GrowthLab Finance-as-a-Service

“By the grace of God, I'm still here. From the help of a loving and committed wife, I am out of bed each morning. Because of an enormous support group of family and friends that span the globe, who don't give up on me, I'm still kicking.” - Me in 2022 > Beyond 💪🏼🙏🏼 Back in 2022 the amazing guys and gals at GrowthLab Finance-as-a-Service let me share my story of fighting to beat Glioblastoma, an extremely rare brain cancer. At the same time this disease was waging mental and physical war on me, I was working full-time in a key leadership role of a well-funded, Visa partner FinTech startup, we moved into a new home, and planted our first vines at our Steadfast Vineyards in the Blueridge Mountains. If you have a calling to Do Hard Things you have the responsibility to put your full self behind your efforts. 💪🏼 🎧 Give it a listen and tag me with your thoughts. 🙏🏼 . . . @DoersDen | Persistence | #Thankful | #Sacrifice | #Appreciation | #Family | #Strength | #Endurance | #Faith | #Hope | #PostTraumaticGrowth | #Determined | #ConquerObstacles | #StrongEnough | #Steadfast | #ManInTheGlass | #Faith | #StayTheCourse | #DoHardThings | #EmbraceTheChallenges | #GrowthMindset | #DoersDen | #Endurance | #ElevationNation | MD Anderson Cancer Center MD Anderson Cancer Center at Cooper

One of the most significant advantages of Intuit QuickBooks is its extremely versatile API, which allows seamless integration with various platforms. In short, the API is code that allows you to connect two different platforms and sync (or move) data seamlessly. By leveraging the QBO API, businesses can create custom automations that enhance functionality and improve efficiency without the need to switch to more expensive systems like NetSuite. Read more about Extending Your QBO Lifespan with Integrated Automations: https://shorturl.at/5SXLN #paidpartnership #QuickBooks #Intuit 💡 Korey Cournoyer

🌟 Thursday Scoop: Lacatia L P., Our Accounting Tech Lead & Bookkeeping Support! 🌟 This week, Lacatia has been both supporting our team and ensuring our clients have seamless access to the tools they need: New Customer Orientation: Lacatia is leading the charge in getting everything set up for a new client, making sure all necessary access points are in place so we can hit the ground running. Setting Up New Access Points: Whether it’s for new clients or existing ones, Lacatia is diligently setting up and updating access points to keep operations flowing smoothly. Support Tickets: Everyday, Lacatia supports her peers by handling tech-related support tickets. From obtaining new access points to updating account connections and researching solutions, she ensures the team has all the systems they need to stay productive. Monthly Accounting Close: This week, Lacatia has been assisting the accounting team in reconciling client accounts, preparing everything for review by our accounting managers, and getting ready to share financials with clients. Thank you, Lacatia, for your support and attention to detail!

In the world of accounting, we hear it all the time from customers… should I move to NetSuite? What often ensues is a conversation around value. What will NetSuite provide them that Quickbooks cannot? But… what if…. Just if… you could stay on Quickbooks Online (QBO), retain the team that knows and love Quickbooks, integrate your sales and marketing function without giving access to sensitive financial data… and not have to flip the accounting function upside down. Check out our latest blog about Extending Your QBO Lifespan with Integrated Automations: https://shorturl.at/5SXLN #paidpartnership #QuickBooks #Intuit 💡 Korey Cournoyer STRMS HubSpot

Recently, Managing Director, Robert Hughes III spoke with GrowthLab Finance-as-a-Service's FaaS Evolution podcast to discuss the importance of strong banking relationships for businesses and startups. "What we're trying to get to is the first real high-tech, high-touch offering for early stage founders and fund managers that meets the client where they are, and has scalability." Listen to the full episode here: http://spr.ly/6041WKJ79.

A few days late... but the numbers speak for themselves. Here's my August 2024 Recap. August was the "show me the money" type of month for GrowthLab Finance-as-a-Service. As we approach the end of Q3, I’m excited to share some key financial updates: 1. FaaS Performance: -Margins: GrowthLab’s gross margin hit 39% for a 5-week payroll period, the highest since March 2023. This reflects our strong financial discipline and operational improvements. -FP&A Recurring Services: Our FP&A recurring revenue services have grown by over 40% 🚀, bringing on 11 new customers in 4 months! This service is quickly becoming a key driver of future success. -Total Revenue: While August’s revenue was flat or up 1%, our performance remained solid considering the churn. -NOP: Exceeded expectations by $8,000, thanks to our disciplined approach to cost management and better by $40k from the the latest July forecast!! 🤷♂️ -Tax Division Growth: Tax services are up 11% yoy for August, and 17% YTD 2024, showing strong momentum. -OpEx: We managed to reduce expenses by 9% year-over-year in August. 2. STRMS Update: -Consulting Engagements & MRR Growth: STRMS is finding scale, with incremental MRR growth just two months after Scaling New Heights. We’re on track for scaling growth in September. In early Q2, the team expanded STRMS offerings to include AccountingOS and Management Operating System consulting. Thank you referral partners! 3. HR/PAS Update: -Customer Focus & Cost Consolidation: HR/PAS have maintained stable growth but up 100% yoy, focusing on core GL customer growth while consolidating costs. 4. Sales & Market Traction: -After a period of “1 step forward, 3 steps back” earlier this year, we’re gaining greater traction with our new go-to-market strategy and renewed focus on customer hospitality. As the labor market and inflation cool down, showing customers the love is more important than ever. -We’ve also seen a sales comeback in FP&A services—closing more deals in the last 4 months than all of 2023, with 3-4 deals a month! 5. Cash Flow Management: -Cash Flow WAS Tight: This month, cash hit a low of $20,000, but the team pulled through. This reaffirms the need for GrowthLab to stay self-sustainable. Remember: this industry isn’t just about intrinsic value—it’s a cash flow business. 6. Digital Marketing Success: -SEO & Web Impressions: After a rough patch, we’re seeing a resurgence in web impressions, hitting a high in September that we haven’t seen since Q1 2024. -Mobile Core Vitals: Our mobile performance vitals are all in the green. Also… cold outbound might be back!?! 7. Looking Ahead: September is shaping up to be a top 5 month. We’re increasing investments in sales, product development, and expanding our FP&A and Accounting Teams. Feels great to be hiring again—LOL! 😎 A huge shoutout to the entire GrowthLab team for your resilience, creativity, and relentless drive. Let’s keep this momentum going into the fall as we push for even greater success!

The power of community is real! Enjoyed dinner and meeting the better halves of these awesome guys. I met David Emmerman at Accountex Boston in 2017. We were on stage with Heather Satterley CPA but not sure what we talked!! I met the legend Nicholas Pasquarosa at #Scottsville2023. He has become a close confidant. Thank you friends for a wonderful evening on the Island.

Founders who need Bookeeping, FP&A or CFO work, meet my friend Daniel Gertrudes https://lnkd.in/ennsvS_T

🔍 Thursday Scoop: Abigail Church, PHR® Week in HR at GrowthLab 🔍 Abigail, our HR Business Partner, has had a busy week driving our People Advisory Services forward: Developing Ideal Customer Profiles (ICPs): Abigail has been creating detailed ICPs specifically for our fractional HR and payroll compliance services, ensuring we’re targeting the right clients with tailored solutions. Social Media Content Strategy: Shifting gears, Abigail is crafting timely social media content centered around 401k Day and Fractional HR, aligning with what’s resonating with our audience. Task Completion for People Advisory Services: From workers' compensation audits to payroll system transfers and setting up onboarding processes, Abigail has been crossing off tasks, ensuring our People Advisory Services are running smoothly. HR Metrics Report Preparation: Abigail is gathering all the data needed to build a robust HR Metrics Report. This monthly report will be a valuable asset for our PAS customers.

We are thrilled to announce that Ann-Marie Laird has been named employee of the month for August! 🎉 Ann-Marie has made a significant impact on our team and our success, particularly through her strong alignment with our core values: 🔍 Intellectually curious: Ann-Marie consistently seeks out new knowledge, demonstrating a genuine curiosity that drives her to explore innovative solutions and contribute fresh ideas to the team. 📈Continuous improvement: Her dedication to refining her skills and processes ensures that she is always enhancing her performance and the outcomes of the team. 🌪❓ Agile & deal with ambiguity: Ann-Marie's ability to effectively collaborate and adapt to different challenges, while seeking clarification when needed, shows her comfort in dealing with ambiguity. 💪 Ownership and initiative: Ann-Marie has taken ownership of her accounts as an accounting manager, proactively managing her responsibilities and frequently offering assistance to other team members. 🤝 Trustworthy: Her reliability and integrity make her a trusted team member, with colleagues knowing they can always count on her. 🎉 Enthusiasm: Ann-Marie's willingness to take on extra work, even with her busy schedule, reflects her enthusiasm for her role and commitment to the team’s success. 🤗 Empathy: She goes above and beyond to support her colleagues, always ready to help them with their workload. Please join us at GrowthLab in congratulating Ann-Marie Laird on this well-deserved recognition!