Chris Hervochon discusses his approach to helping his clients create a business growth plan for a successful future.
Listen to the interview on the Business Innovators Radio Network
Questions covered in the interview include:
- How can an effective accounting system help an agency owner grow their business?
- What are some common data points agencies have access to that are underutilized?
- What are the core functions and features of a proper accounting system?
Hervochon explained, “As an agency, you have access to a lot of data. But are you using all of it to its full potential? There are a lot of common data points that agencies have access to, but many of them are underutilized. By using all the data available to you, you can better understand your agency’s operations and make more informed decisions about its future.”
Here are just a few examples:
- Revenue data: This can help business owners track how much money their agency generates and where it’s coming from. This can be especially useful for budgeting and forecasting purposes.
- Expense data: This can help business owners track where their agency is spending its money and identify areas where costs can be reduced. This can be especially helpful in creating more efficient budgets.
- Employee data: This can help business owners track employee productivity, turnover rates, and training needs. This can be especially helpful in managing the workforce more effectively.
- Client data: This can help business owners track client satisfaction levels, project success rates, and areas where their agency can improve its services. This can be especially helpful in ensuring that their agency provides the best possible service to its clients.
- Market data: This can help track things like industry trends, competitor activity, and potential new markets for an agency’s services. This can be especially helpful in planning an agency’s growth strategy.
About Chris Hervochon
Chris Hervochon, CPA, CVA is the sole proprietor of his own CPA firm, provides outsourced accounting and tax preparation services primarily for marketing and creative agencies. Before founding his firm, Chris spent ten years working in forensic accounting and corporate accounting and finance. He has been featured in numerous publications, such as the Journal of Accountancy, Accounting Today, AMEX Open Forum, Parakeeto Podcast, The Agency Management Institute Podcast and the Digital Marketing Agency Builders Podcast for his industry knowledge and accounting expertise.
In 2018, Chris was one of only 41 CPAs honored by the American Institute of CPAs (AICPA) as a member of the Leadership Academy’s tenth graduating class. He was selected based on his exceptional leadership skills and professional experience for the four-day Leadership Academy program, which he graduated from in October 2018. In 2019, he was selected as one of CPA Practice Advisor’s 40 Under 40 and has held this designation for three years running.
When he is not helping clients build and grow their companies and agencies, Chris enjoys spending time with his wife and three young kids, playing golf,
obsessing over efficient workflows, listening to Metallica, and rooting for his beloved Philadelphia Eagles. Every April, you can find him on the 18th hole of Harbour Town Golf Links volunteering as a Marshall at the PGA Tour’s RBC Heritage event.
Learn more: https://www.betterwaycpa.com/