As a financial consultant working with startups and small businesses, the question of whether to start from scratch or build upon existing financial systems arises. It all depends on the client. Whether the company has a financial structure or not, my goal is to establish a strong foundation, identify areas of improvement, and create a plan for long-term financial stability. Seeing the impact of good financial practices on a company's success is one of the most rewarding aspects of my job, and I'm proud to be a part of that growth.

Working with startups and small businesses as a financial consultant can be both challenging and rewarding. One of the most common questions I get is whether these companies already have a financial base when we start working together or if we start from scratch. The truth is, it really depends on the client.

Some clients may already have a financial structure in place when we start working together. This could mean that they have an existing bookkeeper or accountant who was helping them before, but for some reason, they're looking for a new resource. In these cases, I would come in and help the company transition smoothly to a new financial consultant. I would assess the existing financial structure, review the company's financial statements, and help them identify areas of improvement.

On the other hand, some clients are starting from scratch. This means that they're completely new to entrepreneurship, and they don't have any financial systems in place yet. In these cases, my role would be to guide them through the process of setting up their financial structure. This could include creating a budget, opening a business bank account, setting up accounting software, and creating a financial plan for the future. Essentially, we start from square one and build up from there.

Regardless of where the client is in their journey, my goal is to help them establish a strong financial foundation. This involves identifying areas where they may be losing money, finding ways to increase revenue, and creating a plan for long-term financial stability. In some cases, this may involve educating the client on financial best practices and providing ongoing support as they navigate the world of entrepreneurship.

One of the most rewarding aspects of working with startups and small businesses is seeing the impact that good financial practices can have on their success. By creating a solid financial foundation, these companies are better equipped to make strategic decisions and grow their businesses. And as a financial consultant, I'm proud to be a part of that growth.

In conclusion, when it comes to working with startups and small businesses, there is no one-size-fits-all approach. Some clients may already have a financial structure in place, while others are starting from scratch. However, my role as a financial consultant is to help them establish a strong foundation, regardless of where they are in their journey. By doing so, I'm able to help these companies achieve long-term financial stability and success.

‍