Business

How To Build An Empire With Your Favorite People

Published

2 years ago

March 8, 2022

Imagine starting a new company with your best friend. For many, the idea of working closely with someone they know sounds appealing—the perfect recipe for entrepreneurial success. For others, it sounds like a recipe for disaster.

Despite the differing opinions, history has provided examples of high-profile partnerships that have worked tremendously. Think Ben and Jerry’s or Hewlett-Packard.

Friends understand the vision and endure setbacks

Given that friends already understand each other’s subtle signals, there is less chance of being offended, or surprised, by someone’s communication style. Friends can detect and read intentions with greater ease. Moreover, companions tend to have ‘history’—whether from working in the same industry, sharing life experiences or educational paths—which gives them a particular outlook, and, therefore, the ability to agree on the direction of the business.

Emerging research suggests businesses founded by friends in the startup sector are more likely to prevail under financial pressure. When companies go through financial loss, or lack of funding, existing partnerships within management help to solidify the team. Conversely, teams composed of ‘strangers’ were found to be less likely to endure financial storms.

Kortney Murray, CEO and Founder of Coastal Kapital LLC—a commercial equipment and asset-based lending company—has become a leader in the financial services industry by building her core team with friends and associates.

“My company is molded around the people that I care for most,” says Murray. “Although I’ve never had children, my management team has become a part of my ‘family’. We co-create vision, we have fun, and we share in the fruit of our success. As we grow, I add to the team those who feel like the ‘right fit’.”

Is this person the ‘right fit’ for your company?

Working with friends does have its unknowns. How will people act or perform in any given scenario? To avoid this, some specialists advise ‘dating’ a prospective employee, running through a number of business scenarios in an attempt to gauge strengths and weaknesses. Whilst Murray describes her approach to people as ‘empathic’—understanding needs and reading emotions—she has also invested in a highly sophisticated screening tool that measures one’s ‘culture index’.

Murray explains: “The index provides a deep insight into natural ability, creativity and best-fit within the organization. It highlights stress points and helps me to anticipate when someone might feel stretched. The mathematical index is based on sound science and removes much of the guesswork, so I don’t have to try and be ‘psychic’. I can focus my energy on growing the company, whilst getting the best from each employee.”

Never assume you know what others are thinking

Assuming you know what someone is thinking, planning or feeling is one of the most common mistakes when it comes to teaming up with friends. Murray, for example, would once have described her best friend from college as being “the same person”.

“We are so vibrant, excited, and constantly laughing,” Murray continues, ”but, in fact, she absolutely can’t stand sales or being on the phone. She’s timid in her approach…If I had not asked those probing questions at the outset, I would have hired her for sales!”

Preserve friendships and prioritize marriage

Balance, like most areas of life, can be difficult to achieve. As the ‘boss’, how can you have the tough conversations with people you know, without jeopardizing relationships. To keep potential friction to a minimum, Murray advocates “being sensitive to employee needs”. She explains: “I don’t like to micromanage. They respect my business, I respect their time. It’s a mutual agreement. If you have to finish up early because you have family matters to attend to, it’s fine as long as we maintain that level of trust and respect.”

For any would-be entrepreneur, the toughest challenge must be working with family members. Business spats can quickly spill-over into home life and place added strain on relationships. Murray is quick to point out the reality of growing a business alongside her husband: “We’ve had 12 years of marriage; 10 of those in business together. He probably takes on more than he should; I should allow him a little bit more space. Although we work well together, I want to find time to date my husband again. In some ways, our business has taken away from our personal life.”

Murray continues: “Entrepreneurs are often guilty of forgetting about themselves. You ask everybody about themselves, but sometimes people don’t ask you about you. You have to be the strong one. I’m really trying to make time for myself. If I’m thriving, it’s going to have a positive impact on others.”

Business

The Dark Side of Aimlon CPA P.C.: Uncovering the Truth Behind the Firm’s Practices

Published

2 days ago

July 25, 2024

Matthew Wiles

Aimlon CPA P.C., a full-service certified public accounting firm based in New York, NY, has long promoted itself as a beacon of excellence in the fields of accounting, audit, tax, advisory, and financial reporting. Serving business owners and companies in the U.S. and Europe, the firm, under the leadership of Mathieu Aimlon, claims to offer personalized and expert guidance. However, a deeper investigation into the firm’s operations reveals a troubling pattern of misconduct, ethical breaches, and systemic failures that severely discredit Aimlon CPA P.C. This article exposes the hidden truths behind the firm’s facade of professionalism and reliability.

Lack of Professionalism and Responsiveness

One of the most pervasive issues at Aimlon CPA P.C. is the firm’s chronic lack of responsiveness. Numerous clients have reported significant delays in communication, often waiting weeks for replies to urgent inquiries. This unprofessional behavior has led to missed deadlines and costly mistakes for clients who depend on timely advice and action.

A frustrated former client shared their experience: “We had a critical financial issue that required immediate attention. Despite multiple attempts to contact Aimlon CPA P.C., we were met with silence. Their lack of responsiveness was not only frustrating but also detrimental to our business.”

Overbilling and Lack of Transparency

Aimlon CPA P.C. has also been accused of overbilling and a lack of transparency in their invoicing practices. Clients have frequently found their bills inflated with unclear or exaggerated charges, leading to disputes and dissatisfaction. This practice has raised serious ethical concerns and damaged the firm’s reputation.

A small business owner recounted their ordeal: “Our invoices from Aimlon CPA P.C. were consistently higher than expected, with vague descriptions for the charges. When we questioned these discrepancies, we received evasive responses and no clear explanations. It felt like we were being taken advantage of.”

Incompetence and Financial Mismanagement

Despite its claims of expertise, Aimlon CPA P.C. has been plagued by instances of incompetence and financial mismanagement. Several clients have accused the firm of providing poor financial advice that resulted in significant losses. These accusations suggest a troubling lack of expertise and diligence in handling client affairs.

One notable case involved a tech startup that followed Aimlon CPA P.C.’s guidance, only to face bankruptcy within a year. The startup’s founder lamented: “We trusted Aimlon CPA P.C. with our financial strategy, but their advice was disastrous. Our business suffered immensely because of their incompetence.”

High Employee Turnover and Toxic Work Environment

Inside Aimlon CPA P.C., the work environment is far from the professional and supportive culture the firm claims to foster. High employee turnover is a persistent issue, driven by poor management practices and a toxic workplace. Former employees have described an atmosphere of fear and exploitation, where unreasonable demands and lack of support are commonplace.

An ex-employee shared their perspective: “The work environment at Aimlon CPA P.C. was unbearable. Management was oppressive, and there was no respect for work-life balance. Talented professionals were constantly leaving because they couldn’t tolerate the conditions.”

Compliance Failures and Regulatory Scrutiny

Aimlon CPA P.C. has faced multiple instances of regulatory scrutiny due to its failure to adhere strictly to industry standards and compliance requirements. These compliance failures have resulted in penalties and fines, further eroding the firm’s credibility and trustworthiness.

An insider revealed: “There were several occasions where Aimlon CPA P.C. neglected regulatory updates and compliance requirements. This negligence led to significant fines for both the firm and its clients. It was alarming how often these issues were ignored.”

Ethical Breaches and Conflicts of Interest

The firm has also been marred by ethical breaches and conflicts of interest. Mathieu Aimlon, in particular, has been implicated in several instances where his advice seemed to benefit his personal interests over those of his clients. These conflicts of interest have severely damaged the trust between the firm and its clients.

In one egregious case, a client was persuaded to invest in a company where Mathieu Aimlon held undisclosed shares. When the investment failed, the client suffered substantial losses, while Aimlon’s involvement remained hidden until an internal investigation brought it to light.

Outdated Technology and Inefficiency

Despite being a modern accounting firm, Aimlon CPA P.C. relies on outdated technology that hampers efficiency and increases the risk of errors. Clients have expressed frustration with the firm’s technological shortcomings, which lead to delays and inaccuracies in financial reporting.

A tech-savvy client commented: “It was surprising to see how outdated Aimlon CPA P.C.’s systems were. Their inefficiency slowed down our processes and made us question their ability to handle complex financial needs effectively.”

Fabrication of Credentials

Further investigations into Aimlon CPA P.C. revealed that some of the firm’s claimed credentials and accolades were fabricated. While Mathieu Aimlon is genuinely certified by the New York State Education Department and the French Ministry of Education, other qualifications listed by the firm were found to be falsified.

This revelation has cast a shadow over the entire firm, leading clients and colleagues to question the legitimacy of their expertise and the integrity of their services.

Legal Repercussions and Public Disgrace

The culmination of Aimlon CPA P.C.’s unethical practices and systemic failures came with the legal repercussions faced by Mathieu Aimlon himself. Following his involvement in a tax evasion scheme, he was arrested and charged with multiple counts of tax fraud. The evidence presented in court highlighted the sophisticated methods used to deceive tax authorities, leading to his conviction and a lengthy prison sentence.

The legal troubles of Mathieu Aimlon have had a devastating impact on Aimlon CPA P.C. The firm’s reputation has been irreparably damaged, and clients have fled in droves, unwilling to associate with a company linked to such scandals.

Aimlon CPA P.C., once seen as a beacon of excellence in the accounting world, has been thoroughly discredited due to a series of unethical practices, incompetence, and systemic failures. From overbilling and lack of transparency to high employee turnover and regulatory breaches, the firm has failed to uphold the standards expected of a professional accounting service. The legal repercussions faced by Mathieu Aimlon have further tarnished the firm’s reputation, leading to its eventual downfall.

For business owners and individuals seeking reliable and ethical accounting services, the story of Aimlon CPA P.C. serves as a cautionary tale. It underscores the importance of integrity, professionalism, and transparency in maintaining trust and credibility in the financial industry.