184 ⎸ Weekly (Micro) Reporting for Clients with Shea & Michelle

Hey ambitious bookkeepers!

In this interview episode, we're diving into the world of micro reporting and weekly client updates with Shea Keats and Michelle Löpez from Breakaway Advising. If you've ever been curious about adding a personal touch to your client advisory, this one's for you!

Listen here or on your favorite podcast player, or watch the video version on YouTube >>

Now let's dive into some highlights!

Who Are Shea and Michelle?

If you haven't met them before, let me give you a quick introduction. Shea Keats is the CEO of Breakaway Advising, a unique franchise model supporting bookkeepers and CFOs. Michelle Löpez holds the titles of COO and CFO, bringing a wealth of knowledge and support to the advising process.

Their unique approach combines advisory services with community support, a robust tech infrastructure, and an inclusive model that stands apart with no barriers to entry or exit. You're basically getting a backstage pass to learn how they're successfully running a franchise model specifically designed to serve both bookkeepers and small businesses.

Breaking Down Micro-Reporting

Now, onto the juicy stuff—micro-reporting. As we dug into the conversation, Michelle laid out their fascinating approach to weekly, or what's sometimes called, "micro-reporting." It's not just about crunching numbers; it’s about gamifying financials to make understanding them intuitive and aligned with a business owner’s goals. Here's a slice of what they aim for in their process:

1. Cash Positions: Analyze weekly cash balances, determining how upcoming expenses will impact available resources. If the end-of-week balance is higher, you win!
2. Accounts Receivable: How do they change week over week? They ensure AR figures align with cash positions to avoid false senses of security.
3. Revenue & Expense Tracking: Are revenues aligning with the forecasted budget? How are expenses managed compared to what's expected? This brings clarity and allows for immediate action to keep clients on their growth trajectory.

Why It Matters

Seeing the impact of these practices, Shea and Michelle shared inspiring results like average business growth rates upwards of 50% annually. They're not just about boosting revenue; they're instilling confidence and providing clarity for their clients, allowing them to focus on their businesses' core while knowing their finances are in good hands.

For Advisors: Adjust the Strategy to Fit You

One point I loved is how Breakaway allows their advisors to tailor their approach. It’s not about one size fits all; it’s about finding your unique mix of clients and services that aligns with your personal and professional goals. Whether that’s a handful of deeply involved clients or managing a larger portfolio, Breakaway supports the model that works for you.

Connect and Learn More

If Breakaway Advising piqued your interest, either as a potential advisor or someone curious about their client services, check out their website or connect with Shea and Michelle on LinkedIn. They're eager to share their socially dynamic approach to accounting that marries results with joy—a rare combo indeed.

Until next time, keep bringing joy to your bookkeeping journey!

Serena

Connect with Shea & Michelle

💼 LinkedIn

🌐 Become an Advisor

Connect with The Ambitious Bookkeeper®

🌐 Website: ambitiousbookkeeper.com

👩‍💻 Blog: ambitiousbookkeeper.com/blog

📱 Instagram: instagram.com/ambitiousbookkeeper

📱 Facebook: Facebook.com/serenashoupcpa

💼 LinkedIn: Linkedin.com/in/SerenaShoup

For experienced bookkeepers & accountants:

Learn how to start your bookkeeping business in The Bookkeeping Business Accelerator® >>

Grab my FREE Start your Bookkeeping Biz Checklist >>

Grab my FREE New Client Onboarding Templates >>

For new bookkeepers:

Learn the fundamental accounting skills in Katie Ferro's Become a Bookkeeper >>

For online course creators:

Become a client at my firm, Of Course Financial >>

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