The Key Financial Metrics Every Business Owner Should Know with Brad Ebenhoeh
Beyond 7 Figures: Build, Scale, Profit
Release Date: 10/04/2024
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info_outlineLearn to Manage Cash Flow, Accrual Accounting, and Profitability for Smarter Growth
In today’s episode, we dive into the importance of mastering your business's financials to make smarter, more informed decisions. We'll explore key areas like cash flow management, accrual accounting, and profitability tracking, all of which play a vital role in ensuring long-term success and financial health. Whether you're an entrepreneur navigating large contracts or a small business owner trying to optimize project efficiency, understanding your numbers is essential to staying ahead and growing your business sustainably.
Our guest, Brad Ebenhoeh, is the founder of Accountfully, a modern outsourced accounting firm that caters to innovative brands and businesses. Leaving behind the corporate world of suits and ties, Brad embraced a fresh approach to accounting one that integrates technology and emphasizes a strong work-life balance. Through his forward-thinking leadership, Brad has transformed accounting into a dynamic, client-focused service, proving that financial management can be as exciting and impactful as the creative brands he partners with.
Coming up on this episode:
- Understanding and tracking your business’s financial numbers is crucial to making informed decisions and avoiding costly mistakes.
- Accrual accounting provides a clearer picture of financial health by matching revenues and expenses accurately over time.
- Cash flow management is essential, especially when dealing with large clients or extended payment terms to prevent business disruptions.
- Building strong partnerships and referral networks can significantly boost client acquisition and business growth.
- Regularly reviewing project profitability and labor utilization helps ensure efficient operations and maximizes profits.
All this and more, on this week’s episode of Beyond 7 Figures.
Stay tuned next week, so don’t forget to subscribe to the show to get that episode as soon it gets released. Until then, be profitable.