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Billie Anne Grigg, the Chief Strategic Guide for Profit First Professionals and Danielle delve into cash flow and explore the role of AI in the context of bookkeeping.. Lastly, they shift their focus to the concept of a "piece of the pie." This seemingly unrelated notion is profoundly relevant to businesses. The discussion underscores how companies often diversify beyond their core focus when they should engage complementary business professionals to serve the client. Metaphorically, the pie can and should be shared by all.

 

IN THIS EPISODE:

• [01:06] Why do we focus on cashflow projections with Profit First, and what is baseline selling
• [09:04] Working off the “process” of the Profit First plan
• [11:54] Ai can be beneficial but will not replace bookkeepers and accountants
• [20:17] Doing what you do best and collaborating with business owners who can provide complementary services to yours
• [24:28] How to access resources on the Profit First Nation website

 

KEY TAKEAWAYS: 

• You need to know your cash flow projection, but you also need Profit First. It’s not an either-or; it’s both.
• There is truth in the saying, “garbage in, garbage out.” So if you are using Ai, it must be set up correctly. However, Ai does not eliminate the need for an accountant or bookkeeper who can assess the financial situation.
• Trying to do every service for a client is a mistake. Stay with what you do well and find complementary businesses you can co-op with so everyone gets a piece of the pie.

 

GUEST BIOGRAPHY: Billie Anne Grigg

Billie Anne has been a bookkeeper since before the turn of the century. She is a QuickBooks Online ProAdvisor, LivePlan Expert Advisor, FreshBooks Certified Partner and a Mastery Level Certified Profit First Professional. She is also a guide for the Profit First Professionals organization. In 2012, she started Pocket Protector Bookkeeping, a virtual bookkeeping and managerial accounting service for small businesses.

Billie Anne Grigg - Linkedin

Pocket Protector Bookkeeping - Website

ABOUT THE HOSTS:

Danielle Mulvey is a former flight attendant-turned-entrepreneur and owns multiple businesses doing $50 million in annual revenue. She is one of the exclusive, select group of Mastery-Certified Profit First Professionals worldwide and the go-to “HOW TO IMPLEMENT” workshop facilitator for Profit First and WSJ Journal best-selling author Mike Michalowicz following his keynote speeches. Danielle is currently running multiple businesses, from start-ups to mature businesses with 10-year plus track records and revenues ranging from $1M to $40 million in annual revenues and is a certified numbers geek about Profit First, leveraging the DIY cash management system for small business to achieve maximum profitability. She can personally guide business owners to achieve maximum profitability based on her 25 years of experience as an entrepreneur who has been there and done that.

 

Additionally, Danielle authored the book The Rapid Read™ Guide to The 5-Star Employee Rating System™ and is currently collaborating with Wall Street Journal best-selling author Mike Michalowicz on his new book, to be released in Q1 2024, titled ALL IN: How Great Leaders Build Unstoppable Teams.

RESOURCES:

Danielle Mulvey - Website

Danielle Mulvey - Linkedin

The All In Company - Website

Profit First Nation - Website