Profit and Prosper

By Sarah Young

Welcome to Profit and Prosper, hosted by entrepreneur and mentor Sarah Young. This podcast is for women with service-based businesses who aspire to take home six figures or more without working around... more

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FAQs about Profit and Prosper:

How many episodes does Profit and Prosper have?

The podcast currently has 200 episodes available.

Profit and Prosper episodes:

August 11, 202229: Client Case Study | What We Did to Increase a Luxury Spa's Profit + Capacity
In this episode, I’m digging deep into a case study of a recent Cash Flow Intensive client. This luxury spa business was hitting the high six-figures in revenue, but they were not very profitable. The owner has goals of opening a second location and stepping back from the day-to-day to spend more time with her kids (a lot of us can relate!), so we took steps to untangle their financials and get clear on their numbers so we could set measurable goals that will majorly increase their profitability.
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
Cash Flow Intensive Service

Virtual 1:1 CFO Services
In this episode, you’ll learn:
Why it’s important to have good financial reports

Two important questions that I ask my clients to get clear on reporting

How I reorganized this client’s reports in order to help them quickly see if they were on or off track with their goals

How to categorize your sales into buckets to make needle-moving decisions in your business

Why you should have a financial scorecard and what KPIs you might include

The difference between a bookkeeper and a CFO (not knowing this could be costing you money!)
Some key takeaways from this case study include:
Having good financial reporting in place is key for maximizing your profit by knowing your numbers. It should be fast and easy for you to see how much money is coming in, and how much is going out each month.

It is so beneficial to categorize your sales into buckets in your accounting software! Categorize sales by the types of services and products you offer, so you can quickly see what services or product types are bringing in the most revenue, and what could be improved or cut altogether.

Create a scorecard to track your Key Performance Indicators (KPIs). These are the most important metrics you want to track and improve. Your KPIs might include sales by bucket, total expenses, gross profit margin, and utilization or capacity rate.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
34min
August 04, 202228: The Systems & Processes You Need for a Low Stress Business with Danielle Jefferson
Do you feel like you’re on a hamster wheel in your business, constantly hustling and stressing to hit your revenue goals? Our guest today is here to help. Danielle Jefferson is a Business Operations Coach and Consultant - and one of my clients! - with one of the lowest stress to revenue ratios I’ve ever seen. She helps thriving businesses get to the next level by optimizing how they run their backend processes and operations, and in this episode she’s sharing how she built her low stress business while maximizing her profits.
Connect with Danielle!
Website

Instagram

LinkedIn
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Some key takeaways from my interview with Danielle are:
Don’t give your clients a whole selection of service options. You’re the expert that’s providing a solution to their problem. Tell them which service is the best solution for them and let them trust you to guide them.

Figure out what the needle movers are in all contexts of your business. Reflect on what you’re doing in your business and what will move the needle towards your goals. It’s probably only 2 or 3 things, and these should be your top priorities.

Create programs and offers that can run without you. You might need a team to handle client delivery, or you might create a course or training materials your clients can follow without you.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
56min
July 28, 202227: Exit Strategies | How to Plan for Stepping Away From Your Business
I know you love your business and can’t imagine yourself ever stepping away from it, but there are lots of circumstances that might require you to do so. Maybe one day you’ll retire and want to stop working altogether, or maybe you’ll just want to move on to another business venture one day. In this episode, I’m sharing how to structure your business and plan to maximize your profits so you can confidently step away from it one day on your own terms.
Want to add an extra $50K to $100K to your profits over the next year? Check out my Cash Flow Intensive! Learn more at https://www.trustyoungco.com/intensive
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
Listen to Episode 23: Calculate Your Retirement Number
Some key takeaways on exit strategies are:
There are three main buckets of exit strategies: liquidating your business and shutting it down, becoming an investor in your business that collects profit but doesn’t run operations, and selling your business.

If you’re following strategy #2 and stepping into the investor/owner role, you need to have enough profit to pay someone else a CEO salary, and teams in place to run the business day-to-day. All of this takes time, but they allow you to keep your business open and still collect profits.

Selling your business can be a “net worth” event, meaning you can make hundreds of thousands or millions of dollars in one fell swoop and basically be set for life. How much you can sell your business for depends on your industry and earnings.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
31min
July 21, 202226: Tax Strategies That Will Save You Money, Time, and Stress (Without Doing Anything Sketchy)
Congratulations! You’ve made a profit in your business (go you!!), and therefore need to pay taxes. There are so many clickbait-y articles out there on “how to not owe any money on taxes this year” or “secrets billionaires use to avoid paying taxes,” and you might find that none of them are really helpful to you. In this episode, I’m sharing my best tax strategies that will save you money, time, and stress year round, but especially when tax time rolls around.
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Links mentioned:
Listen to Episode 20 (through 25!): Turning Your Business Cash Flow Into Wealth

Check out our Tax Concierge Service
A few of the many key takeaways from this episode are:
Overall, your focus should be on increasing and maximizing profitability, not on taxes. Learning more about tax deductions is great for financial literacy, but your focus is much better spent on increasing your profits. Hire a pro instead - you'll save yourself the stress of trying to get it right so you can focus on doing what you do best.

Clean up your books! Make sure your revenue isn’t being double counted, that your business and personal expenses are completely separate, and that you’re tracking all your expenses. This is free to do but so important!

Don’t rush to switch your business from an LLC to an S-Corp just for the tax deduction. If you’re not making at least $75,000 in bottom line profit, you are actually going to lose out on deductions you’d get as an LLC.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
42min
July 14, 202225: The Secret to How Millionaires Build Their Wealth with Financial Planner Kaitlyn Carlson
I haven’t been subtle about this: I’m extremely passionate about helping people build wealth with their businesses. We’ve covered tons of strategies in the last handful of episodes, you’re hearing from Kaitlyn Carlson, a Financial Planner to multi-millionaire (and a few billionaire) business owners and the Founder of Theory Planning Partners. She’s sharing her best strategies for building wealth no matter where you are in your business, the people you need on your financial success team, and how to choose a financial planner.
Theory Planning Partners is a boutique wealth creation firm that works with the top female entrepreneurs in America. We focus on helping women optimize the value of their business, build personal wealth, and leave a lasting legacy.
Website

LinkedIn

Instagram
Want to add an extra $50K to $100K to your profits over the next year? Check out my Cash Flow Intensive! Learn more at https://www.trustyoungco.com/intensive
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
Get my free retirement calculator training

Calculator Soup - Retirement Savings Calculator

XY Planning Network
Some key takeaways on wealth building with Kaitlyn include:
Phase I of wealth building is to figure out how much you need to save per month to hit your retirement goals. Use an online retirement calculator to see how much that is and make that your first financial goal when you start paying yourself.

Phase II is deciding if you’re going to build an enterprise business or a lifestyle business, and building your financial success team. This includes a CFO, Bookkeeper, an Account who is also a Tax Strategist, and a Financial Planner.

When you’re looking for a Financial Planner, make sure you hire someone who is a Certified Financial Planner (CFP), and who is working for a Registered Investment Advisor (RAI) as opposed to an insurance company.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
50min
July 07, 202224: How to Increase Your Net Worth
Saving, investing, paying down debt, buying real estate… There are SO many ways to increase your net worth, but where the heck do you start? Grab your notebook and a cold beverage, because we are going deep in today’s episode about how to build your net worth no matter where you are with your business today. If you’ve always been intimidated by the concept of increasing your net worth, this is the episode for you because I’m bringing you back to basics with clear next steps to follow.
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
What’s the next big financial move in your business? Take our free quiz to get three actionable steps in your wealth building journey!

Listen to Episode 20: Turning Your Business Cash Flow Into Wealth

Young + Co. Concierge Tax Service
Some key takeaways on increasing your net worth are:
Build up both a personal cash cushion and a business cash cushion. Your business cash cushion should cover at least 2-3 months of expenses, and your personal cushion should cover 6 months of living expenses.

Then, prioritize paying off high-interest debts first before investing or paying off low-interest debts. Those high interest loans are going to rack up a ton of interest over time, so the sooner you eliminate that liability, the better!

While it’s important to plan for retirement, don’t forget to consider investments you can access before retirement age if you need to or want to. Real estate, franchises, or digital products are a few examples that can generate income short term and long term with little to no effort from you.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
48min
June 30, 202223: Calculate Your Retirement Number + Make a Retirement Plan
Even if you can’t imagine a time when you wouldn’t want to be working in some capacity, you should still plan for a time when you might want to relax. Retirement doesn’t have to mean you don’t work, it just means you’ll have the time freedom and financial freedom for work to be optional. In this episode, I’m covering the basics of how to calculate how much you need to save for retirement so you can make a strong retirement plan - and start executing on it ASAP.
Want to add an extra $50K to $100K to your profits over the next year? Check out my Cash Flow Intensive! Learn more at https://www.trustyoungco.com/intensive
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Links mentioned:
Listen to Episode 21: Wealth Building Habits You Can Start implementing Today

Get my free retirement calculator training

Calculator Soup - Retirement Savings Calculator

Young + Co. Concierge Tax Service
Some key takeaways from this episode include:
First, ask yourself some essential questions: When do you want to retire? What is your net worth goal, and what’s the cash flow you need to cover your annual living expenses in retirement? What mix of assets do you want?

There are a few ways to calculate your retirement number. I have a free retirement calculator training you can watch, but there are also retirement schedules you can find online based on your age and annual cash flow goal. You can also follow the 4% rule, which I explain in this episode.

Until you have $1 million in assets… you do not need a financial planner. Most “financial planners” before that level are just life insurance sales people. You need someone who’s invested in your overall well being and not pushing a product on you.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
42min
June 23, 202222: Want to Create Impact, Change, and Legacy? You Need to Make Money First | Get Inspired with Kyle S. King
We’ve chatted extensively on the podcast about whether you can be rich and do good, and this episode should seal the deal once and for all. Kyle S. King is an entrepreneur, father, and changemaker who is doing some seriously incredible work for underserved communities, and it’s completely self-funded. In this episode, Kyle is sharing how he’s using the revenue generated from his business to make an impact and create lasting change. Get ready to take extensive notes and walk away feeling inspired.
Kyle S. King is one of the most sought after coaches in Charlotte, specializing in helping coaches, consultants, and speakers grow their business through leveraging a book. His company, The Writers Game, in 2020 assisted over 400 authors around the globe craft, publish, and profit from their stories generating over $3.2 million in collective revenue.
Connect with Kyle!
YouTube

LinkedIn

Instagram
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
Alex Hormozi on Instagram
Some key takeaways from this episode are:
It is much easier to maintain long term relationships with existing clients than to constantly hustle to find new clients. Focus on your client experience and delivering the best service possible and craft offers that keep your clients with you long term.

If you want to build wealth, become a better person. Develop strong core values that will help you assess business and financial decisions and clearly see if they bring you closer to your vision and purpose or further away from it.

In order to make an impact, you need capital. Money offers you the opportunity to invest in the experiences and vision you want to execute for any community or group of people you want to impact. Yes, you can offer your time, but huge impacts require resources that can be purchased with capital.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
53min
June 16, 202221: Wealth Building Habits You Can Start Implementing Today | Money Mindset, Investing Tips, Business Assets, & Retiring Early
Want to hear a secret? Building wealth doesn’t begin with a ton of cash in the bank or a seven figure business. It begins with tiny money habits that compound over time… literally. As a part of my wealth building series, I’m breaking down the habits you can implement ASAP to build wealth. From overcoming “Perfectionist Fantasies,” which I learned about from Kara Loewentheil on her podcast Unf*ck Your Brain, to which investment accounts to open up and start putting money into, this episode has everything you need to get started.
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Resources mentioned:
Listen to Unf*ck Your Brain Ep. 171: Perfectionist Fantasies + Tomorrow Thinking

Listen to Episode 3: How I Used My Profit Strategy to Blast Way Past $10K Months

Atomic Habits by James Clear

FXAIX Fidelity 500 Index Fund

The Psychology of Money by Morgan Housel
Some key takeaways on building habits for investing:
You do not need a 7-figure business to be wealthy. Thinking you need to hit a certain number in revenue in order to enact strong money habits is holding you back. Start building habits today with what you have.

Consider investing in an S&P 500 index fund. These index funds are medium risk investments based on the market that show great returns in the long run, which should be your ultimate goal when it comes to investing for your retirement.

Compound interest is the interest you earn on your investment earnings. If you leave your earnings (meaning the deposit you put into your investment account + the interest gained), you’ll earn interest on your interest, which results in your investment growing exponentially over time.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
35min
June 09, 202220: Turning Your Business Cash Flow Into Wealth
There are a lot of reasons why people start their own businesses, and one of them is building wealth for themselves. In this episode, I’m sharing how to turn the cash flow you’re generating in your business into wealth and net worth. From stabilizing your business to creating multiple streams of income, I’m covering all the steps here. In upcoming episodes, I’m going into a lot more detail about investing, so be sure to subscribe to the podcast to stay tuned!
Are you looking for more information on building wealth with your business? Sign up for my free email newsletter, Millionaire Mondays!
Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!
Links mentioned:
Listen to Episode 15: Calculating Your Baseline Revenue

Listen to Episode 6: My Spin on the Profit First Method
Some key takeaways on turning your business cash flow into net worth are:
Generating wealth using your business is a two-step process. Step 1: generate cash flow in your business. Step 2: invest that cash flow to build wealth. It might not be quite as easy as it sounds, but it really is that straightforward.

There are three stages of wealth building in your business: stabilize, protect, and invest. The goal is to work your way up to the “invest” phase, but you may bounce back and forth between these phases depending on the season you’re in your life and business.

How do you know if you have enough money to invest? If you are generating enough money to pay yourself consistently, you’ve set aside money for taxes, and you have a cash reserve built up in case of any “oh sh*t” moments, what’s left over is yours to invest.
I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
Instagram - https://www.instagram.com/youngcocfo/

Facebook - https://www.facebook.com/youngcocfo

YouTube - https://www.youtube.com/channel/UCO4wwwPKmuvCFh5NvVuwvnQ

Website - https://www.trustyoungco.com/
...more
31min

FAQs about Profit and Prosper:

How many episodes does Profit and Prosper have?

The podcast currently has 200 episodes available.