Keep What You Earn

In this episode, Shannon sits down with Pam Jordan, an experienced CFO and founder of Pivot Business Group. Together, they demystify the role of a CFO, discuss the differences between CFOs, CPAs, and bookkeepers, and share actionable advice for business owners looking to scale and build enterprise value.   What You'll Hear: [5:00] What is a fractional CFO? [10:00] The difference between CFOs, CPAs, and bookkeepers [20:00] How to get value from your CFO, even with messy books [30:00] The importance of goals and “money trauma” [40:00]Building a flexible, family-friendly business model   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode, Shannon breaks down the essential steps to building enterprise value in your business. Whether you’re planning to scale, sell, or simply want to create a more resilient and valuable company, Shannon shares practical strategies and mindset shifts to help you get there. Tune in to focus on intentional budgeting and aligning expenses with your growth goals.   What you'll hear in this episode: [1:40] The Power of SOPs, Processes, and Documentation [3:35] Managing Risk: Tax, Legal, and Cybersecurity Essentials [7:15] Building a Business People Want to Work For (Culture & Attractiveness) [9:50] Reducing Key Man Risk & Empowering Your Team [12:25] Aligning Costs with Profit & Offers   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode we will dive into the final phase of the Profitable Scaling Playbook: building enterprise value. Shannon breaks down what enterprise value means and why it's crucial for scaling and ultimately selling your business. She emphasizes the importance of risk mitigation, the need for replicable and transferable operations, and how to avoid over-reliance on the owner. Tune in to learn actionable steps to maximize your business's value, from maintaining positive cash flow to reducing keyman risk and developing robust SOPs.   Don't miss Shannon's insights on ensuring your business can thrive without you, positioning it for a successful future sale or continuous growth.   What you'll hear in this episode: [0:45] Understanding Enterprise Value [2:15] Risk Mitigation and Management [4:55] Keyman Risk and Personal Brand Challenges [6:05] Building Systems and Processes for Scaling [6:35] Maximizing Customer Value   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Let's get into the concept of customer lifetime value (LTV) and its pivotal role in profitable scaling. Discover strategies to maximize customer spend, enhance retention, and improve cash flow by transitioning from reoccurring to recurring revenue models. Shannon shares actionable tips on upselling, improving customer experience, and leveraging customer referrals to reduce acquisition costs and boost LTV. Tune in to learn how focusing on customer value can significantly impact your business growth and set the stage for successful scaling.   What you'll hear in this episode: [0:45] Understanding Customer Lifetime Value (LTV) [1:45] Recurring vs. Reoccurring Revenue Models [7:05] The Importance of Upselling [9:10] Leveraging Referrals and Partnerships [11:15] Scaling Your Business Profitably   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Today, Shannon discusses how entrepreneurs and business owners can maximize their customer value by understanding and managing two crucial metrics: Customer Acquisition Cost (CAC) and Lifetime Value (LTV). Shannon breaks down how to calculate these metrics accurately and highlights the importance of maintaining a healthy ratio between them. She provides actionable insights into how to reduce CAC and increase LTV, using practical examples from various industries.   Tune in to learn how these strategies can lead to higher profitability and business growth.   What you'll hear in this episode: [0:40] Understanding Customer Value [1:25] Calculating Customer Acquisition Cost (CAC) [4:15] Core Offer Profit Explained [5:15] Lifetime Value of a Customer [7:25] Improving Customer Value Metrics   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Let's get into the critical topic of cash flow management for business owners. Building on the previous discussion about cash flow basics, Shannon outlines practical strategies for 'unf*cking' your cash flow, pinpointing issues of timing and blind spots. Whether you're overspending on personal expenses or mismanaging payments for loans and leases, this episode provides actionable insights for aligning your cash inflows and outflows.   Shannon highlights the importance of understanding your profit margin, securing upfront deposits, and maintaining recurring revenue models to ensure your business remains financially healthy. Tune in for a deep dive into optimizing your cash flow to not only survive but thrive in your entrepreneurial journey.   What you'll hear in this episode: [0:45] Understanding Cash Flow Issues [1:55] Identifying and Addressing Blind Spots [4:55] Mastering Timing in Cash Flow [9:55] Practical Cash Flow Management Tips   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode Shannon takes a deep dive into the crucial distinction between profit and cash flow. Learn why cash flow is an essential tool for managing your money effectively and how to measure it accurately. Shannon breaks down how cash flow incorporates various elements beyond operational profit, including investments, debt financing, and asset purchases, providing a comprehensive understanding of why your bank account might not reflect your business's profitability.   Tune in to discover actionable steps to create a weekly cash flow forecast, diagnose cash flow constraints, and prepare for potential financial troubles. Stay ahead of the curve and ensure your business runs smoothly by mastering cash flow with practical advice from an expert. Don’t miss the next episode where Shannon will reveal how to fix common cash flow problems.   What you'll hear in this episode: [0:45] Understanding Cashflow vs. Profit [1:30] Components of Cashflow [3:55] Measuring and Monitoring Cashflow [6:20] The Importance of Cashflow Forecasting [9:35] Fixing Cashflow Issues   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Do you understand the true importance of a solid budget? Shannon calls this your 'profit plan,' and explains how to categorize expenses into fulfillment costs, acquisition costs, and operating costs. She provides actionable strategies for ensuring your business remains profitable despite variable monthly profits. Learn how to analyze your profit and loss statement, identify areas of overspending, and make conscious decisions about investments in marketing and personal versus team development. Tune in to understand how to adapt your budgeting based on your business's current season and priorities.   What you'll hear in this episode: [0:45] Understanding Operating Profit [1:30] Budgeting for Profitability [2:05] Analyzing Business Expenses [3:05] Setting Financial Targets [4:35] Addressing Overspending Issues [5:20] Optimizing Acquisition Costs [6:20] Managing Operating Costs [7:55] Strategic Budgeting Decisions [9:45] Maintaining Consistent Margins   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.  

Discover the crucial differences between operating profit and net profit for your business. Learn how to measure these metrics effectively as a percentage of sales. Shannon shares actionable tips to balance acquisition costs and operating expenses, ensuring sustained profitability. The discussion emphasizes the importance of regular profit assessments akin to nutritional planning for your finances. Tune in for insights on budgeting and strategizing your profit to avoid common pitfalls that can erode your earnings.

How can you ensure you're making enough on each unit sold to cover the costs of running your business? The focus is on evaluating your pricing strategy, understanding product-market fit, and considering the impact of scaling on customer affordability. Shannon offers actionable advice on reducing costs, negotiating with suppliers, and fine-tuning your pricing to improve profitability. She also underscores the importance of strict boundaries regarding service offerings and the potential need to prune less profitable services. To help entrepreneurs implement these strategies, Shannon offers personalized power sessions. Tune in to learn how small adjustments in your business strategy can result in significant profitability improvements.   What you'll hear in this episode: [0:45] Understanding Core Offer Profit [1:35] Pricing Strategies for Profitability [2:40] Addressing Customer Base and Market Fit [3:40] Optimizing Sales and Close Rates [4:45] Managing Discounts and Payment Terms [6:15] Reducing Costs and Enhancing Focus   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.