines 3. Loom is a lifesaver 4. Building the operating system is impossible when you wear all the hats

I see too many $1m-$3m companies move heaven and earth to set up accrual accounting when they’d be better off with cash-based accounting at this phase.

If you start a ticketing platform today would you: