Wealth Building for Start-Up Entrepreneurs

The Challenges. The Opportunities. The Focus.

According to the U.S. Bureau of Labor Statistics (BLS), 65% of all new businesses fail within the first ten years. However, building equity in a company is arguably the best way to create a better future for your family.

At Breakaway Financial Group, we understand entrepreneurs’ unique challenges and opportunities when starting a new company. Our mission is to provide the tools, guidance, and support needed to build strong, lasting wealth through your business. As you start your business, you are facing distinctive challenges. It is important to focus on structuring your business for success and focus on revenue growth. We are here to help you succeed every step of the way.

Our team possesses extensive knowledge in accounting, tax planning, financial planning, investment strategies, and business development. With personalized solutions tailored to your specific goals, we empower you to make informed decisions and maximize your potential, instilling a sense of control and confidence in your financial journey.

Join us on your path to financial success and discover the Breakaway difference. Together, let’s guide you and transform your entrepreneurial vision into lasting prosperity, sparking hope and inspiration for a brighter financial future.

Ready to Transform Your Financial Future?

Don’t let the statistics deter you—let them inspire you to seek the right support. At Breakaway Financial Group, we are committed to helping entrepreneurs like you achieve lasting success and build wealth.

Schedule your free consultation and discover how we can help you navigate the path to financial prosperity. Together, we can turn your entrepreneurial vision into reality.

Case Study: Turning Challenges into Success

The Journey of Startup Entrepreneur Skyler West

Background

Skyler West had always dreamed of running her own business. With a passion for sustainable fashion, she decided to launch her own eco-friendly clothing line. While her vision was clear, the path to turning her dream into a profitable, scalable business was fraught with challenges.

The Challenges

Pricing for Profit Margin: Skyler struggled to determine the right price for her products. She wanted to make her clothing accessible but also needed to ensure a good profit margin to sustain her business.

Setting Up the Business Properly: Navigating the administrative maze of setting up her business correctly was daunting. Skyler needed guidance on choosing the right business structure, registering her business, and ensuring she complied with all legal requirements.
Staying Tax-Compliant: Taxes were a significant source of confusion. Skyler was unsure how to stay compliant, what taxes she needed to pay, and when they were due.
Setting Aside Money for Taxes: Skyler knew she needed to reserve funds for taxes but was uncertain about how much to set aside. She worried about unexpected tax bills that could jeopardize her cash flow.
Ensuring a Scalable Business Model: While Skyler’s initial sales were promising, she was concerned about whether her business model was scalable. She needed a plan to grow her business sustainably without compromising on quality.
Revenue and Profit Concerns: Like many entrepreneurs, Skyler was worried about having enough revenue and profit to not only keep her business afloat but also to provide a comfortable living.
Budgeting for Business Development: Investing in business development was essential for growth, but Skyler was unsure how much she should budget for marketing, new product development, and other growth initiatives.

How We Helped

Our company stepped in to provide Skyler with a comprehensive support package designed to address each of these challenges:

Pricing Strategy: We helped Skyler develop a pricing strategy that balanced competitiveness with a healthy profit margin. This included understanding her costs and how to price her products to attain targeted profit margin.
Business Setup Guidance: We provided step-by-step assistance in setting up her business. From selecting the appropriate business structure to registering with the necessary authorities, Skyler received clear, actionable advice.
Tax Compliance Education: Our team educated Skyler on tax obligations, including sales tax, income tax, and any industry-specific taxes. We also introduced her to accounting software to simplify tax record-keeping.
Tax Fund Allocation: We helped Skyler create a financial plan to set aside a percentage of her revenue for taxes. This ensured she was prepared for tax season without disrupting her business operations.
Scalability Plan: Working closely with Skyler, we developed a scalable business model. This included streamlining production processes, exploring new sales channels, and planning future growth stages.
Revenue and Profit Management: To address revenue and profit concerns, we helped Skyler implement robust financial tracking. This included setting revenue targets, monitoring expenses, and optimizing her product mix for higher profitability.
Business Development Budgeting: We assisted Skyler in creating a detailed budget for business development. By strategically allocating funds to marketing, R&D, and other growth areas, Skyler could confidently invest in her business’s future.

Results

With our guidance, Skyler’s eco-friendly clothing line thrived. She not only achieved a sustainable profit margin but also saw her business grow steadily. Skyler felt confident in her ability to manage taxes, scale her operations, and budget effectively for future growth. Her success story is a testament to how addressing common entrepreneurial challenges with the right support can lead to thriving, profitable businesses.

Our Fees

Onboarding: $1200

4 Meetings:

#1: Business Discovery + Vivid Vision + Quickbooks Set Up

#2: Proforma Presentation + Consulting Calendar

#3: Entrepreneur Wealth Plan Introduction

#4: Wrap Up

Monthly Fees: $500/m

Recurring Services:

Level 1 Bookkeeping

Level 1 Payroll

Level 1 Tax Strategy Implementation

Profit-First Account Transfers

Quarterly Performance Recap

Quarterly Tax Compliance Checks

Level 1 Business & Personal Tax Preparation

Weekly Open Office Session

2-hour Yearly Business Planning Session

Quarterly Business Planning Checks

Ready to Navigate Your Start-Up's Financial Challenges?

Starting a business can be daunting, but you don’t have to do it alone. At Breakaway Financial Group, we specialize in guiding entrepreneurs through the financial complexities of the startup phase.

Schedule your free consultation and discover how we can help you manage cash flow, ensure tax compliance, and develop strategic investments, and more. Let’s work together to transform your vision into a successful reality.