Beck, Prince, and Trent Reznor Wowed ‘Em by Performing With Multiple Tools

Perhaps the main reason there are more accountants serving small businesses than just about any other kind of consultant is that it takes the right person to be great at it. For the rest of us – well, let’s just say we’re glad those other people are out there and available to support our accounting needs. One of the people providing great bookkeeping and accounting services is my friend Lisa Fitzgerald, owner of LF Consulting, LLC.

In addition to being passionate about helping clients, Lisa makes a point of understanding the client’s business, needs, and goals and then finding what she can take off the client’s plate and other ways she can help the most. She particularly likes helping businesses recover from a bad experience or messy accounting situation and develop a strong, healthy relationship and a clean set of books. Lisa’s clients view her more as trusted advisor rather than a service provider, and many rely on her consultation for other things besides accounting.

Before engaging with Lisa, business owners may feel helpless or that they’re facing a mess too big to clean up on their own. Maybe the books aren’t correct, processes aren’t being followed or haven’t been set up at all, or the client is in a start-up mode and is overwhelmed by too many tasks, demands, and distractions. Lisa often ties all these needs and feelings back to the numbers to help the client focus on those things that are most important or impactful, and she often helps the client improve processes in multiple areas.

One memorable client story Lisa shared involves the chief operations officer of a wealth management firm who asked for Lisa’s help after having embarked on employment with a new company. The new company previously suffered a bad experience with its accounting provider and was trying to improve its processes. Lisa worked with the client to help him make sure the company’s numbers were correct. The client used these corrected numbers to amend tax returns and was better prepared for audits. Within a short time, Lisa had helped put in place new, efficient processes and a clean set of books.

Lisa also shared that she loves the variety among her clients and their businesses. After developing a thorough understanding of a client’s business and goals, Lisa relies on software products with which she is expertly trained to manage the engagement. Lisa also provides cash flow management and budgeting tools, and she helps her clients implement these tools in ways that empower the client to use them going forward. These tools and this training have been especially helpful during the pandemic and allowed Lisa’s clients to navigate through this past year’s uncertainty.

In another example, Lisa’s client faced some difficult staffing decisions while restructuring in response to the 2008 economic downturn. Lisa used the cash flow management tools to help the client cut costs, update the business model, and retain staff while weathering the recession. Today, the client continues to use these tools and thrives.

In some situations, Lisa uses flexibility, dexterity, and business acumen in areas outside the numbers to help clients create and implement business processes or help them in other ways tailored to their unique needs. One such need involved implementing a client’s reservation scheduling and tracking software. Drawing on experience and knowledge both in and outside her accounting background, Lisa wrote a training manual and helped train the client’s staff to use the software.

Lisa starts new client engagements by reviewing their general ledger, payables, and receivables to identify any discrepancies or errors. This review creates a baseline for moving forward. Next, Lisa typically works to develop processes and procedures tailored to the client’s unique business.

If she were looking to hire a professional like herself, Lisa would look for someone who has relevant experience and is unusually responsive. Most importantly, Lisa says, “Look for someone who strives to understand your business, build a relationship, and tailor their service to your individual needs. Avoid someone that does nothing more than pay your bills and create financial statements. Such a limited scope doesn’t allow the provider to spot potential opportunities or problems before they arise.”

When asked to describe her ideal client, Lisa shared that she likes service industry clients who want consultants to be actively engaged in the business with them. She noted her ability to offer the most value depends on being part of the client’s processes and engaging with the client on multiple parts of their business. She advises all business owners to have a budget and a cash management tool to guide their decisions and track results.

If you might want to discuss whether Lisa can help improve your business, please call me. I’d be honored to connect you.