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Why is it important to meet face-to-face with your business advisors?

In this episode of the Margolin Minute, MWE partner Al Materazo talks about the importance of face-to-face meetings with your business advisors.


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Surrounding your small business with a great team

Margolin Minute: Surrounding your small business with a great team

So I’m working with this new client. It’s your typical small business client. They market and distribute women’s apparel all over the United States and 100% on the internet. So we’re going about what we normally do for our small business clients. Cleaning up the books, helping them with bank reconciliations, working hand-in-hand with their bookkeeper so that we can get the tax returns filed. I am pressing for some face-to-face time with the bookkeeper because I know that when you do things over email and phone, things get lost in translation and I’m sensing that the bookkeeper is struggling a little bit. The owner is a little bit hesitant because as with most small businesses, space is limited and time is at a premium, but she finally agrees. So I send some people in from my small business group to work with the bookkeeper. And it was the right thing to do because what we discovered, once we had an opportunity to look at what she does on a regular basis, is that on every single sale regardless of the state, they were charging sales tax, and all at 8.75%. So we knew we had a problem and we knew how to fix it. I spoke to the owner and she was thrilled that we found the problem and now we’re working with them to get them into compliance. So the moral of the story is, always go meet with your client in person because nothing can substitute for a face-to-face meeting, and that’s what we always try to do here with our small business clients.
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