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Keep What You Earn — Business
Keep What You Earn

Keep What You Earn is the podcast for aesthetics and wellness practice owners who want to scale profitably and build a business that is actually worth something.

Hosted by Shannon Weinstein, CPA and Fractional CFO, this show is designed for med spa owners generating $1–5M in revenue who are ready to move beyond reactive decision-making and into disciplined, strategic growth.

If you’re trying to break past the $2M ceiling, improve cash flow predictability, increase margins, open additional locations, or prepare your practice for a future sale, this podcast gives you the financial clarity to do it confidently.

Each episode focuses on the financial building blocks that determine whether your practice scales smoothly or stalls under pressure, including pricing discipline, operating margin control, cash flow forecasting, customer lifetime value, and enterprise value planning. This isn’t about more spreadsheets. It’s about financial leadership.

Whether you’re preparing for expansion or positioning your practice to sell, Keep What You Earn helps you think like a CFO and operate like a CEO.

[Disclaimer: Any opinions, recommendations, and tips offered on this podcast or other social media forums do not constitute individual tax or accounting advice. This content is designed to provide education and awareness about financial topics and responsibility for the benefit of the general public. Please consult a professional before implementing any of the suggestions made by Shannon or Keep What You Earn Co.]

Copyright: © 2021 All rights reserved Fitnancial Solutions.

Latest Episodes:

Shannon's Appearance on "The Unapologetic Entrepreneur" with Amanda McKinney Dec 27, 2024

Show notes

Today, Shannon shares her appearance on The Unapologetic Entrepreneur with Amanda McKinney. This episode dives into effective and efficient content creation strategies that help capture and expand creative ideas without the overwhelm.

Listeners will hear Shannon discuss her unique approaches, such as "lazy content efficiency," capturing spontaneous thoughts for social media, and differentiating between content creation and production. The episode also covers the significance of authenticity, maintaining a balanced yet structured schedule, wisely outsourcing tasks, and leveraging slower periods for advanced planning.

For entrepreneurs looking to enhance their content strategy while juggling the demands of their business, this episode offers practical tips to stay inspired and productive. Tune in to discover how to maximize creative output with minimal effort and truly "keep what you earn." Let's get started! Listen to Amanda's new podcast, "Accountable" here: https://podcasts.apple.com/gb/podcast/accountable/id1778507645 What you'll hear in this episode: 04:51 Fractional CFO guiding business finances and podcasting.

07:56 Value is planning-driven, not time-driven.

10:41 Focus on one platform for faster growth.

15:34 Remember beginnings to appreciate progress and celebrate.

16:20 Overcoming obstacles by breaking down overwhelming ideas.

22:22 Capture and expand ideas quickly; revisit later.

25:39 Capture ideas during flow state for expansion.

29:12 Share idea simply, authentically, then leave.

29:42 Focus less on perfection; just start creating.

34:33 Create long form content: blog, podcast, YouTube.

38:17 Ensure channels align with goals and impact.

41:46 Podcast is epicenter; content spreads to platforms.

42:33 Feedback-driven content evolves with audience engagement.

46:27 Q&As recorded for free, now repurposed content. If you like this episode, check out: Boosting Business with Better Client Care

Acquire Cheaper and Better Customers (Financial Priority Formula Part 3)

Simplifying Sales Strategy Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Are You Considering Moving to a Tax-Free State? Dec 26, 2024

Show notes

In this episode, Shannon delves into the popular topic of relocating to a tax-free state. She explores the potential benefits, hidden costs, and vital lifestyle considerations one should evaluate before making such a significant move. Whether listeners are considering states like Florida, Texas, or others with no income tax, Shannon provides insights to ensure their decisions are based on more than just tax savings. Get ready to rethink strategies and make informed choices that truly benefit life and business. What you'll hear in this episode: 01:24 States with no income tax; other taxes apply.

04:08 Consider convenience, resources, and potential travel costs.

07:13 US tax system preferred over Costa Rica's complexity. If you like this episode, check out: Business Travel Expenses Made Easy

The Truth About IRS Agents and Getting Audited

End-of-Year Financial Prep: Three Essential Steps for Business Owners Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Shannon's Appearance on "Profit First for Real Estate Investors" with David Richter Dec 23, 2024

Show notes

Today's episode delves into Shannon's recent appearance on David Richter's "Profit First for Real Estate Investors" podcast.

Listeners will explore key takeaways from the conversation, including the importance of understanding business financials, the concept of paying oneself first, and breaking down complex financial topics into simple, actionable advice. David, the host of "Profit First for REI," discusses with Shannon why many entrepreneurs struggle with appropriate self-compensation and how Shannon's journey—shifting from a would-be Spanish teacher to running her own successful accounting firm—informs her mission to educate growth-minded business owners.

The episode also touches on Shannon's experiences with corporate dissatisfaction, her transition to launching her own practice, and her drive to foster financial clarity among her clients. Emphasizing the power of podcasting in knowledge sharing, this episode offers practical steps for ensuring a business's financial health. Listen to "Profit First for Real Estate Investors" podcast here: https://podcasts.apple.com/us/podcast/profit-first-for-real-estate-investors/id1526029555

What you'll hear in this episode: 06:01 Realized teaching gift; started firm and podcast.

07:49 Early lesson: Invest in stocks, not toys.

10:23 Realized importance of clear, non-judgmental communication.

16:14 Business thrived remotely during 2020's opportunities.

18:22 Helping growth-minded, goal-focused business owners simplify finances.

22:48 Transitioning to an in-house bookkeeping team.

26:01 Pay yourself first to avoid business pitfalls.

28:11 Increasing salary to match employee compensation.

32:54 Guide growth-minded owners, emphasize paying yourself first. If you like this episode, check out: My Most Expensive Mistakes

What Taylor Swift Taught Me About Business

Mastering Abundance Mindset Want to learn more so you can earn more? Join Gusto today and get a $100 Visa Gift Card Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Upcoming Changes to the Podcast in 2025 Dec 20, 2024

Show notes

Today's episode features Shannon discussing exciting changes coming to the show in 2025. Shannon will share updates including a shift to three episodes per week, adjustments to the approach for guest interviews, and the introduction of varied content formats aimed at better serving dedicated listeners. She's eager to hear feedback on these changes, so listeners are encouraged to reach out on social media. Additionally, the episode teases future content that will focus on more advanced business strategies and solutions. Tune in to discover what's next for Keep What You Earn! What you'll hear in this episode: 01:02 Focusing on value, fewer but richer episodes.

05:21 Expanding content: interviews, client calls, business growth. If you like this episode, check out: My Most Expensive Mistakes

How Living in Costa Rica Changed My Mindset

What Taylor Swift Taught Me About Business Want to learn more so you can earn more? Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4 Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Key Advice for Starting a Partnership Dec 19, 2024

Show notes

In this episode, Shannon explores the complexities and challenges of business partnerships. She explains essential concepts like aligning equity with effort, guaranteed payments, and the importance of complementary skill sets.

Shannon also discusses alternative business models to avoid common pitfalls, aiming to keep business relationships more professional and less conflict-prone. Whether you're considering a partnership or are already in one, this episode offers valuable insights for navigating this tricky landscape. Tune in to gain practical tips and make informed decisions for your business journey. What you'll hear in this episode: 04:04 Distributions should align with ownership, unlike salaries.

07:04 Align equity to effort in business partnership.

13:18 Partnerships complicate life; independence offers freedom.

14:43 Joint ventures enable flexible business collaboration initiatives. If you like this episode, check out: Managing Business Dynamics with a Partner

Start with This Financial Metric (Financial Priority Formula Part 1)

What Are the 3 Things You Need to Know Before Buying a Business? Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Why I'm Not Investing in a Mastermind This Year Dec 18, 2024

Show notes

In today's episode, Shannon shares why she's made the unconventional decision to not invest in a mastermind or coaching community for 2025. Instead, Shannon is turning her focus inward, prioritizing the growth and development of her team. She reflects on the valuable lessons learned from past masterminds and how bringing her team along on this journey is more crucial than ever. Shannon also reveals her exciting plans for the first-ever company off-site, emphasizing the importance of connecting and learning together. Whether you're a solo entrepreneur or leading a team, this episode is packed with insights on how to invest in your team's success. Stay tuned for an inspiring conversation about team building, mentorship, and creating a collaborative work environment. What you'll hear in this episode: 04:55 Hosting cost-effective team retreat with influential speakers.

07:42 Invest in employee growth to support company culture. If you like this episode, check out: My Most Expensive Mistakes

How Living in Costa Rica Changed My Mindset

What Taylor Swift Taught Me About Business Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

How Katie Savarise Built a Culture, Not Just a Brand Dec 17, 2024

Show notes

Today's episode features Katie Savarese, founder and CEO of Nova, a leading project management company.

Katie discusses transitioning from a background in mechanical engineering and a role at Uber to creating Nova. She emphasizes the importance of a strong team culture, financial preparedness, and innovative cash flow management. Discover how hiring a fractional CFO provided strategic financial support, allowing Katie to focus on growth.

Listeners will gain valuable insights into building a company culture, understanding financials, and proactive planning. Tune in for an enlightening conversation with Katie Savarese that could transform your business approach. Katie is the Founder and CEO of NOVA, a woman-owned project management firm that specializes in renovations and large-scale developments, particularly those adjacent to sports arenas and entertainment venues. Prior to starting NOVA, she led Uber's Global Event Operations team for 7 years where she learned the importance of transportation logistics to designing developments. Katie has a passion for building strong teams that are focused on creatively solving problems and delivering impressive results.

Website: www.teamnovas.com What you'll hear in this episode: 05:43 Started Nova, renovated White Sox visiting bathroom.

09:11 Grateful mindset enables confident career decisions.

12:43 Creating jobs inspires and carries significant responsibility.

14:32 Team-centric approach prioritizes clients and rewards employees.

18:04 Young COO learned finance through hands-on experience.

22:16 Know challenges, make informed decisions, reduce stress.

26:14 Friend recommended Shannon; realized need for fractional CFO.

29:30 Unexpected expenses challenge; strategic planning offers relief.

30:27 S Corp setup saved us significant tax money.

36:11 Focus on long-term planning for small business. If you like this episode, check out: Hiring Contractors vs. Employees - Pros and Cons

The Silent Business Killer

Authentic Hiring: Showcase Your Values Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Horizontal vs. Vertical Integration: When to Use Which Dec 16, 2024

Show notes

In this episode, Shannon breaks down the concepts of horizontal and vertical integration, essential strategies for business growth. Horizontal integration involves expanding by merging with competitors, like Facebook acquiring Instagram. Vertical integration focuses on acquiring suppliers or distributors, such as Amazon taking over Whole Foods. Through real-world examples and insights, Shannon explains the benefits and challenges of each approach, helping listeners understand how to leverage these strategies for their own business success. Tune in to learn more about scaling efficiently and effectively. What you'll hear in this episode: 03:07 Scalability, integration challenges, immense growth, regulatory scrutiny.

09:09 Vertical integration controls risk, demands strategic focus. If you like this episode, check out:

The Most Valuable Currency to an Entrepreneur

Essential Phases in Selling Your Business

Become the Director, Not the Lead Actor

Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

The Five Steps to Selling Your Business Dec 13, 2024

Show notes

In today's episode Shannon offers invaluable guidance for entrepreneurs contemplating an exit strategy. Shannon breaks down the comprehensive process of selling a business into five essential steps—from clarifying goals and obtaining a valuation, to optimizing operations, understanding risk management, identifying the right buyer, and mastering the art of negotiation. Whether listeners are looking to sell their company, scale it, or buy out a partner, this episode provides actionable insights and expert advice to help navigate this complex journey. So, grab a notepad and dive into the steps to ensure a smooth, profitable, and strategic business sale. What you'll hear in this episode:06:13 Build trust, maintain data, ensure legal structure.

09:27 Client dependency risks business stability post-sale.

10:59 Over-reliance on key employees hampers business transition.

14:15 Negotiate terms; prioritize trust and risk management.

16:54 Decide clearly what you want before accepting. If you like this episode, check out: The Most Valuable Currency to an Entrepreneur

Essential Phases in Selling Your Business

Become the Director, Not the Lead Actor Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Understanding Bonus Depreciation and Recapture Dec 12, 2024

Show notes

In today's episode, Shannon delves into the intricacies of bonus depreciation and the often-overlooked aspect of depreciation recapture. This episode aims to demystify these terms and explain why they might be more about tax deferral than tax elimination. Listeners will gain a clear understanding of how these deductions can impact them, particularly when it comes to selling a business or its assets. Through actionable tips and in-depth insights, Shannon empowers entrepreneurs to make informed decisions about managing their assets and optimizing their tax strategies. Tune in to make the financial side of your business a bit more enjoyable and comprehensible. What you'll hear in this episode:05:34 Consult your tax advisor before selling assets.

06:47 Discuss depreciation recapture impact with tax professional. If you like this episode, check out: The Truth About IRS Agents and Getting Audited

End-of-Year Financial Prep: Three Essential Steps for Business Owners

The Truth About Tax Savings and Strategies Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

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