Does Bookkeeping Keep You from Working On Your Business?

We hear it time and again from business owners.

“I need to keep my arms around my business, so it’s important that I do the bookkeeping myself to make sure I’m on top of how my business is doing.”

We get it. The same argument could probably be made (and you probably made it) when you first opened your doors for business. You did everything – that is, until everything was no longer getting done. Things started slipping through the cracks or they were not being delivered according to your high-quality standards.

So, you hired an assistant, or a laborer, or a “do-er” of some sort who was no longer you.

That gave you the flexibility to work on the higher-level things or perhaps get more business in the door. And, so is true when you think about hiring a bookkeeper.

While the basic accounting is easy to do, it takes you away from working on your business. Meanwhile, your accounting and tax planning has likely become more complicated over the years you’ve been in business.

I read recently how the CEO of meal delivery company out of Miami ran his company for five years without a bookkeeper before hiring one just three months ago. The bookkeeper found expenses and assets that were co-mingled, duplicate records of employee purchases, and other common mistakes. Fortunately, she was able to clean everything up and get them back on track. This allowed the CEO to get “out of the weeds” and look at his business from a higher level so that he could make process improvements that impacted the company’s bottom line – much more so than he could’ve done had he been working on the books.

The truth is, you’re probably not being as strategic as you could be if you’re always in the weeds. Outsourcing bookkeeping services is widely available in today’s marketplace. Hiring the right one is of utmost importance.

Back in 2011, we set out to build a company that would serve business owners in the places they were most vulnerable – their financials. The Minerva Group has done just that by creating a level of trust that only comes from consistently responsive service, attention to detail, and providing timely, accurate information to our clients.

We work with companies whose revenues are between $500K – $10M. We work with business owners who live and breathe their businesses but desire to get out of the weeds so they can be more strategic about growing their companies. That’s where we can help. We’d welcome a chance to talk with you to see if we’re a good fit.

Contact us here.