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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:

How to Financially Grow as a Nonprofit with Stephanie Skryzowski Aug 06, 2024

Show notes

In today's episode, we dive deep into the financial intricacies of running a nonprofit with our expert guest, Stephanie Skryzowski. As a CPA and fractional CFO specializing in the nonprofit sector, Stephanie brings a wealth of knowledge about the unique challenges and opportunities that nonprofits face. From debunking common myths about nonprofit finances to providing actionable advice on managing cash flow, fundraising, and compliance, Stephanie sheds light on the vitally important but often misunderstood financial side of nonprofit management. Whether you're an entrepreneur considering starting a nonprofit or a seasoned nonprofit leader seeking ways to optimize your financial strategy, this episode is packed with insights to help you grow your impact and your bottom line. Join us as we uncover the essential financial practices that can take your nonprofit to the next level.

Stephanie Skryzowski is a visionary Chief Financial Officer who helps nonprofit leaders better understand and use their numbers to make smart decisions to grow their bottom line and their impact. She is the Founder and CEO of 100 Degrees Consulting which provides financial strategy and bookkeeping services to nonprofits around the globe.

LinkedIn: https://www.linkedin.com/in/stephanieskryzowski/

Instagram: https://www.instagram.com/stephanie.skry

Business Instagram: https://www.instagram.com/100degreesconsulting/

Website: https://100degreesconsulting.com/

Stephanie's forecasting template: https://100degreesconsulting.com/cash

List of the best tools for nonprofits: https://100degreesconsulting.com/tools

What you'll hear in this episode:

05:15 Transitioned from law to nonprofit accounting career.

07:40 Embracing change, seeing opportunities beyond comfort.

10:53 Excited to learn and debunk nonprofit myths.

14:34 Nonprofit funding often comes with restrictions.

16:33 Cash flow affects talent, mission, and survival.

20:41 Discrepancy in cash and accrual accounting explained.

If you like this episode, check out:

Takeaways from Steps for Success with Junior Achievement

What's the Best Way to Pour Money Into Your Business?

Introducing Money to Kids: Where Do You Start?

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.

How to Prepare to Sell Your Business Aug 05, 2024

Show notes

In today's episode, we're diving into a topic that can evoke a mixture of excitement and anxiety for many business owners: preparing to sell your business. Drawing from personal experience and professional insights, I'll share essential steps to ensure you're ready when the time comes to make an exit. We'll explore the importance of documenting standard operating procedures (SOPs), building contingency plans, and tightening up your financials. Whether you're planning an imminent sale or just want to be prepared for future opportunities, this episode is packed with actionable advice to help you maximize the value of your business.

What you'll hear in this episode:

05:29 SOP documentation and training library impact business sale.

08:26 Create contingency plans for Internet outages.

11:51 Expert business analysis and preparation for investors.

If you like this episode, check out:

This Could Be the Most Expensive Sales Mistake You Make

Stop Doing This to Your Customers

How to Integrate Business Development Into Habits

Want to learn more so you can earn more?

CFO On Demand click 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.

Are You Overspending on Networking? Aug 02, 2024

Show notes

Today we're diving into a critical question that every entrepreneur needs to consider: Are you overspending on networking? While networking groups can be fantastic for business growth and connections, there's a fine line where the cost may outweigh the benefits. In this episode, we break down how to evaluate whether a networking group is worth your time and investment. We'll explore how to identify the right communities, the importance of adding consistent value, and the power of being in aspirational environments. Plus, I'll share practical tips on measuring success within these networks. So if you're ready to optimize your networking strategy and get the best bang for your buck, this episode is for you.

What you'll hear in this eisode:

04:57 Building a valuable, expansive network for success.

06:28 Powerful sessions: Clarifying, revealing, and personalized experiences.

If you like this episode, check out:

When to Invest in Premium Products and Services

Do I Sell More or Spend Less?

How Do I Avoid Payment Processing Fees?

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.

Strategies to Minimize Payment Processing Fees Aug 01, 2024

Show notes

In today's episode, we dive into a hot topic that frustrates many business owners: payment processing fees. Whether you use Stripe, Square, PayPal, or another service, those pesky 3% charges can feel like a thorn in your side. But what if we told you there's a smarter way to look at it? We'll explore why these fees are actually an investment in your business, how embracing them can boost your sales, and why shifting your mindset can make all the difference. Stick around as we unpack practical strategies and insights to help you minimize these fees and maximize your profits.

What you'll hear in this episode:

05:27 Encouraging credit card use for online businesses.

07:27 Payment processing fees are part of business costs.

If you like this episode, check out:

Do I Sell More or Spend Less?

Is Productivity the Same as Profitability?

Building a Business with Exit Strategy in Mind

Want to learn more so you can earn more?

CFO On Demand click 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.

Replacing Yourself is Easier Than You Think with Christine Nicholson Jul 31, 2024

Show notes

In today's continuation of our conversation with Christine Nicholson, our multi-award-winning expert in exit and succession planning, we delve deeper into the transformative process of replacing yourself in your business. Christine and I break down the statistics on why many businesses fail to sell and explore the strategic steps you can take to build a more valuable and sellable enterprise. We examine the power of standard operating procedures (SOPs), guiding principles, and the importance of onboarding and training your team correctly. Christine shares practical tips on getting started with your exit planning with just 15 to 30 minutes a day, and we discuss the delicate balance of maintaining control while empowering your team. If you're an entrepreneur looking to future-proof your business, this episode is packed with actionable advice you won't want to miss.

Christine Nicholson is multi-award winning and seasoned expert on exit and succession planning in owner managed businesses including employee ownership, exit options and getting out of your own way. She's the author of 4 books that give practical advice on running better businesses. she's lived and worked in 10 countries and exited dozens of businesses generating hundreds of millions of value

Get your copy of "Sell it!" here: https://christinenicholson.co.uk/books/

Website: www.christinenicholson.co.uk

LinkedIn: https://www.linkedin.com/in/christine-nicholson/

Facebook: https://www.facebook.com/christine.nicholson.146/

What you'll hear in this episode:

05:31 Documenting processes on a plane without internet.

08:24 Following process enhances rather than restricts creativity.

10:18 Create recipes, leave room for customization.

13:26 Checklist system improves medical procedures and collaboration.

17:24 Invest in training to retain talent effectively.

If you like this episode, check out:

Strategies for Managing Remote Teams

Mastering Recruitment: Marketing Strategies with Shannon

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.

Why You Want to Give Away Control in Your Business with Christine Nicholson Jul 30, 2024

Show notes

Today, Shannon is joined by guest Christine Nicholson, an expert in exit and succession planning. Together, they discuss the essential transition from running day-to-day tasks to fully embracing the owner role in your business.

Listen in as Shannon shares her journey from employee to fractional CFO, and Christine explains the importance of self-awareness, documenting goals, and delegating tasks to increase business value. Learn why giving up control can lead to greater freedom and growth, and hear real-life success stories of business owners who thrived by letting go.

Christine also offers valuable advice for early-stage entrepreneurs to protect and enhance their business, even in unforeseen circumstances.

Christine Nicholson is multi-award winning and seasoned expert on exit and succession planning in owner managed businesses including employee ownership, exit options and getting out of your own way. She's the author of 4 books that give practical advice on running better businesses. she's lived and worked in 10 countries and exited dozens of businesses generating hundreds of millions of value

Get your copy of "Sell it!" here: https://christinenicholson.co.uk/books/

Website: www.christinenicholson.co.uk

LinkedIn: https://www.linkedin.com/in/christine-nicholson/

Facebook: https://www.facebook.com/christine.nicholson.146/

What you'll hear in this episode:

04:09 Perceived control impacts business value and worth.

09:16 Business owners must document and share goals.

11:50 Business ownership brings freedom and joy.

13:48 Clear job roles lead to joyful work.

17:55 Fear of success leading to interference in business.

23:02 Plan for unexpected events to protect business.

24:30 Create a will, plan for business continuity.

31:18 Clients must consider business value from buyer's perspective.

If you like this episode, check out:

Strategies for Managing Remote Teams

Mastering Recruitment: Marketing Strategies with Shannon

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.

Think Twice Before Forming a Multi-Owner Business Jul 29, 2024

Show notes

In this episode, Shannon dives into the intricacies and potential pitfalls of forming a multi-owner business. Drawing from her experience in assisting clients through partnership buyouts and business breakups, Shannon shares invaluable advice on what to consider before committing to a multi-member LLC or partnership. She stresses the importance of having a "prenup" or partnership agreement in place and explores alternative structures for those looking to start a business collaboratively. Shannon's insights aim to help entrepreneurs make informed decisions to safeguard their business relationships and ensure smoother operations.

What you'll hear in this episode:

05:19 Detailed and humorous roommate agreement with strict rules.

06:30 Importance of autonomy in living and business.

12:04 Independence in relationships, shared skills, business.

13:15 Fitness and nutrition professionals can form partnerships.

If you like this episode, check out:

Moving to a Tax-Free State - Worth it?

A Shortcut to Business Travel Deductions

What They Never Tell You About Depreciation

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.

The Framework for the Perfect Offer Jul 26, 2024

Show notes

In today's episode, we're diving deep into the framework for creating the perfect offer for your business. We'll cover everything you need to know about understanding and optimizing your profit margins without getting bogged down by complicated equations. From assessing the effort it takes to sell and fulfill your services to identifying scalable offers, we'll guide you through plotting your offerings on a simple yet effective grid. By the end of this episode, you'll know how to pinpoint and eliminate cash guzzlers and focus on high-margin, scalable opportunities that can exponentially grow your business.

What you'll hear in this episode:

05:08 Avoid high effort, low price cash guzzlers.

07:08 Maintain balance in high-effort sales offers.

11:03 Evaluate financials monthly, align time and energy.

If you like this episode, check out:

This Could Be the Most Expensive Sales Mistake You Make

Stop Doing This to Your Customers

How to Keep High Margins as a Franchisee

Want to learn more so you can earn more?

CFO On Demand click 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.

"Wealth Unleashed" Interview with Mel Abraham Jul 25, 2024

Show notes

In today's episode, we're thrilled to feature a dynamic conversation between our host, Shannon, and Mel Abraham, author of "How to Build Your Money Machine."

Join us as Mel emphasizes the importance of optimizing cash flows, earnings, and value to create a robust "money machine." We'll explore the crucial communication gap between business owners and financial professionals, and how simplifying financial language can make education relatable and actionable. Shannon breaks down the concept of a fractional CFO, offering high-level financial expertise without the full-time price tag.

Together, Shannon and Mel stress the need for forward-thinking financial strategies that anticipate future outcomes and help business owners make data-driven decisions. We'll discuss how connecting financial data to personal goals can drive solid money decisions and how professionals can act as navigators, guiding you towards financial success.

Mel Abraham is a dynamic individual transitioning from the confines of a traditional corporate environment to a more impactful role in financial consulting. Initially entrenched in a "stuffy corporate" setting, similar to many of his peers, Mel recognized a deeper calling that urged him to explore beyond conventional boundaries. Embracing the role of a fractional CFO, he now leverages his experience to guide others on their financial journeys. Mel's story is one of recognizing the limitations of the familiar and bravely stepping into a path filled with greater purpose and potential.

Get Mel Abraham's "Building Your Money Machine" here: www.yourmoneymachinebook.com

What you'll hear in this episode:

04:12 Helping business owners understand their numbers is crucial.

08:28 Track business data for growth and pivots.

12:03 Pattern recognition crucial for achieving financial goals.

14:22 Importance of advisors in guiding future decisions.

17:25 Communication stalemate between business owner and accountant.

20:37 Simplify education to relate to real life.

25:34 Minimize risk and ensure predictable cash flow.

If you like this episode, check out:

Do I Sell More or Spend Less?

How Do I Avoid Payment Processing Fees?

Is Productivity the Same as Profitability?

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.

Creating Clients for Life with Racheal Cook Jul 24, 2024

Show notes

Today, we have part two with Racheal Cook, founder of CEO Collective and host of "Promote Yourself to CEO." We're diving into client lifetime value and marketing strategies to turn clients into lifelong supporters.

Racheal discusses targeting clients with varying awareness levels, offering boutique-style services, and creating a focused client experience. We'll share our personal stories of transforming our business models by honing in on ideal clients, and Racheal introduces an exercise to identify these valuable clients for effective marketing.

As an award-winning business strategist, Host of the Promote Yourself to CEO podcast, and Founder of The CEO Collective, Racheal Cook is on a mission to end entrepreneurial poverty for women. Over the last 15 years, she has helped thousands of women entrepreneurs design profitable businesses without hustle and burnout. A sought after speaker on entrepreneurship, marketing, and productivity, Racheal has been featured by the US Chamber of Commerce, Forbes, Inc, Fast Company, and Female Entrepreneur Association.

90 Day CEO Sustainable Success Series: https://go.theceocollective.com/90-day-ceo-success-path

Facebook: https://www.facebook.com/racheal.cook/

Instagram: https://www.instagram.com/racheal.cook/

TikTok: https://www.tiktok.com/@rachealcookmba

Website: https://theceocollective.com/

What you'll hear in this episode:

06:25 Emphasizing solving specific problems for clients effectively.

09:48 Deep client relationships, customized service, limited count.

13:03 Upgrade to attract and respect ideal clients.

16:01 Shifted focus to small business owners' success.

18:38 Differentiate business to avoid being a commodity.

20:14 Understanding people's hopes, fears, and desires.

23:46 Attention to client needs crucial for marketing.

If you like this episode, check out:

This Could Be the Most Expensive Sales Mistake You Make

Stop Doing This to Your Customers

How to Keep High Margins as a Franchisee

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.

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