Avsnitt
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Drawing from a recent client experience, I'll highlight key factors to consider, such as state-specific tax nuances and the importance of specialized knowledge in areas like real estate. I’ll also share my honest approach to when outsourcing or hiring a different accountant is the best move for optimizing your tax strategy.
If you're ready to gain insights that could significantly impact your financial planning and tax efficiency, this episode is for you. Remember, the information provided is for educational purposes and not individual tax advice. Tune in to learn more about making informed choices that serve your best interests.
What You'll hear in this episode:
[2:35] Factors to Consider for Personal Tax Returns
[3:10] State-Specific Tax Considerations
[4:30] Importance of Specialized Knowledge in Tax Strategy
[5:20] Honesty About Expertise and Client Recommendations
[6:20] Choosing the Right Accountant for Your Needs
If you like this episode, check out:
What Actually Happens If I Commingle Business and Personal Finances?
Why Should You Separate Your Business Money from Personal Finances?
3 Reasons to Separate Your Business Money from Personal
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I dive into a real-life cautionary tale about an eight-figure business that unexpectedly faced payroll issues despite being highly profitable. I share insights on the critical difference between profit and cash flow, and highlight how blind spots in cash flow management can create significant challenges for even the most successful businesses. Through this client's experience, we explore the importance of weekly cash flow forecasting, the necessity of strict collections processes, and how to ensure you maintain your financial commitments.
Learn how to optimize your cash flow and prevent severe financial pitfalls in your own business by adopting effective strategies for managing invoicing, collections, and payroll schedules. Tune in to uncover practical tips and transformative insights that will help you create a business that not only scales but sustains its financial health.
What You'll hear in this episode:
[00:50] Profit vs Cashflow: A Real Client Story
[02:20] The Importance of Cashflow Forecasting
[05:15] Improving Collections and Cashflow Management
[07:25] The Importance of Having Protocols in Place to Manage Cash Flow Even When Clients Do Not Pay on Time
If you like this episode, check out:
Are You Sabotaging Your Own Cash Flow?
Start with This Financial Metric (Financial Priority Formula Part 1)
Cash Management Strategies
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Saknas det avsnitt?
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In this episode, I dive deep into the intricacies of tax season and how it's affecting business owners. We’ll explore common questions around tax deductions, tax savings, and the strategies that are often suggested by various sources on the internet. While there are many legitimate strategies out there, I highlight the potential pitfalls and time costs related to overcomplicating your tax approach.
Through real-life anecdotes and practical advice, I urge you to reallocate your time towards activities that drive business growth, rather than spending countless hours on tax strategies that yield minimal returns. This episode encourages business owners to focus on building a profitable, high-value enterprise and to use simpler, effective tax practices that don’t distract from the primary mission of growing their business. Tune in to understand how to balance tax savings with business productivity and set yourself up for long-term success.
What You'll hear in this episode:
[0:50] Common Tax Questions During Tax Season
[1:15] Overthinking Tax Deductions
[2:00] Evaluating Tax Strategies
[3:25] The Cost of Maintaining Tax Strategies
[4:25] Focusing on Business Growth Over Tax Savings
[5:55] When Tax Strategies Make Sense
[7:55] The Importance of Developing Good Habits in The Early Stage of a Business
If you like this episode, check out:
What Entrepreneurs Need to Know About Tax Deductions
The Truth About Tax Savings and Strategies
Is Hiring A Tax Strategist For You?
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I guide you through the crucial distinction between profit and cashflow—two terms often mistakenly used interchangeably. You'll learn why understanding the difference is essential for your business's financial health. We'll cover how profit is generated purely through business operations, representing what’s left after expenses. In contrast, cash flow accounts for all movements of money in and out of your bank account, including loan payments, distributions, and investments. Realizing that you can be profitable on paper but still struggling with cashflow issues could be a game-changer for your financial strategy. We'll also dive into the importance of a cashflow forecast and how it can be a Swiss army knife for business owners, helping you navigate your weekly, monthly, and yearly financial planning. Stay tuned as I empower you with the knowledge to simplify money and take actionable steps towards a more financially secure business. What You'll hear in this episode: [0:50 Understanding Profit vs. Cashflow [2:25] Cash Flow in Relationship to Operations and Cash Balance [4:10] The Importance of Cashflow [6:00] The Importance of Asking Your CFO About Your Statement of Cash Flows And Your Profit and Loss Balance Sheet [8:10] Practical Tips for Managing Cashflow If you like this episode, check out: Differentiating Between Margin and Markup Maximize Profit and Cash Flow (Financial Priority Formula Part 2) How You Know You Need a CFO Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I'll discuss how to decipher your profit and loss statement to identify if pricing is a problem, and how to make strategic adjustments to scale your business effectively. By analyzing core offers, gross margins, and net margins, we'll explore ways to optimize profitability. I'll also share practical strategies to align your pricing with market value, reduce costs, and structure offers to encourage customer loyalty. Whether you're struggling with cash flow or just curious about boosting your margins, this episode provides actionable insights to help you make more informed financial decisions. Tune in and transform your approach to pricing and profitability!
What You'll hear in this episode:
[00:50] Understanding Profitability and Cash Flow
[01:50] The Importance of Gross and Net Margins
[03:10] Analyzing Your Core Offer's Profitability
[04:15] Strategies to Improve Gross Margin
[05:20] Pricing Strategies and Market Alignment
[07:30] Incentivizing Customer Purchases
[09:05] Testing and Adjusting Your Pricing
[11:30] Final Thoughts on Pricing and Profitability
If you like this episode, check out:
How to Package and Price Consulting Services with Michael Zipursky
Avoid These Pricing Red Flags with John Ray
Differentiating Between Margin and Markup
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Today I discuss the common issue of commingling personal and business expenses, a practice that many entrepreneurs unintentionally fall into. While it's understandable to make occasional mistakes, it's vital to know how to handle these situations to avoid significant repercussions like audits. I'll share key pointers on why recurring personal expenses should never go through your business account and how to better manage your personal finances. Additionally, I'll explain why it's smarter to increase your salary or distributions rather than mix expenses, and how frequent usage of your business card for personal transactions can cost you more in bookkeeping fees without offering any tax benefits. Tune in to learn strategies for maintaining a clear distinction between your personal and business finances, making informed decisions, and knowing when and how to take aggressive tax positions responsibly.
What You'll hear in this episode:
[0:50] The Reality of Commingling Personal and Business Expenses
[1:25] Key Points on Handling Personal Expenses in Business
[5:25] Mindset Differences and Financial Awareness
[6:55] The Cost of Commingling and Aggressive Tax Positions
If you like this episode, check out:
What Actually Happens If I Commingle Business and Personal Finances?
How Can Three Simple Steps Ease Tax Season Anxiety?
What Qualifies as a Deduction
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I dive into the crucial distinction between a financial professional who merely reports results and a true advisor who offers valuable insights and guidance. If someone is just giving you the numbers without explaining how you got there, why you’re there, or what needs to change for better financial trajectory, they may not be the advisor you need for business growth. Join me as I explore the importance of having a CFO-type adviser who adds intrinsic value beyond just reporting the results. Tune in to find out what you should be looking for in a financial advisor to help you scale your business effectively.
What You'll hear in this episode:
[1:55] The Unfulfilling Nature of Traditional Consulting
[2:55] The Value of Problem Solving in Accounting
[3:35] Encouraging Accountants to Provide Solutions
[5:35] How to Get More from Your Accountant
[8:30] Building a Sustainable and Profitable Business
If you like this episode, check out:
Boosting Business with Better Client Care
Building Value in Your Business While Growing with Jill Simonds
Discover Your Value by Serving More with John Ray
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I reflect on a significant lesson from leaving my corporate job. I discuss the fears associated with leaving a secure 9 to 5, the illusions about the risks involved, and how you're not truly starting from scratch but rather equipped with valuable skills. Whether you're contemplating a career change, have already taken the leap, or are looking to understand the true risks and rewards, this episode is for you. I'll also share insights on how to leverage your accumulated skills and offer actionable advice to ensure your success in entrepreneurship. Tune in to transform your fear into confidence and make the jump to a more fulfilling professional life!
What You'll hear in this episode:
[0:50] Reflecting on Leaving a Corporate Job
[2:10] Overcoming the Fear of Leaving
[4:05] Skills and Experience Matter
[7:19] Evaluating Your Readiness
[9:00] Making the Jump
If you like this episode, check out:
The Two Ways You Earn Money in a Business
Why Tolerating Risk Can Build Value
Silence These Voices In Order to Succeed
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Today, I share the simplest approach to budgeting for your business. You'll learn how to create a profit plan using a streamlined method we've been implementing for our clients. This method helps you understand your financial standing without the complexities often associated with budgeting. I'll walk you through key concepts like profit margins, cost of goods, acquisition costs, and operating costs. Discover how to categorize your expenses into three main areas—fulfillment, acquisition, and operations and set target percentages for each. This episode is designed to empower you with the tools to make informed, intentional financial decisions for your business. Whether you need to sync your chart of accounts with your budget or require a method to track your profit plan, I've got you covered. Let's make the financial side of your business more enjoyable and less daunting. Tune in and take the first step towards a more profitable year! What You'll hear in this episode: [0:50] Simplified Budgeting Approach [2:20] Understanding Profit Plans [3:30] Categorizing Business Costs [5:15] Setting Budget Targets [7:35] Prioritizing Business Spending [13:25] Accountability and Adjustments If you like this episode, check out: Start with This Financial Metric (Financial Priority Formula Part 1) How to Make Spending Decisions Crafting a Profit Plan That Drives Your Business Forward Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I get candid about a topic that's been on my mind—what sets a CFO apart from a traditional accountant. I'll dive into my biggest fear as a CFO: not delivering enough value and being seen as just another run-of-the-mill accountant. We work hard to differentiate our services, positioning ourselves as strategists who happen to be accountants, and I’ll share why this matters.
From discussing industry practices to providing analogies with Spirit Airlines and Delta, I'll clarify why comparing fractional CFO services to regular bookkeeping is like comparing apples to oranges. Plus, you’ll hear about the importance of client collaboration and how our strategic input can yield multi-thousand-dollar partnerships. If you're an entrepreneur looking to understand the deeper impact a CFO can make, this episode is for you. Tune in and let's grow your wealth together while keeping things enjoyable. Don't forget to leave a review on your favorite podcast platform!
What You'll hear in this episode:
[0:50] Understanding the Role of a CFO
[1:50] Differentiating CFOs from Accountants
[2:50] Challenges and Fears of a CFO
[5:15] Client Collaboration and Value Delivery
[8:00] Overcoming Fears and Ensuring Value
If you like this episode, check out:
Why It's So Hard to Communicate Our Value with Lynn Smith
Mastering Your Messaging with Meghan Clor
Creating a Memorable Customer Experience with Brittany Driscoll
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I sit down with my friend and mentor Lori Harder, the podcast host of 'Earn Your Happy' and the founder and CEO of Gloci. Lori shares her incredible journey from an in-debt high school dropout to a multimillionaire serial entrepreneur. We dive deep into her experiences, from her initial venture in fitness and network marketing to the challenging yet rewarding pivot from her first iteration of Gloci, originally called Light Pink. Lori opens up about the emotional and strategic challenges of pivoting a business, the importance of persistence, and how to handle the fear of making or facing tough decisions. This episode is a must-listen if you've ever been afraid to pivot in your business or felt the weight of entrepreneurial challenges. Don't miss Lori's invaluable insights and her advice on maintaining confidence and navigating through the messy middle of business. What You'll hear in this episode: [1:20] Meet Lori Harder [3:30] Lori's Entrepreneurial Journey and Personal Development [5:55] The Importance of Mindset in Business [7:55] Lori's Venture into Consumer Products [14:35] The Birth of Glossy and Overcoming Challenges [26:50] Facing Hard Truths in Business [27:25] The Emotional Weight of Investor Money [28:55] Pivoting to a New Business Model [29:45] Communicating the Pivot to Investors [30:50] Learning from Business Mentors [34:00] The Importance of Asking for Help [36:10] Embracing Hard Conversations [47:15] The Role of Financial Clarity [48:15] Mastermind Programs and Mentorship If you like this episode, check out: How Katie Savarise Built a Culture, Not Just a Brand Hiring the Right Pro (Interview on She Leads First Podcast) One Why and How to Embrace More Failure in Business with Lynn Smith Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Let's dive into my journey to becoming a finance professional, insights on cash flow forecasting, the nuances of financial metrics like P&L statements, and strategic investments to grow your business.
We also discuss the emotional aspects of financial management and how to navigate the metrics that truly matter for your business's health. If you've ever felt overwhelmed by the financial side of your business, this episode will equip you with practical tools and a clearer understanding to help you succeed.
What You'll hear in this episode:
[2:15] Shannon's Journey to Becoming a CPA
[6:15] The Impact of Personal Loss
[10:20] Understanding Financial Health
[21:00] Hiring and Cashflow Forecasting
[27:35] Connecting Financial Tools
If you like this episode, check out:
Shannon's Appearance on "The Unapologetic Entrepreneur" with Amanda McKinney
How Katie Savarise Built a Culture, Not Just a Brand
Why Tolerating Risk Can Build Value
Check out "The Million Dollar Machine" Podcast: https://podcasts.apple.com/br/podcast/100-the-million-dollar-machinew-ernesto-mandowsky/id1625319682?i=1000669906096
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Today, I dive into crucial considerations for investing in businesses, applicable whether you’re an investor or a business owner seeking capital. Drawing from a recent conversation with a friend receiving numerous business proposals and pitch decks, I created a comprehensive checklist of factors to evaluate.
I emphasize understanding financials, team management, unique expertise, profit management, and cash flow. Additionally, I explore the importance of knowing investment time horizons, exit plans, and your rights as an investor. If you’re looking to invest wisely or attract investors, this episode is packed with invaluable insights. Listen in to arm yourself with knowledge for making informed investment decisions and ensuring your capital works effectively for you.
What You'll hear in this episode:
[1:55] Key Questions to Ask Potential Investments
[5:55] Understanding Financials and Cash Flow
[6:45] The Importance of Knowing Where Your Money Goes
[8:35] Investor Rights and Share Classes
[11:10] Evaluating Business Projections and Exit Plans
[15:25] Creative Investment Structures
If you like this episode, check out:
Must-haves for an Investor Pitch Deck
Using Your Money Story to Grow with Bob Wheeler
Adopting an Investor Mindset with Tess Waresmith
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
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We dive into my journey from a childhood influenced by my father, who was a CPA to becoming a successful business owner and financial educator. I share invaluable insights on how entrepreneurs can better manage their finances, the importance of tax planning, and the common mistakes to avoid.
We also touch on the importance of mindset in financial success and the necessity of diversifying both revenue streams and investments. This episode is packed with practical advice for entrepreneurs at any stage of their financial journey. Tune in to learn how to scale your business, save money in taxes, and create a sustainable and profitable venture.
What You'll hear in this episode:
[04:25] Shannon's Journey into Accounting
[08:10] Lessons from Shannon's Father
[12:35] Building a Business and Finding Fulfillment
[21:40] The Turning Point: Leaving the Corporate Job
[26:45] Working with Entrepreneurs and Business Owners
[28:45] Financial Advice for New Business Owners
[33:40] Misconceptions About Business Write-Offs
[37:05] Understanding Business Revenue and Profit
[41:35] Tax Planning and Financial Strategies
[45:55] Rapid Fire Questions and Personal Insights
If you like this episode, check out:
How Katie Savarise Built a Culture, Not Just a Brand
Hiring the Right Pro (Interview on She Leads First Podcast)
One
Why and How to Embrace More Failure in Business with Lynn Smith
Check out the Digital Business Evolution Podcast https://podcasts.apple.com/us/podcast/digital-business-evolution/id1612170868
Connect with Jess DeRose on IG @iamjessicaderose
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
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We all struggle with, and often avoid the topic of losing clients, but the truth is, it happens to everyone. I reflect on why we lost a key client, the mistakes I made, and how confidence without competence can be damaging in business. Discover the importance of self-awareness, honesty with clients, and collaborative communication. I'll share how these lessons have shaped the way I approach client relationships now and how you can apply them in your business to ensure you serve your clients as the expert they deserve. Tune in to gain insights that could transform your client management strategies and improve your overall business approach. What You'll hear in this episode: [0:50] Facing Client Losses: A Personal Story [2:30] Lessons Learned from Client Breakups [6:15] Balancing Confidence and Competence [10:20] Improving Client Communication If you like this episode, check out: Unlocking Business Success: Mastering the Art of the Accountable Plan How to Build Trust with Your Customers Creating an Outstanding Customer Service Experience Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
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In this episode, we dive into the power of good data in business decision-making. You’ll learn how better data can validate your intuition, remove emotional biases, and help you make strategic decisions that drive growth and profitability. Discover the importance of focusing on key performance indicators without getting lost in the minutiae.
I’ll share my personal experiences with data-driven decisions, especially in managing team dynamics, and why having quick access to reliable data is crucial. Whether you’re an entrepreneur tracking financials or looking to raise your decision-making game, this episode is packed with actionable insights to help you succeed.
What You'll hear in this episode:
[00:50] The Power of Data in Business Decisions
[01:55] Emotional Decision-Making in Business
[02:55] Effective Data Tracking and Utilization
[04:05] Implementing Data-Driven Strategies
[07:15] The Importance of Timely Financial Data
[09:40] Access and Control of Financial Records
[10:40] Year-End Accounting Insights
If you like this episode, check out:
I Don’t Do My Own Books as a CPA - Here’s Why
End-of-Year Financial Prep: Three Essential Steps for Business Owners
Minimizing Tax Season Anxiety with Three Simple Steps
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
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In this episode, I share my passion for understanding my clients' goals beyond just the numbers. Inspired by a podcast from Mike King, I dive into the five drivers of behavior: goals, dreams, aspirations, fears, and uncertainties. Join me as I explain how these drivers influence business decisions and why it's essential for financial advisors to acknowledge them fully. Discover how you can enhance your relationship with financial advisors by openly discussing your personal and professional aspirations. This episode aims to inspire and equip you to take actionable steps towards achieving your business and personal goals. What You'll hear in this episode: [00:50] Understanding Client Goals [02:00] The Five Drivers of Behavior [05:10] Addressing Fears and Uncertainties [07:20] Tailoring Services to Client Needs If you like this episode, check out: Who Do I Ask? Don't Make This Huge Mistake with Goal Setting How to Recognize Financial Fear and Defeat It with Justin Buonomo Check out The CFO Accelerator: https://www.thecfoaccelerator.com/ Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Let's address a common pitfall many entrepreneurs face—sunk cost bias. I discuss how this bias can lead you to continue investing time, money, and energy into projects or paths that are no longer beneficial, simply because you've already invested so much in them. I'll explain how you can identify this bias, why it's important to recognize the costs of inaction and opportunity costs, and how to give yourself permission to pivot and take new opportunities.
This episode aims to help you make more informed decisions, avoid driving your business into the ground, and learn when to change course. Tune in for insights that could save you time, money, and stress.
What You'll hear in this episode:
[0:50] The Sunk Cost Bias Explained
[1:55] Recognizing and Overcoming Sunk Costs
[3:10] Opportunity Costs and Business Decisions
[5:15] Adapting and Having a Plan B
If you like this episode, check out:
Start with This Financial Metric (Financial Priority Formula Part 1)
Where Are the Best Places to Look to Find Cost Savings?
4 Brutally Honest Facts About Why Your Business Is Losing Money
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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In this episode, I dive into the topic of industry niches, sharing why I chose not to limit myself to a specific industry and how focusing on core values instead has driven the growth and success of my business. Learn about the importance of identifying who you want to serve, not just by their industry, but by their attitudes, behaviors, and alignment with your core values. Discover practical tips on how to apply this approach to scale your own business, save on taxes, and create lasting wealth. Plus, find out more about our power sessions designed for businesses at various stages of growth. Get ready for an insightful conversation that challenges conventional niche advice and offers a fresh perspective on achieving business success. What You'll hear in this episode: [0:50] The Myth of Industry Niches [2:25] Defining the Ideal Client [5:05] Core Values and Client Relationships [9:10] Diverse Client Portfolio [11:55] Power Sessions for Smaller Businesses If you like this episode, check out: How Can You Shake Off Business Boredom and Thrive? Never Let Your Scarcity Show Creating Clients for Life with Racheal Cook Want to learn more so you can earn more? Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
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Today, I am re-sharing an episode from when I was the guest on the 'She Believed She Could' podcast. I had the pleasure of being interviewed by the host, Allison Walsh. I share my journey into accounting, which began on a dare from my father. Little did I know that demystifying financial management for small business owners would become my passion.
We discuss the importance of proactive financial planning, the benefits of having a fractional CFO, and my podcast. I emphasize the need for ongoing financial oversight and I offer practical advice for entrepreneurs at any stage. Join us for a fun and insightful conversation packed with valuable tips on scaling your business, tax strategies, and keeping more of what you earn.
What You'll hear in this episode:
[01:55] Shannon's Journey into Accounting
[04:40] Essential Financial Advice for Entrepreneurs
[07:40] Proactive Financial Planning
[10:50] Working with Shannon and Her Services
[12:35] The Keep What You Earn Podcast
[14:30] Confidence and Core Values
If you like this episode, check out:
Don’t Stop Playing the Long Game
Using a Simple Approach to Building Wealth with Tess Waresmith
The Little Things That Unlocked Growth in My Business and Life
Check out the " She Believed She Could" Podcast: https://podcasts.apple.com/us/podcast/she-believed-she-could-podcast/id1505347834
Want to learn more so you can earn more?
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
- Visa fler
