Yvonne Cobbs Of Take Away Tax: “Accuracy is needed to reassure your product or service will last”

Accuracy is needed to reassure your product or service will last; Processes will allow you to scale and build systems to exist beyond your region, Diversity will allow you expand your portfolio because they are needed to understand multiple cultural needs of scope; Management is the trust in your leadership is necessary to survive and […]

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Accuracy is needed to reassure your product or service will last; Processes will allow you to scale and build systems to exist beyond your region, Diversity will allow you expand your portfolio because they are needed to understand multiple cultural needs of scope; Management is the trust in your leadership is necessary to survive and lastly knowing your exit was always the the plan because if the exit is clear the business will be structured to make that successful.

As part of my series about the “How To Take Your Company From Good To Great”, I had the pleasure of interviewing Yvonne Cobb.

Yvonne Cobb is the founder of Takeaway Tax Service, LLC, an innovated tax franchise firm that offers a concierge experience to its clients, while expanding the industry with outstanding knowledgeable tax consultants worldwide since 2014. Yvonne has gained her knowledgeable worth 30 years in the making, being a native of inner-city housing and raised by a single parent in Houston, TX. Yvonne learned the maturity of accountability being the oldest child and becoming a parent herself before she received her HS diploma. Facing these circumstances lead to a drive to completion, she fueled by going straight into Corp America growing within each position she gained, while in school finishing her accounting degree. Since those accomplishments she has mastered the field of Accounting, Tax and Advisory services experience for various clients across multiple industries. Her exceptional business strategies have allowed her to be well respected in the in Houston, TX where she has created several businesses and alliances. Since 2014 Takeaway Tax has over 15 franchisees across Texas and currently more than 2,000 clients yearly.

Her accomplishments include:

  • Department director for The CFO Firm Inc.

Where she headed the expansion into the Atlanta market

  • Leadership role with Ft Bend Chamber of Commerce
  • A speaker and trainer for SBA Houston
  • Featured on “Great Day Houston”

Before devoting her fulltime to entrepreneurship, she was a lead Accountant with the leading helicopter transportation company in the US. She is also a film and production accountant with several film credits to date with the CFO Firm becoming the first minority accounting firm in the state of Georgia.

Yvonne has written two books being published this Winter 2021.

In addition, she is the head instructor at Takeaway Tax University, serves as the President of BAI Council and is the current director of Kirby Investment Partners, a female only investment firm based in Houston.

Thank you so much for joining us in this interview series! Before we dive in, our readers would love to “get to know you” a bit better. Can you tell us a bit about your ‘backstory’ and how you got started?

Sure, born and raised in Houston, Texas a graduate of University of Houston, Worked Corp Amercia for 15 years until a need to build a wealth funnel for myself and my family. After working

Can you tell us a story about the hard times that you faced when you first started your journey? Did you ever consider giving up? Where did you get the drive to continue even though things were so hard?

My journey started earlier than some. I wanted more than just a way to survive, I wanted a way to provide for myself and my son in a way that would be sustainable and when I found the opportunity to do something that I had a particular passion about things just fell into place. No, I never thought about giving up. It was only which direction I wanted to take, but giving up was never an option. My drive came from my son. I didn’t want my personal circumstances to determine my future. I chose early to determine my own future and that is the way I have chosen to approach my goals for the future.

Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lessons or ‘takeaways’ you learned from that?

First let me say that financial mistakes in the world of finance are very few and far between and are very seldom funny. What I can say is that I have learned that people you hire will not take your business efforts as seriously as you do, and it is very necessary to be as direct as possible while still maintaining a level of professionalism and understanding that can be appreciated by others in the industry.

What do you think makes your company stand out? Can you share a story?

TakeAway tax is a mobile and virtual tax service that also provides year round financial care for our clients, and not just services during the tax season. One of our core values are to create expectations then exceed them. This was a hard concept to get others to recognize, but once clients caught on to the concept they actually call about it and refer to it often.

Which tips would you recommend to your colleagues in your industry to help them to thrive and not “burn out”?

I would encourage others in the industry to always educate yourself regarding your craft and be able to articulate it to your clients. It’s very important that clients understand their finances and where each dollar goes, and why.

None of us are able to achieve success without some help along the way. Is there a particular person who you are grateful towards who helped get you to where you are? Can you share a story?

When I look back on my influences I can say there have been many and early on my mother was a continuous source of inspiration and comfort giving her opinion whether I wanted it or not and I still look to her for guidance. Most recently however my counterpart and husband has been there through the early phases of my growth in building my businesses and has supported me every step of the way.

Ok, thank you for all that. Now let’s shift to the main focus of this interview. The title of this series is “How to take your company from good to great”. Let’s start with defining our terms. How would you define a “good” company, what does that look like? How would you define a “great” company, what does that look like?

Every company who wants to become a great company needs to build what I’ve learned to be called MOATS is a is a actual trench around your company that such a part and what that allows you to do is create a marketplace in which you innovate a process that will signify your company in a separate space but also allow you to not be penetrated as easily.

Our moat is one of a service based towards our client experiences and our franchisee growth advantages. Great people bring Great people!

Based on your experience and success, what are the five most important things one should know in order to lead a company from Good to Great? Please share a story or an example for each.

There are probably multiple things but just a list five that definitely come to mind immediately are accuracy, processes, diversity, management and understanding your business exits.

Accuracy is needed to reassure your product or service will last; Processes will allow you to scale and build systems to exist beyond your region, Diversity will allow you expand your portfolio because they are needed to understand multiple cultural needs of scope; Management is the trust in your leadership is necessary to survive and lastly knowing your exit was always the the plan because if the exit is clear the business will be structured to make that successful.

Extensive research suggests that “purpose-driven businesses” are more successful in many areas. Can you help articulate for our readers a few reasons why a business should consider becoming a purpose-driven business, or consider having a social impact angle?

We believe that most businesses that are created come from a purpose driven background most small business owners which make up a over 75% of businesses established today which were all made with a purpose. For what purpose depends on the actual industry and they need for change or demand. The biggest reason I can express why you want to have a purpose is so that you could understand how to corner of your markets as well as your social impact because of how consumers by and use services the shift is come with the accessibility that most of your clients have and the need for them to know more in order to make the proper decisions on what avenues that they will use in order to get their needs met end it is our purpose as business owners that are trying to achieve that purpose we understand the demands of the growing market and it’s in the cutting edge technology that is at the fingertips am of most of our clients.

What would you advise to a business leader who initially went through years of successive growth, but has now reached a standstill? From your experience do you have any general advice about how to boost growth and “restart their engines”?

When it comes to understanding a client that has had or business that has that grows out the gate and have been very successful with the process that you have adopted independently as a business owner and at some point most of us are in our business is begin to shift issues in our clients issues in our competition any shifts in understanding where are Clive these are now if you are at a standstill my advice is to reevaluate where the business started and where the market is definitely look for an outsourced control possibly a businessman a manager or meant a mentor maybe you’re at a screen.

Generating new business, increasing your profits, or at least maintaining your financial stability can be challenging during good times, even more so during turbulent times. Can you share some of the strategies you use to keep forging ahead and not lose growth traction during a difficult economy?

Some look at turbulent times as unfortunate I tend to look at turbulent times as a way to re-access and grow what I’ve been and it was some of the advantages to what we offer is we’re kind of in a position to where our clients in our knee base is will always be consistent how to get to you to grow your your business and stay abreast to what is available to us now. You definitely want to look into the ways that people market now on social fronts of course business owners that are used to people walking in must now understand they’ve got to create the buzz

In your experience, which aspect of running a company tends to be most underestimated? Can you explain or give an example?

Cashflow reserves, most go into business with capital and processes and miss the continuous funding efforts necessary to float the company ongoing. A businesses financial revenues need to be budgeted and forecasted just as larger companies it does matter how small you are create a plan for all revenue and build credit reserves.

As you know, “conversion” means to convert a visit into a sale. In your experience what are the best strategies a business should use to increase conversion rates?

LISTEN to the clients need because the sale is in the discovery. Most clients don’t know they need your service or product so converting them to clients could take short or long term cultivation most are open to new discoveries so make sure you listen, repeat there expectation, explain the solution and ask for the sale.

Of course, the main way to increase conversion rates is to create a trusted and beloved brand. Can you share a few ways that a business can earn a reputation as a trusted and beloved brand?

Being transparent with supply/demand always a great place to start. Following up and customer service seem to the a thing of the past but like the pat it is worth the repeat. Brands are built from consistency.

Great customer service and great customer experience are essential to building a beloved brand and essential to be successful in general. In your experience what are a few of the most important things a business leader should know in order to create a Wow! Customer Experience?

Clients that are always looking to be appreciated! There experience with your brand is essential to them signing off on referrals and public reviews. the wow factor could be as little as following up and birthday cards to all out customer events and keepsakes. Only listeners will hear what serves their climate.

What are the most common mistakes you have seen CEOs & founders make when they start a business? What can be done to avoid those errors?

Wow, mistakes can be a daily task to prevent but I would say in the begin of any business growing too fast or not knowing who to hire will create a huge problem. Avoiding these will be knowing your budgets, make sure to grab mentors in every area in your business of importance. Lastly hold yourself accountable for the system necessary to survive.

Thank you for all of that. We are nearly done. You are a person of great influence. If you could start a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂

My movement is already in the making by creating an innovative franchise and educational institution geared to be two steps ahead of the modern practices our peers. Our sweet spot clients are the population that we are self make up and more we can equip them with the tools and strategies the bigger this will welcome financial freedom to most.

How can our readers further follow you online?

All social media outlets @takeawaytax

If they would like to discuss one on one book me @ www.takeawaytax.com

This was very inspiring. Thank you so much for the time you spent with this!

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