Food for thought for all the big small businesses in here that have employees and/or contractors…

Internal controls (something most of y’all probably haven’t heard of) aren’t glamorous or sexy until a contractor steals $110k from you or an employee cost your company $1,000’s because they weren’t doing their job getting credit card receipts from employees.

Tax strategy is sexy because you can see the things that save you 💰

Putting emphasis on internal controls & processes sounds boring because you can’t see the actual savings… that is until your company is bankrupt because you didn’t have proper approval channels in place before your money left the building…

I see this a lot unfortunately.

You can have a wonderful product or service, but if your company lacks oversight & financial boundaries, you could be losing money without even realizing it.

Lack of controls also makes it impossible to scale a business so that you can have your life back.

Proper controls also enhance communication in your business which is more likely to thrive.

It also helps in case you get audited.

There’s a ton of benefits that outweigh the cost.

If you’re intentionally growing and plan to have team members, this is definitely something you need to think about as an entrepreneur.