Starting a business or taking an existing business to the next level requires the right people. process and technology. This is what we call the back office or virtual bookkeeping services. The way entrepreneurs get this done determines future success and whether the business starts incurring Invisible Expenses™, those expenses you don't know about that are killing your profits.

Free Advice

Entrepreneurs' gung ho, do it yourself, wear every hat possible, get free advice approach is often necessary to create a business with limited resources. There's also a thin line beyond which this approach backfires. Robert Kiyosaki, author of Rich Dad Poor Dad, says, "free advice is the most expensive advice." Free advice is like compound interest for Invisible Expenses™. Your company requires Minimum Viable Expenses™ (MVE's) to operate successfully in the 21st century. Learn more about the cost of deferring MVE's here. 

Choice

Allocating limited resources effectively requires lots of choices. Entrepreneurs love choices so the more they have the better. If there's only one way to get something like specific legal services, then the money gets spent in that area. We're not talking about choosing between Law Firm A and Law Firm B when both law firms are capable of delivering the same service. Were talking about Jenna, an entrepreneur who assembled the back office of her company, Gung Ho, LLC, for free instead of outsourcing to online bookkeeping experts like invizibiz.biz. Gung Ho, LLC's legal bill was so high she chose the do it yourself method for bookkeeping and accounting. 

The Choice Trifecta

Entrepreneurs allocate resources to get work done in one of 3 ways: 

Choice #1) They hire someone 

Choice #2) They work together with someone 

Choice #3) They do it themselves

One, two or all three of these methods may be available depending on the vendor offering the product or service. Entrepreneurs have the most choice when they say how it goes. Naturally a vendor providing all three will get more customers by providing more choices.

The Cost of Choice

The spectrum of cost for each choice above follows:

Cost #1) Most expensive = high quality

Cost #2) In between

Cost #3) Least expensive = low quality

The Choice Trifecta spans the entire spectrum of costs which is the dollar amount on a vendor's invoice not the total cost to your company which may include Invisible Expenses™. A business consistently going with Choice #3 and Cost #3, do it yourself with a lower cost, will incur more Invisible Expenses™ vs. Choice #1 and Cost #1. 

The Expense Paradox™

Entrepreneurs typically avoid Choice #1 when allocating limited resources so they have more resources to allocate. Ironically, the less expensive choice is Choice #1, the vendor with the highest invoice. Their services usually provide the highest value which means your business incurs the least amount of Invisible Expenses™. It goes like this:

• The more paid up front the less your business pays later.
• The less paid up front the more your business pays later. 
• The amount paid later is at least 9X more expensive than the invoice. 

Sometimes entrepreneurs are forced into Choice #3 and other times they fail to see the value in Choice #1.

The decision making logic falls into 4 categories:

Logic #1) They want it and get it at any cost

Logic #2) They want it but can afford it 

Logic #3) They are blind to value from a price tag

Logic #4) They want to do it themselves regardless

Exceptions 

As always there're exceptions to the theme of this blog. It's possible to get Choice #1, the most expensive but high quality product or service, for half the price and same quality. We aren't focusing on exceptions, but it's great if you can pull them off. We're focusing on the natural laws of allocating resources, the real return from choosing one thing over another. If you violate these natural laws your business will incur Invisible Expenses™. There is no other way around this except honoring these laws and getting The Ultimate Paperless Back Office™ by invizibiz.biz. 

Old Model 

These blog insights are the culmination of years of research and experience. Most CPA firms and other professionals bill by the hour and some firms are more expensive than others. There's a major shift towards value billing yet this still doesn't service most businesses. CPA firms are looking for clients who can do these 2 things:

1) Listen and implement recommendations

2) Afford the firm's billing rates and pay on time

Until Now

This problematic old model approach fails to serve approximately 85% of the millions of businesses in the US alone. Over 500,000 entities are formed monthly depending on the source. So 5,100,000 newly formed businesses are underserved because they can't afford the old model and this doesn't count over 30 million existing businesses. In this case entrepreneurs are forced into Choice #3 as stated above.

10 Times Value

Internet marketing guru, Eben Pagan, exclaims, "give your customers 10X the value of what they pay for your products." No one has figured out how to serve this golden opportunity until now. Eben's advice is part of our core philosophy at invizibiz.biz.

the invizibiz way

We've woven The Choice Trifecta into invizibiz services and products while simultaneously shattering The Expense Paradox™. We help you eliminate Invisible Expenses™ and you choose how to do it. You always get the quality of Choice #1 without having Cost #1. The invizibiz way works like this:

• The more work you do the less it costs
• The less work you do the more it costs
• The quality remains the same
• You get to choose

“invizibiz.biz is the best site for turning your business back office into a well oiled machine. Whether you want to outsource or guide yourself. It's like having a boutique business consulting firm on call 24/7 without being cost prohibitive for a micro-business”, says founder Kirk Phillips, CPA, CMA, CFE, CBP

Just follow our easy color coding on all of our products and services:

a) outSource It™ ~ We do it for you

b) coSource It™ ~ We do it together

c) iSource It™ ~ You do it yourself 

Here's an example of invizibooks, (The Ultimate Paperless Back Office™) outSource it™ sales page:

Whether you’re starting a business or ready to explode your existing business, you can’t afford to wait another day. Virtual bookkeeping services by invizibiz is the only way to have peace of mind on your business building journey. Get started today by clicking here, The Ultimate Paperless Back Office™. Gung Ho, LLC made the leap and so should you. 

The Paperless CPA, Kirk Phillips