Robert Gauvreau is an award-winning CPA and founding partner of one of Canada’s fastest-growing CPA firms, Gauvreau & Associates who specializes in helping entrepreneurs grow to scale, and turn a profit. With upwards of 500 clients including businesses recognized on Fortune 500 and Growth 500 in North America, Robert’s firm not only provides advisory, accounting, and taxation services but also helps entrepreneurs find financial success and generate significant wealth.
Gauvreau is a newly 2020 published best-selling author of “The Wealthy Entrepreneur,” a book dedicated to sharing the “Vision to Results” framework to lead extraordinary results in any business and create financial clarity for entrepreneurs in their endeavors. The book consults entrepreneurs on clarifying a business roadmap with attainable financial goals, maximizing wealth accumulation, and boost the overall performance of any business. *Note the ebook launched in 2020 and the physical book is launching on April 6th of this year
Robert was recruited by Tony Robbins to join his ‘Global Accounting Advisors partnership to provide advice and guidance to his business mastery attendees. As a passion project, Robert is a founding partner of Venture North, a massive 38,000 square foot entrepreneurial business hub that provides business incubation programs, mentorship, financial coaching, and business mindset training to entrepreneurs at every stage.
Robert is a sought out speaker in the finance and entrepreneurial space, including recently hosting the Ascent Summit 2021 where Robert had Gary Vaynerchuk join him on stage as a special guest. *Please note the event will have passed (April 9th) by the time the article would be published just for context.
What was the inspiration behind the launch of the Gauvreau & Associates CPA? How is your firm helping small and medium-sized enterprises?
I founded my firm in 2008 after realizing that I wanted to focus my finance and accounting expertise on helping entrepreneurs and SME’s pay less tax, make more money, and maximize the impact they are able to make in their communities. At the same time, I wanted to create a work environment that was exciting to be a part of, one that I would be proud to show up to every day, and one that would attract the best and the brightest to join me in creating something extremely special in our space.
I have the great pleasure to work with small and medium-sized enterprises every single day. From helping them gain clarity over how their business is financially performing through bookkeeping, to helping them form compensation strategies and effective structure planning to ensure their taxes are as efficient as legally possible, I have the great pleasure to help these businesses and their owners realize financial success. I also have the privilege of acting as a virtual CFO to high-performance entrepreneurs, helping them build their roadmap to financial success, helping them scale their team and their business, helping them manage the strategic growth through effective planning and financing, and helping them build their wealth to the point of realizing financial freedom in their lives. These are all part of a day’s work for our team!
You recently published a book “The Wealthy Entrepreneur,” a book dedicated to sharing the “Vision to Results” how can it help entrepreneurs and leaders at all stages of their careers?
I wrote “The Wealth Entrepreneur” to expand my reach and to provide an implementable and actionable process that will allow business owners to understand what they want to accomplish in their business and show them how to achieve those results. This book focuses on making sure business owners have clarity over how their business is performing, how to strategically grow, and how to set themselves up for future success, with specific teachings on pricing strategy, cash management, tax minimization, and wealth accumulation. All essential areas necessary for a business owner to move towards realizing financial freedom.
Gauvreau CPA to Host the Ascent Summit for Business Owners to Grow, Scale & Profit with Confidence, share insights on how is it designed to help business owners?
When I originally wrote “The Wealthy Entrepreneur”, I knew I had outlined a framework that would allow business owners to implement a simple process and see positive financial results. The challenge was that I wanted to continue to help more and more people get access to this process and these teachings. In my wildest dreams, I pictured a great collaboration with a world-renowned entrepreneur who inspires so many people to follow their passion as entrepreneurs. With my process and their voice, we could certainly help a large number of people. The individual in these dream collaborations was Gary Vaynerchuk. When my book was getting ready to launch, I thought that it would be more interesting to take my teachings and find a way to bring Gary Vaynerchuk in, and together, inspire and teach business owners what they need to do to make their passion a financial success. I had the opportunity to speak with Gary’s team about the idea and was able to get him lined up to take part in the event. This made me excited about the opportunity to create a massive impact on the SME community I have devoted my career to serve!
Since 2008, you have been helping SMEs successfully as a business advisor, including being recognized in 2010 with a Chamber of Commerce Business Excellence Award for Entrepreneurship, how do you define entrepreneurship?
For me, entrepreneurship is following a passion, identifying a need in the market, taking on the risk of its ultimate success, and pursuing it with 100% heart. Entrepreneurship is not for the timid, in fact, more people fail than succeed in the business world, however, following one’s passion in spite of those odds to create a positive impact in the world is my foundation of what entrepreneurship stands for.
On a final note, can you share your key advice to small business owners during these challenging times?
My main advice to small business owners right now consists of 3 things:
- Make sure you have access to cash resources and a ‘safety net’. Small businesses depend on their cash flow as a lifeline to realizing success. If you run out of money, you run out of business. Make this a priority for survival and power for future opportunities.
- Make sure your business model is efficient. During the global pandemic, many businesses had to adapt and change their business model. From eliminating unnecessary fixed costs to learning new ways to increase operational efficiency. Ensure that your business is running like a well-oiled machine and eliminate any non-essential expenses from the business operations.
- Get ready to thrive with new opportunities. With so many challenging times faced by our global SME community, many will take early retirement, many will sell, and many wills (unfortunately) close their doors. If you are ready, you have cash reserves, and a safety net available, you will be able to capitalize on extraordinary opportunities in the near future.