In 2014, a Latino owned tax service company was struggling despite having a large customer base in their LA neighborhood. A Plus Financial Consulting LLC was providing their bi-lingual community with professional services including tax preparation and filing, and all areas of financial planning. While they provided a needed service, their business model just wasn’t working. To meet the demands of the community, they hired more staff, but the company grew too big, too fast, and it became difficult to manage. The owners reached out to Orange County nonprofit, The Center, for help.
The Center provides charitable and educational holistic solutions for small businesses throughout southern California. The Center’s business consultants analyzed A Plus’s business and suggested they close and restructure. With $25,000 in funding, A Plus restructured, rebranded, and reopened. They reduced the size of their staff, and empowered their team of professionals by hiring them as independent contractors giving employees autonomy while still adhering to the company’s core values. They kicked off 2015 with a profitable tax season, and a just over a year later, A Plus Financial Consulting announced the grand opening of their second location.
When experienced professionals start their own businesses, they may be unprepared, and in some cases unqualified, to be in charge of all facets of a company’s operational needs. It’s impossible for one person to excel in all areas, but often small businesses rely on one person for all the answers. Nonprofit business consulting organizations like The Center exist because they know it takes more than a good idea to be successful in business.
“At The Center, we meet with our clients, understand where they are, what their challenges are, and together, we create a business plan that provides clarity on what their goals are, why they are committed to the goals, and how to get there,” explains The Center’s CEO, Maria L. Arakaki. “Once the plan is in place, we provide assistance as needed for execution.”
Setbacks happen, but throwing money at the problem is not always the solution, particularly when the problems stem from structural or operational shortfalls. Partnering with an organization like The Center is a good first step in understanding why your business is not operating to its fullest potential. If securing financing is part of the solution, small business organizations can help you find the right funding for your needs.
A Plus Financial Consulting reached out when they needed help. They knew there was a demand for their service, but operating the business proved challenging. A Plus had a good idea, they just needed help executing their vision. By partnering with The Center, they were able to get the guidance and coaching they needed. Today, A Plus not only continues to offer a valuable service to their community, but now they are also operating a profitable business.
A Plus Financial Consulting can be reached at:
7333 Atlantic Ave Ste. F Cudahy, CA 90201 (323) 537-8806
EAST LA LOCATION:
5161 Pomona Blvd. Ste 110 Los Angeles, CA 90022 (323) 685-2158