Bookkeeper and financial advisor Heather Pranitis from Number Nerd Bookkeeping Solutions and I talked about why you need to know the numbers in your business if you want to scale to seven-figures and beyond.
We talked about what numbers you should be keeping your eye on (overhead! profitability!) as you grow. Heather also explained what a bookkeeper can help with, and why it’s worth talking with one early in your business when you’re still keeping your own books, to make sure you are set up and recording things correctly.
We also chatted about when is the right time to hire a bookkeeper, and how to find someone who understands YOUR business’s revenue streams and systems. Heather stressed how your professional advisors (attorney, CPA, bookkeeper) should work together and be able to talk to each other to support your growing business.
Heather outlined the benefits of working with a bookkeeper, including understanding what your numbers really mean, getting time back by outsourcing bookkeeping, and gaining an outsider’s perspective and analysis of your business’s finances.
Then we went down the rabbit hole of how it might cost you more, in the long run, to keep your own books once your revenues reach a certain point, especially if you are using Paypal or Stripe or running payroll.
You can find more from Heather and Number Nerd at http://numbernerdbookkeepingsolutions.com
This podcast is information, not legal advice specific to your situation.