Keep What You Earn

Today, I am not giving any legal advice, but I do want to look out for you when it comes to the terms in your contracts that directly impact your money. Today I cover three of the key areas of a contract you want to make sure are iron clad before you sign your next customer or engage someone in your business. What you'll hear in this episode: [2:02] How to make sure your refund and cancellation policy is clear. [5:34] What are the financial implications in regards to your refund and cancellation policy? [7:35] Does your contract specify how confidential information and intellectual property is handled? [10:02] Details on including payment and collection terms in your contract. If you like this episode, check out: How to Generate Cash Without Increasing Price Tips for Negotiating Business Deals Which Financial Professionals Do You Need in Your Business? Want to learn more so you can earn more? Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa 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.

Operating a product-based business involves unique challenges compared to a service-oriented business. There are often more intricate processes at play, encompassing not only the procurement of products for your business but also their subsequent sale to consumers. Each of these stages frequently incurs additional expenses, and the financial landscape can become somewhat intricate if not meticulously monitored and managed. In this discussion, I will delve into essential financial metrics that I believe product-centric businesses should monitor diligently to ensure sustained profitability. What you'll hear in this episode: [0:50] Understanding Why Starting Product-Based Businesses Can Be More Challenging Than Service-Based Ones. [2:05] Analyzing Financial Disparities Between Product and Service-Oriented Businesses. [2:48] The Top Metric for Tracking Your Progress: Unveiling the Crucial Role of Gross Margin. [5:10] Evaluating Your Path with the Second Key Metric: Analyzing Time-Based SKU Trends. [9:40] Assessing Success with Metric #3: Delving into Inventory Turnover. If you like this episode, check out: The Benefits of Continuity Planning Maximize Your Income with the Help of a CFO Building a Strong Company Culture with Caroline Pennington Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry 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.

Jasmine is the epitome of authenticity, sharing her truth through all stages and seasons of growing her businesses and dealing with the challenges they present. Although successful in her own right, Jasmine has endured countless challenges but remained resilient and, in this episode, teaches how she finds the answers she needs to grow forward. After getting her start in the entrepreneurial world as an internationally recognized wedding photographer, Jasmine became a speaker and business strategist for creative entrepreneurs — and spent almost a decade helping business owners across the world take risks and live their lives to the fullest. She then went on to found tech company Social Curator: a monthly subscription that serves as a digital marketing agency in your pocket, complete with an A.I. social media manager providing customized marketing content. As a top podcast host and keynote speaker, Jasmine's goal is simple: to empower you to change the way you approach your professional and personal ambitions. Her approach is rooted in the desire to help you build the future you want and help you see your own potential — regardless of whatever stands in your way. Website: JasmineStar.com What you'll hear in this episode: [6:34] Jasmine talks about her money story. [10:51] Jasmine dives into how she is helping shape her child's money story and how her child sees money as a tool. [14:09] I talk about how my dad taught me about finances and money as a child. [19:09] Jasmine talks about how she looks at her numbers and how it has changed as a business owner. [37:00] Jasmine shares about her recent retreat and resetting. [46:46] How hiring a great team and delegating can help lead to allowing you to have time away from the business. If you like this episode, check out: From Time Management to Time Mastery with Laura Vanderkam A Hospice Care Doctor's Advice on Building a Wealthy Life with Jordan Grumet My Advice for High School and College Grads 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.

Does your business bore you? At times, maybe you feel like you are back to working a job and dreading the Mondays. I hear even the most successful entrepreneurs express boredom and disdain for their incredibly successful businesses all the time because they are simply bored. Today, I share my perspective on business boredom and how to minimize distractions. What you'll hear in this episode: [1:51] Why is your business boring you? [4:20] Dive into some options you have if you do become bored with your business. [7:10] The thing that makes you money doesn't have to be the thing that makes you happy. If you like this episode, check out: Want to Leave Your Corporate Job? It's Easier Than You Think Building Authentic Relationships in Business with Barb Betts Why I Give Away My SOPs Want to learn more so you can earn more? Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash 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.

Have you heard that you're not charging enough?...Who hasn't?!? We are constantly encouraged, sometimes pressured, into raising our prices in order to grow our revenue. While that may seem to be the obvious driver, it's not always the answer. There is more to it than that and in this episode, I cover the ways to recalibrate your revenue in a more sustainable way. What you'll hear in this episode: [0:13] I am not able to support my profit levels. What should I do? [2:11] Increasing confidence in your prices. [4:21] What are some things you can do other than increasing your prices to increase your profit? If you like this episode, check out: How to Maximize the Return on an Unpaid Opportunity Building Authentic Relationships in Business with Barb Betts Building a Marketing Plan You'll Actually Stick To with Lauren Tilden 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. Tactical Resources: 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator Additional Resources: Find everything you need at https://www.keepwhatyouearn.com Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa Hire us: https://www.fitnancialsolutions.com/accounting Find me on IG https://www.instagram.com/shannonkweinstein/ Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ 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.

Change drives growth, but at the cost of comfort. Today, we dive into the ways to foster positive change in our business, company culture and life with change management expert Will Hill. Will works a lot with professional service companies like accounting firms, but the principle of change management and change communication are universally applicable and often overlooked in business. Will is the founder and owner of Will Hill Consults, LLC; a coaching and consulting firm serving the tax and accounting profession. He spends the majority of his time with firm leaders working at the intersection of people and process. Through his 22+ years in the profession Will has taught countless classes on firm management, change management, and advisory services. His consulting and training travels have taken him to over 400 firm offices to work directly with firm owners and their team members. Known for his combination of creativity and practicality, Will brings his passion to each article, webinar, podcast or coaching engagement he embarks upon. In 2021 Will was named by Accounting Today in their "Top 100 Most Influential People in Accounting" list. Will has also twice been recognized by the CPA Practice Advisor in the "Under 40" lists (sadly, no longer eligible for any 'Under 40' awards). Connect with Guest: Website: www.willhillconsults.com LinkedIn: https://www.linkedin.com/in/wghill/ What you'll hear in this episode: [3:34] What is change management? [9:08] How knowing your current state will help get you to the future state of where you want to be? [10:55] What are some ways to drive the best results? [16:23] Why it is important to look at what problems do you want to solve. [22:39] Managing perceptions of different priorities in your team. [27:20] Best ways to communicate change and bring your team on board with the change. If you like this episode, check out: Creating a Conscious Public Relations Strategy with Melissa Vela-Williamson Building a Business Around Your Life's Mission with Andrew Anderson The Two Best Ways to Gain Clarity on Your Next Steps 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.

I hold the belief that every business owner should construct their business with the perspective that it may eventually be sold. This perspective isn't rooted in the assumption that everyone necessarily aspires to sell their business. Rather, I firmly contend that adopting this mindset empowers you to establish enduring processes and systems, capable of enduring the test of time, regardless of your presence. Ultimately, none of us can foresee the future, and in the event of unforeseen circumstances affecting you or a pivotal figure within your business, would your business continue to thrive? Erecting systems and procedures that facilitate the ongoing operation of your business not only augments its long-term vitality but also opens the door to the possibility of making it marketable, thus benefiting other businesses. What you'll hear in this episode: [1:17] Discover the rationale behind developing your business with sellability in mind, regardless of your intent to sell it. [2:45] Explore essential facets of a marketable business. [4:08] Gain insight into my long-term vision for Fitnancial Solutions. [6:23] Learn strategies for divesting portions of your business while retaining control of your core operations. If you like this episode, check out: Why 100% Employee Retention Should Not Be Your Goal with Jason Weinstein Tips for Negotiating Business Deals Questions to Ask Yourself as a CEO Want to learn more so you can earn more? Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa 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.

I always love chatting with fellow fractional CFOs and today is no exception. I am joined by Staci Millard, a CFO from Canada who is a fellow entrepreneur and has already exited her business. We discuss common trends we see with business owners and how to avoid major missteps in your path to scaling. Staci Millard is a mom of 2 and multi-passionate entrepreneur. She grew and sold her first seven figure business business before she was 35 while raising her daughters. She prides herself not only on her own experience growing a business but also the thousands of small businesses she's helped over the past 15 years. She believes in three non-negotiables for every successful business- making money, heart-led impact on those we serve, and having a great life because of our businesses not in spite of it. Staci now works as a fractional CFO and business mentor for entrepreneurs helping them scale and have the success she knows we can all achieve. Connect with Guest: Website: stacimillard.com Instagram: https://www.instagram.com/staci.millard/ What you'll hear in this episode: [3:23] Staci talks about her background and the types of clients she serves. [7:16] What are some of the biggest misconceptions about what fractional CFOs do or don't do? [10:34] Staci discusses challenges she has helped business owners overcome. [14:10] How to decide if an investment in yourself or your business is worth the expense? [17:49] How a fractional CFO keeps your money focused on your business goals. [30:16] Staci shares client successes. If you like this episode, check out: Questions to Ask Yourself as a CEO Why You Want to Build a Sellable Business Get Back In The Driver's Seat Of Your Business Finances Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry 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.

It may be hard to believe, but your accountant is human too. They may make mistakes or miscommunicate with you and it can lead to a significant financial impact. Today, I share the ways to make sure your accountant is living up to their promises and how to communicate effectively with them to ensure success for everyone. What you'll hear in this episode: [0:35] If you are feeling uncomfortable with the services you are currently getting from your accountant, what should you do first? [3:06] I discuss how to evaluate your accountant without undermining them. [4:44] Your accountant made an error. What should you do? If you like this episode, check out: Differentiating Between Margin and Markup You Accomplished Your Goal. What's Next? What Your Numbers Are Trying to Tell You 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.

Ahh, the timeless dilemma: the choice between hiring employees or contractors for your business. In this engaging podcast episode, our expert delves deep into the factors that influence this decision. With a wealth of practical insights, you'll gain a clear understanding of the tax implications, levels of control, cultural considerations, and growth strategies associated with both options. What you'll hear in this episode: [1:27] What is the difference between a contractor and an employee? [3:44] Review of tax implication and legal consequences of each option. [6:19] 2 reasons I am shifting from contractors to employees. https://howtohiretoptalent.com/ If you like this episode, check out: Hiring Employees vs. Contractors with Jackie Koch How to Manage Remote Teams Financial Metrics to Know for Service Based Businesses Want to learn more so you can earn more? Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash 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.