Accounting Doesn’t Have to Suck | HVAC Business Finance Tips w/ Spencer Sheinin CPA
Service Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Release Date: 11/15/2023
Service Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- ---------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at the Real Masters 2025 event in Las Vegas, hosts Tersh Blissett and Josh Crouch sit down with Mike Venidis, Chief Experience Officer of RYNO Strategic Solutions, LLC. They discuss Mike’s inspiring journey from surviving a traumatic event to becoming a digital marketing leader in the home services...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- ------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at AHR 2025 in Orlando, hosts Tersh Blissett, Co-Founder and Chief Experience Officer at Trade Automation Pros, and Joshua Crouch the Founder of Relentless Digital Marketing Solutions, explore the use of AI and automation in the service industry. They discuss the complexities of integrating technology into...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit.No coding required! 👉 Enroll Today- ------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at the BDR Spark 2025 event, hosts Tersh Blissett and Joshua Crouch speak with Samantha Brazie, General Manager at Progressive Heating, Air and Plumbing. They explore the complexities of navigating the HVAC industry amidst the challenges of private equity acquisitions and maintaining a family-owned business...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- ------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, hosts Tersh Blissett and Joshua Crouch talk with Austin Helms, the Founding Partner of Halftime Rentals - Portable Toilets and the Founder of NuBlue Electric, Plumbing, and Air. They discuss the challenges of growing a service business and how to build a strong team. Austin shares simple ways to use technology to make work...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- ------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode of Service Business Mastery podcast, hosts Tersh Blissett and Joshua Crouch engage with Daniel Fuentes and Nikolai Matveev, founders of Cardinal Plumbing, Heating and Air. They look into the challenges of implementing online scheduling systems in a service business, covering everything from technological integration to...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- ------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at the Service World Expo 2024 in Orlando, Florida, hosts Tersh Blissett and Joshua Crouch engage with Joe Strittmatter, Former Owner, Strittmatter A/C, Heating & Plumbing, Former Regional President at Granite Comfort LP, and Brian Cohen, a business strategist specializing in HVAC transactions...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉 Enroll Today- —----------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at the Business Uncensored event in Chattanooga, Tennessee, hosts Tersh Blissett and Joshua Crouch talk with Matt Michel, a speaker, writer, and rancher at Ranchlands of Texas LLC, and Brandon Jacob, the Principal of Contractors Financial Opportunity LLC. They explore the challenges of selling a service...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Learn how to automate tasks, save time, and increase your profit. No coding required! 👉Enroll Today - ----------------------------------------------------------- Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this engaging episode, recorded at the Nexstar Event in Orlando, Florida, hosts Tersh Blissett and Joshua Crouch sit down with Kate Cinnamo, the Executive Director of Explore The Trades. Kate shares her expertise on the critical role of education and partnerships in the trades industry. They discuss the importance of...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, recorded live at Business Uncensored Event in Chattanooga, Tennessee. Hosts Tersh Blissett and Joshua Crouch are joined by Zac Garside, Founder of "Done-For-You Email Marketing." They explore the evolving landscape of email marketing within the Service Industry, addressing current trends, challenges, and the critical role of adapting email strategies to Market Changes. 📈🛠 Zac Garside shares expert insights on Improving operational efficiency through tailored email...
info_outlineService Business Mastery for Skilled Trades: HVAC, Plumbing & Electrical Home Service
Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, Recorded live at Business Uncensored 2024, hosts Tersh Blissett and Joshua Crouch sit down with Danielle Putnam and Suzanne Wedeven from The New Flat Rate team. They discuss industry trends, challenges, and the importance of pricing strategy adjustments to cope with market shifts. 📈🛠 Danielle and Suzanne share insights on enhancing operational efficiency through strategic price book updates and the benefits of coaching in navigating these changes. This...
info_outlineIf you are passionate about your skilled trades service business but struggle to see it grow, or if you're simply curious about running a successful service enterprise, this episode of the Service Business Mastery Podcast is for you!
In this episode, "Accounting Doesn't Have to Suck," hosts Tersh Blisset and Joshua Crouch engage with guest Spencer Sheinin, CEO and Founder of Shift Financial Insights, in a deep dive into the world of accounting, and how as daunting as it may appear, it doesn't have to suck!
They explore hiring problems often faced by small and medium-sized businesses and how hiring the wrong person for accounting can result in lost opportunities. They discuss the role of AI in bookkeeping, financial analysis, and how it may not necessarily be the ideal option for smaller businesses with unique scenarios.
Tersh, Josh, and Spencer inspire others with their personal stories of business finance, including Spencer's transformative shift in mindset towards numbers.
If you've ever been overwhelmed by financial statements, Spencer's take on using data visualization techniques for better understanding and data interpretation is a game-changer.
Also, make sure to look out for the invaluable advice from Sheinin's book, "Entreprenumbers," of which we are giving away copies after the interview. It's an absolute must-read for entrepreneurs looking to demystify their financials and gain the knowledge to make effective business decisions.
This episode is full of insights, practical advice, and money-saving tips for anyone in a service business. Don't miss out!
SHOW NOTES
01:59 Justin hosts giveaway and offers script for success.
04:11 Copeland offers valuable compressor diagnostics training.
08:58 Struggling to keep up, correcting formulas, light bulb moment.
12:20 Not a certified accountant. HVAC career started accidentally.
14:14 Accounting department struggles due to inadequate staffing.
17:15 Financials are backwards looking, but budgets and cash flows can be forward looking. Looking backwards helps identify what's not working and the root causes. The 80 20 rule applies to most problems. Understanding the right information helps identify issues like a 3% decrease in average margin.
20:14 AI accounting benefits big companies, not small.
24:16 Increase sales, decrease costs, analyze divisions.
26:01 Forward vs. backward analysis in HVAC operations.
30:46 Managing labor is crucial in every industry, particularly this industry. Analyzing labor as a percentage of sales can indicate if it's going in the wrong direction. Our brains process information visually, so financial information should be presented in pictures instead of letters and numbers. For example, when determining the current percentage of receivables, the accounts receivable aging report is commonly used.
34:27 Book version of tips/tools for implementation.
36:38 Great ideas shared with like-minded business coaches.
39:22 Impressive intro video. Tersh's amazing shoes.
Resources And People Mentioned:
Connect With Spencer on LinkedIn Here! Or check out his book’s website via entreprenumbers.com.
This episode is kindly sponsored by:
- Sera (visit their website)
- UpFrog (visit their website)
- Copeland (visit their website).
- CompanyCam (visit their website) Visit www.companycam.com/SBM and use code SBM for a free 2-week trial, 1:1 training and account setup, and 50% off your first two months!
- Interplay Learning (visit their website)
- Join the Service Business Mastery Facebook group
Affiliate Links:
- Castmagic - https://get.castmagic.io/SBM
- StreamYard - https://streamyard.com/pal/c/4524595769507840
- CallRail - https://partners.callrail.com/relentless-digital
- IfTTT- 10 Percent off! - https://ifttt.com/join?referral_code=BoERPHYVbCFE-C7okWNiClo3ygLafRze
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