Business Differentiation

What differentiates your business from others? Every business has it's own culture, work ethic or approach to deliver the same solution as others in the same space. What makes your company the one that generates greater sales or following?

In so many small to medium-sized businesses Accounting is the last thing that business owners focus on in their busy days. They're trying to run their business, improve sales or put out fires. Then, at 6 or 7 or 8pm they need to sit down and try to understand the numbers. It's difficult to focus and piece it all together. 

Well, as any experienced Accountant in industry knows we have usually been there with the owners or upper management late in the day to provide the picture that they need to make decisions. As an Outsourced Controller this is the time of day that we kick into gear to review the important financial information with owners or CEO's to assist them in finding ways to improve their bottom line. It's not as a business development, sales or marketing expert, but as a partner in helping them to understand the numbers or as a partner in actually preparing financial statements. If they have responsibility for the small Accounting staff or other back office functions we can use our experience to assist by discussing options during those 8pm meetings.

Here are some differentiators to look for when considering an Outsource Controller:

1. Access/Availability - Business owners don't just work 40 hours per week so we need to be flexible. If you have a question or need to meet in the evening or on a weekend we need to be available to assist.

2. Accounting Software Experience - Prior exposure to many different Accounting software programs allows us to get up to speed on your program quickly.

3. Experience by Business Type - An Outsource Controller with experience primarily in service-based businesses, for example, will and should stay in their swim lanes. The company that maybe has a manufacturing component or materials or widgets should first focus on hiring outsource personnel with direct experience with their type of organization. However, it depends on the type of service being provided.

4. Experience by Industry - There can be significant crossover between industries with Accounting. For example, if your business uses project-based Accounting, then this can apply across many industries. An Outsource Controller with government contracting or not-for-profit experience can better assist with those specific types of organizations.

5. Experience by Function - If your business needs assistance with budgeting, forecasting or other financial planning & analysis functions, then the outsource personnel should have performed this in the past.

6. Price - While the fee or rate is the ultimate differentiator it should not overshadow the others listed above unless it's more of a tiebreaker. However, understanding that a price variance may occur due to the overhead costs of a brick and mortar firm versus an independent consultant, this could be just the tiebreaker that's needed.

Just make sure that these and other differentiators are in place before you select someone to assist your business. It could be the difference between gaining the right understanding of your financial picture and making decisions with inaccurate information.

Contact Steve Lipman, CPA in the Washington, DC Metro Area to see if his differentiators are a match for your company.

(301)466-2072

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