IE Business Daily Business news for the Inland Empire.
On this week of “Professionals of the Inland Empire” podcast, certified public accountant Craig Dart and Business Broker Soeren Aarup join host John Tulac to discuss the role of professional networks in growing business.
Craig Dart, a CPA for more than 25 years, operates his own practice serving contractors, manufacturers, and distributors with comprehensive accounting and tax services. He emphasizes that accountants act as crucial advisors, helping business owners understand financial statements, cash flow, and the implications of various accounting methods (cash vs. accrual) for better decision-making. Accurate record-keeping and a strong financial foundation are essential for realistic business valuations, as many owners tend to overvalue their companies.
Soeren Aarup, a business broker, transitioned from aspiring CPA to advising businesses on growth and readiness for sale. His experience includes significantly improving profitability and achieving tax savings for a tire recycling facility. He stresses the importance of defining exit strategies, conducting regular business valuations, and aligning growth ambitions with sale preparation.
Both professionals underscore the critical role of collaboration among advisors (accountants, lawyers, brokers, IT) and the necessity for business owners and startups to secure professional help early. They conclude that understanding one’s end goals (as per Yogi Berra’s quote) and utilizing local professional networks are vital for strategic planning, optimal business operations, and successful exits.
The PIE podcast aims to showcase Inland Empire professional talent, foster local economic development, and highlight the Provisors networking community. Catch the full show on YouTube @ProfessionalsofInlandEmpire.
