As your Finance Team, we work on your business ALL YEAR ROUND, not just at tax-time
We've worked with thousands of small businesses over the last 20 years. In these times of constant change, business owners deserve more than what traditional accounting services have to offer.
To succeed in business, you need a strong purpose and a clear vision of what success means for you. What do you want from your business?
Most business owners feel like they're lost inside a maze of numbers. It's unclear where they are, how they got there and which path to take. Looking from the outside in, we can guide you in the right direction.
Most businesses do not stand the trial of time and can be affected by an external jolt at any stage. 60% of businesses will fail in the first three years, and of those who fail, 50% are profitable. The fact is, many small businesses do not survive for very long, and definitely do not thrive in their industry. And sadly, business failure can happen even if you’re profitable due to many other factors.
Poor management is a killer in any aspect of business, especially finances and planning. Many business owners go in with the idea that they can manage all aspects of their businesses themselves, especially since outsourcing can seem like a financial luxury. This is a major problem contributing to the high business failure rate in Australia.
Strategic planning and financial monitoring is vital to the success of any business, especially a small business. We help you ensure that your business survives and thrives, instead of collapsing or being undersold like so many others.
We see how all the characteristics and problems of a small business can be organised into an actionable framework based on where the business is in the business lifecycle. At all stages of the business lifecycle - from the start-up to growth to lifestyle to expansion to harvest stage - in order to get to where you want to go you need to understand where you are now.
The key is (1) knowing which triggers to pull at which time in the business lifecycle, and (2) implementing a strategic plan that can be adjusted when economic and market conditions change.
Our approach is designed to help you work out:
- where you are today
- what you have missed,
- what challenges and opportunities may be ahead, and
- what the next steps are so that your activities have the greatest possible impact.
With accurate data-driven financial intelligence, presented in a way that is easy to understand, to help you get all key areas of your business working harmoniously so you can focus on its growth.
Our personalised and holistic approach:
In our 90 Day Onboarding, we completely immerse ourselves in your business
- Processes and systems are explored to find possible causalities, strengths and weaknesses
- Initiate and hasten digital transformation and automation (tracking invoices, payroll)
- Provide advice and find sources for long-term financing, legal, insurance and HR solutions
- Review company valuation and documentation for potential investors
- Governance and compliance; prepare your Statutory Obligations Calendar so you know when everything is due
- Budget and Cash Flow Forecast Workshop, based on what we know now.
- Next - your Strategic Plan. This is a half-day workshop resulting in a fully-documented blueprint for your success
- Accounting for your vision: Clearly defined goals and targets in priority areas to be tracked monthly to let you know what's working and what needs attention.
Ongoing, for peace of mind, we oversee your business performance and governance while managing your bookkeeping, payroll, payables, accountancy and reporting and more on a weekly to monthly basis.
You'll have open lines of communication with your Finance Team and Adviser at Electra Frost Advisory. Because once we're Accounting for your Vision, we become your Virtual Finance Department!