Contractor Evolution 234. 3 Ways to Control Profit and STOP Confusing Your Finances - Spencer Sheinin
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Aug 27, 2025 In this enlightening discussion, Spencer Sheinin, bestselling author and CEO of Shift Financial, shares his journey from contractor to financial guru. He reveals how to make sense of complex financial data through storytelling and visual tools. Spencer highlights the importance of spotting red flags in Profit & Loss statements and the essential roles of financial teams in contracting businesses. Discover actionable strategies to enhance profitability and empower your financial decisions, turning numbers into a roadmap for success.
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How Shift Financial Began
- Spencer started as a CPA and banker, then ran multiple businesses including skincare and construction before founding Shift Financial.
- A business owner asked him for help translating finance at a talk, which sparked Shift's mission.
Language Barrier Between Owners And Accountants
- Spencer explains the language gap: accountants are trained on debits/credits while owners need usable business insights.
- This mismatch causes owners to feel lost and say, 'My accountant never told me that.'
Clear Definition Of Financial Empowerment
- Financial empowerment means knowing your position, the key financial issues, and a plan to fix them.
- Spencer Sheinin defines empowerment as quick, simple, and intuitive understanding and action.
