Almost half of all small businesses experience some kind of accounting theft – which costs them an average of $114,000 per occurrence. On top of that, only about 5% of small businesses have accurate financial statements. With statistics like this, it’s clear that there’s a lot that is going wrong in the accounting departments of smaller businesses.
But our guest Matt Garrett, founder and executive chairman of TGG Accounting, has found a way to deliver accounting services to small business that you typically only find in bigger businesses. Matt is a lifelong entrepreneur who started TGG because he saw so many businesses failing. Too many of them are missing accurate numbers, accountability, and reliable accounting systems.
In this episode, Matt shares some great information on how his team overhauls accounting departments, bringing accuracy and safety back to businesses. He also shares tips for entrepreneurship and his experiences building a business with a focus on nailing details and bringing on really great people.
What You’ll Learn:
- Why so many firms receive inaccurate financial statements and are highly vulnerable to accounting fraud.
- The types of information large businesses have access to that smaller businesses may be missing out on.
- Why timely and accurate accounting information, as well as levels of checks, can create a much safer and successful business.
- What TGG specifically does to train and rebuild accounting departments.
- How TGG has improved the accounting of the businesses they work with – to a point where there have been 0 instances of fraud or theft since they began 10 years ago.
- Why they have been so successful using mainly word of mouth and the success of their clients to generate new clients.
- What the main key to the success of TGG has been.
- Why their steady and slow growth goal is so important to the quality of work they do.
Resources for this Episode:
- Matt Garrett: Blog | Twitter | Facebook | LinkedIn
- TGG Accounting
- TGG University
- Association of Certified Fraud Examiners
- USD Accounting
- Considine & Considine CPA
- TAG Accounting
- Signature Analytics
- The Great Game of Business Conference
- Redefine Health & Fitness
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