45 episodes
The JWellsCFO Show Jeremy Wells, EA, CPA
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- Business
The JWellsCFO Show helps independent knowledge workers run smart businesses.
The future of business is being built by knowledge workers: consultants, creators, advisors, and agents. If you’re self-employed and making money from what you know, the JWellsCFO Show gives you tips and insights you need to get more from your business and your finances. Support this podcast: https://podcasters.spotify.com/pod/show/jwellscfo/support
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Business models for creative entrepreneurs
In this episode, I'm talking about business models and what every creative entrepreneur needs to know about them. I break down the different business models and explain how to create a sustainable and profitable one. And I'll discuss adapting your model as the market changes. Don't miss this essential guide to understanding business models!
Talking points
What a business model is and why you need to know yours
Types of business models
The steps to create your own business model
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Managing debt in your creative agency
In this episode I'm talking all about responsible debt management in a creative agency.
Talking points
When and why to use debt in your agency
How to manage debt in your agency
Types of debt for your agency
Financial ratios to help you manage debt
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Cash Flow Management for Creative Entrepreneurs: Your First Priority
In this episode, host Jeremy Wells, CPA, discusses why cash flow is the first priority for creative firm owners and why a basic accounting system is critical to manage it effectively.
Cash flow is the movement of money into and out of your business. You need cash to pay your bills, invest in your business, and meet your financial goals.
Creative firms face unique challenges that affect cash flow, such as irregular income, high expenses, slow payments, competition, and the personal needs of owners. Therefore, it's important for creative firm owners to be proactive, flexible, and resilient in managing their cash flow.
A basic accounting system is a set of tools and practices that you use to record, classify, summarize, and report your financial transactions and performance. It helps you track your income, expenses, assets, liabilities, and equity, and understand how they affect your cash flow, profitability, and financial position. By using a basic accounting system, you can monitor your cash flow, control your expenses, manage your debts and payments, and improve your decision making.
In this episode, Jeremy shares practical tips and insights on how to set up and use a basic accounting system, and how to overcome common cash flow challenges faced by creative firms.
If you're a creative firm owner who wants to better understand and manage your cash flow, don't miss this episode of "The JWellsCFO Show"! Jeremy provides valuable information and resources that can help you improve your financial management and achieve your business goals.
If you have any questions or comments about cash flow or basic accounting systems, please contact Jeremy or leave a review on your favorite podcast platform. Don't forget to subscribe to "The JWellsCFO Show" to get notified of future episodes and get access to more financial tips and strategies for creative entrepreneurs.
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Developing Your Personal Vision with Your Agency in Mind
The foundation of your financial management pyramid is your personal vision. In this episode, I talk about how a creative agency owner like yourself can develop a personal vision and how your agency factors into and supports that vision.
If you're clear on your vision, it guides and directs the decision-making for your personal finances and your agency.
I cover why your personal vision is critical to your agency's success and how to develop your personal vision.
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How to successfully manage your finances as a creative agency owner
Imagine a pyramid of financial management for creative agencies with three levels:
Cash flow—the base of the pyramid—or the ability to sustain operations.
Profitability, or the measure of the long-term sustainability and success of the company.
Wealth—the pinnacle of financial management—or assets that generate income or appreciate in value.
For each level, I discuss why it's important, how to manage it, how it relates to the other levels and your personal vision, and how my firm—JWellsCFO—can help your agency achieve your goals.
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KPIs every creative professional should know
In this episode, I discuss five sets of key performance indicators every creative agency owner needs to know.
The three kinds of KPIs
Why creative agency owners should be familiar with each kind of KPIs
Five sets of KPIs and how creative agency owners can use them in their own businesses and in their customer work
How creative agency owners can use KPIs to make a business case for working with them
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