She Means Profit

Maximizing Your Business Value: Five Essential Tips

Have you ever thought of your business as more than just a source of income?In this episode of She Means Profit, I’m diving into the idea of treating your business as a financial asset—one that can appreciate over time and build lasting wealth. Whether you’re planning to sell your business in the future, use it for retirement income, or create a legacy, the steps you take now to increase its value will pay off in the long run.Owning a business isn’t just about short-term gains; it’s about building something that lasts. In this episode, I share five powerful tips to help you enhance your business’s value, including creating strong financials, implementing scalable systems, diversifying revenue streams, building a strong brand, and focusing on customer retention. These strategies aren’t just for those looking to sell but for anyone wanting to maximize their business’s potential. Think of your business like real estate—investing in it now can lead to significant appreciation later.I also touch on how these strategies align with the Profit Method Framework and share insights from my journey. From understanding profit drivers to automating systems and building customer loyalty, this episode is packed with actionable advice to help you create a business that not only supports your current lifestyle but sets you up for long-term success. Tune in to learn how to transform your business into a true financial asset.Black Friday Sale on the Profit Method Framework SuiteIt’s Black Friday week, and for a limited time, all courses in the Profit Method Framework Suite are 20% off!Sale Dates: November 25th – December 1st (11:59 PM PST)Promo Code: HOLIDAY2024BF (all caps)Take advantage of this exclusive offer and invest in your business’s growth. Use the code during checkout to unlock your discount.Listen to learn:‌Treat Your Business as a Financial Asset: View your business like real estate—an investment that can grow in value over time through thoughtful improvements and management.Build Strong Financials: Keep detailed and clean financial records that demonstrate profitability and stability. Manage your margins and understand key profit drivers: pricing, expense management, and sales volume.Create Scalable Systems: Implement processes and automation that allow your business to grow without requiring your constant presence. Develop standard operating procedures (SOPs) to improve efficiency and increase appeal to potential buyers.Diversify Revenue Streams: Avoid relying on a single product or client. Add complementary products, explore new markets, and consider passive income opportunities to reduce risk and increase stability.Links:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCourses:Cash Confident Mindset: Transform Your Mindset into a Money-Making MachineFrom Office to Entrepreneur: What You Need to Know to Build a Successful BusinessPath to Profit With Sales: Insights into Marketing and SalesWork with me: Book a 90-minute Strategy Call Follow me on: IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa

Starting a Business in Your 40s and 50s: Reinventing Yourself Through Entrepreneurship

What if midlife was the perfect time to start a business?In this episode of She Means Profit, I explore why more and more Gen X women are stepping into the world of entrepreneurship. If you’re a woman in your 40s, 50s, or beyond, this episode is for you. We’re talking about reinventing yourself, claiming control over your financial future, and finding personal fulfillment in ways that a corporate job often can’t provide.This topic is especially close to my heart. Recently, my hairstylist, a young woman in her 20s, took a leap and opened her own salon. Watching her take charge of her financial future reminded me of the power and possibility that comes with business ownership. And if she can do it, so can you! Age shouldn’t limit us; instead, our years of experience give us an edge.Starting a business is about more than financial freedom—it’s about creating a legacy, pursuing your passion, and breaking through those glass ceilings. In this episode, I’ll dive into why business ownership can be a powerful path to wealth-building and how it’s helping women take control of their futures. So if you’ve been wondering if now’s the time to start something of your own, this might just be the sign you’ve been waiting for.Listen to learn:‌The Power of Reinvention for Gen X WomenMany Gen X women are moving beyond the corporate world to build businesses that reflect their values and passions. It’s never too late to reinvent yourself!Financial Freedom Through Business OwnershipStarting a business offers financial control and wealth-building potential that can go beyond what a traditional salary provides.Building Generational WealthA successful business can create financial security not only for you but for future generations, allowing you to leave a lasting legacy.Breaking Glass Ceilings and Setting New NormsWomen over 50 are leading the charge in new business creation, changing the landscape of what it means to be an entrepreneur.Importance of Passion and PurposeTo succeed in business, you need to be passionate about your work. This passion will help you persevere through the ups and downs of entrepreneurship.Links:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCourses:Cash Confident Mindset: Transform Your Mindset into a Money-Making MachineFrom Office to Entrepreneur: What You Need to Know to Build a Successful BusinessPath to Profit With Sales: Insights into Marketing and SalesCash Confident Framework: Smart Money Management for Small Business OwnersFrom Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your IndustryCash Catalyst: Mastering Personal Finances for Successful Business OwnersWork with me: Book a 90-minute Strategy Call Follow me on: IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa

Fractional CFO vs. Bookkeeper vs. Tax Accountant: Understanding Key Roles

In this episode of She Means Profit, I demystify the roles of bookkeepers, fractional CFOs, and tax accountants to help business owners understand when and why to hire these experts. Discover how a bookkeeper can manage your daily financial transactions, how a fractional CFO can provide strategic growth planning, and how a tax accountant can navigate complex tax laws.While all three are critical to a thriving business, they each serve different purposes, often at different stages of business growth. Knowing who to call on for your specific needs can save you time, money, and stress. You’ll learn what each role entails and understand when it’s time to bring each into your business – whether for daily financial tracking, strategic growth planning, or navigating complex tax requirements.Let’s break it down! Bookkeepers are your go-to for managing daily financial transactions, including sales and expenses. A good bookkeeper keeps your records accurate and up to date. When you’re looking to grow or improve your cash flow strategy, a fractional CFO steps in to offer senior-level expertise and guidance on big-picture financial decisions. Tax accountants, on the other hand, are the experts in tax compliance, helping you navigate complex tax laws, credits, and deductions. With each role offering specific benefits, I’ll clarify how they complement each other and how to build your ideal financial support team as your business evolves. Plus, I’ll share insights on how to ensure you’re hiring the right experts and setting clear expectations with them.Gain clarity on building a robust financial support system that saves you time, money, and stress, ensuring you hire the right professionals and set clear expectations with them. Perfect for those wanting to streamline their finances and drive business growth, tune in to get valuable insights and personal advice.Listen to learn:‌Learn the distinct functions of bookkeepers, fractional CFOs, and tax accountants and why you need to know their roles.Each role is beneficial at different stages of business growth. Bookkeepers often come first, followed by tax accountants, with fractional CFOs typically joining as a business scales.Introducing my new Fractional CFO Agency, designed to help businesses scale with expert financial guidance.Links:‌ ‌Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessFractional CFO AgencyCourses:Cash Confident Mindset: Transform Your Mindset into a Money-Making MachineFrom Office to Entrepreneur: What You Need to Know to Build a Successful BusinessPath to Profit With Sales: Insights into Marketing and SalesCash Confident Framework: Smart Money Management for Small Business OwnersFrom Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your IndustryCash CataWork with me: Book a 90-minute Strategy Call Follow me on: IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa

Why Personal Finance Matters for Generational Wealth

Are you building wealth that will stand the test of time?In this episode, I'm diving into the final step of the Profit Method Framework: creating generational wealth. If you’ve been following along with the previous steps, you know that building a profitable business is just the beginning. Today, we’re focusing on how to ensure that all your hard work doesn’t just benefit you but continues to support and empower future generations.Generational wealth is more than a bank balance—it’s about creating lasting security and opportunity for your family. In this episode, I’ll break down what generational wealth means and why it’s essential for entrepreneurs. I’ll also share actionable steps on how to effectively manage personal finances, why it’s crucial to diversify investments beyond your business, and how to take advantage of tax benefits to maximize your wealth potential.I’ll talk about the importance of paying yourself first, setting up an emergency fund, and planning for retirement in ways that aren’t entirely dependent on your business. We’re not just discussing profit; we’re talking about creating a legacy that empowers your family and leaves a positive impact on future generations. Tune in to learn how you can turn your business success into a financial legacy that lasts well beyond your working years.Listen to learn:‌What is Generational Wealth? - Understand the concept of wealth that extends beyond one’s lifetime, providing benefits for future generations.Pay Yourself First - It’s crucial to consistently pay yourself as a business owner to avoid creating a financially unstable business.Create Personal Emergency Funds - Having a personal financial cushion is as essential as business cash reserves for navigating unexpected expenses.Strategic Tax Planning - Utilize tax advantages with the help of a tax CPA to avoid leaving money on the table.Invest Outside of Your Business - Expand investments to real estate, stocks, and bonds to build a diversified financial portfolio.Legacy of Opportunity - Financial planning isn’t just for wealth but for ensuring opportunities for future generations.Links:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessCourses:Cash Confident Mindset: Transform Your Mindset into a Money-Making MachineFrom Office to Entrepreneur: What You Need to Know to Build a Successful BusinessPath to Profit With Sales: Insights into Marketing and SalesCash Confident Framework: Smart Money Management for Small Business OwnersFrom Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your IndustryCash Catalyst: Mastering Personal Finances for Successful Business OwnersWork with me: Book a 90-minute Strategy Call Follow me on: IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa

The Power of Influence: Transforming Your Expertise into Impact

Have you ever wondered what it really takes to stand out in your industry and go from simply surviving to truly thriving? In today’s episode, I’m diving into one of my favorite topics—building your influence and establishing thought leadership as a business owner. Influence is step five in my PROFIT Method Framework, and it’s a game-changer when it comes to scaling your business and expanding your reach. This isn’t just about gaining more followers or getting likes on social media posts. It’s about positioning yourself as the go-to expert in your field, the trusted voice people turn to for insights and solutions. When you focus on becoming a thought leader, you open doors to new opportunities—like media features, speaking engagements, and partnerships—that take your business to the next level. To build influence, you have to start by defining your unique point of view—what sets you apart in your industry? Then, create consistent content that amplifies your message, whether it's through blog posts, podcasts, or social media. It’s also about making strategic connections with other leaders in your field and leveraging media coverage to boost your credibility. Thought leadership doesn’t happen overnight—it’s about showing up consistently, sharing your unique perspectives, and building genuine relationships. If you’re ready to make a lasting impact, start today by honing in on your niche, developing a solid content strategy, and networking with intention. Let’s take that step together because your voice has the power to create real change in your industry. Listen to learn:‌Influence is about positioning yourself as a trusted expert, not just gaining visibility.The difference between an influencer and a thought leader lies in providing valuable insights, not promoting products.Building influence opens doors to new opportunities, clients, and collaborations, leading to business growth.Consistency in content creation is key to establishing trust and authority.Strategic networking and collaborations help you grow your audience and expand your influence.Thought leadership is a long-term commitment, but it pays off in business growth and lasting impact.Links:‌ ‌  Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessJoin our She Means Profit Facebook groupCourses:Cash Confident Mindset: Transform Your Mindset into a Money-Making MachineFrom Office to Entrepreneur: What You Need to Know to Build a Successful BusinessPath to Profit With Sales: Insights into Marketing and SalesCash Confident Framework: Smart Money Management for Small Business OwnersFrom Expert to Thought Leader: Amplify Your Influence, Elevate Your Brand, and Lead Your IndustryCash Catalyst: Mastering Personal Finances for Successful Business OwnersWork with me: Book a 90-minute Strategy Call Follow me on: IG: @melissahoustoncpaLinkedIn: @melissahoustoncpa