Claim OwnershipPurposeful Profit
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© 2024 Carla Moats
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Purposeful Profit is THE podcast for female business owners that are ready to take control of their business finances, build wildly profitable businesses and have more impact. The sexy parts of a business - marketing, sales and operations get plenty of attention - but finance is often a business’s neglected stepchild. It's time to show them some love - after all profit is how you have more impact and create financial freedom. Finance and strategy coach and fractional CFO Carla Moats will use her straight talking style and over 25 years advising businesses from 6-figure up to 9-figures to help you understand your numbers, feel empowered with your business finances and put more money in your pocket and more impact in the world.
35 Episodes
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All businesses need bookkeeping. It’s part of doing business and it’s part of being a business owner.First you have to decide if you are going to DIY it or hire someone. But most business owners don’t have an accounting background and don’t know much about bookkeeping (and don’t really have the time to do it right). And if they decide to hire it out, they often don’t know what to look for to find a good bookkeeper (it’s an unregulated field and anyone can hang out a shingle).This o...
Recently, I was talking to someone, and they asked me why profit mattered. I'll admit, was taken aback a bit. I felt like they were asking me why I needed to breath. It seemed so obvious to me. Businesses need profit to survive over the long-term. And business owners need profit if they want financial freedom or just to support their lifestyle. But profit is actually discussed very little in marketing you will see aimed at your business. Most strategists, business coach...
Sometimes what we mistake for fear or avoidance of our business finances, is really money trauma, which is a deeper issue than just being overwhelmed or confused or fearful of your finances. Join me for a conversation with Hailee, a trauma coach, as we talk about and try to normalize money trauma.We talk about how money trauma is different from fear or anxiety, how to recognize the signs of money trauma and how Hailee used Simple Financials to slowly start getting control of her finances.Ment...
Do you have an LLC but are confused about how to file your taxes? This week's podcast episode is just for you.April 15th is less than a month off, which means you need to get those LLC taxes done. Tax laws can be complicated and overwhelming., but whether you are doing your own or hiring a pro, it's important as a business owner to know the basics. Quite simply, informed business owners make better decisions.In this week's episode of Purposeful Profit I break down how to file your taxes ...
Freedom is my top value. It's really why I started my business. I wanted more financial AND time freedom.It's also usually a top 3 value of my clients as well.But freedom means different things to everyone. Knowing what freedom means to you is important if you ever want to achieve it. In this week's episode of Purposeful Profit, I'm talking all about freedom, what it means to me and how to get clarity on what it means to you.Mentioned in this episode:Ready to build a business that gives...
In today's episode of Purposeful Profit, I'm helping answer one of the most common questions I get from business owners: "Should I be an S corp or an LLC?"And the answer is, they really are not mutually exclusive. You can be an LLC as a legal form AND still elect S corp status. And doing so, can generate significant tax savings under the right circumstances. Join me for this week's episode of Purposeful Profit where I'm exploring LLC and S corp tax treatment and when an S corp...
The best bookkeeping system for your business is the one you'll use.A system, no matter how full featured, that you don't use, isn't any better than no system.So if you don't have a system or you aren't using the system you have and are overwhelmed by the idea of using QBO or adding the cost, you are who Simple Financials was designed to serve.Alex Mitchell is an integrative hypnotist and business coach. She'd been running her business like many coaches or business owners do: without paying a...
Is your bookkeeping system a shoebox? A file folder?A bookkeeping system provides a way to record and classify transactions and a shoe box or file folder can't do that. But not everyone needs (or wants) a full featured system like QBO. And bookkeeping doesn't have to be complicated. 🎧 Tune into this week's episode where I talk about the simplest bookkeeping system. You'll learn: ▶️ Why you need a bookkeeping system, even at the very beginning ▶️ The 4 requirements of any bookkeeping...
It's tax season and that often brings a lot of stress, handwringing and anxiety to business owners. But tax prep can be a breeze if you are prepared.Before you go to your tax preparer, there's some easy steps you can take to reduce the questions you get from your tax preparer and makes sure you've maximized your deductions.🎧 Tune into this week's episode and be prepared for your smoothest tax season ever. You'll learn: ▶️ QBO housekeeping tasks you should do before going to your tax prep...
In this week's episode of Purposeful Profit, I'm clearing up the confusion I see among small business owners around the requirements for 1099 reporting. And this confusion is leading to 1099's being issued for incorrect amounts, to people who should not receive one, not being issue to those who should get one.Tune into this week's episode and get the 1099 rules broken down for you in simple terms. You'll learn:➡️ Who you should be issuing 1099’s to and who you shouldn’t➡️ How to ensure y...
Is your business built on a solid foundation? Or is it built on dirt or soft ground?When you build a house on soft ground, it might stand for a time, but eventually it caves in. Same goes for your business.And your finances are the basement of your business. It’s the part that’s invisible to most outsiders, but what holds up the upper floors - your sales, marketing and your own personal zone of genius.Your bookkeeping system is one of the first bricks in that foundation. And since you probabl...
There is one thing that absolutely every business needs: bookkeeping.You need it not just to report taxes properly, but to understand the finances of your business. Selecting your bookkeeping system is one of the earliest decisions you'll make in your business. But, let's face it, you are not an accountant and may not know what you need or understand your options. And selecting a system with those is like throwing darts blindfolded. Not every business has the same needs.In this week's episode...
The only thing worse than no bookkeeping is bad bookkeeping. It costs you time and money, both today and in the future. I know because I'm often working with clients to clean up shoddy bookkeeping work. It's the starting point for a good financial foundation.There are a lot of great bookkeepers and accountants out there. But it's also an unregulated field and anyone can hang out a shingle. It's also one of the first tasks business owners will hire out, but many don't really know what to look ...
Are your finances for 2023 all in order? Or are they a bit of hot mess?Are you going to be able to spend Q1 focused on your 2024 goals or are you going to spend it in mad rush, full of anxiety, trying to pull all your numbers together. What if this time next year, your finance were all in order and you were not scrambling for the tax guy. What if you had put the annual mad rush and tax anxiety to bed and were able to just focus on growing your business?It doesn't come from making resolutions,...
The cash flow statement is one of the three standard financial statements for businesses. Yet it's an engima for many business owners. It's typically the least used and understood of the 3 standard financial statements. Yet it's a vital tool to helping you understand how your business generates and uses cash flow. And that understanding and knowledge is key to managing your cash flow.Join me for this week's episode where I help you understand your cash flow statement. You'll learn:...
Do you lose sleep worrying about whether you have enough cash in your business to pay your bills? Whether you can invest in your business so you can grow? Well, you are not alone. 70% of business owners say they have cash flow issues. When you are running a small business, cash is king. Because if you can't pay your bills or don't have money to invest in the business, you won't be able to sustain growth or last long. Here is a sobering statistic: 82% of all business that fail, ...
Making more profit in your business and more money in your life doesn't start with your numbers. Or your strategies. It starts between your ears with your mindset.The money stories we tell ourselves directly impact our ability to build profitable businesses and create wealth and money in our lives. These stories, many of which we accept as fact, are really just thoughts and beliefs we keep repeating to ourselves. They've been framed by our lifetime experiences, upbringing, and societal messag...
One common mistake I see with business owners who want to make more profit is that they are putting profit last. Profit is what happens to them after all their expenses are paid.But sustainable project requires a Profit First mindset. In this week's podcast, I'm talking about how a Profit First mindset can transform your business. A profit last mindset is a sure way to unending hustle, burnout and poor or inconsistent profitss. Instead, adopt a Profit First mindset and get off the hustle...
When you hang out with entrepreneurs with a vision for their business, there’s one thing you’re bound to hear them talking about: scalingBut there’s a word missing from almost every discussion: PROFITAnd profit, not revenue, is the real point of scaling. But for various reasons, all the conversation about scaling centers around revenue. And this is resulting in businesses scaling prematurely and building outsized businesses as they scale, rather than building efficient, profitable businesses....
This week I'm blowing the lid off one of the biggest myths out there about improving your profit. Profit improvement isn't just about increasing revenue or cutting costs.In this week's episode, I'm sharing 5 much more nuanced strategies that can improve your profit without you hustling to chase more revenue or taking an axe to your expenses.You'll learn:Why increasing your revenue or cutting expense isn’t a fix all for improving profit5 ways you can improve your profit that don’t require you ...
I'm going all Brené Brown on you in this week's episode and talking about shame. Specifically financial shame. Financial shame is costing you money every day in your business. It's keeping you stuck in your business because shame leads to inaction, buffering and continuing on the same path. I hear from clients all the time about how ashamed or embarrassed they are by the state of their finances. And I tell them there is nothing I haven't seen. And once we face it and have a pla...
All businesses need bookkeeping. It's usually one of the first things business owners will outsource. Yet, 90% of all clients that come me have bookkeeping issues. They don't know what they don't know.A good bookkeeper is a huge asset and a key part of your financial team. But it's an unregulated field and business owners often don't know what they don't know.When clients come to me with profit and cash flow issues, I often see a direct link with the quality of their bookkeeping. ...
Profit isn't just the way your business survives and thrives. It's you you build personal wealth and achieve financial freedom. It's how you invest and grow your business. Profit is how you have an impact. Profit = ImpactAnd profit is personal. Your purpose for your profit is personal to you. Knowing your personal profit keeps you grounded and centered in your business. In this week's episode, I'm talking about the importance of knowing your own personal purposes for profit. H...
This week's episode is a little different. Since I started my business, I found that a lot of business owners don't really know what a fractional CFO, what they do, or that they were even an option for smaller business.So today, I'm letting you get to know me and giving you an inside look at what I do and how I help businesses. I'll talk about how my 30-year career brought me from supporting $200 million dollar business to helping small business owners make more money.You'll learn:What a frac...
Cash flow is one of the biggest issues businesses, and my clients, face. 82% of businesses that fail, fail because of cash flow issues. It's the business killer. A pattern of cash flow issues results in not being able to pay your bills or invest in your business. Not to mention the money anxiety that is always running in the background.Here's a little secret, when a client brings me cash flow issues, I get a little excited.Not because I'm happy they have cash flow issues, but beca...
I start this week's podcast episode with a sobering statistic: 82% of all new businesses that fail, fail because of cash flow. Read that again: 82%Businesses with cash flows issues can't pay their bills. And if your business can't pay it's bills, it's on borrowed time.Cash flow funds your operations as well as funds investments to grow your business and helps investors and lenders have confidence in your ability to meet your obligations.That's why understanding and managing your cash fl...
In today's episode of Purposeful Profit, I'm getting up on my soapbox. My Profit soapbox that it. As I work more and more with small business owners, I'm seeing an alarming issue that's causing a lot of undue hardship: a focus on revenue without a focus on profit.Many business owners think the key to more money in their pocket is to grow their revenue. So they start chasing a big revenue number. And really, it's no wonder. In the business coaching and consulting space, there's an extreme...
In this episode of Purposeful Profit, I'm explaining the connection between strategy and profit and why you need effective strategy if you want a wildly profitable business. Implementing an effective strategic planning process can up level your business and your profit. Tune in to learn what what strategy isn't and what it is and how to start crafting your business strategy. You'll also learn how finance and your numbers fit into your strategic planning process. Strategy is the final pa...
Did you know that we have upwards of 60,000 thoughts a day? And that 85% of them are unintentional. Much of what we think is true is not, it's just a thought or belief we have. And when it comes to money and numbers, we often tell ourselves shitty stories. That's right, your problems making profit start between your ears with the shitty (and usually untrue) stories you are telling yourself about money and numbers.This episode is for you, if you are saying things to yourself like:"I'...
If you want a sustainably profitable business, you can't ignore your financial foundation. It's what supports all the upper levels of your business. Without that foundation, your business won't have sustainable profit and might even crash down around you.In this week's episode, I'll explain the 2 parts to financial foundation: know your numbers and core processes. I'll break down what "know your numbers" really means and give you an easy framework for assessing where you are at in knowing you...
Accountants will tell you that revenue - expenses = profit. But that's just the accounting equation and the way we calculate it. But there is way more to profit and it starts before you ever have a sale. There's really three keys to building a wildly profitable business. If you are missing any one of the three of these then you aren't realizing your or your business's full potential.In today's episode of Purposeful Profit, I'll explain the REAL profit equation, help you understand each one an...
Marketing, sales and operations are the sexy business functions. Finance is often the neglected stepchild, avoided out of overwhelm, confusion or fear. But if you want a sustainably profitable business that supports your life AND your business, you can't avoid those finances. In today's episode, we're showing finance some love and talking about the 3 mistakes that I repeatedly see business owners make with their finances that has them leaving money on the table.Ready to quit avoiding your fin...
Are you planning for profit? Or just letting profit happen? Profit isn't an event, it's a decision. Profitable businesses make profit intentional.In today's episode, we're talking about the #1 mistake businesses make when thinking about profit and 3 things you can do to start making profit intentional so you can build a wildly profitable business.Ready to quit avoiding your finances and finally take charge of them? Book your free financial assessment at www.carlamoats.com/workwithme For the f...
Welcome to the first episode of Purpose Profit with Carla Moats! This is THE place to be if you are a visionary business owner who wants to have an impact AND have a wildly profitable business. Finance and strategy coach and fractional CFO Carla Moats will be your personal financial whisperer as she helps you understand your numbers and build a wildly profitable business so you can achieve all those business dreams you have.Tune in today for a preview of the podcast and to get a glimpse into ...
Welcome to Purposeful Profit, the podcast for visionary female entrepreneurs ready to show their finances some love, build wildly profitable businesses and have a bigger impact.DISCLAIMER: The information in this podcast is for informational purposes only and does not constitute an accountant-client relationship. While we use reasonable efforts to furnish accurate and up-to-date information, we assume no liability or responsibility for any errors, omissions or regulatory updates.
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