Episode 10: Your relationship with money as a business owner

Summary

In this episode, Leah and Aminder discuss the intricate relationship business owners have with money, exploring various approaches to growth, the concept of sustainable growth, and the importance of running lean to achieve higher profit margins. They share personal experiences and insights on how their backgrounds influence their financial decisions and strategies for business success.

Takeaways

• Every business has its own trajectory and growth plan.There are different avenues for business growth: slow vs. rapid.

• A frugal approach can lead to sustainable growth.

• Understanding your expenses is crucial for profitability.

• Your relationship with money is shaped by your background.

• Sustainable growth means balancing revenue and expenses.

• Investing in your business should be strategic and calculated.

• Running lean can help lay a foundation for higher profit margins.

• Revenue growth should not come at the expense of profit.

• Your mindset around money influences your business decisions.

Thanks for listening!

— Leah & Aminder

Our Contacts:

Website: TheAccountingEdit.com

Aminder's Links:

Website: sequoia-cpa.com

Instagram: @sequoiacpa

LinkedIn: linkedin.com/company/sequoia-cpa

Leah's Links:

Website: orca-accounting.com

Instagram: @orcaaccounting

LinkedIn: linkedin.com/in/leahmccool

Key words: business growth, sustainable growth, relationship with money, accounting, profit margins, lean startup, financial psychology, entrepreneurship, cash flow, investment