Business Power Team - Toni Counts

The importance of power team partnerships in business. Introducing Tony Counts of Innovation Counts.

Welcome to North 50th Street in Scottsdale. Today I want to introduce my partner and friend who is my bookkeeper, who lives in Florida. We're in Arizona., and it's unusual for bookkeepers, I'm sure, to get out to client sites, but I've been working with Toni for about a year now and just wanted to take the opportunity to introduce Toni, the wonderful work she's done with me, 2 or 3 of my entities that I have, and also just, you know, show Toni and she can show her team what the products are that we're working on out in the marketplace here in Arizona. So Toni looks after the books for my flipping business, my wholesaling business, and also my rentals business. And she takes care of all the numbers on the back end. We see spreadsheets about what the cost we're spending on the projects, and they keep us up to date from the bank accounts and the credit cards to tell us where we are in the numbers, where we're going along. So it's really important for you guys to be aware of what numbers you're working with, where your budget is versus what your estimated workload was. And, you know, if you're overspending, underspending, these are the people that will keep you straight. I work with the Profit First system, which was written by Mike Michalowicz originally and then re-engineered by David Richter, a friend of Tony's, specifically for real estate investors. So I really, really suggest you pick up that book, get familiar with it. It's really helpful for your business to split out your tax, your profit, your, um, your, your owner's comp. That's the important one. Yeah. And then obviously your operational expenses and your income. So if you know where your money's coming in, you can put away the money for the government first, which we don't like to do, and then we can put away operational expenses. So we manage the cost of the business instead of the cost managing us, because very often it's managing us. Like, we get into a job, we're managed by the business, we're not managing the business. So grab a partner, grab, grab innovationaccounts.com. They're scaled to work with over 150 clients right now, pushing 200., and they're easily set up to handle, you know, more clients, but they have a very, very personal touch. I have a meeting generally with, with my team at least once a week. Maybe it's just through a quick Zoom call, maybe just going over some numbers, but they're always there to be able to provide more information for me, as I also have to be responsible for providing more information for them. So Tony, fill us in, what problems have you seen with MyBooks and GeneralBooks? What is it that you see that you solve problems for people very, very quickly?

So I just see people just not budgeting enough for their flips. I see them, you know, especially if they're not tracking the numbers, they're surprised when they sign up for bookkeeping and then we go and do the backlog of some of their past flips. They're surprised to see that they didn't profit as well as they thought they did because, you know, if you're not tracking it and seeing it on paper or on spreadsheets or, you know, through your QuickBooks and just relying on your bank account, or just whatever you have in your head, 90% of the time it's not accurate. So I just see that people are a little kind of shell-shocked when they see the true profit of some of the flips that they're doing.

Yeah, huge value. I mean, just knowing where your numbers are rather than guesstimating. You know, I've gone through life guesstimating my personal expenses, my business expenses, and just having everything documented and run by somebody that knows how profit and loss really works in a business environment. There are things that we don't notice as far as, um, you know, ways that we can structure numbers. Yeah, we can massage a spreadsheet to show us pretty much whatever numbers we want them to, but if we need them to be consistent on every deal, this is where we need that person that comes in and addresses it. That's, you know, standards, national standards, world standards for doing different things. And that way you're working on even keel on every deal. That way you know what you're coming out of with the deal, you know what you're going into with the deal, and you know where you can, of course, your funds and, you know, reinvest. And they work hand in hand, like CPA as well. They get access to the numbers that these guys put together, and it's a seamless process from income to paying tax and hopefully getting a refund at the end of the year. But what else can you say to the guys watching about what the benefits are of working with a company like yourself?

So the benefits are just knowing your numbers and your profits. Also having everything organized, all of your data ready to have your taxes prepared. I do notice a lot of the time that usually towards fourth quarter is when people are realizing that they want to get their books in order. Sometimes, you know, you, you'll come across where bookkeepers are already full with their clients that they've been servicing all year. So it's really not a good idea to wait to the very last minute because you might find some struggles trying to find somebody that can help gather all of your data, especially if it's been backlogged for the entire year, to have EZTaxPrep. And what we do is we try to make it a hands-off experience for you so that at the end of the year you're not having to scramble, look for money that you made, look for money that you spent. It's gonna be all organized and kept for you in a nice and neat fashion. You'll be updated with weekly reports, monthly reports, and quarterly reports so that you always know where your numbers are.

So now this is the time— innovationcounts.com. We're just beginning the third quarter of the year, almost heading to the fourth. Get your information in there and have a chat with these guys. Get organized. It'll make your fourth quarter a lot easier, and it'll just make sure that you got your Christmas party fund there, or maybe it isn't there when you think it is. You can apportion some bonuses and some assignment of, you know, some of the benefits that you've made from the year and just know that you're on top of things. So give them a call, look out for innovationcounts.com. I'll stick the link on there.

You can find me on Instagram @innovationcounts and I can get you a schedule on my calendar to have a discovery call and discuss your books, your bookkeeping needs.

Perfect, thanks so much, Penny.

Thank you, Trystan.

Appreciate it.

Thank you for watching. Please take a moment to check out Innovation Counts on Instagram and innovationcounts.com. Sign up for a free consultation, learn about how their services will undoubtedly change the direction of your business and help you keep a control on finances, bookkeeping, profit and loss, and they even work with the Profit First system. Thank you.