ABOUT

Meet Laura

Hello, my name is Laura Cline.

I am a full-charge bookkeeper working for a disaster restoration

company in Southwestern Ontario. I also co-own a small bookkeeping

firm called My Better Books. I have been working in this industry for

over six years, but my story starts back in 2007.

After working in the healthcare industry for 5 years, I realized this was

not my passion. I loved marketing, business development, sales, and

finding ways to enhance profit with creative ideas. So, I left my

current job in health care and started a small cleaning business called

Modern Maid Services. I had a partner in this business and quickly

realized we had different visions. In 2008 when opportunity knocked,

I answered! I purchased a franchise at the age of twenty-five with

limited business knowledge and extremely limited capital. This was

the greatest education I have received! The education of hard knocks!

There is nothing like purchasing your first business at the start of a

recession.

I knew enough to know I did not know anything! I hired a bookkeeper who turned out to be more of a tax preparer and less of a bookkeeper. At the time I did not know there was much of a difference, and I definitely did not know if they were doing their job correctly.

MY STORY

After six years of establishing business connections, learning the ins and outs of my industry, and getting a fast-track education on franchise agreements, lease agreements, negotiating, sales, inventory management, and team building, my business was audited by CRA.

Three days of CRA setting up shop in my office, going through all transactions since the start of my business I got an eye-opening look into the world of bookkeeping and how wrong it can go. I knew the business was not as profitable as it should be. I kept working harder, and longer, pushing sales, and innovative marketing campaigns, but nothing was changing my financial situation. I did not understand the financials of my own business and I really did not know how bad my books were until the Canada Revenue Agency enlightened me. They also gave me a hefty parting gift, a bill for $18,000 dollars. I was devastated, I could not pay that bill. I struggled to make payroll for some months. So, I sold the business! and me along with it. The new owner was not new to business or finance, and he saw potential in me. You may have heard of that wildly popular weight loss business in the 90's called Herbal Magic. My new boss was the guy who started and eventfully sold that business for millions. I worked for him over the next year learning everything I could, soaking up all the information and experiences coming my way.

I left that position at the end of that year. I needed to branch out and explore other business opportunities. I went to work for the man who had started the franchise I had bought into back in 2008. Now 2015 with 7 years of experience under my belt, I had the privilege of learning from a man who had business experience that almost exceeded my age. I worked in various industries as his business portfolio included real estate, restaurants, retail, beauty industry, and service-based sales. I was able to get a front-row seat at large franchise meetings. Learning the art of negation, understanding contracts, and looking for loopholes. Franchise development, business start-up procedures, sales, and the psychology behind it (sales truly is an art when done correctly). I learned about pricing models, sales projections, and forecasting profitability. I learned not every idea is good and not every business will be a success. I also learned that it's ok to fail, that is the journey to achieving your goal, building the business of your dreams.

I collaborated with him full-time until 2017. I knew as much as I loved everything I was learning, I did not want to build a business for someone else, I wanted my own. I also knew not to repeat the mistakes of the past! This time I would know how to read a balance sheet, Profit & Loss statement, and cash flow statement. I would not only know how to read and understand what the financials were telling me, but I would also know how to prepare them. Financials are the lifeblood of your business. This time I would know my KPI's. I would have a plan for cash flow management, I would take charge of my own success. In January of 2017, I went back to school. I did everything I could to fast-track my education. I took extra courses; I found a bookkeeping mentor to help support me through the process. I continued to work for my previous employer, just in a different capacity.

While in school I managed his cash deposits, banking, and I took the position of controller for one of his restaurants. He was confident that with my business knowledge and the accounting education I was working on I would be a great fit for this role, and he was not wrong! I continued in this role through school, and once I was coming to the end of my final classes I started to take over the bookkeeping of two of his other businesses.

Then, opportunity called again and I said

Hello!

I went to work for a disaster restoration company as their full charge in-house bookkeeper. I have learned in-depth about the construction industry, job costing, benchmarking, KPIs, year- end preparations, owners’ equities, establishing trusts, and holding companies. I have learned the ins and outs of insurance companies and how to code billing and adjust for individual insurance company fees. I have managed the royalties paid to the franchise and prepared the financial documents that coincide. I have learned to account for vehicle fleets and depreciation schedules, and asset allocation. This position has allowed me to grow and develop my bookkeeping skills at a much faster rate. I still manage the finances for this company, but it was time for me to grow again.

I have finally reached the point where it is time for me to run my own business. I now come with 12 years of business experience in a multitude of different industries and six years in the bookkeeping/accounting field.

Equipped with eighteen years of experience and a business/life partner who not only works with me to achieve goals and hit targets but supports and ignites my ambition.

MEET LEVI!

Programs, Systems and Information Technology (IT) Development for My Better Books. He is both an Electronic & Chemical Technologist while also holding a Third-Class Power Engineering Certification (TSSA - Canada). His background includes automotive electrical system structure design & component mechanical testing for several Big Three suppliers (GM/Ford/Chrysler). Con-currently, he holds a managerial role in operations for an Exxon Mobil majority owned company. Levi loves to explore the world & nature, play guitar and renovate.