In this episode of Techtastic, we examine the world of entrepreneurship and business strategy with Colin Sanburg, the founder of finelevate.com. Colin shares his experience with the critical importance of financial understanding in business, highlighting the need to think in percentages and the power of being in the driver’s seat of decision-making. We explore the concepts of resilience, continuous learning, and the dynamic nature of business as an ever-evolving puzzle. Through his journey from manufacturing to financial consultancy, Colin imparts valuable advice for entrepreneurs on capitalization, budget management, and the mindset required to thrive in the competitive world of startups.

(0:00) Introduction to Techtastic and guest Colin Sanburg

(1:31) Challenges and necessities in business finance and adaptability

(4:05) Knowing when to quit and the value of self-belief

(6:41) The life cycle of a company and innovation challenges

(8:16) Transitioning to a financial services business: FinElevate.com

(11:38) Overcoming self-imposed limitations and entrepreneurial mindset

(13:05) Increasing profitability through strategic financial management

(14:47) Innovative business models and the Walmart model

(16:18) Understanding financials and profit percentages in tech startups

(17:50) Reaching out for business advice and closing remarks