What You'll Discover In This Episode:
Early on in my business during sessions with my clients, I learned that many if not most business owners do not have a foundational understanding of their business’ financial health. As we peeled back the layers of their business and workflow, I quickly determined that many of their issues with productivity and time management stemmed from not having that clear picture of their business’ financial health. After all, your financial health literally touches every aspect of the decision making in your business:
💭 Who do I hire?
💭 When can I hire?
💭 Who do I let go of?
💭 What is my pricing model?
💭 What am I going to spend the money on?
💭 What should I pay myself?
Without having a clear understanding of your finances, it’s difficult if not impossible to make those strategic decisions in the best interest of your business. It also makes managing your time and being productive more incredibly challenging because for instance, how can you hire a part-time virtual assistant to take some administrative duties off your plate and reclaim time if you don’t even know if you can afford one?
Almost every decision you make in your business should be tied back to where you are financially. If determining the financial health of your business is a challenge for you, there is nothing to be ashamed of. That’s why financial experts, advisors, fractional and virtual CFOs, CPAs, and the like exist. So, I encourage you to get the financial support you need, bridge that skill gap, feel more confident about your decision making, and take back control of your business finances.
In this episode of the Small Business Straight Talk Podcast, I sit down with the founder of Clara CFO Group, CPA Hannah Smolinski to discuss the financial support options available to business owners and break down ways to gain a better understanding of your business’ financial health so you can make the right strategic decisions to grow your business and increase your profitability.
Episode Links & Resources:
About Guest:
Hannah Smolinski is a virtual CFO agency providing small businesses with financial clarity and profit maximization strategies. Her experience working for one of the world’s largest accounting firms inspired her to make corporate expertise accessible to small business owners through fractional CFO services. She also hosts a YouTube channel with over 80,000 subscribers and uses the platform to help small businesses achieve financial success.
