VIP Business Coaching
Optimizing The Financial Side
of your business
As a successful business owner, you want clarity about your finances, and you want confidence in your future. You want the financial components of your business to be thriving, organized, and fully aligned with the rest of your life. You’ve worked hard to build up and support your business, and now you need your business to fully support you, your family, and the life you want to live. Let me help you get there through VIP Business Coaching.
With VIP Business Coaching, we can focus on the financial pieces of your business that would benefit most from improvement. Whether you need help improving cash flow, increasing profitability, developing new income streams, making employment decisions, scaling, or creating a tax strategy for your business, I can help.
I have a wide range and depth of experience working with the financial side of small businesses. With over 12 years as a self-employed business financial professional (Contract CFO, Enrolled Agent licensed by the IRS, Accountant, and Business Coach), I have a lot of real-world experience, and I’m highly skilled at what I do. I’ve worked closely and extensively with over 100 different small businesses in a wide range of different industries. I’ve worked with research companies, and I’ve worked with design firms. I’ve worked with stylists, and I’ve worked with therapists. I’ve worked with large businesses that make money on volume, and I’ve worked with high-end agencies that only service a limited number of (top-tier) clientele.
I know that no two businesses are the same, and no two business owners have exactly the same goals. For this reason, I always use a customized, tailored approach with every business client (unlike the many business coaches who use a pre-packaged business growth “program”). Whatever your goals, I promise that I will meet you where you are, and we’ll work to achieve them together.
In addition to working on the technical aspects of your business finances and tax strategy, I can also help you if you have any negative mindset issues related to money. I believe that negative beliefs about money and finances can have a truly detrimental impact on your business and your ability to be successful. If this is the case for you, VIP Business Coaching can help you start shifting your mindset to one that is proactive, forward-thinking, and empowered.
VIP Business Coaching is designed for business owners who want to address their most pressing business financial challenges in a focused way. If you are interested in ongoing support and guidance for the financial side of your business, I invite you to consider my Virtual CFO Service.
What results can I expect from VIP Business Coaching?
You can expect us to achieve whatever specific goals we set out to work on. If you want to increase your revenue, we will work on that. If you want to grow (or downsize) your workforce, we’ll figure out the best path forward. If you need a plan for navigating multiple business changes, we can get you on the right track. If you want to optimize your tax strategy, we can make that happen. Basically, we can work to improve and optimize any of the financial components of your business.
In addition to these specific goals, my overall aim is always to increase your profitability. Because I believe that profit—not revenue, or growth—is the most important marker of your business’ financial health. (For example, it doesn’t do you any good to increase your revenue, or to move into a bigger space, or to grow your workforce if your profit stays the same.)
To give you a specific idea of what you can expect in terms of profitability, over the past two years, the average year-over-year profit increase for my one-on-one clients has been 399%. And the median year-over-year profit increase for these clients over the same period has been 476%.
How does VIP Business Coaching work?
VIP Business Coaching packages range from one to multiple sessions, depending on the scope of the coaching you need. Typically, the first session is in-person, and the following sessions are virtual. The in-person sessions can be held either in your city or in Dallas. Local clients (in the Dallas area) have the option of holding all their sessions in-person. I usually try to schedule the sessions within a 60-day period, so we don’t lose momentum. In some cases, however, we might need to extend this period because of the scope of what we are trying to accomplish.
These sessions will be laser-focused on the challenges you want to address. Be prepared to hit the ground running, because we will be covering a lot of information each session. Prior to each session, we will be in contact by email (or phone) to make sure that we have the necessary information and documentation to make our sessions productive. I will also ask for access to your QuickBooks file, as well as any financial spreadsheets you are using.
I will be doing a significant amount of prep work for each session, including running numbers and modeling out different options for the changes you are considering. I will also provide a written recap after each session to make sure you are clear on the next steps you need to take. In addition, I will follow up with you to ensure that we have addressed any issues that may have come up during the session.
Essentially, my goal is to make our work together as productive as possible. After you finish VIP Business Coaching, I want you to be confident and clear about your next steps. And I want your business to be productive, profitable, and capable of supporting the lifestyle you want to have.
Areas of your business that we can improve with VIP Business Coaching
We can grow your revenue:
This will look different for different businesses. In some cases, I simply help my clients increase their sales volume. In other cases, I help them develop and position one or more additional income streams. And, in other cases, I help them transition their services to a more premium tier (so they can charge higher prices).
We can shift or transition your services:
I help my clients shift or reorient their services so they’re more closely aligned with the type of work they want to be doing. (This usually involves a dance between maintaining current revenue streams, investing resources into developing the new offering, and managing all this on a timeline that’s sustainable).
We can improve you cash flow:
I help my clients understand where their money has gone (and is going) so they can anticipate and plan for the future. This typically includes educating them about their business’ burn-rate and financial runway; in addition, it often includes laying out different options for how to manage their business’ cash depending on their goals. (Here are some examples of the types of goals we might be juggling: paying off a loan more quickly; considering how taking on a new loan would affect cash flow when we consider the repayment schedule; reconfiguring the timing of profit payouts to the business owner; contributing to a business savings account; setting aside the proper amount of money for anticipated taxes due; etc.)
We can increase your compensation:
I help my clients not only increase their take-home pay (salary and distributions), but also increase the benefits they receive through their business. Some of these benefits include medical insurance, HSA contributions, repayment for use of personal property (through properly documented channels,) maximized 401k contributions (in 2023, employee-owners have the opportunity to contribute up to $66k for the year); medical reimbursements, and more.
We can address staff configuration, hiring & compensation:
I help my clients match their workforce to the needs of their business. In many cases, this involves hiring additional staff (if we are trying to grow the business, or if we are trying to remove administrative tasks from the business owner’s plate). In some cases, however, it will involve downsizing staff in order to help clients strike the most profitable balance for their business. A big part of this process involves helping my clients calculate the return on investment for each employee (or for each role in their business,) which helps us develop a compensation scale of what the business can afford to pay staff.
We can optimize your business legal structure:
I work with many clients whose businesses would benefit from operating as an S-Corporation. For these clients, I help them file for S-Corp status with the IRS (as well as filing for their LLC with their state—if they haven’t already done that). As a next step, we work on overhauling and optimizing the components of their business that will give them the biggest benefit from their new S-Corp status (these components include tax strategy, estimated tax payments, and payroll and accounting systems).
We can address your tax strategy:
I help my clients develop a tax strategy that is tailored to their specific business needs. As part of this strategy, we will cover all the deductions they should be taking, and we’ll look at what specific documentation they need to qualify for each deduction. In many cases, I also build a customized Chart of Accounts in my client’s QuickBooks file, which helps them keep the relevant expenses separately notated for tax return purposes. By addressing their tax strategy, my clients routinely save tens of thousands of dollars each year on their taxes.
We can improve your accounting and payroll systems:
I help my clients customize their QuickBooks account for their specific needs. This includes creating a customized Chart of Accounts and creating customized report templates. I can also develop processes to help business owners capture the information they need for their business. Additionally, I can help with payroll software set-up. And, I often train business owners (and any relevant staff members) on how best to use QuickBooks and payroll software.
If you’re ready to put your business on a financially healthy track, click the button below to get started!
“I honestly cannot think of a better or more important investment I have made in my business—or in myself.”
It really is difficult to say enough about Erin, the quality of her work and the way she goes about it. After somehow managing to survive in business for over 30 years with almost no professional financial guidance, Erin came in and 1) helped me put things in the best possible professional order, 2) opened my eyes to resources and opportunities I had no idea existed, 3) helped me to a much better understanding of a number of issues related to my own mindset/self-imposed limitations around my business and money, and 4) supported me emotionally and intellectually as I made important decisions about growth and investment. You will find that she is both smart and proactive. If she commits to working with you, she will be all in and expect no less from you. I am better in more ways than one for my association with her, and I honestly cannot think of a better or more important investment I have made in my business — or in myself. If she seems a good match for you or your business, I cannot recommend her highly enough.
–Barry Nash, Barry Nash and Company
“Bringing Erin on was the biggest blessing for me personally and the business.”
I had the pleasure to work with Erin during a time when I considered my business to be at a “low”. The compounding struggles of the pandemic had me feeling defeated, and bringing Erin on was the biggest blessing for me personally and the business. Erin embraced ALL facets of business ownership – the tangibles (finance, operations) as well as the intangibles (beliefs, morale, personal emotions). In doing so, she managed to validate, educate and empower me as a person, which in turn empowered me as a business owner. She has laid the foundation for CLEAR and EFFICIENT financial strategies to help not only bring the business out of the “low” – but now speeding into a new “high”. I am feeling extremely confident with where the business is heading. THANK YOU, Erin. My gratitude is endless.
–Joyce Bertulfo, Revyve
“Thanks to Erin we are in track to have our highest grossing year ever!”
As a 15-year owner of a design and branding agency, I’ve experienced many successes, but with that also comes opportunities for support and growth. I wanted to be more in control of our finances and intentional with the money we made. I truly felt like my team and I had taken as far as we could on our own, and we were lacking the clarity needed to know what actually was the “right” next moves. It was time to bring someone in that could give us a deeper understanding of the “numbers” that could help take my business to the next level. Most importantly, what they meant, how to interpret them and how we could actually use that information to better plan for the future. That’s where Erin comes in. She works with us on regular basis to make key decisions that impact our business in day-to-day operations, helps us make informed (and smart) decisions based on our long-term financial goals and set new goals for the future based on opportunities we would not have seen otherwise. Overall her communication, guidance and insight have exceeded our expectations. I would highly recommend her to anyone with a business that isn’t quite large enough to hire an in-house CFO, but still wants the peace of mind, expertise and direction that a CFO can provide. It has made a world of difference in my business, and my money mindset. Thanks to Erin we are on track to have our highest grossing year ever!
–Kristin Moses, DesignGood
“There’s no doubt in our minds that having her on our team has allowed us to earn more money, stress less, and create a clear vision for the future.“
We’ve been working with Erin as Virtual CFO for more than a year, and she’s been a huge asset to our company as we’ve been working through some major transitions (not to mention COVID!). She’s been our biggest cheerleader, our financial guru, our rock, and our accountability partner. There’s no doubt in our minds that having her on our team has allowed us to earn more money, stress less, and create a clear vision for the future. She’s made financial decision-making simpler and has helped us focus on the big picture instead of getting lost in the details. Erin offers an experienced outside perspective that would have been impossible for us to attain otherwise. We feel lucky to have had the opportunity to work with her and know that she will continue to be a part of our major business decisions as we move forward.”
-Thriving ATX Business Partners
How much does VIP Business Coaching cost?
- The number of sessions we will have
- The amount of work on your account that I will need to do in addition to the sessions (such as prep work for the sessions, financial modeling, etc.)
- Travel expenses (if I will be traveling to your city for the initial session).
The average cost for VIP Business Coaching ranges from $12,000 to $18,000, but it could be more or less than that depending on your needs. (Please note that if you’re interested in financing this investment, I have partnered with a company that specializes in financing professional business coaching. More information can be provided after you apply).
MEET YOUR BUSINESS COACH, ERIN
Erin Armstrong is a Business Coach, Chief Financial Officer, and Tax Strategist who is on a mission to financially empower business owners. Her unique, comprehensive approach integrates all the financial aspects of your business (such as profitability, cash flow, budgeting, tax strategy and accounting practices) with an emphasis on developing a positive money mindset, so you can move forward in a confident, proactive and empowered way.
Over the past 12 years, Erin has worked with hundreds of businesses across the country as a Virtual CFO, Accountant, Tax & Financial Consultant, Business Coach, and Speaker. She’s also led business financial workshops in many major cities throughout the US. Erin is an Enrolled Agent licensed by the IRS. She lives with her husband and daughter (and their two dogs) in the Dallas area.