In this episode of the "Cash and Sass" podcast, Lisa Marie, the "sassy wealth queen" and founder of Sassy Wealth Coach, chats with Colin Sanburg, a multi-business owner and founder of Fin Elevate. We dive into simplifying small business finance, focusing on understanding financial statements like profit and loss (P&L) and cash flow. Colin breaks down complex financial data into digestible parts and emphasizes the importance of key performance indicators (KPIs) for business owners, especially in service-based industries. We also discuss the significance of time tracking, managing inventory, and making strategic hiring decisions.

• Understanding the complexity of financial statements, particularly profit and loss (P&L) statements and cash flow.
• The importance of breaking down financial data into simpler, more digestible components.
• Differentiating between P&L statements and cash flow statements for better financial insight.
• Introducing a "simple profit formula" to categorize P&L statements into key areas.
• Identifying and tracking core key performance indicators (KPIs) for service-based businesses.
• The significance of time tracking for optimizing operations and improving efficiency.
• The role of technology and artificial intelligence (AI) in enhancing business productivity.
• Managing inventory and costs to prevent cash flow issues.
• Making strategic hiring decisions and understanding the implications for business scalability.

Reach out to Colin Sanburg:

Links:

www.finelevate.com

https://www.linkedin.com/in/colinsanburg/

https://www.facebook.com/the.finelevate/

https://www.instagram.com/the.finelevate/

https://www.linkedin.com/company/finelevate/about/

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https://www.thesassywealthcoach.com

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