All startups need a strong financial foundation

When Casey Fabling launched Fabling Built, Job One was acquiring clients. His bookkeeper was relatively inexperienced, but Casey didn’t think he had complicated accounting needs. “I didn’t know how to read a profit and loss statement or a balance sheet,” he recalls. But he and Adrienne eventually had an uneasy feeling about their finances. When they dug into the books, they discovered debt they had no idea how to repay.

Steiner Business Solutions to the rescue

Casey says, “When we met Dan, we wanted someone to guide us to a permanent fix, not to just say, ‘Abracadabra, it’s fixed, now pay my fee.’ Dan educated us on how to read the numbers. He helped us chart a path out of debt and gave us next steps.”

Steiner showed the Fablings how to use QuickBooks online. Adrienne took over bookkeeping and Casey learned to run financial reports. They now know their financial position at all times.

In about six months, Fabling Built was profitable again and had systems to ensure future losses would never sneak up on them.

FABLING BUILT,

Fabling Built, owned by Casey and Adrienne Fabling, is based in Richmond, Virginia, and specializes in home remodeling, repairs and improvement projects.

fablingbulit_quote

Solid systems allow you to do what you do best

Had the Fablings not discovered their six-figure debt, it could have grown and sunk their business. Casey credits Steiner for their relatively swift recovery. “A lot of companies claim they care about customers, but Dan was willing to roll up his sleeves and work alongside us. He gave us lots of tools and information, but never overwhelmed or pushed too hard. On the other hand, he didn’t pull his shots. He showed us how to reach our goals and held us accountable for taking the steps. That definitely had a huge impact.”

 

Don’t wait for a crisis

Casey admits his first mistake was being “so focused on delivering a good product, we didn’t focus on running a good company. Dan makes sure my time and energy brings value to the company, my employees and my customers. He brings value to me by helping me use my time more efficiently. Thanks to Steiner, now we’re running a good company. It’s made our products and processes even better. If I’d hired Steiner when I first started instead of trying to bootstrap it, I could have saved myself a couple hundred thousand dollars.”