Are you a business owner struggling to make sense of your finances and truly optimize your profitability?

In this episode of UYB, we sit down with Chripa John, a Certified Public Accountant (CPA) and Chief Financial Officer (CFO), to dive deep into financial strategy and sustainable growth.

What We Cover:

• Understanding Financial Health: We break down the key metrics you must track—from cash flow and gross profit to net profit—and why cash flow is the most basic indicator of business health.

• Audit-Proofing Your Salary: Learn about the critical importance of a reasonable compensation study to ensure your salary structure is tax-efficient and compliant, rather than relying on generic percentages.

• Mastering Product Pricing: Chripa explains a bottom-up pricing approach that accurately accounts for all costs, including overhead and logistics, before you even consider your profit margin.

• Beyond Tax Compliance: We discuss why business owners need year-round advisory services from qualified professionals (like tax planners and fractional CFOs) to grow their businesses, rather than just relying on basic compliance services.

• Avoiding Common Pitfalls: Get practical advice on mitigating common financial mistakes, such as commingling personal and business finances and optimizing credit card fee management.

Whether you're a small business or poised for growth, this episode will help you stop guessing and start implementing a clear financial strategy for a more profitable and sustainable future.

Don't forget to subscribe to UYB for more essential business insights!