The Problem: Traditional Financial Design
The IRS. The bank. The accountant. These are all parties who use your financial information, but they’re not the ones creating the value of your business. You and your team are.
So if the most important use of your financial information is to help you, the business owner, successfully direct your business, why is all your accounting data driven by, labeled, and organized to report to Uncle Sam, present to your bank, or satisfy your accountant?
The Solution: our Economic Design Method™
We’re excited to announce today the official release of the latest innovation from our Lab: The Economic Design Method™.
The Economic Design Method™ takes as its heart, that value creation is the principal driver of every business. And that understanding the key elements of how your business creates value, and then mirroring those insights in your accounting design, means that you have a new-found and true transparency into whether and how your business is working. After all, there’s no taxes to send to Uncle Sam, no bank that’s going to lend you money, and there’s nothing to pay the accountant, if your business is not creating, delivering, and capturing true value.
Which is why our method begins with your business model: your hypothesis of what creates, delivers, and captures value in the marketplace. During the Business Model Profile™ step, we use the canvas tool developed by Alexander Osterwalder to think through, and sketch out together, what that model is. Only after that step is done, does our team begin the process of designing your accounting system, in the Progress Profile™. Then, after you’ve reviewed and given your design approval, our team gives it shape and life in an accounting software system, and shows you how it works, during the Foundation Launch™.
Your Business Model is the Heart of Design
Whether your business is just starting, or has been around for years, we’re convinced this approach will really make a difference for you and your business, as it has for many already. To learn more, just contact us, and happy enterprising!