3 Ways Your Small Business Can Benefit from Expert Financial Advice

Most businesses are born from a great product or service and strong leadership. Unfortunately, many fail because of poor finances. Fortunately, there are several ways businesses can benefit from expert financial advice.


Companies that struggle with cash flow, delayed vendor or employee payments, or mismanaged bookkeeping understand the importance of a company’s financial health.  Still, six out of ten small business owners have not consulted with a financial advisor, according to a study by The American College.


Small business owners that handle all the back-office tasks themselves often feel that financial analysis should remain their responsibility. In fact, the longer your company operates or grows, the more difficult you’ll find it to manage your finances. Especially without seeking outside help. 


The 40% of small businesses that seek expert financial advice benefit from a second set of eyes that can help take tasks off of their plate and free up time to plan for long-term growth. 


Unsure if your business has reached a point where it will benefit from a financial advisor? Consider these three benefits:


Reclaim Valuable Time

As a small business owner, you expect to wear many hats — especially in the early stages of your company’s growth. However, when you start to get pulled in too many different directions, your business often begins to suffer. If you’re spending too much time on accounting and finances, it may be time for a change. 

Your time is too valuable for simple bookkeeping and accounting tasks. While integrated cash flow management, accounting, and payroll software will go a long way to help you streamline the management of your company’s finances, problem-solving and personalized planning require the insight of an expert financial analyst.

As your business grows, your financial concerns will also grow more complex. If you didn’t have time before, you certainly don’t have time to gain the financial expertise necessary to deal with these new challenges. Instead, your time should be spent focusing on what you do best for your business. Learn how FINSYNC can help you manage cash flow.

Benefit from a Wider Experience Set

The problems your business may face will often require expert guidance from someone with a deep understanding of the common financial pitfalls that frequently confront small businesses. A qualified financial analyst is backed by years of experience working with a variety of different businesses that have experienced a vast array of challenges. 

This wider experience set will help the financial expert see things that you can’t and suggest creative solutions to your problems. Having a second, objective set of eyes for your financials can also help you find new solutions to problems or help improve expenses in ways you didn’t see before.


Plan for Your Financial Future

The most important benefit of expert financial advice is the ability to plan for your company’s future. Once you aren’t spending time doing your own accounting and you have the benefit of expert advice, you can make use of:

• Projections: What are your objectives for the next 3-5 years, and how do you plan to reach them? Having accurate financial projections on your business growth is a major step to turning your business goals into real, measurable objectives with a clear timeline for success. Knowing the true financial health of your business and the likelihood of meeting your goals will help you put together a realistic plan for your future.

• Market Insights: The decisions you make for your business can be greatly affected by how the overall market will perform in the next few years. A financial analyst can provide insights into what the rest of the market is doing. This helps to prepare for any possible market fluctuations.

• Formal Financial Plan: How will you transition your business to a new owner? Do you plan to sell your business or pass it on to a family member? Having a formal financial plan is extremely important. The plan will help with how to manage income and expenses during a transition. In addition, how to set yourself up for retirement. A financial expert can help you with your exit planning. Making sure you and the business are in good financial shape when that time comes. Find out more financial tips for small business owners in this article.


There are a number of other benefits your business could see from gaining expert financial advice. The truth is, that many of these benefits won’t be clear until you tap an expert. They will provide an unbiased look at your financials. What issues are you dealing with that you aren’t even aware of? Where are you losing money?


How FINSYNC Can Help


FINSYNC allows you to run your business on One Platform. You can send and receive payments, process payroll, automate accounting, and manage cash flow. To learn more about how we can help your business start, scale, and succeed, contact us today.

Helping small businesses is our core mission at FINSYNC.

Centralize your accounting, payroll, and cash flow management on our all-in-one platform.

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