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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:

Financial Operations vs. Financial Management Mar 20, 2023

Show notes

In our last episode, I introduced this idea of having someone in your business that is responsible for financial operations. I wanted to expand on that and actually clarify the difference between financial operations and financial management in your business, because they are very different things.

Most business owners don't realize that there is a complexity to the financial side of your business. There's more to it than just tax preparation, bookkeeping, and hiring a CPA and thinking they're going to solve all the problems. There are two core functions, one is financial operations, the other is financial management or oversight.

The financial management and oversight is your strategy. It involves looking at your numbers and operations data and turning that data into decisions. Now, on the flip side, there's financial operations, this is your day to day; making sure we're collecting and paying all the money we need to and that we're recording it properly.

What you'll hear in this episode:

[2:30] The difference between financial operations and financial oversight.

[4:30] The breakdown of members on a financial team.

[8:00] The solution to your blind spots - financial management of day-to-day financial operations paired with financial oversight.

[10:20] What you need to do if you've never had a financial operations team before.

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

* Related episodes:

228. Setting and Measuring Progress Toward Your Business Goals

234. The Best Ways to Customize Your QuickBooks

236. How to Know if Your Overhead is Too Large

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Things You Should Not Hire an Accountant to Do Mar 17, 2023

Show notes

Accountants are insanely valuable and versatile professionals. So much so, that it's actually really confusing what the hell an accountants job is and what it isn't. It can feel like the accountant is the Swiss Army knife to any business solution, but that isn't always the case.

I want to clarify a couple of things, I have a pretty strong opinion about this. I believe that there are certain things accountants just should not be doing for business owners. We implement these boundaries in our practice, there are just some things we will not do for our client, no matter what they pay us, no matter how much we love them. I'm going to share what those things are and why we avoid them.

What you'll hear in this episode:

[1:10] Accountants should be doing certain things for business owners and should not be doing certain other things.

[3:10] If your accountant is holding the checkbook it can turn into a really dangerous financial situation.

[5:00] Protecting yourself against theft and fraud even though the majority of accountants are trustworthy and honest.

[7:15] The Steve Harvey case and the recipe for a potential crime.

[9:16] Payroll: the last thing that accountants should not get involved in if they're hired as an external party.

[11:30] Summing up the three things you should not hire an external accountant to do

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

* Related episodes:

216. The Most Undervalued Trait of an Accountant

232. Growing Your Side Hustle with Nick Loper

239. How Do I Break Up With My Accountant?

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 and Grow You with Chris Felton Mar 16, 2023

Show notes

Your mindset is incredibly important, especially when it comes to your mindset towards your business and life as an entrepreneur. Being able to shift your thinking to the appropriate mindset can help you not only endure the toughest hardships, but grow from them. Chris Felton joins me to unpack how to get your mindset right and explain some of the key points to his new book, "Think and Grow You".

Chris Felton is a bestselling author and 7-figure entrepreneur. Over his 23-year career, Chris has led a team of over 175 agents and they have helped over 17,000 clients, and he's achieved Top 1% status in a company of 50,000+ agents. As a thought leader in the financial services industry, Chris' insights have been featured in major media outlets such as US News & World Report, Market Watch, Yahoo Finance, and Nasdaq to name a few.

Chris is committed to sharing his story and lessons learned from being on the brink of financial ruin and divorce to building one of the most successful financial services firms in the country.

While he's achieved a lot of business success, life is about more than money for Chris. With his latest book and speaking series "Think and Grow You", he focuses on helping driven entrepreneurs break through plateaus in their growth by learning how to get out of their own way and take their success, peace, and impact to the next level.

Check out Chris' Links:

His website: https://chrisfelton.me/

His book: https://chrisfelton.me/book/

* Related episodes: 205. Lessons From 120 Women Leaders with Julia Boorstin 218. How to Cultivate Confidence 223. How to Read Financial Reports as a New Business Owner

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Unlocking the Next Level of Revenue Mar 15, 2023

Show notes

As a business owner, we're always chasing growth, we're always chasing that next thing, it feels like no matter what we do, we're always hungry for that next level. And that's not necessarily a bad thing, but sometimes we can feel like we're starting to plateau when it comes to our income; like we can't break free from a certain level and we're not sure how to unlock that next step.

It can make you feel uncomfortable, stressed out, and worried about the future of your business. A lot of it is self-imposed but it's not your fault! We can be so focused on moving our business forward, that we're not looking around to our surroundings to realize what else is happening. Sometimes all it takes is a fresh perspective to really see what's going on in your business.

If you can't quite figure out how to unlock that next level of revenue, I'm going to walk you through a few simple questions that can help give you a fresh perspective so you can unlock that for yourself.

What you'll hear in this episode:

[1:15] The questions you can ask yourself if you're experiencing limitations.

[3:00] Are you limiting your own capacity by limiting your time?

[5:20] Hiring someone to cover your blind spots.

[7:30] Don't discount yourself when it comes to a high-touch high-value service where your time is insanely valuable.

[9:45] Is your offer profitable? Considering all of the costs included in your offer

[12:30] Spending with intention and awareness.

[14:30] What can happen when you don't have set offers in place.

[16:30] Don't confuse your customer base.

[19:00] Are you missing out on upsell opportunities or extensions?

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

* Related episodes:

218. How to Cultivate Confidence

223. How to Read Financial Reports as a New Business Owner

230. Achieving Excellence as a Coach with Chris Goodman

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Drown Out the Noise and Do Hard Things with Hannah Wells Mar 14, 2023

Show notes

We're all absorbing so much information and advice every single day, from social media, our friends and family, our business colleagues, mentors, and so much more. We're being told constantly what we should be doing. Sometimes as business owners, that's really helpful, because it's in the name of service and the name of helping us. But sometimes it can be really overwhelming and really exhausting. It can cause us to lose or sense of direction and intuition.

When it comes to scaling a business, there is nothing more important than following your intuition and understanding your core values, your brand, and your mission. That's what I've brought Hannah Wells on the show to share with us!

Hannah is partner and COO of Powerhouse Women. She is a personal development junkie who's deeply passionate about showing women what's possible for their lives. She brings her obsession with mindset and her love for business strategy and operations to powerhouse women and the community of women that she serves.

We're talking about how you can scale your business while drowning out the noise to get really clear on what your intuition is telling you! If you're an early stage entrepreneur, you're feeling a little burnt out, or just feeling like you need to relate to someone who's going through what you're going through, this episode is for you!

What you'll hear in this episode:

[2:50] Hannah's background in real estate.

[7:15] The intention this year for Powerhouse.

[12:30] What is scaling? How does it work?

[18:00] How to get into the right mindset to scale your business.

[22:30] Lowering the cost of acquisition with organic marketing.

[25:45] How do you know what to delegate and what to keep?

[30:30] Why you have to do things your way and tune out the noise.

[37:20] Stop living a checklist life.

* Follow Powerhouse Women on IG @powerhouse_women

* Follow Hannah on IG @hannahmwells

* Related episodes:

218. How to Cultivate Confidence

223. How to Read Financial Reports as a New Business Owner

230. Achieving Excellence as a Coach with Chris Goodman

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Recurring vs. Reoccurring Revenue Mar 13, 2023

Show notes

I firmly believe that one of the key components to unlocking scalability in your business is having a recurring revenue model that allows your customers to make purchases from you time and time again. Relying solely on a product or service that generates a one-time sale per customer can quickly lead to burnout. The constant need to market and acquire new customers can be exhausting, making it challenging to grow your business effectively.

We've talked about this before, but the topic of recurring versus reoccurring revenue has been a recent point of interest. In our upcoming discussion, we'll explore the differences between the two revenue models and how each can benefit your business.

What you'll hear in this episode:

[2:15] What recurring revenue is

[4:15] What reoccurring revenue is

[6:00] Both are useful and can be massive for your business but I'm seeing a problem in many businesses; maximizing the value of your customer

[8:45] Turning a reoccurring purchase into a recurring one

* Related episodes:

235. Copywriting Secrets to Convert with Jess Jordana Paxson

240. Facebook Ads Strategies that Work with Daria Kotenko

242. Turning Tweets to Customers with JK Molina

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Knowing Your Numbers: Three Key Dimensions Every Entrepreneur Should Focus On Mar 10, 2023

Show notes

As entrepreneurs, we always get this advice that we need to know our numbers, right? I want to be clear, this advice isn't suggesting you memorize your exact numbers. Yes, we should know some of these things, especially in a product-based business, but I want to talk about the three different dimensions where you should be focusing your attention if you're looking to get to know your numbers a bit better and to start using them to your advantage.

It's really not enough to just categorize your transactions in QuickBooks! A lot of folks assume that getting to know your numbers means getting QuickBooks, making sure you're going in, allocating your transactions every month, maybe you're reconciling your bank statement. Cool box checked, I'm done. Not quite, it doesn't really mean that you have any ownership or mastery of what those things are telling you. Tune in to learn more about the three dimensions and what they mean for your business!

What you'll hear in this episode:

[3:20] What is performance?

[6:25] What is compliance?

[8:05] How to drive results in these different areas.

[10:10] Strategy: the needle mover.

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

* Related episodes:

216. The Most Undervalued Trait of an Accountant

232. Growing Your Side Hustle with Nick Loper

239. How Do I Break Up With My Accountant?

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 Coaching Skills with Lindsay Dotzlaf Mar 09, 2023

Show notes

Lindsay Dotzlaf, the founder of The Coach Lab and Coaching Masters, shares her journey from being a novice in life coaching to mastering coaching skills. With her background in psychology and ability to connect with people, she founded her own coaching business after being coached for a few years.

Lindsay shares her insights on how to articulate the problem that coaches solve and how to meet clients where they are. She also discusses the difference between coaching and therapy and how to master coaching skills.

To build a foundation, Lindsay suggests that coaches need to have empathy, active listening skills, and an ability to ask open-ended questions. She also emphasizes the importance of continuous learning and practicing to reach the level of mastery.

Lindsay also shares her views on how coaching skills can be useful in different professions and what results people can expect from skill development. This episode is a MUST listen for coaches and any service provider who naturally acts as a support system for their clients' businesses!

What you'll hear in this episode:

[1:00] The importance of coaching as a business owner.

[3:30] Who is Lindsey and how did she get into coaching?

[7:05] Coaches struggle with articulating what problem they solve and speaking to clients based on where they are at.

[9:35] How do you distinguish between coaching vs therapy.

[13:48] What it means to be a master coach.

[20:32] Lindsay's outlook on coaching as a service offering.

Find Lindsay on IG @lindsaydotzlaf

Visit her website: lindsaydotzlafcoaching.com

Lindsay's podcast, Mastering Coaching Skills: https://podcasts.apple.com/us/podcast/mastering-coaching-skills/id1539802018

* Related episodes:

163. Your Dream Life is Closer Than You Think with Rob and Kim Murgatroyd

177. The Power of Financial Gratitude During Tough Times

200. Setting and Exercising Effective Boundaries with Woodrie Burich

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 Ways to Increase Revenue Mar 08, 2023

Show notes

We all know that making more money in business is really a function of two key variables, sales and costs. Most of the time, we're really focused on that first number, our sales. Not just calling in the right people getting your messaging right as we've talked about before, but also how to increase your revenue.

If it feels like you're hustling so hard, trying to get new customers in the door and more people buying from you, just know it doesn't have to be this way! I'm diving into the three ways I know you can increase your sales, which ones I prefer, and which ones I think are most sustainable and lucrative for you to spend your time and energy trying to implement.

What you'll hear in this episode:

[1:45] Three key variables that drive sales.

[3:35] Selling to more people and getting more people to buy requires an additional cost of acquisition and fulfillment.

[5:45] How to develop a recurring or reoccurring revenue model.

[7:30] How to increase your revenue.

[9:33] You have to make sure that the market you're selling to can tolerate a higher price point before you raise prices.

[11:20] How raising prices is the best way to increase revenue without increasing costs.

* Attend The CFO Accelerator Live: https://www.thecfoaccelerator.com/shannon

* Related episodes:

235. Copywriting Secrets to Convert with Jess Jordana Paxson

240. Facebook Ads Strategies that Work with Daria Kotenko

242. Turning Tweets to Customers with JK Molina

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 for Freedom with Mike Ayala Mar 07, 2023

Show notes

What's the next level of freedom that you're hoping to unlock? Our individual definitions of freedom are subjective and constantly evolving. I'm thrilled for this conversation because we have the privilege of hearing from Mike Ayala about his journey, how he dared to challenge conventions, and unapologetically forged his path towards financial freedom.

Mike's life experiences have led him to discover what he truly values: the freedom to prioritize his family, nurturing relationships, and the financial means to support that lifestyle. While many entrepreneurs might believe that this kind of freedom is unattainable, Mike and his wife Cara are living proof that with the right mindset and support, anyone can experience true freedom on their own terms.

As a self-described serial entrepreneur, Mike has been involved in over 2000 projects worth over a billion dollars. Nowadays, he helps busy professionals and business owners to attain authentic freedom and live their best lives. Mike is a real estate investor, founder, venture capitalist, and, above all, a devoted father and husband. There's so much to be gained from his wealth of experience!

What you'll hear in this episode:

[1:00] Mike's background in life and in business

[5:00] Why he started a business at age 24

[7:00] What led Mike to exit his business and move into his next season of business and investing

[11:15] The importance of mentors in life and business

[13:30] How he got into real estate investing

[16:45] How you can cultivate mentorship relationships in your life

[19:00] Mike's best advice for investing for freedom

[23:00] What's next for Mike and Cara as they plan to exit their real estate investing era

[28:30] How you can work with them

[29:45] How you can unlock your next level of freedom

* To get more information about Mike & Cara's offerings for couples, text the word COUPLE to (480) 531-7519

* Follow Mike on IG @themikeayala

* Learn more about Velocity Venture Partners on their website: www.velocityventurepartners.com/

* Listen to Mike's podcast, Investing For Freedom: https://podcasts.apple.com/us/podcast/investing-for-freedom-with-mike-ayala/id1498786451

* Related episodes:

218. How to Cultivate Confidence

223. How to Read Financial Reports as a New Business Owner

230. Achieving Excellence as a Coach with Chris Goodman

* Find everything you need at www.keepwhatyouearn.com! https://www.keepwhatyouearn.com/

* Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

* Hire us: https://www.fitnancialsolutions.com/accounting

* See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

* Find me on IG @shannonkweinstein

* Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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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