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The Cash Flow Contractor

249 - The $600,000 Accounting Error That Almost Destroyed My Business with Cory Parks

Apr 1, 2025
59:31
Creator website

Imagine finding a $600K error in your books! Cory Parks shares his journey from near disaster to business revival. You don’t want to miss this!


Time Stamps

  • 00:45 - Episode & Guest Intro
  • 03:25 - Cory's Business Journey
  • 07:28 - Financial Struggles and Solutions
  • 11:41 - Management Team and Roles
  • 16:44 - Cory's Profit Problem
  • 22:14 - Cory's Financial Literacy Journey
  • 30:31 - CRM and Bookkeeping Challenges
  • 31:56 - Automating QuickBooks Integration
  • 32:22 - Identifying and Solving Duplicate Entry Issues
  • 33:31 - Leadership and Financial Challenges
  • 34:58 - Implementing Salary Cuts & Transparency
  • 36:52 - Rebuilding Financial Stability
  • 37:49 - The Importance of Trust and Transparency
  • 39:02 - Navigating Financial Statements
  • 42:42 - Learning from Mistakes and Seeking Guidance
  • 53:18 - Transitioning from Cash to Accrual Accounting


Snippets from the Episode

  • “I have made every single mistake that Martin talks about in his book.  Every single one of 'em!” -Cory Parks
  • “We were doing well, but we kept  coming back to our books.” -Cory Parks
  • My income statement is telling me that we are absolutely killing it. We're making $600,000 profit, but  where is the money? - Corr Parks


Resources

  • 24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
  • Schedule a 15-Minute Roadblock Call
  • Check out OpenPhone
  • Build a Business that Runs without you. Explore our GrowthKits
  • Need Marketing Help? We Recommend Benali
  • Need Help with podcast production? We recommend Demandcast


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