We had the good fortune of connecting with Kc Chohan and we’ve shared our conversation below.
Hi Kc, what’s something about your industry that outsiders are probably unaware of?
That when you start a business you can decide which legal system you wish to use to govern that company by Common law principles are the most unknown legal principles taught in the USA yet they are the ones that provide the owner the most advantages if used correctly
Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
If you could imagine a kid growing up in the countryside of England, lots of beautiful green fields and rolling hills running around playing in the mud with his dog, that was basically me as a kid. My hopeless curiosity and desire to grow led me to be interested in business, specifically big business with big problems to solve because I love solving problems and really pushing what people consider the limits Then I ended up getting a degree in business and finance thinking that those two combined would be a great skill set to understand and thrive in business, not anticipating or thinking I would start an accounting firm. Then I went in the direction of being a boring accountant and working on bookkeeping – which makes most people have a visceral cringe when I mention that, like, “Oh dam, that sounds terribly boring.” It was a great opportunity, not something I could say no to especially as I had the job before I had even finished university. I couldn’t say no to an immediate paycheck but… Becoming an accounting as you can probably imagine was kind of miserable doing the same thing day in day out because I REALIZED I had so much more to offer than just hiding in the books. It became apparent to me that this was not aligned with my unique disposition and personality and one thing I believe in strongly is that to be successful, people need to live in a place they thrive. I’m so much more of an outgoing people person that I am an introvert and wanted to become an entrepreneur so that I could understand how to build a sustainable business. So unlike everybody else from my university program who moved to London or Dubai and basically just worked in finance and investment banking, I moved back to my home town Middlesbrough. After working at the accounting firm I quickly realized this was not a great fit for what I wanted out of life, going back to my unique personality I knew I needed a place to have a bigger impact so I then moved into working as a management accountant in house for a big Fortune 500 company called Flowserve. After 8 years working with Flowserve relocating 2 times and then eventually internationally to Los Angeles I had enough of the corporate lifestyle and wanted to try something new. For almost a decade I had been performing: Month-end close Cashflow analysis Forecasting Budgeting Building better systems and processes By the time I left, Flowserve was doing $4.7 Billion in annual sales But honestly… I got bored with corporate America. Very different in the US, and a focus on maximizing everything instead of optimizing, perception over results, I’m all about results over perception. I then went into the startup world, working with CEOs of much smaller companies than the Billion dollar corporate environment I was used to. Open communication with marketing and operations and finance allowed us to optimize not just each system but how they interact and leads to the desired outcome – small businesses often have different preferred outcomes than fortune 500 I started to thrive quickly and realized I could have a much bigger impact in this role than in previous roles. I was working with global event companies to technology companies helping them scale and hyper grow. This was definitely my sweet spot and the deeper I got into this the more people would reach out to me and ask for my advice. Finally, I realized “Hey, I’m pretty good at the CFO and tax optimization thing. There is a huge opportunity to add value to small business owners, generally, people between $2 and $30 million, who need expert financial support but don’t need a full-time CFO”, again a lot of this is preference-based, if you don’t want to grow, you may not need a CFO We consistently help our clients reach single-digit tax rates by using our unique system of 1041 complex trusts and foundations, using specific rules set by the supreme court allows us to use the same structures as the powerful elites and the billionaires use to legally reduce tax. Although our structure isn’t for everyone we have helped our clients save millions on taxes so they can better help their families, communities, and charities that they are activiely involved with
Any places to eat or things to do that you can share with our readers? If they have a friend visiting town, what are some spots they could take them to?
malibu beach observatory LA Live (lakers game) Hollywood sign hike Korean BBQ Catch LA Nobu Malibu Mastero Steakhouse BH Golf at LA Country Club Boat Ride and jet ski’s from Marina Del Rey shopping in BH Waldorf Rooftop Greystone Manor day trip to Catalina island
The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
Tony Robbins, Im a huge Tony fan and have attended many of him seminars, he says a lot of amazing things but one of the key takeaways for me is that “your network is your net worth” surround yourself with positive people and they will help elevate you