Big Finances for Small Businesses
The Power of a Closer Look at Business Finances
Business Mindset Shifts on Finances, Debt, and Safety Nets
Notable Quotes
“Accounting is full of a lot of jargon…there’s a lot of language that doesn’t make sense to small business owners. When it comes to implementing accounting and finance for small business owners, it becomes so much more than the numbers.”
– Danielle Hendon
“The number one reason I recommend having a coach is for accountability and an outside perspective, regardless of what kind of coach you hire, someone who’s going to hold you to taking action.”
– Danielle Hendon
“It takes money to make money, that is a very true phrase, and nobody should feel bad for having debt. There are bills to be paid while you build a business, and that takes time.”
– Danielle Hendon
Episode Summary
For small businesses, keeping a close eye on our finances is the key to keeping it tight—but what about if we take it one step further and take insider corporate strategies and apply them to our health coaching businesses? Talk about activating potential!
In this episode of Health Coach Academy, we’re talking to the founder and owner of 4 Corners CFO Danielle Hendon to share some insider info and shed light on some big business finance analyses that work for small businesses to help business owners boost their livelihood and to create a lasting impact on their community.
Relevant Links
Danielle Hendon – Instagram | LinkedIn
In this Episode of Health Coach Academy
- Omar introduces the episode’s guest, Danielle Hendon (00:36)
- Danielle Hendon’s origin story and how she came into the finance space (02:23)
- The differences between big corporate finances and small business finances (05:34)
- Baseline accounting terms that go over most small business owners’ heads (06:21)
- Financial statements and reports (06:49)
- Income statements aka profit and loss statement (08:19)
- Utilizing reports and statements as small business owners (09:31)
- Taking a closer look at financial statements (10:14)
- Commonly overlooked operating expenses in the business (11:59)
- When it comes to education, you get what you pay for (14:52)
- One of the first financial purchases of business owners (16:22)
- Why hire the services of a professional (18:05)
- Danielle Hendon, 4 Corners CFO, and their 6-Part Framework (18:42)
- The minimum threshold to outsource finance services (23:08)
- The mindset shift to a more profitable position (24:04)
- What it looks like to pay yourself (25:59)
- The mindset shift on debt and safety nets (27:18)
- When to start thinking about having business safety nets (31:40)
- Where to find and keep track of Danielle Hendon and her work (33:07)
Don’t forget to check out!
The Art of Sugar-free Cooking: Recipes for Healthy Living by Omar Cumberbatch
Enjoyed this podcast? Picked up a lot of helpful tips and tricks to make your weight loss journey more fun and enjoyable? Hop on to iTunes for more episodes!
