176: Solving Small Business Accounting Problems: The Trusted but Not Trained Issue

AmiSights: Financing the Future For Small Business Owners and Entrepreneurs

In this episode of the AmiSights Podcast, we chat with Michael Ly, the founder and CEO of Reconcile. Michael shares his journey of starting the company in 2016, driven by a mission to support entrepreneurs by handling their daily bookkeeping and accounting needs, allowing them to concentrate on their core business strengths. “The business owner or the entrepreneur, they don't start a business because they're excited about accounting,” he said. “They start a business because they're passionate about a product or service they want to provide to the world and provide to their end customer, and accounting generally is not that service unless you're an accountant.”

Today's episode will explore why rapid growth doesn't immediately translate into cash flow, as the need to hire more employees increases. We'll also discuss the challenges of finding qualified accountants, a task made even more difficult since the pandemic, which saw 300,000 accountants leave the industry. Lastly, we'll dive into strategies for building a strong company culture within a fully remote environment. Connect with Michael: https://www.linkedin.com/in/michaelly/ Follow Michael on Instagram: https://www.instagram.com/michael.s.ly/ Follow Michael on X: https://x.com/michael_ly_ Check out Reconciled: https://www.reconciled.com/ Follow Reconciled on X: https://x.com/getreconciled Follow Reconciled on Instagram: https://www.instagram.com/getreconciled/ Follow Reconciled on Facebook: https://www.facebook.com/getreconciled/ Recorded on 6/24/24