The Difference Between Businesses That Struggle To Survive And Those That Succeed? The Answer Is More Than Just Sales…
HOUSTON, TX, October 07, 2021 /24-7PressRelease/ — GrowthForce, one of the nation’s leading management accounting, controller, accounting advisory and advanced bookkeeping service providers—today released a video analyzing the meaning of business growth and success in our new world. The video is aimed at helping other businesses see the power in leveraging their back office for profitability and growth on the bottom line.
One in twelve businesses close every year. Why? There is a common misconception amongst business owners of what growth really means, and they begin to lose sight of why they started their company in the first place.
GrowthForce CEO and Founder Stephen King explains how most businesses think success means top-line growth. “A growing business expands in more than one way,” says King. “Your growth should not just be defined by growing sales and your business’s top line. There is no single metric used to measure growth.”
King explains that there are several data points that can signify a company is growing, such as client and employee retention. “It’s not how much you bring in that matters, it’s how much you keep,” King shares.
“GrowthForce was created because so many Entrepreneurs were not living the American dream,” he continues. “They were great service providers, salespeople and product specialists, but they only focused on the top line.”
With over 35 years of financial management experience, King is a pioneer in zero entry accounting, and advanced accounting system design. Early in his career, he spent 7 years as Chief Financial Officer at Amnesty International USA. In 1995 he founded Virtual Growth, the nation’s first cloud-based accounting service, and quickly grew it into a market leader.
When business owners can focus on what they do best, they will achieve the growth they seek. Using actionable financial data to make decisions, GrowthForce client Liberty Pipeline grew from break-even to $1 million in profits in one year. “Having detailed job profitability reports is golden in terms of understanding which clients I want to do business with and which clients I might want to stay away from,” former CEO of Liberty Pipeline and current President of Rocket J Enterprises explains.
The full video can be found here.
As the leading provider of outsourced bookkeeping and accounting, GrowthForce specializes in helping service businesses and nonprofits run better, grow faster, and make more money leveraging a dedicated, US-based fractional share of an accounting department. In addition to reliable and consistent accounting compliance and audit readiness, GrowthForce delivers timely, accurate financials, management reporting for strategic insight, and helps business owners interpret their KPIs to make data-driven decisions that drive performance and profitability.
GrowthForce combines the advanced accounting system design with a fractional share of a full-service accounting department, including professional, U.S.-based teams of bookkeepers, accountants, and controllers. The GrowthForce Smart Back Office™ framework combines the latest technologies, dedicated teams, and efficient processes to become a scalable solution through any stage of a business’s lifecycle. For more information, visit GrowthForce.com.
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