Marcus is a self-employed marketing consultant. He is good at helping his clients with their marketing challenges; however, he is not keeping up with billing his clients regularly or keeping track of his hours. He feels like the time he spends on these functions is taking him away from activities where he has more talent and ability. His small business needs to bill clients quickly to keep the business running. What would you recommend that Marcus do?
A) He should better prioritize the business activities.
B) He should invest in an ERP system like the big guys.
C) He should vertically integrate the accounting function into the business.
D) He should outsource the accounting function to another firm.

Question

Quizplus · Accepted Answer

Outsourcing the accounting function to another firm would allow Marcus to focus on his core strengths and eliminate the burden of billing clients and keeping track of his hours. This would also ensure timely billing and positive cash flow for his small business. Investing in an ERP system or vertically integrating the accounting function may be too expensive or time-consuming for a small business like Marcus's. Prioritizing business activities is important, but it will not solve the problem of billing clients regularly and keeping track of hours.

Marcus Is a Self-Employed Marketing Consultant