This post, written by Aprio Cloud, was created for Xero's blog and can be read in its entirety here.
2020 proved to be a year of change. While some of
that change was difficult, there were some positive changes worth reflecting on. For many reading this, your morning commute may start with shutting off your alarm clock, making a pit stop for coffee in the kitchen while on your way to your desk (which may or may not also be located in the classroom you share with your kids). Although this is a big change for some, if you’ve ever started a business or known someone that has, then you know that many times it starts with an idea that evolves into a product that is built in a garage or drawn out on a kitchen table.
For these new businesses, workflow and finance aren’t always the first things on the list when an idea is coming to life. You’re happy just to have a product to create an invoice for, and seeing that first deposit in the bank is exciting in itself. This is the story our team has heard from many clients. It may start with one invoice, but soon enough someone is up at midnight trying to format invoices to send to new customers. Then comes the flow of deposits from the bank. Someone has to match each of those deposits to an invoice or multiple invoices. It’s a good problem to have until it starts stealing time from the dream you are trying to make into a reality.
