EP 207: What’s Working In Tracking Your Business Finances With Kaitlyn Louvier From Bench

I know plenty of small business owners who struggle with how to price their products or how much to invest in advertising. I see people question whether they can hire someone to help or whether that conference is in their budget.

And at the heart of all of these questions, are the nitty-gritty financial numbers behind all of our businesses.

Unfortunately, we often get caught up in the sexier questions and forget to dive into the reports… if we have the reports at all.

My business had been making well over $100,000 per year before I finally hired a great bookkeeper who could help me understand what was really going on with our finances.

There is absolutely no shame in not having your bookkeeping and financial reporting figured out right now. But today is the day you need to start moving in the right direction if you want to experience more clarity and growth for your business.

In this episode, we’re continuing our “what’s working” series. This series features consultants, service providers, and software companies that help make small businesses work. They offer a bird’s eye view across industries and business models to help us parse the trends and systems that are actually working for lots of businesses.

I’m joined by Kaitlyn Louvier from Bench, a hybrid bookkeeping software and service provider for small business owners. Bench’s goal is to help entrepreneurs master their financial lives with highly personalized bookkeeping services.

Kaitlyn and I talk about the difference between bookkeeping and accounting, what solid bookkeeping helps you avoid, and the top 5 numbers you should be tracking in your business finances. We also chat about the pros and cons of the options small business owners have to keeping their books managed.

This conversation is a valuable look at what’s working to track your numbers no matter what kind of bookkeeping system you have. But if you’re ready to level up how you manage your business finances, you can support the work we do here at the What Works podcast by giving Bench a try. Go to explorewhatworks.com/bench to start your free trial and get 20% off your first 6 months of bookkeeping. That’s explorewhatworks.com/bench or mention What Works when you start your trial!

By Tara McMullin

Writer, Podcaster, Producer. Founder of What Works.

May 16, 2019

Read More

Revisiting Remarkable Content to Consider Digital Ecology

Revisiting Remarkable Content to Consider Digital Ecology

I consume a lot of content. Like, a lot. At the risk of this sounding like a humble brag, let me give you a taste of what I mean by “a lot.” I’m currently reading 3 books: a sci-fi novella, a book about bureaucracy, and a book about economics. I listen to about 2...

The Economic Functions of Busyness: From Convenience to Debt

The Economic Functions of Busyness: From Convenience to Debt

I'm not a very busy person. I don't mean that as a weird flex. Nor do I say it as a way to eschew the elevated status of Very Busy Person. There simply aren't a lot of varying demands on my time. There is plenty that I want to do—books I want to read, ideas I want to...

The Satisfaction of Practice in an Achievement-Oriented World

The Satisfaction of Practice in an Achievement-Oriented World

An excerpt from What Works: A Comprehensive Framework to Change the Way We Approach Goal-Setting by Tara McMullin The rules had been constructed long before I was born, and I did not know yet I was allowed to break them or redefine them or ignore them entirely. — Jami...

What Works offers in-depth, well-researched content that strips away the hype of the 21st-century economy. Whether you love the podcast, the articles, or the Instagram content, we’d love your support