A Note from our CEO, Scott Soderberg

There was a time when a “business” was almost exclusively a bricks and mortar structure—a place where employees were required to be physically present every day, and somewhere customers needed to personally visit to access the goods or services they sought. While this does not seem too long ago for the more “experienced” among us, there are now entire generations that would find that kind of world not only quite strange but also very inconvenient. Regardless of age, however, I’d venture to say that most consumers today would generally agree with that statement—at least on the convenience front.

From a current or prospective entrepreneur’s standpoint, the ease of doing business has enabled an even greater number of folks to open or expand a wide variety of businesses. This can literally be done without leaving home. Sales of products or services happen digitally, involving raw materials and products that are easily received, stored, and shipped to and from the owner’s residence. Businesses without physical products (consulting firms, influencers, etc.) have even fewer obstacles to doing business entirely in the virtual world.

However, owners should understand that there are factors to consider that are universally necessary to conduct business safely and effectively. As mentioned in an earlier article, there is no shortage of financial technology (fintech) firms and other start-ups that focus on providing e-commerce services to small businesses. They are selling convenience in financial dealings, which as a feature is certainly a good thing. But due diligence in business also requires owners to listen for what they don’t hear—such as whether their money is insured, if there are protections in place that identify, warn of, and prevent fraudulent activity, whether there are options available to help with cash management, billing, and bookkeeping, and most importantly, if there is a human being readily available for a call or visit on short notice when things don’t go according to plan.

There are many of you who have a small business/virtual enterprise as your primary focus, as a side hustle, or maybe just as an enjoyable diversion. Sometimes those financial activities are even conducted using personal bank accounts that already exist. We welcome a conversation with you, whether you are thinking about starting a business, already have one and want to make sure you have the best and most secure services, or want to expand upon the success you’ve already had. We’ve seen all sides of business through the years and know very well both the pitfalls and the financial solutions available to avoid them. Whether you are a business or want to be one, give us a chance to help you do what you do best!