Keep What You Earn

I believed my marketing strategy was flawless for a long time, but I was mistaken. I had been approaching it slightly incorrectly all along. Countless entrepreneurs fail to reach their maximum potential due to their difficulty in communicating the problems they solve. I'll be sharing the valuable insights I've gained regarding expressing your value in marketing. What you'll hear in this episode: [2:38] The problem you solve vs the problem you sell. [4:43] An example of what people are actually searching for in a CPA. [7:02] An example of what people are actually searching for in a nutrition service. [11:13] How to sell a problem that you truly solve. * Related episodes: Creating Community in Your Business with Teri Yu How to Handle a Negative Business Review Should I Offer a Money Back Guarantee? 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: Text POWER to 860-609-6374 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.

Following up on my previous episode about the unique challenges of product-based businesses, today I will be discussing service-based businesses. There are often many fewer moving parts in service-based businesses, but that does not mean that tracking your finances should be ignored. I often see service-based businesses overspending on labor, advertising, and customer acquisition because they do not have an understanding of what they should be tracking. I will be discussing the key components to track in your service-based business to make sure that your business is sustainable. What you'll hear in this episode: [0:50] The unique challenges that come with a service-based business. [1:30] The #1 thing to track in your service-based business: labor cost. [4:50] The #2 thing to track in your service-based business: customer acquisition cost. [9:18] The #3 thing to track in your service-based business: your time. [11:17] The #4 thing to track in your service-based business: churn. Sign Up for the Cash Flow Compass Newsletter: https://shorturl.at/hjQUY Related episodes: 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 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: Text POWER to 860-609-6374 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.

Are you constantly feeling overwhelmed by the never-ending tasks on your to-do list? Do you find yourself working non-stop without any time for yourself? You're not alone in this struggle. Many people, especially entrepreneurs, face the challenge of balancing their work and personal lives. However, there are simple steps you can take to address this issue. Joining me on the show today is Laura Vanderkam, an esteemed author known for her expertise in time management. With her extensive research and experience studying countless schedules, she has discovered several effective techniques that can help almost everyone regain control of their busy lives. If you're tired of constantly playing catch-up with your calendar, this episode is a must-listen. Laura will share valuable insights and strategies that can finally help you get ahead and find balance in your life. What you'll hear in this episode: [3:01] What made Laura so passionate about time management? [3:45] What is one of the most unexpected things Laura discovered through her work? [5:50] What are the characteristics of a resilient schedule? [10:45] How do you take control of your calendar? [15:00] Are multitasking and compressing time effective time management skills? [18:19] What is holding people back from unlocking the maximum potential of their time? [23:45] What are some ways that you can get clarity on your calendar? [25:55] What are Laura's other top tips for people who want to gain control of their time? [32:50] What are some staple elements that everyone should work into their week to feel most in control of their schedule? Connect with Laura: lauravanderkam.com Before Breakfast Podcast Best of Both Worlds Podcast Related episodes: A Hospice Care Doctor's Advice on Building a Wealthy Life with Jordan Grumet My Advice for High School and College Grads Building a Marketing Plan You'll Actually Stick To with Lauren Tilden 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: Text POWER to 860-609-6374 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.

Owning a product-based business has unique challenges when compared to a service-based business. There are often a lot more moving parts as you have to not only work to get the product to your business, but then you also work on the other end to sell it to a consumer. Each step often involves additional cost and finances can get a little convoluted if not properly tracked and managed. I am going to discuss some of the primary financial metrics that I think product-based businesses should be tracking to ensure adequate profitability. What you'll hear in this episode: [0:50] Why product-based businesses are often more difficult to start than service-based businesses? [2:05] Differences in financials between a product and service-based business. [2:48] The #1 metric to determine if you are on the right track: gross margin. [5:10] The #2 metric to determine if you are on the right track: analyzing trends of time for various SKUs. [9:40] The #3 metric to determine if you are on the right track: inventory turnover. Related episodes: 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 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: Text POWER to 860-609-6374 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.

Selling your business is an exciting time for most business owners. That said, often times business owners have never even considered that their business was sellable so when an offer comes through, they are completely unprepared and unsure how to proceed. I will be discussing the three main things that I think you should be aware of as a business owner when engaging in negotiations to sell your business. You don't want to be caught in a situation where the money is clouding your judgment. Use these tips to make sure that you are prepared. [0:50] Do you have an exit strategy for your business? [1:55] The #1 thing to be ready for when selling your business: terms of the agreement. [5:03] The #2 thing to be ready for when selling your business: depreciation recapture. [11:22] The #2 thing to be ready for when selling your business: understanding your basis. Related episodes: 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 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: Text POWER to 860-609-6374 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.

In my opinion, the marketing around coaching is getting a little extreme. I see coaches promoting their extraordinary results or their atypical and exceptional clients as though that's the expectation of what you can experience by working with them. Of course, this is solid marketing, but I think that as consumers and as business owners who are potential customers of these coaches, you have to be mindful of what this is doing. I'll discuss how important it is to understand that just because you hire a coach doesn't mean you are guaranteed to experience the results they are advertising. What you'll hear in this episode: [0:58] The marketing surrounding coaching is getting extreme. [2:18] The long game is success and consistency [4:32] The process of scaling up your business. [6:39] The problem with relying on coaching as a solution to money problems. [8:31] How to create mindfulness through simple questions. [12:38] How to consume information in an honest way. Related episodes: What is an Asset vs an Expense? Which Financial Professionals Do You Need in Your Business? How to Build a Solid Financial Foundation in Your Business 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: Text POWER to 860-609-6374 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.

As an accountant and someone who deals with business lingo all day every day, I often forget that a lot of the terminology that we use is not common knowledge to the general public. I have to remember this regularly when working with clients to ensure that they properly understand what I am stating. A common confusion when working with clients is the notion of markup vs margin. Though similar, these two terms have one distinct difference. Tune in to hear this broken down into simple terms that anyone can understand. What you'll hear in this episode: [0:58] Most of us accountants speak the language of business and often forget that clients do not inherently understand all of the words that we use. [2:15] Clearing up some of the confusion between margin and markup. [3:15] This example should help you break down and understand margin vs markup. [7:15] My recommendation on tracking markup vs margin. Related episodes: Get Back In The Driver's Seat Of Your Business Finances How to Generate Cash Without Increasing Price Tips for Negotiating Business Deals 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: Text POWER to 860-609-6374 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.

I have a very unique episode for you today that will hopefully help you take action in your life. I am joined by Jordan Grumet, hospice care doctor and host of the Earn and Invest Podcast. Throughout his years as a hospice care physician, Jordan has had many conversations with individuals whose lives are coming to an end. Through these conversations, he has been able to pinpoint what people value in life and what people tend to regret at the end of their lives. I really relate to Jordan's message through my dad's story and his story is part of the reason that I decided to leave a corporate career and spend part of the year in Costa Rica. Don't live a life that you'll regret. Take steps now to pursue your passion and make a financial plan that allows this. Tune in today to hear valuable insights from Jordan on life, personal finance, and pursuing your passions. What you'll hear in this episode: [2:55] Introduction to Jordan [4:34] What led Jordan to realize that his dream career was not actually what he was passionate about? [8:24] How Jordan began to find meaningful experiences working with hospice care patients. [10:20] What are some of the key lessons that Jordan learned about life from his hospice care patients? [21:10] What are some of the different structures and archetypes for building wealth? [36:50] What is Jordan's advice on maximizing your time to get the most out of every moment? Connect with Jordan: jordangrumet.com Earn and Invest Podcast Related episodes: Do You Take Time to Appreciate Success? with Amanda McKinney Synching Your Business with Your Cycle with Melissa Rodriguez Defining Your Vision for a Financially Free Life with Brian Luebben 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: Text POWER to 860-609-6374 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.

When someone asks us about our business goals, we generally tend to think about growth. No matter where we are in business, we almost always are looking forward to the next revenue target. That said, I think there are other goals that can be just as valuable to us, that are not revenue growth centered. I'll be sharing some of my non-revenue growth goals and some goals that I think you can target in your business this year. What you'll hear in this episode: [1:03] Are you setting 1-dimensional goals? [2:05] What are some alternative goals other than growth in your business? [4:46] Have you actually mastered your business? Connect with Elmwood Bookkeeping: elmwoodbookkeepers.com Related episodes: Get Back In The Driver's Seat Of Your Business Finances How to Generate Cash Without Increasing Price Tips for Negotiating Business Deals 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: Text POWER to 860-609-6374 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.

I know that I have a lot of listeners of this show who listen while their kids are in the car. So because of this, I wanted to take the opportunity to offer some advice to those graduating soon and entering the workforce. This advice is something that my dad taught me early in life and something that has helped me get where I am today. Taking advantage of the opportunities presented to you and making decisions based on what give you the most options will help you succeed in business and in life. Tune in to hear how I have applied this in my own life and how I think the younger generation can apply this and be successful. What you'll hear in this episode: [1:15] I want to dedicate an episode to sharing advice with new grads entering the workforce or higher education that I think will be helpful. [2:45] The best advice that I was taught by my dad for anyone embarking on a new chapter. [5:30] Become an expert in a specialty area that requires above-average knowledge compared to the average individual. [7:13] Key takeaways from my career working at a Big 4 accounting firm. [9:03] Capitalizing on all of the skills that I learned up to a point in my career [12:00] Capitalizing on your choices to give yourself the most opportunities in the future. * Related episodes: Do You Take Time to Appreciate Success? with Amanda McKinney Synching Your Business with Your Cycle with Melissa Rodriguez Defining Your Vision for a Financially Free Life with Brian Luebben * 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 * See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator * Find me on IG https://www.instagram.com/shannonkweinstein/ * Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ * Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html 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.