Client Spotlight

Small Business Focus

Finding Balance in Life and in Business

How Padgett is serving Rick Mathes and Egoscue Clinic of Austin, Texas 

“I was looking not just for an accountant, but for an accountant who wanted to be a partner. My feeling was Scott and Padgett wanted to help our business thrive.” — Rick 

In the blink of an eye, Rick Mathes’s life changed. At the age of 36, he was in a near-fatal automobile accident that his doctors told him would forever alter how he lived. His medical team said he’d never play competitive tennis again and that he’d likely need a wheelchair by the age of 50. That’s when he discovered The Egoscue Method, an innovative approach to combatting chronic pain through a personalized program of exercises. 

He would embark on seven-hour, round-trip visits to an Egoscue clinic in San Diego, California, and within a year he was pain free, off all his medications and back to living an active lifestyle. The experience was so profound, it led him to become certified as an Egoscue therapist and to open the first franchised clinic in Austin, Texas in 2003

While Rick put his emphasis on building his practice, he was suffering from a new kind of pain – that of an unengaged accountant. So, he set out to seek a new business advisor. That’s how he found Scott Scarano, the owner of PADGETT BUSINESS SERVICES® in Raleigh-Durham. Rick trusted his instincts and found a trusted partner to help his business thrive. 

We spent some time with Rick to learn a little more about his journey growing a business and what it’s been like working with the Padgett team. 

PADGETT: What attracted you to the Egoscue method? 

RICK: There are several differences between the way Egoscue operates and the way traditional physical therapy operates. Physical therapy is a great tool for the right problems. For generalized low back pain, hip pain, neck pain and other types of pain that lack a clear anthology behind why this person hurts, physical therapy is often not particularly effective.  

Why? Physical therapy wants to strengthen what is perceived as weak and stretch what it feels is tight. I want to do neither. I want to figure out why muscles are tight or weak and why they have the pain. At Egoscue, we don’t treat symptoms. We treat the reason why the symptom exists. We don’t want to just help people come back to balance; we want equip people to have the tools to keep themselves in balance for the rest of their lives. 

PADGETT: How did you come to work with Scott and the Padgett NC team? 

RICK: I was frustrated with our last accountant for a number of different reasons. They weren’t particularly communicative. They weren’t super responsive. Tax time last year did not go great. They put everything off until the last minute, so I only had a few hours to scramble and get things ready when for weeks I had been asking them ‘do you need anything?’ They just weren’t fully invested from my perspective. 

We have Xero as our software, and I looked at their list of certified providers of which Padgett is one. One of the things that Pete Egoscue (the founder of the Egoscue Method) teaches us as we try to find clients and that I used to find (Padgett) was “you always know.” It’s important to trust your instincts because they will never fail you.  

As soon as I connected with Scott it was evident that I’ve got a real human being here who is not just trying to sign me up and get some cash for his business. He genuinely wants to be of service to us. I was looking not just for an accountant, but for an accountant who wanted to be a partner. My feeling was Scott and Padgett wanted to help our business thrive. 

PADGETT: On a day-to-day basis, how are you working with the Padgett team? 

RICK: Padgett handles our business taxes. We work with Matt Ray, our personal accountant. He’s been super responsive to us, and he’s always got great ideas on how to approach things. When I need something bigger and more conceptual, Scott and I engage and he’s been great. 

PADGETT: What’s one thing has surprised you about owning a business? 

RICK: We tend to approach life with a certain set of rules. For this client to do better, these things should happen. For the business to do well, these things need to happen. For me to be OK, these things need to happen. And COVID has blown a lot of that stuff up. When you finally realize that I don’t need to go out and do this in order to feel joy or find peace, it hammers home that those things aren’t external to us where we must go out and find them. They’re internal to us, and we just must allow them to flow through us. 

PADGETT: Let’s talk about inspiration, suppose you could have dinner with anyone, living or dead, who would it be and why? 

RICK: I’m going to give you two answers. My first one is easy — Bruce Springsteen. I’ve been a Springsteen fan since I was 14 years old, listening to Born To Run on a cassette player in my bedroom in 1975, and it changed my life. His music has been the soundtrack of my life, and I got a chance to meet him, and I told him “thank you for being a lovely companion for more than 40 years.” It was a nice moment. 

Also, I would love to have dinner with Martin Luther King Jr. I would love to talk about what he saw with regards to social justice and racism in the 1950s and the 1960s, and then hear from him on where we are now. I’d like to hear from him on how we can fulfill the promise of the U.S. Constitution. The words are real pretty, but we don’t live it in this country. We don’t have justice for all. We have justice for some. We need to build a society that really does allow for the pursuit of life, liberty and the pursuit of happiness for all. 

Partnering with Padgett 

Thanks to Padgett, Rick now has a partner he can depend on, enjoying open lines of communication and garnering timely responses to tricky questions that have helped to put his business in a position to grow and succeed. 

To put in the words of Matt Ray, Rick’s accounting partner at Padgett: “If you’re only connecting with your accountant at tax time, you’ve likely already missed the chance to act on many opportunities.  The return should be just the final step in a plan that you have been developing throughout the prior year.  I’m happy to be someone Rick can call year-round, not just to advise on tax regulations, but to help his business grow.” 

If you’re bent out of shape regarding your business’s accounting needs, reach out to Padgett’s team of accountants, Enrolled Agents and tax professionals and let us go to work for you. 

Communication & Counsel Simplify Selling Shoes

How Padgett NC is serving Shawn Langton and Kujo Yardwear 

“Padgett understood what we were trying to do right from the start, and we hit it off immediately.” – Shawn  

Shawn Langton has considered himself a “sneakerhead” since he was a kid, dreaming of working in the shoe industry for as long as he can remember. It just took a pair of soggy old tennis shoes to convince him to take the leap into a new life. In 2018, he launched Kujo Yardwear, a shoe and apparel company geared toward creating comfortable, durable products that can be worn for yard work and landscaping. 

While Kujo has enjoyed steady, solid growth, thanks to a popular product and an effective e-commerce strategy, Shawn, who lives near Raleigh, North Carolina, said the company’s previous accountant struggled with communication and failed to provide innovative ideas to drive growth. 

Enter Scott Scarano, the owner of a nearby Padgett office whom Shawn found thanks to a collection of great online reviews. The two made an instant connection, with Padgett coming in to provide the payroll, bookkeeping and tax support that ultimately alleviated all those earlier headaches. 

We sat down with Shawn for a Q&A session to learn more about his experience starting a company, what inspires him, and what it’s like working with the Padgett NC team.  

PADGETT: How did you get the idea to start the company? 

SHAWN: Kujo Yardwear started out of personal experience. As a homeowner always mowing my lawn, I would just wear old tennis shoes. My feet would get wet. I would slip on the hills. They weren’t working well, so I was always searching for a better solution, and I hated heavy work boots. I was looking for something light, functional and perfect for yardwork. I couldn’t find anything that worked, so I eventually just said I’m going to create this thing. 

PADGETT: So, what’s your working relationship like with Padgett? 

SHAWN: It’s great. I’ve been extremely happy and very pleased. The communication is fantastic, and the responsiveness is there. Things always come up and being able to trust Padgett to help takes a big weight off my shoulders. There are so many hats that I wear between inventory, products, sales and customer service, and I do not have an expertise in things like sales tax or prepping for our federal taxes or just how to do our books month-to-month. Working with Padgett has been a lifesaver. 

PADGETT: What are some forward-thinking ideas that Padgett has brought to the table? 

SHAWN: Before, it seemed like everything was really convoluted. As soon as Matt and Brett from the Padgett NC team really investigated things, they had multiple ideas right away of how we could streamline and simplify. That made a big difference. Now I can get reports way easier, and everything is less complicated.  

Another thing is how we calculate our inventory. There were a lot of inventory errors and our cost of goods were always off with our previous firm. Matt had a smart way for us to calculate cost of goods, which gives us tax savings and is an easier way to keep track of everything. 

PADGETT: Let’s talk about inspiration, suppose you could have lunch with anyone, living or dead, who would it be and why? 

SHAWN: Probably Phil Knight from Nike. I read the book Shoe Dog which is his story. I was fascinated by it, how he went overseas to Japan and, in his own words, didn’t know what he was doing but just went after it. It was inspiring to me. I would love to sit down with him and pick his brain on the footwear industry and everything he did to build Nike into the brand it is. 

Partnering with Padgett 

Thanks to Padgett, Shawn now has the communication and transparency in his financial reporting that was lacking with his previous provider, as well as someone who is adept at using the Xero accounting software that he relies on. 

“Getting the financial reports used to be the end goal for Kujo,” said Matt Ray with the Padgett office in Raleigh. “We were able to streamline systems to make the financials our starting point. Now we can use that information to help guide Shawn in making the big decisions that make his business more profitable. In a year that was tough for so many businesses, Kujo was able to substantially grow its revenue and bring on additional staff.”

Whether you’re doing the landscaping or fashioning the shoes for the landscaper, Padgett’s team of CPAs, Enrolled Agents and tax professionals is ready to go to work for your business.  

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