Ready to dig into your #'s?
In this weeks podcast, Jim talks to David Richter and Jon Cruz of Simple CFO Solutions about the importance of knowing your numbers and keeping your books in order.
This week's podcast is packed full of important information.... all in under 30 minutes! Here are some of the highlights:
Note: This discussion frequently refers to The Profit First Systems ("Profit First" by Mike Michalowicz)
- The importance of keeping money in separate accounts allows you to see profit and expenses more clearly (and accurately)
- The importance of having a system and structure to manage your money
- Real Estate Investors: Why you should keep Investor/Lender Funds separate from other accounts
- Landlords: Why the security deposit should be kept in it's own account and should not be used as working capital
- How Simple CFO Solutions works with their clients to help them implement a profit system and with work through challenges like hiring, property management, project management, acquisitions and closings
- The time investment of setting up separate accounts is minimal but important. Taking this step first will ensure less stress over finances and lets you focus on the WHY (the reason you're in business)
- What are the key issues that investors have struggle with financially?
- What your balance sheet should look like
- Recommended Read: "Less Stress More Profit" by David Richter
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Join Jim Ingersoll at Deal Maker "LIVE" dealmaker2020live.com February 6 - 8, 2020 in Richmond, VA