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The Playbook With David Meltzer

The #1 Financial Mistake That People Make Every Year | Interview With Gary Milkwick, Chief Financial Officer at 1-800Accountant

The Playbook With David Meltzer

David Meltzer, Entrepreneur.com

Entrepreneurship, Business, Careers

4.61.9K Ratings

🗓️ 14 April 2022

⏱️ 19 minutes

🧾️ Download transcript

Summary

On this episode of #ThePlaybook, Gary Milkwick, Chief Financial Officer at 1-800Accountant, sits down to discuss: [:55] - How 1-800Accountant was created to better serve small business owners [2:35] - What goes into the decision behind launching a company with a remote workforce [6:10] - How they’ve been able to incorporate technology into the foundation of their business [8:12] - The single biggest mistake that most businesses make in regards to their finances To learn more: https://1800accountant.me/PlaybookPodcast Tweet me your takeaway from today’s episode @davidmeltzer Email Me! [email protected] Sign up for my Free Weekly Training https://free.dmeltzer.com/friday-training-1 Text Me! (949) 298-2905 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

The biggest mistakes are that people do things after the fact, like when it's too late,

0:03.8

you know, they'll come to us in January and say, Oh, man, I just just look kind of finally

0:08.0

took a look at my financial situation. I made a lot of money last year. What can I do to,

0:11.6

it's like, there's a couple of things we can do after the end of the year, but we should have been

0:14.7

talking earlier. This is the playbook. I'm going to talk some math today and money. I have the

0:21.9

incredible CFO of 1-800-accounted Gary Milkwick. Welcome to the playbook. Thanks for having me.

0:28.8

Great to be here. Amazing. I love it. It's amazing that there's still people that have new

0:35.2

business in accounting, in accounting. You know, the evolution of technology obviously has this

0:40.9

impact, but talk about something just like death that's always there. Yeah. You know, taxes are

0:48.7

always there. You know, balance sheets are always there. P and Ls are always there. And you would

0:56.0

think that there would be no business in account, in accountancy that isn't covered by some

1:03.3

software or some conglomerate or roll up in the CPA space or accounting or bookkeeping space.

1:09.7

Right. What is it about on 1-800-accounting that creates a new opportunity and better value

1:18.4

served better and served to the many? Yeah. So yeah, like you said, it was not easy coming up with

1:26.5

a new twist on account. Because I mean, we started many years ago. There's a lot of people

1:30.8

trying to do the remote model now. So that's what we want to do. We wanted to take

1:36.3

world-class service, me and the founders. We worked at Pricewaterhouse Coopers. So we were used

1:42.4

to providing services, you know, massive corporations, which, you know, providing some value.

1:49.6

But we wanted to provide that same service to brand new business owners. So it was how do we do it

1:56.1

at scale? How do we do it? You know, my dad owns an accounting firm or he just sold it recently.

2:01.5

But, you know, in the big roll-up going on. Yeah. That's right. But he, you know, these are clients

2:07.5

that he wouldn't want to take on because it's like, you know, I'd rather have a handful of really

...

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