Although accounting may not seem like the most exciting part of running a business, if you properly understand your finances and take the time to put a financial plan in place, you will be doing yourself an enormous favor. Tune in today to hear Melissa Houston’s take on the importance of overcoming your financial fears and taking control of your finances as an entrepreneur! 

About Melissa Houston:

As the founder of The Fractional CFO Agency, Melissa’s ultimate goal is to help business owners understand their businesses’ financial side so they can create more profit and live financially secure lives. She is also the host of the She Means Profit podcast and a columnist for large publications, including Forbes. 

Melissa Houston empowers entrepreneurs with her book, “Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business.” This book offers a clear, step-by-step framework and practical insights on money management, equipping readers with the knowledge and tools they need to become financially savvy and achieve business success.

For a comprehensive book review, check out this page.

Episode highlights:

• Most people don’t think of accounting as something that is going to generate revenue, but 82% of businesses fail due to financial mismanagement. To ensure that you don’t become part of this statistic, optimize profit as early as possible by putting sustainable financial management systems in place. (04:53)
• Fear and overwhelm are common emotions that people experience when it comes to looking at their finances. But when you take the emotion out of it, you will unlock the ability to use your money as a tool to your advantage. Your financial information should never be a source of shame. It is just data; treat it as such. (12:20)
• As a business leader, every decision you make has consequences for your bottom line. Knowing your numbers will increase your confidence and ability to make decisions that positively impact your company. (15:10)
• If you want to succeed as an entrepreneur, get clients in the door! There’s no secret to it and no tricks that will get you there faster. Overnight success is a myth; it takes hard work to achieve big goals (15:46)
• “Finance is the backbone of a business.” You’ll be lost if you don’t understand how your business works from a financial standpoint. Success lies in understanding the numbers, so it’s time to get learning! (20:06)

Melissa’s best advice for entrepreneurs:

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