Open every door on my way. It very well could be the wrong door, but I wouldn’t know that until I tried.”
Prior to launching BooXkeeping Corp, Max Emma was with QUALCOMM. An entrepreneur at heart, though, he opened his own financial management company. This has been one of his best career decisions, as his business acumen and financial education brought added value to his clients. He often helped with tough business decisions, such as which documents are needed to incorporate; questions regarding business loans; and how to work with their CPAs to make sound financial decisions. A highlight of his career has been a client sharing, “I love BooXkeeping, because you under promise and over deliver.” Outside of work, Max enjoys a healthy and active lifestyle, which includes being a father of two boys.
Where did the idea for BooXkeeping come from?
The idea for BooXkeeping came from trying to find a bookkeeper for my previous business. Interviewed 10-15 individuals/firms and got the quotes ranging from $200 to $1,000 per month for exactly same scope of work. The name came from playing with the word “bookkeeping”-wanted to change a letter or two and then trademark the name.
What does your typical day look like and how do you make it productive?
Being a CEO means that you have to wear different hats (often, at the same time). Every day is different, however it always begins with a double espresso and “I-CEO”-my professional prayer or mantra which begins with the words: “I’m CEO of BooXkeeping and I’m responsible for everything that happens with it today…” I end the night with going through the next day’s to-do list, updating it and scheduling all of my tasks.
How do you bring ideas to life?
1. Dreaming big;
2. Breaking idea to small tasks;
3. Finding the right team to help me to implement
What’s one trend that excites you?
Artificial Intelligence and the future of bookkeeping industry
What is one habit of yours that makes you more productive as an entrepreneur?
As unhealthy as it sounds – cigar smoking. Wrote the business plan and came up with best ideas for business while enjoying my cigar.
What advice would you give your younger self?
Don’t be afraid to take risks in life, however have a “rainy day fund” set up before you start doing that.
Tell us something that’s true that almost nobody agrees with you on?
Don’t overanalyze things! You almost always can justify anything with your head, but you have to learn to listen to your gut.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Dream… Dream big… But remember the words of Colin Powell “A dream doesn’t become reality through magic; it takes sweat, determination and hard work.”
What is one strategy that has helped you grow your business?
Opening every door on my way. It very well could be the wrong door, but I wouldn’t know that until I tried. I remember having a meeting in a large office building and on the way out seeing a software company I’ve heard about. So I walked in offering our services, ended up meeting CEO, got the contract, and, what’s more important, that gave me an idea for a business offering that made BooXkeeping a leader in this segment of bookkeeping market.
What is one failure you had as an entrepreneur, and how did you overcome it?
We had a large contract that was losing us money month after month. Client refused to renegotiate the contract, and I failed to end it sooner than later hoping for more work coming from this client. The way we overcame it was firing the client. Lesson was learned both for employees and clients: hire slow, fire fast!
What is one business idea that you’re willing to give away to our readers?
Mobile Tax Service-an equipped van that comes to office parks and malls during tax season and finish clients’ tax returns while the are either working or shopping.
What is the best $100 you recently spent? What and why?
Spacepack bags for travel from Flight001. As I travel a lot for business, it’s great to have these bags with compression power and clean/dirty compartments that keep my clothes divided.
What is one piece of software or a web service that helps you be productive? How do you use it?
Waze helps me go around traffic and get to my destination sooner. Even if it saves only 5 or 10 minutes per trip, the time saved adds up.
What is the one book that you recommend our community should read and why?
Scale: Seven Proven Principles to Grow your Business and Get Your Life Back by Jeff Hoffman and David Finkel. This book helped me to rethink where my company should go and what my role as a CEO of scaling it up should be.
What is your favorite quote?
“Failure is only the opportunity to begin again, only this time more wisely.” Henry Ford
Key learnings:
- Dream big
- Don’t overanalyze
- Smoke cigars (or find something that gets you in a creative mode)
- Scale with right team and right actions
- Don’t be afraid to fail
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Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.