Reducing Debt in a Small Business by 50% in 3 Months

At a Glance

This client had been working with an accountant for years, receiving the usual bookkeeping and tax services. This client knew that they should be taking home more money but didn’t understand their current situation and didn’t know how to improve it. When we began working together we made sure to understand the client and what they wanted and then took the time to educate them about their personal & business finances. Within weeks the client was in a better financial position and was actually excited about their financial future!

Challenges

This client had a successful landscaping business that was grossing around $1MM annually. While they were grossing quite a bit of money their take home was low and they weren’t sure where all of their money was going. There were also inefficiencies in the business that cost hundreds of thousands of dollars each year and dozens of hours each week.

The Solution

First we cleaned up their books and set up a weekly meeting. Each week we uncovered more of the complete picture and educated the client on their financial situation. Then, we created a spreadsheet that included all debt and set up a payment schedule. Next, we set up business practices that lowered accounts receivable, increased cash flow and cut out many expenses. Finally, we incorporated a goal structure and organized both the clients personal and business finances as tax efficiently as possible.

Type of Client

Landscaping Company

Services Provided

Bookkeeping
Weekly meetings
Overhead documents & organization
Personal financial statements
Investor reports
Liaison with CPAs to organize & handle all tax items
Goal structure

Let’s Work Together

With a wide range of knowledge, including finance, marketing and vision building and an ability to bring-in and communicate with various specialists to ensure optimal care, Fox and Partners is uniquely suited to bring to the business world what the medical world has had for decades – a warm first point of contact, a professional with a breadth of knowledge and coordination for all of your business and financial needs.