A Small Business in Pain

by | Jun 1, 2021 | Case Studies

“Mark’s” web design firm made phenomenal websites – the type that would take your breath away! But they were struggling to be profitable in a cutthroat industry. With many business owners creating free websites on various portals or spending a few hundred bucks on a basic website at an ad agency, Mark was finding it difficult to justify higher fees for his superior product – and desperately needed to free up funds for advertising his services.

He came to us as a last resort – thinking about shutting down his business and getting a W-2 job.

Mark’s profits were low in 2019, but we were able to help him implement a series of business strategies that helped him increase his revenues by almost 70 percent, increase his tax savings by approximately $15,000 annually – and the amount would increase further in following years if his profits rose.

We also helped Mark’s company as his CFO. Following an analysis of his revenue, company structure, company location, employment structure, accounting, loans, expenses, pricing, products, and goals, we met with him monthly to discuss our findings and trends/issues we observed in his business. We helped him decrease unnecessary spending by about $10,000 monthly and increase profitability by 40%.

One year later – Mark is no longer complaining about high taxes and low profits, and definitely not thinking about shutting down his company. We’ve seen his business grow, we’ve seen him hire more employees and expand his services beyond just web design – to content creation, application development, CRM management, marketing and advertising.

His initial $15,000 in tax savings in 2019 turned into $29,000 in tax savings in 2021 as his income grew. In the meantime, his profit margins are improving on a month-to-month basis, with the help of our monthly meetings and analyses.