Case Study: Want More Money in Your Pocket? Here's how we helped Lauren organize her business and save a BIG slice of the pie for herself

case study profits taxes Aug 07, 2023

Lauren's dream of starting her own coaching business was finally coming true. She was great at helping people achieve their goals and had a true passion for it. But when it came to setting financial goals for her business, she felt overwhelmed. The numbers and ratios seemed like a foreign language to her.

The problem? Despite her company's rapid growth, Lauren was constantly hit with unexpected expenses. How much should she allocate for her team? What percentage of sales should be spent on advertising and administrative costs? And what about the cost of goods sold? It was all too much for Lauren to handle on her own, especially when she wanted to make a reasonable income and save for taxes.

That's when Lauren decided to seek help from us, the finance experts who specialize in assisting small businesses like hers. Over several weeks, we worked closely with Lauren, crunching numbers and analyzing data. Together, we came up with a formula that perfectly aligned with her business needs: 30% of gross sales for team expenses, 5% for advertising, 10% for general admin costs, 15% for COGS, 5% for systems, and 5% for professional development. This not only gave Lauren clarity on where her profits should go, but also the confidence to take home a good income and save enough for taxes.

We then spent several months implementing our plan and aligning Lauren's expenses. Once she reached optimal performance, we started our profit planning system. Each month, we set aside 30% of profits for Lauren's owner's distributions, tax savings, and business savings. This meant she had enough money to pay her personal bills, save for taxes, and even have some extra for a rainy day.

This is the system we use for every client here at JEA. We break down your business into manageable pieces and help you track your profit margins as the CEO Captain of your company's ship. We would love to do the same for YOUR company too!

Hey, you! Yes, you with the awesome business and the passion to make it big! Are you tired of trying to juggle finances and crunch numbers all by yourself? We totally get it - that's why we're here to help!

With our fractional CFO services, Bookkeeping and/or SOP Building packages! With our help, you'll have a team of financial experts at your fingertips, ready to take on all the financial tasks that come with running a successful business. From cash flow management to budgeting and forecasting, we've got you covered.

Our team of skilled professionals have years of experience in providing top-notch financial services to businesses of all sizes. And with our fractional CFO services, you'll get all the benefits of having a full-time CFO, without the cost.

So what are you waiting for? Take your business to the next level and contact us today! We promise, it'll be a decision you won't regret. Plus, our team is pretty amazing - if we do say so ourselves.

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