Imagine an entrepreneur launching a business determined to keep it as small, messy, and unprofitable as possible…
What nonsense, right? Nobody decides to start a business with no goal to profit from it and expand it over time. But here’s the hard-to-swallow truth: without Profit First bookkeeping, you could fit the profile of the entrepreneur described above without even realizing it. And it doesn’t matter how small your business is, if you want it to thrive, your books must align!
Here are 5 reasons bookkeeping is a game-changer for your small interior design business…
1. Behind every profitable business is a great bookkeeper
Think about it, if “Accounting is the language of business,” according to one of the best investors in the world Warren Buffet, then it makes bookkeeping even more vital. Let me elaborate on this….
You see, accounting and bookkeeping are like yin and yang, interconnected and working together in harmony. Accountants rely on bookkeepers’ financial statements. So even if you have the brightest, most skilled accountants on your team, they can’t do their job without a reliable bookkeeper.
As a business owner of a small interior design firm, you have to keep track of a lot of things, finances included. That’s where a great bookkeeper makes all the difference. In fact, this is how a client described working with one of our bookkeepers at AccountSolve:
“She’s that nucleus that keeps the web tight so we don’t have to. Now we make better decisions and know exactly what’s going on.”
But what we do at AccountSolve goes far beyond just tracking your transactions, invoices, and expenses. With our team’s support, you can break free from debt, set aside funds for slower periods, access your profits, and enjoy financial freedom through the Profit First accounting system.
2. The bigger the business gets, the less clarity there can be
As a rule, the larger your interior design business grows, the more challenging it is to stay on top of everything. This new level of operational complexity and revenue streams can make business owners lose sight of things, particularly ensuring that financial information is clear and concise.
But if you have a bookkeeper to hold you accountable, you can always have an accurate up-to-date picture of your financial health and where your business stands financially. What’s more, the team at AccountSolve will help you make more strategic financial decisions when expansion is in the picture.
3. Flying by the seat of your pants is a poor business strategy
“If you don’t understand the details of your business you’re going to fail,” says the Amazon founder Jeff Bezos. In other words, going with your gut may not be the best strategy for your small interior design business. But there is a surefire way to success—statistics, numbers, and data, things only bookkeeping can provide.
We suggest following the bookkeeping path! A simple habit of closely watching your books when you’re a small business can guarantee smooth sailing when you grow.
4. The choice is yours: consistency or paying the price
Many of our clients confess that though their interior design business might have seemed successful, they were still losing a lot of money. The problem was that there was no proper bookkeeping system in place. Losing a good share of their profit was the price to pay for inconsistent financial tracking.
There’s power in consistency. This holds true in life and even more so in the context of money. Most of our clients scaled their interior design businesses by simply keeping their bookkeeping consistent. With simple diligence in tracking income, expenses, and cash flow, you can make more informed financial decisions for your business.
5. Autopilot might work in transportation, but not in businesses
Missed business opportunities, insufficient resource allocation, and financial mismanagement are painful consequences for business owners operating on autopilot. Relying solely on automated financial management is like activating a ticking bomb… it wrecks your business little by little.
Without a bookkeeper who meticulously analyzes every transaction, your business has no protection against financial downturns. To make matters worse, you risk lagging behind your competitors and not reaching your financial goals. Unfortunately, where money is involved, you can’t just wing it.
Bottom line: A single decision to hire a bookkeeper can instantly elevate your small interior design business in ways you didn’t know possible. Enjoy financial stability, navigate challenges with ease, and seize growth opportunities! Ready to transform your business today? Get in touch with us.
