Keep What You Earn

In today's episode, we dive into a hot topic that frustrates many business owners: payment processing fees. Whether you use Stripe, Square, PayPal, or another service, those pesky 3% charges can feel like a thorn in your side. But what if we told you there's a smarter way to look at it? We'll explore why these fees are actually an investment in your business, how embracing them can boost your sales, and why shifting your mindset can make all the difference. Stick around as we unpack practical strategies and insights to help you minimize these fees and maximize your profits. What you'll hear in this episode: 05:27 Encouraging credit card use for online businesses. 07:27 Payment processing fees are part of business costs. If you like this episode, check out: Do I Sell More or Spend Less? Is Productivity the Same as Profitability? Building a Business with Exit Strategy in Mind Want to learn more so you can earn more? CFO On Demand click here 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.

In today's continuation of our conversation with Christine Nicholson, our multi-award-winning expert in exit and succession planning, we delve deeper into the transformative process of replacing yourself in your business. Christine and I break down the statistics on why many businesses fail to sell and explore the strategic steps you can take to build a more valuable and sellable enterprise. We examine the power of standard operating procedures (SOPs), guiding principles, and the importance of onboarding and training your team correctly. Christine shares practical tips on getting started with your exit planning with just 15 to 30 minutes a day, and we discuss the delicate balance of maintaining control while empowering your team. If you're an entrepreneur looking to future-proof your business, this episode is packed with actionable advice you won't want to miss. Christine Nicholson is multi-award winning and seasoned expert on exit and succession planning in owner managed businesses including employee ownership, exit options and getting out of your own way. She's the author of 4 books that give practical advice on running better businesses. she's lived and worked in 10 countries and exited dozens of businesses generating hundreds of millions of value Get your copy of "Sell it!" here: https://christinenicholson.co.uk/books/ Website: www.christinenicholson.co.uk LinkedIn: https://www.linkedin.com/in/christine-nicholson/ Facebook: https://www.facebook.com/christine.nicholson.146/ What you'll hear in this episode: 05:31 Documenting processes on a plane without internet. 08:24 Following process enhances rather than restricts creativity. 10:18 Create recipes, leave room for customization. 13:26 Checklist system improves medical procedures and collaboration. 17:24 Invest in training to retain talent effectively. If you like this episode, check out: Strategies for Managing Remote Teams Who Do I Ask? Mastering Recruitment: Marketing Strategies with Shannon Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here 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.

Today, Shannon is joined by guest Christine Nicholson, an expert in exit and succession planning. Together, they discuss the essential transition from running day-to-day tasks to fully embracing the owner role in your business. Listen in as Shannon shares her journey from employee to fractional CFO, and Christine explains the importance of self-awareness, documenting goals, and delegating tasks to increase business value. Learn why giving up control can lead to greater freedom and growth, and hear real-life success stories of business owners who thrived by letting go. Christine also offers valuable advice for early-stage entrepreneurs to protect and enhance their business, even in unforeseen circumstances. Christine Nicholson is multi-award winning and seasoned expert on exit and succession planning in owner managed businesses including employee ownership, exit options and getting out of your own way. She's the author of 4 books that give practical advice on running better businesses. she's lived and worked in 10 countries and exited dozens of businesses generating hundreds of millions of value Get your copy of "Sell it!" here: https://christinenicholson.co.uk/books/ Website: www.christinenicholson.co.uk LinkedIn: https://www.linkedin.com/in/christine-nicholson/ Facebook: https://www.facebook.com/christine.nicholson.146/ What you'll hear in this episode: 04:09 Perceived control impacts business value and worth. 09:16 Business owners must document and share goals. 11:50 Business ownership brings freedom and joy. 13:48 Clear job roles lead to joyful work. 17:55 Fear of success leading to interference in business. 23:02 Plan for unexpected events to protect business. 24:30 Create a will, plan for business continuity. 31:18 Clients must consider business value from buyer's perspective. If you like this episode, check out: Strategies for Managing Remote Teams Who Do I Ask? Mastering Recruitment: Marketing Strategies with Shannon Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here 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.

In this episode, Shannon dives into the intricacies and potential pitfalls of forming a multi-owner business. Drawing from her experience in assisting clients through partnership buyouts and business breakups, Shannon shares invaluable advice on what to consider before committing to a multi-member LLC or partnership. She stresses the importance of having a "prenup" or partnership agreement in place and explores alternative structures for those looking to start a business collaboratively. Shannon's insights aim to help entrepreneurs make informed decisions to safeguard their business relationships and ensure smoother operations. What you'll hear in this episode: 05:19 Detailed and humorous roommate agreement with strict rules. 06:30 Importance of autonomy in living and business. 12:04 Independence in relationships, shared skills, business. 13:15 Fitness and nutrition professionals can form partnerships. If you like this episode, check out: Moving to a Tax-Free State - Worth it? A Shortcut to Business Travel Deductions What They Never Tell You About Depreciation Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh 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.

In today's episode, we're diving deep into the framework for creating the perfect offer for your business. We'll cover everything you need to know about understanding and optimizing your profit margins without getting bogged down by complicated equations. From assessing the effort it takes to sell and fulfill your services to identifying scalable offers, we'll guide you through plotting your offerings on a simple yet effective grid. By the end of this episode, you'll know how to pinpoint and eliminate cash guzzlers and focus on high-margin, scalable opportunities that can exponentially grow your business. What you'll hear in this episode: 05:08 Avoid high effort, low price cash guzzlers. 07:08 Maintain balance in high-effort sales offers. 11:03 Evaluate financials monthly, align time and energy. If you like this episode, check out: This Could Be the Most Expensive Sales Mistake You Make Stop Doing This to Your Customers How to Keep High Margins as a Franchisee Want to learn more so you can earn more? CFO On Demand click here 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.

In today's episode, we're thrilled to feature a dynamic conversation between our host, Shannon, and Mel Abraham, author of "How to Build Your Money Machine." Join us as Mel emphasizes the importance of optimizing cash flows, earnings, and value to create a robust "money machine." We'll explore the crucial communication gap between business owners and financial professionals, and how simplifying financial language can make education relatable and actionable. Shannon breaks down the concept of a fractional CFO, offering high-level financial expertise without the full-time price tag. Together, Shannon and Mel stress the need for forward-thinking financial strategies that anticipate future outcomes and help business owners make data-driven decisions. We'll discuss how connecting financial data to personal goals can drive solid money decisions and how professionals can act as navigators, guiding you towards financial success. Mel Abraham is a dynamic individual transitioning from the confines of a traditional corporate environment to a more impactful role in financial consulting. Initially entrenched in a "stuffy corporate" setting, similar to many of his peers, Mel recognized a deeper calling that urged him to explore beyond conventional boundaries. Embracing the role of a fractional CFO, he now leverages his experience to guide others on their financial journeys. Mel's story is one of recognizing the limitations of the familiar and bravely stepping into a path filled with greater purpose and potential. Get Mel Abraham's "Building Your Money Machine" here: www.yourmoneymachinebook.com What you'll hear in this episode: 04:12 Helping business owners understand their numbers is crucial. 08:28 Track business data for growth and pivots. 12:03 Pattern recognition crucial for achieving financial goals. 14:22 Importance of advisors in guiding future decisions. 17:25 Communication stalemate between business owner and accountant. 20:37 Simplify education to relate to real life. 25:34 Minimize risk and ensure predictable cash flow. If you like this episode, check out: Do I Sell More or Spend Less? How Do I Avoid Payment Processing Fees? Is Productivity the Same as Profitability? Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. 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.

Today, we have part two with Racheal Cook, founder of CEO Collective and host of "Promote Yourself to CEO." We're diving into client lifetime value and marketing strategies to turn clients into lifelong supporters. Racheal discusses targeting clients with varying awareness levels, offering boutique-style services, and creating a focused client experience. We'll share our personal stories of transforming our business models by honing in on ideal clients, and Racheal introduces an exercise to identify these valuable clients for effective marketing. As an award-winning business strategist, Host of the Promote Yourself to CEO podcast, and Founder of The CEO Collective, Racheal Cook is on a mission to end entrepreneurial poverty for women. Over the last 15 years, she has helped thousands of women entrepreneurs design profitable businesses without hustle and burnout. A sought after speaker on entrepreneurship, marketing, and productivity, Racheal has been featured by the US Chamber of Commerce, Forbes, Inc, Fast Company, and Female Entrepreneur Association. 90 Day CEO Sustainable Success Series: https://go.theceocollective.com/90-day-ceo-success-path Facebook: https://www.facebook.com/racheal.cook/ Instagram: https://www.instagram.com/racheal.cook/ TikTok: https://www.tiktok.com/@rachealcookmba Website: https://theceocollective.com/ What you'll hear in this episode: 06:25 Emphasizing solving specific problems for clients effectively. 09:48 Deep client relationships, customized service, limited count. 13:03 Upgrade to attract and respect ideal clients. 16:01 Shifted focus to small business owners' success. 18:38 Differentiate business to avoid being a commodity. 20:14 Understanding people's hopes, fears, and desires. 23:46 Attention to client needs crucial for marketing. If you like this episode, check out: This Could Be the Most Expensive Sales Mistake You Make Stop Doing This to Your Customers How to Keep High Margins as a Franchisee Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. 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.

Today, Shannon Weinstein sits down with Racheal Cook, an award-winning business strategist and the founder of the CEO Collective, to discuss a revolutionary approach to business growth that minimizes burnout and maximizes client attraction. Racheal shares her insights on sustainable success without sacrificing personal well-being, delving into how entrepreneurs can redefine their definition of success and structure their businesses accordingly. Listen in as they tackle the pitfalls of current marketing strategies, the importance of a solid vision, and the power of effective attract marketing. Whether you're a seasoned entrepreneur or just starting out, this episode is packed with actionable advice to help you scale your business while preserving your quality of life. As an award-winning business strategist, Host of the Promote Yourself to CEO podcast, and Founder of The CEO Collective, Racheal Cook is on a mission to end entrepreneurial poverty for women. Over the last 15 years, she has helped thousands of women entrepreneurs design profitable businesses without hustle and burnout. A sought after speaker on entrepreneurship, marketing, and productivity, Racheal has been featured by the US Chamber of Commerce, Forbes, Inc, Fast Company, and Female Entrepreneur Association. 90 Day CEO Sustainable Success Series: https://go.theceocollective.com/90-day-ceo-success-path Facebook: https://www.facebook.com/racheal.cook/ Instagram: https://www.instagram.com/racheal.cook/ TikTok: https://www.tiktok.com/@rachealcookmba Website: https://theceocollective.com/ What you'll hear in this episode: 03:22 Define success beyond just revenue, prioritize life. 09:37 Intentional setup key for sustainable business growth. 11:39 Marketers oversell tactics, neglecting overall strategy. 15:44 Authenticity and joy in creating content. 19:31 Show up where they're already interested. If you like this episode, check out: This Could Be the Most Expensive Sales Mistake You Make Stop Doing This to Your Customers How to Keep High Margins as a Franchisee Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. 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.

In today's episode, we'll delve into a critical milestone for businesses—knowing when it's time to bring a Chief Financial Officer (CFO) on board. You might think a CFO is only needed for large corporations or major financial moves, but that couldn't be further from the truth. We'll explore how a CFO can transform your day-to-day operations, align your business with your personal goals, and act as a trusted navigator on your financial journey. Plus, we'll discuss the importance of keeping control while accepting expert guidance. Whether you're eyeing big, audacious goals or just want to make sense of your financial data, this episode is for you. What you'll hear in this episode: 04:10 Support clients, celebrate milestones, embrace entrepreneur's support. 07:14 Gusto simplifies HR processes and offers bonus. If you like this episode, check out: Should You Try to Scale Everything? What Should You Know About Tax Estimates? How Do You Build a Business with an Exit Strategy in Mind? Want to learn more so you can earn more? Join Gusto today and get a $100 Visa Gift Card 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.

Today's episode is packed with personal stories, from my humble beginnings at Elon University in North Carolina to navigating the high-stakes world of accounting internships and interviews. You'll learn how networking, strategic thinking, and a little bit of hustle helped me secure a coveted position at EY in Boston. If you've ever wondered what it takes to break into a competitive industry or how to turn setbacks into opportunities, this episode is for you. So, get ready to glean some inside tips on career growth and hear how small details can make a big impact on your professional journey. What you'll hear in this episode: 05:00 Volunteered for AKSCI. Found job contact. 06:49 Networking and perseverance led to my first job. 13:18 Work experience and passing exams required for license. 16:24 Early career challenges led to major success. If you like this episode, check out: My Biggest Takeaway from "10x is Easier Than 2x" The Little Things That Unlocked Growth in My Business and Life Creating an Outstanding Customer Service Experience Want to learn more so you can earn more? CFO On Demand click here 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