Ep 213 Increase the Bottom Line with Byron Wolfe

Increase the Bottom Line with Byron Wolfe

Byron's gift for translating the complexities of business financial principles with a focus on small businesses into easily understood communication has made him one of the most highly sought financial and business consultants. He is the Founder of CFO•AF, a financial services and business consulting firm specializing in industries ranging from construction to crypto. Byron is Chief Financial Officer for an INC 5000 company and is the fractional CFO of various companies with annual revenues from 3-25 Million. His certification in the Crypto, NFT, and the Metaverse space has led to many projects with DAOs and crypto companies and he is considered one of the first experts in crypto tax strategy. 

Byron’s true passion lies in helping small business owners expand their financial reach and success through various tools like the R&D tax credits, proactive tax plans, creative funding and high contact financial management.

In this episode, you will learn the following:

• Critical importance of prioritizing profit over revenue in your business.
• How implementing proper systems, processes and delegation can prevent burnout and maintain your passion for work.
• Strategies for maximizing profit through incremental changes, such as raising prices and cutting costs.
• The significance of understanding Key Performance Indicators (KPIs) to make impactful financial changes.
• Dangers of the disconnect between business owners and the financial language used by CPAs.
• How to navigate the pitfalls of making business decisions based solely on profitability without considering cash flow. 
• Strategies for aligning business growth with cash availability to prevent jeopardizing financial stability.
• True cost of business contracts and the importance of understanding their financial implications. 

Links:

Website:  https://www.cfoaf.com/ 

Social Media:

Facebook - https://www.facebook.com/cfoaf

Instagram - https://www.instagram.com/the_cfoaf/

LinkedIn - https://www.linkedin.com/in/byron-a-wolfe-cpa/

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Schedule your free, no-obligation intro call: https://bookme.name/rockyl/lite/intro-appointment-15-minutes Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up This episode is part of the SMB Podcast Network. Find other great interviews from around the internet just like this one at https://www.SMBPodcastNetwork.com Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst