Boosting Your Financial IQ

In this episode of Boosting Your Financial IQ, Steve takes you behind the scenes and shares a personal story about how the podcast started and how it evolved over time. He also reveals a shift in focus towards his other podcast, Business Strategy and Finance, which combines strategy and finance for entrepreneurs and business owners. If you're looking for deeper insights on how finance can drive business success, you won’t want to miss this conversation. Tune in to discover tools and resources that could transform your business and personal financial journey. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode of Boosting Your Financial IQ, Steve Coughran discusses a critical yet often overlooked issue for fast-growing businesses—managing capital intensity. He explains how, even with profitability, a business can face bankruptcy if working capital and capital expenditures are mismanaged. Steve shares insights and practical calculations to help entrepreneurs avoid growing their businesses into financial trouble. Tune in to learn how understanding your capital requirements can keep you on the path to sustainable growth. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode of Boosting Your Financial IQ, Steve emphasizes the critical importance of knowing your numbers to achieve success in business. Drawing insights from billionaire Tilman Fertitta’s book Shut Up and Listen, he shares how understanding key financial metrics like customer acquisition costs, lifetime value, and working capital can transform the way you manage your business. With real-world examples, he illustrates how these numbers can guide better decisions, improve profitability, and prevent costly mistakes. Tune in to learn how to sharpen your financial literacy and boost your business performance.Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode, Steve discusses the key strategies for boosting financial success, including innovative investment ideas, smart savings tips, and effective debt management techniques. Tune in to learn practical advice for improving your financial health and achieving long-term wealth. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

Uncover surprising insights from over 1,000 Financial IQ assessments and learn why many struggle with financial decision-making. Explore how enhancing your financial literacy can drive business success and personal growth. Discover key strategies for creating value, boosting financial skills, and achieving financial freedom. Tune in for actionable tips to elevate your financial IQ and transform your approach to finance. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode of Boosting Your Financial IQ, Steve reveals the top five financial skills he wishes he had when starting his business. From mastering financial statements to advanced forecasting and valuation techniques, Steve shares practical insights that can transform your business acumen. Whether you’re a business leader, owner, or aspiring financial professional, this episode offers valuable tips to enhance your financial literacy and drive success. Tune in for actionable advice that will help you make informed decisions and elevate your financial strategy. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode of Boosting Your Financial IQ, Steve delves into the importance of financial skills and how mastering them can drive business success. Drawing from his experience as a CFO and his work with multi-million and billion-dollar companies, Steve highlights key concepts like building accurate forecasts, understanding LTV to CAC ratios, and combining strategy with financial acumen. Whether you're an entrepreneur, a business leader, or an aspiring financial professional, this episode offers valuable insights to help you grow your business, increase profitability, and achieve financial freedom. Tune in to learn how these essential skills can transform your financial life. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

Are you making the same costly mistakes in your business without even knowing it? In this episode of "Boosting Your Financial IQ," we dive deep into the three essential financial statements every business owner must know: the income statement, balance sheet, and statement of cash flows. Learn how to leverage these tools to drive profitability, assess financial health, and maximize firm value. Ready to elevate your financial literacy? Visit BYFIQ.com and join our Financial Pro Mastery Program for more in-depth training.Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

In this episode of BYFIQ, I dive into a fascinating analogy between overconfidence in the kitchen and financial literacy in business. It all started while watching an episode of MasterChef, one of my favorite shows. I was struck by the overconfidence of a contestant named Mark, who presented a lackluster breakfast to the judges, thinking he had the competition in the bag. This led me to reflect on my early days in business when I, too, was dangerously overconfident in my financial skills.I share a personal story of running a multi-million dollar company without knowing how to read a financial statement, which resulted in costly mistakes and lost opportunities. This lack of awareness is similar to the infamous Dunning-Kruger effect, where people with little ability in a field overestimate their competence. I recount the unbelievable tale of two bank robbers who thought rubbing lemon juice on their faces would make them invisible to cameras—a clear example of the Dunning-Kruger effect in action.Through these stories, I emphasize the importance of financial literacy and understanding your financial IQ. I invite you to take the financial IQ assessment at BYFIQ to identify areas where you might need improvement, whether it's the balance sheet, the statement of cash flows, or another aspect of finance. By applying financial principles to real-world situations, you can build critical skills that will significantly impact your career and business success.Join me as I explore how recognizing our limitations and continuously learning can prevent us from making costly mistakes and help us grow more profitable businesses. And remember, confidence without competence can be dangerous—just like thinking lemon juice can make you invisible. Until next time, take care of yourself and keep learning. Cheers!Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com

If you are looking for a greater return on investment, today I am detailing what business owners and entrepreneurs need to know about how to calculate their ROI and monitor the financial health of a business for an accurate accounting of where your business stands financially. Furthermore, we will dive into assessing and calculate specific relevant statements that will help you keep track along the way. Disclaimer:BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.byfiq.com