Today, Shannon explores the transformative power of relationships in business. Fresh from her inspiring trip to Laguna Beach, Shannon shares insights gained from interactions with notable entrepreneurs like Jeff Fenster and David Norrie. Listeners will learn about the concept of relationship capital and its significance, along with practical advice on authentically connecting with others and the importance of making deposits and withdrawals in one’s professional network. The episode also...

In this episode, we chat with TJ Slattery, founder of Crowsnest Consulting. Together, we dive into the essentials of scaling your business wisely, highlighting thoughtful analysis, organizational changes, and delegation.  Using the "underpants gnomes" analogy, we explain the risks of missing crucial planning steps. TJ also breaks down the importance of pro forma financial forecasts and their operational impacts. Tune in for actionable insights and real-world advice to help align your...

In this episode, Shannon explores the pivotal role of risk-taking in building a sustainable and valuable business. She discusses the delicate balance between withdrawing cash flow for immediate needs and investing for long-term growth. With her personal reflections and actionable advice, this episode is essential for entrepreneurs at every stage. Tune in to discover how embracing risk can lead to greater success.    What you'll hear in this episode:  03:59 Harvesting reduces value, like...

Today, we're thrilled to share an insightful episode featuring Shannon’s appearance on the “She Believed She Could” podcast with host Allison Walsh. Shannon dives deep into her journey, from her initial inspiration to become an accountant to the valuable services she offers through her company. She shares practical tips on avoiding financial pitfalls, the importance of proactive tax planning, and how entrepreneurs can retain more of their hard-earned money. Allison and Shannon discuss the...

In today's episode, Shannon dives into a topic near and dear to her heart—boosting your business with top-notch client care. Drawing from her extensive background in customer service, which spans from McDonald's to Big Four firms to software companies, Shannon has firsthand experience in the power of excellent client interactions. This episode takes listeners through three critical aspects of client care that can make or break a business: having a clear proposal process, ensuring a...

Today, Shannon delves into non-traditional cash management strategies for business owners. Inspired by Shannon's experience at the Junior Achievement Steps for Success program, the episode explores various bank accounts and answers the question: "What do I do with my cash if it's just sitting in the bank?" Listeners will learn about checking and savings accounts, high-yield savings accounts, and even corporate brokerage accounts.    What you'll hear in this episode:  05:33 High yield...

In today's episode, host Shannon Weinstein shares a special replay of her recent appearance on the "Earn & Invest" podcast hosted by Jordan Grumet, also known as Doc G.    During their conversation, Shannon discusses her entrepreneurial journey, offering advice for new business owners on building confidence and adjusting pricing gradually. She also addresses the emotional challenges of entrepreneurship, such as loneliness and the need for self-discipline.    Listeners will...

In today's episode, Shannon uncovers the "Silent Business Killer"—complacency. Drawing insights from her experiences as a fractional CFO, Shannon explores how getting too comfortable can hinder a business's potential, the importance of tracking performance metrics like revenue by employee, and how to stay proactive in optimizing operations. Get ready for actionable strategies that ensure businesses thrive by maintaining a critical eye on performance and making intentional growth decisions. ...

In this episode, Shannon discusses the essential phases of selling a business. She breaks down four critical stages—from making an offer and conducting due diligence, to performing a valuation and transition planning. Drawing from personal experience, Shannon offers valuable insights to help entrepreneurs navigate the complex process of selling their business smoothly and profitably. Tune in for a comprehensive guide on what to expect and how to prepare for a successful business sale. What...

Today, Shannon welcomes Michael Zipursky, an expert in helping consultants build successful businesses. They explore how consultants can package and price their services effectively.   Michael discusses the power of productization and how creating structured, repeatable solutions can save time and increase profitability. They also address the issue of scope creep and share strategies for maintaining clear boundaries with clients.   Listeners will gain insights into scaling their...

In today's episode, Shannon dives deep into the three major risks that can significantly impact any business. She explores the dangers of over-reliance on the owner, the pitfalls of over-concentration on particular clients, and the importance of being prepared for external market and industry risks. Get ready for practical advice that will help safeguard and grow your business. Remember, the insights shared are for educational purposes and not individual tax advice.   What you'll hear in...

In this episode, Shannon breaks down the essentials of valuing a business. She explains that a business’s worth goes beyond the numbers in the bank and dives into the importance of cash flow projections and managing risk.   Shannon emphasizes how the perception of a business's value can often outweigh complex financial formulas. She highlights the key factors that make a business enticing to buyers, from the certainty of income to minimizing risks. Whether looking to sell or just enhance...

Today, Shannon demystifies the intimidating process of IRS audits. Many fear audits, worrying about severe consequences like jail time, but Shannon is here to debunk these myths.   Using relatable analogies and real-world examples, she explains why audits are not as terrifying as they seem and clarifies the true role of IRS agents. Whether you're a seasoned entrepreneur or just starting out, this episode provides valuable insights and practical tips, empowering you to handle audits with...

In today’s episode, Shannon dives deep into a crucial yet often overlooked aspect of business growth: authentic hiring. As the year wraps up and tax season approaches, the hiring landscape is more competitive than ever. Shannon shares strategies on how to showcase a company’s values in job descriptions, why it’s essential to market job posts effectively, and offers insider tips on attracting top talent. Whether you’re looking to hire bookkeepers, tax professionals, or media personnel, this...

In this episode, host Shannon Weinstein chats with Jill Simonds from Savvy Strategic Partners about building value while growing a business.   They cover the importance of human and social capital, efficient processes, and maintaining company values to ensure customer loyalty and retention. Jill offers strategies on mitigating risks, strategic partnerships, and the significance of a strong business culture. By the end, listeners will gain insights into institutionalizing intellectual...

In this episode, Shannon speaks with Jill Simonds, founder and CEO of Savvy Strategic Partners, to explore the role and benefits of fractional C-suite executives. They discuss how part-time executive talent can optimize operations, enhance enterprise value, and ensure smoother business scalability.   Listeners will gain insights into effective task prioritization, the importance of Standard Operating Procedures (SOPs), and minimizing founder dependency. Jill and Shannon also delve into...

In this episode, Shannon delves into the critical lesson for business owners about positioning themselves as the director of their business, rather than its lead actor. Through an insightful analogy, Shannon explains why building robust systems should take precedence over putting oneself front and center. She explores the essential transition from a hands-on role to a more strategic one, necessary for long-term success. Additionally, Shannon shares practical tips on balancing brand building...

Today’s episode dives into an often-overlooked but crucial aspect of running a successful business: creative employee benefits. Shannon shares innovative and nontraditional benefits that not only attract top talent but also foster a healthy, happy, and engaged workforce. From personal development reimbursements to charitable donation matches and a unique "just because" budget, these ideas can help build a company culture that aligns with core values and supports the team's overall well-being....

In this episode Shannon focuses on essential year-end financial tasks for business owners. As the year winds down, Shannon provides valuable insights into three crucial steps: catching up on bookkeeping, securing a tax professional, and organizing vendor expenses. While these steps may seem small, they can significantly reduce stress and set up listeners for success in the upcoming year. These actionable tips promise to be game changers for financial wellness as the new year approaches. Join...

In today's episode, Shannon dives into a topic that many business owners find challenging—sales. For those who break out in a cold sweat at the thought of selling, this episode offers relief. Shannon explores how to increase revenue without the dreaded sales struggle, offering practical strategies for upselling existing clients, leveraging partnerships, and optimizing lead sources. These insights aim to drive businesses forward without the constant battle of acquiring new customers. So, sit...

Today’s episode is a bit different—we’re sharing an insightful discussion from my guest appearance on "The Action Academy" podcast, hosted by Brian Luebben.   In this episode, Brian and I dive into my journey of transforming my business from basic bookkeeping to offering high-value, relationship-focused "fractional CFO" services. We discuss the importance of cultivating deeper client relationships, strategic pricing, and the shift from a high-volume to a high-value business model. I also...

Today, Shannon shares her valuable strategies for overcoming periods of feeling stuck or unmotivated in the entrepreneurial journey. Drawing from her six years of experience, Shannon offers practical advice on reassessing calendars, prioritizing time, and creating efficient workflows to help business owners reignite their passion and drive. Whether you're a seasoned entrepreneur or just starting out, this episode provides actionable insights to shed layers of stagnation and move forward with...

In today's episode, Shannon dives deep into the dynamics of managing a business partnership. Drawing from extensive experience, Shannon discusses the critical aspects of forming and maintaining a successful partnership—from the importance of identifying the strengths and weaknesses of each partner to setting clear expectations and crafting a solid partnership agreement. Shannon highlights that, much like a marriage, a business partnership is a serious commitment that requires careful planning...

In today's episode, Shannon dives deep into the concept of crafting a profit plan that truly drives your business forward. We're going beyond the old-school notion of restrictive budgeting and embracing a strategy that aligns your spending with your business goals. Inspired by Mike Michalowicz's Profit First methodology, Shannon will break down how you can allocate your finances into key buckets—like personnel, operations, and client acquisition—to ensure your money is working as hard as you...