Welcome back to the business coach Thrive time show studios in the box that rocks it is number one CPA in every way. It’S time to take a look under your financials with Paul Howe. So don’t be asking me why I brought down 918 people in Oklahoma, who are feeling great today is a great is a great day. It is the only day that we have guaranteed in today. We – maybe maybe you don’t even have the whole day.. Maybe it’s some sort of Armageddon kind of thing. Maybe you get called up to having this afternoon. Maybe maybe today is is the final, The Final Countdown or maybe you’re going to be here for a long time. It’S important that you live as though you’re not going to be guaranteed tomorrow, but you’re planning as they’re going to live a long time and have to work today. Show starts were talking about a look under the hood with Tulsa’s number one CPA, Paul hood of clit Clark on the host of the Thrive time show you can hear it everyday from 12 to 2. We also have Paul hood on the show each week. Cuz he’s a wealth of knowledge that they just don’t teach in college today. We’Re talking specifically about the beat me be proactive approach to accounting and Paul. It is so important that everybody listen to the show. They understand the right investment vehicles and the right kind of advisor there. So many Financial programs out there there’s a lot of get rich, quick stuff which, by the way Proverbs 13:11, doesn’t think it’s a good idea to get rich, quick and if you, by Tuesday, you know there’s a lot of. If you put money into this house, I can get you a 20 % return by next month. There’S a lot of hay on my butt Mike. I don’t know what guy he needs a ,000. You put money into his thing, it’s very complicated, but all the for the reality is, you can auto-ship some soap and some various things get sent to your house, but you were going to get ahead of the lot of that stuff out there. But what are some real Financial vehicle talk to me about what real Financial investment vehicles look like a good morning is a great day here in this section of the book that we have, that we go over to our workshops every other month is everything? Is an investment and I don’t care if it’s real estate, if it’s a close in your closet and in what are those Investments, do the thing that that upsets me in the reason we get heavily involved in this area with our clients is? Is the cookie cutter approach to find at most places cookie cutter cookies were talking about? If you up, if you go to say an insurance person, I can tell you pretty much what kind of financial Vehicles you have if you go to a stockbroker, if you go to somebody, does mutual funds are some of the major named retail type of money managers And I don’t care if you’re 8 or you’re 80. You come in to me and if I, if you tell me who you work with most of the time, I can tell you 75 or 80 % of the investment you have and it’s it’s what they sell and that’s what they’re there higher-ups push down to him.
Clay – and so you know, everybody is an individual – you can’t design a financial plan that is a cookie cutter approach to that everybody gets at the odds. There is really should not be that the McDonald’s in financial planning, if you will take it to here’s the thing when we put somebody, is listening and they feel like financially they may be – are sitting on ,000, maybe they’re sitting on it’s a it’s a business coach realistic, ,000 And then there’s somebody else: listening really hasn’t saved any money yet, but their late twenties, early thirties, you, like they’ve they’ve, had a job there working somewhere and they they just. You know they put me some money in the bank, but they’re not really investing in anything. The first step is a really need to schedule a one-on-one consultation with you, and so what you’ve done too sore to make it easy to kind of create? I need others called when you have an emergency exit on airplane. There’S those fun little slide. You can go down where, in all the sudden, you’re off the plane and you kind of created at a slide like a fast path, and so what you have to do, those you got to go to hood CPAs as the first step. Why don’t even use the internet on the weekends? Typically, I like to just stay offline, okay, fine, but you got to go to hood cps.com on the internet, who’s going to watch Netflix, while you’re on the internet when you’re watching Netflix – I don’t know my smartphone. I don’t know: go to hood cps.com the when you get there Paul break it down. What are the weather was Step 1. What is step two words that look like if I want to meet with you for the first time and see what to do with maybe ,000 or see what to do with me that money that I’m kind of setting it aside and just a basic Bank savings Right now, where the first step is to get serious about and try to figure out where you want to go and then go to hood cps.com, there’s a little short intro form two or three little entries, one of our state and one of our staff will contact You to set up your free time or you can call us at 918-747-7000, and I wave offices in Bartlesville, tulson, Claremore and the first thing we’re going to do is: ask you why you have certain things in and what year what your goal is. When do you want it? When do you want to spend the money? What’S the money for is it for long-term? Is it for emergencies? Is a for college, but have enough money in the bank Financial Freedom right, everybody! Everybody wants to have enough money in the bank and they can go into Whole Foods and buy some avocados and not worry. Where they’re going to have the money to do what they want to be able to. You know, maybe put their kids in college. They want to retire with some money in the bank. They want to be able to live life. You know the way you feel when you’re laughing at a joke. People want to be able to live life. The way Michael Jordan played basketball in the way Marvin Gaye sing a song. They want to be able to be financially healthy, financially confident, and so, if I’m listening, I want to be financially confident. That’S good, that’s step one, but what the problem is. Is it? According to the defender or Reserve they did, a study was published in the Atlantic. The average American, regardless of income, has or less saved Paul your CPA. You work with thousand thousands of clients who have thousands of client to get a CPA for over 30 years. How is it possible that 8 out of 10 businesses are failing and that the average American is less than 4 Dollar Tree knees saved? How is it possible as possible, because to be unsuccessful, financially, is really really simple. You just don’t plan for you. Don’T do anything. Just show up and then all the sudden you at you look around in your your your 50 years old and say: oh, my gosh, I’m going to have to quit working at some point in time they going to make me tickets are winning, oh and, and so We have to be delivered the average. Just discussing like so we Warren Buffett in his book Snowball Effect. He talks about us when in the ovarian Lottery and did you know Clay tell when Warren Buffett first became a billionaire, he still drove an 8 year old Cadillac and lived in a ,000 house. I would not doubt that he was delivered and he took steps and it’s not hard to be successful. Now success for different people. You did you have to Define your own level of success and but that’s the key and we puke and who better to help. You save money or to invest money than then. I CPA that the end for sleet taxes end up being about 45 to 50 per-cent of of where you’re out clothes go yeah. That’S where we start is. How can we save people taxes when you have a job or whether you own your own business? What are you spending money on personal and, let’s be deliberate and us to find your goals, but you got you know the first step plays. You got to be serious enough to get on the internet that thing and go to hood cps.com and I get in and make I’ll dedicate an hour for your financial future. If you will hear is the the issue, I think there’s a lot of people that aren’t going to book an appointment today because there’s thirst for objections that I hear all the time from people who are now using you and bragging. But this is what I said they didn’t switch. One is their wife, their spouse, their dad. Someone related to does the r accounting, and I’m going to tell you this. This makes no sense.
This makes no sense., As example, I am V worst, the worst mechanical person on the planet. Right there is nobody who has less mechanical skill than me as an example during Thanksgiving. I thought you know what I’m going to ride my son’s mower. How hard Could It Be I’m going to go out there, I’m going to mow over the leaves, and I’m going to you over, remove the leaves as a way to give back and show my engagement with the family as a way to just have a fun old Family time and I my son, he be walks up next to the mower and he says I doubt it’s smoking. What would you do that mean CC Predator? How do you do a time? Is it possible that you do it? Why I put the lawn mower on the lowest possible settings and ran over on leaves, and apparently I set them on fire, so it’s a flame in the front yard Flames everywhere. On my car right. I just got off Arby’s trying to help me put out the fire light and it’s just it’s getting out of control. What is it where you, where you moan with a flamethrower in the moral of the story, is, if you see somebody by the name of clay Clark, it’s me or you hear of someone who has a mask on you say, is that you play and then they Say it’s not me, I mean if you get the inkling in the feeling that clay Clark is mowing your lawn. Don’T let me volunteer, don’t let me help you end up going to the same church as you and you have. I got hey. Let’S go update the parsonage day and you want some guy to help business coach paint or to fix a shelf. If that person is me, do you do not want that to happen? I will destroy that shelf and I will try to do a good job, but I just don’t have the prerequisite skills to issue number one is. Somebody is married to the account dating the account under friends, family friends of the year Paul. Why is it so dangerous to stay loyal to dysfunction? Well, it’s either it can be dangerous. It with I’ll. Tell you this play the fix for that is we don’t have to do everything for everybody we can come in and and if your account is it is willing, we can actually work with them or we can. We can pick up where they leave off. We can help you be proactive and let them do the the reactive stuff. Second reason: people don’t reach out to you to say I don’t have time yeah. Well, that’s! So nobody has time for anything play. I mean it sad that I hate that excuse. We all have the same amount of time, and you know what Warren Buffett wooden special he just was delivered it, and you know, I’m not saying people need to be billionaires would be great to be a billionaire. How big of a car would you have to have got to be? How big of a car I mean at Sonic in my car street legal? So so you define your success in and make sacrifices where we need to go, and then we talked about short-term pain equals long-term gain. But really the pain is not there. It’S it’s. It’S it’s the joy of being successful and so make the time, and everybody has the same amount of time – make the time B6 be serious enough about your financial future. Make the time to go to bed cps.com reasonable. Three people don’t reach out to these accounts that don’t do flat fee accounting and every time you call that person for a blasty blast for a festival of a counting every single time. You call them even if it’s like a 4 minute call, you be around it up to the half hour and you get a bill every time it so you’re. Just you, don’t you don’t want to meet with Paul cuz you’re, like probably go to be charged the whole bunch of money, I’ll probably end up sleeping with the fishes, I’m probably get attacked by a LED pipe. That’S probably going to be at in super intense multi-level. Almost like a timeshare sales presentation, I don’t want it to happen. Well, we don’t. We don’t play those games. So yeah you just go to my website. Hood cps.com set up a time or call our office 918-747-7000. It’S completely free.
There are no hidden games, we’re not trying to sign you up for anything, and but we do favor fix the arrangement for business owners Bixby Arrangement. Is you pay just to level feet and actually ends up being generally less than what they’re paying some place else? People might be saying I hate money, I literally hate money, I’m a. I am a completely sold out Communists and I will tell you: there’s nothing more.. I hate that money. You give me money, I go. I don’t want money, you know why. I don’t like money because I hate money. Money is the root of all evil money is, are you know it’s like the love of just? I don’t even know the Bible verse. But the point is, I just like to say that money, it’s just it’s with the bad, and so I don’t even want it, and so hood is going to help me keep more money and that’s why I don’t want ohmygosh yeah. Well, if that’s the case, then we have a list of a charitable organizations that we do business with them or we can help you pay my head Charities to do where was like. Well, if you’re coming this weekend, help you make all kinds of money, so you can give it away to the carpet. It’S all that other people that aren’t willing to work can can you can take advantage of that? Can help you if you’re coming right now. It is up to you to make the decision. You’Ve got to go right now to hood cps.com and schedule that one-on-one consultation at Hood CPAs. Somebody says: what’s that website that hooded cpa.com somebody else says: why are we Whispering? I don’t know if you’re going doing it at cbs.com schedule a consultation to get a free copy of Warren Buffett’s book snowball, snowball, snowball, it’s his only authorized biography, get it now and put CPAs. Com. Have you ever found yourself running out of money before the end of the month? Are you saving enough for retirement? Are you getting ahead financially Tulsa? If you need 200, you come to the right place. It’S a look under the hood with tonsils number one CPA and every way, Oklahoma. Welcome back to look under the hood with Paul Hood, Tulsa’s number one CPA and every way to the show for the first time what we do is we take a look under your financial Hood once a week once a week every weekend, we’re here right here on A look under the hood with Paul Hood, my name is Clay Clark and the co-host of the Thrive time show what you can listen to every single day from 12 to 2, and because so many of you love Pyrenees sweet voice of mr. Paul Hood. We have them on the show once a week as well, Paul Hood, my friend, how are you doing? I could not be better clay. I tell you, I’m I’m loving life love and it’s almost Christmas. It’S almost tax season. It’S almost time that we get to go to battle with the IRS, not say that, because I know what how hard people work for the money they make and unfortunately, 50 % of your money clay goes to the government and I don’t think they do. The right thing with it, I think, we’re better stewards of our own money, we’re better at reallocating our own money and I’m real passionate about helping people, save taxes and save money. Will this week and last week and the next this whole month of December, we’re going to want to break it down to this specific Financial moves that every single entrepreneur, every single employee everyone needs to do. Okay, we just talked about in the previous segment, find the right investment vehicle on the right is advisor for you, but now, but now that we need to do is we need to know how to accurately price our products and services if we are, if we aren’t Entrepreneur entrepreneur, according to the small business administration, huge data over the last 15 years, do you know that over 60 % of the jobs that have been created in this country have been created by small businesses?
I’M talking about people with 50 employees or less are creating 60 percent of the jobs I mean. So you talk about your big engine of the economy, to small businesses, and it’s so important that you know how to accurately price your products and services. How much cereal should, I think, you’re trying to price your products and services in what you do? Is you take the price of the product and then you eat or the price of the service would cost you and then you add, on about a 30 % profit margin. Cuz, you don’t acknowledge your customers and you move on and what you’re forgetting about are those hidden costs there so many those hidden cost. You know, there’s the workers comp there’s that lost that you didn’t for shrinkage due to theft. There is Paul I mean so important that people sit down with an accountant like you to really line item out. All of the expenses related to their products and services were the most people kind of get that wrong unfortunate. What we find out Clay is a lot of people price their products, almost out of fear, all my gosh, I am I going to let you know what to set somebody so they’re afraid of insulting people. Are there fraid of hurting people’s feelings are afraid of losing business and you can’t live life based on fear? You don’t want to that’s. Okay, there’s a thousand more of those folks, so you know you got to be a proud of what you do. You’Re spending that you and your showing up everything you’re working hard, you’re working 67 days a week and and so what we do is we go through and we try to find the real cost of everything. So I think you’re right on track play the 30 %. 30 % is a good profit margin, but but 30 % of what you know. How did you got to you got to know exactly where your money, I don’t know how many times it’s just over and over and over and over people say it? What shows we made money, but where does all gone? They don’t know where their money went, and so we help them identify where their money is gone and help them control that and help them price their products right. I have a story that I want to share from a business coach client that you’ve been able to help, and I just want to. I want to share the specific example and give all the details away, or I will say this particular client is more of an industrial business and what they found is they were off on their numbers of the numbers. Did the costs of creating their products by just a little bit, but the problem is when you have a multimillion-dollar business and you’re off by just a little bit: let’s, let’s, let’s, let’s, let’s take this this. Kind of put it into like a terms of space, we’re Going to the moon and we’re going to the moon and the code, the coordinates we type in. We punch it in. We, we say Scotty. Are you ready to give you any more power in your Scotty Cooper? The crap just give me some more power Sulu. You know Schuler, you ready to do this and Sulu basically just has that little throttle he pulls up and down. You know sisulu, and then you always just listening to music on Spotify Spock’s like this is why I took the whole crack Squad of geniuses. You got bones: dino bones the doc. This is all start Star Trek references but he’s like he’s, always angry about something when we got him focused and then I sit back in the chair and I’m like I O. Let’S Do It we’re taking off and we’re off. We put in the wrong coordinates we we might end up with the moon at all different place than what we thought it would help a little bit. Are you doing this with your accounting? That’S right, you’re off by 3 % and it’s a million-dollar gross revenue that could represent for somebody and if it was 10 % right it would be a hundred thousand ok. So it’s not bad. It was in 5 %, it be 50,000. So what I want to ,000 a year difference that you have been able to make it a business simply by getting them out of the business and working on the bestest ever working in the business. You have to work on the business line item out there real costs of making their real products and services. How do you do that? What is that process look like, and if I want to meet with you, how do I? How do I begin or call you think everybody would notice if they were missing ,000, but the reality is is kind of like if you you know, and I like guns, I like to target practice and we talking yeah we’re good stuff so, but if, if I’m Shooting at a Target, that’s 3 feet in front of me: the variation that I’m off isn’t significant. But if that Target is 100 yards off, if I’m off, just even the slightest, I’m going to miss the Target in, but I don’t notice that how much I’m off until I miss the Target, and so what people do is. Is that slip it true that that if they don’t let you know they’re so busy, creating business and worry about employees? And where do I go and where do I advertise and they don’t notice on my gosh, I’m off, because they’re always looking backwards, and so what will do is will help them get out business coach step back. Look outside there an end as they need a business coach like you play, as is to help them create more Revenue. Our job is to help them keep more, save more and protect more, but it’s that little little adjustments that you don’t really feel on a weekly basis, but all of a sudden at the end of 52 weeks, it’s a massive infection to listen to this. Listen to this nation, okay. 1170. Folks, want you to understand. I want you to get this deep into your cranium into your soul. I want you to understand it. You measure what you treasure bottom line.
You measure what you treasure and you can never get better until you measure what you treasure. I repeat, you can never get better until you measure what you treasure there’s so many of you out there that are working hard. I know you’re working hard. You are getting up as early as possible, you’re going to be 4 a.m. 5 a.m. I run into you, folks, a cutie all the time I get. I get up crazy early like to wake up at 3 a.m. I love to get to the office. Cuz work is My Worship, but I love it where to have a lot of fun, but I am serious. I love working, it’s a lot of fun, but you’ve got to have an accountant who’s fighting for you to make sure that you’re saving that money. You know that, just by filing a business under the wrong entity type, you can be paying double the taxes that you should. We do. You know that what time do the finals of the wrong type of business entity? That down that’s another example of nowadays. You know the popular thing is set up. An LLC in the funny thing is most people understand that the IRS done recognize. An LLC is a business entity, and I saw when somebody says, I’m an LLC, I said. Well, how are you taxed virtually no 9 out of 10? If you could never 1010 will tell me, they don’t know they’re there an LLC, but they don’t know cuz, that’s what the cool thing or the latest thing, and and probably a positive thing to do. But you have to go a step further in and I tell the IRS how you want to be Tagged, so you going to be reported, but what I did is I went to run line to legalzoom.com and I bought myself about 18 beers and soy formula. She right there. Why was doing the drinking the beer? She was awesome and it was a great time. I had a little bit of a barge little bit of an LLC and I put on my business card. You know what said Al’s LLC and now I’m protected. I’M saving money, I’m a genius, I mean that’s how it works, but doesn’t work that way. I know I assumed you your name that LLC 18 beers, LLC 1817 Dale straight up you’re, making a Christmas offer for all the listeners. I would say that this was about a value break it down. What are you giving all the listeners and how do they take advantage? No money, there’s no catch, hear you, but the reality is, is that may be the cost, but the return could be as a hundredfold. I can’t take it one hour of free time, come and talk to us about how you to find a success in, and we will show you definitively at what we can do to help. You were also giving away Warren Buffett’s book the snowball, and, if you want to think outside the box, you you want to be successful financially when the average person is not. You got to think different and that’s the first step great step to figure out how to think different, how to think like a a person that is successful. So what you need to do is go to hood CPAs. Com once again that hood CPAs, I’m sorry! I was when you were saying hood CPA. how much pop myself another business coach beer. That would be my 19th dear. I. What was that website again, it’s hooded CPAs when you get there, what are we can’t you get? A free copy of Warren Buffett’s only authorized biography. The book called snowball and a one hour one hour of Paula, he’s going to pump you up and teach you what you need to do to build huge financial muscles. You got to go to hood CPAs and schedule that consultation today we are super excited about your financial future. Make this a December to remember, go to hood CPAs. Do not delay. Cbs.Com will see you next week, Feliz Navidad