Bottom Line Profits

Brian Basinger
Bottom Line Profits

Welcome to Bottom Line Profits, the podcast inspired by the game-changing book by Brian Basinger, CPA. This series is a deep dive into the philosophies and strategies Brian shares to empower small business owners to transform their operations, maximize profits, and achieve meaningful growth. Whether you're a startup founder, an established entrepreneur, or simply looking for ways to elevate your financial and professional game, this podcast delivers the tools and insights you need to thrive. Each episode unpacks key themes from Bottom Line Profits, guiding listeners through the practical steps to build a profitable and sustainable business. From shifting your mindset to transitioning from "drifter" to "driven," to establishing clear goals that drive success, the show provides actionable strategies to take your business to the next level. Listeners will learn how to boost efficiency, avoid financial pitfalls, and uncover the hidden stories behind their numbers through better financial management. Brian also demystifies accounting, explaining how financial statements can provide an unbiased perspective on a business’s health and how entrepreneurs can harness these tools for smarter decision-making. The podcast doesn’t stop at business tactics. It dives into the powerful concept of leverage— using resources effectively to achieve seemingly impossible goals—and explains how strategic debt can be a valuable tool rather than a burden. Entrepreneurs will gain fresh perspectives on tax strategies, from identifying overlooked deductions to proactive planning that minimizes liabilities and maximizes savings. Beyond the business, Bottom Line Profits focuses on the personal growth journey every entrepreneur must navigate. It explores how to align personal and professional goals, find balance amidst challenges, and turn business success into a source of deeper meaning and fulfillment. If you’re ready to think bigger, work smarter, and achieve lasting success in your business and your life, Bottom Line Profits is the podcast for you. Tune in to discover actionable advice, inspiring stories, and the tools you need to thrive in today’s business landscape. 

Episodes

  1. Chapter 6: Help From Experts & Chapter 7: You

    JAN 21

    Chapter 6: Help From Experts & Chapter 7: You

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. Chapter 6: Help From Experts  You emphasize the importance of sales in transitioning from being a contractor to a full-fledged entrepreneur. Can you elaborate on the specific skills or strategies that entrepreneurs should develop to effectively generate sales and set growth targets?As businesses grow, the need for delegation and building a capable team becomes crucial. What are some key traits or skills you look for when selecting team members or experts to help scale a business, and how can entrepreneurs ensure they maintain accountability and communication with their team?  Chapter 7: You You discuss the importance of personal growth and the challenge of aligning on growth content with your partner. Can you share some specific voices or resources that have significantly influenced your journey, and how can individuals navigate differing perspectives on personal development within their relationships?You mention the idea that entrepreneurship can provide meaning through personal and professional growth, despite the inherent uncertainties of business. How can entrepreneurs find a balance between the pursuit of success and the need for personal fulfillment, especially when faced with the pressures of achieving financial goals? In this episode, Brian discusses: Transitioning from contractor to entrepreneur through sales growth and team buildingSelling predictable cash flow businesses to create wealth opportunitiesPersonal growth and overcoming challenges inherent in entrepreneurshipImportance of expert advice and hiring specialized talentDraw inspiration from influential figures to push beyond comfort zones Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    35 min
  2. Chapter 5: Tax Strategy

    JAN 14

    Chapter 5: Tax Strategy

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. Understanding Tax Strategy: You mentioned that many entrepreneurs overlook the importance of tax strategy, often resulting in significant overpayment. What are some common misconceptions or mistakes you see entrepreneurs making when it comes to managing their tax obligations, and how can they start to shift their mindset?Proactive Planning: You emphasize the necessity of being proactive rather than reactive in tax planning. Can you elaborate on some specific steps or strategies that business owners can implement to proactively manage their tax situations, especially as they approach key financial milestones?What are some common misconceptions entrepreneurs have about tax deductions, and how can they shift their mindset from simply asking, 'Can I deduct this?' to proactively strategizing 'How can I deduct this?' to maximize their savings? In this episode, Brian discusses: Strategic tax planning reduces expenses and maximizes savings for entrepreneursCPAs focus on retrospective preparation; proactive tax planning is essentialPlanning financial events and leveraging deductions minimize tax liabilityShifting expenses to family management companies enables additional savingsTax strategy pillars: deductions, entity structures, and investment incentives Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    22 min
  3. Chapter 4: Leverage

    JAN 7

    Chapter 4: Leverage

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. In your story about using leverage to move the pool without draining it, you describe how applying leverage makes the impossible achievable. How does this idea of leverage apply to entrepreneurs, and what would you say is the most overlooked form of leverage in business?You've highlighted the distinction between personal debt and investment debt, emphasizing how each can impact financial freedom differently. Can you share how entrepreneurs can best assess when taking on debt could serve as leverage rather than a burden?Alex Hormozi emphasizes the value of deep, repeated study of a single great book over skimming multiple mediocre ones. Can you share an example from your own experience where focusing on one resource or method led to a significant breakthrough in your expertise or business growth? In this episode, Brian discusses: Strategies for leveraging debt and investments for income-generating assetsImportance of effective delegation to maximize entrepreneurial efficiencyFocused efforts versus scattered tactics for sustained successValue of deep, repeated study of impactful books over superficial readingDistinction between consulting expertise and business ownership leveraging others' time Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    17 min
  4. Chapter 3: Accounting

    12/31/2024

    Chapter 3: Accounting

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. You mentioned that despite having a formal education in accounting, you were initially unprepared for real-world business accounting. What do you think academic programs could do differently to better equip graduates for practical challenges?In the book, you talk about how financial statements give an 'unbiased outside perspective' on a business's health. Can you explain how even a successful entrepreneur might miss critical insights without using these statements effectively?Many business owners often delegate the task of reviewing financial statements to their bookkeeper or accountant, viewing these documents as merely historical records. How would you advise business owners to shift this mindset, and what key insights might they gain from regularly reviewing their cash flow statements, especially the cash flow from financing activities? In this episode, Brian discusses: Practical skills in accounting education for real-world business demandsImportance of reviewing all financial statements regularly for business healthAddressing profit and loss issues by investigating costs, revenue, and overheadStaying engaged with financial reviews to control costs and improve resultsAchieving growth, maximizing profits, and building a fulfilling business life Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    20 min
  5. Chapter 2: Efficiency

    12/24/2024

    Chapter 2: Efficiency

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. You mentioned a turning point when you faced a $10,000 tax bill that nearly wiped out your account. How did that experience reshape your approach to efficiency, and what initial steps did you take to prevent future financial crises in your business?You highlight the importance of weekly financial reviews and the concept that 'what gets measured gets improved.' For entrepreneurs just starting this habit, what are some key metrics or numbers they should focus on first to see immediate impact?You describe numbers as 'silent storytellers' that reveal hidden truths about a business. Can you share an example of how tracking a specific number transformed your perspective or approach as an entrepreneur? In this episode, Brian discusses: Shifting from reactive to proactive financial planning through forecasting and strategyImportance of cash flow projections for managing business finances effectivelyTracking key numbers like labor costs to understand profit margins and revenue generationLeveraging key performance indicators to measure and improve business efficiencyAddressing the complexity of business transactions with data-driven insights      Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    18 min
  6. The Profitable Mindset

    12/17/2024

    The Profitable Mindset

    Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success. Introduction Question: You begin by describing entrepreneurship as a journey through the wilderness, with obstacles along the way. What inspired you to use this metaphor, and how does it shape the approach you recommend to entrepreneurs? Chapter 1: The Profitable Mindset: In Chapter 1, you explore the concept of a "drifter vs. driven" mindset. Can you share some key characteristics of each mindset and explain how shifting from one to the other can impact a business's success?You discuss the importance of defining concrete goals instead of abstract desires. Why is this clarity so essential, and what practical steps can an entrepreneur take to establish these specific, meaningful goals? In this episode Brian discusses: Navigating entrepreneurship as an unpredictable wilderness requiring adaptability and perseveranceImportance of shifting from a drifter mindset with vague ideas to a driven mindset with specific goalsRole of clear vision, quantifiable targets, and goal mapping in driving business and personal progressStrategies for maximizing profits while aligning business growth with personal lifestyle goalsBuilding a meaningful and sustainable business by balancing purpose and profitability      Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/  Connect with Brian: Website: https://www.contigoadvisors.com/ LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/ YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw Facebook: https://www.facebook.com/brianbasingercpa Show notes by Podcastologist: Angelo Paul Tagama Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

    14 min

About

Welcome to Bottom Line Profits, the podcast inspired by the game-changing book by Brian Basinger, CPA. This series is a deep dive into the philosophies and strategies Brian shares to empower small business owners to transform their operations, maximize profits, and achieve meaningful growth. Whether you're a startup founder, an established entrepreneur, or simply looking for ways to elevate your financial and professional game, this podcast delivers the tools and insights you need to thrive. Each episode unpacks key themes from Bottom Line Profits, guiding listeners through the practical steps to build a profitable and sustainable business. From shifting your mindset to transitioning from "drifter" to "driven," to establishing clear goals that drive success, the show provides actionable strategies to take your business to the next level. Listeners will learn how to boost efficiency, avoid financial pitfalls, and uncover the hidden stories behind their numbers through better financial management. Brian also demystifies accounting, explaining how financial statements can provide an unbiased perspective on a business’s health and how entrepreneurs can harness these tools for smarter decision-making. The podcast doesn’t stop at business tactics. It dives into the powerful concept of leverage— using resources effectively to achieve seemingly impossible goals—and explains how strategic debt can be a valuable tool rather than a burden. Entrepreneurs will gain fresh perspectives on tax strategies, from identifying overlooked deductions to proactive planning that minimizes liabilities and maximizes savings. Beyond the business, Bottom Line Profits focuses on the personal growth journey every entrepreneur must navigate. It explores how to align personal and professional goals, find balance amidst challenges, and turn business success into a source of deeper meaning and fulfillment. If you’re ready to think bigger, work smarter, and achieve lasting success in your business and your life, Bottom Line Profits is the podcast for you. Tune in to discover actionable advice, inspiring stories, and the tools you need to thrive in today’s business landscape. 

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