Today we’d like to introduce you to Sonja Jones.
Thank you so much for sharing your story and insight with our readers. To kick things off, how did you get started?
In 2019, I began GIP Financials, a bookkeeping and business finance consulting firm, after witnessing talented entrepreneurs need more financial acumen to grow profitable businesses. In 2020, we assisted entrepreneurs with applying for PPP and EIDL funding. We successfully helped 7 businesses receive loan forgiveness. From 2020-2022, GIP focused on bookkeeping services and accounting software setup services. In 2022, we attended our first out-of-state conference, Black Equity Con, and won our first nonprofit contract, resulting in a 213% increase in revenue. In 2023, GIP Financials attended its first trade show, Invest Fest, and expanded our services to include small business coaching and workshops. We ended the year partnering with 12 organizations and teaching 17 workshops. Our most extensive partnerships were with BLDG Memphis and Our Village United, providing technical assistance to entrepreneurs.
Would it have been a smooth road, and if not, what are some of the biggest challenges you’ve faced along the way?
Entrepreneurship is a journey that tests your resilience and determination. It’s not for the weak! You have to endure rejection and being overlooked. Our biggest challenges currently are 1. adjusting our messaging to attract our ideal clients and 2. establishing systems to scale our business effectively. But we are not deterred. We are determined to overcome these challenges and continue to grow. Also, if you plan to leave your job for full-time entrepreneurship, make sure you have a financial plan and know the specific amounts needed to replace your income, benefits, and additional savings. I planned a year in advance before leaving my job. The month after I left my job, our house experienced severe damage from a storm, resulting in a $12,000 tree removal (most of our savings). But we didn’t let this setback stop us. We found a way to bounce back and continue our journey.
Let’s switch gears a bit and talk business. What should we know?
GIP Financials LLC is a remote bookkeeping firm headquartered in Memphis, TN. GIP is a minority-owned, small business enterprise. We provide bookkeeping services for small businesses and nonprofit organizations. Our team consists of 7 teammates in 3 states. Since our business began in 2019, we’ve served over 100 clients.
The mission of GIP Financials is to empower entrepreneurs to know their numbers and position their businesses for profit. GIP’s assignment addresses the 70% of small businesses that don’t have an accountant and the 60% of small business owners who feel they need to be more knowledgeable about accounting (source: businessdit.com). These statistics prevent entrepreneurs from accessing funding and contract opportunities. Our primary services are bookkeeping, tax filing, funding assistance, and finance coaching.
What sets us apart from our competitors is our passion for teaching. We specialize in educating our audience on the fundamentals of business finance. Our signature workshops include “Bookkeeping Basics for Entrepreneurs,” “The Business Finance Blueprint,” and “Grant and Loan Tips.” Our social media platforms provide followers with snippets of our podcast, From Chaos to Clarity: Unleash Your Business Potential. Our podcast aims to give entrepreneurs insights into how financial wisdom has driven transformative changes in other businesses.
What are your plans for the future?
In 2025, we would like to develop a bookkeeping apprenticeship program for TN residents.
Contact Info:
- Website: www.gipfinancials.com
- Instagram: https://www.instagram.com/gip_financials/
- Facebook: https://www.facebook.com/GIP.FINANCIALS/
- Linkedin: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/
- Youtube: https://www.youtube.com/channel/UCT6N7PQFosCeOqUxZ8zIrXQ?view_as=subscriber
- Other: https://www.tiktok.com/@damoneylady?_t=8jCLFmOKa5u&_r=1
Image Credits
Images by Trunetta Atwater Photography, Paul & Tierani Scott, Jay R. Fogle, and Raw Glass Vision Productions
