In this episode of the Profit Answer Man, we are joined by Sarah Webb. She founded Webb CFO to provide accounting assistance and long-term financial planning guidance to licensed physicians and their private practice small businesses. Though Sarah and her team are happy to address the fundamental aspects of day-to-day accounting, such as cash flow management and budgeting, they take client financials a step further by adopting a strategic approach: leveraging numerical data for forecasting and planning, and offering a broader management-oriented perspective.
In this episode, you will learn the following:
- Challenges the notion that higher revenue equals success, emphasizing the importance of profitability instead.
- Advanced financial strategies for owners of multiple businesses, including the need for a robust tax reserve.
- Utilization of high-yield sweep accounts and financial scorecards for better financial management and decision-making.
- The ‘fraud triangle’ and the importance of verification methods to protect assets.
- Financial vigilance and smart management practices to prevent fraud and maintain a healthy business.
Links:
Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman
Sign up to be notified when the next cohort of the Profit First Experience Course is available!
Profit First Toolkit: https://lp.profitcomesfirst.com/landing-page-page
Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst