Episode 98: 2 Types of Companies (clients)

Transcript

Timea: 0:00

Welcome to season two of CEO Meets Homeschool. My name is Timea Parker, and I'm both a CEO and homeschool mom to my four boys. Welcome to episode 98. This podcast today is gonna be more, well completely business related, and it was just something I was thinking about the other day, and I jotted it down as a topic. I was thinking there's two types of companies or clients that I in general work with, and it's either strugglers or achievers. However, I will say. The most satisfying that I have worked with is when I take on a client who is a struggling company and help them become a high achiever. And so I do bookkeeping and CFO. That's what my business does. So I'm coming from a bookkeeping perspective today in sharing this. So let's just say. A company is struggling and they can never get their books in order. They're never caught up, or they just don't do bookkeeping at all. So that's where I'm defining a struggler. And then the achievers are not only, I. Are they successful in maintaining their books? And that's ideally where my firm, my company comes in, we help people like every month, if not weekly. They're on track, they know their numbers, it helps them make solid business decisions. So those are achievers. And so what's happened sometimes is I will have a potential client or, and you know, I've taken on. Potential. And they become my client where they have been in the struggling phase and we go through the pain staking work of getting them up to par, and then I watch them shift into achievers. And the beautiful thing with achievers is not only does it start compounding on the good habits that the company is making, they start getting ahead. They're So, let me think about a good example. Let's just say. You get your bookkeeping in order. It makes your financial strong, your cash flow strong, and you start investing in better things such as like 401k, your employee's retirement, like you're just able to see ahead. Your tax time is now like completely seamless, smooth, stress-free versus before when you were struggling. Impending deadline was so stressful to some companies, in particular the owners or CEOs. So that was something I was thinking about. And I actually just finished a recent consult and. You kind of start when you work with different people or you do consults where you meet folks that you're deciding if they would be a good fit or if you're bringing in on them on, and, um, I heard a story and in our discussion somebody says to me, are you telling me it's going to cost$30,000 to get my books caught up? And I just looked at them and I was like, well, yes. And so it was such an interesting thing because the way that. The question was projected, like it was my fault. And I am literally a neutral third party. We help people if they want to work with us and if we deem that they are a good fit. And so I remember thinking this ended up not being a client of ours, but just that frustration and it's like you struggle and you get further and further behind and you can't quite catch up. And so when you. Um, oh, and a lot of times when I, I'll help on a somewhat regular basis, help a struggler become an achiever, and I tell them immediately, this is going to take a lot of your time, and it's gonna take a lot of your, it's gonna cost you a lot. It's gonna be painful. And let this be a reminder to not let you stay in the struggling mode, shift into the achiever where all of a sudden. You're taking care of this and it starts compounding on making everything else easier. And honestly, it. In cases, it helps people catch financial errors, which essentially creates more cash in their accounts. So it was just something that I was thinking about and I, I really, that it was so interesting hearing somebody say, are you telling me this is what it would be? And I, I wanted to say, you know, this was years of decisions. In choosing not to do something. And so we wanna shift that into good habits every week, every month, and it just really transforms some of the foundational pieces of a business. And yeah, think about if you own a business, are you a struggling or you a high achiever? And. Ideally, if you're struggling, tiny little steps can get you into a much healthier place and ideally a less stressful place. Well, thanks for letting me share that little example of two different types of companies. Have a great day. I am so glad that you joined me today. If you have found this helpful or just enjoyed following along, it would be a huge blessing to me if you like and subscribe to this podcast. Thanks so much.