Strategic Business Advisory & Tax (SBAT)

Strategic Business Advisory & Tax (SBAT) is an accounting firm with a difference. It is committed to driving growth for small businesses while simplifying the lives of their owners. A distinctive hands-on, advisory-first approach guides clients from where they are to where they want to be while building sustainable businesses along the way.

Starting as a traditional tax and accounting practice, CEO Randi Sorenson and president Kelly Hibbits quickly recognized that small business owners need more than bookkeeping and tax filing support. They require streamlined operations and clear pathways for profitability. This realization led them to strategically expand their portfolio to offer business advisory services.

SBAT’s comprehensive advisory services span growth planning, business coaching and exit strategies, along with accounting and taxation support. All services are designed to help owners transform their processes, systems and cultures and set them up for success.

“We ask the right questions and deliver impactful solutions to help owners fix their business and make it more profitable,” says Sorenson.

HIGH-IMPACT, HANDS-ON ADVISORY SUPPORT

Sorenson and Hibbits, both seasoned CPAs, embed themselves into the day-to-day realities faced by clients in running their ventures. They bring analytical, finance-driven viewpoints to delve into each client’s business model regardless of the industry.

The advisory service begins with a comprehensive initial meeting. The first part of the meeting is spent thoroughly understanding the client’s business. In the second part, focus is on exploring the owner’s vision three years into the future. Following the meeting, the team develops a three-year growth roadmap, anchored by 12-month benchmarks and 90-day action plans.

To further support business growth, SBAT uses specialized software that compares the business’s KPIs against industry peers of similar size and region. Based on the findings, it generates periodic reports highlighting market trends and competitor comparisons. The goal is to pinpoint specific areas for improvement.

Regular meetings are held with the owner and key employees to analyze unexpected challenges, brainstorm solutions and refocus on evolving goals. These in-depth discussions frequently uncover deeper cultural issues that tend to hold companies back.

One construction business owner, for example, described SBAT’s involvement as “life-changing.” The client was held back by the controlling nature of two key employees, the accountant and a production staff member, which led to a hostile workplace environment. Once Sorenson restructured the accounting processes, the problematic employees quickly departed. This turn of events brought an immediate shift in the company culture that transformed the workplace environment.

She introduced systematic changes further down the line. Regular supervisor meetings fostered collaboration among team members, which helped boost productivity and profitability. Strategically delegating crucial operations to a seasoned employee reduced the owner’s day-to-day burden, freeing him to enjoy his hobbies and spend more time with family.

BALANCING PROFIT AND THE HUMAN SIDE OF BUSINESS

SBAT is driven by a deep-rooted belief that true growth must serve both the business and the owner’s personal aspirations. Each roadmap it creates for growing a small business seamlessly balances this.

A client experienced SBAT’s holistic impact after approaching it to reduce business expenditures. While analyzing operations, the team discovered inefficiencies in their everyday processes that resulted in wasted time and resources. The root issue was field staff who reported to the company yard each morning and then traveled through city traffic to a job site.

Making small improvements to reach desired outcomes is a hallmark of the firm’s approach, which the client experienced first-hand. SBAT’s suggested process improvements included hiring a dispatcher to direct field personnel to job sites instead of daily yard check-ins. This optimized staff deployment and boosted overall productivity. Implementing on-site training through iPads saved more time and saved the owner $500,000 in employee overtime costs. The result is a significant boost to his net business income.

When the same owner later faced a family medical emergency at a critical juncture, SBAT delegated his responsibilities to key employees through a seamless handover process so the business could thrive in his absence. The approach allowed the owner to give his family time and attention.

More instances like these demonstrate SBAT’s strong focus on understanding the owner’s personal aspirations while creating a roadmap for business growth. Its client-centric stance is best exemplified when the firm prioritized an owner’s life goals to modify proposed business growth plans. The client’s three-year-old business was already netting over $1 million annually. For further growth, it presented a plan with two possible future projections. One plan involved $6 million in three years with aggressive growth, while the other projected $2-3 million with less scaling and hassle.

Initially, the client decided to opt for the latter plan. But when the team learned of the owner’s personal aspirations, like luxury family vacations, it realized that the lower proceeds from the chosen plan would likely be insufficient. The client was then suggested to re-evaluate her choices. Ultimately, she decided to grow her business to $4 million, which would comfortably fund her family’s desired lifestyle. Accordingly, SBAT built a custom three-year roadmap to help her reach the target with moderate scaling and a manageable workload.

“Our job is to help clients build the life they want, not just the business they have,” says Hibbits.

BUILDING THRIVING BUSINESSES, EMPOWERING OWNERS

While advisory support ensures streamlined business operations, SBAT’s accounting and tax services help companies stay financially sound.

Tailored bookkeeping services, including regular reviews, reconciliations, invoice creation and bill processing, make accounting hassle-free for owners. The firm takes the same proactive approach to tax planning, guiding owners through quarterly strategies that optimize treatment for their entity type. Clear, transparent sessions demystify estimated tax payments and explain the impact of changing laws, eliminating surprises and instilling long-term confidence in owners.

Every success story that SBAT makes possible with its involvement reinforces its larger mission of creating a thriving community of empowered owners and strengthened businesses. Plans to expand the advisory client portfolio are underway to bring more businesses under its holistic services.

As growth partners for small businesses, Strategic Business Advisory & Tax is ever ready to build flourishing ventures that allow owners to live the lives they have envisioned.