We’re excited to introduce you to the always interesting and insightful Marie Torossian. We hope you’ll enjoy our conversation with Marie below.
Marie, looking forward to hearing all of your stories today. Would you say you are more focused on growing revenue or cutting costs? We’d love to hear how you think about these two critical drivers.
As a CPA and a CFO, I’ve worked with many businesses over the past 12 years. I’ve noticed that business owners always try to cut costs in uncertain situations or maneuver during difficult periods. This reaction is a result of poor planning for the future. There are only so many costs a business can cut before it fails. Let me put this in perspective. If the business curbs or negotiates new terms for certain necessary expenses, will it sustain or grow the business in the long run? The answer is “NO”!
Growing revenues should always be the main focus of any business! Hiring team members who can help a business owner grow revenues will be the best course of action, especially during a strong economy.
Business owners should continuously project their expected performances at least three years out and compare their actual results to their monthly projections. They should also plan their cash reserves 18 to 24 months out to ensure their business can sustain itself during possible economic downturns.
As a business owner, I spend most of my time promoting, marketing, and connecting with prospects and clients. I delegate all other tasks to my team members.
Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.
I’m a Certified Public Accountant and Chartered Global Management Accountant, Auditor, CFO, and Author. I’m the creator of the VALUEATION-MT® methodology, which I use to help my clients 10X their business.
The proprietary method is a gamechanger for business owners. It combines critical ingredients such as business valuation, financial analysis, processes and procedures, menu pricing, growth roadmap, etc. I use this framework to coach clients to understand their business finances, make informed decisions, increase their business value, and live the life they want!
As a Grant Cardone licensee, I mentor and train my clients in realizing their full potential through various workshops, webinars, and coaching programs!
I’m the host of “Coffee Time with Marie Torossian CPA, a live show and podcast where I educate viewers and listeners about accounting, tax, and business strategies.
I have authored two books, “The Complete Guide to Business Growth” and “A Business Owner’s Guide to Operational Accounting.”
I started my career as an auditor at Berkowitz, Pollack, and Brant CPA firm in 2010. In May 2012, I joined the Greater Miami Chamber of Commerce. In 2018 I started consulting and launched the Marie Torossian CPA firm in 2020. In April 2022, I found my newest business, The Profit Lab.
My mission in both businesses is to become a strategic success partner and the number one resource for my clients. Through The Profit Lab, we provide top-notch sales, marketing, and financial education and coaching to help business owners scale and grow their businesses. Through Marie Torossian CPA firm, we provide our clients with operational and accounting efficiency, financial visibility, transparency, the highest ethical standards, and trustworthiness in their business and tax planning.
Our core values are ingrained in honesty & integrity, ambition & motivation, loyalty & commitment, connectivity & lasting relationship, and of course, making an impact!
I’m blessed to have a supportive husband who understands my vision and purpose. I have a son who is my rockstar and a daughter who is my fearless warrior!
Any insights you can share with us about how you built up your social media presence?
When I started consulting in 2018, I knew that the future would be digital and remote. Previously in my career, I was in charge of deciding whether or not I would implement a specific technology, and I worked closely with many technology providers.
My experience allowed me to set up my CPA business entirely remotely. I knew a digital presence was necessary, so I created my website and pages on all social media channels. However, I didn’t know what to say or post to attract clients or a following. When no one knows you, how can they do business with you? I had to build trust and express my knowledge, but I did not know how to market. So I invested time and money learning the strategies needed to build my brand. After two failed mentors, I found a great mentor to help me get on the right track. Here are even things I learned, and you can do it too right now.
1) If you’re not on social media, you should be. Find out where your clients/customers are and be active on that channel.
2) Speak in a way your customers can relate to, don’t tell them you sell this or that.
3) If you see a new feature on the platform, use it immediately; It means they are testing it, and they will promote those using it.
4) Don’t compare your social media accounts with others; you don’t know when they started their account
5) Don’t fall for those who sell you the idea of getting millions of followers; do you want followers or clients?
6) Be true to yourself, your mission, and your vision in your social media postings; that’s how you build trust.
7) Automations can take you so far; you have to get involved with your prospects on social media.
We’d love to hear a story of resilience from your journey.
My story goes back to my childhood years working with my dad at his store. I was twelve when he started his first business during war-time in Lebanon. I used to help him with the cash register, receiving inventory, shelving inventory, and organizing and tracking vendor payments in the simplest forms. I saw him pivot every time something changed in the country and his resilience in trying to make things work in the most challenging situations.
I knew early on in my life I would have my own business one day. Fast forward to January 2020, I launched my CPA firm, only for the world to shut down due to COVID-19. I knew it was going to be tough. I thought, “if I can survive this, I can survive anything.” I also reminded myself, “I survived the war for a reason, I’m resilient, and I will put in the hard work it takes to build this business.”
I’ve invested in my professional development, risked it all, and I am still standing in 2022, with another business focusing on business education. I manage my time and follow a routine that helps me stay focused, starting with a morning prayer and meditation, structured time management, team members that believe in our mission, and continuous self-development.
Does it get hard? Absolutely! But if your purpose and vision are big enough and you surround yourself with people who support you and help you through it when the going gets tough, you can withstand the hardships and push yourself more.
On my live show “Coffee Time with Marie Torossian CPA,” I always close with a quote from the motivational speaker Jim Rohn;” You are the average of the five people you spend the most time with.”
So spend time with people who uplift you and fuel your resilience!
Contact Info:
- Website: www.theprofitlab.biz | www.marietorossiancpa.com
- Instagram: https://www.instagram.com/marietorossiancpa/
- Facebook: https://www.facebook.com/marietorossiancpa | https://www.facebook.com/TheProfitLabBiz
- Linkedin: https://www.linkedin.com/in/marietorossiancpacgma/
- Twitter: https://twitter.com/CpaTorossian
- Youtube: https://www.youtube.com/channel/UCTQpgOBucs0wxtbbHmAAs0A
- Other: https://www.marietorossiancpa.com/podcast
Image Credits
My husband, James Torossian and My Intern, Jordan Kettinger