Entrepreneurs are driven by ideas and passion. The smart ones know that the biggest difference between success and wild success is usually people – both inside and outside the enterprise. For start-ups, there is no more important role than that of an intelligent CPA who not only understands your business, but who appreciates the mindset of an entrepreneur. In 2001, Greg Crabtree joined the Entrepreneurs’ Organization as a CPA and emerged as a leading authority in helping entrepreneurs turn ideas into profitable businesses.
In his book, Simple Numbers, Straight Talk, Big Profits – Greg shares a powerful framework to help entrepreneurs avoid the recurring traps that most of us face between startup and $5 million in revenue. He stresses the importance of “getting the owner compensation right to know your true pretax profit. Once you know your true profit, you can set your sights on the correct target. When you know what you are aiming for, you must establish an understanding of how to manage labor productivity to meet your goals. As you become more profitable, prioritization of your cash flow becomes a strategic endeavor instead of a fire drill with no exists.”