Yvette Owo
@yvetteowo
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Accounting & CFO for $1M-$50M | Acquisitions. DM's open.....(Accenture Strategy. Professor. Forbes Council. UT Austin)
Austin, TX
Joined June 2012
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Get on the F—-ing plane.
That’s it. It’s not that hard.
When I worked at a Fortune 500 company, I wanted to move Texas from DC. So I got on a plane and started attending monthly meetings in Texas as if I was part of the Texas team.
No one had done that before. People would
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*** It's getting easier to buy a business! ***
SBA announced a change - maybe the biggest in SBA 7A SOP history.
For the first time every, the SBA is allowing a seller note to count as the full 10% buyer equity requirement.
This can open up a lot more deal options and give
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I owe millions of dollars.
That's me and the notary as he reviews the many documents signed to buy an accounting practice.
YOLO Equity Group has made the 1st expansion for 2024.
I now have 2 accounting practices to help you make your business goals come true.
There were 100s,
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I'm on a high l!!! 👏🏾 I'm celebrating wins!
1. Closing an acquisition. (More details coming.)
2. Had a nice chat with
@Codie_Sanchez
and her team last night.
2. Going to
@CapitalCamp
@markbrooks
- see you.
@ColinKeeley
- thank you.
3. Made some important decisions about
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@monicalimco
Encourage what they are passionate about while treating them as close to an adult as reasonable. My 2cents... do this kids, but enjoy mentoring them.
Years ago, I hired a 14-year-old to do video editing for me. I kept the tasks small. He was good at the editing but struggled
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Sat next to this weirdo on the flight to
@CapitalCamp
Great convo
@jcolesimpson
- he tried to sell me so many things in 1.5 hour flight. 😂
And says he didn't change seats to be next
Seriously...had fun, learned, and am excited for more convos like this
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@girdley
Thanks for the unit cost & where to find one.
I had someone cooking for me when I started my business due to multiple health issues.
I was in NYC then.
Since I moved to back to Texas, in home help has been incredibly difficult to find.
I like your process.
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I've been posting less on X.
Why?
I'm closing on an accounting firm acquisition in the next 2 weeks.
My reply and posting volume over the past few months dropped as we got closer to close.
Acquisitions are a special game of wack-a-mole.
Taking care of the details for a
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After helping huge & small biz with $2B cost transparency, 1,800% net income growth, etc., I realized THE HELP most owners need is someone to give them solid financials so they can make data-based decisions. I started YOLOAccounting and am buying an accounting company.
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Ya' gurl hit 1,000 followers! Obviously my life is now amazing and I can manifest millions more 🤑 in 2024!
No, seriously, thank you to everyone who followed me and also the community that I've been building around Twitter. I started posting in April, and so many awesome people
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I was hit by a car 12 years ago. That changed my life in many ways.
One of them is that if my I sleep on the wrong bed, my body is in pain. It if continues long enough....walking and sitting up become challenging.
After of sleeping on a a twin XL foam bed that I got to be quick
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Key Takeaways from
@SMB_ash
Happy Hour
- COMMUNITY
- These are my people
- They have the quirks of people who want to own their own destiny, don't want the VC play, and love to collaborate and get real with colleagues
- They bring me energy to keep going and to give to the
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Why tracking revenue is wrong?
Powerful lesson
@smb_ash
so you don't miss you out!
Track LEADING KPIs not TRAILING KPIs
What is a leading or trailing KPI?
My analogy:
If you want to lose weight. Your weight is a trailing KPI. To know what to do to lose weight, you track
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Day 2 - 7 powerful lessons from
@SMB_ash
that you don't want to miss....
From convos with
@chenholdco
,
@carkerpox
,
@CoFoundersNik
,
@Sam_Rosati
and more:
1.
If someone tells you that you CANNOT do something, maybe ignore them. No one believed in the
@chenholdco
model 10 years
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My new employees already love me.
Acquisitions are a hard adjustment for employees - new management, new style, new everything.
That’s why planning everything - from your word choice to culture change - is the MOST important part.
My employees came up to me and thanked me.
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I looked at over 3,000 accounting firms to find the one that I found.
People make fun of me when I say this.
They laugh:
You’re too picky.
What was wrong with all of them?
Yes, I am picky. 95% of people laugh at me for this.
Now, we have closed and the firm is solid.
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Did a seminar on the 5-Steps to buy a business!!
Awesome people!
Great community!
Great questions!
And OMG, I am so thankful to my team for al the work that went into organizing this.
Austin is getting on the map for SMB acquisitions!
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@pinpulleddrmf
Check out the posts
@thesamparr
did on his friends, including
@nickgraynews
- who's taking it to a whole new level.
He flew someone to Japan for a blind date
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Clarity. This is a great week for clarity.
Something you've gotta take a break.
I'm learning.
#smb
#TaxTwitter
#austin
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Crossed 1700 followers!!
Thank you
@CapitalCamp
Thanks you
@jcolesimpson
for being so handsome in the picture we on the plan. 😭
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***Ice bath***. 40 Degrees. 15 minutes.
Shivering 🥶 as type
I started 50° ice baths 1.5 weeks ago.
40 today was a huge f-------- change.
I started with 1 to 2 minutes in the bath then want to the sauna for an equal amount of time.
I alternated between the sauna and ice
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@chrisxmunn
- Spitting fire about how to manage remotely.
Simple models + examples of companies doing remote work since then 1600s. 🔥
Enjoying the talk with
@BetterCeo
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Day 1 - Meeting the new owner ... Me!!
As I type, I'm hearing the owner and COO tell me total the team about me before I walk into the room. There is giggling, laughing, smiling.
The key talking points are being nailed!
We prepped with a detailed transition playbook and key
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PSA: if you're building a website, WordPress is NOT the easiest way to do it.
I learned the hard way. The developer hassles. The SSL issues.
Using Elementor, hoping that was the silver bullet.
But there's something much easier…
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Imagine losing $30,000 a month every month. And having to lay off staff, shut down machinery, and keep your day job just to keep up with the debt payments.
How'd you get here?
1. You decided to skim on financial due diligence.
2. You didn't project the financials post close.
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Enjoying sunshine at the Greek Festival in Richmond, VA.
The past month has been a sprint.
But life is a marathon.
Taking time to recharge this weekend.
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It's a marathon, not a sprint. Celebrate the wins along the way.
A dry Prosecco. 1st drink in years.
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@IAmClintMurphy
Yup.....And deliberation is too often procrastination & fear being repackaged.
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Powerful SXSW session with about book publishing with
@noahkagan
,
@nickgraynews
,
@TuckerMax
,
@chandler_bolt
, and
@p_millerd
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Day 3 -
@SMB_ash
@joshuamschultz
@dmontenegrox3
@Mikethelummox
1.
Do diligence!!! Otherwise the number of post-close surprises will be wilder than you could have imagined.
2.
Be around people that want you to win. Community completely changes your business experience
3.
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WTF am I doing with my life.
Owning a business is hard.
Having chronic pain & illness is hard.
I need more of a life outside of work.
Finding social activities where my medical needs are also cared for is hard.
Having people not understand how complex my health issues make
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“The success of visionary companies - at least in part - … comes from underlying processes and fundamental dynamics embedded in the organization and not primarily the result of…some…god-like visionary who made…had great charisma.”
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@SMB_Attorney
Not my jam.
@thesamparr
and
@ShaanVP
went into it on their pod
Most of the $ from OF is chatting & special requests managed by guys who on the only fans account & most of the chatting is with guys who they outsource the work do in PH & other countries.
It's cray. Most of the
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@KurtisHanni
Brings me fond memories of finance class and teaching at the university. Great breakdown.
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Many people doubted me during the search process.
They didn’t believe in my vision.
Some assumed the worst.
But I proved them wrong.
How? With help.
I didn't do it alone. Other people in the SMB community helped me along the way.
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@MatznerJon
Instead of Shark Tank we need a show about SME OPS.
1. That far more attainable for most people
2. It would be funny as heck while actually being interesting
The old show "The Profit" is the closest show I've seen to showing relay problems, real debt, Nead bankruptcy, family
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@girdley
Amazon
- excellent customer service
- treat staff like crap
- have our tens of thousands of companies out of business
- compete with sellers on their platform
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Going from nearly bankrupt to +$400,000 in net income in 4 months . . . one client's results from my SMB advising days.
Here are the 5 powerful steps:
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@SecretCFO
She came correct. Hope companies start realizing the "little person" - you know your employees can have leverage too.
And it's increasing with the internet
Eventually brand & financial leverage are even you from accountability .
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As a self-funded or investor-backed searcher, starting an acquisition fund is hard. From day one, the countdown and pressure are on. I want to help you win. Here are the 13 key components for your fund, to make it easier for you to win.
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Real Truth: Having a bookkeeper doesn't mean your your bookkeeping is done right.
It simply means you pay someone to do it.
Want to do a quick test to see if the bookkeeping is on point?
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Killer photo solar eclipse photo from an astrophysicist from the UK that happened to be next to me!!!
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Excited for
@CapitalCamp
! Who else is going? When and which city are you flying into?
I fly into St. Louis at 3:30 on May 20.
What about you?
@UjwalVelagapudi
@ColinKeeley
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Post-close. Day one. I was on a high.
I walked out with the seller, who is now working for me - macho dude, very much a guy’s guy.
I joked that we should write a book together because it’s rarely this smooth.
He laughed and said, “I love you, Yvette.”
Remember, he’s a dude's
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In MLK Jr's memory, I honor William Leidesdorff today, the first black millionaire in America. In 1847, his estate was valued at $1.4 million, which is over $34 million today. Such an interesting story:
1. He was an ol' school Hold Co owner.
2. He moved from Louisana to
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When you find easy work, don’t fight it. Easy doesn't mean good or bad. It just means easy.
If you're like me and I work hard, sometimes you don't appreciate things, just because they come naturally.
Your son of genius is something that lights you up, people want to pay you for
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Want to do a rollup right?
Here are 6 gems 💎
@dzmitry9
dropped.
@emilyleldridge
interviewed
@dzmitry9
about his fast-moving, WELL
PLANNED vet-clinic roll up at
@CapitalCamp
1. PLAN, PLAN, PLAN - a lot of rollups fail early in the game - after the first few acquisitions -
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Instead of calling someone “intimidating”? Are you “intimidatED”?
@DrTinaOpie
helped me better own being intimatED. Next time “intimidating” comes up …Try asking am I insecure?
@RebeccaTaylorNY
@joanpball
@k4kinga
@elijahwood
@BethALivingston
@joanpball
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Enjoyed the sunshine ☀️ , water and city view in Austin in a boat cruise.
(Yes - this is what winter in TX looks like.)
Had an easy, breezy Sunday.
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@BarefootAdvisor
@IamChristelleD_
@Ibiayodunmoye
@investingbff
@itsd0c
@ItsMargieClegg
@iva_cherneva
@jenbegakis
@jennyrozelle
@JLWCPA2
@JTorreCoaching
@JulieChangRE
@JustineCloudDev
@kat_boogaard
@KateBour
@katelynmarnoch
@katgeorga
@kaxuson
@KDimitratos
@KiraaWells
@mayemusk
@MazeLove14
@MelChisnall
@MelissaHottinga
@MoniqMills
@MorganOMedia
@nadiatidona1
@OnaliMcdermott
@OraclesTwin
@Pam_Rubin1
@pialeichter
@Queenie367
@raeoflion
@sabahameed
@sandyhubbard
@SchrodingrsBrat
@SelfMadeMastery
@ShadowLadyLu
@Shruthi_VidhyaS
@SomyaThakker
@SowmyaHariharan
@spacecasetay
@sphynxbtc
@susanpgonz
@Tammy_wyte
@TanyaTapar_
@tennielstudio
@ThatAndreaM
@theChriselleRo
@thecynicalceo
Great job organizing a powerful list!
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8 am Saturday morning 2-hour walking group
Who would want to that?
Me 🙋🏾♀️
I'd been building up to it for several months.
With arm sling & knee brace, I made it!
We walked around the water & the group slowed so I could keep up.
Being in nature is beautiful & enjoying
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The 2 reasons people don't do their jobs: they CAN'T or they WON'T.
Try asking, "Is this a can't or a won't issue?"
It's surprising how quickly people get honest with themselves and with you when the options are so simple.
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@Codie_Sanchez
Then he got me to call him once a month.
To this day: It's of the best relationships of my life.
Even I still need to remember there is usually Blueprint. There is no need to reinvent the wheel.
Don't feel guilty for using a blueprint. It is called working smarter!
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@geeksuryansh
Agreed. As employee, most people assume the company should pay for your career development... in rare occasion that you take ownership of something you want ... it gives you a HUGE edge over others.
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THANK YOU to the many people creating awesome SMB ops and acquisition content.
@patrickdichter
@CPATaxTeam
@chrisxmunn
@FetaFund
@bentigg
@girdley
@tradesearcher
@SecretCFO
It's been great to be in community and to learn from you.
Who else should be on this list?
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**Want Insider Secrets To Buying Businesses?** Then join us on April 5th from 2pm-5pm for the Austin Acquisition Association Masterclass and Networking.
You'll discover:
1. 5 steps to buy a business
2. Who you need on your deal team and may not know
3. How you can buy with less
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Every once in a while, and ol' school party is worth it. My hair after the pool.
Work & play
#SMB
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We all stood silent, together.
Taking awe.
All these different people from all over the US.
The
@AustinPublicLib
had a nice watch space with people from
@NASA
and tourists from all over.
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@chrisxmunn
You're are rocking it & you use your platform so well!!
This part of my why. The rest I'll share in person or after some personal hurdles are closer to resolution ----
I was a Fortune 500 executive & reported to Fortune 500 C-Suite that you see on TV, even at that level of
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POWERFUL room about being a hybrid-professional and feeling “permission to be your full you & show up in your work”
@LolaABakare
,
@sanathemonster
,
@moismai
,
@theChrisDo
and
@sarabethberk
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Companies “win when people…bring their…multidimensional selves to work…not just underrepresented employees benefit….We are all better of.” - Francis & Anne.
@FrancesFrei
@annemorriss
@RebeccaTaylorNY
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Last week was a beast: Implementation started on 2024 goals for the accounting roll up; we kept going with immediate sales and staffing needs; we are planning the April 5th event teaching how to buy a business.
The week felt like drinking from a firehouse. A firehouse of
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Tax time is here. Are you looking for a firm that can call you back in 24 to 48 hours? DM me. We've got you.
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When you’re in such a beautiful state emotionally that you can see around you is beauty….That is me now! 💫✨
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Stress kills. It takes your life away, It’s most draining AFTER you buy the business.
When you buy a business, the worst always happens.
I know someone who sold their business and didn’t tell the employees or clients that it was happening.
Half the staff disappeared on day
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Forget what the books say about no changes for 100 days.
I walked in and changed everything - on day 1 😂
You can make the changes you need, you just need to be thoughtful with them.
I came in with a list of ideas and was firm about them. I let people debate and have
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@chrisxmunn
@girdley
@KHendersonCo
@thomasince
@winslowmarshall
@SHaySBA
@EndresenHeather
@levinejm
@bentigg
@RegZeller
@Codie_Sanchez
@DSweetTexas
@MatznerJon
@Whitney_Sheph
@RobertMSterling
@BetterCeo
Thanks. Sharing is caring
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@ShannonJean
@monicalimco
Go to store 5 min away with the grocery list, for me, meant:
- I still have just a learners permit
- I will return with groceries in 6 hours after hanging out with friends because this is my opportunity to get out of the house with my car
- I was outcome focused. No one
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The QoE is just part of financial diligence. You should also dig into how to finance operations post-close. A working capital loan seller loan at a rate well below market can be your lifeline for covering day-to-day expenses and the inevitable surprises post-close.
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What the heck happens at an accounting conference?
When I say I'm going to an accouting conference, I get some pretty odd looks. 😂
See... accountants even smile 😊 at conferences.
This
@PASBAaccountant
conference is fantastic. We focus on running a better firm for you - the
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Unplugging has been hard, especially the past 7 years.
But it's necessary...
To turn off you mental processing & lean into different parts of your personality.
Yesterday: ice 🧊 bath > boring errands > delicious roti & wild boar stew > spontaneous night of glee & dancing &
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Want to buy an accounting firm? I reviewed 452 deals last week. Most see only 10.
Deal flow is the bloodline in acquiring a business.
Learn to build a search machine in my FREE Online Workshop: How to Buy an Accounting Firm on Tuesday June 25!
RSVP NOW in the comment 🚀
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When searchers ask about using Salesforce as their CRM.
Just read an IM for a $6m revenue engineering business boasting a ‘full SAP implementation’
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@nickgraynews
's 2-Hour Cocktail Party strategy is worth it.
Everyone had a great time & several people got out of their shells.
The conversations were great.
And a few new friendships were formed.
Your party ends up being easier than you expect & about extension of your
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Buyers: Want more leads?
Here are the steps that take less than 2 minutes.
Don't tell anyone else. Keep it our secret.
1. Go on BizBuySell.
2. Go to the geographic area you’re targeting.
3. Look at listings there. Click on any of them.
4. At the bottom, you’ll see the
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@jj_buckner
@sweatystartup
No one is self-made. Everyone has people that influence them or help them. Some people make better decisions than others.
The self-made myth is ridiculous.
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Out for the SXSX - and ran into people I know and met someone new.
Sometimes just go the event solo and enjoy who you meet.
#Sunshine
and
#socializing
#SMB
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@JoeCassandra
Great!
What I did was build a model in my 20's that projected my financial net worth until age 100 including my currrnt investments, raises, promotions etc., and with the "fast track" that I was on.
I updated it every month at minimum.
Turned out I would hit my then goal -
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@SMB_ash
I nominate myself. I don't know too many folks who overcome disability, are BIPOC and female in this space. I'm actively pulling in more diversity into the space by showing the opportunity for generational wealth that the "high paying" F500 gig won't give you.
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@Codie_Sanchez
My first consistent mentor told me, after I met pretending that I was fine and didn't need help.
"Yvette, I already did this before. I ran the southwest region of IBM legal.
I already did the work so you don't have to reinvent the wheel. Just ask me."
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Are you pointy and trying to be round?
Growing up, I tried hard to be round, but I was pointy.
By pointy, I mean someone who gets passionate and/or skilled in a certain area regardless of what the world wants them to do or be.
I worked at a call center selling Verizon
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Don't fall in love with a deal.
Be willing to walk away from any deal.
Your willingness to walk away will save you from many bad deals.
And with good deals, it'll establish a baseline so the seller side knows you're serious about deal terms that are important to you.
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Such a powerful session. Moved me to tears of inspiration & much more. Thank you to everyone who spoke & helped organize.
@DrTinaOpie
@OfficialDHam
@BethALivingston
@mayawatson
@LolaABakare
@KatColeATL
@ToniThai
@kathrlynn
@swansit
@herbadmother
@LcswNidhi
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Unpopular fact: If you're buying a business with a SBA loan, the bank and the federal government are your partners.
The bank is a partner with clear terms (in a contract) of what they will and will not do. Part of the reason they are investing in you is because if you fail to
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Generous givers. If you're someone whose first instinct is to give, you will get burned. You feel drain. You will exhausted by people.
A few powerful tips (which I am still practicing)
1. Learn who the other generous givers are & spend more them with them.
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Seller be trippin'
Interest rates are up.
The economy is shaky.
Your prices need to adjust to the economy for your business to get sold .
The Q1 BizBuySell report was recently published (link below).
I found the below excerpt from the report interesting & relevant to the SMB Twitter space: “Buyers appear to have the upper hand in any market where funding becomes less available and more expensive”
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@SuccessWithJake
Give money back & take the lesson: this is not my friend & I can improve my discernment of who is a friend.
My definition of friend requires more honesty.
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My first thought: “Are they bailing on me?”
The CEO and COO are going to be out of the office the first Friday after taking over. I found out on Wednesday.
The fear brain took over first. Luckily I have a team. I talked to my transition planning lead.
“That means they trust
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This morning walk habit has been a game changer.
Part of the walk is silent.
For the other part I talk to a friend or make a work call.
My morning walk habit has improved my circadian rhythm, digestive system, helped me sleep earlier, and just made life better!
It even
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Remember that you're not the 1st person to buy a business. You won't be the worst at it. You won't be the best at it. Don't expect yourself to be perfect.
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What fears keep you up at night when you think of the personal guarantee?
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Dude has bought about 20 accounting firms all over Texas and flies his plane to his firms. He still showed up for the workshop “How to Buy an Accounting Firm.”
🔥
That's someone committed to excellence.
THANK YOU to everyone who attended.
This was an action-packed event and
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9 hours this week on the phone with IT support.
4 hours to get remote access setup.
Friday: IT calls every 20 min from 7 to 9 pm.
Let's not even count the number of emails or the action item tracking.
I'm an exhausted client & feel like their outsourced project manager.
I
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Every acquisition ever. Transition planning is waaaay underrated.
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