It is often said that a company’s success starts from the top. This adage is especially true in the case of TGG Accounting, a leading provider of outsourced accounting and financial services.
TGG Accounting is the brainchild of its current CEO, Matt Garrett. The San Diego native started the firm in 2006 for one main purpose — to reduce the abysmally high failure rate among small and medium-sized businesses.
Garrett describes himself as an entrepreneur and accountant, two titles he acknowledges can contrast each other. Entrepreneurs must break the status quo and practice experimental thinking. Accountants, on the other hand, must work with precision, accuracy, and set formulas.
This duality gives Garrett unique insight into the importance of financials, the numbers that often make or break businesses. From Garrett’s perspective, the best way to keep promising companies in business is to link them with the financial expertise they need in the early stages, but in a way that emerging businesses can afford.
His goal became the inspiration for TGG Accounting, which has served more than 500 clients over the past 15 years. The influences and experiences that prepared Garrett to serve as a successful executive and industry thought leader can be found throughout Garrett’s entrepreneurial journey.
Roots of Success: Matt Garrett’s Early Career
After witnessing the first-hand effects of a recession as a child growing up in Southern California, Garrett found the job market too unstable and sought to venture out on his own. His entrepreneurial streak began in college. While studying Human and Organizational Development at Vanderbilt University, he launched and sold several successful ventures.
One of the first obstacles he encountered as a young business owner was the complete lack of professional financial assistance. While he had the knack and knowledge of numbers to run a business correctly, he couldn’t access an accountant who could help him.
His experiences led to an important question that he has since sought to answer. Why can’t smaller businesses receive the same expert financial solutions as larger firms? Determined to find a way to give businesses the financial information they need to succeed, Garrett started TGG Accounting.
He adopted the outsourcing model to make TGG’s services more accessible. Businesses in need of professional financial services can consult an outsource accounting service rather than taking on the costs of a full-time in-house hire.
Garrett’s model filled a much-needed gap. Small and medium-sized companies facing complex financial problems could now access the same solutions as Fortune 500 firms for a fraction of the price. Today, TGG Accounting serves firms with annual revenues of up to $100 million.
Career Achievements and Milestones
The same year Garrett established TGG, he placed as a finalist in the prestigious Ernst & Young Entrepreneur of the Year award. After seven years at the helm of TGG, Garrett earned a spot in the San Diego Daily Transcript’s Top 25 CEO list.
TGG is also a four-time winner of the coveted San Diego’s 50 Best Places to Work award. The company has also appeared on the Inc. 5000 Fastest-Growing Private Companies five times.
Under Garrett’s leadership, TGG continues to grow. The company now employs team members nationwide and has supported mergers and acquisition transactions valued at over $1 billion.
Garrett’s Mission and Vision for TGG Accounting
As the CEO, Garrett has established a company culture committed to the success and growth of its business clients. TGG Accounting is a mission-driven firm, striving to bring financial stability, peace of mind, and success to its ever-growing list of clients.
The company’s principles, which include mantras such as Listen, Understand, Repeat, and Be Proactive, reflect Garrett’s commitment to delivering results alongside an excellent customer experience.
The foundation of the firm’s approach is the TGG Way, a system Garrett developed and perfected over his years of experience.
In order to provide the breadth of expertise businesses need to manage their finances, TGG assigns every client to a four-person team. The team is made up of two executives, a designated outsourced CFO, and a financial controller. These consultants provide high-level analysis to help clients collect and apply their historical financial data to strategic planning.
The second half of the team, the account manager and staff accountant handle daily financial transactions and establish above-board processes that ensure accuracy and regulatory compliance.
As a part of Garrett’s vision to improve the financial health of all businesses, these accounting teams do not simply complete a project. They become a vital part of the team. TGG professionals also educate their clients on sound financial processes to ensure that the results are lasting and sustainable.
The TGG Way has resulted in successful outcomes for businesses across industries. Garrett’s past clients include companies in the construction, manufacturing, and eCommerce spaces.
Public Speaking Roles and Authorship
When not overseeing operations at TGG, Garrett shares his knowledge as a public speaker and accomplished author.
Garrett is a member of Vistage, the largest executive coaching organization in the world. He offers workshops and presentations centered around key business topics. For example, his workshop, The Art and Science of Getting the Most out of Your Money, takes a deep dive into the necessary steps for building sustainable wealth.
He also facilitates The Numbers Aren’t The Most Important Thing For Your Business–They Are Everything, a two-part workshop focused on helping business owners increase their profitability.
By the end of the program, attendees gain the tools and strategy to boost their revenue and business values by upwards of $250,000.
In addition to his interactive workshops, Garrett also hosts a webinar series titled TGG Bonfire Chats. In each video, he and another experienced member of the TGG team break down high-level concepts into practical and actionable advice that businesses can apply to boost their growth.
Past webinars have discussed end-of-year financial planning, cash flow forecasting strategies, and business tax planning.
In 2018, Garrett published The TGG Way, a compilation of real-life scenarios and the business philosophies that underpin TGG Accounting’s approach.
In the book, Garrett describes many of the foundational principles of TGG Accounting processes, including the three most important rules of accounting and the company’s 20 small business accounting beliefs. The TGG Way is a valuable read for all small to medium-sized business owners.
Garrett Remains a Thought Leader
Outside of his work with TGG, Garrett maintains a high profile in the outsourced accounting industry. He is a regular contributor to Entrepreneur magazine, where he writes engaging articles for other visionaries and risk-takers.
He also shares his insights through TGG’s extensive video content library. Business owners and finance professionals can find a plethora of resources detailing processes such as contingency planning, business valuations, and forecasting.
Garrett has also appeared in several news outlets, including an in-depth interview with the online publication, Shoutout Social. On the TGG blog, he also shares his thoughts on the latest industry developments, including new accounting regulations, the state of the economy, and cybersecurity,
Conclusion
After 15 years leading TGG, Garrett has more on the horizon. The firm has since expanded from its San Diego base to offices in Denver and Irvine. As the company grows, Garrett aims to increase TGG’s impact on the business community and connect more entrepreneurs to essential financial resources.
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