In 2008, Big Four CPA, Charlene, opened the doors to her own CPA firm, XQ CPA. Over the years, while working alongside a diverse group of business owners, Charlene realized that small business owners were highly underserved. Many accounting firms are tax-focused and compliance-driven, and they only cater to medium to large-sized businesses, leaving the small business owner in the dark.
According to the SBA, 30% of businesses fail within the first two years, 50% in the first five years, and 66% within the first 10 years due to the absence of performance monitoring tools, a lack of understanding or use of performance monitoring information, and poor cash flow management.
Further putting small business owners at a disadvantage, today there is an alarming shortage of Certified Public Accountants (CPA) relative to the number of businesses operating in the United States. Out of the 790,000 CPA’s in the country, 71% of them are nearing retirement, which will hinder the success of the 500,000 businesses that are created every year.
It was this realization that fueled her ambition to develop a solution that would help small business owners become profitable. In 2017, Charlene partnered with Andre, co-founder of EpicLedger, to create a comprehensive accounting solution specifically catered to small business owners.
In 2018, OneSelfClub was introduced. The goal of OneSelfClub is not only to do bookkeeping, but also to educate and equip business owners with actionable business insights so that they can understand their financial position and performance via “purposeful accounting”. Purposeful accounting is meant to empower business owners to achieve six facets of their business: Understand cash flow position; become profitable; hit revenue goals, maximize operational efficiencies; and control costs via expense analysis by utilizing cutting-edge technology and a proven methodology.
OneSelfClub makes this possible by incorporating EpicLedger’s AI-powered financial technology and XQ CPA’s proven methodology (backed by years of experience) that helps business owners make well-informed business decisions. Step one of this methodology is to know your numbers, followed by understanding your financial position. The next step is to understand your tax position so that, together, we can develop strategies to drive your business.
At OneSelfClub, we are more than people who just crunch numbers. We are CPAs, Certified Bookkeepers, Certified Xero Advisors and Certified QuickBooks ProAdvisors with over 50 years of combined experience in helping business owners stay on track and achieve their goals. With our affordable technology-driven and comprehensive accounting solution, we help take small businesses to the next level.