How To Price Yourself Correctly And Boost Your Bottom Line

The Home Service Expert Podcast

Tommy Mello

Business, Management

4.8 • 705 Ratings

🗓️ 21 August 2020

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Stephen King is one of the top thought leaders in the accounting industry. He is the President & CEO of GrowthForce, one of the nation’s largest cloud-based accounting services, and has a life-long commitment to giving back to the community through charitable causes. His eBooks and blog provide insights on management accounting, business strategy, and finance to small businesses and nonprofits, the latter being his largest client sector. When not immersed in helping clients grow, he serves as a role model to his company for proper work-life balance.

In this episode, we talked about managerial finance, financial reporting, business strategy, entrepreneurship, accounting, management services...

Transcript

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0:00.0	I've been a CPA for 36 years, and I think you're 100% right.
0:06.8	The single biggest challenge I see with entrepreneurs is not just a lack of financial acumen,
0:13.8	but a fear of it.
0:15.4	An acceptance, like, I don't know how to read my balance sheet.
0:18.2	I don't know what it tells me.
0:19.2	My CPA sends me an income
0:20.8	statement in a balance sheet every month. And I look at the top line. I look at the bottom line
0:25.2	and then I file it. And it's not actionable. We've studied this. The companies that are the market
0:33.1	leaders make data-driven decisions. Every decision they make, they work backwards from the
0:39.1	decision and figure out, all right, what are the drivers of decision? What information do I need to know?
0:44.0	And then you figure out how to get a report that shows you that data. You know, we do this with
0:49.8	QuickBooks, right? And we also serve Zero and NetSuite. But QuickBooks and Zero are net
0:56.8	suite are incredibly powerful, but it's like Excel. If you only use it to add, subtract,
1:02.1	multiply, and divide, you're not going to be a market leader.
1:05.5	Welcome to the Home Service Expert, where each week, Tommy chats with world-class entrepreneurs and experts
1:12.2	in various fields, like marketing, sales, hiring, and leadership to find out what's really behind
1:18.7	their success in business. Now, your host, The Home Service Millionaire, Tommy Mello.
1:29.5	Welcome back with the home service expert.
1:31.4	My name is Tommy Mello.
1:32.5	And today I have a guest coming all the way to us from Houston.
1:36.6	He's an expert when it comes to managerial finance, financial reporting, business strategy, entrepreneurship, accounting, and management services.
1:45.7	Like I said, he's based out of Houston, Texas. He's the president's CEO of Growth Force from 2004 to
	...

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