Discover the step-by-step process to gain control over your business finances and eliminate stress for good.
Join Matt and Chris Reynolds on the Build Your Business Podcast, powered by TurnKey Coach, as they share actionable insights to help business owners move from fear to freedom. This episode dives into the essentials of bootstrapping, getting lean, and managing business finances for a profitable 2025. From practical budgeting tips to leveraging Profit First strategies, learn how to optimize your expenses, maximize revenue, and gain control over your financial future. Don’t miss this valuable conversation!
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*TIMESTAMPS:*
00:00 - Introduction
00:12 - Meet Matt and Chris Reynolds
00:27 - Returning from Mexico and Christmas Reflections
01:03 - Bootstrapping and Starting Lean Recap
01:20 - Transitioning into 2025 Budgeting
01:52 - Understanding Business Finances
03:09 - Importance of Financial Dashboards
06:00 - Key Accounting Terms Explained
10:40 - Gross Margin vs. Net Margin
15:00 - Introducing Profit First Method
20:00 - Allocating Revenue with Sub-Accounts
25:30 - Increasing Profit Percentages
29:50 - Strategies for Cutting Expenses
34:00 - Negotiating Costs and Raising Prices
40:50 - Managing Payroll Effectively
47:00 - Separating Business and Personal Finances
52:15 - Leveraging Tax Deductions
56:00 - Using QuickBooks for Financial Tracking
1:02:00 - Actionable Tips to Get Lean
1:07:00 - Closing Remarks and Next Steps
#BusinessGrowthTips #ProfitFirstStrategy #SmallBusinessFinance
Get Lean! Mastering Financial Management for Business Owners
Теги
business growth tipsprofit first strategysmall business financebootstrapping for startupsmanaging business expensesincreasing profit marginsunderstanding gross marginsmall business budgetingfinancial management for entrepreneurseffective cost-cutting strategiesnegotiating business expensescash flow managementseparating business and personal financestax planning for small businessesusing QuickBooks for businessmaximizing revenue growth