234. 3 Ways to Control Profit and STOP Confusing Your Finances - Spencer Sheinin

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Confused by your financials? You’re not alone. Most contractors struggle to make sense of their numbers, and it costs them big.

In this episode of Contractor Evolution, we sit down with Spencer Sheinin, bestselling author of Entreprenumbers and CEO of Shift Financial, who’s on a mission to empower contractors by turning complex financial data into simple, actionable insights.

Spencer used to be a contractor himself, so he gets the challenges you face. That’s why this conversation hits different. It’s not just about spreadsheets and profit margins, it’s about taking control of your business through real financial empowerment.

🔍 In this episode, we break down:

• How to make your numbers tell a story using visual tools
• How to spot red flags in your P&L before it’s too late
• What your bookkeeper should really be doing for you
• The three financial levers that drive profitability in contracting businesses

📘 Whether you’re a seasoned business owner or just getting serious about your growth, this episode will help you stop fearing your financials and start using them to win.

🔗 Check out Spencer’s book Entreprenumbers here: https://entreprenumbers.com/

👇 Drop a comment if you've ever felt overwhelmed by your P&L—and let us know your #1 takeaway from this episode!

00:00-Intro

01:55-About Spencer and Shift Financial

09:33-Define: Financial Empowerment

10:35-Three levers of profitability

14:32-How to determine which lever to pull (with visuals)

21:01-How to build your first proper budget

25:26-How to select your strategic financial team

38:24-Essential software and tools for financial management

40:25-How to maintain clean financial data

46:05-One thing listeners can go do right now to get comfortable with numbers

47:59-Free benchmarking tool