Financial Forecasting, Accounting and Bookkeeping for startups and small businesses
The number one reason that business fail is that they run out of money and Finance Pals helps with that. We help companies grow smart by creating forecasts so that they can figure out when to hire new employees, spend more on marketing or even launch a new service line. We also help with boring bookkeeping that some people hate so that business owners can spend their time running and growing the business and not worrying about why their accounting software does not match their bank account. We do reporting and uncover issues with the business such as not billing clients correctly or understanding which parts of the business are most profitable so that owners can make strategic decisions to invest more in the most profitable parts of their business.
All businesses need finance help but most can not afford to hire a CFO or even a full time finance person, so Finance Pals helps by offering quality part time help. We are cheaper than our competitors and have excellent startup experience because we founded 4 other businesses including 2 business to consumer businesses. We help you understand the trends in your business so that you can make informed strategic decisions and get early warnings signs if areas of your business are struggling. Owners are focused on running the business and meeting client demands and benefit greatly from a partner that helps them to understand their profitability and cash flow.
Initially Finance Pals started by trying to creating business plans and financial projections for very new startups. It turns out that startups at the stage of creating business plans are not ready to pay for consulting help and there are a lot of good free resources to help companies get off the ground although I still talk to founders about their business plans and I help guide them towards free resources.
When I was at a networking event at Denver Startup Week I met someone that needed financial forecasting and bookkeeping help. I starting working for Jeff the owner at Great Dental Websites and discovered that there was a big need for my services for companies that were still too small to hire any full time finance staff. I updated my linked in profile about a week later and within another week one of my old friends form Accenture reached out to me and eventually became my 2nd client.
Originally Fiance Pals was just a side business to make some extra cash while I was working on other startups. Then I got a referral client and formally launched Finance Pals within the next month. Now that I have launched I can look back on it all and it makes sense but it did not all come to me in some vision. It was an iterative process of trying to find my exact niche where my skills were very valuable to clients.
