A little about me: I started out in the sciences with a degree in physics. I quickly moved into finance and accounting, which probably tells you something about me. I like numbers, but more than that, I like understanding how things work and solving hard problems. Since then, I have helped scale a company well into eight figures, led across finance and operations, and worked in the trades, both in the field and on the finance and estimating side. That mix has shaped how I think about business. The numbers matter, but only when they help an owner understand what is happening, make better decisions, and take action. Today, through Tablerock Advisory, I help business owners make better decisions, protect cash flow, and understand what is actually driving performance. I write about finance, operations, cash flow, and building stronger businesses.

Nobody can predict the future. The future of the accounting and finance industry feels very uncertain with AI and technology. The only thing you can predict is your ability to pivot when necessary and continue to offer value.

What if they don’t actually raise rates?

Ok. Got the invite for X money. I see people talking about it but don’t know anything. What should I know?

I met with someone that joined a large firm a few months ago to help sell and deliver outsourced and embedded CFO services. He said the highest demand has been full outsourced accounting stack and that the demand for the CFO services has been light. One data point but an interesting one.

A generic P&L is…generic. Make sure yours is set up to give you the information you need to understand your business, make better decisions, and compare performance within your industry.

I think a lot of business owners fall into one of two camps. Either they are good at creating value or they are good at delivering the value. Knowing which one you fall into makes it easier to figure out how to backfill the gaps.

More revenue should mean more money in your pocket. If that’s not happening, why are you growing revenue?

Told my wife today that someone we know is a blowhard. She had never heard the term. See. Even after 25 years we learn new things about each other.

Every business owner has goals. And making more money isn’t always the main focus. (Although sometimes it is.). I often find that it’s usually one of the other 5 types of wealth. Thanks @SahilBloom Depending on where people are in their business and life, their highest priority can be something totally different. Time. Mental. Social. Physical. Etc. The goal is to understand your most pressing goals and figure out to use your business to get there.

Ok @ryanraysr I’m a little late to the party. I’ve been out here grinding on day 1 of the challenge. My goal is to sign 20 new contracts before the end of the year. Lets go!

I’ve met with a few tax CPAs to talk about referral partnership opportunities. Most have an abundance mentality and see opportunities to support clients. Today I reached out to one, who on their website state that they aren’t taking any new clients because they are over capacity. I reached out to see if they would be interested in meeting to see how we could support each other. This was the response I received. Which is fine. It could be for a bunch of different reasons. But it did make me think about how grateful I am for the people I’ve met who have been helpful to me on this journey.

I’m working with a client right now and their books are 6 months behind. Obviously there are a number of concerns here. One thing I will point out is that if you are that behind on your books, and not paying attention, there is a much higher risk for fraud.

Just because you know the language of one discipline, accounting and finance for example, doesn’t make you smarter. Talk like a normal person and don’t try to make people feel stupid.

Going to start reaching out to some ETA owners who recently bought their business. For anyone who recently bought a business, what are the things, from a financial and accounting perspective, that are different than what you expected? And what would be most helpful?

There’s a fine line between fraud and incompetence.

At my old job I used to travel 2-3 times per month for work. Hated being away from my family and the burden it put on my wife with 3 young kids. She’s a rock star though and was always amazing about it. First solo flight today in five months for a quick trip. Weird feeling.