Profit Answer Man: Implementing the Profit First System!

Rocky Lalvani
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Profit Answer Man: Implementing the Profit First System!

Hi, I'm the Profit Answer Man! The Profit Answer Man podcast is a weekly show hosted by Rocky Lalvani, a business coach and Certified Profit First Professional. In each episode, Rocky shares his expertise on how to increase profitability and cash flow for small businesses. Episode 1 is the why, 2 - is Mike Michalowicz, and 3-13 are Rocky's take on each chapter in the book. The Profit Answer Man podcast is designed for small business owners, entrepreneurs, and anyone else looking to improve their financial management skills. Rocky covers a wide range of topics, including how to prioritize profit, manage cash flow, and grow your business. One of the things that sets the Profit Answer Man podcast apart is Rocky's engaging and entertaining style. He uses anecdotes, humor, and relatable examples to make the concepts he's discussing easy to understand and apply. If you're a small business owner looking for practical advice on how to improve your financial management and increase profitability, the Profit Answer Man podcast is definitely worth a listen. Whether you're just starting out or have been in business for a while, you'll find plenty of valuable insights and tips that can help you take your business to the next level. Sign up to be notified when the next cohort of the Profit First Experience Course is available! http://bit.do/profitblueprint More about making profitability simple: http://profitcomesfirst.com/ Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

  1. Cash Flow Mastery with Anthony Nitsos

    HACE 3 DÍAS

    Cash Flow Mastery with Anthony Nitsos

    Cash Flow Mastery with Anthony Nitsos   On this episode of The Profit Answer Man, we welcome Anthony Nitsos, the CEO and Founder of SaaS Gurus. Anthony shares his journey from medical school to mastering finance and becoming a trusted advisor to SaaS startups. His unique perspective focuses on addressing the root causes of financial and operational inefficiencies, bringing lessons from medicine and Japanese manufacturing to the business world.   In this episode, you will learn: Why Anthony left medical school and how that shaped his approach to problem-solving in business. The importance of preventive measures in finance, akin to healthcare practices. How understanding and applying lean processes can enhance operational efficiency. Insights from Anthony’s experiences with Japanese business principles and their application in finance and accounting. Practical steps SaaS startups can take to streamline operations and achieve consistent profitability.   Key Takeaways: Preventive Finance is Key: Much like in healthcare, treating symptoms without addressing the underlying cause can lead to recurring problems. Anthony emphasizes identifying and solving root issues in accounting and finance to prevent recurring operational challenges​. Efficiency Through Standardization: Borrowing from Japanese manufacturing, Anthony underscores the value of creating standardized processes in repetitive tasks like invoicing, payroll, and sales order creation. This minimizes errors and saves time and resources​. Cultural Lessons on Frugality and Value: Influenced by his Greek immigrant background and Japanese business culture, Anthony highlights the significance of being resourceful while delivering maximum impact—focusing on quality over quantity​ Understanding SaaS-Specific Challenges: SaaS companies face unique financial hurdles, from managing subscriptions to scaling operations. Addressing these challenges requires a tailored approach that includes proper financial forecasting, expense management, and strategic investment.   About Anthony Nitsos: Anthony Nitsos is the founder of SaaS Gurus, a fractional CFO service dedicated to SaaS startups. With a rich background in medical training, lean manufacturing, and financial leadership, Anthony’s insights are rooted in finding efficient, value-driven solutions for businesses. He has been instrumental in the success of unicorn exits like Duo Security and LLamasoft, helping SaaS businesses scale with financial clarity​.   Conclusion: Anthony Nitsos demonstrates the power of applying lessons from diverse disciplines to business finance. By focusing on prevention, standardization, and cultural efficiency, SaaS startups can navigate complex financial landscapes with confidence. His journey is a testament to the importance of holistic thinking in achieving sustainable profitability.   Links: LinkedIn: https://www.linkedin.com/in/anthonynitsos/ Website: https://saasgurus.io/   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! 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. #profitfirst

    42 min
  2. Building the Right Business Model with Wes Barefoot

    17 DIC

    Building the Right Business Model with Wes Barefoot

    Building the Right Business Model with Wes Barefoot   In this episode, we dive into the exciting and often misunderstood world of franchising with Wes Barefoot, entrepreneur, franchise expert, and host of the Path to Freedom podcast. Wes shares his journey from corporate employee to franchise owner and consultant, detailing how franchising can create financial and time freedom for aspiring entrepreneurs.   In this episode, you will learn: What Makes Franchising a Unique Pathway: Explore how franchising offers a structured system that accelerates business success for individuals, even those without industry experience. The Blueprint for Franchise Success: Learn the steps to identify the right franchise opportunities based on personal goals, interests, and financial capabilities. Insights on Franchise Operations: Discover the nuances of owning and managing franchise businesses, including lessons from Wes’ personal ventures. How to Achieve Freedom Through Business Ownership: Wes shares actionable tips to transition from employee to entrepreneur while achieving financial independence.   Key Takeaways:  Franchising Benefits: Wes explains how the proven systems and support within franchise models can help entrepreneurs avoid the steep learning curve of starting a business from scratch. Learning from Experience: Through his own journey with two franchise businesses—one he continues to operate—Wes illustrates the potential of franchising to create sustainable and profitable business models. A Tailored Approach: The importance of aligning franchise selection with personal values, skills, and long-term goals is crucial to success. Freedom and Flexibility: Franchising isn’t just about business ownership; it’s about achieving a lifestyle where your business serves your life, not the other way around.   About Wes Barefoot:  Wes Barefoot is a seasoned entrepreneur with years of experience in the franchising space. As a franchise owner himself, Wes now uses his expertise to guide aspiring business owners through the process of identifying and securing franchise opportunities that align with their aspirations. He is also the host of the Path to Freedom podcast, where he shares insights on building freedom and success through business ownership. When not working, Wes enjoys life in Wilmington, NC, with his wife and two children.   Links:  Website: path2freedom.com YouTube: @FRANCHISE2FREEDOM Instagram: @PATH2FRDM Facebook: PATH TO FREEDOM LinkedIn: Wesley Barefoot   Conclusion:  Franchising might not be the first option that comes to mind for aspiring entrepreneurs, but as Wes Barefoot demonstrates, it can be a powerful tool for creating financial independence and a fulfilling life. By leveraging systems and support, franchise owners can achieve their dreams faster and more effectively than going it alone. Tune in to this episode for a deep dive into the world of franchising and actionable insights to jumpstart your path to freedom.   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    49 min
  3. Optimizing Your Business Finances with Miller Bradford

    10 DIC

    Optimizing Your Business Finances with Miller Bradford

    Optimizing Your Business Finances with Miller Bradford   Welcome back to The Profit Answer Man Podcast! Today, we dive into the dynamic world of financial management for small businesses with our guest, Miller Bradford, founder of Up Accounting Inc. Miller specializes in providing innovative bookkeeping, payroll, and financial operations solutions for small businesses, with a particular focus on builders and Chick-fil-A franchises. Join us as we explore Miller's journey, his insights into financial systems, and how Profit First helps businesses achieve consistent profitability.   In this episode, you will learn: The Challenges of Managing Builders and Franchise Finances: Miller shares how his team works with both builders and franchise owners, identifying similarities and unique challenges in these industries. The Impact of Profit First on Business Success: Discover how Miller’s clients leveraging Profit First are among the most profitable, organized, and cash-flow stable businesses. How to Build Scalable Financial Operations: Learn tips for managing financial workflows and scaling operations as a growing small business. Utilizing Technology for Financial Management: Miller highlights tools and practices that streamline financial processes for greater efficiency and accuracy.   Key Takeaways: Profit First Drives Success: Miller confirms that his most successful clients embrace Profit First principles, creating disciplined cash management practices that prevent financial shortfalls and promote growth. The Importance of Systems: Having the right systems in place not only simplifies bookkeeping but also creates a foundation for scalability. Partner with Experts: Entrepreneurs excel when they focus on their core strengths and partner with professionals to handle accounting and payroll operations.   About Miller Bradford: Miller Bradford is the founder of Up Accounting Inc., based in Birmingham, Alabama. Established in 2022, Up Accounting specializes in bookkeeping, payroll, and financial management services for small businesses. Over the past two years, Miller has grown his firm to serve over 45 clients across 15 states, supported by a team of three employees. With a focus on leveraging technology, Miller helps businesses streamline their financial operations, enabling owners to focus on growth and profitability.   Links: LinkedIn:https://www.linkedin.com/in/miller-bradford-172190146/ Instagram: https://www.instagram.com/builderbookkeep/ upaccounting.com    Conclusion:  Miller Bradford’s insights underline the value of embracing systems like Profit First to achieve financial clarity and stability. Whether you're a builder, franchise owner, or small business entrepreneur, his strategies offer actionable steps to streamline operations, optimize cash flow, and drive profitability.   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    37 min
  4. The Shatterproof Entrepreneur with Scott Reib

    3 DIC

    The Shatterproof Entrepreneur with Scott Reib

    The Shatterproof Entrepreneur with Scott Reib   In this episode of The Profit Answer Man, Rocky Lalvani dives into the critical topic of protecting and growing your business with Scott Reib, known as "America's Legal Coach." With over two decades of experience in helping business owners secure their ventures, Scott shares strategies that are foundational for sustainable business growth and resilience. As a Zig Ziglar Legacy Certified Trainer and a thought leader in the legal field, Scott introduces practical ways to fortify your business against legal and operational vulnerabilities, ensuring it remains "shatterproof." In this episode, you will learn:  Why Every Business Needs a Legal Foundation: Scott explains the importance of establishing legal protections early to avoid costly issues down the line. How to Shift Your Mindset on Legal Services: Discover how treating legal advice as a proactive resource, rather than a reactive one, can save you time and money. Strategies for Scaling with Confidence: Scott provides insights into building structures that support sustainable growth without exposing your business to unnecessary risks. The Power of the Profit First System in Business Stability: Learn how combining the Profit First system with solid legal foundations can improve financial health and longevity. Creating a Legacy Through Mindset and Leadership: With his Zig Ziglar background, Scott discusses how mindset is crucial for business growth and resilience, emphasizing the importance of continuous learning and self-improvement. Key Takeaways: Legal Structure is Essential for Growth: Scott shares why setting up your business with the right legal structures from the beginning protects it as it scales, reducing risks and safeguarding profitability. Proactive Legal Counsel: Scott challenges the typical view of lawyers as "emergency responders," presenting a model where legal advice is more akin to a primary care approach—an essential and ongoing part of your business planning. Mindset Drives Business Success: Embracing Zig Ziglar's principles, Scott highlights the "Be, Do, Have" philosophy, stressing that personal growth and mindset are foundational to achieving business goals. Practical Steps for Business Resilience: Scott’s "Shatterproof" approach includes strategies to address potential vulnerabilities in your operations, finances, and employee relationships. Profit First as a Business Backbone: Integrating Profit First principles ensures that businesses remain profitable, regardless of revenue fluctuations, providing a buffer during challenging times. Bio: Scott Reib, known as “America’s Legal Coach,” is the official Zig Ziglar Small Business Lawyer and a Ziglar Legacy Certified Trainer. For over 20 years, Scott has been instrumental in helping business owners, entrepreneurs, and coaches establish solid legal foundations through his firm, Reib Law, and his consulting platform, Shatterproof Solutions. Scott’s Access Plan, a subscription-based legal service, allows business owners to access affordable, proactive legal advice before crises arise. Scott is also the host of The Shatterproof Entrepreneur podcast and author of the upcoming book by the same title, aimed at helping business owners scale safely and sustainably. Links:  ReibLaw.com LinkedIn: in/TheScottReib X: @TheScottReib Facebook: /TheScottReib Podcast: TheShatterproofEntrepreneur Conclusion: Creating a shatterproof business is about more than just having a great product or service. Scott Reib emphasizes the importance of building a strong legal foundation, prioritizing personal growth, and embedding financial discipline through the Profit First methodology. His practical advice is a must-listen for any business owner looking to protect their business from unforeseen challenges and scale with confidence. Don’t miss this valuable discussion on The Profit Answer Man, where business security, growth, and profitability take center stage. For entrepreneurs who are eager to build not just a profitable, but a resilient business, Scott’s insights offer a roadmap to success. Listen in to learn how to fortify your business and set it up for long-term growth.   Hi, I’m the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! 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. #profitfirst

    37 min
  5. Making the Business of Home Building Profitable with Jose Berlanga

    26 NOV

    Making the Business of Home Building Profitable with Jose Berlanga

    Making the Business of Home Building Profitable with Jose Berlanga   In this episode of The Profit Answer Man, we have a fantastic guest, José Berlanga, a seasoned real estate entrepreneur who has successfully ventured into land development, residential construction, and investment properties. José shares his incredible journey from a reluctant start in real estate to becoming deeply involved in an industry that shaped his career over several decades. He dives deep into the nature of the real estate business, the complexities of cash flow, and why timing is everything when making business decisions.   In this episode, you will learn: The Realities of Cash-Intensive Businesses: José explains how the long cycles of real estate investments create both opportunities and challenges, with significant capital being tied up for extended periods. The Domino Effect in Real Estate Development: How one project often leads to another, creating a chain reaction that pulls entrepreneurs deeper into the industry. The Emotional Side of Business Timing: When business is booming, it’s hard to let go, but when it's struggling, it can be equally hard to exit. Why Real Estate is a Long-Term Game: José emphasizes that timing the market is challenging, and the cycles can be difficult to predict, but managing these cycles is essential to long-term success.   Key Takeaways: Cash-Flow Management is Critical: Real estate development ties up large amounts of capital for long periods, which means managing cash flow effectively is vital to sustaining the business. Market Timing is Unpredictable: Whether the market is booming or busting, it’s difficult to know when to pull out. Staying in too long can cost you, but leaving too soon might mean missing out on the next peak. The Pull of the Business: Once you start, it’s hard to get out, especially if multiple projects are in motion. This creates a domino effect where one project leads to another, keeping you deeply entrenched. Embrace the Long Game: Real estate is not a short-term venture; it’s a commitment that requires patience, persistence, and careful financial planning.   Bio José Miguel Berlanga, a successful entrepreneur from Mexico City, has spent over 35 years in various industries but made his mark in Houston's real estate sector. He co-founded Tricon Homes and is deeply involved in land development and property investment. Beyond real estate, José has an extensive background in business administration, economics, and philosophy, which has contributed to his success across multiple ventures. He is also a mentor and inspiration to budding entrepreneurs, sharing his vast experience and wisdom. You can learn more about José at his website here.   Conclusion Real estate may not have been José Berlanga’s original goal, but through decades of experience, he found his footing in this capital-intensive, long-cycle industry. His insights on cash flow, business cycles, and the pull of staying in business offer invaluable lessons for entrepreneurs in any field. Whether you're in real estate or another industry, the principles of managing cash flow and understanding market timing remain universal.   Links: Jose Berlanga https://joseberlanga.com/ LinkedIn:  https://www.linkedin.com/in/jose-berlanga-900a9518/ Amazon:  https://amzn.to/3ST0d9u   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    45 min
  6. Cash Is King with Peter W. Kingma

    19 NOV

    Cash Is King with Peter W. Kingma

    Cash Is King with Peter W. Kingma   In this episode of The Profit Answer Man, we sit down with Peter W. Kingma, author of CASH IS KING and leader of Ernst & Young LLP’s working capital practice in the Americas. With over 30 years of experience advising global companies on all things cash management, Peter joins us to discuss why cash flow is the true backbone of business success and how business owners can shift their focus from profit-and-loss statements to developing a “cash culture.” Peter provides actionable strategies for managing the five steps from order-to-cash, improving collections, and boosting cash flow through better customer management. We also dive into the importance of supply chain management and discuss how creating a “Cash Leadership Office” can transform the financial health of any organization. In this episode, you will learn: Why Building a Cash Culture is Essential: Peter explains why focusing solely on profit-and-loss statements can lead businesses astray, and how a cash-centered approach ensures long-term financial stability. The Order-to-Cash Process: Learn the five key steps in the order-to-cash process that businesses must optimize to maintain healthy cash flow and avoid liquidity crunches. Strategies for Effective Collections: Peter shares five tips for managing customer relationships and disputes to improve collections and cash conversion cycles. Supply Chain Management for Cash Flow: Discover how better supply chain management can keep your cash flowing smoothly, even during challenging economic times. Creating a Cash Leadership Office: How establishing a dedicated leadership team to focus on cash flow can enhance your bottom line and allow for sustainable business growth. Key Takeaways: Cash Over Profits: Even large companies struggle to manage cash effectively. Business owners must understand that cash flow is more critical than simply showing a profit. Sales ≠ Profit, and Profit ≠ Cash: Peter emphasizes that even profitable sales can be harmful if cash isn't collected on time. Businesses must prioritize cash flow management alongside sales and profit. Avoiding Cash Flow Pitfalls: Common mistakes, such as offering long payment terms or failing to consider the financial impact of customer service agreements, can cripple cash flow. Aligning Teams with Cash Goals: Often, sales teams are incentivized based on revenue, not cash collection. Aligning incentives with cash goals can prevent cash shortfalls and improve business sustainability. Bio: Peter W. Kingma is the author of CASH IS KING and leads the working capital practice for Ernst & Young LLP in the Americas. With over 30 years of experience advising global companies, Peter specializes in cash management and working capital strategies across industries such as manufacturing, consumer products, aerospace, and defense. He has contributed to publications like CFO Magazine and CNBC, and is passionate about helping businesses build a cash-centric culture. Conclusion: Cash is the lifeblood of any business, and without careful management, even the most successful organizations can run into trouble. In this episode, Peter Kingma provides valuable insights into how business owners, large or small, can develop a cash-focused mindset and manage their operations for long-term financial health. By implementing the strategies Peter outlines, you can ensure your business not only survives but thrives, no matter what economic challenges you face.   Links: https://peterkingma.com/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    43 min
  7. Getting PR for Pennies with Mickie Kennedy

    12 NOV

    Getting PR for Pennies with Mickie Kennedy

    Getting PR for Pennies with Mickie Kennedy   In today’s episode of The Profit Answer Man, we are joined by Mickie Kennedy, the founder of eReleases. Mickie brings over 25 years of experience helping small businesses and entrepreneurs increase their visibility and gain access to national media outlets through affordable press release services. From creative writing to mastering the art of the press release, Mickie shares how his journey led him to become an expert in public relations and how businesses can use press releases to grow their brand effectively. In this episode, you will learn: The evolution of press releases over the last 25 years and how media consumption has changed. How small businesses can use press releases to gain national attention at a fraction of the cost. The importance of telling compelling stories that capture media interest. How new media, like bloggers and influencers, play a pivotal role in today’s PR landscape. Key Takeaways: The Power of Storytelling in PR: Mickie explains how journalists are not just interested in raw data, but in the stories behind that data. A well-crafted narrative is what gets picked up by the media, helping businesses gain the exposure they seek. Affordability for Small Businesses: Mickie’s eReleases service was created with small businesses in mind, offering them the opportunity to get national distribution through PR Newswire without the exorbitant cost. He emphasizes the importance of making press release services accessible to businesses of all sizes. The Changing Media Landscape: Mickie highlights the shift from traditional journalists to new influencers, such as bloggers and Instagram personalities, showing how businesses can leverage these platforms for PR. Best Practices for Press Releases: According to Mickie, a successful press release is one that tells a unique story, resonates with the intended audience, and aligns with the brand’s goals. He also stresses the importance of targeting the right journalists and publications. About Mickie Kennedy: Mickie Kennedy is the founder of eReleases, a company that provides affordable press release services for small businesses, authors, and startups. With over 25 years in the industry, Mickie has helped countless businesses gain media exposure in major outlets such as The Wall Street Journal, CNN, and Bloomberg. He holds an MFA in Creative Writing from George Mason University and has a deep passion for storytelling. When he’s not crafting press releases, Mickie enjoys British science fiction and has a Monday night poetry group. He lives in Baltimore County with his family and two feuding cats. Conclusion: Whether you're a startup looking to gain media attention or a small business aiming to boost your brand, Mickie Kennedy’s insights into the world of press releases offer invaluable advice. By focusing on storytelling, targeting the right media, and understanding the modern PR landscape, you can harness the power of press releases to elevate your business. Be sure to tune in to the full episode to get all the expert strategies from Mickie Kennedy himself!   Links:  https://www.ereleases.com/plan/     Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    35 min
  8. Creating an Efficient Profit Monitoring System with Jason Kruger

    5 NOV

    Creating an Efficient Profit Monitoring System with Jason Kruger

    Creating an Efficient Profit Monitoring System with Jason Kruger   In today's episode of the Profit Answer Man, we are thrilled to have Jason Kruger, the founder and CEO of Signature Analytics, join us. With over 20 years of experience in accounting and business advisory, Jason shares valuable insights into how outsourced accounting and CFO advisory services can help business owners optimize profitability, improve financial processes, and make smarter decisions. In this episode, you will learn: Why understanding cash flow is critical for small and mid-sized businesses. How to assess the efficiency of your current accounting processes. Key strategies to ensure accurate financial reporting. The benefits of outsourcing accounting to achieve scalability and operational efficiency. Key Takeaways Cash Flow Clarity: Jason emphasizes the importance of cash flow management, especially for small and mid-sized businesses. "Cash flow is often the first pain point," he says. Without proper cash flow forecasting and management, businesses struggle, no matter how much revenue they generate. Efficient Accounting Processes: Business owners often don’t know if their accounting processes are efficient until they experience issues, such as poor cash flow or inaccurate reporting. Jason recommends creating a process that ensures monthly book closing and timely, accurate financial reporting. Outsourcing Accounting Services: For companies lacking the resources for a full in-house accounting team, outsourcing can provide the expertise needed without the costs of full-time employees. Jason explains how outsourced solutions can provide next-level financial insights at a fraction of the cost, allowing business owners to focus on growth. Focus on Reporting: Accurate financial reports are the foundation for strategic decision-making. Jason explains that outsourcing accounting services can ensure timely and consistent reporting, which is essential for tracking profitability and making informed decisions. Bio Jason Kruger, founder of Signature Analytics, is an expert in helping businesses make smarter financial decisions. With a background in public accounting, including nearly a decade at Deloitte, Jason brings a wealth of experience to his clients. Signature Analytics, under his leadership, offers outsourced accounting and CFO advisory services to small and mid-sized businesses, providing them with the tools and expertise typically reserved for larger companies. His mission is to help businesses improve their financial health and increase profitability by offering tailored accounting services. Signature Analytics has been recognized on the Inc. 5000 list for five consecutive years. Conclusion Whether you're struggling with cash flow management or simply looking to streamline your accounting processes, Jason Kruger provides practical strategies that can transform your business. By outsourcing accounting tasks and focusing on accurate financial reporting, business owners can not only save money but also drive profitability and scalability.   Links: https://signatureanalytics.com/ https://www.instagram.com/signatureanalytics/ https://www.facebook.com/SignatureAnalytics     Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com 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/ Profit First Toolkit: click here to sign up 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. #profitfirst

    41 min
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Hi, I'm the Profit Answer Man! The Profit Answer Man podcast is a weekly show hosted by Rocky Lalvani, a business coach and Certified Profit First Professional. In each episode, Rocky shares his expertise on how to increase profitability and cash flow for small businesses. Episode 1 is the why, 2 - is Mike Michalowicz, and 3-13 are Rocky's take on each chapter in the book. The Profit Answer Man podcast is designed for small business owners, entrepreneurs, and anyone else looking to improve their financial management skills. Rocky covers a wide range of topics, including how to prioritize profit, manage cash flow, and grow your business. One of the things that sets the Profit Answer Man podcast apart is Rocky's engaging and entertaining style. He uses anecdotes, humor, and relatable examples to make the concepts he's discussing easy to understand and apply. If you're a small business owner looking for practical advice on how to improve your financial management and increase profitability, the Profit Answer Man podcast is definitely worth a listen. Whether you're just starting out or have been in business for a while, you'll find plenty of valuable insights and tips that can help you take your business to the next level. Sign up to be notified when the next cohort of the Profit First Experience Course is available! http://bit.do/profitblueprint More about making profitability simple: http://profitcomesfirst.com/ Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

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