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098: A CA started a cafe retail & coffee roasting, sold it – now a CEO of an accounting & finance firm that helps business owners drive growth through outsourcing, working with 1000 clients of different industries & has 20 FTE. (Lachlan Grant)

In this episode, I interview Lachlan Grant, the CEO of Sidney-based Vital Addition, an accounting, and finance firm which specializes in working with small to medium-size businesses. They helped their clients reach their business and financial goals through modern and innovative approaches including outsourcing.

Before Vital Addition, Lachlan Grant founded a cafe retail and coffee roasting business in 2011. He developed the business from scratch, grew it into a multi-site café, and was sold. A few years ago, together with his business partner, they’ve grown Vital Addition which aims to help drive growth through effective financial management. Working with no more than 1000 clients of different industries and has 20 FTEs in the team.

Lachlan Grant believes there’s an inherent trust that an external advisor can provide, that is common in the finance and accounting world. He also emphasized that by outsourcing the business owner has more time to focus on generating income.

This Cast Covers:

  • The importance of proper management of core commercial & financial issues when growing a business.
  • Making more revenue for the business growth.
  • The importance of knowing the business what it is like.
  • The importance of streamline systems and processes.
  • Recommending potential clients to get access to higher skill sets.
  • The importance of having a well-documented finance function in running a business.
  • The role of an accountant or financial person in the growth journey of a business.
  • Common assumptions about outsourced business consultants.

Additional Resources:

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Quotes:

“When you start a small business, you always have to learn that you can’t really outsource commercial thinking, you gotta have that yourself.” – Lachlan Grant

“Make sure you have the right people around you.” – Lachlan Grant

“You need to be very clear of what you can and can’t do.” – Lachlan Grant

“I think small business owners do poorly in financial management because they tend to focus on the cost rather than value for the proper finance function.” – Lachlan Grant

“Sometimes you need to give yourself some inspiration to go off and do something and build something because it’s a long journey.” – Lachlan Grant

………………………………………… 

Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod (https://incompetech.com). License: CC by http://creativecommons.org/licenses/by/4.0

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098: A CA started a cafe retail & coffee roasting, sold it – now a CEO of an accounting & finance firm that helps business owners drive growth through outsourcing, working with 1000 clients of different industries & has 20 FTE. (Lachlan Grant)

In this episode, I interview Lachlan Grant, the CEO of Sidney-based Vital Addition, an accounting, and finance firm which specializes in working with small to medium-size businesses. They helped their clients reach their business and financial goals through modern and innovative approaches including outsourcing.

Before Vital Addition, Lachlan Grant founded a cafe retail and coffee roasting business in 2011. He developed the business from scratch, grew it into a multi-site café, and was sold. A few years ago, together with his business partner, they’ve grown Vital Addition which aims to help drive growth through effective financial management. Working with no more than 1000 clients of different industries and has 20 FTEs in the team.

Lachlan Grant believes there’s an inherent trust that an external advisor can provide, that is common in the finance and accounting world. He also emphasized that by outsourcing the business owner has more time to focus on generating income.

This Cast Covers:

  • The importance of proper management of core commercial & financial issues when growing a business.
  • Making more revenue for the business growth.
  • The importance of knowing the business what it is like.
  • The importance of streamline systems and processes.
  • Recommending potential clients to get access to higher skill sets.
  • The importance of having a well-documented finance function in running a business.
  • The role of an accountant or financial person in the growth journey of a business.
  • Common assumptions about outsourced business consultants.

Additional Resources:

…………………………………………

Quotes:

“When you start a small business, you always have to learn that you can’t really outsource commercial thinking, you gotta have that yourself.” – Lachlan Grant

“Make sure you have the right people around you.” – Lachlan Grant

“You need to be very clear of what you can and can’t do.” – Lachlan Grant

“I think small business owners do poorly in financial management because they tend to focus on the cost rather than value for the proper finance function.” – Lachlan Grant

“Sometimes you need to give yourself some inspiration to go off and do something and build something because it’s a long journey.” – Lachlan Grant

………………………………………… 

Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod (https://incompetech.com). License: CC by http://creativecommons.org/licenses/by/4.0

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096: Aged 25 in 2015, left his job as a personal trainer & health club manager, incorporated a ‘meal prep’ company and expanded operations into North Fla. in 2016, grew 2 FTE to 16 with an average annual growth of 18% for the whole 5 yrs (Jared Graybeal)

In this episode, I interview Jared Graybeal, the Founder, and CEO of Superfit Foods based in Jacksonville, Florida. Superfit Foods is a meal prep company that empowers people to live happier and healthier lives. They specialized in health, wellness, and fitness- providing healthy food as well as food delivery convenient, affordable, and tasty experience.

Jared Graybeal was a personal trainer and health club manager for 7 years. Superfit Foods was started in Lakeland, Florida in May of 2015 and expanded to Jacksonville in 2016. Grew 2 FTE to current 16 and 9 part-time drivers. A meal prep company has an average annual growth of 18% for the whole 5 years. And this year, they are aiming to reach 24% amidst a pandemic.

One of the values for a fast-growing business is the passion imparted by the team to the business itself. And that’s what Jared Graybeal said: “You must build a team that’s passionate about the mission, a team with a growth mindset.”

This Cast Covers:

  • Success is measured in the people they reached.
  • The hospitality of the customer service plays a big part of the marketing offer.
  • How standard operating procedures prevent unnecessary events.
  • Reading good business books and applying the principles on how to build a company.
  • The importance of creating an operating agreement from day one of starting the business.
  • Part of growing a business is sticking to the values and pursuing the mission.
  • Helping other people live happy lives and become healthier.
  • Building a team with passion and a growth mindset.

Additional Resources:

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Quotes:

“I measure success in the impact that we got to make in the world or in the community around us.” – Jared Graybeal 

“You must build a team that’s passionate about the mission, a team with a growth mindset.” – Jared Graybeal  

“In a business, there’s a need to have standard operating procedures for everything to avoid messing a client up.” – Jared Graybeal

“One of the business’ values you need to consider is to have exemplary customer service.” – Jared Graybeal

“One of the interesting journeys in growing a business is leading a team to stick to the values and pursue the mission.” – Jared Graybeal

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Music from https://filmmusic.io “Cold Funk” by Kevin MacLeod (https://incompetech.com). License: CC BY http://creativecommons.org/licenses/by/4.0