Have you heard the phrase teamwork makes the dream work? Leadership guru John Maxwell said it in relation to the power and necessity of working with others to realize your potential and achieve your business goals. It’s a principle we follow both internally and with our clients because it’s the key to getting your business running like a well-oiled machine.
Teamwork doesn’t happen by chance, however. You have to work at it and work it into your environment to gain the benefits. Studies show that teams—not rockstar individuals—produce the most innovative ideas and the best solutions. In addition, diverse groups of people are more creative and perform up to 35% better than teams of individuals with matching perspectives and responsibilities.1
This has proven true for the Officeheads team, where your bookkeeper, accountant, and CPA work together, under one roof (albeit a virtual roof). They collaborate to deliver fearless financial management and tax services so our clients’ companies are financially healthy.
You may be wondering how your business will benefit when your CPA and your bookkeeper work together. Two of the greatest benefits flow out of their ability to 1) diagnose problems efficiently and 2) mitigate risk quickly. Here’s what we’ve learned:
#1 DIAGNOSE PROBLEMS EFFICIENTLY
A strong financial engine runs on timely information. When bookkeeping tasks are completed each month, problem spots are obvious! And when you have a diverse team that includes both bookkeepers and CPAs, problems like these can be investigated before growing large enough to push you off course.
In contrast, when bookkeepers and CPAs are from different companies, there’s an added layer of complexity when problems arise. Communication takes more time. Investigations take longer. Resolution requires more steps. All these delays are costly.
For your business to get ahead and accomplish its goals, efficiency is key. That’s why our team works together under one roof to diagnose client problems quickly and efficiently. Because we have both financial managers and a CPA in-house, this collaboration happens simply and naturally. Their combined, strategic outlook gets the jump on potential trouble within your financial system—and that means you stay on-course, running strong toward your goals.
#2 MITIGATE RISK QUICKLY
Efficiently diagnosing the problem is the first step. The second step is assessing how that problem will affect your business over the course of the year. When your bookkeeper and CPA are working together, they can quickly mitigate the risk associated with the problem. A quick diagnosis can help you course correct and stop tax headaches before they begin. Our in-house CPA minimizes those painful surprises that can come at year end, when it’s too late to prepare for or mitigate risks that began months before.
In contrast, when bookkeepers and CPAs aren’t from the same company, solutions may not be provided quickly enough to save your business additional taxes. The monetary burden of a slow process is always heaviest for small businesses that typically have less flexibility in their budgets.
That’s why our in-house team includes experts in both! Together, they quickly diagnose problems as well as recommend and execute solutions for real-time, immediate relief.
If you’d like to learn more about working with our expert team, check out our 5-Gear Financial Management System and get a free consultation. You will benefit from our teamwork-based approach that truly makes your business dreams work.
1. McKinsey & Company; https://www.mckinsey.com/~/media/mckinsey/business%20functions/organization/our%20insights/why%20diversity%20matters/diversity%20matters.ashx.