Keep What You Earn

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.  

Let's dive into the concept of core offer profit, which is essentially the profit derived from a specific product or service after direct costs are subtracted. She highlights the importance of understanding industry norms and calculating gross margin, providing actionable tips for both product-based and service-based businesses. Shannon also offers insights on what to do if your core offer profit is too low and hints at what's coming in the next episode. Tune in for valuable strategies to boost your business's financial health and scalability.   What you'll hear in this episode: [0:45] Unveiling the Profitable Scaling Playbook [1:35] Understanding Core Offer Profit [2:35] Calculating Costs for Product-Based Businesses [4:25] Calculating Costs for Service-Based Businesses [6:05] Evaluating Your Gross Margin [7:50] Addressing Low Core Offer Profit   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 introduces the Profitable Scaling Playbook, a comprehensive framework designed to help entrepreneurs and business owners build scalable, profitable businesses without costly mistakes. Shannon outlines the five core focus areas: core offer profit, operating profit, cash flow, customer value, and enterprise value. Dive deep into each component and learn how to measure success, unlock growth, and focus on what truly matters to elevate your business. Whether you're at the stage of ensuring a profitable offer or looking to build enterprise value, this playbook offers actionable insights to enhance your financial performance. Tune in to get a high-level overview and prepare for an in-depth exploration of the Profitable Scaling Playbook throughout the month. What you'll hear in this episode: [0:45] The Goal: Scaling and Profitability [2:35] Creating a Financial Operating System [3:20] Introducing the Profitable Scaling Playbook [5:30] Core Offer Profit: The Foundation [6:40] Operating Profit: Is Your Business Profitable? [7:50] Cash Flow: Beyond Profit [8:55] Customer Value: Maximizing Sales [10:55] Enterprise Value: Building a Sellable Business [13:40] Conclusion and Upcoming Episodes   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 often-overlooked but critical topic of managing disputes and chargebacks. These financial leaks can quietly chip away at your profits if you’re not prepared. Shannon is sharing tactical, actionable steps to build solid systems for handling refunds, disputes, and chargebacks with confidence. You’ll hear why documenting everything is non-negotiable and how to compile strong evidence to support your case. We’ll also talk about the importance of standing firm on your policies, because being generous doesn’t mean being a doormat.   Tune in to learn how to protect your revenue and scale your business without leaving money on the table.   What you'll hear in this episode: [0:45] The Impact of Small Leaks in Your Business [1:50] Handling Disputes and Chargebacks [3:50] Creating a Dispute Response Framework [4:30] Real-Life Example of a Dispute [8:10] Importance of Enforcing Policies [11:25] Conclusion and Power Sessions   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.

Shannon shares her transformative experience at the Acquisition.com scaling workshop. She discusses the critical need for business owners to hire individuals who are smarter and more skilled in specific areas to unlock growth and enterprise value. Shannon emphasizes the importance of moving from a control-centric mindset to empowering leaders within your organization, providing them with the tools and environment to succeed. Tune in to learn how this approach can propel your business forward, enhance team dynamics, and foster rapid, sustainable growth.   What you'll hear in this episode: [0:45] Lessons from the Acquisition.com Workshop [1:55] The Importance of Hiring Smarter [3:30] Challenges of Delegating Control [5:45] Empowering Leaders in Your Business [7:30] Creating a Growth-Oriented Environment [10:35] Conclusion and Cash Flow Management   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's episode focuses on the significance of collecting W-9 forms from contractors and why it can save you time and avoid issues at year-end. We'll discuss the purpose of W-9s, how to effectively collect and manage them, and best practices for keeping your records organized. Ensuring you have up-to-date W-9s can streamline tax filing, prevent penalties, and protect your deductions during audits. Push play to tune in for actionable insights.   What You'll hear in this episode: [00:45] The Importance of W-9 Forms [01:50] Best Practices for Collecting W-9s [05:45] Handling Resistance and Special Cases [06:45] Maintaining and Updating Records [08:30] Why It is Helpful to Get a W-9 from a Contractor who has an S-Corporation, Even Though They Do Not Get a 1099   If you like this episode, check out: End-of-Year Financial Prep: Three Essential Steps for Business Owners Hiring Contractors vs. Employees - Pros and Cons Simple S Corp Salary Guide for Beginners   Want to learn more so you can earn more?   Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon 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. Please consult a qualified professional before implementing anything you learn.

Explore the challenges of selling businesses built on personal brands and online courses, which often struggle to create enterprise value. Discover how low barriers to entry and trendy models can lead to pitfalls. The discussion highlights the impact of AI on creative agencies and the risks associated with affiliate income. Learn actionable tips to convert unsellable models into profit-generating ventures by systematizing processes and establishing recurring revenue streams. Focus on long-term sustainability to align your business with realistic future goals.