10. Your Relationship with Money as a Business Owner

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The Accounting Edit

15 episodes

5 days ago

The Accounting Edit is where real conversations meet real numbers. Hosted by two women accounting firm owners, we’re pulling back the curtain on what it’s actually like to build a modern accounting practice—while helping small business owners make sense of their finances. Whether you’re a fellow firm owner, a service-based entrepreneur, or just curious about the behind-the-scenes of running a business, you’ll find honest insights, practical advice, and plenty of moments that make you feel like you’re not alone.

Entrepreneurship

Business

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Entrepreneurship

Business

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10. Your Relationship with Money as a Business Owner

The Accounting Edit

23 minutes 56 seconds

2 months ago

10. Your Relationship with Money as a Business Owner

In this episode, Leah and Aminder discuss the intricaterelationship business owners have with money, exploring various approaches to growth, the concept of sustainable growth, and the importance of running lean to achieve higher profit margins. They share personal experiences and insightson how their backgrounds influence their financial decisions and strategies for business success.

Takeaways

· Every business has its own trajectory and growthplan.

· There are different avenues for business growth:slow vs. rapid.

· A frugal approach can lead to sustainablegrowth.

· Understanding your expenses is crucial forprofitability.

· Your relationship with money is shaped by yourbackground.

· Sustainable growth means balancing revenue andexpenses.

· Investing in your business should be strategicand calculated.

· Running lean can help lay a foundation forhigher profit margins.

· Revenue growth should not come at the expense ofprofit.

· Your mindset around money influences yourbusiness decisions.

Chapters

00:00 Understanding Your Relationship with Money

09:43 Defining Sustainable Growth

18:58 The Importance of Running Lean

Keywords: business growth, sustainable growth, relationshipwith money, accounting, profit margins, lean startup, financial psychology, entrepreneurship, cash flow, investment

Website: TheAccountingEdit.com

Aminder's Links

Website: sequoia-cpa.com

Instagram: @sequoiacpa

LinkedIn: linkedin.com/company/sequoia-cpa

Leah's Links

Website: orca-accounting.com

Instagram: @orcaaccounting

LinkedIn: linkedin.com/in/leahmccool