EBCFO’s Dan Schmidt on accounting for startups [VIDEO]

CEO Dan Schimidt started EBCFO to provide financial accounting services to startups in the region. “Most, except for me, didn’t start a business to do accounting and finance,” said Schimidt. “They started a business to do something else.” Schmidt sees several unique challenges that startups face, which distinguish them from the typical small business. Thanks to…

CEO Dan Schimidt started EBCFO to provide financial accounting services to startups in the region.

“Most, except for me, didn’t start a business to do accounting and finance,” said Schimidt. “They started a business to do something else.”

Schmidt sees several unique challenges that startups face, which distinguish them from the typical small business.

“Startups generally are net income positive much later in their life cycle than a traditional small business,” said Schmidt.

There’s a certain size at which a startup’s finances become unmanageable for a small team, and they reach out to EBCFO for help.

“That happens usually around $250,000 to $500,000 in revenue,” said Schmidt. “And what happens at that point is that the business gets complex enough that one person can’t really keep it in their head anymore.”

EBCFO help startups solve their financial challenges at every stage.

“The answer is never where you think it is initially,” said Schmidt. “There’s always some kind of underlying driver.”

Special thanks to Jordan Green Productions and Think Big Partners.

This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

Get the latest news and events from Nebraska’s entrepreneurship and innovation community delivered straight to your inbox every Wednesday.

One response to “EBCFO’s Dan Schmidt on accounting for startups [VIDEO]”

  1. […] Originally published on siliconprairienews.com.  […]