Jase Daemar, a B2B business developer with a background in electrical contracting, had always wanted to start a business partnership with his wife.
They spent months researching several options, finally deciding on an eCommerce wellness site that offers high-quality gluten-free and vegan-friendly vitamins.
Mister Jones Health launched in November 2017. The mission of the company is to help customers live healthier and more fulfilling lives.
Jase wanted to create a direct-to-consumer subscription service, where he would replenish products every month.
But while the competition was low due to strict regulations and high start-up costs, Jase discovered the business demanded a lot of personal time and attention.
“I have a workhorse archetype personality. I just get my head deep, and suddenly I’m working 50 hours a week and going, what is this?… So, what I actually want is a business that can run itself without my daily involvement.” – Jase Daemer.
Jase’s plans were ambitious. He wanted to grow the business beyond eight figures and expand outside the Australian market.
The importance of reliable financial intelligence for Mister Jones Health
Jase recognized that to grow the business – he needed to work with an eCommerce growth partner. If he kept the bookkeeping in-house, he just wouldn’t achieve scale.
“There were too many transactions, and I didn’t know what I was doing. I was simply getting it off my plate. We were starting to grow and hire more people; it got to the point where we needed to get clarity on the financial side.”
Finding that perfect work-life balance
As both a father and business owner, Jase was determined to strike a healthy work-life balance. He wanted to prioritize family time over secondary business operations that could be outsourced.
“I’ve got two young kids, and I’m an avid surfer. I’m not spending enough time in the ocean or with my kids. So, my priority for the next 12 months is to grow me out of the business. I become the strategic direction and vision, while the team remains at the coalface to pull levers as needed.”
Why Bean Ninjas?
Starting Mister Jones Health was costlier than Jase and his wife had anticipated. So they hired a bookkeeper, a family friend, to look after their finances.
“But she couldn’t keep up with the volume of transactions and also the software component. She lacked the exposure and experience with eCommerce. As a regular bookkeeper, she couldn’t foresee problems.”
The need for eCommerce experts for Mister Jones Health
Jase searched for a bookkeeping service that would work specifically with eCommerce businesses. He wanted a company that specialized in high-growth, high-volume businesses and one that could help solve his company’s challenge at an affordable cost.
“It also had to be a good fit, and Bean Ninjas was the one that was targeting that niche.”
Jase found that updated financial reports became critical for making profitable business calculations as high-volume transactions increased.
Before partnering with Bean Ninjas, Jase had to grapple with balance sheets, cash flow forecasts, and risk management.
“As you grow the business and use tools that replace the parts of the business that you were once doing, you need to be more reliant on the updated financials because you’re not getting those inputs directly from those activities.”
Improved cost transparency
The Bean Ninjas partnership is a strong and beneficial one. It started with bookkeeping but has grown into regular virtual CFO sessions that provide transparency for the company’s day-to-day performance – instead of relying on hunches like before, Jase now has the insight to make strategic business decisions!
“Having our financials once a week instead of once a quarter offered more visibility and clarity. I’m not out of touch from being so far from the coalface.”
Kudos from a Happy Client
“I would have had to partner with someone at some stage; Mister Jones just got too big for me to handle. But really, I had no reservations hiring the Bean Ninjas as there was no risk involved.”
Want to save time, money, and headaches with your bookkeeping and financial reporting? Check out our eCommerce Growth Partner packages.