Keep What You Earn

Today, we're diving into a critical topic for entrepreneurs—creating a business partnership. While partnerships can be incredibly rewarding, they come with their own unique set of challenges and responsibilities that can make or break your business.

In this episode, we'll explore what a partnership truly entails, from the tax implications to the importance of aligning ownership with effort. I'll share insights on guaranteed payments, equitable profit distribution, and the potential pitfalls that can turn a promising partnership into a financial and emotional strain.

What you'll hear in this episode:

03:16 Challenges in determining fair and equitable payments.

08:01 Consider contracting service providers to manage operations.

12:11 Managing finances and responsibilities requires clear boundaries.

14:05 Roommates living separately, business entities, joint ventures.

17:47 Roommates trade chores and form magical partnerships.

If you like this episode, check out:

Why You May Not Want to Start a New Business

CFO Q&A - Naming Your Business

What Actually Happens If I Commingle Business and Personal Finances?

Want to learn more so you can earn more?

CFO Power Session: https://www.keepwhatyouearn.com/power-sessions

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today's episode dives deep into a topic that's crucial for anyone looking to improve their customer relationships and ultimately their bottom line. I'll be sharing three major pitfalls that can severely hinder your customer experience—pitfalls you might not even realize you're falling into. From ensuring a clear and timely sales process to creating user-friendly websites and effectively utilizing customer information, we'll cover actionable steps to elevate your business. This episode is packed with insights drawn from my extensive experience in customer service across various industries. So, whether you're a seasoned entrepreneur or just starting out, this episode has something for you.

What you'll hear in this episode:

04:44 Respond promptly to customer interest or risk loss.

09:28 Businesses not reading collected customer information, causing frustration.

10:29 Frustration with repeating personal information at appointments.

If you like this episode, check out:

How to Integrate Business Development Into Habits

Investing in Businesses - What You Need to Know

Pricing Blunders That Could Cost You Thousands

Want to learn more so you can earn more?

Transform your small business journey – download the Small Business $tarter Kit here.

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we dive deep into various cash management strategies to help your business grow its wealth. Whether you're curious about different types of bank accounts or wondering how to make your money work harder for you, this episode will offer insights into leveraging your cash, from checking and savings accounts to high-yield savings and brokerage accounts. Stick around for actionable advice on keeping your finances in top shape and optimizing your business's cash flow.

What you'll hear in this episode:

04:22 Understanding liquidity: how fast assets can convert.

08:10 Business owners can choose where to invest.

If you like this episode, check out:

What Makes Finding a Reliable Tax Professional So Challenging?

CFO Q&A: Should You Pay Off Loans with Extra Cash?

Best Practices to Collect Cash from Customers Faster

Want to learn more so you can earn more?

CFO Power Session: https://www.keepwhatyouearn.com/power-sessions

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we're diving deep into the world of franchising. Whether you're looking to franchise your own business or thinking about purchasing one, there's a lot to unpack. I've had numerous chats with franchise business owners and even the founder of Squeeze, Brittany Driscoll, to shed light on both sides of franchising. From the hefty upfront investments and cash flow management challenges to understanding royalty structures and benchmarking against other franchisees, this episode is packed with actionable insights to help you keep those profit margins high.

What you'll hear in this episode:

05:41 Understanding and managing franchise royalties and margins.

07:38 Franchising offers control, playbook, and quick growth.

If you like this episode, check out:

How to Integrate Business Development Into Habits

Investing in Businesses - What You Need to Know

Blue Oceans are All Around Us

Want to learn more so you can earn more?

Get $50 off your HR audit with People Principles by using code SHANNON50 here.

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today, we're diving into a transformative topic: Building a Business with an Exit Strategy in Mind. Even if selling your business seems like a distant thought, planning for its eventual sale can shape a more robust and self-sustaining enterprise. Join me, Shannon Weinstein, as I discuss the importance of creating sellable processes, establishing recurring revenue streams, and streamlining roles to ensure your business thrives even without you. Whether you're planning your exit strategy or just curious about the future, this episode will provide actionable insights to secure your business's legacy.

What you'll hear in this episode:

05:30 Limiting clients to provide attentive first-class service.

07:55 Focusing on small actions for future success.

If you like this episode, check out:

Breaking Down CFO On Demand

Stop Trying to Scale Everything

The Steps to Selling a Business

Want to learn more so you can earn more?

CFO On Demand click here

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today we're continuing our conversion with Brittany, who transitioned from marketing guru to entrepreneur with her innovative massage business, Squeeze, shares invaluable insights on making each customer feel special and valued. We discuss how integrating unique elements like champagne into traditional settings, such as tax offices, could redefine customer interactions. Brittany also dives into the importance of technology in personalizing customer service and how a human-centric approach has been key to her success.

Brittany Driscoll is the co-founder and Chief Executive Officer at Squeeze, which is dedicated to creating a better massage experience and brought to you from the founders of Drybar. She also Co-Founded and leads The Feel-Good Company, a service agency set out to transform the way people experience retail by building and scaling a collective of female-founded wellness brands dedicated to bettering the mind, body, and soul for good.

Brittany spent four years running marketing for Drybar where she helped take the company from $30M to more than $100M, and prior to that Brittany spent over a decade in marketing and advertising. As a female entrepreneur, cancer survivor, and wellness advocate, Brittany has a strong passion for supporting other women in business and has become a thought-leader in her community. She believes in speaking up for what you believe in, empowering people to use their voice, and that we all have the ability to change the world for good.

Instagram: https://www.instagram.com/brit_driscoll/

Website: https://www.squeezemassage.com/

What you'll hear in this episode:

03:59 Professional woman's vulnerability inspires others to succeed.

09:08 Reflecting on past, no regrets, shaped me.

13:17 Builder turned entrepreneur after encouragement from founders.

14:44 Passionate about massage therapy, focused on employees.

18:36 Business is about making people feel valued.

20:20 Company prioritized people, consulting work was devalued.

24:40 Emphasizing values and employee responsiveness for success.

26:37 Understanding principles of hospitality transcends specific industries.

If you like this episode, check out:

Breaking Down CFO On Demand

Stop Trying to Scale Everything

The Steps to Selling a Business

Want to learn more so you can earn more?

Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today's episode is particularly exciting as we're joined by Brittany Driscoll, the co-founder and CEO of Squeeze, an innovative massage franchise changing the way people experience wellness. Brittany will share her journey from her days with Drybar to launching Squeeze right on the cusp of the pandemic. We'll explore the challenges and victories of building a business during uncertain times and how Squeeze is revolutionizing customer service in the wellness industry through tech-driven, personalized experiences. Whether you're an aspiring entrepreneur or an experienced business owner, Brittany's insights on perseverance, leadership, and innovation are bound to inspire. So let's get started and dive into how Squeeze is not just growing as a business but nurturing community connections through wellness.

Brittany Driscoll is the co-founder and Chief Executive Officer at Squeeze, which is dedicated to creating a better massage experience and brought to you from the founders of Drybar. She also Co-Founded and leads The Feel-Good Company, a service agency set out to transform the way people experience retail by building and scaling a collective of female-founded wellness brands dedicated to bettering the mind, body, and soul for good.

Brittany spent four years running marketing for Drybar where she helped take the company from $30M to more than $100M, and prior to that Brittany spent over a decade in marketing and advertising. As a female entrepreneur, cancer survivor, and wellness advocate, Brittany has a strong passion for supporting other women in business and has become a thought-leader in her community. She believes in speaking up for what you believe in, empowering people to use their voice, and that we all have the ability to change the world for good.

Instagram: https://www.instagram.com/brit_driscoll/

Website: https://www.squeezemassage.com/

What you'll hear in this episode:

06:35 Passionate about bettering communities through massage.

09:36 Team bonding leads to gratitude and uplift.

12:32 Franchisor maintains brand standards, franchisees execute. Common in health and wellness industry.

16:28 Creating brand focused on guest and employee experience.

19:06 Visited France, Canada, Mexico, Spain, Australia, development.

If you like this episode, check out:

Breaking Down CFO On Demand

Stop Trying to Scale Everything

The Steps to Selling a Business

Want to learn more so you can earn more?

Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we're diving into one of the less talked about aspects of tax deductions: depreciation, and specifically, depreciation recapture. We'll unravel the intricacies of bonus depreciation and Section 179, and reveal why these strategies might seem like tax eliminators but are often just tax deferrals. Plus, you'll learn how selling your business assets can lead to unexpected tax consequences. Stay tuned for actionable tips on how to navigate these financial nuances and safeguard your business's wealth.

What you'll hear in this episode:

05:21 Consult tax advisor before selling business or assets.

07:26 Foundational business resources for successful startup.

If you like this episode, check out:

Should I Hire a Tax Strategist?

How to Read Your Tax Return

S Corp Salary Explained Like a 3rd Grader

Want to learn more so you can earn more?

Transform your small business journey – download the Small Business $tarter Kit here.

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we'll be tackling a crucial topic for those of you who have transitioned from being employees to becoming self-employed or small business owners—deducting self-employed health insurance premiums. Navigating the intricacies of health insurance as an entrepreneur can be daunting, especially when it comes to tax deductions. We'll break down everything you need to know, whether you're a sole proprietor, single-member LLC, or operate under an S corporation or C corporation. From understanding where to report your premiums on your tax return to making sure you get the maximum deduction, this episode is packed with actionable insights.

What you'll hear in this episode:

04:45 Use an accountable plan for business reimbursements.

07:46 Filing through corporation saves on taxes.

If you like this episode, check out:

Should I Hire a Tax Strategist?

How to Read Your Tax Return

S Corp Salary Explained Like a 3rd Grader

Want to learn more so you can earn more?

Join Gusto today and get a $100 Visa Gift Card

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today's episode features Shannon on The Ultra Life Podcast, hosted by Samantha Nivens. Shannon shares her transformative journey from corporate America to entrepreneurial success, starting with her surprising introduction to accounting, pivoted by a bet with her father. Discover how pivotal moments, including personal challenges and a significant bereavement leave, influenced her career path and led her to embrace her true calling in simplifying finances for entrepreneurs.

What you'll hear in this episode:

04:10 Became accountant after losing a bet with dad.

09:43 Emphasizing importance of addressing personal challenges quickly.

12:54 Embracing metrics, finding meaning in progress.

15:11 Dad stopped giving money, worked at McDonald's.

21:24 Navigating midlife changes, self-discovery, and societal expectations.

29:06 Encouraging individual freedom and self-permission.

30:29 Earn choices with his guiding directions reluctantly.

35:17 Permission and support are powerful for growth.

39:33 Accountants mostly interacted with people in their field.

45:04 Entrepreneurship should be about enjoying the journey.

46:37 Life and business challenges while being mom.

49:37 Emphasizing real-life balance while building successful business.

53:37 Focus on customer desires, not personal preferences.

If you like this episode, check out:

Who Do I Ask?

Compensation Plans - Commission or Flat Rate?

Is Hiring Your Family the Right Thing to Do?

Want to learn more so you can earn more?

CFO Power Session: https://www.keepwhatyouearn.com/power-sessions

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.