8 Ways a Fractional Solution Can Ease Your Accounting Frustration
by Michelle Löpez, Founder, Advisor & COO
Trust us.
Yesterday a potential Breakaway client said, “I just can’t trust a person anymore.” Her defeat and frustration was heartbreaking.
She’d been trying to fill a financial controller role for a while and just wasn’t having any luck. Candidates were hard to come by and would often go through the entire interview and hiring process, only to decline at the last minute, ghost her, or leave the position after just a few weeks.
For a small business owner, this was draining, both emotionally and financially.
I was happy to sit down and listen to her frustrations, but nevertheless we came to the conclusion that she could accomplish the same goals for her business by hiring a fractional solution through Breakaway, with the guarantee that a larger organization would always have her back. Here are some of the advantages of the Breakaway Way:
Clients have the benefit of our Breakaway hive - It isn’t just the experience and knowledge of an individual supporting your business, but the collective wisdom of our team.
Owner-to-owner conversations - Each Breakaway advisor owns their own business, so they know what it takes to be a business owner and can communicate from an entrepreneur’s perspective, not with the limited view of an employee or vendor.
Supported workflow - You’re not relying on a single practitioner. Advisors can step in and cover for one another, so you aren’t dependent on just one person. Additionally, accountants who know they are supported and can take breaks or vacations are rested, more creative, and better able to serve you.
Motive and instinct - Because we aren’t your employee and our compensation isn’t contingent on you or your company, we can have transparent conversations. We can always have clear (yet kind) conversations without concern of consequence. It can be lonely being an owner and unable to discuss with your team concerns or big ideas without the worry of freaking out your employees. We are here for those conversations.
We’ve seen some things - Good, bad, or ugly, it's all simply information. This phrase covers a lot of ground, and it’s meant to. Whether your books are a mess, you suspect embezzlement, employees have left you in a lurch, or you’re preparing for something exciting, like a sale or acquisition, we’ve seen it and we can help.
This isn’t our first rodeo - Similarly, we’re not beginners, we’re pros. Our advisors started their own businesses through Breakaway because they excelled in accounting, no superfluous elaboration on resumes needed.
More bang for your buck - While this doesn’t always translate into monthly savings—i.e. payroll of an employee vs our monthly contract (although usually it is less)—it is absolutely less liability. As a contracted service you don’t have to worry about health insurance, workers comp, liability insurance, holiday bonus, etc….just to name a few. With more compensation owed to employees by law each year, all you’ll have with us is a monthly retainer. Additionally, all our work is covered by best-in-class professional liability and cyber security insurance.
Grow with us - With all our processes documented and a bench of accountants ready to step in to assist, we can grow with your business. Scalability is central to our model, which is good news for you.
While all that looks amazing, there is a mindset shift that needs to happen for any new client used to traditional support. You must let go of the “butt in seat” mentality and embrace the reality of remote work. You have to know that you are not our only client, we aren’t full time employees, and we are a virtual solution (generally). This transition can be both exciting and challenging, and we have proven methodologies in place to minimize stress during this exciting period in your business’s life cycle.
Want to know more? Email info@breakawayba.com or visit breakawayba.com/contact-us and we can talk it out.
