What is Crystal Ball Consulting

Strategy - Cooper CPA Group will assist clients with the identification of a defined strategy. If additional resources are necessary, we have excellent connections through our vast network (www.forwardresults.com) to assist in creating a strategy that will allow for accelerated growth. Your starting point should always be a defined strategy to develop a sound foundation for accelerated growth.

Operations plan - Based on your infrastructure, your strategy, and your expansion plan, we will assist with an overall design and foundation that will allow for your planned growth. Planning is critical to establish a target to meet your expectations. This process can be extensive and we do have substantial resources through our network to assist you with your painted picture.  The painted picture identifies where you would like to be in five years, not necessarily how you are going to get there.

Systems - You should have adequate systems that will allow for your planned growth. This begins at the boundary where all information enters your infrastructure. Subsequently, your systems should allow for an efficient and effective flow of information for you to manage your business and lead your team. We have resources to assist with custom proprietary software or our ProAdvisors we can assist you with your QuickBooks.

Consultants - You should establish banking relations with an institution that will allow you to grow based on your strategy and operations plan. It is important to have a banker that you can contact upon a need to answer questions, provide working capital, and assist you with managing your financial future. Debt capital is a very important component of growing your business.  We can assist with introductions to various bankers and the preparation of a capitalization plan.  We can also identify and analyze your collateral base and determine how much you should request in term financing and for a line-of-credit.  

Recommend Legal Counsel - Legal counsel should assist you with all contractual agreements, employment agreements, and with setting up your legal structure. It is critical at the inception of your business to establish a structure that will allow for growth and minimization of Federal and State taxes. 

The Team - Legal counsel, a banker, a risk management consultant, and a CPA should assist you in all aspects of business and become your advisory board.

Financial reporting - We will assist you with establishing a chart of accounts that will allow you to understand the framework, activity, and results of all actions that occur within your planned infrastructure.  It is critical from the beginning to map out a chart of accounts in the general ledger where information may be interpreted and used to make sound business decisions.  Financial reporting is something that should be used both internally and externally to navigate your business to success.  We have an excellent team of QuickBooks ProAdvisors that can assist with this process. Forwardresults.com also has excellent IT consultants to assist with system stability.

Using financial data - We will be your coach and teach you how to read your balance sheet, income statement, and statement of cash flows.  We will teach you to drill down on the primary numbers in the general ledger to gain a better understanding of your business activity.  This can allow for sound timely business decisions that will assist in a successful growth pattern. 

Cash flow – In small business having cash is critical.  We can assist with establishing a cash flow analysis and forward-looking projection to determine where your cash comes from and where it is spent.  This analysis requires the combination of a balance sheet and income statement accounts to determine the true ins and outs of your cash flow and use.

Segments or Classes - Your financial data strategy and operational plan should provide sound information for you to determine if byproducts or other services can be born from your primary business.  These operations are typically called segments, and in QuickBooks, referred to as classes.  This will allow for substantial growth through sister companies and also allow for vertical integration.  You should be able to measure your business operations by revenue source or business segment.  You could have business operations that require considerable resources that do not actually generate cash flow. In some cases, possibly a cash deficit. 

Geographical reach - Upon establishing your strategy, it will determine potential growth throughout the United States or internationally, if possible.  These ramifications will be built in your strategy and operational plan and in the construction of your overall business plan.  When you plan growth outside of Texas, we have the resources to define State law and how to arrange to file for the right to do business in each state.  Similarly, we have resources to assist with international growth and the benefits of exporting products and services. 

Tax compliant planning - It really does not matter how much you make, what matters is how much you keep.  It is typical that Federal and State taxes are one of your largest expenses.  We will provide substantial tax planning to allow you to take full advantage of the tax laws. We pride ourselves on being tax consultants versus mere processors.  It is important to create a tax plan that may call for acceleration of expenses or deferral of revenues.  You should also consider a capital expansion plan when the IRS allows for bonus depreciation and the utilization of Section 179 to accelerate depreciation. The tax laws are voluminous and require expert attention to detail. We believe through proven tax strategies we can assist with minimizing your taxes.

The tax compliance and savings we have identified will benefit you presently and with your future growth. The beginning of this process allows for establishing the correct entity structure wherever their business operations are located. The tax laws, sometimes, do not meet the common sense test. Before you implement the growth plan, it is critical to establish the correct entity structure to minimize taxes and accelerate growth.

Cooper CPA group is well equipped to assist businesses through all aspects of their planned growth. We pride ourselves on being an entrepreneurial organization and having a vast network of professionals who will assist in all processes of your growth. We look forward to assisting you with your future financial success.

Growing a business requires a strategy, a well thought out plan, and diligent execution. 

Tyler Gillespie