Keep What You Earn

Your mindset is incredibly important, especially when it comes to your mindset towards your business and life as an entrepreneur. Being able to shift your thinking to the appropriate mindset can help you not only endure the toughest hardships, but grow from them. Chris Felton joins me to unpack how to get your mindset right and explain some of the key points to his new book, "Think and Grow You". Chris Felton is a bestselling author and 7-figure entrepreneur. Over his 23-year career, Chris has led a team of over 175 agents and they have helped over 17,000 clients, and he's achieved Top 1% status in a company of 50,000+ agents. As a thought leader in the financial services industry, Chris' insights have been featured in major media outlets such as US News & World Report, Market Watch, Yahoo Finance, and Nasdaq to name a few. Chris is committed to sharing his story and lessons learned from being on the brink of financial ruin and divorce to building one of the most successful financial services firms in the country. While he's achieved a lot of business success, life is about more than money for Chris. With his latest book and speaking series "Think and Grow You", he focuses on helping driven entrepreneurs break through plateaus in their growth by learning how to get out of their own way and take their success, peace, and impact to the next level. Check out Chris' Links: His website: https://chrisfelton.me/ His book: https://chrisfelton.me/book/ * Related episodes: 205. Lessons From 120 Women Leaders with Julia Boorstin 218. How to Cultivate Confidence 223. How to Read Financial Reports as a New Business Owner * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

As a business owner, we're always chasing growth, we're always chasing that next thing, it feels like no matter what we do, we're always hungry for that next level. And that's not necessarily a bad thing, but sometimes we can feel like we're starting to plateau when it comes to our income; like we can't break free from a certain level and we're not sure how to unlock that next step. It can make you feel uncomfortable, stressed out, and worried about the future of your business. A lot of it is self-imposed but it's not your fault! We can be so focused on moving our business forward, that we're not looking around to our surroundings to realize what else is happening. Sometimes all it takes is a fresh perspective to really see what's going on in your business. If you can't quite figure out how to unlock that next level of revenue, I'm going to walk you through a few simple questions that can help give you a fresh perspective so you can unlock that for yourself. What you'll hear in this episode: [1:15] The questions you can ask yourself if you're experiencing limitations. [3:00] Are you limiting your own capacity by limiting your time? [5:20] Hiring someone to cover your blind spots. [7:30] Don't discount yourself when it comes to a high-touch high-value service where your time is insanely valuable. [9:45] Is your offer profitable? Considering all of the costs included in your offer [12:30] Spending with intention and awareness. [14:30] What can happen when you don't have set offers in place. [16:30] Don't confuse your customer base. [19:00] Are you missing out on upsell opportunities or extensions? * Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon * Related episodes: 218. How to Cultivate Confidence 223. How to Read Financial Reports as a New Business Owner 230. Achieving Excellence as a Coach with Chris Goodman * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

We're all absorbing so much information and advice every single day, from social media, our friends and family, our business colleagues, mentors, and so much more. We're being told constantly what we should be doing. Sometimes as business owners, that's really helpful, because it's in the name of service and the name of helping us. But sometimes it can be really overwhelming and really exhausting. It can cause us to lose or sense of direction and intuition. When it comes to scaling a business, there is nothing more important than following your intuition and understanding your core values, your brand, and your mission. That's what I've brought Hannah Wells on the show to share with us! Hannah is partner and COO of Powerhouse Women. She is a personal development junkie who's deeply passionate about showing women what's possible for their lives. She brings her obsession with mindset and her love for business strategy and operations to powerhouse women and the community of women that she serves. We're talking about how you can scale your business while drowning out the noise to get really clear on what your intuition is telling you! If you're an early stage entrepreneur, you're feeling a little burnt out, or just feeling like you need to relate to someone who's going through what you're going through, this episode is for you! What you'll hear in this episode: [2:50] Hannah's background in real estate. [7:15] The intention this year for Powerhouse. [12:30] What is scaling? How does it work? [18:00] How to get into the right mindset to scale your business. [22:30] Lowering the cost of acquisition with organic marketing. [25:45] How do you know what to delegate and what to keep? [30:30] Why you have to do things your way and tune out the noise. [37:20] Stop living a checklist life. * Follow Powerhouse Women on IG @powerhouse_women * Follow Hannah on IG @hannahmwells * Related episodes: 218. How to Cultivate Confidence 223. How to Read Financial Reports as a New Business Owner 230. Achieving Excellence as a Coach with Chris Goodman * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

I firmly believe that one of the key components to unlocking scalability in your business is having a recurring revenue model that allows your customers to make purchases from you time and time again. Relying solely on a product or service that generates a one-time sale per customer can quickly lead to burnout. The constant need to market and acquire new customers can be exhausting, making it challenging to grow your business effectively. We've talked about this before, but the topic of recurring versus reoccurring revenue has been a recent point of interest. In our upcoming discussion, we'll explore the differences between the two revenue models and how each can benefit your business. What you'll hear in this episode: [2:15] What recurring revenue is [4:15] What reoccurring revenue is [6:00] Both are useful and can be massive for your business but I'm seeing a problem in many businesses; maximizing the value of your customer [8:45] Turning a reoccurring purchase into a recurring one * Related episodes: 235. Copywriting Secrets to Convert with Jess Jordana Paxson 240. Facebook Ads Strategies that Work with Daria Kotenko 242. Turning Tweets to Customers with JK Molina * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

As entrepreneurs, we always get this advice that we need to know our numbers, right? I want to be clear, this advice isn't suggesting you memorize your exact numbers. Yes, we should know some of these things, especially in a product-based business, but I want to talk about the three different dimensions where you should be focusing your attention if you're looking to get to know your numbers a bit better and to start using them to your advantage. It's really not enough to just categorize your transactions in QuickBooks! A lot of folks assume that getting to know your numbers means getting QuickBooks, making sure you're going in, allocating your transactions every month, maybe you're reconciling your bank statement. Cool box checked, I'm done. Not quite, it doesn't really mean that you have any ownership or mastery of what those things are telling you. Tune in to learn more about the three dimensions and what they mean for your business! What you'll hear in this episode: [3:20] What is performance? [6:25] What is compliance? [8:05] How to drive results in these different areas. [10:10] Strategy: the needle mover. * Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon * Related episodes: 216. The Most Undervalued Trait of an Accountant 232. Growing Your Side Hustle with Nick Loper 239. How Do I Break Up With My Accountant? * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

Lindsay Dotzlaf, the founder of The Coach Lab and Coaching Masters, shares her journey from being a novice in life coaching to mastering coaching skills. With her background in psychology and ability to connect with people, she founded her own coaching business after being coached for a few years. Lindsay shares her insights on how to articulate the problem that coaches solve and how to meet clients where they are. She also discusses the difference between coaching and therapy and how to master coaching skills. To build a foundation, Lindsay suggests that coaches need to have empathy, active listening skills, and an ability to ask open-ended questions. She also emphasizes the importance of continuous learning and practicing to reach the level of mastery. Lindsay also shares her views on how coaching skills can be useful in different professions and what results people can expect from skill development. This episode is a MUST listen for coaches and any service provider who naturally acts as a support system for their clients' businesses! What you'll hear in this episode: [1:00] The importance of coaching as a business owner. [3:30] Who is Lindsey and how did she get into coaching? [7:05] Coaches struggle with articulating what problem they solve and speaking to clients based on where they are at. [9:35] How do you distinguish between coaching vs therapy. [13:48] What it means to be a master coach. [20:32] Lindsay's outlook on coaching as a service offering. Find Lindsay on IG @lindsaydotzlaf Visit her website: lindsaydotzlafcoaching.com Lindsay's podcast, Mastering Coaching Skills: https://podcasts.apple.com/us/podcast/mastering-coaching-skills/id1539802018 * Related episodes: 163. Your Dream Life is Closer Than You Think with Rob and Kim Murgatroyd 177. The Power of Financial Gratitude During Tough Times 200. Setting and Exercising Effective Boundaries with Woodrie Burich * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

We all know that making more money in business is really a function of two key variables, sales and costs. Most of the time, we're really focused on that first number, our sales. Not just calling in the right people getting your messaging right as we've talked about before, but also how to increase your revenue. If it feels like you're hustling so hard, trying to get new customers in the door and more people buying from you, just know it doesn't have to be this way! I'm diving into the three ways I know you can increase your sales, which ones I prefer, and which ones I think are most sustainable and lucrative for you to spend your time and energy trying to implement. What you'll hear in this episode: [1:45] Three key variables that drive sales. [3:35] Selling to more people and getting more people to buy requires an additional cost of acquisition and fulfillment. [5:45] How to develop a recurring or reoccurring revenue model. [7:30] How to increase your revenue. [9:33] You have to make sure that the market you're selling to can tolerate a higher price point before you raise prices. [11:20] How raising prices is the best way to increase revenue without increasing costs. * Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon * Related episodes: 235. Copywriting Secrets to Convert with Jess Jordana Paxson 240. Facebook Ads Strategies that Work with Daria Kotenko 242. Turning Tweets to Customers with JK Molina * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

What's the next level of freedom that you're hoping to unlock? Our individual definitions of freedom are subjective and constantly evolving. I'm thrilled for this conversation because we have the privilege of hearing from Mike Ayala about his journey, how he dared to challenge conventions, and unapologetically forged his path towards financial freedom. Mike's life experiences have led him to discover what he truly values: the freedom to prioritize his family, nurturing relationships, and the financial means to support that lifestyle. While many entrepreneurs might believe that this kind of freedom is unattainable, Mike and his wife Cara are living proof that with the right mindset and support, anyone can experience true freedom on their own terms. As a self-described serial entrepreneur, Mike has been involved in over 2000 projects worth over a billion dollars. Nowadays, he helps busy professionals and business owners to attain authentic freedom and live their best lives. Mike is a real estate investor, founder, venture capitalist, and, above all, a devoted father and husband. There's so much to be gained from his wealth of experience! What you'll hear in this episode: [1:00] Mike's background in life and in business [5:00] Why he started a business at age 24 [7:00] What led Mike to exit his business and move into his next season of business and investing [11:15] The importance of mentors in life and business [13:30] How he got into real estate investing [16:45] How you can cultivate mentorship relationships in your life [19:00] Mike's best advice for investing for freedom [23:00] What's next for Mike and Cara as they plan to exit their real estate investing era [28:30] How you can work with them [29:45] How you can unlock your next level of freedom * To get more information about Mike & Cara's offerings for couples, text the word COUPLE to (480) 531-7519 * Follow Mike on IG @themikeayala * Learn more about Velocity Venture Partners on their website: www.velocityventurepartners.com/ * Listen to Mike's podcast, Investing For Freedom: https://podcasts.apple.com/us/podcast/investing-for-freedom-with-mike-ayala/id1498786451 * Related episodes: 218. How to Cultivate Confidence 223. How to Read Financial Reports as a New Business Owner 230. Achieving Excellence as a Coach with Chris Goodman * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

Let's talk about relationships - business relationships, to be specific. As your business grows, you will inevitably need to bring in additional help, whether in the form of employees or contractors. Although it can be somewhat of a gray area, it's crucial to accurately categorize the individuals who work for you. While hiring contractors may offer more tax advantages, there has been a rise in the overuse of this classification, which has prompted the IRS to take a closer look. It may seem trivial, but the IRS wants to ensure that you are correctly classifying your workforce, and paying the appropriate taxes too! That's why it's essential to ensure that you are classifying your employees and contractors correctly, and documenting the reasoning behind your decisions. What you'll hear in this episode: [1:15] The difference between an employee and a contractor [3:15] Considering how the relationship looks to the IRS, with examples; do you truly have a contractor or are they an employee? [7:30] The different levels of control: relationship, financial, and behavioral [12:15] Examples from my business [15:30] What happens if you misclassify an employee or contractor and how you make it right * Related episodes: 237. Tax Tips for Short Term Rental Owners with Ryan Bakke 238. Why Your Tax Pro Says No to Creative Strategies 241. Five Key Financial Building Blocks for Your Business * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.

Nowadays, your office can be wherever your laptop is, but you may be unaware that having a home office can lead to tax savings. Let's explore how you can legitimately and legally claim the home office deduction without any disputes from the IRS. One of the requirements for claiming a home office deduction is that the space must be used exclusively for business purposes. This means it cannot be your couch, bed, or kitchen island. The IRS is very strict about this! Once you've determined you have a qualifying space, there are two major approaches to deducting a home office if you're a qualifying sole proprietor or owner of a single member LLC: using the simplified method or the actual cost method (spoiler alert, the actual cost method has the potential to save you more). Even if you're an employee of your S Corp or C Corp, you can take a home office deduction, the benefits are actually even greater this way! What you'll hear in this episode: [1:30] Qualifying your home office - what you can and cannot do [5:00] If you aren't a W2 employee in your business, use this method [7:00] The simplified method and the actual cost method [10:00] What to do when you're a W2 employee of your business - the accountable plan [13:00] Is the home office deduction a red flag for audit? [14:30] What if you moved during the year? * Related episodes: 237. Tax Tips for Short Term Rental Owners with Ryan Bakke 238. Why Your Tax Pro Says No to Creative Strategies 241. Five Key Financial Building Blocks for Your Business * Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so * 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 @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.