Episodes
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“If you could only look at six numbers, here's the most important ones for you to keep an eye on. They're going to help you understand the health of your business and how things are going in relation to where you are and the activities that your business is undergoing to get you to that end result of what it is that you are trying to achieve with the business."
- Andrea Jenson
Welcome back to a new episode of the Cash Flow CFO Podcast! Today, we're diving deep into the six key numbers every business owner should focus on at the end of each month. These metrics are crucial for understanding the health of your business, and I want to make sure you know exactly what to look for. We’ll break down each number so that you can confidently review your financial reports and make informed decisions.
Join us to learn the whole story!
“There are some crazy statistics out there that nearly 30% of the businesses that go under do so because of cash flow problems, and the number one source of cash flow problems generally leads back to a bad business model and too high of a percentage of cost of goods sold."
- Andrea Jenson
By focusing on these six metrics, you'll have a comprehensive view of your business's financial health. They’ll help you make informed decisions, adjust strategies as needed, and ultimately steer your business toward success. So, take some time each month to review these numbers, and you'll be well on your way to running a thriving business.
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"Having a healthy accounts receivable is really going to keep the business self-sustained, relying on their own cash flow that's being generated from sales and delivery without having to go out to outside resources."
- Andrea Jenson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me for a conversation about an issue that's been cropping up a lot lately... slowdowns with accounts receivable. If you're noticing a delay in your receivables, it's crucial to address it before it impacts your cash flow and ability to meet financial obligations. I discuss some actionable strategies you can implement right now to help get your cash flow back on track and keep your business self-sustaining.
Join me to learn the whole story!
"When you have a prolonged accounts receivable problem, it's going to catch up with you and eventually it could potentially damage your credit ratings and increase the cost of borrowing money down the road."
- Andrea Jenson
Identifying Root Causes and Prioritizing Receivables
Both external factors, like economic downturns, and internal inefficiencies can cause delays in getting paid. I share the importance of identifying the root causes of these delays and how to prioritize your receivables to collect on high-value invoices first. Additionally, I highlight the significance of maintaining open and personal communication with your clients, which can help facilitate faster payments and strengthen your working relationships.
Optimizing Internal Processes
Once you've addressed immediate receivables issues, it's essential to optimize your internal processes to prevent future delays. From improving invoicing timelines to implementing automated systems, I cover practical steps you can take to tighten up your accounts receivable management. And beyond that, I emphasize the importance of clear contract terms and creditworthiness checks to ensure you're extending credit to reliable clients.
Proactive Communication
I also encourage you to be proactive in reaching out to clients with outstanding invoices. Most delays aren't due to malice but simple issues that can be resolved with a quick conversation. By staying on top of your receivables and fostering transparent communication, you can avoid cash flow problems and keep your business running smoothly. If you need more specific advice or templates, feel free to reach out—I'm here to help!
"If your team is doing that confirmation check-in to make sure that the client received the invoice, they can also be saying, 'We also want to make sure that there's accuracy and we're clear on the terms.'"
- Andrea Jenson
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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Missing episodes?
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“Having a plan in place is what removes the stress and the worry and the weight of managing your finances because otherwise we’re kind of just throwing spaghetti at the wall to see what sticks."
- Andrea Jenson
Welcome back to a brand new episode of the Cash Flow CFO Podcast! In today’s solo episode, I’m excited to talk about a discovery call I had with a potential client that reignited my passion for what we do at The Cashflow CFO. During our conversation, I had a light bulb moment about the common frustrations business owners face when it comes to making financial decisions. Despite having a CPA and a bookkeeper, many still feel like they’re in the dark, unsure how to use their financial data to guide their business.
Join us to learn the whole story!
“Everybody in your finance division has a role to play... and most business owners, they have the bookkeeper, they have the tax preparer, the CPA, and they’re still saying, ‘I’m missing something.’"
- Andrea Jenson
The Importance of Forward-Looking Planning Tools
The key issue we discussed was the difference between historical financial reports and forward-looking planning tools. Many business owners rely on their profit and loss statements, balance sheets, and cash flow statements, but these documents are backward-looking and don’t help much in planning future moves. What’s missing is a strategic plan that includes forecasting, sales projections, and a clear understanding of where you want your business to be in the next one, three, or five years.
Planning Ahead for Business Growth
We also talked about the importance of knowing your sales pipeline and understanding your sales conversion rate. By planning ahead, you can ensure that you have the right team and resources in place to handle future business. This kind of strategic planning removes the stress and guesswork from managing your finances, helping you to make informed decisions about hiring, investing, and scaling your business.
Allocating Revenue for Success
Finally, I walked him through how to allocate revenue into different budget categories, like cost of goods sold, marketing, general and administrative expenses, and profit. This approach helps ensure that you’re a good steward of your business’s money while still achieving your financial goals. It was a great conversation, and I hope it helps you too! If you have any questions or want to chat more, feel free to reach out to me at TheCashflowCFO.com.
“You have to create the plan. The plan has to align with your big picture vision, right? Because you have the vision and you're backing it up with strategy and that strategy comes at a cost."
- Andrea Jenson
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"Self-insurance isn't just for large corporations; small and midsize businesses can also benefit from the flexibility and potential savings it offers."
- Dennis Carlson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me for a second conversation with Dennis Carlson, Executive Benefits Advisor for Marsh McLennan Agency. Dennis previously played the role of entrepreneur inside the insurance industry, founding Bespoke Benefits in 2009, which was later acquired in 2017. Now, he leads the executive benefits practice for Marsh McLennan Agency in the western United States. Dennis has extensive experience advising on employee and executive benefits, helping businesses attract and retain top talent. Continue to get to know him, and learn from some of his wisdom.
Join us to learn the whole story!
"It's not about cutting corners—it's about customizing benefits in a way that aligns with your budget while still providing meaningful coverage to employees."
- Dennis Carlson
Involving Finance in Benefits Decisions
Dennis Carlson highlights the critical need for involving finance teams in employee benefits decisions. Traditionally, these decisions have been the domain of HR or office management, but integrating finance professionals into the conversation ensures that budget planning and cost control are thoroughly considered. This collaboration allows businesses to explore various funding options that might be overlooked if finance isn’t part of the discussion.
The Case for Alternative Funding Strategies
Dennis introduces alternative funding mechanisms as a viable strategy for small and midsize businesses to manage their benefits costs more effectively. While these strategies are often associated with large companies, Dennis explains that smaller businesses can also benefit from self-insured or partially self-insured plans. These options provide greater control over healthcare expenses, offering a potential path to significant cost savings.
Customizing Benefits for Cost Efficiency
Dennis shares insights on how employers can customize their benefits offerings to achieve cost efficiency. He suggests considering high-deductible health plans paired with tailored funding mechanisms as a way to provide comprehensive coverage while managing costs. By working closely with brokers, employers can design benefits packages that meet their financial constraints without sacrificing quality.
The Role of Communication in Benefits Success
Effective communication is a key theme in Dennis’s advice. He emphasizes the importance of ensuring that employees fully understand their benefits and how to use them. Clear communication not only helps employees maximize the value of their benefits but also enhances their appreciation for what their employer provides, leading to better engagement and satisfaction.
"Bringing finance into the benefits conversation early allows companies to explore funding options that may not even be on the table if finance isn’t involved."
- Dennis Carlson
Want to get in touch with Dennis Carlson?
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/denniscarlson
Website: https://www.marshmma.com
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“…as a business owner or as just a CEO running a business… probably the first thing you should be thinking about… as it relates to attracting and retaining employees… is are the benefits that we offer today working.”
- Dennis Carlson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me for a conversation with Dennis Carlson, Executive Benefits Advisor for Marsh McLennan Agency. Dennis previously played the role of entrepreneur inside the insurance industry, founding Bespoke Benefits in 2009, which was later acquired in 2017. Now, he leads the executive benefits practice for Marsh McLennan Agency in the western United States. Dennis has extensive experience advising on employee and executive benefits, helping businesses attract and retain top talent. Get to know him, and hear some of his wisdom.
Join us to learn the whole story!
“…really every small business owner should be thinking about these things. And… it's one of those things that nobody wants to deal with. It's easy to push off and easy to not think about.”
- Dennis Carlson
You Get What You Pay For
Dennis and I dive into the often overlooked aspects of executive benefits. We discuss the financial challenges businesses face when offering competitive benefit packages and explore alternative financing strategies to make these benefits more affordable. Dennis highlights the importance of finding a balance between cost and value, ensuring that businesses can attract top talent without breaking the bank.
Renaissance Man
We also touch on Dennis’s journey into the insurance industry, which began unexpectedly after a stint in the music industry. His marketing background played a pivotal role in his transition to insurance, where he built an employee benefits practice from scratch. Dennis shares how leveraging technology has been crucial in keeping ahead of the competition in an industry that is traditionally slow to adapt.
Human Capital
We get deep into the specific benefits that business owners should consider for their executive teams, such as life insurance, disability insurance, and retirement plans. Dennis emphasizes the need for benefits that cover the unique needs of high-earning executives. We discuss the significance of capturing variable compensation and ensuring comprehensive coverage. Dennis also explains how insurance can protect businesses from the sudden loss of key personnel.
“...it's for that individual employee who, that if something happened to them unexpectedly, sick or hurt, can't work or passed away unexpectedly… what would it cost the business to rehire, retrain… lost income because maybe they were one of the top salespeople?”
- Dennis Carlson
Want to get in touch with Dennis Carlson?
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/denniscarlson
Website: https://www.marshmma.com
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“Part of my journey is making sure that, you know, local communities and minority and women owned businesses understand about the various opportunities that are available through government agencies or large corporations.”
- Jean Kristensen
Welcome back to the Cash Flow CFO Podcast! This episode was so popular with our listeners that we are rebroadcasting it in case anyone missed it the first time. In it, I interview Jean Kristensen, the CEO and chief consultant at JKA Solutions. Jean connects women and minority businesses with government and large corporate entities seeking diversity in their contracts. Previously, Jean experienced firsthand the struggles and successes that come with rapidly scaling a family business built from scratch.
Join us to learn the whole story!
“There are so many of these partnerships happening right now where non-minority firms, non-diverse firms, large companies, are looking to gain access to market share that is earmarked for small businesses.”
- Jean Kristensen
Transformative Leadership and Impactful Change
Under Jean's leadership at JKA Solutions, a dedication to empowering businesses through supplier diversity, outreach, consulting, and training is evident. Her personal success story of transforming a family-run security guard company into a thriving enterprise showcases the transformative power of supplier diversity. Others have taken note of Jean, who’s found herself included among New York’s MWBE Power 50, and named as one of the "Top Women to Watch in Real Estate."
Exploring Opportunities
Andrea learns about Jean’s unique career path, from the family's security guard company to becoming a leading figure in supplier diversity. Jean shares challenges and triumphs, offering insights into the vast landscape of opportunities for women and minority-owned businesses. The conversation delves into government contracts, corporate initiatives, and upcoming investments in diversity expected from the public and private sectors.
Business Growth with a Social Purpose: Actionable Insights
In the final segment, Andrea and Jean discuss steps for businesses looking to scale and tap into diversity-seeking opportunities. Jean emphasizes the need for intentional planning, financial health, and strategic partnerships. Andrea and Jean both note the importance of well-structured financial foundations and the role of organizations like The Cash Flow CFO, which guide businesses toward sustainable growth.
“…I don't want to make it sound perfect, I don't want to make it sound easy, but we were able to gain access to many lucrative government contracts and many contracts in the private sector that propelled us from a small family run business to one of the largest companies, largest minority women owned security companies at the time…”
- Jean Kristensen
Want to get in touch with Jean Kristensen?
Website: https://jkasolutions.com/
LinkedIn: https://www.linkedin.com/in/jeankristensenassociates
Facebook: https://www.facebook.com/JEANKRISTENSENASSOCIATE
Twitter: https://twitter.com/jeankristensen
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"The insurance industry has evolved significantly over the years, but it remains a complex field that requires constant learning and adaptation."
- Eddie Del Canto
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this conversation with Eddie Del Canto. Eddie started his insurance career in the late 1990s and has since made significant contributions to the commercial insurance industry. Before co-founding CompSure Insurance Solutions, he played a crucial role in the profitable growth of the workers' compensation commercial segment at Wells Fargo Insurance Services and The Hays Companies, now Brown & Brown. Mr. Del Canto holds a Bachelor of Science degree in Business Administration with a focus on service sector management from California State University, San Marcos. Outside of his career, Eddie's passions include his family, friends, music, basketball, and assisting employers in negotiating the best workers' compensation rates and services.
Join us to learn the whole story!
"High premiums have been a significant burden for employers, and finding ways to provide relief has always been a crucial part of my work in the insurance sector."
- Eddie Del Canto
The Complexity of Insurance for Business Owners
Eddie Del Canto emphasizes the complexity of navigating various insurance policies, from general liability to workers' compensation. He highlights the importance of understanding these policies to avoid costly mistakes and ensure adequate coverage. Eddie’s insights provide listeners with a clear understanding of why insurance can be a daunting task for many business owners.
Addressing High Premiums and Cost Management
Eddie discusses the issue of high insurance premiums, a major concern for many businesses. He explains how premiums are calculated and the factors that can influence these costs. Eddie offers practical advice on how businesses can manage and potentially lower their premiums through various strategies, such as improving safety protocols and maintaining a good claims history. His expertise helps demystify the pricing structure of insurance and provides actionable tips for cost management.
Workers' Compensation Challenges
One of the focal points of the conversation is workers' compensation insurance, which Eddie describes as one of the most challenging aspects for business owners. He elaborates on the common pitfalls and misconceptions surrounding workers' comp and stresses the importance of proper management and documentation. Eddie shares real-life examples to illustrate the potential consequences of mismanaging workers' comp claims, emphasizing the need for vigilance and thorough understanding in this area.
Tailored Insurance Solutions and Future Trends
In the final segment, Eddie talks about the importance of tailored insurance solutions that meet the specific needs of individual businesses. He explains how a one-size-fits-all approach can be detrimental and why customization is key to effective coverage. Eddie also touches on future trends in the insurance industry, such as the impact of technology and emerging risks. His forward-looking perspective provides valuable insights for business owners looking to stay ahead in the ever-evolving landscape of insurance.
"Every business is unique, and so are their insurance needs. It's essential to tailor insurance solutions that specifically address the risks and requirements of each individual business."
-Eddie Del Canto
Want to get in touch with Eddie Del Canto?
Website: www.compsure.net
YouTube: https://youtu.be/3Ym1U0ZRwkI
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/thecashflow.cfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“…If you've got $50,000 to buy… a front page ad in the Sunday paper, great. Anybody with $50,000 can, you know, can pay for that ad… It doesn't necessarily set you apart in any way. And what earned media is, is it's when you're mentioned in that story, when you're in that blog, when you're on that podcast, and many cases when you're on that stage."
- Lauren Banyar Reich
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me for a conversation with Lauren Banyar Reich, the founder and CEO of public relations firm LBR PR. Lauren and her team excel at advancing clients’ business goals by connecting them with high-visibility media opportunities. LBR PR matches clients with media outlets seeking expert commentary, bylined articles, product features, and more. The company’s clients receive attention from prestigious publications like the Wall Street Journal, websites like Refinery29, and major metro area TV. Lauren emphasizes the outsized public credibility boost offered by these earned media appearances, when compared to paid media, AKA advertising.
Join us to learn the whole story!
“…Earned media tends to also beget more earned media. Because even journalists are looking up who's the go to source.”
- Lauren Banyar Reich
An Early Passion
Lauren shares her journey into PR, which began with a nudge from an English teacher who saw her strengths in public speaking and writing. She studied journalism at the University of Maryland, where she fell in love with PR for its blend of storytelling and communication. Her passion for the field has kept her engaged and driven, finding endless opportunities across various industries. We discuss how these early skills set the foundation for her successful career and the launch of LBR PR.
Reach Those Who Skip Ads
We talk about the evolving landscape of PR within the marketing mix. Lauren explains how earned media can amplify other marketing efforts, like content, SEO, and advertising. She states the importance of building credibility and visibility for clients, citing examples of successful campaigns that strategically targeted specific industry publications and events. This holistic approach helps businesses achieve their goals by making them more recognizable and trusted in their fields.
What Money Can’t Always Buy
Lauren discusses the differences between earned and paid media, explaining how each serves distinct purposes in a comprehensive marketing strategy. Earned media, achieved through credibility and expertise, can significantly lower customer acquisition costs and build long-term trust. For those looking to get their names out in the public, Lauren suggests building relationships with journalists who often need the help of expert commentators. She tells us how she’s gone about that.
“They've heard you give really insightful… takeaways and concrete things that they've remembered, right? So… when they walk in that door, whatever that door is, whether it's onto your website, into your office, over the phone, whatever that looks like, even your LinkedIn profile, they're further down that path of really feeling like they know you and like you and trust you than they would have been if you came in cold.”
- Lauren Banyar Reich
Want to get in touch with Lauren Banyar Reich?
Website: https://www.lbrpr.com
LinkedIn (Lauren): https://www.linkedin.com/in/lbrpr/
LinkedIn (LBR/PR): https://www.linkedin.com/company/lbr-pr
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"I think the first thing you should be thinking about is your business doesn't sell on revenue, it sells on profit. It's going to be a multiple of your profit."
- Andrea Jenson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode for the second half of a two part series in which I co-host a virtual workshop with Jean Kristensen, the CEO and chief consultant at JKA Solutions. We pick up where we left off by discussing the important topic of owner’s compensation. Many business owners either take money off the top or put themselves on salary, which can strain the business. It’s crucial to dig deeper into how compensation fits within your business model.
Join us to learn the whole story!
"So the passive income that I'm referring to is the individual side… you've taken the money, the profits, the client package out of the business, and now you've paid taxes on it. You've done whatever you need to do based on your business entity structure. And now on the personal side, you're looking for vehicles that are going to, you know, be putting your money to work for you without you having to actively do a lot there."
- Andrea Jenson
Planning for Retirement
Another key point is the importance of planning for retirement. Business owners should not rely solely on selling their business for retirement funds, as 80% of businesses up for sale do not sell. It’s essential to have a strategic approach to your compensation, working with tax preparers to find the ideal mix of payroll, distributions, and dividends. Treat your business as an asset that generates passive income, moving active income activities to personal passive income activities over time.
Passive Income Strategies
We also explored the concept of personal passive income. This involves taking profits from the business and investing them in vehicles that generate income with minimal active involvement. Many business owners invest in real estate or high-yield investment accounts. The goal is to have multiple income streams to provide security and reduce reliance on the business alone. Compounding interest and consistent investment can lead to significant growth in personal wealth over time.
Preparing for Business Sale
Finally, we touched on the process of preparing to sell a business. It’s important to understand that businesses sell based on profit, not revenue. To increase the likelihood of a successful sale, business owners need to reduce risk for potential buyers by having a diverse customer base, a solid team, and clean financial records. Planning for the sale should start 3 to 5 years in advance to maximize the business's value and ensure a smooth transition. Working with a fractional CFO can help you navigate this process, ensuring your business is as profitable and attractive as possible to potential buyers.
"Find a CFO that has a growth mindset. There's a lot of financial professionals that are risk averse and that doesn't necessarily need to equate to scaring you…We always say to our clients…we never tell them ‘no’. We always say, ‘sure, let me show you how we can do that’."
- Andrea Jenson
Want to get in touch with Jean Kristensen?
Website: https://jkasolutions.com/
LinkedIn: https://www.linkedin.com/in/jeankristensenassociates
Facebook: https://www.facebook.com/JEANKRISTENSENASSOCIATE
Twitter: https://twitter.com/jeankristensen
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"Think of your CFO as the navigator, looking ahead to ensure your business remains profitable and on track. They work alongside your bookkeeper, who handles historical data, to create forward-looking financial plans."
- Andrea Jenson
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode for the first half of a two part series in which I co-host a virtual workshop with Jean Kristensen, the CEO and chief consultant at JKA Solutions. We discuss the importance of being financially ready for business growth. At The Cash Flow CFO, we specialize in helping entrepreneurs manage their cash flow and navigate the financial complexities of scaling their companies. Your business is your most significant asset, and our goal is to make it financially robust enough to sell, leverage for financing, or provide for your future. We'll explore what it means to be procurement ready, especially when targeting large contracts with government agencies or corporations.
Join us to learn the whole story!
"Your business is your most significant asset, and our goal is to make it financially robust enough to sell, leverage for financing, or provide for your future."
- Andrea Jenson
Becoming Procurement Ready
One of the first steps in being financially ready is having accurate, timely financial statements. This helps you understand your business's health, sales goals, and revenue. When securing large contracts with government agencies or large corporations, you need to be prepared for the associated delivery costs. Financial readiness means knowing where your business stands financially before bringing in contracts, having a plan for servicing those contracts, and ensuring you have a line of credit for slow-paying customers. This preparation demonstrates your understanding of your numbers and makes you appear more prepared to potential clients.
The Role of a Fractional CFO
A fractional CFO is crucial for scaling your business. They provide forward-looking financial strategies, unlike bookkeepers or tax preparers who focus on historical data. Your CFO will create an annual budget based on growth goals, prepare a staff utilization schedule, manage job costing, and maintain relationships with bankers to ensure effective use of funds. This helps in understanding your burn rate, making timely decisions, and ensuring your business has at least 90 days of operating cash.
Strategic Planning and Growth
Effective financial management involves setting aside profits for taxes, debt, growth investments, and owner compensation. A CFO helps you create a predictable profit model by allocating revenue into cost of goods sold, general and administrative expenses, marketing expenses, and profit. By understanding customer acquisition costs and sales funnel metrics, you can make informed decisions about scaling. With a strategic plan, entrepreneurs can confidently aim for significant growth, knowing that they have the systems in place to support their expansion and secure larger contracts with ease.
"For every dollar in revenue that you bring in, it equals 100%. That 100% needs to be split up over four big buckets in your business: cost of goods sold, general and administrative expenses, marketing expenses, and profit. The profit needs to cover your operating expenses, any existing debt, income taxes, and reinvestment back into the business. This ensures that your business remains financially healthy and can support growth."
- Andrea Jenson
Want to get in touch with Jean Kristensen?
Website: https://jkasolutions.com/
LinkedIn: https://www.linkedin.com/in/jeankristensenassociates
Twitter: https://twitter.com/jeankristensen
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
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“You want to make sure that you have a really good open relationship … that you're always talking to your business banker so that they know how business is going.”
-Andrea Jensen
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this solo episode as I share valuable questions about the current financial state of your business.
Join us to learn the whole story!
“it's so important to understand how ready are you to take on new contracts, to have a new opportunity come your way.”
-Andrea Jensen
Assessing Financial Readiness
In today’s episode, I dive into essential questions every business owner should ask themselves to gauge their financial readiness. I regularly discuss financial goals with entrepreneurs, prompting me to share these key questions with our audience. We go through crucial aspects like the ability to generate timely financial statements, the presence of a budget, and understanding customer acquisition costs.
Evaluating Management Practices
Listeners are encouraged to assess their businesses by answering simple yes or no questions regarding financial management practices. From the frequency of budget comparisons to the existence of a financial dashboard, each topic sheds light on the health of their operations. Additionally, I emphasize the importance of maintaining open communication with financial advisors, bookkeepers, and bankers.
Strengthening Financial Foundations
You’ll gain insight into your financial preparedness and are invited to share the quiz results for further discussion. Whether achieving 100% or identifying areas for improvement, these questions serve as a valuable tool for businesses aiming to strengthen their financial foundations.
Embracing Continuous Improvement
These questions serve as a litmus test for the financial robustness of any business. Achieving a perfect score on this quiz indicates a well-rounded team of financial professionals supporting your endeavors. Even if you didn't ace the quiz, it's not a cause for alarm. Instead, it's an opportunity to identify areas for improvement and take proactive steps towards enhancing your financial management practices.
“You should have somebody that is … forward thinking, helps you make strategic spending decisions in your business, somebody that has a financial background.”
-Andrea Jensen
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/thecashflow.cfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“…I like to say that I can empathize tremendously with my clients because I've been there. I've literally gone through this discussion and I was the one on the receiving end at one point… where I had a financial expert come in and pretty much say to me, like, Jess, your prices are terrible. You know, you're not pricing for profits and here's what we need to do.”
- Jessica Buzzell
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me for a chat with Jessica Buzzell, one of our brilliant CFOs. Jess shares some anecdotes collected over her 15-plus years dedicated to business development, accounting, financial management, and leadership consulting. Jess also revisits the stresses that came with scaling her own startup, which she built from the ground-up into a multi-million-dollar enterprise. We highlight how the CFO mindset played into optimizing the businesses we created firsthand.
Join us to learn the whole story!
“…Because of my experience running the company before and scaling it… my brain is so heavily leaning towards operations all the time. How can we make this process more streamlined? How can we slim down maybe on some of our manual tasks and our staff… so that we don't have to have this big burden to handle this process?”
- Jessica Buzzell
Information Advantage
Jess and I consider what goes into refining a given company’s overall strategy, and how oftentimes difficult decisions are made easier with clear, non-emotional financial data available to set guideposts. We agree; meticulous analysis empowers business owners to navigate uncertainties with confidence. The stakes get higher as things scale.
A Business is your Baby
As CFOs, we reflect on how commonly we’re asked to get involved with creative thinking beyond our typical duties. All too often, part of the job requires understanding personalities. I joke with Jess, saying we must wear three hats: CFO, therapist, and detective. She adds operations consultant to that list.
CEO or CFO?
Ultimately, our experiences with clients continue telling us that huge business potential too frequently sits untapped, when owners remain fixated on working in their businesses, and not on them. When scaling, the highly technical role of a CFO becomes increasingly demanding, consuming ever-larger portions of owners’ time. Furthermore, the appropriate analytical and projection skills can easily exceed one’s abilities. Jess and I agree; we find satisfaction witnessing clients’ bewilderment, when we take previously daunting tasks off their plates, while simultaneously opening their eyes to future possibilities.
“You hire for your weaknesses. So if you don't have a strong financial background or acumen or if you don't know anything about pricing or if you don't even know what… it costs to deliver your services or to produce your products, you need a CFO.”
- Jessica Buzzell
Want to get in touch with Andrea Jenson or Jessica Buzzell at the Cash Flow CFO?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"I tend to call them lazy brokers who just send the renewal and go, ‘Well, that is what it is this year. Good, good luck with that.’ There's really a lot that can be done, but it takes a broker that wants to get into the nitty gritty of it in order to look at what those options are.”
- Amy Evans
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode as I interview Amy Evans, who has more than 20 years of experience in the insurance industry, simplifying employee benefits for employers and their employees. In October of 2021, her insurance agency was acquired by Acrisure and she now serves as an associate vice president.
Amy works with employers to help them navigate the complex world of employee benefits, business insurance and risk management. In 2019, she started the Align Women Podcast, which features female entrepreneurs, leaders and other professionals who have demonstrated agency and innovation in their personal and professional lives. Amy is a frequent speaker, writer, podcast guest and social media participant, and you can find her engaging regularly on a variety of topics, including health insurance issues, entrepreneurship, social media strategies, women's empowerment and networking with intention.
Join us to learn the whole story!
"...benefits have a huge PR component because employees are interacting with that and they are assessing the value of that as part of their overall employment. And they they should be educated about how the benefits work and they should feel like they have a resource.”
- Amy Evans
Navigating the Complex World of Insurance
During our conversation, Amy shared insights into the complex world of employee benefits and commercial insurance. She emphasized the importance of understanding the unique needs of each client's workforce, guiding employers through strategic decisions to optimize their benefits packages. Amy highlighted the evolving landscape of insurance, emphasizing the need for employers to stay informed and adaptable
Exploring Employee Benefits
We delved into various aspects of employee benefits, including health insurance, flexible spending accounts, health savings accounts, and additional perks like dental, vision, and life insurance. Amy underscored the significance of employee perception and satisfaction when designing benefits packages, advocating for transparency and employee input.
Amy’s Expertise and Insights
Throughout the episode, Amy’s expertise and passion for helping employers navigate the intricacies of insurance shone through. Her advice on balancing cost considerations with employee needs and the ever-changing insurance landscape provided valuable insights for businesses of all sizes. Join us as we explore the world of insurance and empower employers to make informed decisions for their teams.
"I really like health advocacy benefits. So health advocacy is a service that allows employees to have someone that they can call to help them with difficult medical bills. And if you've ever dealt with complex medical situations, those bills can be terrifying, confusing. They can take a long time to resolve. And having a health advocacy service that can kind of take that work on is great for the employee because it takes a lot of stress off.”
- Amy Evans
Want to get in touch with Amy Evans?
Website: www.acrisure.com/southwest
LinkedIn: https://www.linkedin.com/in/amyevans2/
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“…One of the things that I remind my clients with all the time is any shortcuts you take during the hiring process will cost you when it comes to managing that team member.”
- Jamie Van Cuyk
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me in this conversation with Jamie Van Cuyk, the founder and lead strategist of Growing Your Team. Leveraging more than 15 years of expertise, Jamie helps women-owned small businesses master their hiring practices. Her company teaches how to find long-lasting team members and avoid the costly cycle of hiring and firing.
Join us to learn the whole story!
“…I ask my clients… what's the goal of this position? They'll say to save me time. And I'm like, that's great, but why this position? What is this position going to do for you? How is it going to save you time?”
- Jamie Van Cuyk
Trial by Fire
Jamie explains her evolution from corporate marketing to entrepreneurship, with time spent starting a software company, and ultimately founding Growing Your Team. Initially focused on large-scale clients, Jamie pivoted her business to serve smaller operators, after realizing their demand for hiring know-how. And with years invested in the field, Jamie shares what she likes to tell those facing strategic talent acquisition decisions.
Serious Business
Clear and honest job postings attract ideal candidates, Jamie stresses. She explains the significance of aligning job descriptions with the roles' actual responsibilities, set against realistic expectations. She emphasizes the financial impact of bad hires, citing studies that show a wrong hire can cost a business some $7,000 dollars, at a minimum.
Let Go to Grow
Jamie also discusses the importance of filling roles with candidates capable of improving a company’s performance, not just maintaining it. As she puts it, unwillingness to delegate, and fear of new perspectives can hinder owners who mistakenly focus on how duties are performed, instead of welcoming new opinions and methods.
“…Ask yourself, does this need to be done right or does it need to be done by me? And if the answer is it just needs to be done right, you can train someone to do it right. There are things in your business that do need to be done by you as your business grows. That list should actually be getting smaller and smaller...”
- Jamie Van Cuyk
Want to get in touch with Jamie Van Cuyk?
Website: https://growingyourteam.com
Instagram: https://www.instagram.com/growingyourteam
LinkedIn: https://www.linkedin.com/in/jamievancuyk
Facebook: https://www.facebook.com/GrowingYourTeam
Pinterest: https://www.pinterest.com/growingyourteam
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“I don't care if you want to sell it, but I want you to have a business that can be sold.”
- Jim Padilla
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me as I have a conversation with Jim Padilla. Jim is a seasoned entrepreneur and global impact strategist, known for his expertise in sales systems and business growth. He's the CEO of Gain the Edge, a company focused on providing top-notch sales systems and professionals. In our chat, Jim shared his journey into the world of sales systems and highlighted the importance of aligning business and personal goals for holistic success.
Join us to learn the whole story!
"Everybody needs to get out of their mind that you owe it to your customer. And I am not saying devalue the customer, always value the customer. Without them, you don't have a business. However, again, along the lines of exactly promise, what is the thing that they hired you for?"
- Jim Padilla
Front-end and Back-end Cash Flow Management
Jim talked about the significance of robust systems and structures in driving business growth. He stressed the need for businesses to focus on both front-end and back-end cash flow management. On the front end, it's about generating sales and optimizing customer acquisition costs. Meanwhile, on the back end, it's about effectively allocating resources, reinvesting profits, and managing expenses to ensure long-term viability.
The "Mountaintop Experience"
We touched on the concept of the "mountaintop experience," where businesses aim to deliver exceptional value to their customers, keeping them engaged and committed for the long haul. Jim emphasized the importance of delivering exactly what customers need, avoiding the trap of over-delivering, and focusing on value alignment with premium buyers.
Scalable Systems and Strategies
Furthermore, Jim shed light on the journey from profitability to viability, encouraging the need for businesses to have scalable systems and strategies in place. He underscored the role of expert guidance in navigating this journey, urging business owners to seek specialized help when needed rather than attempting to solve everything themselves.
Balancing Revenue, Expenses, and Growth
In essence, our conversation with Jim Padilla highlighted the critical role of sales systems, strategic planning, and effective cash flow management in driving business success. It's about finding the right balance between generating revenue, optimizing expenses, and investing in sustainable growth for the future.
“We're on a mission to take people from profitable to viable to buyable.”
- Jim Padilla
Want to get in touch with Jim Padilla?
Instagram: https://www.instagram.com/jimpadilla_/
Website: https://www.jimp360.com/
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/thecashflow.cfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“I often tell our clients that what we do is based on 10,000 years of human psychology. Ignore it at your peril.”
- Elizabeth Purvis
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me in this conversation with Elizabeth Purvis, a veteran in digital marketing and messaging strategy, who also happens to be a metaphysical teacher. Elizabeth is the CEO of 7-Figure Goddess, a company uniquely focused on empowering entrepreneurs and leaders in the fields of personal coaching, healing, channeling, teaching, and other transformational pursuits. Elizabeth's specific talent lies in crafting offers and messaging tailored to resonate with well-honed target audiences, while also refining that messaging to stay aligned with their needs and desires, as the world evolves. Elizabeth and I reflect on our shared journey, which now goes back essentially a decade.
Join us to learn the whole story!
“If you don't go right for the person that you want right out of the gate, chances are you're not going to attract as many people as you want of the wrong people…”
- Elizabeth Purvis
Know Your Human
Elizabeth emphasizes the significance of understanding human psychology in crafting effective marketing strategies. Drawing from her background in engineering and her early experiences in direct response copywriting, she highlights the power of offers and messaging in driving business growth. Through her company, Elizabeth helps coaches and practitioners transition from six to seven figures without relying on conventional marketing methods like webinars or sales calls. Instead, she advocates for organic traffic strategies backed by optimized offers and messaging.
Don’t Miss What You Miss
Andrea and Elizabeth stress the necessity of tracking data and making micro-adjustments based on audience responses, both positive and negative. They discuss the iterative process of testing and refining messaging to ensure it resonates with the target demographic. Elizabeth shares insights into her approach of always starting with the question of who the target audience is and what their current needs and pain points are. By staying attuned to audience feedback and market trends, businesses can adapt their messaging effectively and sustainably, she says.
Lots of Little Wins
Andrea and Elizabeth underscore the importance of starting small, testing rigorously, and investing resources wisely based on proven results. They advocate for an iterative approach to messaging and offer development, guided by a deep understanding of the target audience. They call for leaders in marketing to cultivate strong connections with their audience and drive growth over time by prioritizing clarity, alignment, and responsiveness.
“Rules of marketing and offers and messaging are always working. But if we're not paying attention, then that's when… you wake up and you're like, why is no one buying?”
- Elizabeth Purvis
Want to get in touch with Elizabeth Purvis?
Website: https://7figuregoddess.com
Book: https://7figuregoddessbook.com (or on Amazon)
LinkedIn: https://www.linkedin.com/in/elizabethpurvis/
Facebook: https://www.facebook.com/elizpurvis
Instagram: https://www.instagram.com/femininemagic/
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"I think that's something that sets us apart from other event planners…we're looking at it more from a strategic standpoint… Tell me about your business. Tell me about your offer. What is the purpose and intention of the event in the first place? What are we looking to do? Why are they showing up? Like, what is the journey that we want to take them on and what is the end result?
- Shay Wheat
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode as I interview Shay Wheat, an esteemed event producer and the CEO of Grace and Ease Productions. With over a decade of experience, Shay has mastered the art of orchestrating high-ticket offer events, consistently delivering substantial returns for her clients within just a few days. Through her insights, Shay sheds light on the strategic fusion of event management and consulting, tailored to meet the unique needs of clients worldwide.
Join us to learn the whole story!
"What if you hosted an event for those people [leads that your sales team didn't close] to come back into your space because they originally spoke to you because there was some type of pain, they were hoping that you could support them in?"
- Shay Wheat
The Power of Strategic Event Planning
Shay underscores the paramount importance of strategic event planning, emphasizing a client-centric approach aimed at achieving desired outcomes. She advocates for events not merely as revenue generators but as pivotal opportunities for community-building and engagement. Drawing from her wealth of experience, Shay provides compelling examples, ranging from philanthropic initiatives to immersive retreats, showcasing the diverse ways in which events can be leveraged to meet clients' objectives effectively.
Navigating Virtual Engagement and Fulfillment Events
Shay delves into the intricate psychology of engagement within virtual events, likening the experience to platforms like Netflix to underscore the significance of maintaining active participant involvement. She elucidates the role of fulfillment events in nurturing client relationships and fostering community cohesion, urging business owners to harness the power of events as potent marketing tools. With practical insights and valuable resources, Shay encourages listeners to explore high-profit event strategies, highlighting their potential to optimize marketing investments and cultivate lasting customer connections through strategic event planning.
Integration of Events with Digital Marketing and Branding
In addition to her expertise in event production, Shay Wheat offers valuable insights into the evolving landscape of digital marketing and branding. She stresses the importance of integrating event strategies with broader marketing initiatives, emphasizing the need for consistency and coherence across all touchpoints. With Shay's guidance, listeners are empowered to reimagine their marketing strategies, leveraging the dynamic synergy between events and digital branding to forge meaningful connections and drive business success in today's competitive marketplace.
"You spend really good money on your marketing, so let's actually find ways that we can scale, grow, leverage and capitalize on the money you've already spent. Yeah, utilize events to do that.
- Shay Wheat
Want to get in touch with Shay Wheat?
Websites: https://graceandeaseproductions.com/ and https://highprofitevents.com/
LinkedIn: https://www.linkedin.com/in/shaywheat/
Instagram: https://www.instagram.com/graceandeaseproductions/ and https://www.instagram.com/shaywheat
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"We're culturally archaic sometimes. We have a high-tech industry that's innovating and delivering food for the world, feeding billions of people. But sometimes our mindsets maybe haven't caught up with what we're delivering."
- Sarah Beth Aubrey
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode where I had the pleasure of speaking with Sarah Beth Aubrey, a trailblazer in agricultural consultancy and sustainability. As the CEO and founder of the Envoy Group, Sarah leads initiatives aimed at training, coaching, and coalition-building within the agriculture sector.
Join us to learn the whole story!
"Sustainability is not only environmental, and I work really hard to make sure that we talk about that because, while the environment is a critical element, it doesn't matter if the business can't stay afloat."
- Sarah Beth Aubrey
Challenges and Opportunities in Sustainability:
During our conversation, Sarah shed light on the challenges and opportunities inherent in promoting sustainability within agriculture. She stressed the importance of proactive measures to address climate change, emphasizing collaboration across diverse stakeholders. Sarah's advocacy for market-driven solutions underscores the pivotal role of innovation and entrepreneurship in advancing sustainable practices.
Steadfast Commitment to Depoliticizing Climate Discourse:
Despite facing obstacles such as financial constraints and supply shortages, Sarah remains steadfast in her commitment to depoliticizing climate discourse. She champions grassroots movements and emphasizes the need for collective responsibility in addressing environmental concerns. Through her work, Sarah aims to inspire businesses and individuals to embrace sustainability as a core value, integrating environmental stewardship with economic viability and social responsibility.
Vision for the Future:
Sarah's visionary approach highlights the transformative potential of sustainable practices for the future of agriculture and beyond. She continues to advocate for a holistic approach to sustainability, recognizing its profound impact on the environment, economy, and society. As Sarah continues to lead the charge in the agricultural sector, her efforts promise to shape a more sustainable and resilient future for generations to come.
“You have to be where your industry is going, otherwise, what value do you really bring as a consultant?”
- Sarah Beth Aubrey
Want to get in touch with Sarah Beth Aubrey?
Linkedin: https://www.linkedin.com/in/sarahaubrey
Instagram: https://www.instagram.com/sarahbethaubreysba/
Website: https://theenvoygroup.co/
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com/
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo/
Facebook: https://www.facebook.com/thecashflowcfo/
Instagram: https://www.instagram.com/cashflowcfo/
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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"I would not be where I am professionally... if it weren't for having attended to the gaps in my own psychological foundation."
- Annie Wright
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me as I welcome Annie Wright, a licensed psychotherapist and founder of Evergreen Counseling, a boutique therapy center in Berkeley, California. Annie specializes in supporting ambitious women from relational trauma backgrounds and runs an online course called Hard Families, Good Boundaries. Annie and I share a common experience working with many upwardly mobile women, and we discuss the intersection of money, trauma, and personal growth.
Join us to learn the whole story!
"Trauma survivors have symptoms, not memories."
- Annie Wright
The Journey to Evergreen Counseling
Annie explains how her personal journey of healing from childhood trauma led her to create Evergreen Counseling. She emphasizes the importance of creating a specialized space for trauma survivors to receive effective therapy. But as the center grew rapidly, Annie recalls how she confronted the complexities of managing money, and the HR challenges of her ever-expanding professional team.
Financial Management Insights
Having Andrea one-on-one, Annie takes the opportunity to seek advice about finance tools for businesses like her own. Andrea explains the necessity of creating a financial management dashboard that integrates key performance indicators, budgeting, and forecasting. She emphasizes the importance of analyzing variances and adjusting pricing strategies to align with financial goals.
Key Takeaways
Andrea and Annie's conversation highlights the struggles, both financial and personal, which confront entrepreneurs. As experts in their trades, they both make clear that tools and systems exist which address factors limiting growth and development. For many, past trauma remains a hurdle inhibiting progress and constricting behavior. A therapist, like Annie, offers professional solutions. And also for many, core business success can outpace financial management capability, likewise creating a barrier to growth. The services of a financial strategist and CFO, like Andrea, provide a way forward. In their discussion, Andrea and Annie acknowledge and celebrate the overlap among what they do professionally.
"If you want to know what your stuff is, try being in business for yourself or being in a long term romantic relationship."
- Annie Wright
Want to get in touch with Annie Wright?
Website: https://anniewright.com
Evergreen Counseling: https://evergreencounseling.com
Facebook: https://www.facebook.com/anniewrightpublicpage
Instagram: https://www.instagram.com/anniewrighttherapist
Pinterest: https://www.pinterest.com/AnnieWrightLMFT
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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“Part of my journey is making sure that, you know, local communities and minority and women owned businesses understand about the various opportunities that are available through government agencies or large corporations.”
- Jean Kristensen
Welcome to a brand new episode of the Cash Flow CFO Podcast. Join me on this episode, as I hear from Jean Kristensen, the CEO and chief consultant at JKA Solutions. Jean connects women and minority businesses with government and large corporate entities seeking diversity in their contracts. And previously, Jean experienced firsthand the struggles and successes that come with rapidly scaling a family business built from scratch.
Join us to learn the whole story!
“There are so many of these partnerships happening right now where non-minority firms, non-diverse firms, large companies, are looking to gain access to market share that is earmarked for small businesses.”
- Jean Kristensen
Transformative Leadership and Impactful Change
Under Jean's leadership at JKA Solutions, a dedication to empowering businesses through supplier diversity, outreach, consulting, and training is evident. Her personal success story of transforming a family-run security guard company into a thriving enterprise showcases the transformative power of supplier diversity. Others have taken note of Jean, who’s found herself included among New York’s MWBE Power 50, and named as one of the "Top Women to Watch in Real Estate."
Exploring Opportunities
Andrea learns about Jean’s unique career path, from the family's security guard company to becoming a leading figure in supplier diversity. Jean shares challenges and triumphs, offering insights into the vast landscape of opportunities for women and minority-owned businesses. The conversation delves into government contracts, corporate initiatives, and upcoming investments in diversity expected from the public and private sectors.
Business Growth with a Social Purpose: Actionable Insights
In the final segment, Andrea and Jean discuss steps for businesses looking to scale and tap into diversity-seeking opportunities. Jean emphasizes the need for intentional planning, financial health, and strategic partnerships. Andrea and Jean both note the importance of well-structured financial foundations and the role of organizations like The Cash Flow CFO, which guide businesses toward sustainable growth.
“…I don't want to make it sound perfect, I don't want to make it sound easy, but we were able to gain access to many lucrative government contracts and many contracts in the private sector that propelled us from a small family run business to one of the largest companies, largest minority women owned security companies at the time…”
- Jean Kristensen
Webinar: Click HERE to register for the February 28th webinar with Andrea & Jean!
Want to get in touch with Jean Kristensen?
Website: https://jkasolutions.com/
LinkedIn: https://www.linkedin.com/in/jeankristensenassociates
Facebook: https://www.facebook.com/JEANKRISTENSENASSOCIATES
Twitter: https://twitter.com/jeankristensen
Want to get in touch with Andrea Jenson?
Website: https://thecashflowcfo.com
Podcast: https://pod.co/the-cash-flow-cfo-podcast
LinkedIn: https://www.linkedin.com/company/the-cash-flow-cfo
Facebook: https://www.facebook.com/thecashflowcfo
Instagram: https://www.instagram.com/thecashflow.cfo
YouTube: https://www.youtube.com/channel/UC0kQopRCt9TEbgYjmqA4SMQ
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