Business managers and owners are good at what they do, including creating products and services, selling them, serving customers, and more. However, the accounting needs of the business, though critical, can often be distractions for many business operators from the delivery of products and services and managing customer relationships.
Some examples of how those distractions may affect the business include:
*Creating excellent products and services is what the business operator does extremely well, BUT the lack of information on the cost of producing those products or services may distract from creating the quality desired.
*Development of the business infrastructure (i.e. facilities, personnel, technology) to be able to deliver products and services is a focus of the business operator, BUT the inability to determine the financial impact on the growth and profitability of the infrastructure may distract from creating the most effective processes and procedures.
*Identifying potential customers, making the sales pitch, and closing the deals may be a natural talent of the business operator, BUT the lack of information on gross margins and breakeven points may distract the operator from thinking through effective and profitable pricing structures.
Critical to business success is the access to accurate and timely financial information that is the result of effective accounting processes and procedures. Business owners and operators may be extremely skilled and gifted in operating their business, but the lack of a great accounting and finance team to provide the information needed may distract the business leader from optimizing their abilities to succeed.
Crosslin Accounting and Business Solutions (ABS) provides the expertise and experience in accounting and finance leadership, which allows business owners and operators to excel in what they do best. Would you like to explore how we may minimize your accounting distractions? Contact Mark Myers, Director of ABS, to discuss these and other accounting and business solution issues (615-320-5500 or mark.myers@crosslinpc.com).
