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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:

Is a Franchise Right for You? with Liz Leonard Apr 02, 2024

Show notes

In this episode, Shannon dives into the world of franchise businesses with expert Liz Leonard. They explore the lesser-known side of franchising, beyond the typical fast food and restaurant models, and discover the wide range of opportunities available in home services, healthcare, education, and more. Liz shares her expertise as a franchise advisor and owner, shedding light on the different types of franchises, the investment required, the skills needed for success, and the key factors to consider when evaluating franchise opportunities. Join us as we uncover the secrets and opportunities of the franchise world with Liz Leonard on Keep What You Earn.

Liz rose through the ranks of the corporate world over a 22-year journey, only to be laid off as a casualty of a merger. As a corporate employee, she had the illusion of security which vanished based on a decision taken by others. That decision afforded her the space to reflect upon what she wanted. She was able to take back control of her future and never put herself in that position again.

Liz now splits her time between running her own business and advising others who are at the same crossroads she was years ago.

Twitter: https://twitter.com/franchisefastInstagram: https://www.instagram.com/franchisefastpass/Facebook: https://www.facebook.com/yourfranchisefastpass Website: http://www.franchisefastpassbook.com

What you'll hear in this episode:

05:00 Franchising extends beyond food to home services.

08:37 Franchise companies focus on the owner's routine.

11:08 Starting a business requires a specific mindset.

13:25 Investment costs vary depending on business type.

16:50 Considering investing in a franchise? Here's advice.

20:03 Overcome fear of starting a business legally.

If you like this episode, check out:

The Power of Diverse Mastermind Groups for Comprehensive Growth

How to Break Free from the Corporate 9 to 5

Best Ways to Negotiate Business Deals

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.

3 Voices You Need to Silence to Succeed Apr 01, 2024

Show notes

In this episode of Keep What You Earn, Shannon delves into the internal voices that entrepreneurs must silence in order to succeed. She identifies three key voices: comparison, overwhelm, and the fear of making someone feel bad. Through personal anecdotes and reflections, Shannon provides insights on the impact of these voices and strategies to silence them. From embracing beginner status to managing overwhelm and learning to say no, the episode delivers valuable advice for navigating the entrepreneurial journey. Tune in as Shannon empowers listeners to take control of their mindset and strive towards success in their businesses.

What you'll hear in this episode:

06:14 Avoid overworking, embrace free space for balance.

08:27 Slow down, schedule free, buffer, focus days.

12:44 Let go of fear to move forward.

14:23 Setting clear boundaries for social and business interactions.

18:55 Prioritize relationships and opportunities for success.

If you like this episode, check out:

Blue Oceans are All Around Us

Never Let Your Scarcity Show

Stop Shrinking Yourself in the Name of Saving

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.

CFO Q&A - Tax Estimates Mar 29, 2024

Show notes

In this episode, Shannon dives into the complex world of tax estimates and how they apply to entrepreneurs. Addressing a question from CFO On Demand, Shannon breaks down the intricacies of paying estimated taxes throughout the year as an S corporation, emphasizing the need to understand the practicalities beyond traditional accounting advice. She offers valuable insights on how to handle fluctuating income and expenses, urging listeners to set aside a portion of their quarterly profit for tax purposes. Shannon also highlights the importance of proactive financial planning and recommends engaging in exercises such as a pro forma to anticipate tax obligations. Ultimately, her advice focuses on empowering entrepreneurs to take control of their finances and make informed decisions. Don't miss this informative episode that provides actionable tips for navigating tax estimates and staying on top of your financial game.

What you'll hear in this episode:

03:39 Guidelines for estimated voucher payments and profit.

07:40 Keep track of fluctuating amounts, be prepared.

10:09 Predict and plan for tax liabilities in advance.

If you like this episode, check out:

Are Quarterly Taxes Necessary For You?

Tax Implications of Digital Product Sales

Determining the Appropriate Salary for an S Corp Owner

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.

Investing in Businesses - What You Need to Know Mar 28, 2024

Show notes

In this episode, Shannon shares her insights on what to consider when investing in businesses. She breaks down the essential questions to ask and factors to evaluate when approached for investment opportunities, providing valuable perspective for both potential investors and business owners seeking capital. From understanding the team and their expertise to assessing financial management and future plans, Shannon's guidance serves as a fundamental checklist for anyone navigating the world of business investments. Tune in to gain expert advice on making informed investment decisions and ensuring your money works for you.

What you'll hear in this episode:

04:23 Evaluate expertise, financial acumen, and strategic positioning.

09:53 Shareholder influence, strategic investment, money usage questions.

11:39 Assess customers, strategy, growth, timeline, goals, exit.

17:30 Negotiate terms, consider investment risks and returns.

If you like this episode, check out:

Pricing Blunders That Could Cost You Thousands

How to Build Trust with Your Customers

Why Just Bumping Up Prices Doesn't Cut It

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.

Cross-Generation Communication in Your Business with Lindsey Pollak Mar 27, 2024

Show notes

Today, Shannon is into the second part of her enriching conversation with Lindsey Pollak, a renowned career and workplace expert. Shannon and Lindsey continue unraveling the complexities and opportunities of cross-generation communication within your business.

Last time, Lindsey gave valuable insights into the shifting career landscape, and today she will explore further the dynamics of a multigenerational workplace. From the corporate giants to the budding startups, careers are no longer linear paths but intricate mosaics that favor adaptability and awareness. Their discussion today touches on the pivotal role of internal mobility and personalized career trajectories that cater to diverse generational aspirations.

Lindsey Pollak is a New York Times bestselling author and a leading career and workplace

expert. She is passionate about helping individuals and organizations thrive in today's ever- changing, multigenerational world of work.

She is the author of four career and workplace advice books including her latest, Recalculating: Navigate Your Career Through the Changing World of Work. Her speaking audiences and consulting clients have included more than 250 corporations, law firms,

conferences and universities.

For six years she served as an official ambassador for LinkedIn, and her advice and opinions have appeared in such media outlets as The TODAY Show, The New York Times, The Wall Street Journal, CNN and NPR.

Lindsey is a graduate of Yale University and is based in New York City.

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

Twitter: https://twitter.com/lindseypollak/

What you'll hear in this episode:

04:02 Challenging career expectations and exploring different paths.

08:03 Generational shift in small business success strategies.

11:13 Challenges with offering non-traditional internship opportunities.

16:17 Understanding and embracing generational differences in communication.

18:50 Preferred communication methods for team members discussed.

20:57 Knowing deal breakers, expressing preferences, communication styles.

24:00 Knowing your deal breakers and adapting flexibly.

26:52 Leaders and business owners should question their "why."

If you like this episode, check out:

Mastering Recruitment: Marketing Strategies with Shannon How My Dad's Advice Shaped My Career and Business Success Is Hiring Your Family the Right Thing to Do?

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.

Appreciating and Working with Other Generations with Lindsey Pollak Mar 26, 2024

Show notes

In today's episode, Shannon dives into the intriguing world of generational differences with guest Lindsey Pollak, a renowned career and workplace expert. Together, they explore the impact of cross-generational communication and the various challenges that arise from miscommunication. Discover the official definitions of different generations according to the Pew Research Center, and gain valuable insights into how generational biases can affect career development, communication, and workplace culture. Join us as we uncover the nuances of understanding and appreciating the unique perspectives of each generation, and learn practical tips for managing diverse teams and businesses across different age groups. Tune in for an eye-opening discussion that will help you navigate and thrive in today's multigenerational world of work.

Lindsey Pollak is a New York Times bestselling author and a leading career and workplace

expert. She is passionate about helping individuals and organizations thrive in today's ever- changing, multigenerational world of work.

She is the author of four career and workplace advice books including her latest, Recalculating: Navigate Your Career Through the Changing World of Work. Her speaking audiences and consulting clients have included more than 250 corporations, law firms,

conferences and universities.

For six years she served as an official ambassador for LinkedIn, and her advice and opinions have appeared in such media outlets as The TODAY Show, The New York Times, The Wall Street Journal, CNN and NPR.

Lindsey is a graduate of Yale University and is based in New York City.

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

Twitter: https://twitter.com/lindseypollak/

Handbook: https://lindseypollak.com/handbook/

What you'll hear in this episode:

03:09 From college RA to career advisor.

07:14 Younger kids are now called gen alpha, micro generations.

09:20 Millennial experience with screens and struggle.

14:48 Fear and insecurity drive feelings of inadequacy.

20:42 Recognize biases, consciously work against them.

If you like this episode, check out:

Mastering Recruitment: Marketing Strategies with Shannon

How My Dad's Advice Shaped My Career and Business Success

Is Hiring Your Family the Right Thing to Do?

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.

What to Track in Your Books Mar 25, 2024

Show notes

Today, Shannon dives into the often overlooked aspect of bookkeeping - the customization and organization of accounts in QuickBooks Online. She shares valuable insights on how to create a chart of accounts tailored to your business, including tips on tracking income and expenses more effectively. As the episode unfolds, Shannon reveals key strategies for maximizing tax deductions and leveraging financial statements to make informed business decisions. Whether you're catching up on your books or looking to enhance your financial tracking, this episode provides practical advice for business owners at any level. So, grab a pen and paper as we delve into the world of bookkeeping and financial management.

What you'll hear in this episode:

03:14 Understanding Quickbooks chart of accounts and organization.

07:22 Detailed tracking should balance simplicity and value.

11:32 Organize expenses to see true profit.

If you like this episode, check out:

What is CFO On Demand?

Taking Money Out of Your Business

How Publishing a Book Affects Your Taxes

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.

Stop Trying to Scale Everything Mar 22, 2024

Show notes

In this episode of Keep What You Earn, Shannon explores the misconception of scaling in business. Providing insights into differentiating between growth and operational efficiency, Shannon emphasizes the importance of understanding when not to scale. Drawing from personal experiences, she encourages entrepreneurs to prioritize genuine connections over automated processes, highlighting the value of personal touch in client relationships. By challenging listeners to simplify their approach and stay true to their brand, Shannon offers a refreshing perspective on scaling that resonates with the heart of entrepreneurship. Tune in as she shares practical advice to guide you in making impactful decisions for your business.

What you'll hear in this episode:

06:53 Prioritize client relationships over superficial metrics for scaling.

10:41 Simplify business, focus on personalized, valuable service.

12:24 Prioritize simplicity, focus on what matters.

If you like this episode, check out:

The Steps to Selling a Business

How to Set a Pattern of Success for 2024

How to Create More Accurate Forecasts

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.

Compensation Plans - Commission or Flat Rate? Mar 21, 2024

Show notes

In this episode, Shannon delves into the complexities of compensation planning, particularly exploring the dilemma of choosing between commission-based or flat-rate compensation plans. Unraveling the intricacies of cash flow forecasts, she provides practical insights and strategic considerations for structuring compensation packages that align with business goals and attract top talent. Drawing from her own experiences and industry knowledge, Shannon presents a compelling case for customizing compensation plans to suit individual roles and organizational needs. Tune in to gain valuable tips for making informed decisions and optimizing your business's financial health.

What you'll hear in this episode:

04:49 Structure compensation based on direct revenue impact.

07:51 Hybrid base plus commission model for sales.

13:34 Commission-based work can simplify implementation. Flat rate or unit-based payment may be easier. Triple your time estimate for others.

17:04 Move away from hourly billing to a flat rate.

If you like this episode, check out:

Is Hiring Your Family the Right Thing to Do?

Mastering Recruitment: Marketing Strategies with Shannon How My Dad's Advice Shaped My Career and Business Success

Want to learn more so you can earn more?

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

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.

Mastering Facebook Ads and Paid Content with Peter Vander Wall Mar 20, 2024

Show notes

Today, Shannon continues her discussion with guest Peter Vander Wall about the intricacies of paid content, specifically focusing on Facebook ads. Shannon and Peter delve into the different strategies for using paid content to the advantage of professional service firms and provide valuable insights into creating paid content that converts. They explore the nuances of direct response funnels and social funnels, shedding light on the effectiveness of each approach. Additionally, they discuss the importance of understanding audience pain points and desires to craft compelling ad content. Peter shares his predictions on the future of social media marketing, emphasizing the significance of targeting micro-niches to stand out in an oversaturated market. Throughout the conversation, practical advice and actionable tips are offered to help entrepreneurs navigate the complex world of social media advertising. Tune in for valuable insights from Peter Vander Wall as he expertly navigates the complexities of Facebook ads and paid content.

Peter is a marketing consultant specializing in helping professional service firms scale their client acquisition. He started out as a content creator for a real estate CPA firm, helping them add multiple 7 figures of revenue over 2 years. Now he's taken the lessons learned along the way and helps other professional service firms do the same.

Instagram: https://www.instagram.com/petervndr/?hl=en YouTube: https://youtube.com/@petervndr?si=ixIeNBBxbYUkz8BG

What you'll hear in this episode:

06:31 Discussing short-term vs long-term marketing strategies.

09:26 Paid ad mirrors best organic content with money. 12:39 Facebook's automatic targeting is highly effective.

13:34 Use lookalike audience for precise targeting.

17:23 Focus on profitability and attracting the right audience.

If you like this episode, check out:

Pricing Blunders That Could Cost You Thousands

How to Build Trust with Your Customers

Why Just Bumping Up Prices Doesn't Cut It

Want to learn more so you can earn more?

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

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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