Keep What You Earn

In this episode of Keep What You Earn, Shannon addresses a common question from a member of CFO on Demand: Should extra cash be used to pay off a small loan with 1% interest or placed in a high-yield savings account generating 3.5% interest? Shannon's insightful response delves into the logical and financial considerations behind this decision, challenging the traditional notion of debt as inheren...

In today's episode, we have Adam Lean joining us from the CFO Project, a pro at steering businesses toward peak cash flow and profit. Adam reveals the six pivotal drivers of cash flow and why mastering them is crucial for your company's health.   Say goodbye to just 'owning a job' and hello to a thriving, profitable enterprise. We'll explore Adam's expertise in elevating businesses beyond the day-...

Today, we're diving deep into why waiting for a crisis to solve business problems is all too common, and how proactive, preventative measures can save you from financial pain later on. We'll discuss the importance of good financial practices from the get-go, the analogy of business vitamins versus surgery, and when it might be time to seek professional help to get back on track. Get ready to confr...

In today's episode, we decode the balance sheet's mysteries and show you how this tool can guide your business decisions. You'll learn to check solvency, properly understand your assets, and ensure you're not just filling holes with bank loans. By the end, you'll have the confidence to use this info to your advantage.   What you'll hear in this episode: 03:09 Balance sheet reveals financial health...

In this episode, Shannon breaks down the common challenges that entrepreneurs face when seeking financial help as their businesses grow. She addresses the issues of financial support being seen as a luxury, the high cost of hiring financial professionals, and the lack of engagement in community forums due to the shame around asking money-related questions. Shannon introduces "CFO on Demand," a mem...

Today, Shannon delves into the topic of business boredom. She addresses the common struggle of feeling bored with a successful business and offers insight into why this feeling may arise. Shannon encourages business owners to consider the true purpose of their business and explores the idea that the way to make the most money may not always be the most exciting. With personal anecdotes and practic...

Today we have the honor of chatting with Jeremy Race, president and CEO of Junior Achievement of Southwest New England. Together, we'll delve into the vital role childhood financial education plays in shaping future generations.   Jeremy will share his passion for providing young students with the financial knowledge they need to succeed through Junior Achievement's engaging programs like Biztown...

In this episode of Keep What You Earn, Shannon delves into the topic of how to read your tax return. She emphasizes the importance of understanding and taking responsibility for your tax return before signing off on it. Shannon breaks down the key components of the tax return, simplifying the process and empowering listeners with the knowledge they need to comprehend their financial story. By guid...

In this episode, Shannon discusses what to do if you're behind on doing your taxes. As the tax deadline approaches, Shannon provides a detailed blueprint for handling the situation, covering various scenarios and offering valuable advice for business owners. She emphasizes the importance of taking ownership of the communication with your accountant, filing the necessary extensions, and paying any...

In this episode, Shannon discusses the mindset shift from valuing productivity to prioritizing profitability in entrepreneurship. She shares personal experiences and insights on how to focus on tasks that generate real results and revenue for your business. Shannon emphasizes the importance of understanding your profit drivers and making strategic decisions to allocate your time effectively. If yo...

In this episode of Keep What You Earn, Shannon continues her conversation with Tori Kruse, a personal stylist and founder of a mindset and confidence coaching company. Tori shares her journey from competing in Miss USA to founding her company, emphasizing the importance of internal discovery and personal development. Together, they discuss the power of energy and how a wardrobe can serve as a conv...

Today, Shannon interviews Tori Kruse, founder and CEO of Tori Kruse Enterprises. Tori shares her expertise in helping female speakers and leaders align their internal power with their external image. They discuss the importance of confidence in wardrobe choices and how it can impact one's performance on stage. Tune in as they unpack the deeper meaning behind styling and how it goes beyond just the...

In this episode of Keep What You Earn, Shannon discusses the common dilemma faced by business owners of not knowing who to ask for important business and financial advice. She addresses the challenges of finding the right professionals to answer questions about setting up a business bank account, forming an LLC, and handling personal finances. Shannon provides insights on when to consult a lawyer,...

In this episode of Keep What You Earn, Shannon breaks down the complex topic of S Corp salary in a way that's easy for anyone to understand. She explains the important requirement for S Corp owners to pay themselves a reasonable salary and delves into the internal and external factors that come into play when determining this salary. Shannon shares expert tips and real-life examples, emphasizing t...

Today, Shannon shares three simple steps to ease tax season anxiety. She emphasizes the importance of proactive bookkeeping and offers practical tips to make it more manageable. Additionally, she discusses the significance of organizing tax-related documents and suggests strategies to effectively communicate with your tax professional. Dive into this episode to learn how to alleviate tax season st...

In this episode of "Keep What You Earn," Shannon continues her insightful conversation with franchise expert Liz Leonard on the intricacies of being a successful franchisee. They delve into the challenges and experiences of franchise owners, including the importance of working capital and building a strong team. They also discuss the support provided by franchise companies, ongoing requirements, a...

In this episode, Shannon dives into the world of franchise businesses with expert Liz Leonard. They explore the lesser-known side of franchising, beyond the typical fast food and restaurant models, and discover the wide range of opportunities available in home services, healthcare, education, and more. Liz shares her expertise as a franchise advisor and owner, shedding light on the different types...

In this episode of Keep What You Earn, Shannon delves into the internal voices that entrepreneurs must silence in order to succeed. She identifies three key voices: comparison, overwhelm, and the fear of making someone feel bad. Through personal anecdotes and reflections, Shannon provides insights on the impact of these voices and strategies to silence them. From embracing beginner status to manag...

In this episode, Shannon dives into the complex world of tax estimates and how they apply to entrepreneurs. Addressing a question from CFO On Demand, Shannon breaks down the intricacies of paying estimated taxes throughout the year as an S corporation, emphasizing the need to understand the practicalities beyond traditional accounting advice. She offers valuable insights on how to handle fluctuati...

In this episode, Shannon shares her insights on what to consider when investing in businesses. She breaks down the essential questions to ask and factors to evaluate when approached for investment opportunities, providing valuable perspective for both potential investors and business owners seeking capital. From understanding the team and their expertise to assessing financial management and futur...

Today, Shannon is into the second part of her enriching conversation with Lindsey Pollak, a renowned career and workplace expert. Shannon and Lindsey continue unraveling the complexities and opportunities of cross-generation communication within your business.   Last time, Lindsey gave valuable insights into the shifting career landscape, and today she will explore further the dynamics of a multig...

In today's episode, Shannon dives into the intriguing world of generational differences with guest Lindsey Pollak, a renowned career and workplace expert. Together, they explore the impact of cross-generational communication and the various challenges that arise from miscommunication. Discover the official definitions of different generations according to the Pew Research Center, and gain valuable...

Today, Shannon dives into the often overlooked aspect of bookkeeping - the customization and organization of accounts in QuickBooks Online. She shares valuable insights on how to create a chart of accounts tailored to your business, including tips on tracking income and expenses more effectively. As the episode unfolds, Shannon reveals key strategies for maximizing tax deductions and leveraging fi...

In this episode of Keep What You Earn, Shannon explores the misconception of scaling in business. Providing insights into differentiating between growth and operational efficiency, Shannon emphasizes the importance of understanding when not to scale. Drawing from personal experiences, she encourages entrepreneurs to prioritize genuine connections over automated processes, highlighting the value of...

In this episode, Shannon delves into the complexities of compensation planning, particularly exploring the dilemma of choosing between commission-based or flat-rate compensation plans. Unraveling the intricacies of cash flow forecasts, she provides practical insights and strategic considerations for structuring compensation packages that align with business goals and attract top talent. Drawing fr...