The Importance of Understanding Your Business Numbers with Andrea Jenson
Andrea Jenson is the founder of The Cash Flow CFO - the female entrepreneur’s solution to making more money and having more freedom. They also offer virtual services like bookkeeping, tax support, and financial training. She is an investor, and she understands first-hand what business owners need in order to grow their business. Before opening her own firm, Andrea ran a corporate accounting department for both public and private organizations. She has worked with venture capitals, and multi-million dollar online and offline businesses. Her ultimate goal is to empower women business owners to competently own their finances.
Her parents and grandparents are entrepreneurs and so this is what she decided to take during her college education. Then she learned the language of accounting and picked it up quickly. She then decided to marry the two, entrepreneurship and accounting and built her own firm. She used her corporate knowledge and incorporated this to small to medium businesses.
Here are the key points in our discussion with Liam:
The importance of a big picture plan — look at what’s working and use that to plan for the future.
Why you must consider working smarter and not harder.
When you might need a CFO for your business.
Bookkeeper, Tax preparer, CFO, Administrative support are all equally important but very different roles.
Why you should let go of what’s not performing, whether it be a product, a service, a team member or a client.
How the cash flow funnel helps their clients in their businesses.
“Business is a big puzzle.”
Remember: The business is its own entity. You’re just a steward of it.
“Your business is not a reflection of you.”
Tip for business owners: Be clear on what your goal is and break it up to every KPI of your business and inform your team about it.
Keep in mind that numbers are your friends and they’re there to help you and your business.
Contact them by sending an email to email@example.com.
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