Success Story
Maris and Associates, CPA
Proven Business Acceleration Principles Help Firm Grow
By Travis Snider, EvCC Small Business Accelerator Lead Instructor and Business Coach
Maris and Associates is a local CPA firm providing quality accounting and tax services to small business and individuals in Snohomish and King Counties. About five years ago, owner Charlotte Maris approached me seeking help to grow her practice. She had spent about 20 years building a successful company, but was facing challenges in recruiting and retaining professional staff and accelerating the growth of her firm.
After an initial assessment, we embarked on a coaching plan using the principles of business acceleration. Charlotte created a vision for her company in which she expected it to grow to twice its size within 5 years with a corresponding increase in profitability and value.
The business acceleration principles used included:
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Charlotte Maris |
- Create a vision of the company for the future
- Design the future company identifying goals and needed resources
- Undergo housekeeping and other tasks to remove current obstacles and frustrations
- Identify “key profit drivers” and select profit strategies
- Put the right people on the team and create a profit culture
- Create an effective, low cost marketing machine
- Exceed client expectations
- Evaluate results regularly and hold everyone accountable, even the boss
- Grow the company while the owner works less
Chief among Charlotte’s concerns was the high number of hours she worked each year with the bottom line trailing many of her competitors.
The first and second year saw an increase in the growth rate and additions to the staff. It took several hires to gain the skills the company needed. Financial reporting was enhanced as forecasts were prepared and monitored. Focus was placed on specific types of services to pursue and identification of the best clients for the firm to work with. Key profit drivers were identified and managed.
Over several years, Charlotte implemented new ideas and strategies, but stayed true to her original vision. In four years from 2006 to 2010, the company will have doubled revenue with a similar increase in net income. Valuation of the firm has grown by approximately 2 1/2 times. And the firm is now in the top 50% of the industry in profitability.
Maris and Associates, CPAs is becoming a significant force in the Snohomish – King County Region. The current vision seeks to double again its revenues within the next five years. Smart work, discipline and the principles of business acceleration have helped Charlotte Maris grow her firm rapidly. And she now works considerably less than she used to.
"This opportunity provided me with the tools to clarify my firm's vision. It allowed me to identify the goals and strategies necessary to achievethat vision. I now feel energized and confident about our future success." - Charlotte Maris, Owner of Maris & Associates
Learn how to grow your own company using these proven business acceleration principles and expert coaching.
Email accelerator@everettcc.edu or call 425.267.0150 to secure your spot for the 2013 Small Business Accelerator.