In his groundbreaking book, The World is Flat, Thomas Friedman talks about how globalization and technological innovation have evened the world’s playing field and changed core economic concepts as well as the way we do business. In this new paradigm of a technologically ‘flattened’ world, more and more businesses are turning to virtual, outsourced solutions for important functions like bookkeeping. With tools like cloud accounting and virtual meeting software, virtual bookkeepers can provide services on par with onsite consultants and in-house staff from anywhere in the world, and usually at a lower cost. What Is A Virtual Bookkeeping Service? Under this model, a bookkeeper works with her or his client remotely using accounting software that allows multiple users to access an account. With this type of cloud account, you— and your CFO or CPA or whoever else you want to grant access — can see financial transactions posted by your bookkeeper and the numbers underlying various financial reports at any given time. But just as with any bookkeeping or accounting service, trust is the main thing. Without it, there’s no foundation for a solid working relationship. If you don’t trust that your bookkeeping service is ethical, experienced and competent, it should be a nonstarter. Why Should I Consider Using a Virtual Bookkeeper? One of the biggest benefits is that virtual services often come with a lower cost than hiring in-house staff or a pricey CPA firm. And the bookkeeper or service can be treated as a contractor, which provides a
Steiner Business Solutions made Richmond Biz Sense‘s RVA 25 list of 25 fastest growing companies in the Richmond region, coming in at number 18. See the 2019 RVA 25 list.
Richmond, you have voted for the fifth year in a row, and the winners are in. After tons of votes, you have selected your favorites in 100+ categories, from The Best Brunch to The Best Furniture Store to The Best Auto Repair. The votes are in – Steiner Business Solutions was voted in the top 3 as Second Runner Up for Best Local Accounting Firm in Richmond! Our staff is thrilled to be voted in the top 3 from the RTD. We share this honor with all our clients, friends, family and business partners. We love all of you! We’re keeping our foot on the gas and making a difference in the small business community. #RTDTheBest
If you’re a business owner, then you’ve likely experienced a sleepless night or two (or let’s be honest, many more). It comes with the territory, even if you’re wildly successful. But when you’re losing sleep over unrelenting cash crunches (despite showing a profit on your P&L!), or whether to purchase a struggling competitor’s assets, or why your best selling product seems to be a drain on the bottom line, it might be time to hire a CFO. It’s a CFO’s job to be at the heart of your company’s financial systems, to help you understand the stories behind the numbers and provide you with key insights that are necessary to make the best, most strategic decisions. And that can go a long way towards giving you a good night’s sleep. There are any number of different circumstances that justify hiring a CFO depending on what’s keeping you awake at night, but let’s look at three common ways a CFO can be an invaluable resource to your company. #1 Understanding The True Cost Of Doing Business With Customers Not all customers are good customers, but many business owners make the mistake of accepting any and all new business that comes through the door. They think that more business always correlates to bigger profits. And that just isn’t true. Generally there are costs associated with onboarding new customers, and some customers can actually be a drain on profits. A CFO can help you evaluate existing models for profitability. If, for example, you’ve
Turns out that old expression is true: it is lonely at the top. As just about every CEO knows, it’s easy to feel siloed in what seems like an echo chamber, even after you’ve carefully considered feedback from talented managers, customers and staff. Because no matter how you cut it, the buck stops with you and ultimately, big decisions rest on your shoulders. Which is why CEO peer groups are an effective way to break out of the echo chamber and get feedback and advice from peers who understand your situation— because they’ve been there themselves. Who Can CEO Peer Groups Help? In general, CEO peer groups help business owners and managing partners capitalize on opportunities, kick-start growth, and accelerate the learning curve in a structured environment designed to foster the “cross-fertilization of ideas.” More specifically, they help: Time-Crunched CEOs and Business Owners Business owners and CEOs often say they’re so consumed with day to day challenges they don’t feel they’re spending enough time focusing on long term strategy. Peer groups give you the opportunity to use uninterrupted, focused time to brianstorm strategies that have the potential to increase revenue and solve big problems. Seeking New Perspectives on Challenges and Opportunities CEO peer groups can help you see new perspectives on a problem with the goal of finding alternative solutions. And often, frank feedback from other members not beholden to them can help adjust their own perspectives and managerial and organizational approaches. Seeking Support and Advice from Other CEOs