Keep What You Earn

Let's dive into the concept of core offer profit, which is essentially the profit derived from a specific product or service after direct costs are subtracted. She highlights the importance of understanding industry norms and calculating gross margin, providing actionable tips for both product-based and service-based businesses.

Shannon also offers insights on what to do if your core offer profit is too low and hints at what's coming in the next episode. Tune in for valuable strategies to boost your business's financial health and scalability.

What you'll hear in this episode:

[0:45] Unveiling the Profitable Scaling Playbook

[1:35] Understanding Core Offer Profit

[2:35] Calculating Costs for Product-Based Businesses

[4:25] Calculating Costs for Service-Based Businesses

[6:05] Evaluating Your Gross Margin

[7:50] Addressing Low Core Offer Profit

Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/

Connect with Shannon: https://www.linkedin.com/in/shannonweinstein

Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Follow along 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. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode Shannon introduces the Profitable Scaling Playbook, a comprehensive framework designed to help entrepreneurs and business owners build scalable, profitable businesses without costly mistakes. Shannon outlines the five core focus areas: core offer profit, operating profit, cash flow, customer value, and enterprise value. Dive deep into each component and learn how to measure success, unlock growth, and focus on what truly matters to elevate your business.

Whether you're at the stage of ensuring a profitable offer or looking to build enterprise value, this playbook offers actionable insights to enhance your financial performance. Tune in to get a high-level overview and prepare for an in-depth exploration of the Profitable Scaling Playbook throughout the month.

What you'll hear in this episode:

[0:45] The Goal: Scaling and Profitability

[2:35] Creating a Financial Operating System

[3:20] Introducing the Profitable Scaling Playbook

[5:30] Core Offer Profit: The Foundation

[6:40] Operating Profit: Is Your Business Profitable?

[7:50] Cash Flow: Beyond Profit

[8:55] Customer Value: Maximizing Sales

[10:55] Enterprise Value: Building a Sellable Business

[13:40] Conclusion and Upcoming Episodes

Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/

Connect with Shannon: https://www.linkedin.com/in/shannonweinstein

Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Follow along 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. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode, we will dive into the often-overlooked but critical topic of managing disputes and chargebacks. These financial leaks can quietly chip away at your profits if you're not prepared. Shannon is sharing tactical, actionable steps to build solid systems for handling refunds, disputes, and chargebacks with confidence. You'll hear why documenting everything is non-negotiable and how to compile strong evidence to support your case. We'll also talk about the importance of standing firm on your policies, because being generous doesn't mean being a doormat.

Tune in to learn how to protect your revenue and scale your business without leaving money on the table.

What you'll hear in this episode:

[0:45] The Impact of Small Leaks in Your Business

[1:50] Handling Disputes and Chargebacks

[3:50] Creating a Dispute Response Framework

[4:30] Real-Life Example of a Dispute

[8:10] Importance of Enforcing Policies

[11:25] Conclusion and Power Sessions

Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/

Connect with Shannon: https://www.linkedin.com/in/shannonweinstein

Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Follow along 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. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Shannon shares her transformative experience at the Acquisition.com scaling workshop. She discusses the critical need for business owners to hire individuals who are smarter and more skilled in specific areas to unlock growth and enterprise value. Shannon emphasizes the importance of moving from a control-centric mindset to empowering leaders within your organization, providing them with the tools and environment to succeed. Tune in to learn how this approach can propel your business forward, enhance team dynamics, and foster rapid, sustainable growth.

What you'll hear in this episode:

[0:45] Lessons from the Acquisition.com Workshop

[1:55] The Importance of Hiring Smarter

[3:30] Challenges of Delegating Control

[5:45] Empowering Leaders in Your Business

[7:30] Creating a Growth-Oriented Environment

[10:35] Conclusion and Cash Flow Management

Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/

Connect with Shannon: https://www.linkedin.com/in/shannonweinstein

Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Follow along 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. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Today's episode focuses on the significance of collecting W-9 forms from contractors and why it can save you time and avoid issues at year-end. We'll discuss the purpose of W-9s, how to effectively collect and manage them, and best practices for keeping your records organized. Ensuring you have up-to-date W-9s can streamline tax filing, prevent penalties, and protect your deductions during audits. Push play to tune in for actionable insights.

What You'll hear in this episode:

[00:45] The Importance of W-9 Forms

[01:50] Best Practices for Collecting W-9s

[05:45] Handling Resistance and Special Cases

[06:45] Maintaining and Updating Records

[08:30] Why It is Helpful to Get a W-9 from a Contractor who has an S-Corporation, Even Though They Do Not Get a 1099

If you like this episode, check out:

End-of-Year Financial Prep: Three Essential Steps for Business Owners

Hiring Contractors vs. Employees - Pros and Cons

Simple S Corp Salary Guide for Beginners

Want to learn more so you can earn more?

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 this episode, I dive into the types of businesses that are typically challenging to sell. We explore why businesses built on personal brands, online courses, and creative agencies often face hurdles in creating enterprise value. I also discuss the effect of low barriers to entry, lack of proprietary intellectual property, and the impact of AI on these industries. Additionally, I offer actionable advice on how to potentially turn these unsellable models into sellable ones by focusing on systematizing processes, creating recurring revenue streams, and building robust sales pipelines. Remember, if your goal isn't to sell, that's perfectly fine, but it's crucial to set realistic expectations and goals for the future of your business. What You'll hear in this episode: [00:45] Understanding Sellable vs. Unsellable Businesses [02:30] Challenges of Personal Brand Businesses [04:45] The Decline of Online Courses [07:40] Creative Agencies and AI Impact [10:55] Risks of Affiliate and Trend-Based Businesses If you like this episode, check out: How to Confidently Leave Your 9 to 5 and Embrace Entrepreneurship How Katie Savarise Built a Culture, Not Just a Brand How to Value a Business Want to learn more so you can earn more? 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 this episode, we dive into what it truly takes to scale your business to $1 million, $5 million, $10 million, and beyond. From building and relying on a capable team to evolving your role from a doer to a visionary leader, we cover the necessary steps and mindset shifts required for substantial growth. I'll also share practical advice on managing your calendar, focusing on strategic objectives, and creating a plan B for every major role in your company—including your own. Tune in to learn how to allocate your resources wisely, communicate your vision effectively, and ensure your business thrives without your constant involvement. Check out the show notes for more information on our Power Sessions and how we can create a profit plan that aligns with your personal goals for a successful 2025. What You'll hear in this episode: [00:45] The Evolution of a Business Owner [02:15] Building Teams and Systems [03:20] Shifting to a Visionary Role [04:25] Balancing Involvement and Delegation [06:00] Practical Steps to Evolve as an Owner [07:50] Preparing for Contingencies If you like this episode, check out: How to Scale Without Losing Margin Build Like You're Selling Stop Waiting and Start Scaling with Sam Vander Wielen Want to learn more so you can earn more? 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 this episode, I get into the critical topic of when not to sell your business. We'll explore various scenarios that indicate it's not the right time to exit, including emotional burnout and declining financials. I emphasize the importance of having a business that runs independently of you, and discuss the factors that can impact your business's valuation, such as employee satisfaction and dependency on key clients.

Additionally, I highlight the significance of solid financials, properly documented SOPs, and understanding market trends in mergers and acquisitions. Listen in as I provide actionable insights to help you make informed decisions and ensure your business is a valuable asset whether you decide to sell now or in the future. Don't miss out on practical tips to prepare your business for a profitable exit strategy in the years to come.

What You'll hear in this episode: [0:45] Preparing Your Business for Sale [1:35] When Not to Sell Your Business [3:05] Key Considerations Before Selling [4:25] The Importance of Founder Independence [7:35] External and Internal Factors in Selling [9:25] Planning for Post-Exit Life If you like this episode, check out: Build Like You're Selling When to Get a Business Valuation Done The Steps to Selling a Business

Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/

Connect with Shannon: https://www.linkedin.com/in/shannonweinstein

Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Follow along 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. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

In this episode, inspired by my experience at the Junior Achievement Steps for Success program, I dive into different cash management strategies for business owners. I cover the essential functions of checking and savings accounts, the benefits of having multiple accounts, and how to leverage high-yield savings accounts for tax savings. Additionally, I explore the options of investing through corporate brokerage accounts for the long-term growth of excess cash. Remember, while these insights are powerful, it's crucial to consult your financial professional before implementation. Tune in to gain actionable advice and keep your business finances in top shape. What You'll hear in this episode: [01:05] Understanding Different Bank Accounts [01:35] The Importance of Checking Accounts [02:40] Maximizing Savings Accounts [03:45] Liquidity Explained [05:15] Investing Excess Cash [06:20] Tax Benefits of Brokerage Accounts [07:45] Strategic Cash Management [09:00] Conclusion and Cash Flow Management If you like this episode, check out: Smart Cash Management for Business Owners Building Value in Your Business While Growing with Jill Simonds Exploring Alternative Investment Strategies with Fred Moskowitz Want to learn more so you can earn more? 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 this episode, I'm thrilled to reshare an episode from when I was a guest on the Rainmaker for Contractors Podcast. I share practical tax strategies specifically designed for businesses. We'll discuss how recent IRS changes might impact you, the importance of understanding your financial statements, and actionable tips to optimize your tax liability. We'll dig deep into why contractors might avoid their financials and how better cash flow management can drastically improve business health. Grab a notepad and prepare to transform your approach to managing your finances and taxes effectively! What You'll hear in this episode: [00:45] Guest Introduction: Shannon Weinstein [01:10] Shannon's Background and Career Journey 03:35] Common Financial Mistakes Contractors Make 04:45] Importance of Cash Flow Management [06:15] Proactive Tax Strategies for Business Owners [11:35] IRS Audits and What to Expect [16:25] Onboarding New Clients and Tax Optimization If you like this episode, check out: Why The Rich Pay No Taxes and You Feel Left Out Why You Need a Financial Storyteller A Cash Flow Reframe You May Need Check out the Rainmaker for Contractors Podcast https://podcasts.apple.com/us/podcast/rainmaker-for-contractors-podcast/id1547992713 Want to learn more so you can earn more? 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.