Keep What You Earn

I am thrilled to sit down with the dynamic entrepreneur and networking strategist, Chelsea Laub. Chelsea is the brain behind 'Mingle,' an innovative platform teaching individuals networking skills and personal branding. In this episode, we delve into the art and science of effective networking. How does one make meaningful, long-lasting connections? Are elevator pitches outdated? What is the role of emotional intelligence in networking? Chelsea shares her insights from her unique perspective, along with valuable lessons from her own networking journey. We will talk about everything from the networking technique of 'ten, three, one', to the importance of adding value and serving others through your networking efforts. Helping us optimize our networking strategies, we discuss the changing landscape of networking opportunities in a post-pandemic world, and why it's more important than ever to make the most out of every interaction. Chelsea Laub is a professional committed to effective networking. She observes that many in the sales industry, including financial advisors, attorneys, real estate agents and insurance professionals, attend networking events without clear intent, rendering these sessions fruitless. Chelsea emphasizes the importance of having an intentional mindset at networking events to yield measurable results. She notes that merely gathering business cards and adding contacts on LinkedIn without further interaction isn't adequate. Hence, Chelsea champions a strategic approach to networking to ensure both meaningful connections and visible outcomes. Connect with Chelsea Laub: @mingle.kc on IG @chelsealaub on IG www.chelsealaub.com/mingle What you'll hear in this episode: [00:50] Networking challenges and solutions for professionals and businesses. [11:42] Encouraging reciprocity in relationships leads to balance. [32:30] Strategically navigating post-COVID networking for successful connections. [33:26] Understanding industry ratios crucial for effective networking. If you like this episode, check out: Leveraging Collaborations for Business Growth How to Network if You Hate Networking Events How to Maximize the Return on an Unpaid Opportunity Want to learn more so you can earn more? Text me the word DAILY to get tips each weekday to get you into a CEO mindset! 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 a recent client session, I had an enlightening discussion that yielded insights applicable to many business owners. Delving into the intricacies of cash flow, we uncovered its pivotal significance for all enterprises, particularly startups, where it can be a determining factor in your success. Furthermore, we emphasized the critical distinction between client volume and individual client revenue. Join us as we take a comprehensive exploration of these pivotal topics and illustrate their importance with real-world examples drawn from the impactful client session. What you'll hear in this episode: [1:20] In this episode, we delve into the importance of tracking your income sources and expenditure, not just your outflows. [2:22] Primary insight #1 stemming from a recent session with a CFO client - the critical role of cash flow. [4:33] One common pitfall I often observe in cash flow planning among newer business proprietors. [5:40] Primary insight #2 extracted from a session with a CFO client - the juxtaposition of clients and revenue. [9:47] Scrutinize your revenue streams carefully and assess if any should be terminated to free up time for more profitable ventures. If you like this episode, check out: QuickBooks Tips to Keep You Out of Your Books and in Your Business with Crystalynn Shelton Financial Metrics to Know for Service Based Businesses Questions to Ask Yourself as a CEO Want to learn more so you can earn more? Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide 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.

Being an expert is one thing, but being able to effectively convey our ideas is another. Today on the show I welcome visual storyteller Phil Lashley to walk us through his FRAME method to help express your ideas in a way that evokes the right emotions and actions. Phil Lashley is a creative consultant and visual storyteller committed to using visuals to help communicators and innovative teams make their ideas come alive, be better understood and most importantly be remembered. Instagram:@philLashley YouTube:@philLashley LinkedIn:www.linkedin.com/in/phil-lashley-46648114 Website:phillashley.com How to use the F.R.A.M.E. method https://youtu.be/NQHLwmy3a4w To download FRAME pdf https://phillashley.myflodesk.com/b1ff5d0c-1137-45bc-9dba-f07b070e0d44 Client Case Study using F.R.A.M.E. method for Signature Frameworks https://youtu.be/k7bFEPUdj90 What you'll hear in this episode: [04:22] Eliminate boring PowerPoint presentations with visual storytelling. [8:28] Inaccessible jargon hinders effective communication for experts. [20:40] Importance of connection in expert communication. If you like this episode, check out: 3 Keys to a Successful Podcast How to Build a Winning Affiliate Program Leveraging Collaborations for Business Growth Want to learn more so you can earn more? CFO On Demand click here Visit https://keepwhatyouearn.com to dive deeper on our episodes Visit https://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're diving into a topic that many of us struggle with: confusing productivity with profitability. As former professionals, we were conditioned to believe that the more we worked, the more we were valued and respected. But in the world of entrepreneurship, simply doing more work doesn't necessarily equate to more money. In this episode, we'll explore the mindset shift needed to associate our value and pricing with results and outcomes. We'll also discuss the importance of prioritizing tasks that generate profit over those that keep us busy. Join me as we uncover the truth about productivity and profitability, and learn how to focus our energy on the right activities to drive real results for our businesses. What you'll hear in this episode: [02:08] Prioritize profit-generating tasks, avoid time-wasting work. [05:28] Focus on profitable projects for business success. [06:47] Prioritize profit drivers and delegate effectively. If you like this episode, check out: The Benefits of Creating a Sellable Business Ways to Increase Revenue If You Hate Sales Coaching Alone Can't Resolve Your Cash Flow Problem 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.

Are you facing challenges when it comes to the hunt for fresh customers? Numerous folks who are new to the world of business often find themselves grappling with this particular facet of entrepreneurship. But what if there existed alternative avenues for income generation that don't necessarily involve constantly acquiring new clients? That's precisely what we'll delve into in today's episode. I'll be sharing some insightful analogies to illustrate how you can leverage your current business position to generate extra revenue, both from your existing clientele and through strategic collaborations with other businesses. What you'll hear in this episode: [0:50] Exploring the reasons behind certain individuals' aversion to sales. [3:10] Unveiling the conventional revenue generation method that many people instinctively turn to. [4:19] Method 1: Have you considered revisiting, reinvigorating, or upselling your existing clients based on their current needs? [7:13] Collaborate with professionals who offer services both preceding and following your own, establishing mutually beneficial partnerships. [10:38] Maintain a heightened awareness of referral fees and the potential increase in your workload they may entail. If you like this episode, check out: The Benefits of Creating a Sellable Business Coaching Alone Can't Resolve Your Cash Flow Problem Differentiating Between Margin and Markup 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.

Today's conversation will focus on the importance of looking at your financial reports, such as the profit and loss (P&L) statement and income and expense reports, to gain meaningful insights into your business's performance. Sugey emphasizes the need to shift our perspective from simply looking at profit or loss to understanding how we can make informed decisions and take advantage of opportunities. Sugey believes that there is a disconnect between business owners and the understanding of their financial numbers. In this episode, she shares valuable tips on how to make your numbers more approachable and easy to read, making financial reports something to look forward to rather than avoid. Join us as we dive deep into the hidden power of your financial reports and gain the knowledge you need to keep what you earn. So grab your favorite beverage, find a cozy spot, and let's get started on this journey to financial empowerment! As an enrolled agent and 20+ year certified tax preparer, Sugey Piedra likes to make her clients' money work for them so that they don't have to work forever. In her daily work as co-founder of Prominence Business & Wealth Management, Sugey supports high-earning, service-based business owners achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning, and tax strategy under one roof. Together with her two sisters/co-founders, Sugey runs the business, and also hosts and produces Tax Talk with HeyHey Podcast, where they provide insights into business taxes, wealth building and what it means to really create financial freedom. Besides her own show, Sugey has also been featured on Sell Without Selling and Business Spotlight USA. When she's not helping service-based business owners to grow their income, Sugey enjoys traveling, horseback riding and working on her own growth mindset. Website: https://www.prominencebusiness.com/ LinkedIn: https://www.linkedin.com/in/sugey-piedra-ea-39aba911a/ Instagram: http://www.instagram.com/prominence.services Facebook: https://www.facebook.com/ProminenceBMgmt What you'll hear in this episode: [4:30] Is an EA a better choice for taxes than a CPA? [9:14] Shifting perspective: Can I afford this? Or, how much can this save me? What will this do for me? How will this get me closer to my goals? Many people stay in a one-dimensional realm, missing important nuances. Looking at your numbers is only the first step. Without a scale or context, they lack meaning. [21:08] What does your bank or lender look for first? Your tax returns and financial reports. How financially strong are you on paper? It's important to know before making big purchases like a building or office. Don't wait until it's too late. By reviewing and understanding these reports together, it strengthens your overall financial position. If you like this episode, check out: QuickBooks Tips to Keep You Out of Your Books and in Your Business with Crystalynn Shelton What Your Numbers Are Trying to Tell You Differentiating Between Margin and Markup Want to learn more so you can earn more? Business Financial Quickstarter: https://www.keepwhatyouearn.com/bfq 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.

Many entrepreneurs frequently employ their personal belongings for business purposes without fully capitalizing on the tax advantages that come with it. While many are aware of deductions like the home office and vehicle mileage, there exist numerous other tax-saving prospects for business owners operating as S corporations. The accountable plan serves as a valuable tool for S corporation proprietors to trim their tax bills, beyond the automatic savings from self-employment taxes inherent to the S corp structure. In this episode, we'll delve into what the accountable plan is, why it's crucial for your business, and the steps to ensure you have all the necessary paperwork in order. What you'll hear in this episode: [1:05] The accountable plan stuff: What's it all about, anyway? [2:30] So, what expenses can you get some money back for using this plan? [5:18] Wondering if there's a particular way to handle paying yourself back? [7:50] If you're already getting deductions on your regular tax return, why bother with an accountable plan? [11:45] Can you just do one big yearly reimbursement, or are there timing rules to follow? [12:40] What's on your checklist for getting this accountable plan set up right? If you like this episode, check out: Tax Deadlines You Need to Know as a Small Business Owner The Power of a Tax and Accounting Combo Team Key Financial Metrics for Success in Product-Based Businesses 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, Shannon Weinstein sits down with Hilary Hendershott, founder of Hendershott Wealth Management, to discuss simple ways to achieve wealth. Hilary specializes in empowering women to take control of their finances and grow their wealth. As a certified profit first professional and a fiduciary fee-only financial advisor, Hilary is committed to acting in her clients' best interest. With stories of personal financial challenges and experiences with financial abuse, Hilary shares how she overcame adversity and found success. Join Shannon and Hilary as they delve into topics such as investing, financial planning, business strategies, and the importance of financial education for women. Get ready to be inspired and empowered on this insightful episode of "Keep What You Earn"! Hilary Hendershott is the founder of Hendershott Wealth Management, a leading financial advisory and profit consulting firm for women and couples. Hilary's mission is to motivate women and their loved ones to be financially empowered, and to thrive. Her profit consulting programs have enabled business owners to finally take control of their money, learn healthy financial habits, and grow their individual wealth by millions of dollars. Hilary is the host of Love, your Money (formerly Profit Boss® Radio), a weekly financial podcast where she and her guests offer inspiration and actionable advice. She's also a TEDx speaker, and has been featured in the Wall Street Journal, NBC, ABC, FOX, DailyWorth, Forbes, and Investopedia. Hilary was recognized as a Top 40 Under 40 Entrepreneur in Silicon Valley and Investopedia named her one of the Top 100 Most Influential Advisors in the US for the past 6 years including 2023. Hilary has an MBA from Santa Clara University, and is a CERTIFIED FINANCIAL PLANNER™ professional. Instagram: https://www.instagram.com/hilary.hendershott/ Facebook: https://www.facebook.com/hilaryhendershott/ LinkedIn: https://www.linkedin.com/in/hilarythecfp Website: https://hendershottwealth.com What you'll hear in this episode: [03:11] Financial advisors should only be paid by clients, ensuring impartiality and prioritizing client interests. [07:20] Debt, foreclosure, and poor financial choices. [12:49] Meeting women where they're at financially. [16:28] Guide, assist, ask questions, achieve goals, retirement [22:14] Business owners sometimes forget to plan properly. Depending on the type of business, the exit strategy can vary. [28:24] Guilt about keeping money, considering other options. [35:50] Balance, risk, wealth: basics supported by intelligence. [38:58] Key to building sustainable wealth: focus, proven strategies, exit plan If you like this episode, check out: How to Pour Money Into Your Business How to Build a Sellable Business with Arthur Petropoulos Build Systems to Build Wealth with Justin Green Want to learn more so you can earn more? Text me the word DAILY to get tips each weekday to get you into a CEO mindset! 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're diving into the concept of Profit First and how it can transform the way you manage your business finances. We'll explore why budgets may not be the most effective approach and introduce you to the idea of crafting a profit plan. Get ready to learn how to prioritize your profit, set spending allocations, and connect your financial goals to tangible results. What you'll hear in this episode: [00:54] Prioritize profit over expenses, force budgeting. [03:34] Allocations and spending habits analyzed for targets. [08:50] Tough economic times require taking ownership. [09:58] Creating awareness, taking ownership, and budgeting effectively. If you like this episode, check out: The Benefits of Creating a Sellable Business Ways to Increase Revenue If You Hate Sales Coaching Alone Can't Resolve Your Cash Flow Problem Want to learn more so you can earn more? Text me the word DAILY to get tips each weekday to get you into a CEO mindset! 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're diving into a topic that is becoming increasingly relevant in the world of entrepreneurship: the tax impact of selling digital products. With the rise of online businesses and the ease of offering digital products like eBooks, courses, and resources, it's important to understand how these sales can affect your business and taxes. I will break down the nuances of sales tax and how it applies to digital products and discuss the outdated nature of the current tax system when it comes to digital products and how individual states are taking matters into their own hands. Join us as we explore the complexities of sales tax and learn how to navigate this ever-evolving landscape. What you'll hear in this episode: [1:36] Tax agencies struggle with understanding digital products. [5:34] Digital products may be taxable based on state regulations. [6:47] Sales tax: back taxes, collecting, and nexus. [11:14] Sales tracking plugin for Shopify, Amazon, website. Register in states, get exemption certificate. If you like this episode, check out: 3 Steps to Preventing Tax Season Stress Tax Deadlines You Need to Know as a Small Business Owner The Power of a Tax and Accounting Combo Team 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.