Jacksonville CPA | Offering The Best Services For Accounting
Hello and thank you for joining the podcast today. My name is Brandon Mcelroy and I’m the president of Mineva, Jacksonville Base Accounting and tax firm. If you have a Jacksonville CPA that you are not happy with, you’re looking for a change. Give them a vehicle. We, uh, we pride ourselves in the service and commitment that we have to our customers and we deliver the results for them when it comes to their accounting and tax and business planning needs. Today we’re going to talk about business planning. Uh, not many Jacksonville CPA out there are going to talk about business planning or even offer this service. I’ve seen so many have it listed on their website, but as I’ve cold called them and pretended like I was a customer and have asked for the service, they really didn’t have anything set up to deliver to their clients. So I just wanted to want to first highlight the importance of business planning.
You know, what is business planning? You may say, I’m so business planning. There’s so many different things. Um, tax planning is a, is one that a lot of Jacksonville CPA will do. Um, and many people say they isolate tax planning as business planning, but here we take it a little further, so we’d like to start with a one on one conversation with the business owner to try to find out what your goals are. The goals are different for every entrepreneur may have similarities across the spectrum, but they’re going to be different for every entrepreneur. So how do you plan you plan according to the goals of the entrepreneur. So every plan is different. For instance, I have a client who’s wanting to retire soon, so, and she knows that she wants a certain dollar amount for her business. So what are we doing? We are planning to make the business saleable, so making sure systems are in place, um, making sure the staffing is spot on and making sure that her margins are attractive to a buyer that her, her client list as attractive to a buyer a. and also she knows that she wants to get a certain, let’s just in this as different from her actual number just to conceal all identities, but she wants a million dollars for her business. Okay. So we know then in her industry,
the business is usually go four, five times the annual cash to owner. Okay. So what is five times a to get a million dollars, what do you have to multiply by five to get a million dollars? So it’d be $200,000. So her, her annual cash to owner has to be $200,000. Okay. So, and right now at $150,000. So then we say okay, how do we get that extra $50,000? Okay, not hard. So what you have to do is you figure out how many customers you have. How many customers did you serve in the last 12 months?
what was the average? Okay, what was your profit for that year? For last year. What was your profit total? What’s your number of customers? Total. So then you take your total profit and you divide it amongst the customers. So if she served 100 customers and your total profit was $150,000, what would that be? Would be what? $1,500 per customer, my, my math right on that one. So $1,500 per customer. So now I bet you your Jacksonville CPA has not walked you through this type of planning. It’s simple, it’s not easy. So you’re going to have to do some work to try to get that number, that average profit per customer number. You have to look in different systems, different. You have to tally, um, total invoices. I mean you may have to do some work, get this number because some everyone’s system is not set up to, to run these numbers, but you need to know your average profit per customer. So if she needs an extra $50,000 net cash to her, her average profit per customer is $1,500. So you take 50,000 and you divide it by 1500. Okay? What does that. That’s 33 point 33 customers. Let’s just say 34. Okay? She eats 34 new customers to hit her goal.
So then what do we do? All right, great. I know I need 34 customers to hit my goal. There’s a saying out there, it says what gets measured, what gets tracked gets improved. So we’re constantly, first of all, we need to retain the original customers. No, we need to make sure systems are in place for customer service or client satisfaction. Need to make sure those systems are in place to retain the customers. Then we need to take. We need to find out what we need to do to get 34 customers. Okay? There’s Newsflash, there are 34 customers out there, so a lot of people in this world and they need your services. It’s just a matter of finding them. So again, if you’re Jacksonville CPA is not telling you these things, then you need to give us a call. So 34 customers, okay? So you need to get, you don’t have to have some fancy schmancy software or anything like that. We just need to get your Google spreadsheet for goodness sake, get a google spreadsheet. No. Put a list together and you need a,
at least a three legged marketing stool. So what are you currently doing for marketing? The Internet is where it’s at people. So if you’re not doing internet marketing, you need to be, you need to be having your employees, your team members collect reviews, Google reviews, this is gonna. Make you more visible. 80 five percent of customers read reviews and every industry, 85 percent. So you need to get your reviews, okay? You’re, they’re not going to give you. The people that are going to give you a review are going to be the people that are not happy with you. Okay? So you need, don’t be afraid to ask for reviews from your customers. They’ll be glad to do it. I’ve done this. My business, we’re working towards 100 reviews. We have 60 right now, so I can guarantee you your Jacksonville CPA is not telling you these things. So you need to give them an. I have a call then need to have at least three legs. So it depends on the industry of what your, your other legs may be. But a search engine optimization is one. Creating content and you can get people thrive will help you with this. Um, and you know, retargeting ads. When someone comes to your website, retargeting ads that follow them around the Internet, you may need radio, you may need a facebook advertisements, youtube advertisements, but you have to have a marketing plan, okay?
And you have to have a system of sale system when someone calls in to capture that and make sure you get that customer and make them happy and wow them. Okay? So if your Jacksonville CPA is not telling you these things, then you need to give us a call. You need to give them an eva call, okay? Because we’re going to help you. We’re going to help you knock it out of the park. We’re gonna help you achieve your goals. And so then you need, you need to make a dream. One hundred list of your 100 dream clients. Okay? So newsflash, you’re not going to get all 100 of them, but you might get three, okay? So you need to make a list and need to start working on them. Call them up, find out who they’re using currently. Ask them if they’re happy with them, ask them if they can give you a try for free. I mean, don’t be afraid to, uh, to give some lost liters in there. Knock out that dream 100 list, you know, get those customers, measure, measure, measure, improve, improve, improve until you reach your goals. Thank you.