Spouses entered a niche of commercial construction with industry knowledge and contacts and exceptional business development skills. They had no experience in running their own business. Kirsch CPA Group helped them look beyond the traditional accounting set-up. We utilized a cloud based software solution allowing us to collaborate with them and answer questions in real time.
- Put basic financial infrastructure into place so they could accurately invoice their customers and pay their suppliers and employees.
- Establish a reporting system so they could track production KPI’s (key performance indicators) in real time.
- Monitor cash flow
- Ensure that all systems were scalable to accommodate the expected rapid growth.
- Assisted company personnel in setting up cloud based accounting software.
- Designed work flow and software input to allow for real time job cost reporting.
- Collaborated with the owners to prepare a 12 month cash flow forecast, monthly update.
- Tax planning specific to a start up company (maximum depreciation deductions, initial year loss utilization; etc.)
- Quarterly strategic planning meetings
Within three years, the company grew from no revenue to revenue in excess of $5 million. The owners have purchased a larger facility and purchased a complementary business. Quarterly strategic planning meetings keep owners focused on the growth of the business. We assist them strategically with negotiating, structuring and financing the purchase of the facility and complementary business. As well as continue to utilize the cloud based software to collaborate with them.