Show notes
In this episode of Building the Premier Accounting Firm, Ahuva Gruen, a seasoned fractional CFO, shares her journey from a young entrepreneur to a financial expert, offering insights on differentiating bookkeeping, accounting, and CFO services. She emphasizes the importance of strategic financial management for business growth and profitability. Key Takeaways: Differentiate between bookkeeping, accounting, and CFO services to provide tailored solutions. Optimize the "Four P's" (People, Processes, Profits, Products) to identify and address pain points in a business. Implement key performance indicators (KPIs) such as net profit, gross profit, and cash flow to monitor financial health. Prioritize client communication and accountability for effective implementation of financial strategies. Delegate tasks effectively to focus on high-impact activities and maximize business growth. From selling candy as a child to becoming a fractional CFO, Ahuva Gruen's journey is a testament to entrepreneurial spirit and financial acumen. Discover how she helps businesses unlock their full potential by addressing their financial struggles with strategic insights and a hands-on approach. Featured Quotes: Ahuva Gruen: "Accounting could also stand for accountability." Ahuva Gruen: "Revenue is vanity, profit is sanity and cash flow is reality." Ahuva Gruen: "Do what you do best and delegate the rest." Behind the Story: Ahuva's passion for business and finance started early, influenced by her mother's beauty salon. Her experience in corporate finance, culminating in a CFO role, led her to realize that many businesses struggle with financial management despite excelling in their core services. This inspired her to start her own fractional CFO business, providing strategic financial guidance to help businesses grow and succeed. Conclusion: Thank you for joining us for another episode of Building the Premier Accounting Firm with Roger Knecht. For more information on how you can establish your own accounting firm and take control of your time and income, call 435-344-2060 or schedule an appointment to connect with Roger's team here. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Learn the 10 biggest mistakes business owners make and what you can do to avoid them. Get the 10 Top Business Mistakes PDF now: https://www.agfinancialcpa.com/ Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: "Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds" – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. "in the BLACK, nine principles to make your business profitable" – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. "Your Strategic Accountant" - Understand the 3 Core Accounting Services you should offer as you run your business. help your clients understand which numbers they need to know to make more informed business decisions. "Your Profit & Growth Expert" - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a: Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business. The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value. For Additional FREE Resources for accounting professionals check out this collection HERE! Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss. Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe. Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777