SNM272 Set Your Business up for Financial Success with Brent Allen

Welcome to the Serve No Master Podcast! This podcast is aimed at helping you find ways to create new revenue streams or make money online without dealing with an underpaid or underappreciated job. Our host is best-selling author, Jonathan Green.

Today's guest is Brent Allen comes from a family of accountants, with his grandfather and father both working in the field. Growing up, he developed a passion for numbers and the financial side of businesses. This led him to pursue an accounting degree and become a licensed CPA. Brent believes that finding a balance between focusing on the numbers and the overall operation of a business is crucial for success. Brent supports bootstrapping and believes that success can be achieved within a short time frame, both in terms of profitability and growth. However, he has noticed that many business owners who neglect the financial aspect of their ventures end up getting stuck in the day-to-day grind without achieving the balance they desire.

 In this episode, Brent Allen discuss how to set your business up for financial success. Brent shares his value of freedom over revenue and the importance of prioritizing time with family. He cautions against hiring consultants or coaches who have achieved success at a different stage of business, emphasizing the need to find someone who has been in the same position and achieved the desired goals. He discusses the two types of accountants - those who look down and backwards, focusing on compliance and trends, and those who look forward, providing modeling and risk-reward analysis. Brent recommends entrepreneurs to have both types of accountants for legal compliance as well as maximizing opportunities. Brent uses forecasting and modeling to anticipate and understand the risks involved in his business and expresses his passion in helping others manage their risk profile and make more deals while minimizing potential harm.

Notable Quotes

-   "One of the best pieces of advice that I could give entrepreneurs is make sure you understand a range of scenarios, a range of outcomes that are possible." - [Brent Allen]

-  "I would also encourage you to heavily emphasize people that are closer. Like if somebody has just finished growing their business from three to 10 million and that's what you want to do, that's the person you want to talk to over somebody who grew their business from three to 50. Because now they're at 50, a lot of times they have trouble remembering some of the pressures and some of the things that it took in that time frame where you're most interested."- [Brent Allen]

-  "Most business owners start a business with no financial plan. I've seen businesses grow to multimillion dollar a year revenue and they're losing money every single year."- [Jonathan Green]

-  "Over the course of my career, I've certainly noticed it's a lot easier to control your spend than it is to control your income."- [Jonathan Green]

Connect with Brent Allen

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