Just Figuring It Out

You're doing more revenue than you ever have. The P&L says you're profitable. And yet payroll week makes your stomach drop, tax season blindsides you, and you've quietly started stretching vendor terms from net 15 to net 45 to net 90.

In episode two of Just Figuring It Out, Will, Alex, and Ian dig into one of the most common and least talked about problems in small business: being profitable on paper and broke in the bank.

They cover:

• The three moments this problem usually surfaces (and why it's almost never on a random Tuesday)
• How cheap debt, EIDL money, and "easy" MCA offers act as a band-aid that hides the real issue for years
• Why percentages matter more than dollar amounts as you scale
• The "profit valley" — the stage where you've outgrown a lean team but haven't grown big enough to cover the overhead
• The hunter archetype: solving every financial problem with more activity
• What happens when your identity gets tied to year-over-year growth
• Ian's "and then what?" exercise for anyone who feels compelled to take action immediately
  

Plus, the guys pull back the curtain on their own scaling mistakes — including the decision to nearly triple ad spend, the hires they made because "the opportunity cost of not hiring was too high," and why they're grateful it didn't work out.

This one leans more philosophical than technical. If you want the mechanics of why your P&L and your bank account disagree, that's a future episode.

Want to go deeper?

We host workshops most months. Join the email list at ceofinanceacademy.com and we'll let you know when the next one is.

The podcast episode features a discussion among the founders of CEO Finance Academy, focusing on their journey, the challenges faced by small business owners, and the evolving landscape of talent acquisition and retention. The conversation delves into the importance of financial coaching, leadership, and the impact of personnel issues on businesses. The conversation covers the transition of a business coach to an owner, the importance of play budgets, the significance of understanding what you truly want in business, and the challenges of hiring and scaling a business. It also delves into the complexities of AI models and the need for practical usefulness.

Takeaways

• Small business owners need support in navigating their finances and leadership challenges.
• The changing priorities of employees, including flexibility, learning opportunities, and meaningful work, are shaping the talent acquisition landscape. Transitioning from a business coach to an owner involves navigating partner buy-in and facilitating play budgets for creative employees.
• Understanding what you truly want in business is crucial, and it's important to avoid chasing unprofitable jobs for the sake of growth.
• The challenges of hiring and scaling a business involve considerations of cash flow, capacity, and reserves, as well as the need for practical usefulness in AI models.

Chapters

• 00:00 Introduction and Podcast Overview
• 06:47 Challenges in Talent Acquisition and Retention
• 26:23 Challenges of Hiring and Scaling a Business
• 38:32 Exploring AI Models and Practical Usefulness