show episodes
 
Purposeful Profit is THE podcast for female business owners that are ready to take control of their business finances, build wildly profitable businesses and have more impact. The sexy parts of a business - marketing, sales and operations get plenty of attention - but finance is often a business’s neglected stepchild. It's time to show them some love - after all profit is how you have more impact and create financial freedom. Finance and strategy coach and fractional CFO Carla Moats will use ...
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show series
 
All businesses need bookkeeping. It’s part of doing business and it’s part of being a business owner. First you have to decide if you are going to DIY it or hire someone. But most business owners don’t have an accounting background and don’t know much about bookkeeping (and don’t really have the time to do it right). And if they decide to hire it o…
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Recently, I was talking to someone, and they asked me why profit mattered. I'll admit, was taken aback a bit. I felt like they were asking me why I needed to breath. It seemed so obvious to me. Businesses need profit to survive over the long-term. And business owners need profit if they want financial freedom or just to support their lifestyle. But…
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Sometimes what we mistake for fear or avoidance of our business finances, is really money trauma, which is a deeper issue than just being overwhelmed or confused or fearful of your finances. Join me for a conversation with Hailee, a trauma coach, as we talk about and try to normalize money trauma. We talk about how money trauma is different from fe…
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Do you have an LLC but are confused about how to file your taxes? This week's podcast episode is just for you. April 15th is less than a month off, which means you need to get those LLC taxes done. Tax laws can be complicated and overwhelming., but whether you are doing your own or hiring a pro, it's important as a business owner to know the basics…
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Freedom is my top value. It's really why I started my business. I wanted more financial AND time freedom. It's also usually a top 3 value of my clients as well. But freedom means different things to everyone. Knowing what freedom means to you is important if you ever want to achieve it. In this week's episode of Purposeful Profit, I'm talking all a…
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In today's episode of Purposeful Profit, I'm helping answer one of the most common questions I get from business owners: "Should I be an S corp or an LLC?" And the answer is, they really are not mutually exclusive. You can be an LLC as a legal form AND still elect S corp status. And doing so, can generate significant tax savings under the right cir…
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The best bookkeeping system for your business is the one you'll use. A system, no matter how full featured, that you don't use, isn't any better than no system. So if you don't have a system or you aren't using the system you have and are overwhelmed by the idea of using QBO or adding the cost, you are who Simple Financials was designed to serve. A…
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Is your bookkeeping system a shoebox? A file folder? A bookkeeping system provides a way to record and classify transactions and a shoe box or file folder can't do that. But not everyone needs (or wants) a full featured system like QBO. And bookkeeping doesn't have to be complicated. 🎧 Tune into this week's episode where I talk about the simplest b…
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It's tax season and that often brings a lot of stress, handwringing and anxiety to business owners. But tax prep can be a breeze if you are prepared. Before you go to your tax preparer, there's some easy steps you can take to reduce the questions you get from your tax preparer and makes sure you've maximized your deductions. 🎧 Tune into this week's…
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In this week's episode of Purposeful Profit, I'm clearing up the confusion I see among small business owners around the requirements for 1099 reporting. And this confusion is leading to 1099's being issued for incorrect amounts, to people who should not receive one, not being issue to those who should get one. Tune into this week's episode and get …
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Is your business built on a solid foundation? Or is it built on dirt or soft ground? When you build a house on soft ground, it might stand for a time, but eventually it caves in. Same goes for your business. And your finances are the basement of your business. It’s the part that’s invisible to most outsiders, but what holds up the upper floors - yo…
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There is one thing that absolutely every business needs: bookkeeping. You need it not just to report taxes properly, but to understand the finances of your business. Selecting your bookkeeping system is one of the earliest decisions you'll make in your business. But, let's face it, you are not an accountant and may not know what you need or underst…
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The only thing worse than no bookkeeping is bad bookkeeping. It costs you time and money, both today and in the future. I know because I'm often working with clients to clean up shoddy bookkeeping work. It's the starting point for a good financial foundation. There are a lot of great bookkeepers and accountants out there. But it's also an unregulat…
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Are your finances for 2023 all in order? Or are they a bit of hot mess? Are you going to be able to spend Q1 focused on your 2024 goals or are you going to spend it in mad rush, full of anxiety, trying to pull all your numbers together. What if this time next year, your finance were all in order and you were not scrambling for the tax guy. What if …
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The cash flow statement is one of the three standard financial statements for businesses. Yet it's an engima for many business owners. It's typically the least used and understood of the 3 standard financial statements. Yet it's a vital tool to helping you understand how your business generates and uses cash flow. And that understanding and knowled…
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Do you lose sleep worrying about whether you have enough cash in your business to pay your bills? Whether you can invest in your business so you can grow? Well, you are not alone. 70% of business owners say they have cash flow issues. When you are running a small business, cash is king. Because if you can't pay your bills or don't have money to inv…
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Making more profit in your business and more money in your life doesn't start with your numbers. Or your strategies. It starts between your ears with your mindset. The money stories we tell ourselves directly impact our ability to build profitable businesses and create wealth and money in our lives. These stories, many of which we accept as fact, a…
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One common mistake I see with business owners who want to make more profit is that they are putting profit last. Profit is what happens to them after all their expenses are paid. But sustainable project requires a Profit First mindset. In this week's podcast, I'm talking about how a Profit First mindset can transform your business. A profit last mi…
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When you hang out with entrepreneurs with a vision for their business, there’s one thing you’re bound to hear them talking about: scaling But there’s a word missing from almost every discussion: PROFIT And profit, not revenue, is the real point of scaling. But for various reasons, all the conversation about scaling centers around revenue. And this …
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This week I'm blowing the lid off one of the biggest myths out there about improving your profit. Profit improvement isn't just about increasing revenue or cutting costs. In this week's episode, I'm sharing 5 much more nuanced strategies that can improve your profit without you hustling to chase more revenue or taking an axe to your expenses. You'l…
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I'm going all Brené Brown on you in this week's episode and talking about shame. Specifically financial shame. Financial shame is costing you money every day in your business. It's keeping you stuck in your business because shame leads to inaction, buffering and continuing on the same path. I hear from clients all the time about how ashamed or emba…
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All businesses need bookkeeping. It's usually one of the first things business owners will outsource. Yet, 90% of all clients that come me have bookkeeping issues. They don't know what they don't know. A good bookkeeper is a huge asset and a key part of your financial team. But it's an unregulated field and business owners often don't know what the…
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Profit isn't just the way your business survives and thrives. It's you you build personal wealth and achieve financial freedom. It's how you invest and grow your business. Profit is how you have an impact. Profit = Impact And profit is personal. Your purpose for your profit is personal to you. Knowing your personal profit keeps you grounded and cen…
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This week's episode is a little different. Since I started my business, I found that a lot of business owners don't really know what a fractional CFO, what they do, or that they were even an option for smaller business. So today, I'm letting you get to know me and giving you an inside look at what I do and how I help businesses. I'll talk about how…
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Cash flow is one of the biggest issues businesses, and my clients, face. 82% of businesses that fail, fail because of cash flow issues. It's the business killer. A pattern of cash flow issues results in not being able to pay your bills or invest in your business. Not to mention the money anxiety that is always running in the background. Here's a li…
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I start this week's podcast episode with a sobering statistic: 82% of all new businesses that fail, fail because of cash flow. Read that again: 82% Businesses with cash flows issues can't pay their bills. And if your business can't pay it's bills, it's on borrowed time. Cash flow funds your operations as well as funds investments to grow your busin…
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In today's episode of Purposeful Profit, I'm getting up on my soapbox. My Profit soapbox that it. As I work more and more with small business owners, I'm seeing an alarming issue that's causing a lot of undue hardship: a focus on revenue without a focus on profit. Many business owners think the key to more money in their pocket is to grow their rev…
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In this episode of Purposeful Profit, I'm explaining the connection between strategy and profit and why you need effective strategy if you want a wildly profitable business. Implementing an effective strategic planning process can up level your business and your profit. Tune in to learn what what strategy isn't and what it is and how to start craft…
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Did you know that we have upwards of 60,000 thoughts a day? And that 85% of them are unintentional. Much of what we think is true is not, it's just a thought or belief we have. And when it comes to money and numbers, we often tell ourselves shitty stories. That's right, your problems making profit start between your ears with the shitty (and usuall…
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If you want a sustainably profitable business, you can't ignore your financial foundation. It's what supports all the upper levels of your business. Without that foundation, your business won't have sustainable profit and might even crash down around you. In this week's episode, I'll explain the 2 parts to financial foundation: know your numbers an…
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Accountants will tell you that revenue - expenses = profit. But that's just the accounting equation and the way we calculate it. But there is way more to profit and it starts before you ever have a sale. There's really three keys to building a wildly profitable business. If you are missing any one of the three of these then you aren't realizing you…
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Marketing, sales and operations are the sexy business functions. Finance is often the neglected stepchild, avoided out of overwhelm, confusion or fear. But if you want a sustainably profitable business that supports your life AND your business, you can't avoid those finances. In today's episode, we're showing finance some love and talking about the…
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Are you planning for profit? Or just letting profit happen? Profit isn't an event, it's a decision. Profitable businesses make profit intentional. In today's episode, we're talking about the #1 mistake businesses make when thinking about profit and 3 things you can do to start making profit intentional so you can build a wildly profitable business.…
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Welcome to the first episode of Purpose Profit with Carla Moats! This is THE place to be if you are a visionary business owner who wants to have an impact AND have a wildly profitable business. Finance and strategy coach and fractional CFO Carla Moats will be your personal financial whisperer as she helps you understand your numbers and build a wil…
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Welcome to Purposeful Profit, the podcast for visionary female entrepreneurs ready to show their finances some love, build wildly profitable businesses and have a bigger impact. DISCLAIMER: The information in this podcast is for informational purposes only and does not constitute an accountant-client relationship. While we use reasonable efforts to…
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