Supporting successful founders as they rapidly scale their company
Dannie and Jane are an inspiration to female creators everywhere. They are the co-founders of a content marketing agency that started as a free-lance side hustle. Dannie is single and in her late 30s. Jane is in her early 40s, recently married with a new baby and two step-sons.
Dannie and Jane initially met while working at their first marketing jobs — Dannie was a marketing coordinator and Jane was a graphic design intern. While freelancing on the side, they joined forces to start their own agency. They realized early on that they were creative "soul-mates" and started talking about starting their own company within the first few months of working together.
As joint owners in a cyclical industry, Dannie and Jane know that cash flow is the lifeblood of any business. They are concerned with how to bridge the gap between the working capital needs of the business and how much personal money to reserve should the economic climate change. They are also considering hiring additional staff and want financial guidance on the best approach.
Dannie is a single women and the agency is her only source of income. As the company has grown in size, so has the amount of her tax bill. She is worried she is not being proactive enough to optimize her personal tax situation.
Jane's parents were successful, but went through tough times when her dad died unexpectedly. She knows the more wealth you have, the more you stand to lose due to an unexpected event. Jane is concerned about the financial impact to her growing family should something happen to her.
Dannie and Jane are seeking experience and wisdom on coordinating their personal finances with their business so they can focus their limited time on the creative aspects of the agency.
Truman Wealth Advisors helps entrepreneurs with both business consulting and personal financial planning needs. We help creators and builders strike a balance between risk and opportunity.
Dannie appreciated how Truman Advisors helped her tackle the challenges of her increased tax liability. Reducing the financial stress with smart tax strategies has given her more time to focus on business development, which is key for the agency's future growth. She valued how Truman Wealth communicated and coordinated with her accountant and the agency CFO to implement an approach that was optimal for her..
Jane learned from Truman Wealth Advisors how it is not uncommon for an owner to solely focus on business finances and neglect their own personal finances. She was pleasantly surprised by how the detailed, comprehensive process Truman Wealth used identified gaps in her personal risk management. Knowing her family is taken care of has enabled her to embracing taking more risk with hiring additional staff in the business.
Working with Truman Wealth Advisors gives you the freedom - and confidence - to make your entrepreneurial vision a concrete reality.
For privacy reasons, the case study described above is hypothetical and the facts do not apply to an actual Truman Wealth client. This planning case study should in no way be construed as a guarantee that a current or prospective client will experience similar results or levels of satisfaction if he or she engages with Truman Wealth for wealth management services. Every client experience will differ. Future results cannot be guaranteed.