The Sneaky Ways Businesses Lose Money

Jul 16, 2025

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The Hidden Danger in Letting Invoices Slide - "It's not fair for you to spend all your money to deliver the product or service. And then the customer drags you out for 30 days, 90, 60, 120 a year, and you're not getting money on that." Glenn Harper

Glenn Harper and Julie Smith discuss a topic every business owner dreads but can’t afford to ignore: money leaks.

Have you ever wondered where your hard-earned profits are slipping away? Glenn and Julie break down the sneaky ways businesses lose money—from unnoticed subscriptions and mounting overtime to hidden high interest rates and lax customer payments. With candid stories and actionable advice, they reveal how to spot these financial drains and what steps you can take to plug the holes.

Whether you’re a seasoned entrepreneur or just starting out, this episode will leave you thinking twice about your financials—and might just save you enough for your next vacation!

This episode is brought to you by PureTax, LLC. Tax preparation services without the pressure. When all you need is to get your tax return done, take the stress out of tax season by working with a firm that has simplified the process and the pricing. Find out more about how we started.

3 Key Takeaways for Entrepreneurs:

Review Automated Payments & Subscriptions: Those small, recurring charges on your business credit card can snowball over time. Make it a habit to audit subscriptions at least once a year—what you save could fund your next vacation!
Keep a Close Watch on Labor Costs: Overtime and inaccurate job costing can secretly burn through your payroll budget. Set clear parameters and delegate time-tracking to managers who can monitor labor hours and catch inefficiencies before they escalate.
Don’t Let Unpaid Invoices Slide: Failing to follow up on Accounts Receivable delays cash flow. Establish firm processes to ensure customers pay on time—those outstanding payments could be the difference between scrambling and scaling.

Running a business doesn’t have to run your life.

Without a business partner who holds you accountable, it’s easy to be so busy ‘doing’ business that you don’t have the right strategy to grow your business.

Stop letting your business run you. At Harper & Co CPA Plus, we know that you want to be empowered to build the lifestyle you envision. In order to do that you need a clear path to follow for success

Our clients enjoy a proactive partnership with us. Schedule a consultation with us today.

Download our free guide - Entrepreneurial Success Formula: How to Avoid Managing Your Business From Your Bank Account.

Glenn Harper, CPA, is the Owner and Managing Partner of Harper & Company CPAs Plus, a top 10 Managing Partner in the country (Accounting Today's 2022 MP Elite). His firm won the 2021 Luca Award for Firm of the Year.

An entrepreneur and speaker, Glenn transformed his firm into an advisory-focused practice, doubling revenue and profit in two years. He teaches entrepreneurs to build financial and operational excellence, speaks nationwide to CPA firm owners about running their businesses like entrepreneurs, and consults with firms across the country. Glenn enjoys golfing, fishing, hiking, cooking, and spending time with his family.

Julie Smith, MBA, is a serial entrepreneur in the public accounting space. She is the Founder of EmpowerCPA™, Founder of PureTax, LLC, COO for Harper & Company CPAs Plus, and Co-host of the Empowering Entrepreneurs podcast.

Named CPA.com's 2021 Innovative Practitioner of Year, Julie led Harper & Company's transition to an advisory-focused firm, doubling revenue and profit in two years. She now empowers other CPA firm owners nationwide through consulting and speaking, teaching them how to run their businesses like entrepreneurs. Julie lives in Columbus, OH with her family and enjoys travel, coaching basketball, sporting events, and the occasional shopping spree.

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