546 episodes
Keep What You Earn Shannon Weinstein
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- Business
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5.0 • 172 Ratings
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Keep What You Earn is a podcast for entrepreneurs of all levels to start using their financial information as a source of inspiration rather than intimidation. Your host, Shannon Weinstein, is a CFO, CPA and business mentor with a knack for simplifying the mundane and complex concepts of money into everyday examples and analogies you can actually understand. Join Shannon and her guests as we unlock new growth strategies, tax tips and mindset shifts so you can scale your business with confidence.
[Disclaimer: Any opinions, recommendations, and tips offered on this podcast or other social media forums do not constitute individual tax or accounting advice. This content is designed to provide education and awareness about financial topics and responsibility for the benefit of the general public. Please consult a professional before implementing any of the suggestions made by Shannon or Fitnancial Solutions, LLC.]
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What Actually Happens If I Commingle Business and Personal Finances?
In today's episode, we're diving into a topic that may make you a tad uncomfortable but hold the key to your business's financial health – separating your business and personal finances. Despite warnings you've heard, I know it's tempting to treat your business account as an emergency wallet. Yet today, I'll unpack why blending cash from both worlds can do more harm than good – from muddled tax reporting to the dreaded scenario of an audit search party knocking on every account you own. By the end of this episode, we'll have outlined a simple habit shift that could shield you against massive headaches or legal duels down the line. Plus, we'll explore how a little one-on-one time with a fractional CFO can elevate your business beyond those revenue ceilings you're knocking your head against.
What you'll hear in this episode:
06:13 Benefits of separating personal and business funds, LLC protection.
09:38 Be aware of commingling business and personal expenses.
If you like this episode, check out:
The Power of Diverse Mastermind Groups for Comprehensive Growth
How to Break Free from the Corporate 9 to 5
3 Reasons to Separate Your Business Money from Personal
Want to learn more so you can earn more?
CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. -
Why Should You Separate Your Business Money from Personal Finances?
Today’s episode is all about a fundamental business practice: separating your personal finances from your business accounts. We'll be exploring three powerful reasons why keeping these entities apart is absolutely crucial, touching on better tax organization, avoiding IRS audit complications, and protecting yourself legally by not piercing your LLC's protective veil. So, if you want your business to thrive and your financial future to be secure, this is the advice you've been waiting for. Let's jump right into transforming your financial strategies and truly keep what you earn.
What you'll hear in this episode:
05:05 Maintain trust with IRS agents during audits.
09:45 Respect boundaries of business and personal finances.
11:29 Make separating business and personal transactions easier.
If you like this episode, check out:
Stop Trying to Scale Everything
The Steps to Selling a Business
How to Set a Pattern of Success for 2024
Want to learn more so you can earn more?
Download the Money Pro Matchmaker tool here
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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CFO Q&A: Should You Pay Off Loans with Extra Cash?
In this episode of Keep What You Earn, Shannon addresses a common question from a member of CFO on Demand: Should extra cash be used to pay off a small loan with 1% interest or placed in a high-yield savings account generating 3.5% interest? Shannon's insightful response delves into the logical and financial considerations behind this decision, challenging the traditional notion of debt as inherently negative. Her practical advice encourages entrepreneurs to carefully evaluate where their money can work most effectively for them, emphasizing the importance of making informed financial decisions. If you've ever grappled with similar dilemmas about optimizing your cash flow, this episode is not to be missed. Tune in to discover how to leverage your financial resources for maximum benefit and join in on the conversation with Shannon in the CFO on Demand community.
What you'll hear in this episode:
04:40 Be thoughtful about financial decisions for success.
If you like this episode, check out:
Best Practices to Collect Cash from Customers Faster
How to Generate Cash Without Increasing Price
Want to learn more so you can earn more?
CFO On Demand click here
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Turn Your Business Into a Cash Flow Machine with Adam Lean
In today’s episode, we have Adam Lean joining us from the CFO Project, a pro at steering businesses toward peak cash flow and profit. Adam reveals the six pivotal drivers of cash flow and why mastering them is crucial for your company's health.
Say goodbye to just 'owning a job' and hello to a thriving, profitable enterprise. We'll explore Adam's expertise in elevating businesses beyond the day-to-day, giving you the tools and insights needed to really keep what you earn.
Adam Lean is a former accountant turned 2-time entrepreneur who built, scaled, and sold two businesses. While helping other business owners, he realized his passion was teaching and providing tools to business owners to help them make more money and have a peace-of-mind. He currently runs The CFO Project - a training company that trains financial professionals on how to offer CFO and advisory services
The CFO Project
Facebook: https://www.facebook.com/thecfoproject
LinkedIn: https://www.linkedin.com/company/thecfoproject/
Website: https://thecfoproject.com/
What you'll hear in this episode:
06:20 CFO services, business transformation program.
08:42 Positive cash flow essential for business survival.
10:54 Profit ≠ Cash Flow: Making revenue ≠ having money.
17:09 Accelerate customer collections, extend credit wisely, manage debt.
19:59 Debt can be good if used wisely.
22:10 Accountants and bookkeepers guide clients with financial strategy.
26:22 Focus on fewer things for faster results.
29:35 Focus on right things, turning data into decisions.
32:46 Train accountants to communicate effectively with businesses.
If you like this episode, check out:
Best Practices to Collect Cash from Customers Faster
How to Generate Cash Without Increasing Price
Want to learn more so you can earn more?
Transform your small business journey – download the Small Business $tarter Kit here.
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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Do You Need Business Surgery or Business Vitamins?
Today, we're diving deep into why waiting for a crisis to solve business problems is all too common, and how proactive, preventative measures can save you from financial pain later on. We’ll discuss the importance of good financial practices from the get-go, the analogy of business vitamins versus surgery, and when it might be time to seek professional help to get back on track. Get ready to confront whether it's time to operate or to supplement as we embark on this episode, which promises to nourish your entrepreneurial spirit and get your business health in peak condition.
What you'll hear in this episode:
06:35 Improve efficiency, delegate, respect professional help.
07:41 DIY mistakes may cost more to fix.
11:17 Seek help and embrace preventive measures. Trust.
If you like this episode, check out:
The Power of Diverse Mastermind Groups for Comprehensive Growth
How to Break Free from the Corporate 9 to 5
Best Ways to Negotiate Business Deals
Want to learn more so you can earn more?
Get $50 off your HR audit with People Principles by using code SHANNON50 here.
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. -
What a Balance Sheet Actually Tells You
In today’s episode, we decode the balance sheet's mysteries and show you how this tool can guide your business decisions. You'll learn to check solvency, properly understand your assets, and ensure you're not just filling holes with bank loans. By the end, you'll have the confidence to use this info to your advantage.
What you'll hear in this episode:
03:09 Balance sheet reveals financial health in snapshot.
08:25 Pay attention to credit card, loan balances, inventory, receivables.
09:42 Are we financially healthy or relying on loans?
If you like this episode, check out:
What to Track in Your Books
What is CFO On Demand?
Taking Money Out of Your Business
Want to learn more so you can earn more?
Join Gusto today and get a $100 Visa Gift Card
Visit keepwhatyouearn.com to dive deeper on our episodes
Visit keepwhatyouearncfo.com to work with Shannon and her team
Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ
Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/
The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
Customer Reviews
Making numbers and money more approachable
I met Shannon through Instagram years ago as I was starting to build my business. I love her approach to the numbers side of things that is often stressful and overwhelming for many business owners. Learning from her has been instrumental in making me a better bookkeeper and bridge for both tax professionals and business owners.
Appreciate the out of the box thinking you offer
I particularly loved the Blue Oceans episode lately. What great analogies to get us to think outside the box, open ourselves to the boundless opportunities around us in the world. Being someone who lived in several countries as well, I could relate personally to the analogies and the business owner in me related to the connections you made here to get us thinking differently for our success. Well done!
Straightforward, Fun & Clear
"Keep What You Earn" with Shannon Weinstein is like having a chat with your savvy friend who just gets it. Shannon's down-to-earth vibe and clear explanations make tackling tricky money stuff feel totally doable, no matter where you are on your entrepreneurial journey. With each episode packed full of practical tips and real-talk insights, you'll walk away feeling empowered to take charge of your finances and grow your business like a pro. Shannon's got the chops as a CPA, coach, and business mentor, and she's here to help you navigate the money side of things with confidence. So grab your coffee and tune in – you're in for a game-changing convo!
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