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Entrepreneurs on Fire
October 2023 Income Report: Podcasters’ Paradise turns 10, and more!
Nov 17, 2023
27:57
Snipd AI
The podcast discusses the October 2023 income report, forward facing financial insights for businesses, the 10-year anniversary of Podcasters' Paradise, engagement with the community, income breakdown, and tips for staying focused in 2024.
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Quick takeaways
- Forward facing financial insights allow entrepreneurs to make informed decisions and improve business performance.
- Aspiring speakers should focus on maintaining perspective, sharing personal experiences, and identifying their core message to secure speaking opportunities.
Deep dives
Rear view accounting versus forward facing financial insights
Rear view accounting, the traditional compliance-based approach used by the accounting industry, often falls short for entrepreneurs. This approach entails receiving financial reports from bookkeepers about a month after the close of each month, making it difficult to address problems and make informed decisions promptly. On the other hand, forward facing financial insights involve creating forecasts and budgets for the future. By continuously comparing actual performance to targets set in forecasts and budgets, entrepreneurs can make necessary adjustments to achieve their goals and improve business performance. This approach fosters a forward-looking mindset that allows entrepreneurs to manage ad spend, assess the impact of hiring new team members, and make other critical decisions with confidence.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode