Operational Scalability: Yvonne Cobb of Take Away Tax On How To Set Up Systems, Procedures, And People To Prepare A Business To Scale
Clarify Your Mission, Vision, and Goals — To truly prepare for scalability, a leader and their team must clearly understand the company’s mission, vision, and overarching goals. This clarity is achieved through open communication and strategic offsite meetings, where ideas can flourish away from daily operations. Engage your team in meaningful discussions about the company’s direction to harness collective intelligence, ensuring everyone is aligned and moving forward. Remember, being a leader isn’t the “smartest cookie in the jar” but collaborating with a team that shares your energy and ambition.
In today’s fast-paced business environment, scalability is not just a buzzword; it’s a necessity. Entrepreneurs often get trapped in the daily grind of running their businesses, neglecting to put in place the systems, procedures, and people needed for sustainable growth. Without this foundation, companies hit bottlenecks, suffer inefficiencies, and face the risk of stalling or failing. This series aims to delve deep into the intricacies of operational scalability. How do you set up a framework that can adapt to growing customer demands? What are the crucial procedures that can streamline business operations? How do you build a team that can take on increasing responsibilities while maintaining a high standard of performance?
In this interview series, we are talking to CEOs, Founders, Operations Managers Consultants, Academics, Tech leaders & HR professionals, who share lessons from their experience about “How To Set Up Systems, Procedures, And People To Prepare A Business To Scale”. As part of this series, we had the pleasure of interviewing Yvonne Cobb.
Yvonne Cobb brings over 25 years of experience in accounting, tax, and advisory services for various clients across several industries and is the founder of TakeAway Tax Service, LLC, an innovative tax franchise offering a concierge experience to its clients. Since 2014, TakeAway Tax has enhanced the tax industry with outstanding, knowledgeable tax consultants across the country. TakeAway Tax has more than 12 franchisees across Texas and serves more than 2,700 clients yearly.
Thank you so much for your time! I know that you are a very busy person. 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?
To share a bit about my background and beginnings, I first ventured into the corporate world at a young age, choosing a career in accounting. I was initially drawn to it for the promise of stability and the potential for growth within a reputable organization. After dedicating over 20 years to earning my undergraduate and master’s degrees and later working towards my CPA certification while employed in the oil and gas sector and then the transportation industry, I found myself seeking more.
My interest in taxes began merely as a side project, driven by a curiosity about another aspect of finance. Taxes seemed like a universal obligation — something everyone simply ‘had to do,’ yet there was an enigma surrounding them I witnessed firsthand through my parents’ experiences. They, like many, visited tax offices annually without understanding the process or its significance. This lack of clarity and the routine nature of the task sparked my desire to demystify it for both my parents and myself. I wanted to understand the value and implications of where their money was going in hopes of achieving better outcomes for them.
Thus, I began my part-time venture into the tax world while holding a full-time corporate job. However, about two and a half years in, another oil and gas industry downturn prompted me to consider expanding my sideline tax services into a full-time role. This side gig offered a replacement for my income and opened doors to new possibilities. Surprisingly, I discovered numerous facets of the tax industry that I was unaware of, which inspired me to consider a partnership model.
In 2017, I started collaborating with independent partners, realizing the potential of my growing business. This venture allowed me to create a framework for others interested in entering this space but needing more knowledge and understanding of the profession. Since then, my operation has expanded from three partners to over 12 franchisees across the Houston and San Antonio areas.
In essence, the thrill of growing a business lies in recognizing that you have something viable to offer in your professional landscape, and my journey into the tax industry has been a testament to that excitement and discovery.
It has been said that our mistakes can be our greatest teachers. Can you share a story about the funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?
Sure! Looking back on the early days of launching TakeAway Tax, one of my funniest — and most enlightening — mistakes was thinking I had to know every single aspect of the business inside out. To be the boss, you had to embody this superhuman capacity to juggle sales, marketing, operations single-handedly, and even accounting without ever dropping the ball.
This belief led me down a path of trying to be bigger and faster right off the bat without taking the time to grow and understand the nuances of the business. It’s pretty amusing to think about now, as I had this image that being a boss meant showing no signs of struggle or learning. It was as though “boss” was a badge of endurance, a label that meant you had everything figured out.
However, the reality of starting your own business is far from this image. Initially, you are a solo entrepreneur — you ARE the business. You’re the sales department, the marketing guru, the service provider, and yes, even the accountant. And in trying to tackle everything at once, I overlooked something crucial: documentation.
The oversight? I needed to jot down processes or keep track of the how’s and why’s of what I was doing. It was a comedy of errors when I realized that seven years into my business, I needed clear documentation or a system to hand over or explain to someone else. It was a moment of humbling hilarity, recognizing I needed to backtrack to establish a foundation that should’ve been laid from the start.
The lesson learned from this comedic stumble was the undeniable value of accountability and documentation. As you lay the building blocks of your business, it’s essential to record your processes, innovations, and changes. This not only aids in your personal understanding and refinement of your business model but also prepares you for scaling up and bringing others into the fold.
So, if I could share a laugh with those just starting, it would be over the vision of me trying to juggle every ball perfectly without noting how I was keeping them in the air. The wisdom to pass along? Slow down, take notes, and remember that every great ‘boss’ once had to learn the ropes — and write them down, too.
What do you think makes your company stand out? Can you share a story?
It’s a blend of communication and education, deeply integrated into our brand’s DNA, setting us apart from the industry giants.
Let’s journey back to the inception of TakeAway Tax. As I ventured into the taxation field — dominated by the BIG 4, H&R Block, and an array of large entities — I noticed a void waiting to be filled. Through diligent research, I identified distinct market segments, each searching for a service that catered to their unique needs.
Understanding the landscape, it became clear that clients and franchisees alike were yearning for a paradigm shift in communication. They wanted someone who could do more than process their taxes; they sought a relationship that empowered them. Unlike other companies, where communication often seemed like a mere afterthought, TakeAway Tax placed it at the forefront of our mission.
Here’s a story that encapsulates our essence: Imagine a client overwhelmed by the labyrinth of tax laws. Instead of a transactional encounter, they’re met with a conversation that demystifies and enlightens their tax situation. We equip our clients with knowledge, turning a typically opaque process into an open book.
Similarly, our franchisees are not left to navigate independently; they are continuously educated. We foster an environment where the sharing of accurate information is paramount. We understand that one misstep in taxation can erode trust. Therefore, our unwavering commitment to education ensures both franchisees and clients are well-informed, enhancing efficiency and streamlining all our processes.
The philosophy of TakeAway Tax is simple: arm our stakeholders with knowledge and support them every step of the way. This approach has redefined the client-franchisee relationship and established a new standard within the tax preparation industry. Through robust communication and relentless education, we do more than stand out — we lead purposefully.
You are a successful business leader. Which three character traits do you think were most instrumental to your success? Can you please share a story or example for each?
I attribute the success of TakeAway Tax primarily to three character traits: accountability, assertiveness, and innovation.
Accountability is the cornerstone of my business philosophy. In tax preparation, our role is often to act as the bridge between our clients and complex entities like the IRS. This became clear to me during an incident where clients faced difficulties understanding their tax responsibilities. By taking the initiative to rectify their issues and educate them thoroughly, I reinforced a vital tenet: in a business rooted in relationships, maintaining accountability on both sides of the equation — between client and company — is non-negotiable.
Next comes assertiveness. This is essential because our clients rely on us to confidently navigate intricate tax landscapes on their behalf. My approach here is proactive; we advocate vigorously for our client’s needs, integrating diverse strategies to safeguard their financial interests. Our role is to be advisors and defenders, ensuring their fiscal well-being.
Finally, innovation is what propels us ahead of the curve. Taxation is not static, and being a thought leader means staying abreast of — and even ahead of — emerging trends and legislative changes. This proactive sensibility positions us as industry pioneers and involves collaborating with a dynamic team to push the boundaries of what is possible in tax services.
Being intentional is the underlying thread that ties all these traits together. Actions without deliberate intention are like arrows without a target — unlikely to hit the mark. Whether designing client-specific strategies, forging a new path in the industry, or training our team, intentionality is the guiding principle that ensures every step we take serves a meaningful purpose.
These characteristics are qualities I embody and the pillars upon which TakeAway Tax stands. They ensure that, in everything we do, we’re building towards sustained success and tangible outcomes for our clients.
Leadership often entails making difficult decisions or hard choices between two apparently good paths. Can you share a story with us about a hard decision or choice you had to make as a leader? I’m curious to understand how these challenges have shaped your leadership.
Leadership, particularly in the nascent stages of a business, demands confronting difficult decisions — choices that often test the very essence of who we are as leaders. One of the most challenging decisions I encountered was the realization that I had to emotionally and operationally detach myself from the very brand I had built from the ground up.
I’ve learned invaluable lessons throughout my journey, having nurtured various successful ventures and collaborated with countless entrepreneurs. However, realizing I needed to disentangle my identity from the brand’s identity was a profound turning point. This business, particularly in financial services, involves navigating the intimate financial landscapes of our clients. It became apparent that a clear distinction between personal emotional investment and professional responsibility was essential to truly serve our client’s best interests.
This decision was not just about redefining my role but also about reevaluating relationships within the business sphere. Distinguishing friendships from professional relationships was another tough choice. The notion of leadership often conjures images of collaboration and shared visions, but it can also lead to isolation. At times, the path to what’s best for the business might diverge from what feels right on a personal or moral level. This journey taught me that leadership sometimes means standing alone and making decisions that might not align with one’s moral compass but are necessary for the growth and sustainability of the business.
Moreover, as I navigated these waters, I learned the importance of seeking insights beyond my immediate network. Engaging with external mentors and experts was imperative, broadening my perspective to ensure that my leadership decisions were good for the present and laid down a robust foundation for the future. This step outside my comfort zone was crucial in defining the brand’s trajectory, setting a vision that transcended my personal involvement, and looking toward what the brand could become in 5 to 10 years.
These challenges molded my approach to leadership, teaching me the significance of emotional intelligence, the strength found in vulnerability, and the courage it takes to make decisions that are right for the business, even when they weigh heavy on the heart. It’s a delicate balance, but these experiences have shaped me into a leader who is not just thinking about the here and now but strategically planning for the brand’s legacy and impact beyond my tenure.
Thank you for all that. Let’s now turn to the main focus of our discussion about Operational Scalability. In order to make sure that we are all on the same page, let’s begin with a simple definition. What does Operational Scalability mean to you?
Operational stability is synonymous with robust structure. It is pivotal for scaling successfully and sits at the heart of any effective business model. Procedures and systems meticulously crafted to support growth are essential to this structure. With these frameworks in place, it becomes easier to inspire and mobilize team members to carry the torch of innovation and vision forward.
Scaling a business means expanding beyond the initial setup, adding offices, enhancing capabilities, and ensuring that the operational capacity matches both present needs and future aspirations. This expansion demands that our processes remain efficient and effective, even when the leader is not physically present — a true test of operational stability.
Understanding and aligning the day-to-day operations with our company’s vision and mission is crucial. It guarantees that with each step towards growth, we remain true to the core reasons we are in business. It’s about building an operation so cohesive and future-proof that its ability to function and flourish is independent of one person and rooted deeply in the collective strength and direction of the organization.
Which types of business can most benefit from investing in Operational Scalability?
Every business, regardless of size or revenue bracket, stands to benefit from investing in operational stability as a core facet of scalability. This principle applies equally whether a business is navigating the early growth phase with revenues between $500K and $2 million, finding its footing in the mid-level range of $3 million to less than $10 million, or aiming beyond.
At each revenue milestone, businesses encounter unique challenges requiring them to reassess and adapt their operational frameworks. The underlying benefit of investing in operational stability is the recognition that successful scaling cannot hinge on the efforts of a singular entity. It requires a cohesive, empowered leadership team aligned in focus and drive.
Therefore, investing in operational stability primarily means investing in people who lead and uphold the systems and processes that allow a business to grow efficiently. This strategy ensures that a company can expand its operational capabilities with revenue growth, balancing agility and sustainability.
Why is it so important for a business to invest time, energy, and resources into Operational Scalability?
Investing in operational scalability is vital for a business because it lays the foundation for sustainable growth. Understanding what scaling truly entails goes beyond simply increasing numbers — it requires an astute awareness of how a company can expand its capabilities efficiently and effectively.
The investment of time is critical. It enables leaders to discern the essential elements of their operations, separate from their initial theories or strategies, and adapt to the evolving needs of the expanding business. Additionally, the energy and resources, often sourced externally, are necessary to fuel this growth. They bolster the business’s capacity to scale beyond its current means or imaginative limits.
Dedicating time, energy, and resources to operational scalability is about future-proofing the business. It ensures that the company can capitalize on growth opportunities as they arise and do so in a way aligned with the long-term strategic vision. This approach transforms scalability from a concept into a practical, actionable roadmap for success.
In contrast, what happens to a business that does not invest time, energy, and resources into Operational Scalability?
A business that neglects to invest in operational scalability risks stagnation. Without this vital investment, it often finds itself trapped in a revenue model that becomes increasingly unsustainable as the market evolves. Typically, such businesses encounter what I consider ‘breaking points,’ or thresholds beyond which their current operations can no longer support growth.
These breaking points manifest as plateaus where progress seems to grind to a halt. As competitors continue to innovate and scale, a non-scaling business will likely lose its market position and fail to keep pace. Moreover, with scalability, a company may be able to adapt to customer demands, market changes, and technological advancements.
In the dynamic industry landscape, standing still is akin to moving backward. Therefore, investing in scalability is not merely a growth strategy but a necessity for survival and relevance in a market where others constantly strive for optimization and innovation.
Can you please share a story from your experience about how a business grew dramatically when they worked on their Operational Scalability?
My story of dramatic change revolves around a pivotal realization about the importance of understanding and refining operational processes within a business for substantial growth. I learned this firsthand from observing how a company struggled with its accounting department’s inefficiencies. Despite being a core component of managing the business’s financial health, the department failed to perform effectively due to a lack of structured processes and oversight. Initially, my lack of deep engagement with the financial intricacies of the business meant I overlooked how critical the situation had become.
The realization hit me hard. The inefficiency wasn’t just a minor hiccup; it was causing significant losses in man-hours, productivity, and revenue. It became evident that it couldn’t accurately assess the business’s growth or operational health without a complete understanding of each department’s function and performance.
Motivated by this insight, I spearheaded a thorough evaluation and restructuring of the accounting department. We focused on defining clear responsibilities, streamlining processes, and ensuring every team member recognized their direct impact on the company’s financial standings. The results were nothing short of transformative.
But why stop there? Encouraged by our success in restructuring the accounting department, I extended this rigorous examination across all departments, identifying inefficiencies and areas ripe for improvement. This wasn’t just about fixing problems but about adopting a mindset of continuous refinement and improvement.
Our efforts paid off dramatically. What began as a struggle to navigate operational inefficiencies became a journey toward achieving scalable growth, catapulting our revenue from $3 million to a commendable $20 million. This experience taught me a crucial lesson: growth isn’t merely about expansion. It’s deeply rooted in the meticulous understanding and refining of the operational processes that underpin it. By embracing scalability, we eliminated redundant processes and focused on strategic operations that drove our success.
Here is the primary question of our discussion. Based on your experience and success, what are the “Five Most Important Things A Business Leader Should Do To Set Up Systems, Procedures, And People To Prepare A Business To Scale”? If you can, please share a story or an example for each.
Expand Your Horizons — Above all, leaders should be willing to step outside their comfort zones. Influential leaders must network actively and seek new perspectives. They should engage with peer groups and third-party consultants who can audit their business and provide a comprehensive ‘manual’ or strategic plan tailored to guide the company toward its short-term and long-term goals.
Embrace Continuous Learning — A portion of your business’s resource investment should be dedicated to research and development. Continuously analyze your brand’s position in the market and stay abreast of where your competition stands. Keeping an eye on emerging systems and technologies that could benefit your business over the next 5 to 10 years is crucial, ensuring that your strategies are aligned with future trends.
Evaluate and Empower Leadership — Conduct regular evaluations of your leadership team to ensure they align with the future trajectory of your business. It’s not just about having leaders; it’s about having the right leaders. Ensure that your leadership team is capable of handling contemporary challenges, adaptable, and able to grow with the company’s needs without requiring frequent retraining.
Provide Robust Support Systems — Invest in their ongoing development once you’ve identified the right leaders for your organization. Support them through peer groups and industry engagement, allowing them to absorb fresh insights and bring diverse perspectives to your company. Creating an environment where knowledge flows in is essential, fostering a culture of continuous improvement.
Clarify Your Mission, Vision, and Goals — To truly prepare for scalability, a leader and their team must clearly understand the company’s mission, vision, and overarching goals. This clarity is achieved through open communication and strategic offsite meetings, where ideas can flourish away from daily operations. Engage your team in meaningful discussions about the company’s direction to harness collective intelligence, ensuring everyone is aligned and moving forward. Remember, being a leader isn’t the “smartest cookie in the jar” but collaborating with a team that shares your energy and ambition.
What are some common misconceptions businesses have about scaling? Can you please explain?
One fundamental misconception regarding business scaling is the belief that all businesses are inherently scalable. This misunderstanding often leads to overlooked prerequisites essential for scalability. The reality is scalability hinges on the business model’s ability to function and grow independently of its leader or founder. Many business owners excel in their domain, yet their success is tightly intertwined with their personal involvement, making scalability challenging.
Firstly, it is crucial to establish whether a business model is scalable. This entails evaluating whether the business’s operations — including its services and products — can be systematically replicated without the continuous, direct involvement of the founder. The core question is: Can the business model support expansion beyond the unique capabilities of its owner?
Scalability involves creating a framework within which the business operations can be replicated, ensuring consistent quality and service delivery without the founder’s hands-on involvement. It’s about setting up systems, processes, and a team to perpetuate the business’s growth cycle — ‘rinse and repeat’ — without diminishing the brand’s value or operational integrity.
How do you keep your team motivated during periods of rapid growth or change?
Maintaining Team Motivation During Growth and Change:
I prioritize open and transparent communication to keep my team motivated amid periods of rapid growth and significant changes. It is crucial to create an environment where every team member feels valued and heard, from the CEO to the production manager. Everyone has unique insights based on their role and proximity to different aspects of the business, and tapping into this collective intelligence is invaluable.
I employ several strategies to ensure effective communication and maintain motivation:
Encourage Open Dialogue: Regularly engage in discussions that allow team members to voice their concerns, ideas, and feedback. Creating a culture where open conversation is the norm ensures everyone feels their opinions matter.
Collaborative Problem-Solving: When facing challenges or implementing changes, involve the team in brainstorming sessions. This collective approach leads to more innovative solutions and fosters a sense of ownership and commitment to the outcomes.
Frequent Meetings Outside the Office: Sometimes, a change of scenery can spark creativity and open-mindedness. Holding meetings in different settings can encourage more relaxed and productive discussions.
One-on-One Check-ins: Personal interaction is key. Regular one-on-one meetings with team leaders and their members help address individual concerns and aspirations, ensuring everyone feels supported and understood.
Clear Communication of the ‘Why’: People rally behind causes they believe in. It’s essential to articulate the reasons behind changes or goals clearly and compellingly. When team members understand and align with the vision, their motivation to contribute actively skyrockets.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
One of my favorite life lesson quotes that has significantly impacted my perspective this year is: “You are exactly where you’re meant to be at any given moment.” This quote embodies the belief that our current place in life directly stems from our past actions, decisions, and experiences. It highlights the importance of acknowledging that every experience, whether positive or negative, shapes our path forward, placing us in specific situations for a reason. It prompts a reflection on how our experiences have molded us and how they determine the trajectory of our life’s journey. This quote serves as a reminder to embrace our current location in the grand narrative of our lives as an integral step toward our future.
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. 🙂
Launching a movement would center on fostering collaboration if given the chance. Often, fear holds people back from joining forces — fear of attention-seeking individuals or of encountering selfishness. Nonetheless, I believe in the transformative power of unified action. It’s essential not to retreat from expressing our truths and sharing our knowledge. We can generate something impactful by surrounding ourselves with the right individuals — those who share our vision and have been carefully chosen for their contributions. Building safe spaces for genuine collaboration can amplify our collective strength. There truly is power in numbers, and if we harness that power responsibly and collaboratively, we can engender widespread positive change.
How can our readers further follow your work online?
For readers interested in diving deeper into our work and staying updated, please follow me on LinkedIn. Here, you’ll find links to my latest Forbes articles and regular insights and updates on our work. Visit us at takeawaytax.com and our integrated services through our websites for a comprehensive understanding of our offerings in the financial and tax realms. Whether you’re dealing with intricate tax situations or seeking broad financial advice, we’re here to assist. If you are in Houston or are planning a visit, we warmly invite you to come by one of our headquarters location offices. We’re fully prepared to address any financial queries you might have. So, for direct support and to explore how we can assist in your financial journey, please reach out — our team is eagerly waiting to help.
Thank you so much for sharing these important insights. We wish you continued success and good health!
Operational Scalability: Yvonne Cobb of Take Away Tax On How To Set Up Systems, Procedures, And… was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.