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You've heard the dreaded B word. Budget. Maybe you've never found one that actually sticks or maybe you're the opposite, and you feel pretty on top of your money already. Either way, this episode is going to shift how you see it.I first found Mike Michalowicz back in 2019 when I read Profit First, and it completely changed how I manage the finances here at The Pink Bee. So when his newest book, The Money Habit, came out, I devoured it. This one applies those same principles to home finances, which means you'll love it even if you're not an entrepreneur. One of my favorite parts of this conversation is when Mike and I realized his money system works exactly like the way our community already plans their time. Turns out the thing that finally makes your money make sense is treating your bank account like your calendar.In This Episode, I'll Cover:Why traditional budgets set you up to fail before you even start, and what Mike says to build instead.The number of hours a day the average person spends worrying about money, backed by a 2025 study that genuinely stopped me in my tracks.The system Mike uses to take money out of one confusing pile and give it the same at-a-glance clarity your calendar has.The one word swap that changes whether you stay buried in debt or actually dig your way out.Where to start if the whole thing feels like too much, because you do not have to do it all at once.Connect With Mike Michalowicz:www.mikemotorbike.comwww.facebook.com/MikeMichalowiczFanPage www.instagram.com/mikemichalowicz www.linkedin.com/in/mikemichalowicz ________________________________
Running an elementary school in rural British Columbia hasn't stopped this Ruckus Maker from building an indoor worm farm, growing hydroponic lettuce, and taking a self-funded year off to reset — proof that a principal's personality is not a distraction from the job. Dan Watt is a Mastermind Coach inside the Ruckus Maker community and a recurring co-host of the Ruckuscast, known for turning "pay yourself first" into a leadership philosophy that's kept him energized four years into the role. Joining him is Mitch Weathers, CEO and author of Executive Functions for Every Classroom, whose work on entry plans and executive functioning has become required reading for school leaders trying to build systems that actually stick. Find them both at betterleadersbetterschools.com. Principal burnout doesn't start with too many emails — it starts the moment you decide the job requires you to leave your actual personality at the door. This episode is an Adorable Red Hats reunion where two veteran school leaders make the case that worm farms, hydroponics, and paying yourself first aren't distractions from leadership — they're the thing that makes it sustainable.
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Zach Richards is a private lender and co-founder of REI Capital Guys, who made his first private loan in July 2020 using $100,000 of his own savings while still working a software job. He now runs a lending fund with his business partner, doing loans across the country while living rurally in New England, keeping bees, and volunteering with mountain search and rescue.This episode covers how to break into private lending, how lenders structure deals differently than banks, and how to put idle capital in your Profit First tax and reserve accounts to work. If you have money sitting on the sidelines in a savings account, an old 401(k), or an IRA and you want it working harder, this conversation is for you.Timeline Summary[1:43] – Zach's background and why private lending appealed more than managing tenants[2:28] – The nightmare tenant in his duplex that soured him on rentals for good[3:10] – Three to four months of books, attorneys, and local meetups before ever lending a dollar[3:37] – His first deal in July 2020, a $100,000 loan to an experienced flipper that paid back in six months[4:44] – Why a good attorney on your loan documents is the difference between safety and disaster[5:29] – Zach admits the $100,000 was the bulk of his savings and how he talked himself into it[6:31] – How private lenders beat banks on speed by lending against the asset, not your tax returns[6:52] – His actual terms: 80% of purchase, 100% of repairs, up to 65% to 70% of ARV[7:43] – Why relationships matter so much that repeat borrowers get a yes over text[8:46] – The mental shift from a stable W2 paycheck to lumpy business owner cash flow[10:38] – The software engineer who had to force himself to build relationships instead of hiding in numbers[11:37] – Why he and his partner merged two separate lending companies to launch a fund[13:17] – The partnership secret: a disagreement is usually a different route to the same goal[18:17] – Whether you should move Profit First tax and reserve money out of low-yield bank accounts[19:13] – The liquidity rule: don't buy property with tax money, but shorter-term lending can work[21:04] – Why a borrower with a Profit First system looks more organized and more likely to execute[22:17] – What he's seeing in the market with properties sitting 30 to 45 days instead of selling overnight[24:08] – When to get into private lending and how to lend from a self-directed IRA or HELOC5 Key TakeawaysPreparation Beats A Track Record — Zach underwrote his first deal with zero lending history because he spent months on books, attorneys, and meetups first. The prep work is what made his first loan a win instead of a lesson.Private Lenders Win On Speed — Banks want tax returns, pay stubs, and 30 days. Private lenders underwrite the asset, which is why a flipper will pay more for a fast close and a real relationship.Know Your Stress Tolerance — Going from a W2 paycheck to business owner income means great months and dead ones. Learning to sit with that swing is a skill you have to build on purpose.Idle Capital Is Costing You — Money parked in Profit First tax and reserve accounts earning 1% could be lent out instead. Just respect liquidity so the cash is back when you need it.Build The Business Around The Life — Zach designed a business in a backpack so he could live rurally, keep bees, and run search and rescue. Putting first things first is the Profit First mindset applied beyond money.Links & ResourcesREI Capital Guys Self-Directed Rollover Guide — https://reicapitalguys.community/rollover-guide Simple CFO — https://simplecfo.com • Email Zach Richards — zach@reicapitalguys.comEnjoyed This Episode?If Zach's story about turning $100,000 in savings into a private lending fund got you thinking about the money sitting idle in your own accounts, don't let it keep collecting dust. Share this episode with an investor who's been curious about getting on the lending side of the table, and follow the show and leave a rating and review so more real estate investors can find these conversations.
David Richter of Simple CFO has talked with thousands of entrepreneurs about their finances, and he keeps running into seven-figure real estate businesses operating with no QuickBooks file, no spreadsheet, and no numbers at all. In this solo episode he lays out what real-time financial reporting actually looks like and why stale numbers wreck your decisions.If your books close 30 or 60 days late, you're steering your business by gut feeling instead of data. This episode covers how fast your reporting should really be, the red flags that tell you your bookkeeper doesn't know real estate, and the specific things every investor should be checking on the balance sheet, P&L, and cash flow statement.Timeline Summary[0:26] – The core premise: if your reporting is 30 days old, your decisions are 30 days wrong[0:53] – A real client story of numbers arriving 60 days late and being wrong when they did[1:31] – Seven-figure businesses running with no QuickBooks, no spreadsheet, not even numbers on a napkin[2:12] – What good reporting actually is: it helps you make a decision[3:04] – Why entrepreneurs lose sleep at night, and it's not because they're losing money[3:48] – The realistic reporting timeline: weekly or bi-weekly, monthly at the absolute latest[4:08] – Internal bookkeepers should deliver in 1 to 5 days, third parties in 5 to 15, never over 30[4:32] – Red flag number one: your bookkeeper doesn't understand the real estate industry[5:17] – Red flag number two: as the owner, you don't know what to look for[5:36] – Balance sheet basics: negative asset or liability accounts are always a warning sign[6:22] – Why an in-progress fix and flip on your P&L instead of the balance sheet is a red flag[7:00] – Red flag number three: not tracking your actual cash movement[7:22] – Breaking down the cash flow statement and its three activity categories[7:42] – The gap between a $50,000 P&L profit and a $5,000 bank balance[8:42] – Gut feeling can get you to seven figures in revenue but won't let you keep it[9:39] – Why Profit First works as a simplified cash flow statement that names every dollar5 Key TakeawaysStale Numbers Equal Wrong Decisions — If your reporting runs 30 or more days behind, you're making decisions on outdated information. Aim for weekly or bi-weekly reporting, with monthly as your absolute ceiling.Hire A Bookkeeper Who Knows Real Estate — A warm body with general bookkeeping experience won't code your deals or exit strategies correctly. If your bookkeeper is guessing where things go, they're the wrong person.Learn The Balance Sheet Red Flags — Negative asset or liability accounts are never normal. An active fix and flip belongs on the balance sheet until it sells, not on your profit and loss.Track Cash Movement, Not Just Profit — A P&L showing $50,000 in profit means nothing if your bank account holds $5,000. The cash flow statement tells you where the money actually went.Gut Feeling Has A Ceiling — Instinct can get you to seven figures in revenue, but it won't let you keep it. Without real numbers you may hold 10% or less, or go negative.Links & ResourcesSimple CFO — https://simplecfo.com Profit First for Real Estate Investors — https://profitfirstrei.com Enjoyed This Episode?If David's rundown of balance sheet red flags made you want to pull up your own books right now, that's the point. Share this episode with an investor who's still running on gut feeling, and if it gave you a new perspective on your numbers, follow the show and leave a rating and review so more real estate investors can stop guessing and start deciding.
En este episodio hablamos de las 7 fuentes del amor incondicional y de cómo pueden ayudarte a reconstruir la conexión con tu pareja desde un lugar más profundo, consciente y verdadero. Descubrirás por qué una relación plena no se sostiene solo con tiempo juntos, sino con presencia, escucha, aceptación, gratitud, respeto y la decisión diaria de volver a mirarse con amor. Una conversación para reflexionar sobre aquello que le da sentido a todo lo demás: la calidad de tus vínculos, la manera en que amas y la posibilidad de construir una relación que no solo acompañe tu vida, sino que también la nutra. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
“Let’s keep in mind, rapid growth consumes cash. You burn cash to grow your firm.” – RJon Robins, author of Profit First for Lawyers Growing your law firm requires more than wishful thinking. It requires a deliberate plan. This episode pulls from RJon’s original 2021 livestream, where he spoke through the material that would eventually become Profit First for Lawyers. The core message is simple, yet one that is often misunderstood: temporarily sacrificing higher profit margins can be a smart investment when it’s part of a long-term strategy for building a stronger, more profitable firm that serves more people. A Tale of Two Law Firms Through a simple comparison of two law firms, RJon demonstrates why a firm growing according to a deliberate business plan may report lower profit margins today while creating significantly greater profit, stability, and opportunity in the future. Growth consumes cash. Hiring talented team members, investing in better systems, improving marketing, and expanding your firm’s capacity all require financial resources. The key isn’t avoiding those investments. It’s making them intentionally with a clear plan for where you’re headed. Intentional Growth Requires Investment Some of the most valuable returns on intentional growth never appear on a profit and loss statement. As RJon explains, a strong law firm creates more than financial profit. It creates greater personal freedom, increased stability, and the confidence that your business can continue operating even when you step away. The goal isn’t simply to maximize today’s profit percentage. It is to build a law firm that creates greater value over time. Mentioned Episode 75: Defining Success Chapter 9 of Profit First for Lawyers Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
For a long time, the biggest problem therapists faced in private practice was overworking. Burnout was a real risk during COVID — there were too many people needing care and too many therapists pushing past their own limits because there was always one more person to help.But what if that is no longer the challenge your practice is facing?In this “Best Of” episode, Linzy revisits her conversation with Julie Herres, founder and CEO of GreenOak Accounting and author of Profit First for Therapists, about what private practice owners can do when demand slows down, clients become more cautious with money, and the boundaries and structure that were once put in place to protect you from burnout start to feel a little too rigid for the season you are currently in.Together, Linzy and Julie talk about what it looks like to course-correct without panic or shame. They explore the difference between short-term actions that can bring money into the business now and longer-term moves that help make the practice more sustainable over time.They also talk about the places where business decisions can feel personal, especially around fees, client load, marketing, and the kind of flexibility that may be needed when the economy shifts.If your practice has been feeling quieter, slower, or just different lately, this conversation will help you look at what your business may need now with more clarity, curiosity, and steadiness.Timestamps:03:49 - Julie Sets Up Part Two of the Conversation04:24 - The Pendulum Swing in Private Practice05:13 - When the Problem Changes from Burnout to Lower Demand06:46 - Crickets, Tumbleweeds, and a New Business Challenge07:15 - When Protective Boundaries Become Rigidity08:21 - Why Practice Owners May Need to Make Hard Calls09:20 - Fast Money Actions vs. Long-Term Business Actions10:08 - Seeing More Clients When the Business Needs Stability11:05 - Working In the Business and On the Business12:22 - Experimenting with What This Season Requires13:48 - Marketing When Clients Are More Price Sensitive14:07 - Why Expert Support Can Shorten the Path16:10 - What Adaptive Practice Owners Are Doing Differently17:14 - Tracking What Actually Works in Your Marketing18:40 - When the Data Surprises You19:32 - Should Therapists Lower Their Fees?21:31 - Running the Numbers Before Making Fee Decisions22:29 - Pricing, Worth, and Meeting the Market23:48 - Julie and Linzy Summarize the Conversation24:28 - Linzy's Final Reflection and Community InvitationConnect with Julie Herres:Julie Herres is the founder and CEO of GreenOak Accounting, a firm that exclusively serves therapists, psychologists, and counselors in private practice across the United States. Over the years, Julie and her team have worked with hundreds of private practice owners and developed serious knowledge about what makes a practice financially successful. GreenOak's goal is to help practice owners feel comfortable with the financial side of their businesses and have profitable practices. Some of the firm's biggest success stories were achieved through implementing Profit First.Julie is an accountant and an enrolled agent (EA). She is also a speaker and the host of the Therapy for Your Money podcast.Website: https://www.greenoakaccounting.com/Book: https://www.profitfirstfortherapists.com/Podcast: https://www.therapyforyourmoney.com/For other episodes with Julie, check out:Episode 191 - Adjusting Your Private Practice in a Changing Economy (Part 1) with Julie HerresEpisode 142 - Moving at the Speed of Cash with Julie HerresEpisode 58 - Profit First for Therapists with Julie HerresEpisode 5 - Private Practice Money Mistakes with Accountant Julie HerresAbout Linzy Bonham:Linzy Bonham is a therapist turned money coach who helps private practice owners and health professionals feel calm, confident, and in control of their finances through her podcast, free workshops and comprehensive programs: Money Skills for Therapists and Money Skills for Group Practice Owners.It all started when she saw her extremely skilled colleagues struggle with the money side of business. Some had even left private practice, or were avoiding starting one, because managing finances was just too stressful.So Linzy set out to support helpers and healers with developing peace of mind about their money. Since so many were never taught money skills, she focuses on the “how” of making the business side of private practice doable — and even super satisfying.You can learn more here: https://moneyskillsfortherapists.com/aboutAnd you can follow along on social media:LinkedIn: https://www.linkedin.com/in/linzybonham/Instagram: https://www.instagram.com/moneyskillsfortherapists/Facebook: https://www.facebook.com/moneynutsandboltsWant to feel more calm and confident about your money? Join one of Linzy's free online workshops for private practice owners who want practical support with money mindset, avoidance, and the technical side of managing business finances.Explore upcoming workshops and save your spot or register to get the replay: https://moneyskillsfortherapists.com/workshopsYou can also join the new private WhatsApp community to connect with other therapists, health practitioners, and podcast listeners. Email hello@moneynutsandbolts.com for an invite.
You're Losing Profit When Your Competition Uses AI with Peter McCarroll Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com Make more, work less video: https://youtu.be/ It is 9 am. You have a ChatGPT tab open in your browser. You have had it open for six months. This week you used it to write a follow-up email and summarize a vendor contract. And in the back of your head you have been telling yourself: we are doing the AI thing. You are not doing the AI thing. You are paying for a receipt. Peter McCarroll has built AI into the actual operations of a 15-year accounting practice. Not as an experiment. As infrastructure. And what he found is that the owners stuck on email drafting are missing two levers that are already reshaping the competitive landscape in their market. In This Episode: Why a 15-year client is now in a forced sale, and the one cash decision she kept delaying that made it inevitable The three levers of AI value, and why the third is the one almost no one is pulling How Peter arrives at every client meeting already knowing the last 10 calls, the patterns, and what the owner will resist The year-end review skill that catches errors before the partner sees them, raising quality while saving partner time Why an AI subscription is not a strategy, and what a real transformation looks like inside a working business Rocky's system for turning every client transcript into a searchable coaching database Competitor compression: why the business that adopted AI 18 months ago is already changing your pricing power Key Takeaways: Cost reduction is the floor. Decision quality and revenue growth are the ceiling. Most owners never leave the floor. If you are not occasionally maxing out your AI plan, you are probably not using it enough. The subscription is not the strategy. The Profit First vault is the difference between choosing when you exit and being forced out on someone else's timeline. AI used as a thinking partner that challenges you produces better output than you or the AI alone. Competitor compression is happening now. Businesses that adopted AI 18 months ago are already faster and cheaper at the same work. Aboout Peter McCarroll: Peter McCarroll is a Chartered Accountant (NZ), CPA (Canada), and the founder of The AI Accountant — the only AI training and implementation platform built exclusively for CAS practices. He runs a full-service accounting practice at Fuel Accountants, where he has spent the past two years deploying AI across real client workflows. Peter helps accounting firms move from experimentation to operational transformation — not with theory, but with systems built inside a working practice. Links: Website: theaiaccountant.ai/ LinkedIn: https://www.linkedin.com/in/petermccarroll/ YouTube: https://www.youtube.com/@TheAIAccountant-ai Profit Blueprint Calculator I Profit Comes First: https://lp.profitcomesfirst.com/profitblueprintcalc-page Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book: https://lp.profitcomesfirst.com/landing-page-page Monthly Newsletter signup: https://lp.profitcomesfirst.com/newsletter-signup Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
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“There is no place on the balance sheet for the freedom of getting to live life on your terms.” – RJon Robins, author of Profit First for Lawyers Profit means something different to law firm owner John Cannon today than it did when he opened his law firm in 2019. In this episode, John shares how his understanding of profit has evolved since reading Profit First for Lawyers and implementing Profit First in his practice. John shares a powerful clip from Chapter 9 of the Profit First for Lawyers audiobook. It explores the idea that true profitability extends beyond dollars and cents to include freedom, intentionality, and building a business that supports the life you want to live. Beyond the Numbers Early in his career, self-described Type A personality John Cannon’s focus was simple: generate more revenue and grow the firm. As his firm matured, so did his definition of profit. Today, profit also means having the freedom to spend time with family, confidence in his leadership team, and the ability to step away from the daily practice of law while knowing the business continues to serve clients and his community well. Building a Business That Supports Your Life Implementing Profit First allowed John to build a business that reflects his personal priorities while also growing a profitable law firm. He emphasized how strategic planning, developing strong systems, delegating responsibilities, and consistently working toward his big-picture goals have been key to his success. He encourages law firm owners to define what a profitable life looks like for themselves and intentionally build a business that supports that vision instead of only measuring success by financial performance. Action Steps Define what profit means to you beyond financial results. Build your business intentionally to align with the life you’re trying to live. Remember that profit can include more than money: time, freedom, family, flexibility, and peace of mind. Connect Connect with John Cannon directly at: www.cannonandassociates.com Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
En este episodio reflexionamos sobre cómo muchas veces las quejas de la pareja no son solo reclamos, sino señales de algo más profundo que necesita atención, presencia y comprensión. Hablamos de cómo el cansancio, la desconexión, la falta de tiempo o la sensación de no ser prioridad pueden expresarse como molestia, pero en el fondo revelar una necesidad emocional que no ha sido vista. Una reflexión para dejar de reaccionar a la defensiva, escuchar con más conciencia y empezar a mirar qué hay detrás de cada queja para recuperar conexión, empatía y cercanía en la relación. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
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David Richter and Christina Gutierrez, co-hosts of the Profit First for Real Estate Investors podcast and business partners at Simple CFO, break down why the "cash is king" mantra fails so many real estate investors. Between them they've coached hundreds of investors and business owners who make good money yet still feel broke.This episode challenges conventional financial wisdom head-on: cash isn't king, and neither is cash flow. It's cash flow management that actually builds wealth, and this conversation is for any real estate investor or business owner who closes deals but never sees money left at the end of the month.Timeline Summary[1:19] – David and Christina open the episode and tee up their controversial take that goes against standard financial wisdom[1:45] – The core argument: cash is not king, cash flow is not king, cash flow management is what actually matters[2:05] – Why investors with rental cash flow can still feel broke and "good broke" on paper[2:53] – Christina reframes Profit First as a cash management tool, not accounting[3:12] – The real danger of "cash is king" is letting your cash control you by dipping in whenever you want[3:47] – David's realization: without a system, cash controls you no matter how much you have in the bank[5:15] – Comparing the Cashflow 101 game by Robert Kiyosaki to escaping the financial rat race[6:09] – Christina on teaching money lessons to their kids and the "Bank of Daddy" habit[7:36] – Parkinson's Law and the toothpaste effect: spending expands to fill available cash[9:15] – Why controlling your money is a learnable skill, not something you're born knowing[10:01] – The difference between cash management thinking and knowing where numbers sit on a statement[11:20] – Demystifying the CFO title and reframing it as a "chief financial partner"[13:36] – The hospital analogy: bookkeeper as nurse, CPA as surgeon, CFO as private doctor[14:30] – Why Simple CFO built tiered levels so fractional CFO help is attainable at any size[15:04] – Bad money habits at six figures only get magnified at seven figures[19:39] – Final case study: a client who paid down debt and got systems in place to stay out of trouble5 Key TakeawaysCash Flow Management Is King — Cash and cash flow only build wealth if you control them. Without a system, money slips out the back door no matter how much comes in the front.Money Magnifies Your Habits — Bad financial habits at $100K don't disappear at $1 million, they get ten times worse. More money never solves a management problem.A System Puts You In Control — Buckets and Profit First accounts let you assign every dollar a purpose in advance, so cash serves your goals instead of controlling your decisions.A CFO Is Your Financial Partner — Don't let the three-letter title intimidate you. A fractional CFO sits beside you to explain your numbers and guide where your money should go.Feeling Broke Isn't A Deal Problem — If you make money but never see it, the missing piece is cash flow management, not more deals. The fix is a system, not more hustle.Links & ResourcesSimple CFO — https://simplecfo.com Cashflow 101 board game by Robert Kiyosaki — https://www.richdad.comEnjoyed This Episode?If David and Christina's take on why "cash is king" keeps investors stuck hit home, you're not alone. Share this episode with a fellow investor who's closing deals but still wondering where all the money went, and if you're serious about keeping more of your profit, follow the show and leave a rating and review so more real estate investors can find it.
David Richter of Simple CFO breaks down one of the most practical questions real estate investors avoid: how to actually pay yourself first instead of paying everyone else and their mother. Drawing on the Profit First formula, he walks through the exact system for setting owner's pay when your income is unpredictable.This solo episode swaps the broken "sales minus expenses equals profit" model for the wealth formula and shows you how to build an owner's comp account that pays you consistently. If you're a real estate investor closing deals but feeling guilty about taking money out and wondering where all the cash went, this one is for you.Timeline Summary[0:26] – David opens with the hard truth that your business might be paying everyone except the person who built it[0:47] – Why the standard "sales minus expenses equals profit" formula keeps owners stuck in a rat race[1:40] – Waking up a decade into your business asking where all the money went[2:03] – The Profit First wealth formula flipped: sales minus profit equals expenses[2:23] – Why so many owners feel guilty taking money out of their own business[2:40] – Breaking down the three required components: sales, profit, and expenses in the right order[3:17] – The pay-yourself-first principle from Rich Dad Poor Dad and Robert Kiyosaki[3:36] – Lessons from The Richest Man in Babylon and The 7 Habits on putting first things first[3:57] – What margin actually means and why it's your financial safety buffer[4:32] – The simplest first step: open a separate owner's comp bank account today[5:02] – A real example of splitting $10,000 in income into consistent owner's pay[5:21] – Why the "black hole" single bank account keeps you from ever getting paid[6:15] – Building personal stability so the entrepreneurial roller coaster doesn't shake you[6:40] – Why an owner's comp account matters most when a spouse or family depends on you[7:05] – Finding your two key numbers: what you need and what you want[9:11] – Advice for W2 earners: build 6 to 12 months of reserves before making the jump5 Key TakeawaysFlip The Broken Formula — Stop using sales minus expenses equals profit. The wealth formula is sales minus profit equals expenses, so you pay yourself before you fund everything else.Open An Owner's Comp Account — Create a dedicated business checking account and route a set portion of every deal into it. This single move turns "pay yourself first" from a slogan into a habit.Know Your Need And Want Numbers — Pin down what you need monthly to cover your lifestyle, then what you want to fund your dreams. These two numbers give your owner's pay a target.Kill The Guilt Around Getting Paid — A dedicated account removes the guilt of pulling money out because it's earmarked for you. You built the business, and you deserve to be paid from it.Build Reserves Before You Leap — If you're still working a W2, stack 6 to 12 months of owner's comp reserves before quitting. Full-time investors should hold 3 to 6 months to weather the ups and downs.Links & Resources• Simple CFO — https://simplecfo.com Enjoyed This Episode?If David's owner's comp account idea got you rethinking how you pay yourself, don't keep it to yourself. Share this episode with a fellow investor who's paying everyone but themselves, and if it gave you a new perspective, follow the show and leave a rating and review so more real estate investors can build real financial clarity.
En este episodio hablamos de la importancia de definir a tu cliente ideal y de por qué intentar venderle "de todo a todos" puede estar afectando la rentabilidad, el enfoque y el crecimiento de tu negocio. Descubrirás cómo atender a clientes que no encajan con tu propuesta puede generar desgaste operativo, baja rentabilidad, problemas con el equipo y decisiones tomadas desde la urgencia. Una conversación para entender que vender más no siempre significa vender mejor, y que elegir con claridad a quién quieres servir puede ayudarte a construir una empresa más enfocada, rentable y alineada con su verdadero valor. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
Your Airbnb payout hitting your bank account is not the same thing as knowing your business is profitable.In this episode, Sarah and Annette walk through the monthly payout routine they use to track revenue, catch missing money, compare actual payouts against forecasts, and move income into the right financial buckets.They break down why every hosting business needs a dedicated business bank account, how to audit payouts against reservations, and why relying on your bank balance at the end of the month is not a real business metric.You'll also learn how they use the Profit First method to separate money for operating expenses, owner's compensation, taxes, and profit—so every dollar has a job the moment it lands.If you've ever looked at your Airbnb payouts and wondered where the money went, this episode will help you build a clearer, more consistent routine.In this episode, you'll learn:Why your Airbnb payouts should go into a dedicated business accountHow to audit every payout against every reservationWhat to do when Airbnb or another OTA underpays youHow to compare actual revenue against your forecastWhy your bank balance is not a profitability metricHow to use Profit First buckets for expenses, taxes, owner's pay, and profitResources Mentioned: Apply for Strategic Host!Mentioned in this episode:Save your workshop seat!
“If you’re not paying attention to core working capital, it’s like waking up one day and all of a sudden you’re in the middle of a shit storm. And you’re like, “How did this happen?!” – RJon Robins, author of Profit First for Lawyers In the final episode of our seven-part Financial Literacy Series, RJon introduces one of the most important concepts for long-term business stability: core working capital. Drawing from both the Profit First for Lawyers audiobook and the 2019 live workshop, he explains why maintaining adequate working capital isn’t about fear. It’s about creating the financial cushion that allows you to grow intentionally instead of constantly reacting to cash flow challenges. Throughout this series, we have talked about understanding your numbers, calculating Total Owner Benefit, determining your normalized salary, implementing Profit First, and strategically getting out of production. Core working capital brings all those lessons together. What Financial Literacy Adds to Your Life Our exploration into what it means to become financially literate as a law firm owner has been about understanding the story your numbers are telling you. This knowledge can help you make better decisions for your business, your family, and your future. Action Steps Review your firm’s monthly operating expenses and determine how much core working capital you currently have available. Meet with your leadership and financial team to discuss your growth goals and whether your current financial cushion supports those plans. Use what you’ve learned throughout this Financial Literacy Series to make intentional, well-informed decisions that strengthen your business for the long term. While financial literacy does not eliminate uncertainty, it does give you the confidence to make informed decisions about your business growth. As RJon has explained throughout the series, the goal isn’t to simply accumulate cash. It is to build a business that gives you more options, greater stability, and the freedom to think beyond today’s challenges. Mentioned Parts 1-6 of the Financial Literacy Series Part 1: You're Not Bad With Numbers Part 2: Understanding the Stages of a Law Firm's Growth Part 3: Calculating Your Total Owner Benefit Part 4: What Is Your Normalized Salary? Part 5: How Profit First Actually Works Part 6: Getting Out of Production Chapter 9: Total Owner Benefits: Core Working Capital Speak with How To Manage a Small Law Firm team Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
“If your law school experience was anything like mine, chances are they taught you nothing in law school about the business of how to manage a law firm.” – RJon Robins, author of Profit First for Lawyers Sometimes the right book arrives at the right moment. For estate planning attorney Colleen Robinson, Profit First for Lawyers arrived in the mail just as she was in the midst of looking for solutions. She didn’t know what was missing, only that there must be a better way to run a law firm that would give her the clarity, control, and future she wanted. In this episode, Colleen shares how one unexpected gift became the catalyst for a completely different way of thinking about running a law firm. She didn’t just read the book from cover to cover. She acted on what she learned. Each step created forward momentum, ultimately changing her business model and implementing Profit First. Throughout this process, she was able to significantly increase her firm’s revenue while redefining what profit means for her and her family. One Decision Led to the Next Colleen began by learning the Seven Main Parts of Every Successful Law Firm and writing her first business plan. Working with her CEO helped clarify her vision for a business that aligned with her personal, professional, and financial definition of profit. Along the way, she discovered that running a successful law firm wasn’t simply about practicing law better. It was about intentionally building a better business. Profit Changed More Than the Numbers Implementing Profit First changed more than Colleen’s finances. It changed the way she experiences business ownership. Instead of worrying about unexpected tax bills, she sets those funds aside before they’re due. More importantly, she has redefined profit to include time with her family, flexibility in her schedule, and the Total Owner Benefit her business provides. Now the business she is building reflects the life she wants to live, not the other way around. Colleen’s transformative journey began with a book in the mail and a willingness to learn, the courage to act, and the discipline to keep moving forward one decision at a time. Action Steps Complete an honest assessment of why you started your law firm and define what success looks like for you. Create or revisit your business plan with your long-term personal and business goals in mind. If you’ve been waiting for the “perfect” time to implement Profit First, start small and begin today. Mentioned Chapter 5: The Seven Main Parts of Every Law Firm Business Plan Workbook How To Manage a Small Law Firm: Business Diagnostic Boot Camp Practical Profitable Mindset lessons in The Exponential Entrepreneur podcast Connect and Engage Connect directly with Colleen Robinson: www.protectyourfamily.law Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today!
In this Simple CFO Case Files episode, we go inside the actual client work with Chris Savor, a Simple CFO who's been with the team since April 2022 and manages some of the firm's largest client relationships. Rather than talk about the methodology in the abstract, this conversation pulls back the curtain on how a CFO actually diagnoses a real estate business, cleans up the books, and turns a cash-negative operator into a profitable one. Chris walks through his "battle plan" approach, the short-medium-long framing he uses in the first 60 days, and why financial clarity is the single biggest result he delivers.The heart of the episode is two client transformations. One is a large operator with 65 properties and a thousand doors who'd been cash-flow negative for eight months because of misconfigured allocations, fixed to cash-positive inside the first 30 days. The other is a flipper who went from 20 flips a year making nothing to 200 flips and paying himself $600,000 annually, with a real reserve position and a tax strategy that wiped out three years of tax bills. It's a grounded, practical look at what a dedicated financial partner actually changes in a real estate business.Timeline Highlights[0:00] Intro to the Simple CFO Case Files series and what makes it different[0:23] Host welcomes Chris Savor and his background as a CFO since April 2022[2:01] Chris on who he works with: flippers, multifamily, short- and long-term rentals[2:55] The single biggest result Chris delivers: financial clarity for lost owners[4:29] The battle plan call and getting real about the good, the bad, and the ugly[5:35] Short, medium, and long phases all wrapped into the first 60 days[6:01] What separates Simple CFO from a typical accountant: a genuine personal partnership[8:41] Laying the financial foundation, cleaning up books, and rolling out Profit First[10:32] Case one: a 65-property, thousand-door operator cash-negative for eight months[11:01] Finding misconfigured allocations on day 28 and clawing back overspending[12:24] Getting the operator cash-positive and onto a salary for the first time[12:45] Why the Profit First book alone isn't enough without a specialist implementing it[14:26] Inside the CFO dashboard: profit-on-the-shelf and the 13-week rolling cash view[16:41] How automated, daily-updated sheets replace manual QuickBooks report pulling[16:57] Using the forecast every meeting to close the gap to a net-profit goal[19:52] Case two: a flipper who had no idea whether he was making money[20:34] The first three moves: cleanup, real estate–specific books, and mapping the money[21:05] From 20 flips a year making nothing to 200 flips and real profit[22:12] Building reserves from 1% up to 6%+ and getting the owner onto a real paycheck[23:22] Using a tax strategy with land easements and bonus depreciation to erase three years of tax[24:22] The full transformation recap: from lost and unpaid to $600K a year[26:09] Chris's words of wisdom: you're not alone, it can be fixed, don't go at it soloKey TakeawaysFinancial clarity is the number one result. Most clients arrive seeing money move in and out of their accounts but with no idea whether they're actually profitable. Knowing your numbers is what lets a CEO steer the ship.The first 60 days make or break the outcome. That window of uncovering, admitting where things really stand, and fixing the fixable-fast problems is the biggest predictor of whether a client succeeds.A real financial partner is different from a hands-off CPA. Chris meets clients where they are, meets weekly or biweekly, and treats the relationship as a side-by-side partnership rather than a transactional service.Misconfigured allocations quietly bleed cash. A large operator was cash-negative for eight months simply because rehab and operations funds were set up wrong. Fixing the allocations flipped them cash-positive within a single month.The book alone won't get you there. Free information is everywhere, but a specialist who reads numbers without emotional attachment is what actually unravels an owner's blind spots and gets results.Getting the money game right unlocks more volume, not less. The flipper scaled from 20 to 200 flips a year precisely because he finally knew where every dollar was going and could project profit deal by deal.Plan taxes ahead and idle cash becomes a strategy. Setting tax money aside early let one client redeploy roughly $250K into a tax strategy that erased three years of tax bills instead of scrambling for the IRS.Links & ResourcesSimple CFO — book a free financial discovery call — https://simplecfo.com Profit First for Real Estate Investors — apply for a free financial discovery call — https://profitrei.comClosingChris's clients prove the same thing over and over: you're not alone, and it can be fixed. The operators who win are the ones willing to roll up their sleeves and fight the battle alongside a partner who actually knows the terrain. If you're staring at deposits and withdrawals with no idea whether you're making money, that's exactly the problem Simple CFO exists to solve. If you're ready to bring clarity and structure to your business finances, visit profitrei.com to apply for a free financial discovery call with the team.
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Jem and Justin trade toddler war stories before Jem confesses he'd rather tear down 4.5m pallet racking alone at midnight than hire anyone. Justin reveals his June sales cliff after a domain migration tanked Google traffic, hitting Profit First distributions hard. They also riff on the Obsidian exodus from Notion, breaking up with Cursor for Claude Code, and why rearranging the shop is happening before finishing new products.Watch on YoutubeDISCUSSED:✍️ Comment or Suggest a TopicMigrating away from Cursor ꘎We have become a tech company ꘎Obsidian rollout ꘎Recovering migration hangoverFinishing reorganization on woodshopThe deep thinkings and feelings of leanThe internet never forgets - outro song---Profit First PlaylistClassic Episodes Playlist---SUPPORT THE SHOWBecome a Patreon - Get the Secret ShowReview on Apple Podcast Share with a FriendDiscuss on Show SubredditShow InfoShow WebsiteContact Jem & JustinInstagram | Tiktok | Facebook | YoutubePlease note: Show notes contains affiliate links.HOSTSJem FreemanCastlemaine, Victoria, AustraliaLike Butter | Instagram | More LinksJustin BrouillettePortland, Oregon, USAPDX CNC | Instagram | More Links
En este episodio reflexionamos sobre una pregunta clave para cualquier dueño de negocio: ¿realmente le estás vendiendo a las personas que quieres servir? Hablamos de cómo muchas empresas terminan aceptando clientes que no encajan con su propuesta, desgastan al equipo, presionan la operación y alejan al negocio de su verdadero propósito. Una reflexión para revisar si tu cliente actual está alineado con el tipo de empresa que quieres construir, y cómo empezar a venderle con más intención a quienes realmente puedes ayudar, servir y transformar. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
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Welcome to another episode of Women Petpreneurs Presents Book Club! Join Mary Oquendo, Denise Heroux, and Sacheen Mobley as they dive into some of their favorite business books and discuss the lessons they've gained as entrepreneurs. In this episode, Mary Oquendo introduces Denise's book, "Build It Right," which breaks down fundamental aspects of running a pet industry business, from mindset and clarity, to pricing, branding, leadership, and growth. Denise Heroux shares her thoughts on "Profit First" by Mike Michalowicz, a practical guide for building profit into your business from day one. The conversation continues with reflections by Sacheen Mobley on "The Millionaire Fast Lane" and other timeless business reads, highlighting the value of sustainable business practices and "unsexy" ventures that can lead to real success. Whether you're a pet industry professional or just love a great business book, this episode is packed with insights and inspiration to take your business to the next level!
Justin Noe spent just over 20 years as an active duty Marine before retiring and going all in on real estate. Today he runs a sales team, flips houses, and holds rentals in the Tampa area, and every piece of it is built on the Profit First system.Justin first read Profit First in 2019 while still in the military, but the real shift came at the end of 2022 when he looked back at a year of solid revenue and asked where all the money went. In January 2023 he fully implemented the system in his business and never looked back.In this conversation with host David Richter, Justin explains how he built a full year of owner's comp reserves for himself and his wife, why he genuinely looks forward to his monthly allocations, and the operational systems that now let him take a four week trip to France and Sweden while his team runs the business. He also shares the allocation formula he uses for new income streams: 10% to his church, 25% to debt paydown, 25% to investments, and 40% to family trips and home renovations.If you're a real estate investor making good money but wondering where it goes every month, this episode is a working model of cash flow management, paying yourself consistently, and the financial peace of mind that comes with mastering your money.Episode Highlights[0:30] – David introduces Justin Noe and why his Profit First implementation is the model most investors never reach[2:12] – Justin's background, just over 20 years as an active duty Marine, now retired and in real estate full time[2:52] – Discovering Profit First in 2019 through BiggerPockets while building a rental portfolio from inside the military[4:15] – The end of year wake up call, where is all the money going, and rereading the book for the fourth time[4:55] – Full Profit First implementation in January 2023, paired with David's Profit First for Real Estate Investors[6:49] – Attacking the owner's comp account and the 18 months it took to formalize paying himself[7:57] – The mission to bank a full year of salary for himself and his wife, achieved in 8 to 12 months[8:37] – Loaning money out of owner's comp for a short term deal while keeping four months of reserves untouched[10:39] – How his wife Lena got on board, 21 years together and a shared value driven money mindset[13:29] – Why Justin gets excited about monthly transfers, and the one account every entrepreneur dreads, taxes[15:49] – Starting his full time business with Profit First from day one and never knowing business without it[18:19] – The commitment behind yearly trips to Sweden and using profits to fund family travel and giving[21:52] – Hitting their highest grossing month while overseas and building a team that runs without them[24:43] – Hiring Brian on a trial basis and seeing the business improve within 30 days[27:47] – Justin's advice for owners who make money but feel broke, read Profit First and implement immediately[28:44] – The notes app allocation system, 10% church, 25% debt paydown, 25% investments, 40% fun5 Key TakeawaysPay yourself first and build real reserves. Justin set a goal of a full year of salary in his owner's comp account for himself and his wife, and hitting it removed the monthly stress of wondering if a paycheck was coming.Understand the concept, not just the mechanics. Justin didn't treat Profit First as a set of bank transfers. He absorbed the principle of only spending what's in the expense account, which is why the system stuck.Start early, even on your first deal. Justin implemented Profit First before his business had real revenue, so he never built the bad habit of pouring every dollar back into the business and ending the year with nothing.Reserves buy you options and time off. With 3 to 4 months in his operating account and a funded owner's comp, Justin can lend from his accounts, hire ahead of pain, and take four week trips overseas.Hire on a trial basis and let the finances lead. Justin commits to 60 or 90 day working trials, and because his money system showed him what he could afford, he hired for the right seats instead of panic hiring.Links & ResourcesJustin Noe Real Estate — justinnoerealestate.comFollow Justin on Instagram — @justinnoerealestateProfit First by Mike MichalowiczProfit First for Real Estate Investors by David RichterBiggerPocketsFor Growth — Justin's local growth group in the Tampa areaBook a free financial clarity call — simplecfo.comClosing RemarkIf this episode showed you anything, it's that peace of mind with money is built, not found. Justin went from wondering where a full year of revenue disappeared to banking twelve months of owner pay and taking a month off in Europe. Share this one with an investor who keeps saying they'll pay themselves "next year." Subscribe, review, and share the show, and if you're ready to keep more of what you earn, visit simplecfo.com to book your free discovery call.
On this solo episode of the Profit First for Real Estate Investors podcast, the host tackles a counterintuitive trap that catches growing real estate investors and entrepreneurs: scaling yourself right out of business. Drawing on Keith Cunningham's line from The Road Less Stupid that scaling cancer only grows the tumor, he lays out why pouring more marketing money into a business you don't fully understand is like putting fuel in a plane that's already going down.The episode is a practical walkthrough of how to scale profitably using the Profit First cash flow system. You'll learn how to set up and name your bank accounts, how to run your business by percentages instead of lump sums, and how target allocation percentages shift as you grow from startup to a quarter million and beyond. If you've ever felt like there's somehow less cash the bigger you get, this one gives you the roadmap to grow without going broke.Timeline Highlights[0:26] Why it's actually possible to scale yourself out of business, and how to spot if it's happening to you[0:46] The Road Less Stupid by Keith Cunningham and the "scale cancer, the tumor grows" principle[1:03] How Keith Cunningham connects to the Rich Dad character in Robert Kiyosaki's famous book[1:46] The spray and pray marketing mistake that keeps investors from ever paying themselves[2:24] The real game every entrepreneur is playing is the game of money, not their industry's game[3:07] What winning actually looks like: a business that serves you on the way up, not one that drains you[3:27] Step one to scaling profitably: set up a Profit First system so you know where every dollar goes[4:13] Splitting income by percentages across profit, owner's comp, owner's tax, and operating expense accounts[5:20] Target allocation percentages explained, and the goal percentages for a healthy business[5:41] The startup percentages from zero to $250K and why so much flows toward the owner early on[6:54] How the percentages shift from $250K to $500K to reinvest in opex without losing profit[7:50] Why "reinvesting every dollar" is code for scaling yourself out of business[8:39] Where to find the specific target percentages for buying, holding, and selling property[9:58] Scale with intentionality, and how to grab the book or cheat sheet to build your own roadmapKey TakeawaysYou can absolutely scale yourself out of business. Adding more fuel, usually marketing spend, to a business whose numbers aren't healthy doesn't fix the problem, it just makes you crash faster.Every entrepreneur is playing the game of money, not the game of their industry. Whether you're in real estate, run a salon, or own a brick and mortar shop, you have to know the money game to actually win it.Set up a system so you know where every dollar is going. Profit First works like the envelope method for businesses: separate, named bank accounts for profit, owner's comp, owner's tax, and operating expenses.Run your business by percentages, not lump sums. When income comes in, split it out of an income account into your other accounts by percentage so your money is intentional and spread out from the start.Target allocation percentages are your goal numbers for a healthy business. Early on, a bigger share flows to the owner because you carry less payroll and overhead, and those percentages are designed to keep you profitable at every stage.Scaling profitably just means your percentages change as you grow. Moving from zero to $250K to $500K, you shift some of owner's pay toward opex so you can reinvest in the business while still protecting profit, pay, and taxes.Protect your profitability or you become an accidental nonprofit. Reinvesting every last dollar without paying yourself or building a profit buffer is a recipe for crashing the plane.Links & ResourcesProfit First for Real Estate Investing by David Richter (book with target allocation percentages for buying, holding, and selling): https://profitrei.com Profit First cheat sheet and free book offer: https://simplecfo.com/gift ClosingIf this episode gave you clarity or a new way to think about growth, remember the core message: stop scaling in a way that hurts you and start scaling with intention, protecting your profit at every stage instead of pouring every dollar back into the fire. Be sure to like, subscribe, and comment, and if you're ready to apply this with real guidance and accountability, visit profitrei.com to schedule a free discovery call and build your path to financial clarity and freedom.
En este episodio hablamos de cómo los miedos pueden empezar a dirigir nuestras decisiones, relaciones y forma de vivir sin que nos demos cuenta. Descubrirás por qué muchas veces el sufrimiento no nace solo de lo que ocurre afuera, sino de las historias, anticipaciones y bloqueos internos que construimos alrededor del miedo. Una conversación para mirar con honestidad qué miedos te están controlando, cómo impactan tu vida personal y profesional, y cómo empezar a recuperar claridad, libertad y paz interior. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
“The law firm that cannot function without its owner or owners being there every single day doesn’t really have a business. They have a job.” – RJon Robins, author of Profit First for Lawyers Do you dream of a day when you can step away from the daily production work inside your law firm? You’re not alone. Many law firm owners find themselves so immersed in the practice of law that they have little time to build a business that can operate without them. So, where do you begin? In part six of our seven-part financial literacy series, RJon explains why getting out of production is not an overnight decision, but a gradual transition. This episode builds on concepts introduced in Part 4: What Is Your Normalized Salary? RJon takes things a step further by exploring one of the biggest challenges law firm owners will face as they begin replacing themselves inside the business. Replacing Yourself Takes a Plan Every role you perform in your firm has value. Whether you are acting as a senior associate, marketing director, salesperson, IT specialist, or janitor, someone must perform that work. The goal is not to stop doing valuable work. The goal is to intentionally replace yourself where it makes strategic sense while increasing the firm’s profitability enough to support new hires. In a candid Q&A session with law firm owners held during the 2019 Profit First for Lawyers workshop, RJon lays out a practical truth many law firm owners avoid: When you stop doing a job, the business should stop paying you for that job. The only way to maintain or increase your compensation is to create enough profit to replace the value you once produced. Transitioning out of production doesn’t happen overnight. It requires intentional planning and disciplined execution. If you’re ready to begin making that transition, this episode is for you! Action Steps Take inventory of every role you currently perform inside your law firm. (If you completed this exercise in Part 4, review your list and use it as your starting point.) Identify which roles you genuinely enjoy and which ones are draining the life out of you. Keep doing the work you love and make a plan to delegate the rest. Start the process of replacing yourself one job at a time. This will take planning, patience, and discipline. The goal isn’t to simply stop working. It is to build a business that can keep its promises to clients, team members, vendors, and you, even when you are not there every day. That kind of freedom is earned by intentionally building a stronger business. Stay tuned for the seventh and final episode in the Financial Literacy Series, where RJon brings together everything you’ve learned. You’ll understand why financial literacy is one of the most important skills a law firm owner can develop. Mentioned Parts 1-5 of the Financial Literacy Series Part 1: You’re Not Bad With Numbers Part 2: Understanding the Stages of a Law Firm’s Growth Part 3: Calculating Your Total Owner Benefit Part 4: What Is Your Normalized Salary? Part 5: How Profit First Actually Works Emergency Access Only segment from Chapter 4 (page 20) of Profit First for Lawyers Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
Mattias Clymer celebrates 200 episodes by revealing a relationship-focused CRM designed to help agents stay connected, serve clients better, simplify follow-up, and build a business that supports long-term freedom without losing the human touch today.See article: https://www.unitedstatesrealestateinvestor.com/the-200th-episode-of-the-rei-agent-that-turns-relationships-into-momentum-with-mattias-clymer/(00:00) - Celebrating 200 Episodes of The REI Agent(05:00) - Using Relationship Data, Messages, and Contact Notes to Stay Connected(10:00) - Tracking Deals, Commissions, Profit First, and Long-Term Agent Wealth(15:00) - Final Website Resources, Newsletter Invitation, and 200th Episode Thank YouMattias Clymer's 200th episode is a powerful reminder that the future does not belong to the agent who automates everything. It belongs to the agent who remembers people, follows up with purpose, serves with consistency, and builds systems that protect both the client relationship and the life behind the business. To learn more, visit https://reiagent.comIs success destroying your peace? Most pros grind until they break. Download The Investor's Life Balance Sheet: A Holistic Wealth Audit to see if you are building a legacy or heading for burnout. Presented by The REI Agent Podcast & United States Real Estate Investor® https://sendfox.com/lp/m4jrl
Send us Fan MailGet vidIQ Boost for an exclusive price! https://vidiq.com/podcastWant a 1 on 1 coach? https://vidiq.ink/theboost1on1Join our Discord! https://www.vidiq.com/discordWatch the video: https://youtu.be/_kUOrWhNynwWe talk with Matt about why he walked away from a massively successful YouTube channel and what it takes to come back with a healthier purpose. We dig into formats, money, team leadership and the inner work behind shifting from chasing views to building real community. • his early years filming with friends and learning to edit and upload • deleting old videos, restarting and learning what actually drives growth • how working with experienced creators taught him proven formats and simplicity • using a checklist and clear qualifying questions to pick stronger video ideas • the real reason for the long upload break and how faith shaped his mindset • handling a shutdown with employees, recommendations and financial runway • why high-cost shoots can flop and why lean production often wins • Profit First, gross margin thinking and treating YouTube like a business • creators who inspire impact-driven content and “win-win-win” formats • returning after a long break, fear of the first upload and rebuilding momentum • focusing on reaching hearts and building community over pure virality If you're listening to this podcast and you want to see it, I'll leave a link in the description in the show notes so you can go over there and see him and say, hey, we're keeping you accountable. If you're new here, hey, hit that subscribe button. Why not?
In this Simple CFO Case Files episode, David Richter and his business partner Christina Gutierrez kick off a new recurring series recorded right after their weekly EOS same page meeting. They pull back the curtain on how they run Simple CFO using Gino Wickman's Traction and EOS system, and why the visionary and integrator partnership has been the engine behind the business.The heart of the conversation is one recurring phrase they hear from real estate investors who walk through their door: "I wish I would have known this." David and Christina break down why so many owners stay stuck asking CFO level questions of bookkeepers and CPAs who can't answer them, what a fractional CFO actually does that's different, and how to become a master of your money without ever becoming a master of accounting. If you're flipping houses or holding rentals and you can't say what you actually kept last year, this episode points you toward the clarity you've been missing.Timeline Highlights[0:23] David introduces the new series recorded after his weekly same page meeting with partner Christina Gutierrez[1:01] How Simple CFO runs its back end on Traction and the EOS system by Gino Wickman[2:18] Christina on how EOS taught her to be open and transparent in a true business partnership[3:43] Why communication is the thing that makes a business run and what a structured system protects[4:19] A walk through Simple CFO's heavy Wednesday meeting schedule and what each meeting is for[5:10] Protecting the visionary's flow state and routing every idea to the right meeting[6:32] The recurring "I wish I would have known this" theme and a story of one owner's hair on fire[7:14] An owner who waited two years and likely lost real business value before getting his numbers cleaned up[8:38] Christina on why owners don't know who can actually help them with strategic financial questions[10:11] Most owners don't know a fractional CFO exists or that they could afford one[11:12] The real strategic questions owners never know to ask themselves[12:10] The magic of a fractional CFO is surfacing the questions you don't know to ask[13:50] Why bookkeepers and CPAs give textbook answers without knowing you or your goals[15:02] Be a master of your money, not a master of accounting, and what that actually means[17:22] How loneliness as a solo owner makes a financial partner who knows you so valuable[21:42] When to reach out and the difference between the 60 day foundation tier and ongoing CFO support[22:42] Playing offense and defense so you protect what you built while still growing[25:22] Two paths forward: a fractional CFO and the Profit First system as an entry point[26:01] A Profit First client who built a year of owner's comp and now takes a month off in Sweden each yearKey TakeawaysOwners often ask CFO level questions of the wrong people. Bookkeepers record transactions and CPAs file taxes, but neither is built to give strategic financial guidance tied to your goals.The most dangerous gap is the questions you don't know to ask. A good fractional CFO surfaces the questions that reveal whether your business is actually healthy or quietly going under.You should be a master of your money, not a master of accounting. You don't need to run QuickBooks or file taxes. You need clean numbers you can use to make decisions.Revenue alone solves nothing. Making a million dollars means little if you kept nothing, and the cause is often a cash management gap or bad bookkeeping you can't see.A fractional CFO is a relationship, not a transaction. They meet you where you are, remember the goals you set months ago, and back decisions with accurate data instead of gut feeling.Fractional high level help is more accessible than owners think. CFO, COO, and CMO support exists without the full time price tag, opening strategy to businesses that assumed they couldn't afford it.Profit First is a simple entry point for managing cash. It translates finances into business owner language and helps build reserves and owner's comp so a strong year actually shows up in the bank.Links & ResourcesSimple CFO (book a discovery call) — simplecfo.com Profit First for Real Estate Investors (apply for a free financial discovery call) — profitrei.com Profit First for Real Estate Investors by David Richter (free download) — simplecfo.com Traction by Gino Wickman — referenced as the EOS framework Simple CFO runs onClosingIf any part of this hit home, especially the part about making money but having no idea what you actually kept, don't let another year pass wishing you'd known sooner. David and Christina built this series to open owners' eyes to the financial clarity they've been missing, whether that's a fractional CFO or simply getting Profit First up and running. To bring real structure to the finances in your business, visit profitrei.com to apply for a free financial discovery call with the team.
Bickering. The escalating voices in the next room make you wonder whether to referee or run the other way. If sibling conflict has become the soundtrack of your home, you are so not alone, and this episode is for you! In week two of our Summertime Conflict series, host Stacy Bellward unpacks the heart of sibling squabbles and offers a refreshing reframe: those arguments happening between your kids right now? As a Christian parent, you have golden opportunities to raise lifelong peacemakers under your own roof. Whether you're parenting toddlers or teens locked in a week-long standoff, you'll walk away with wisdom, hope, and tangible tools to pursue peace in your family. Listen in! Key Takeaways: Gain insight into when to step into your kids' squabbles From questions to role-playing, discover practical ways to enter into the heat of the moment with your kids How learning true reconciliation points us to Christ Our Episode Sponsor Today's episode is brought to you by David Richter, owner of SimpleCFO and author of Profit First for Real Estate Investing. We're grateful for David's sponsorship, which helps make these conversations possible for families everywhere. You can find more information on his website https://simplecfo.com/. Mentioned in this Podcast: Ephesians 4:32 Matthew 5:9 Sibling Conflict Online Course cf community Episode 305 – Helping Siblings Make Up After A “Fight” Trash, Truth, Treasure Online Course Calming Strategies PDF The Table Monthly Giving Program Check out our website for more resources to support your parenting! Want to keep this conversation going? Join us inside the cf community — a faith-anchored, coach-supported space where parents grow together. Reflect on episodes like this one, ask hard questions, and celebrate the small wins alongside parents from around the world.
You didn't start your business to stay stuck. If you're serious about hitting 6 or 7 figures without sacrificing your life, book your FREE Gap Assessment with our team: https://weddingproceo.com/applicationMost wedding pros are drowning in manual follow-ups, content, and admin while the work that makes money keeps sliding to tomorrow. In this episode find out what changes when AI becomes the operational layer under your business, not a caption generator you have to prompt. This is the shift from being a tool user to being a system user, and it is happening faster than most people realize.Here is what you'll take away: - The real difference between a CRM that automates a generic funnel and an AI employee trained on your offers, pricing, and history that drafts the right reply before you wake up- Why you audit your biggest time suck first, then build one system at a time like rolling the first ball of a snowman- How AI turns the words you already say on calls and in meetings into content that sounds like you and pulls in clients like the ones you've already booked The FREE Assume Sales Training: 2x your wedding bookings in 30 days, step by step. Thousands of wedding pros have already used it to land more clients immediately! http://weddingproceo.com/freetrainingorg A favorite book of mine: Profit First by Mike Michalowicz https://amzn.to/4lbqZFwAnother favorite book of mine: Buy Back Your Time by Dan Martell https://amzn.to/3lTKLb4======================== EPISODE SHOW NOTES BLOG & MORE:https://www.weddingproceo.com/ai-powered-wedding-business======================== Thank you for tuning in to this episode of the Wedding Pro CEO Podcast. If you find these strategies helpful, make sure to share this episode with your fellow wedding pros. And remember, in the world of weddings, it's all about building genuine relationships and showcasing your best work. Until next time, keep shining, CEOs!PLEASE SUPPORT THE PODCAST! LEAVE A REVIEW HERE: https://ratethispodcast.com/swdHave a question you'd like Brandee to answer? Ask here: http://bit.ly/3ZqqPmz Heads up, CEO! Some of the links I share may be affiliate links, which means I may earn a small commission if you decide to purchase, at no extra cost to you. I only recommend tools and resources I actually use and love, and that I believe will help you grow a profitable, sustainable business you're obsessed with.========================Support the show
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“Entrepreneurially immature people won’t deal with unpleasant emotions, which is why they just end up trapped in this cycle of mediocrity their whole life.” – RJon Robins, from The Exponential Entrepreneur podcast This week we’re doing something a little different. Instead of our regular Profit First for Lawyers format, we are sharing a special episode from The Exponential Entrepreneur podcast hosted by Erika Ferenczi. The clip in this episode was originally recorded as part of the Practical Profitable Mindset program while RJon was recording the Profit First for Lawyers audiobook. This lesson explores one of the most surprising obstacles to business growth: the fear of profit. Profit Requires Discomfort According to RJon, profit requires doing things that feel uncomfortable: Raising prices Sending invoices Collecting payments Making difficult hiring and firing decisions Having honest conversations Fear naturally tells us to avoid discomfort. But when we avoid discomfort, we wind up avoiding profit as well. And there is science to back up this instinctive behavior. Drawing on the science behind the fight-or-flight response, RJon explains how fear affects our thinking, why our brains begin rationalizing emotionally safe decisions, and how those decisions can quietly limit both personal and financial growth. What Kind of Profit Are You Choosing? One of the most thought-provoking ideas in this lesson is that every voluntary exchange creates some kind of profit. Some entrepreneurs choose emotional profit over financial profit. One example is undercharging a client or failing to send invoices because they want to avoid rejection. By recognizing these patterns, business owners gain the opportunity to make more intentional decisions that align with both their personal values and their business goals. The question is not whether we are making a profit. The real question is: What kind of profit are you choosing? Mentioned The Exponential Entrepreneur podcast Break Through Your Profit First Mindset Blocks with Erika Ferenczi Take Flight: Elevate Your Mindset to Profitability with Alejandra Leibovich Does Your Accountant Have An Entrepreneurial Mindset? with Oscar Ferenczi Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
Jem and Justin chat about the World Cup's surprisingly warm reception in the US, Jem's Kitta Parts Builder getting a 3D preview upgrade (doors that actually open), and a FedEx API build that finally came together. Justin shares how Shopify's AI flagged a 430-pound weight bug before support did. They close on a real Profit First curveball: what do you do when a big deposit lands early?Watch on YoutubeDISCUSSED:✍️ Comment or Suggest a TopicWorld CupDouble shifts at ButterLike Butter Kitta Parts Builder Update - 3DHenry Holsters - overhead camera?Is it 430 lbs?Recommended: Unsolved mystery of Lorem IpsumPF oversize conundrum ꘎Dispatch improvements ꘎---Profit First PlaylistClassic Episodes Playlist---SUPPORT THE SHOWBecome a Patreon - Get the Secret ShowReview on Apple Podcast Share with a FriendDiscuss on Show SubredditShow InfoShow WebsiteContact Jem & JustinInstagram | Tiktok | Facebook | YoutubePlease note: Show notes contains affiliate links.HOSTSJem FreemanCastlemaine, Victoria, AustraliaLike Butter | Instagram | More LinksJustin BrouillettePortland, Oregon, USAPDX CNC | Instagram | More Links
En este episodio reflexionamos sobre ese miedo silencioso que muchas veces paraliza al dueño de negocio: miedo a equivocarse, a crecer, a perder el control, a tomar decisiones difíciles o a no estar a la altura de lo que su empresa necesita. Hablamos de cómo el miedo puede disfrazarse de análisis, perfeccionismo o espera, mientras el negocio sigue detenido y las oportunidades se van aplazando. Una reflexión para reconocer qué miedo está frenando tus decisiones y empezar a avanzar con más conciencia, valentía y claridad. Agenda ahora mismo y toma acción inmediata en el crecimiento de tu empresa! Esta evaluación te hará saber si eres candidato para nuestra membresía, la cual te ayudara a implementar todas nuestras herramientas probadas en tiempo record de la mano de un coach certificado. Si tienes más de 10 colaboradores en tu empresa...¡Aprovecha esta extraordinaria oportunidad! AGENDA AQUÍ Descarga GRATIS en nuestra página web el libro "Estimado Emprendedor", una guía empresarial y espiritual / alta consciencia para lograr ser un emprendedor dueño de pequeña y mediana empresa exitoso y pleno: https://helpimentoring.com/ Si te está gustando el podcast te pido tu apoyo para suscribirte y dejar un buen review de (5 estrellitas), servirían mucho para que más emprendedores dueños de pequeñas/medianas empresas como tú puedan tener acceso. Sígueme en redes sociales para que me hagas tus comentarios sobre los episodios ¿qué te gustó?, ¿qué no te gustó?, ¿qué te llamó la atención?, para seguir ayudándote y seguir mejorando el podcast. INSTAGRAM: https://www.instagram.com/helpimentoring.com FACEBOOK: https://www.facebook.com/helpimentoring Aprovecha toda la ayuda que podemos darte en helpi Mentoring: 1. Con nuestros Master Class virtuales gratis. Por este medio y en Facebook podrás enterarte de los temas, días y horas. Hacemos 4 Master Class al mes. 2. Con nuestros Facebook Live gratis de Lunes a Jueves. https://www.facebook.com/helpimentoring 3. Con nuestro blog que publicamos en nuestra página de Internet: https://helpimentoring.com/blog/ En todos los formatos mencionados anteriormente compartimos herramientas exclusivas de nuestro programa que incluye muchas de las mejores herramientas y metodologías especializadas en pequeñas/medianas empresas a nivel mundial como EMyth (de Michael E. Gerber), Pumpkin Plan (de Mike Michalowicz), Profit First de Mike Michalowicz), Duct Tape Marketing (de Jhon Hantsch), etc. de diferentes áreas (operaciones, finanzas, Capital Humano, Marketing, Ventas, etc.). Mantente positivo y busca ayuda.
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Virtual CFO Ben Hockema explains why most law firm owners pay themselves last, and how the Profit First framework fixes it. On this episode of Play Big Faster Podcast, Ben shares the exact cashflow system he uses with attorneys who hate looking at QuickBooks and instead run their business off their bank balance. You'll hear how separating profit, owner's comp, taxes, and operating expenses into distinct accounts creates clarity, why transferable practices and eat-what-you-kill practices need different exit strategies, and which KPIs actually predict revenue instead of just reporting on it. Ben leads the virtual CFO division of Illuminate Wealth Management, helping law firm owners protect their income while their business grows. Ideal for entrepreneurs who want systems that support life, not just work.
David is joined by Mike Michalowicz, author of Profit First and The Money Habit, who has spent years showing entrepreneurs why financial discipline at home is just as critical as profitability in the business. They break down why most owners are wired to spend every dollar they earn, from the behavioral science behind the hunt-and-gorge cycle to the multi-account system that removes willpower from the equation, to why 1% profit allocation can compound into a sellable, self-sustaining business.See where your business stands —Take the free Growth ScorecardListen to the full audiobook free — Get Off The TruckFollow HSBC Social's:Facebook | Instagram | YouTube | HSBC Accelerator | Jobber | Home Service Business Coach Email: info@homeservicebusinesscoach.com
In this solocast, the host breaks down one of the most overlooked financial mistakes real estate investors and entrepreneurs make: pricing deals and services without accounting for what they actually need to keep. Whether you're flipping houses, wholesaling contracts, or running a service-based business, most operators look at gross profit as the finish line and miss the real question entirely.This episode walks through a practical, Profit First-based approach to working deals backward from what you actually need to pay yourself, cover taxes, fund operations, and build reserves. If you've ever made money on a deal and wondered where it went, this episode is for you.Timeline Highlights[0:26] Host opens with a blunt warning: wrong pricing can't be fixed by doing more deals[0:52] Why "I just want to scale" is dangerous without knowing your real numbers[1:31] The hidden trap of growing by doing more of the same or pivoting out of desperation[1:57] Wholesaling context: you're selling a contract, not a property, and pricing must reflect that[2:16] Fix and flip pricing pitfalls: over-improving a property and what it costs at closing[2:55] How most investors use ARV formulas upfront but miss what they'll actually keep[3:14] The standard formula explained and why stopping at "50K profit" is the wrong stopping point[4:16] Profit First applied to deal pricing: splitting that 50K into owner pay, taxes, ops, and reserves[5:08] Real breakdown example: how 50K can disappear fast when you map it to actual needs[5:25] Why service businesses face the exact same pricing challenge as real estate deals[6:02] What happens when clients finally see each deal through a Profit First lens[6:39] The "100 deals or seven figures" goal and why it's built on air without a personal income target[7:22] The real question every business owner should answer first: what do I actually need to take home?[8:01] Final framework: price deals with the end in mind, broken into the buckets that keep you solvent[8:28] CTA: visit profitrei.com to book a free discovery callKey TakeawaysPricing your deals wrong is a structural problem, not a sales problem. No amount of volume makes up for deals that don't actually generate the income you need to keep.The ARV formula gets you to gross profit, but gross profit isn't your money. Once you know what the deal will make, you have to split it into owner pay, taxes, operations, and reserves before that number means anything.The Profit First framework works on real estate deals, not just service businesses. Map the expected profit into buckets upfront, and you'll know immediately whether a deal is actually worth pursuing.Most business owners set revenue goals based on round numbers, not real income needs. Before you decide how many deals you want to do, figure out exactly what you need to take home each month to support your life.You can't scale profitably by feel. Knowing how much of each deal goes to each bucket tells you exactly how many deals you need to hit your income goal, which is a far more useful number than a top-line revenue target.Links & ResourcesSimple CFO Solutions — https://www.simplecfo.comSchedule a free discovery call — https://www.profitrei.comClosingIf this episode changed the way you think about what a deal is actually worth, pass it along to a fellow investor or business owner who's been scaling without really knowing their numbers. Subscribe, review, and share the show to help more entrepreneurs run their businesses with less stress and more clarity. To build your own path to financial clarity, visit profitrei.com.
This episode explores financial management strategies tailored for physical therapy practice owners, highlighting how behavioral finance principles can lead to more sustainable and profitable practices. Dr. Stephanie Weyrauch speaks with Craig Dacy and shares actionable insights on building cash reserves, setting equitable owner compensation, and fostering a long-term profitability mindset—key considerations especially relevant in a landscape of changing reimbursement policies. In this episode: · How practice owners can implement the Profit First system to improve cash flow and profitability · Strategies for paying PT owners and team members competitively while maintaining business health · The importance of behavioral finance and habit formation in managing healthcare business finances · Building cash cushions to buffer the impact of delayed insurance reimbursements · Transitioning from solo to multi-location practice: financial and strategic shifts · Insights on hiring and retaining staff in a competitive employment market, including creative compensation models · Special considerations for insurance-based PT practices and handling delayed payments · The role of long-term thinking in promoting lifelong patient engagement with physical therapy · Craig's journey to authoring a book tailored to physical therapists on financial management Timestamps: 00:00 - Introduction and host introduction to Craig Dacy 00:14 - Craig's background and link with Ramsey Solutions 01:05 - Transition from teaching to financial coaching, motivated by personal debt freedom 02:04 - Connecting personal finances with managing a healthcare practice 02:26 - The link between physical therapy and finance, and the need for early financial education 03:22 - Why focus on physical therapists and their unique financial challenges 03:57 - Short-term engagement models and their impact on PT practice finances 04:37 - Promoting lifelong physical therapy and long-term patient relationships 05:05 - Expanding services and revenue streams beyond injury-based care 06:01 - Overcoming scarcity mindset in insurance-reliant practices 06:35 - Owner compensation strategies and making practices more sustainable 07:18 - Implementing profit-based accounting to manage personal and business finances 08:36 - The role of budgeting and behavioral finance in practice management 09:57 - The Envelope system adapted for business accounts 10:23 - Building a practice on a lean budget and avoiding debt 11:04 - Managing delayed insurance payments and cash flow buffers 12:02 - Percentage-based budgeting and cash cushion strategies 12:47 - Tailoring Profit First principles for healthcare settings 13:31 - Different financial strategies for growing practices 14:01 - Prioritizing payroll and managing equipment expenses 14:38 - Challenges of hiring in a competitive market and offering competitive salaries 15:06 - How to determine sustainable compensation—percentages and alternative pay models 15:56 - Profit sharing and creating ownership culture for employee retention 16:50 - Boosting practice profitability through mindset shifts 17:31 - The importance of profit in business health and longevity 18:30 - Transitioning from solo to multi-location practices and financial planning 19:19 - Growth phases and financial shifts at different revenue levels 20:48 - Proactive planning to fund expansion and staffing 21:20 - Behavioral changes needed for practice profitability and culture 22:07 - How profitability benefits the team, patients, and business sustainability 23:04 - Making profit a priority by shifting financial behaviors 24:18 - Small habits for long-lasting financial health—starting with just 1% into profit 25:00 - Speaking at Web PT's Ascend conference, and the growth mindset around money 26:20 - Craig's journey to writing a book for PTs on financial systems 27:53 - Inspiration behind the book and the process of writing 29:22 - Advice to younger self: embrace authenticity and risk-taking 30:18 - Connecting with Craig and upcoming resources for practice owners 31:23 - Final tips: opening a profit account and celebrating profitability 32:05 - Closing remarks and encouragement to adopt financial habits Resources & Links: · Profit First by Mike Michalowicz · pf4pt.com — Book landing page and pre-order info · Dacy Coaching — Practice financial consulting Connect with Craig: · Website · Schedule a coaching session · Craig on Instagram · Craig on LinkedIn · Craig on YouTube More About Craig Dacy: Craig Dacy, owner of DACY Financial Coaching, has helped hundreds of small businesses, with a focus on Physical Therapists, find confidence and clarity in their finances. After spending over a decade as an educator, Craig combines his knack for small business and love for teaching to help make the overly complicated concept of business finances incredibly simple to understand. Craig lives in Austin, TX with his wife and 2 kids. When he's not spending time with his family, he can be found reliving "the good old days" as the lead singer and bass player for his 90s cover band, Zoodust. Jane Sponsorship Information: Book a one-on-one demo here Mention the code LITZY1MO for a free month Follow Dr. Karen Litzy on Social Media: Karen's Instagram Karen's LinkedIn Subscribe to Healthy, Wealthy & Smart: YouTube Website Apple Podcast Spotify SoundCloud Stitcher iHeart Radio
“When you’ve taken your profit off the top, like we talk about in Profit First for Lawyers, and you’ve only got what you’ve only got to cover expenses, it forces you to be more honest with yourself. It forces you to grow up as a business owner and make better decisions.” – RJon Robins, author of Profit First for Lawyers What if the way you’ve been taught to think about profit is actually keeping your law firm stuck? This eye-opening episode will answer that question clearly. In part five of our seven-part financial literacy series, RJon breaks down the fundamental difference between traditional accounting and the Profit First approach. This is a small but powerful shift that forces your business to grow up. Why Discipline Forces Creativity In the 2019 workshop, RJon walks How To Manage a Small Law Firm members through the real numbers showing what happens when expenses outgrow income. The traditional approach leaves room to tolerate unmeasured marketing, underperforming staff, and bad processes. Implementing Profit First removes that cushion and forces honest conversations and decisive action about what’s really working in your business. As RJon writes in Chapter 8: “When you put profits first, you force creativity, ingenuity, and innovation into your business.” This means, instead of accepting low standards because there’s money to cover them, you’re forced to find smarter ways to get the same results more efficiently. Take Action Look at your own law firm and ask yourself, “If I protected my profit first, what would I have to stop tolerating in my business that is currently taking my profit?” And that’s it. Just sit with that question. The reality is you already know the answer. So what actions will you take now that you’ve taken the time to recognize that honest truth? Next Time: Join us for Part 6 where RJon walks through the practical application of stepping away from some of the various roles you currently hold in your law firm without tanking your income. Mentioned: Financial Literacy Series: Part 1: You're Not Bad With Numbers Part 2: Understanding the Stages of a Law Firm's Growth Part 3: Calculating Your Total Owner Benefits Part 4: What Is Your Normalized Salary? Chapter 8: Why Generally Accepted Accounting Principles (GAAP) Are Not Meant for You (pages 70-71 in the Profit First for Lawyers book) Email podcast@profitfirstforlawyers.com with subject: “Debt Ladder” for a future episode Connect Subscribe to the Profit First for Lawyers podcast Watch episodes on YouTube And most importantly, order your copy of Profit First for Lawyers today!
You didn't start your business to stay stuck. If you're ready to finally hit 6 or 7 figures WITHOUT burning out — book a call with our team → https://weddingproceo.com/application In this episode, I'm breaking down the one AI skill that has to come before any prompt, tool, or automation. Most wedding pros are building on a broken foundation, which is why their AI content sounds generic and nothing like them. I'll show you how to build your foundation file so AI finally sounds like you and saves you the hours everyone keeps promising. The (FREE!)ASSUME Sales Training: 2x your wedding bookings in 30 days—step by step. Thousands of wedding pros have already used it to land more clients immediately! http://weddingproceo.com/freetrainingorgA favorite book of mine: Profit First by Mike Michalowicz https://amzn.to/4lbqZFwAnother favorite book of mine: Buy Back Your Time by Dan Martell https://amzn.to/3ITKLb4 ========================= EPISODE SHOW NOTES BLOG & MORE:https://www.weddingproceo.com/341=========================Thank you for tuning in to this episode of the Wedding Pro CEO Podcast. If you find these strategies helpful, make sure to share this episode with your fellow wedding pros. And remember, in the world of weddings, it's all about building genuine relationships and showcasing your best work. Until next time, keep shining, CEOs! PLEASE SUPPORT THE PODCAST! LEAVE A REVIEW HERE: https://ratethispodcast.com/swdHave a question you'd like Brandee to answer? Ask here: http://bit.ly/3ZoqPmzHeads up, CEO! Some of the links I share may be affiliate links, which means I may earn a small commission if you decide to purchase—at no extra cost to you. I only recommend tools and resources I actually use and love, and that I believe will help you grow a profitable, sustainable business you're obsessed with.=========================Support the show
I've wasted so much money over the years running Foundr that I don't even want to know the number. And if I'm honest, it came down to one thing: when it's the business's money, it doesn't always feel like yours. So you spend it like it isn't. Here's the problem: when your personal and business finances are tangled up together, revenue starts to feel like income, a good month makes you feel like you can relax, and before long the business account becomes a piggy bank. You can't read your own numbers, you can't make good decisions about hiring or inventory or marketing, and you have no real idea what the business actually has. In this episode, I share the exact framework I wish someone had handed me earlier, including the Profit First model, how to pay yourself properly, and the software audit we just ran at Foundr that is saving us tens of thousands of dollars a month. Here's what you'll take away: Why treating business money as separate from personal money is harder than it sounds, and what it actually costs you when you get it wrong How the Profit First model works: splitting every dollar that comes in across dedicated accounts for tax, operating expenses, and profit Why paying yourself a fixed salary, even a modest one, forces you to run the business like a real business The one question to ask before any significant spend: can I measure the return against the risk? How a simple software audit can uncover thousands of dollars quietly leaking out every month Why a quarterly P&L review with an external accountant is one of the highest leverage habits a founder can build If your business finances and personal finances are still mixed together, or you have money in the bank but no real clarity on what the business actually has, this episode will give you a clean, practical system to fix that and start making decisions from a place of clarity. If you're loving this solo series, I'd love to hear your feedback. Email me directly at nathan@foundr.com — I read every reply. Hope you enjoy it. WANT TO GROW YOUR BRAND WITH META ADS? Join the Foundr Operators Waitlist → https://foundr.com/operators HOW WE CAN HELP YOU SCALE YOUR BUSINESS FASTER Learn directly from 7, 8 & 9-figure founders inside Foundr+ Start your $1 trial → https://www.foundr.com/startdollartrial PREFER A CUSTOM ROADMAP AND 1-ON-1 COACHING? → Starting from scratch? Apply here → https://foundr.com/pages/coaching-start-application → Already have a store? Apply here → https://foundr.com/pages/coaching-growth-application CONNECT WITH NATHAN CHAN Instagram → https://www.instagram.com/nathanchan LinkedIn → https://www.linkedin.com/in/nathanhchan/ FOLLOW FOUNDR FOR MORE BUSINESS GROWTH STRATEGIES YouTube → https://bit.ly/2uyvzdt Website → https://www.foundr.com Instagram → https://www.instagram.com/foundr/ Facebook → https://www.facebook.com/foundr Twitter → https://www.twitter.com/foundr LinkedIn → https://www.linkedin.com/company/foundr/ Podcast → https://www.foundr.com/podcast
What if the goal of your kids’ fighting wasn’t silence, but restored hearts? Most parents want the bickering to stop. But what if helping siblings make up after a fight was actually an invitation? An opportunity to show your kids a glimpse of the gospel itself, where broken relationships are made new, and joy is rediscovered on the other side of hard moments. In today’s replay episode, Jim and Lynne Jackson (Co-founders of Connected Families) join host Stacy Bellward for a rich, hope-filled conversation about building the value of restoration in your home. Drawing from Scripture and decades of personal experience, Jim and Lynne paint a beautiful picture of what’s possible when parents shift from solving conflict to restoring relationships. Key Takeaways: How to develop a value of reconciliation rooted in Christ Why modeling restoration in your own relationships (marriage, friendships, even with your own parents) is the most powerful teacher Practical, lighthearted ways to guide kids through conflict How to prepare your kids outside of conflict Age-appropriate ways to celebrate restored hearts Our Episode Sponsor Today’s episode is brought to you by David Richter, owner of SimpleCFO and author of Profit First for Real Estate Investing. We’re grateful for David’s sponsorship, which helps make these conversations possible for families everywhere. You can find more information on his website https://simplecfo.com/. Mentioned in this Podcast: Galatians 6:1 Matthew 5:23-24 Book of John Episode 139 – How to Help Kids Stop Fighting All The Time Book – Discipline That Connects With Your Child's Heart Sibling Conflict Online Course cf community Check out our website for more resources to support your parenting! Guest Bio: Jim and Lynne Jackson are the Co-Founders of Connected Families in Plymouth, MN. With over 50 combined years of professionally helping families and a love for working in the church, Jim and Lynne have been dedicated to bringing reliable, God-centered, research-based parenting resources to all families since 2002. Want to keep this conversation going? Join us inside the cf community — a faith-anchored, coach-supported space where parents grow together. Reflect on episodes like this one, ask hard questions, and celebrate the small wins alongside parents from around the world.
The Tropical MBA Podcast - Entrepreneurship, Travel, and Lifestyle
At his lowest point, Jan Roos was $240,000 underwater. He had a full sales org, a director, reps, ad spend — and was barely breaking even. So he cut all of it. Today he runs CaseFuel, a high-margin agency serving 300+ estate planning law firms, with 25 people and $50K/month in profit. In this conversation he breaks down how he got there: the niche nobody else was serving, the funnel that cracked it open, and what building a genuinely high margin service business actually requires. Guest: Jan Roos, Founder of CaseFuel Sponsor: wayfront.com/tmba Thanks to this week's sponsor Wayfront — the AI-ready operating system for productized agencies. One client portal. One team dashboard. All your data, AI-accessible. TMBA listeners get an extra free month on top of the trial at wayfront.com/tmba. Links: [Jan@casefuel.com](Jan@casefuel.com) Peter Thiel — Zero to One Eugene Schwartz — Breakthrough Advertising Mike Michalowicz — Profit First Business Resources Upcoming DC Events
Father’s Day can stir up a lot for dads. For some, it’s breakfast in bed and handmade cards. For others, it’s a quiet moment of reflection: Am I really the dad I want to be? In this special Father’s Day episode, guest host and Director of Development, Chad Hayenga, sits down with Connected Families Certified Parent Coaches David Cervenka and Joe Dewey for an honest, encouraging conversation about what it looks like to stay calm as dads, especially when things get challenging at home. Together, they share real stories from their own parenting journeys, and share the kind of wisdom that comes from walking the same journey many of you may be on. If you’re a dad who sometimes wonders if you’re getting it right, this episode is for you. You don’t have to be perfect. You just have to keep showing up, and our loving God, who redeems the lives of His servants (Psalm 34:22), is in the business of redeeming our parenting moments, too. Key Takeaways: Hear why your presence matters more than your performance Learn how to do a quick self-inventory, because a dysregulated parent can’t help a dysregulated child Shift your intensity from correction toward connection, encouragement, and coaching God is in the business of redemption Our Episode Sponsor Today’s episode is brought to you by David Richter, owner of SimpleCFO and author of Profit First for Real Estate Investing. We’re grateful for David’s sponsorship, which helps make these conversations possible for families everywhere. You can find more information on his website https://simplecfo.com/. Mentioned in this Podcast: Psalm 34: 22 1 Thessalonians 2:11–12 Book – Discipline That Connects With Your Child’s Heart Sensitive & Intense Kids Online Course Connected Families Parent Coaching Just for Dads – Included in the Free Learning Library The cf community The Table Monthly Giving Program Check out our website for more resources to support your parenting! Guest Bio: Joe Dewey is a Connected Families Certified Parent Coach. He has a Bachelor's in Mechanical Engineering and has served in full-time ministry with Cru in Leader Development and Human Resources since 2010. He has been a certified life coach since 2017. These experiences and more have molded him into a leader who leads with solutions. Whether in ministry or parenting, he finds clarity amid complexity, providing win-win solutions. David Cervenka is a Connected Families Certified Parent Coach and loves helping people connect with God's heart. He has found that the Connected Families framework has deeply impacted his own relationship with the Lord. He has almost twenty years of experience in mentoring and coaching ministry leaders in spiritual and family rhythms. David lives in Texas with his wife, Danielle, and their children. Want to keep this conversation going? Join us inside the cf community — a faith-anchored, coach-supported space where parents grow together. Reflect on episodes like this one, ask hard questions, and celebrate the small wins alongside parents from around the world.
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