Keep What You Earn

There's a recurring theme in my recent client calls: the uncertainty many business owners face about the true health of their business. Discover why it's crucial to periodically step back and assess your business's performance objectively. You'll learn how to interpret common financial signals and maintain a balanced view of your business's health, even when self-doubt creeps in. Tune in to find out why concise, honest feedback can be a game-changer for your peace of mind and long-term success.   What you'll hear in this episode: [0:50] Client Calls and Common Concerns [1:40] Assessing Business Health [3:15] Communicating with Clients [4:35] Understanding Client Perspectives [6:50] Understanding the Client’s Questions   If you like this episode, check out: The Five Money Metrics You Need Start with This Financial Metric (Financial Priority Formula Part 1) How Healthy Is Your Business? (Appearance on Next Level Life Podcast)   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.

In this episode, we dive deep into the financial side of running a business, translating the complexities into enjoyable, understandable concepts. Using engaging analogies, I shed light on IRS audits and the nuances of handling personal expenses through your business. We explore the risks associated with aggressive tax strategies, the importance of knowing your risk tolerance, and how strategic planning can help save taxes. Plus, I share practical tips to keep your business and personal expenses separate for better financial clarity. Tune in to learn how to manage your finances smartly and grow your wealth.   What you'll hear in this episode: [0:50] Understanding IRS Audits: The Speeding Analogy [2:15] Advice on Personal Expenses and Business [4:50] Risks of Aggressive Tax Strategies [9:25] Practical Tax Planning Tips [11:30] Separating Business and Personal Expenses   If you like this episode, check out: You Are Overthinking Tax Strategies How We Handle Personal Expenses in a Business What Entrepreneurs Need to Know About Tax Deductions   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.

In this episode, we tackle one of the most stressful situations a business owner can face—a cash flow crunch. I discuss how cashflow issues can drastically affect behavior and business culture, and the importance of recognizing early warning signs. I'll guide you through effective strategies to manage cash flow, such as creating a cash flow forecast and building a cash reserve. You'll learn why it's crucial to avoid quick fixes like loans or deep discounts, and why increasing the speed of cash collection while managing expenses is vital. We also explore how to prioritize spending and the importance of professional financial advice. Tune in to learn practical, actionable steps to prevent and navigate through cashflow slumps, ensuring your business stays financially healthy.   If you like this episode, check out: Are You Sabotaging Your Own Cash Flow? Maximize Profit and Cash Flow (Financial Priority Formula Part 2) Smart Cash Management for Business Owner   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.

In this episode, I discuss the common challenges faced by business owners when hiring financial help. I offer a strategic approach to hiring financial support by explaining the importance of building your finance team from the ground up. I also emphasize the cost-effectiveness of hiring a rock-solid accounting specialist or clerk for day-to-day operations and then layering on a fractional CFO for high-level strategic advice. I highlight the pitfalls of hiring a high-cost CFO without adequate ground-level support, while drawing parallels to hiring a brain surgeon to perform basic tasks. Additionally, I also touch on the value of quality data, the role of a controller, and the importance of proper resource allocation. By the end of the episode, you will understand how to structure your financial team for maximum efficiency and value.   What you'll hear in this episode: [0:50] Hiring Financial Help for Your Business [2:55] Understanding the Role of a CFO [3:20] Cost and Value of Hiring a CFO [5:45] Building Your Finance Team from the Ground Up [9:05] The Importance of Quality Data   If you like this episode, check out: Do You Need a CFO in Your Business? Are You Ready For a CFO in Your Business? Better Decisions Start with Better Data   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.

In today’s episode, I dive into a topic that often confuses business owners: the difference between an expense and an asset. While you might think your bookkeeper has it all handled, it's vital to understand how these distinctions affect your business's tax benefits and overall financial health. We’ll cover the basics of expenses – your typical operating costs such as advertising, materials, and rent. On the other side, we’ll define assets, like ovens or refrigerators for a bakery, which help generate revenue over multiple years. Learn how to properly categorize these items, the importance of depreciation, and how intangible assets like websites and franchise fees fit into the mix. Whether you’re investing in new equipment or paying franchise fees, I'll provide you the insights you need to strategically manage these expenses and maximize your tax benefits. Plus, find out how setting the right expectations and aligning your spending with profit and personal goals can pave the way for a successful 2025. Tune in to get equipped with the knowledge to better handle your business’s financials!   What You'll hear in this episode: [0:50] Understanding Expenses in Your Business [1:50] Defining Assets and Their Importance [3:50] Depreciation Explained [7:00] Intangible Assets and Amortization [9:15] Strategic Planning for Assets and Expenses   If you like this episode, check out: Understanding Bonus Depreciation and Recapture The Truth About Tax Savings and Strategies What They Never Tell You About Depreciation   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.

In today's episode, we talk with Certified Financial Planner Mary Clements Evans, author of "Emotionally Invested". Mary shares her approachable, jargon-free insights on personal finance. We break down the emotional aspects of financial planning, focusing on the personalities that drive financial behaviors.   Mary also delves into her own experience of transitioning from corporate America to launching her own financial advisory firm at the age of 52. We discuss the importance of having a financial plan, understanding your cash flow needs, and creating a comfortable space for discussing often-intimidating financial topics. By the end of the episode, you'll be inspired to take control of your financial future while debunking many common myths related to financial planning. So grab a notebook and tune in—it’s time to keep what you earn!   What You'll hear in this episode: [0:50] Meet the Expert: Mary Clements Evans [2:25] Mary's Journey to Financial Planning [5:35] Understanding Financial Designations [14:00] Client Personalities: FOMO vs. FRO [21:40] The Financial Therapy Session [22:15] Promoting the YouTube Channel22:37 Couples and Financial Dynamics [23:30] Women in Financial Meetings [24:30] Solution-Focused Financial Advice [26:50] Understanding Volatility and Risk [30:25] The Importance of Financial Education [37:40] Personal Financial Stories   If you like this episode, check out: Shannon's Appearance on "Earn & Invest" with Jordan Grumet Don’t Stop Playing the Long Game Financial Planning Basics for Personal Wealth with Drew Faloon   Connect with Mary on LinkedIn https://www.linkedin.com/in/mary-clements-evans-098538 Get your copy of Emotionally Invested: https://www.amazon.com/Emotionally-Invested-Outsmart-Fearless-Retirement/dp/B0DSS7XJKS   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.

In this episode, I'm tackling a common challenge many business owners face: balancing long-term marketing strategies with the need for immediate cash flow. While the long game in marketing often yields the highest ROI through sustainable results, it requires patience and consistent investment, which can strain your budget if not managed properly. I'll dive into effective ways to manage your spending, discuss the importance of setting monthly budgets, and share actionable tips on maintaining a balanced approach between short-term gains and long-term growth.   From setting aside money for short-term ad testing to understanding acquisition costs and percentage of revenue targets, this episode equips you with the knowledge to play the long game wisely. I'll also highlight the importance of continuous effort, regular follow-ups, and clear success metrics to ensure your long-term strategies are effective. Tune in and learn how to scale your business sustainably while safeguarding your cash flow!   What you'll hear in this episode: [0:50] The Impatience of Business Owners [1:25] Playing the Long Game in Marketing [2:25] Balancing Short-Term and Long-Term Investments [3:15] Managing Marketing Spend [7:10] Consistency in Long-Term Strategies [8:40] Defining Success in Long-Term Marketing   If you like this episode, check out: 4 Steps to Start Your Investing Journey with Tess Waresmith How Courtney Tarrant Built a Profitable Agency Breaking All the Rules Why Tolerating Risk Can Build Value   Want to learn more so you can earn more?  Visit keepwhatyouearn.com to dive deeper into 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.

In this episode, we're discussing creative strategies for offering discounts without hurting your bottom line. I'll share insights on how to effectively scale your business, save money in taxes, and create a wealth-growing enterprise. While offering discounts is a common approach to driving sales and accommodating price-sensitive customers, there are smarter ways to do it that ensure you still capture full value.   Learn how to make discounts contingent on referrals or specific actions taken by the buyer, and understand the significance of knowing your margins. Discover the importance of valuing yourself and your offer by extracting non-financial value in exchange for discounts, ensuring that you don't devalue your services. This episode is packed with actionable advice on pricing strategies, customer acquisition costs, and building a supportive network. Get ready to transform how you approach discounts and grow your business profitably. Tune in and start the show!   What you'll hear in this episode: [0:50] The Pitfalls of Offering Discounts [1:50] Creative Ways to Offer Discounts [2:20] Understanding Your Margins [3:00] Leveraging Customer Referrals [5:20] Incentivizing Repeat Business [7:15] Valuing Your Offer [7:45] Networking and Referrals   If you like this episode, check out: Differentiating Between Margin and Markup Lowering Your Price to Sell More? Acquire Cheaper and Better Customers (Financial Priority Formula Part 3)   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.

Today, I'm thrilled to welcome back Cass Thompson, a former career coach and expert in all things networking. Cass believes that while our opportunities to connect are endless thanks to social media and digital tools, those connections require genuine effort to transform into meaningful relationships. That's why she founded The One Hello Society, a community designed to foster accountability in follow-ups, which are crucial for business success.   In this episode, we dive deep into building authentic relationships, effective networking strategies for 2025 and beyond, and the importance of prioritizing personal interactions over productivity. Whether you're giving, taking, or simply staying in touch, you'll learn how to harness these connections for maximum impact. Plus, hear about Cass's unique approach to networking without the 'ick' factor and her insights into why everything stems from caring for people rather than just giving value. Tune in for an engaging and insightful conversation that will transform your perspective on networking and relationship building.   What You'll hear in this episode: [0:50] Guest Introduction: Cass Thompson [1:35] Networking in the Digital Age [2:25] Building Authentic Relationships [4:25] The Importance of Staying in Touch [5:50] Personalizing Networking Efforts [8:15] Creating Opportunities Through Casual Interactions [18:50] Effective LinkedIn Strategies [24:35] Balancing Automation and Personalization [31:15] The ROI of Personalization [32:15] Effective Follow-Up Strategies [34:25] Time-Bound Networking Tactics [38:00] Building Authentic Relationships [41:15] The Power of Listening and Helping [44:10] Consistency and Accountability [50:35] Leveraging Existing Networks [57:55] Introducing One Hello Society   If you like this episode, check out: How to Use LinkedIn Strategically in Your Business with Cassandra Thompson Proven Methods for Organic Content with Peter Vander Wall How Getting in the Right Rooms Gets You the Biggest Advantage with Veena Jetti   Connect with Cassandra: Learn More About One Hello Society https://www.cassthompson.com/onehellosociety Connect with Cassandra on LinkedIn www.linkedin.com/in/cassthompson Connect with Cassandra on IG www.instagram.com/cassthompsonconsulting   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.

In this episode, I'm diving into the nuances of investor relations, especially for those who've never raised capital before. We'll explore the essentials of forming a corporation, crafting investor agreements, and, crucially, how to communicate effectively with your investors.   I'll share actionable tips on maintaining strong investor relationships, the importance of setting realistic expectations, and the downsides of over-sharing financial details. Learn how to keep your investors informed, secure, and confident in their investment without overwhelming yourself or your CFO. Tune in for a comprehensive guide to making the financial side of your business more enjoyable and sustainable.   What You'll hear in this episode: [0:50] Understanding Investor Relations [1:35] Crafting Investor Agreements [2:30] Effective Communication Strategies [3:45] Managing Financial Expectations [6:35] Optimizing Investor Updates [8:55] Balancing Optimism and Realism   If you like this episode, check out: Investing in Businesses - What You Need to Know Best Ways to Negotiate Business Deals Do You Need a CFO in Your Business?   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.