How most home service businesses are misled by CPAs with Kristen Deese

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Welcome to the Service Business Mastery Podcast!

Visit our website for more episodes and insights! https://www.servicebusinessmastery.com

In this episode, hosts Tersh Blissett and Josh Crouch chat with Kristen Deese, who is the Chief Financial Officer at The Virtual CFO for the Trades, Paradise Home Services, and AGS Installations, INC. Kristen shares how running home service businesses with her husband led her to help other owners understand their numbers. She explains why knowing the difference between a CPA and a CFO is key to making smart money moves. Kristen also talks about fixing cash flow issues, training teams on KPIs, and building profit the right way. Her simple advice helps business owners grow with confidence.

This talk covers key points like knowing your numbers, training your team to hit KPIs, and fixing cash flow problems early. Kristen shares why understanding the role of a CFO is so important and how better money habits help grow a strong business. She explains how owners can feel more confident by using clear financial reports and staying focused on real profits.

In this episode, here's what you can expect to learn: 

1. How Real-World Experience Wins: Kristen’s path from running service businesses to becoming a Virtual CFO.

2. Why Knowing Your Numbers Matters: Learn the power of reading reports and using them daily.

3. Fixing Cash Flow Problems: Kristen shares simple ways to avoid money mistakes that hurt growth.

4. The CFO vs CPA Difference: See why having the right financial help changes everything.

5. Tracking KPIs for Success: Learn how clear goals and simple tracking can grow your business fast.

Timestamps ⏰
00:00 - Recap of the Episode
02:56 - Meet Kristen Deese: From Trades to Virtual CFO for Home Services
06:40 - What Business Owners Don’t Know About Their Numbers
08:15 - CPA vs CFO: What’s the Real Difference?
11:21 - The Pain of Big Tax Bills and How to Avoid Them
17:02 - Cash Flow Mistakes and Profit First Struggles
18:15 - When to Hire a Bookkeeper, CPA, or CFO
22:20 - Avoid Negative CFOs and Keep the Right Perspective
24:51 - The Three Reports Every Business Owner Should Watch
30:51 - Why P&Ls Can Look Good but Bank Accounts Don’t
33:12 - Kristen’s Power Profit Workshop: What to Expect
36:31 - Teaching KPIs and Getting Teams to Hit Their Goals
37:45 - Working with Your Spouse: Lessons from Kristen and Tersh

If you enjoy the episode, please don’t hesitate to leave us a review (5 stars preferably 😉)

Links & References:

LinkedIn: 

• Kristen Deese

• The Virtual CFO of Trades

Website:

• Kristen Deese Personal Website

• Paradise Home Services

• AGS Installations INC

This episode is kindly sponsored by:

• Sera

• UpFrog

• CallRail

• CompanyCam Visit CompanyCam and use code SBM for a free 2-week trial, 1:1 training and account setup, and 50% off your first two months!

• MarketStorm

• Rilla

• Lace.ai

• Autobot.ai

• Avoca.ai

Connect with us!

• Tersh Blissett

• Josh Crouch

• Join the Service Business Mastery Facebook group for more updates!

• Visit our website: www.servicebusinessmastery.com

Affiliate links:

• Castmagic

• StreamYard

• IfTTT

• Zyra Talk