Justin Krane is a certified financial planner and a money strategist for business owners. He founded Krane Financial Solutions, and frequently guests as a financial expert on popular TV shows such as CBS and Fox Business News. His mission is to help business owners better understand the financial side of their business. In this episode, we talked about cash flow, scaling, revenue generation…
Show notes
- Introducing Justin Krane. [00:30]
- The two questions that Justin asks to really know if a business owner understands their numbers. [03:19]
- Justin talks about the two KPIs to focus on. [04:23]
- What cashflow really means. [05:00]
- Why cancelling your credit card once a year can significantly reduce unnecessary expenses. [07:47]
- How to make sure that you are proactively controlling your expenses. [08:18]
- What context means when it comes to pricing. [09:36]
- The two reasons why businesses have problems with inventory, and ways to workaround them. [11:31]
- Why paying yourself first is important in business. [12:46]
- The first step business owners should take to work on the business instead of in the business. [21:39]
- The many benefits of having service agreements. [23:10]
- The magic payroll ratio that you should maintain in your business. [26:48]
- The ideal time for business owners to think about scaling their business. [28:38]
- The most common mistake that leaders make when they are trying to scale their business. [31:47]
- Two books on Justin’s reading list. [33:37]
- Where to get more information about Justin. [34:33]
- Justin’s most important piece of advice to home service business owners. [36:01]
Resources And People Mentioned:
- Richest Man in Babylon by George S. Clason
- Money. You Got This: Easy to Implement Money Strategies So You Can Take Control of Your Business Finances and Create Your Dream Life by Justin Krane
- You 2: A High Velocity Formula for Multiplying Your .Personal Effectiveness in Quantum Leaps by Prince Pritchett
- Website: CashFlowGift.com
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