We previously learned how Danielle Drevlow’s Golden Valley door knocking sales strategy worked to launch and build her certified public accounting firm. See episode 28, Door Knocking and Flyer Dropping, Does that Sales Strategy Still Work?.

In our second mentoring session, listen for how Danielle solves the dilemma of servicing over 400 clients, and organically emerges a family business model.

How are engineering and accounting related? And, is the answer tied to Danielle’s family business model? We plunge into her unique perspective on how she and her husband, Corey, are building a family-owned business with their 7-year old and 9-year old children.

We leave this mentoring session with accounting and bookkeeping tips for you. And, what we will discuss in future episodes. Download This Episode

Mentoring Tips:

Get your bookkeeping practices in order. Start with figuring out your filing system. If you keep everything online and pay bills online, answer the question, what do you need in hard copy? Where do you put the paperwork? File folders still work.

Organize folders to hold your income and expense receipts, or use monthly envelopes to store the smaller receipts. At the end of the tax year, organize the receipts into a yearly envelope for accountant, and then place in storage area: a box or cabinet.

Tips from Danielle:

1. Staple receipts to invoices.
2. Create Vendor folders by year.
3. Keep checking accounts and savings account expenses on credit cards separate.
4. Keep tax documents and supporting documents 7-years.
5. Keep tax returns forever, but after 7-years, get rid of support documents.

An Organic Family Business Model That Works, Episode 32

 Next Monday’s Mentoring Conversation:

A second mentoring session with Mary Hayes Grieco in the studio. She is the founder of The Midwest Institute for Forgiveness Training and the author of The New Kitchen Mystic: A Companion for Spiritual Explorers and Unconditional Forgiveness: A Simple and Proven Method to Forgive Everyone and Everything.