Let's Get Acquired - Why Startups Need Accounting

One of our clients, Donde, was acquired this week by a Canadian firm, Mobify. These are the kinds of triumphs and exits that define successes in an entrepreneurial world. For the Queen City, this is one more success story to add to its impressive start-up resume. 

For many startups, financials are a mess and often fall by the wayside. In our field we hear, "I'll get my finances in order down the road when I can afford it," when entrepreneurs are only concerned with raising some seed funding--just enough to get up and operational.

The moment you approach a VC, new board members, or a potential partner, they demand to see the health of your company reflected in accurate financials that include a  balance sheet, and P&L. 

For Donde, we kept their books up to date. This is something we do for every client. We reconcile and categorize all transactions from the previous month and publish reports monthly so our clients are empowered business owners who know exactly where their financials stand. We give business owners the ability to have peace of mind, knowing that they can focus on the big picture and sleep well at night knowing we are keeping their financials in order.

Not to mention, the time involved with keeping a startup's finances in order is time-consuming. Growing a startup is more than a full-time job. You have to live and breathe your startup to have success. This means you're focused on the big picture, pitching the product, and managing the hundreds of to-do's on your list. There's not much time to properly set up a financial system that allows you to have up to date books and financial statements.

We are incredibly happy for Donde, a client and a fellow Brandery-grad, for getting acquired. But this leaves us even more determined to find more startups in need of our services so they too can be ready when preparation meets opportunity.