This blog is focused on helping you define expectations of your business partners so you can be better prepared and rely on them as things continue to change.
As the pandemic hit, I observed two primary scenarios play out: 1) Owners scrambling to gather details to apply for grants and loans with their HR Directors on speed dial. 2) Business owners who calmly pulled reports, analyzed the situation, and took immediate steps to course correct. It seemed chaotic for many businesses and calm for others. Why so different? The calm business owners have set a clear direction for their company with everyone pulling in that direction. They analyzed what was needed and provided clear, concise, and frequent communication to employees and business partners (attorneys, accountants, bookkeepers, etc.). In those companies where chaos ensued it was primarily due to lack of clarity in direction, expectations and communication before the pandemic.
If you fell into the ‘chaotic’ category, you may have discovered the need to find a business partner. This requires you to ask yourself some thought provoking questions, to determine, the ‘whys’ so you have clear sight of your vision. Some of the answers to the questions may make you squirm a bit however a little squirming now is better than more chaos later.
Assess what you need.
- Why didn’t you get the results you needed from the business partner? Define your needs to start a conversation with the current business partners. If you can’t state your needs, it may be hard for a business partner to do their part.
Communicate those needs with your business partners/set expectations.
- Why do you have these specific needs? It is important to be clear with your business partner, by defining the purpose of your needs, how your vision of success depends on the needs being met. Allow your business partner to add to the path. Their experience should be a great asset to you. If the goal is clear to all, the need is fulfilled, and expectations are met.
Measure if you are getting what you need.
- Why is it important to measure your results? Your business partners work on your behalf to help achieve your goals. You should know the results are being achieved with measurable results. Discuss with your partners, the best way to measure the results for your company.
Hold yourself and your business partners accountable to the expectations.
- Why do you feel your current business partner is or is not the right fit for you? Why would a new business partner be better than the last? My dad used to say, ‘When you point the finger at someone else, there are 4 more pointing back at you.’ Was the professional you were working with, 100% at fault, or were there areas in the relationship that you dropped the ball on? Defining those roles will minimize miss queued direction and action.
Many of the calls and requests I receive, come to me out of desperation. In any business, we need to know what is expected of us, from the start. We cannot fulfill obligations if we do not know the requirements and boundaries.
As a business partner, we might be the ones asking the Why questions, if we want to create the best results. If you are looking for different results, come to the table with your needs, expectations, and what your commitment will be in this relationship. The goal will be easier to achieve with everyone pulling in the same direction.
A little more about us:
We guide, assist and manage your bookkeeping operations, customizing our service to fit within your needs, budget and timeframe.
Providing daily, weekly, monthly or occasional BOOKKEEPING SERVICES. We assist to the degree that meets your needs and your budget. We provide you with a clear picture of your finances.
- Handling A/P and A/R entries, monthly financial reports, yearly audit assistance, state banking regulation audits, payroll processing, sales tax filing, and developing and implementing work-flow systems to ensure documentation requirements are accurate and complete.
- Creating the foundation for a cost-effective accounting system for NEW BUSINESSES, and those working to get more established, then providing customized, agreed-upon bookkeeping services contracting with clients for a clear understanding of the services to be provided.
- SCRUTINIZING existing financials to determine more timely, accurate and EFFICIENT bookkeeping options.
- Training of bookkeeping personnel in QUICKBOOKS as a Certified ProAdvisor.
Examining financials to provide DECISION-MAKING INFORMATION regarding financial department personnel needs, resources and timing for product and service expansion, financial strategies for real estate or asset purchases, etc.
MANAGING your books in a way that allows YOU to do what YOU DO BEST, sell your product or provide your services, while staying as involved in the bookkeeping as needed for proper management of your financials.
CONSULTING on-call for client financial questions.
OrganizerForU offers a 20- to 30-minute complementary phone consultation. We value your time and we know that time efficiency is cost effective. During our call, we listen as you describe the current financial situation of your business, asking the right questions to determine how our services can meet your needs. We take time to briefly explain how our services are provided, to ensure we are a good fit for your needs and situation.