57 episodes

Jesse Mecham and Mark Butler teach you how to manage your business cash flow, hone your business model, and not freak out about money.

Beginning Balance Jesse Mecham

    • Business
    • 4.9 • 42 Ratings

Jesse Mecham and Mark Butler teach you how to manage your business cash flow, hone your business model, and not freak out about money.

    Running Your Business on YNAB: Mark's Complete Onboarding Process

    Running Your Business on YNAB: Mark's Complete Onboarding Process

    Thinking about taking the plunge and running your business on YNAB? Mark and Jesse covered the many benefits of doing so on the podcast in first episodes of Beginning Balance. Today, Mark goes deep into his onboarding process for new clients in his bookkeeping business, which uses YNAB for every client's financials.
     
    As Mark details, if you get the onboarding process right, once you get to "maintenance" mode with your financials it's so smooth and fast to generate financials and know exactly where your money is at. The key to onboarding is in the details, getting your bank transaction import working smoothly (this may require changing banks!), setting good payee rules, creating expense categories for tracking different revenue streams (yes expense categories!), and choosing appropriate categories to feed into your P&L.
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 58 min
    Employers, Employees, and Their Financial Stress

    Employers, Employees, and Their Financial Stress

    Data from annual PWC-led surveys, as well as YNAB's own surveys, make it clear that employees carry their financial stress into the workplace with them. In some cases, it simply results in less-happy employees; in other cases, more requests for paycheck advances and payday loans. Either way, it's a drag on workplace morale and relationships between employees, their employer, and their family at home (family relationship stress is often tied to money stress).
     
    YNAB has developed a solution to workplace financial stress, called Financial Wellness. Financial Wellness allows businesses to provide YNAB to their employees as part of the benefit's package, with all the usual support, workshops, and other budgeting training that YNAB offers to direct customers.
     
    Jesse discusses the Wellness service, the feedback received during the pilot program and beta testing, and how YNAB is positioning itself in B2B sales.
     
    Financial Wellness by YNAB:
    https://www.youneedabudget.com/wellness/
     
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 30 min
    When Is It Time to Retire? Deciding to Be Comfortable

    When Is It Time to Retire? Deciding to Be Comfortable

    Mark and Jesse ponder the question, "when should you retire?" While many sources float out the 4% Rule, or some variation of it, that states you can pull out four percent of the value of your retirement portfolio each year without running out of money. The debates about the validity of the rule in current market conditions, and the withdrawal rate, are endless, but as Mark and Jesse observe, the decision to retire is an emotional one. At the end of the day, life is uncertain, and a person has to decide that they are comfortable enough with the value of their assets, their lifestyle, and their prospects to wake up one day and not go to work on Monday morning.
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 16 min
    Clear Thinking, Team Dynamics, and Clear Organization Direction

    Clear Thinking, Team Dynamics, and Clear Organization Direction

    Mark and Jesse field a question from listener Jose, who asked what he could do to improve the communication between his team during meetings.
     
    Revising Prose by Robert Lanham
    https://www.amazon.com/Revising-Prose-5th-Richard-Lanham/dp/0321441699/ref=sr_1_1?qid=1656859182&refinements=p_27%3ARichard+Lanham&s=books&sr=1-1&text=Richard+Lanham
     
    The Five Dysfunctions of a Team:
    https://www.amazon.com/Five-Dysfunctions-Team-Leadership-Lencioni-ebook/dp/B006960LQW/ref=sr_1_1?keywords=5+dysfunctions+of+a+team+book&qid=1656858556&sprefix=5+dys%2Caps%2C68&sr=8-1
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 16 min
    Mark and Jesse Start a Business: What Do They Pick?

    Mark and Jesse Start a Business: What Do They Pick?

    Let's say you needed some money, and you wanted to start a business with minimal lead time and startup cost. What would you pick? Mark and Jesse discuss the scenario, and lay out a strong case for starting a service business.
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 19 min
    Accounting Is Cooler Than You Think: Contribution Margin and Breakeven Analysis

    Accounting Is Cooler Than You Think: Contribution Margin and Breakeven Analysis

    Businesses are concerned with profitability, and rightly so. If the business can't turn a profit, it can't stay in business very long! Calculating bottom line profitability is a fairly straightforward operation, but what about calculating the relative profitability of individual product lines or services? This is where things get complicated, and interesting!
     
    Every product or service costs something to make or provide. There are fixed costs, such as machinery, tooling, and computers, as well as variable costs, like raw materials. These are fairly easy to measure and track for each product and service. But making different products or services also has additional costs, such as time (for setting up tooling and equipment to make a product, or for executing the tasks required for a service), as well as opportunity costs -- i.e. time and materials spent making this product are time and materials not spent making other products. So, how do you account for all that and determine which products and services net you the most profit? 
     
    Enter managerial accounting, which uses several processes to help you measure profitability in a variety of ways, including contribution margin and breakeven analysis. It turns out, accounting is pretty awesome!
     
     
    Mark Butler, Virtual CFO
    https://markbutler.com
    https://letsdothebooks.com
     
    You Need a Budget
    https://www.youneedabudget.com

    • 31 min

Customer Reviews

4.9 out of 5
42 Ratings

42 Ratings

BethanyR ,

Refreshing + Relevant

I’m a small business owner in the Architecture/Design world, and this podcast is music to my ears as a YNAB user. Thanks so much for producing the show.

Iris Montalvo ,

Excellent information

This podcast is dope. I love it. Thank you for sharing your knowledge and your thoughts. We learn listening from you.

FRFhomeschool ,

A must-listen!

Mark and Jesse are down to earth and a delight to listen to. I’ve found that even episodes that I’m tempted to skip because I think they won’t apply to my situation are full of good information for any business owner. Even if you don’t own a business, you’ll learn so much listening to these conversations.

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