In this episode, I will share the three pillars of Simple CFO and why they are essential in any business. It doesn't matter what industry you are in; the three pillars are applicable. The truth is, regardless of the industry you are in, you'll always deal with money.
Profit first: This pillar aims at helping business owners change their mindset, behavior, and habits created from their financial perspective. This pillar helps to bring clarity to the entrepreneur and helps them align with their true values.
Good financial Clarity: This pillar involves knowing exactly where you are at any time from the data you have in your business. It's knowing your company's story. You need always to be aware of where you are as a company for you make informed decisions. It also includes having a great team.
Wealth creation and accumulation: This pillar revolves around making sure that you make a lot of money in your business. For instance, if you are in real estate and you stick long enough, you'll learn the industry's ins and outs. The experience will help you decide the path that works best for you in the long term and short term. I will be digging deeper into this topic in future episodes.
Key Talking Points of the Episode:
[01:15] Profit first core value
[00:52] The three pillars of Simple CFO
[02:35] The second pillar of Simple CFO, financial clarity
[04:53] Wealth creation
“Profit first is all about sales minus profit equals expenses.”
“Your books and the numbers that you are being fed should read to you like a children's book and not like 1000-page novel.”
“Financial clarity is all about having the numbers to make the key decisions in your business.”
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