I recently completed an exercise designed to help me with my elevator pitch. I thought this exercise might make a good newsletter - it's been awhile since you've heard from me. So here goes: The first question was...
Who Are You?
I’ll skip the obvious because you’re about to hear the elevator-is-stuck version of the Wessel Forensic Accounting elevator pitch.
The second question (since I’ve explained that my company is in the business of investigating fraud and also has a great fraud prevention service called BizSafe) is:
What is BizSafe?
BizSafe is a conversation, not an audit and definitely not software, about how your business accomplishes its objectives. It’s a conversation about your policies and procedures, even if they aren’t written down. My partner and I ask you questions about what you do and how you do it. Examples: How and from who do you receive income? Who mails checks to vendors? How do you assign passwords? Who reviews your server logs? Who locks the doors at night? Pretty basic but very important stuff that tends to get overlooked when you get busy. When we have all our questions answered, we write a report that includes our findings - weaknesses that we identified in your practices and procedures that expose your business to mischief and mistakes - and our recommendations, easy ways to change so you can plug the holes and eliminate or mitigate mistakes. And mischief.
Who Needs a BizSafe Review?
A BizSafe review is important for any organization that is large enough to hire employees and delegate responsibilities. In other words, the owner or management is no longer watching all transactions as they occur. It's especially important for small businesses and non-profits because they frequently don't have the knowledge, need, or resources to set up protection at the start. Then when business picks up and they're hiring employees, they don't have time to think about it.
The Last Question:
HA! That’s the next post. And considering my posting record, you might not get an answer until next year sometime. You can learn some interesting stuff in the meantime if you follow me on Twitter. But if there’s a middle-aged woman working in your office, you may want to give me a call.
REMEMBER: TRUST IS NOT A CONTROL!