00:00 – 00:09
John Wilson: Mason, I can't thank you enough for being on the CEO Global Network podcast today. It's just great of you to take the time to be with us. So thanks a lot for doing that, Mason. Now, I just want, before we get started with the questions, because I got some questions for you. But just before we start with those.

00:09 – 00:15
Mason Twitchett: Thanks for having me.

00:15 – 01:01
John Wilson: I just want to let everybody know who's listening and watching this, that you are the president and corporate tax manager of Collective Accounting Co. You are the former income tax advisor at Reed Financial Strategies… You’ve got a bachelor of business administration from Laurentian University and an accounting diploma from Mohawk College. And you have a reputation for your commitment to excellence…

01:01 – 01:05
John Wilson: So again, welcome and let me roll right into the first question, okay? How did your experience as an income tax advisor shape your vision for Collective Accounting?

01:05 – 02:01
Mason Twitchett: So the main thing that I would see when I started in my role at Reid Financial Strategies is we get clients that were generally receiving poor guidance from prior firms… My goal was to create an end-to-end annual servicing, where we actually tailored solutions to the client and their needs.

02:01 – 02:09
John Wilson: Yeah, that makes a lot of sense. What's the most surprising lesson you've learned leading your own accounting firm?

02:09 – 02:52
Mason Twitchett: Two big ones: first, it’s very hard to let go of work in this industry… second, managing several dozen, sometimes hundreds, of ongoing projects at the same time is extremely challenging… My strategy is having a massive whiteboard with a Kanban style, very visual.

02:52 – 02:53
John Wilson: It would be a big challenge for everybody at that stage of building a business. How do you simplify complex financial decisions for your clients without losing accuracy?

02:53 – 03:55
Mason Twitchett: I was mentored in an office obsessed with one-pagers… we create forecasting models and walk clients through every step, usually two to three scenarios. Always test your work… so I can sit down with that client with a one-pager and walk them through it.

03:55 – 04:00
John Wilson: That was a great lesson learned from your experience. What strategies do you use to stay ahead of the ever-changing tax laws and regulations?

04:00 – 05:18
Mason Twitchett: You have to read a lot… subscribe to experts in the field, attend webinars, continuing education. I also hired a CPA, Laura, who brings new knowledge… plus I talk regularly with my mentor, a CFA, to stay updated.

05:18 – 05:20
John Wilson: You've got a brain trust around you that can help you do that. How do you approach building trust and long-term relationships with business owners?

05:20 – 06:45
Mason Twitchett: Two things: passion for what I do and authentic interest in clients. Meetings always start with common interests or family before business… helps build trust fast and leads to high retention.

06:45 – 07:08
John Wilson: That authenticity and passion really come through. What advice would you give entrepreneurs about balancing financial strategy with business growth?

07:16 – 08:32
Mason Twitchett: Budgeting and forecasting are key… many entrepreneurs don’t have a plan, and numbers float in thin air… spend time weekly reviewing your budget, project the month ahead, track accounts receivable. Having a target ensures you can react effectively.

08:32 – 09:00
John Wilson: Mason, can't thank you enough for being on the CEO Global Network podcast. Really appreciate you taking the time to be with us.

09:00
Mason Twitchett: Likewise, thank you so much for having me.