Eliminating the Fear Factor, Lessons for Startup Entrepreneurs


Most startup entrepreneurs are confronted with common questions like, what should my marketing budget be? When do I need a CFO or should I partner with an outsourced accounting firm? If based in LA where do I find the best Los Angeles controller to manage financials? Is my product ready for market? How long until I turn a profit?

Fear cannot co-exist with focus. The founder, owner, and CEO of private equity firm Timber Creek Capital, LP ascribes his unending success in business to lack of fear. Now, this might sound easy and far fetched, but it actually is Marc Sparks’ first rule. A serial entrepreneur with no formal training ventured into uncharted waters by building top products and income-generating companies from scratch. He has experienced both failure and success. For instance, Marc lost an insurance holding company which may not have failed had he engaged a Los Angeles controller to manage the finances properly and identify risks before it was too late.

Creating a business model and culture, assembling the right team and availing with the right working tools is what propels a company’s success. The thought of having a full-time controller during the beginning stages of a startup may seem premature, but considering the cost that would be involved with failure, it is a low cost investment. Fortunately, with today’s technological advances you don’t need to incur the costs of employing a full time employee. Engaging with a virtual controller saves all the overhead of employment taxes as well as benefits, and often times for a startup 40 hours a week is not necessary.

AccountingX specializes in turning the dreams of startup entrepreneurs into reality with it’s virtual controller services. As a Los Angeles controller, AccountingX molds financial management services to help companies focus on being revenue generators. Knowing exactly where you stand each month with financials and keeping all of your books up to date alleviates stress as well as helps with funding.

To learn how to eliminate the fear factor like Marc Sparks’ did, you can begin by getting out of your comfort zone and push the boundaries you thought you would never be possible. It is time to start thinking out of the box and don’t repeat other business owners mistakes.  With the right financial team, anything is possible. It is time to eliminate the fear factor like Marc Sparks did long ago.

For more information on how you can work with the best Los Angeles Controller and achieve your business goals contact us today for your free consultation.