
Consulting Success Podcast
Financial Mastery For Consulting Founders with Shannon Weinstein
Oct 14, 2024
Shannon Weinstein, a CPA with 15 years in corporate finance and owner of Keep What You Earn Co., shares her inspiring journey from Big Four accountant to CEO. She discusses the essential separation of personal and business finances and the significance of cash flow management for lasting business success. Shannon also tackles the fears entrepreneurs face regarding finances and offers practical strategies for overcoming them. She emphasizes the role of a fractional CFO in empowering business growth while promoting a balanced work-life dynamic, especially for women.
35:33
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Quick takeaways
- Separating personal and business finances is crucial for understanding financial health and easing tax burdens for small business owners.
- Transforming financial fears into actionable strategies fosters growth and innovation, enabling entrepreneurs to respond to community needs effectively.
Deep dives
The Importance of Financial Awareness
Many small business owners struggle with financial management due to avoidance and misconceptions about finances, leading to missed opportunities. Often, they assume that issues such as IRS correspondence are daunting and avoid addressing them, only to find the reality is far less intimidating. This avoidance habit creates a cycle of stress and confusion, ultimately harming their business operations. By promoting awareness and engagement with financial matters, business owners can transform their approach to finance from a source of anxiety to a foundation for strategic growth.
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