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Keep What You Earn

Shannon Weinstein

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Keep What You Earn is a podcast for entrepreneurs of all levels to use their financial information as a source of inspiration rather than intimidation. Your host, Shannon Weinstein, is a CFO, CPA and business mentor with a knack for simplifying the complex concepts of money into everyday examples and analogies you can actually understand. Join Shannon and her guests as we unlock new growth strategies, tax tips and mindset shifts so you can scale your business with confidence. [Disclaimer: An ...
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I BELIEVE THAT UNSUSTAINABLE DIETS AND EXERCISE REGIMENS ARE WHAT KEEP US STUCK IN THE WEIGHT LOSS AND WEIGHT GAIN CYCLE. I get you… I was you! I’ve lost weight, I’ve gained weight, I’ve felt fat, I’ve felt too skinny and everywhere in between. My eating habits and body image were disordered AF thanks to really stupid nutrition information and crazy diets. Through science-based nutrition education and mindful eating, I have found the key to having it all. It’s possible to eat delicious food, ...
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In this episode I discuss a common hurdle many business owners face: the $5 million bottleneck. Drawing from my experience as a CFO, I outline how business growth often stalls around this revenue point due to the founder's over-involvement in day-to-day operations. I highlight the importance of developing systems, delegating responsibilities, and c…
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In this episode, I share personal reflections as I navigate selling our Connecticut home and how this experience paralleled with business advice I received from a visit to the headquarters of acquisition.com. I discuss the value of decluttering and aligning our possessions and business operations with our current phase of life. By stripping down to…
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Send us a text Hi everybody and welcome to Attendance Bias. I am your host Brian Weinstein. We are at the halfway point of the tour by now, having just visited the Schottenstein Center in Columbus for the first time, it is now time to visit an old favorite: The North Charleston Coliseum in Charleston, South Carolina for a THREE NIGHT weekend run! A…
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In this episode, I demystify the often complex process of preparing your business for sale. From unexpected offers to due diligence, I provide actionable steps to ensure you're ready for any opportunity that comes your way. Learn how to clean up your financials, document operational procedures, and mitigate risks to build buyer confidence. Discover…
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In this episode, we tackle the concept of margin erosion and how it impacts scaling businesses. I share insights on how growing your sales doesn't necessarily equate to growing your profits. We dive into common culprits like hiring rates, customer acquisition costs, and overhead, providing practical solutions to maintain healthy margins. You'll lea…
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In this episode, I dive into the crucial topic of building trust online, especially in the digital marketing landscape. You've probably heard about the phrase 'know, like, and trust,' but I believe there's a missing piece in this equation. I argue that trust is not just a byproduct of likability; it also hinges on reliability. Trust is formed throu…
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In this episode, I discuss some of the challenges and triumphs of evolving a business, sharing personal experiences from my journey as a CPA and business owner. I explore the idea that what got you here won’t necessarily get you there, and how this constant need for evolution can feel like starting over at each new business level. I also discuss th…
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Send us a text Hi everybody and welcome to Attendance Bias. I am your host Brian Weinstein. We are almost at the halfway point of the tour by now, arriving from Phish’s 3-night holiday weekend stand at Folsom Field to one of the larger indoor venues on tour: the Schottenstein Center in Columbus on the campus of THE Ohio State University. This is Ph…
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A solid expense reimbursement policy is a must and today I'm sharing effective strategies and platforms. As your business scales, you'll need to trust your employees with your money. We'll dive into how to set clear expense policies, leverage expense management platforms, and foster a money-conscious culture. Learn why sharing budget transparency a…
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Send us a text Hi everybody and welcome to Attendance Bias. I am your host Brian Weinstein. After an odd summertime Texas stop in Austin, Phish is keeping us disoriented this year: it’s now time for a holiday weekend run in Colorado…but not the one we expect. Instead of the end-of-summer blowout at Dick’s over Labor Day Weekend this summer, we are …
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I'm sharing a personal journey of self-reflection on spending habits and prompting you to do the same. As I've grown my team to seven members, I've become more conscious of my financial decisions and the impact they have on my business. I introduce two pivotal questions you should ask yourself when making significant spending choices: 'What if my t…
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In this episode, I dive into the concept of receivables in accounting. I'll explain how receivables represent money owed by customers and highlight the importance of collecting these funds. Whether the payments are due to installment agreements or scheduled future payments, factoring receivables into your cash flow forecast is crucial. We'll discus…
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Send us a text Hi everybody and welcome to Attendance Bias. I am your host Brian Weinstein. After two days off and a very very long drive, we are at the third stop of our tour: The Moody Center in Austin, Texas for June 27 and 28. It’s rare that Phish stops in Texas, rare that they stop in Texas for the summer, and even more rare that they’ll play …
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In this episode, we dive into the often-asked question: Why don't the rich pay taxes? I break down common misconceptions about income, taxes, and wealth accumulation. We explore the distinction between ordinary income and passive income, and how leveraging assets plays a crucial role in minimizing tax liabilities. Learn why trading time for money c…
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Send us a text Hi everybody and welcome to Attendance Bias. I am your host Brian Weinstein. We are fully on tour by now, having visited Manchester, New Hampshire and now on the 9-and-a-half-hour drive to the Pete–that is the Petersen Events Center, on the University of Pittsburgh campus–in Pittsburgh, PA. For whatever reason, the band decided to sk…
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I'm joined by HR expert Jackie Koch, who brings a wealth of knowledge and experience from her extensive background in high-growth startups and HR consulting. We dive into one of the most challenging aspects of entrepreneurship: hiring. Whether you're debating whether to buy talent or build it within your organization, this conversation has invaluab…
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I recently hired my husband, Jason, into our business. Jason, an adept entrepreneur with 17 years of experience, brings invaluable insights into operations and sales. Join us as we discuss the advantages of his unique perspective, collaboration opportunities, and how this move will benefit our clients. Despite bringing personal and professional cha…
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Send us a text Hi everybody and welcome to the first episode of this new series of Attendance Bias: over the next few weeks, we are going to take a look at venue Phish is going to play on their upcoming 2025 summer tour; from old favorites like SPAC and The Mann, to first-time visits for Phish, like Folsom Field and Forest Hills Stadium. Today, I a…
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In this episode, I dive deep into the concept of penetration pricing—a strategy where you set an initially low price to attract customers quickly and gain market share, with plans to increase your price later. I'll break down how this approach differs from loss leader pricing and explain when and how to use it effectively. Whether you're in a highl…
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In this episode, we'll dive into the financial storytelling of your business and the distinct roles of financial professionals. I guide you through understanding how bookkeepers, tax professionals, and consultants influence your financial narrative. Using a unique metaphor, we'll discuss how a bookkeeper acts like an author or ghostwriter, a tax pr…
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Send us a text Hi everybody and welcome to today’s episode of Attendance Bias. I am your host, Brian Weinstein. Not many guests have come on the podcast to talk about anything from the year 2000. It’s kind of a lost year when most fans consider the tail end of 1.0. 1999 gets a lot of love, Big Cypress is the unquestioned greatest of all time, but w…
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You want to grow your business, but to do that effectively, there are certain types of people you should avoid. Drawing from my own experiences and self-reflections, I underscore the importance of steering clear of those who disrespect your time, are overly price-sensitive, and complain excessively. These individuals can zap your energy and hinder …
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Have you ever considered the importance of evaluating values fit when bringing an employee or client on board? I'll discuss why having clearly defined core values is crucial and how it helps us identify the right clients to work with. You'll learn about the key aspects we look for in clients, such as a proven offer, a growth mindset, and resiliency…
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Let's dive into the hidden financial constraints that could be holding back your business. We explore common roadblocks like improper pricing strategies, ineffective marketing, hiring pitfalls, and leadership challenges. Learn how each constraint can impact your path to profitability, and discover practical solutions for overcoming these hurdles. F…
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Send us a text Hi everybody and welcome to today’s episode of Attendance Bias. I am your host, Brian Weinstein. At Dick’s in 2013, Phish famously used the setlist to spell out the phrase: “Most Shows Spell Something.” It was a good goof at the time, but it also inspired thousands of fans to take the message literally and inspect the band’s song cho…
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Let's dive into the critical traits that set successful entrepreneurs apart from the rest. I share insights from my lunch with one of my most successful clients and reflect on the common patterns I've noticed among thriving business owners. From the importance of fast action to making decisions quickly, and being okay with making mistakes, I share …
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Cash flow is the exchange of promises—both in and out—so it's important to maintain good relationships with vendors and customers while ensuring financial stability. Today, I touch on some of my personal experiences, explain the pitfalls of being overly accommodating, and offer practical advice on setting policies, collecting payments, and managing…
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Believe it or not, it is possible to scale your business while keeping things simple. Today, I'm joined by Sam Vander Wielen, an attorney turned entrepreneur and leading legal educator to online business owners. Sam and I explore the myths of business complexity, the pitfalls of shiny object syndrome, and the importance of focusing on core offers. …
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There's a recurring theme in my recent client calls: the uncertainty many business owners face about the true health of their business. Discover why it's crucial to periodically step back and assess your business's performance objectively. You'll learn how to interpret common financial signals and maintain a balanced view of your business's health,…
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In this episode, we dive deep into the financial side of running a business, translating the complexities into enjoyable, understandable concepts. Using engaging analogies, I shed light on IRS audits and the nuances of handling personal expenses through your business. We explore the risks associated with aggressive tax strategies, the importance of…
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In this episode, we tackle one of the most stressful situations a business owner can face—a cash flow crunch. I discuss how cashflow issues can drastically affect behavior and business culture, and the importance of recognizing early warning signs. I'll guide you through effective strategies to manage cash flow, such as creating a cash flow forecas…
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Send us a text Hi everybody and welcome to today’s episode of Attendance Bias. I am your host, Brian Weinstein. Today, we have a returning guest: published author Rachael Wesley, who–as of today–has released her memoir, “Second Set Chances,” published by Vine Leaves Press. The last time Rachael was on Attendance Bias, about three years ago, she was…
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In this episode, I discuss the common challenges faced by business owners when hiring financial help. I offer a strategic approach to hiring financial support by explaining the importance of building your finance team from the ground up. I also emphasize the cost-effectiveness of hiring a rock-solid accounting specialist or clerk for day-to-day ope…
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In today’s episode, I dive into a topic that often confuses business owners: the difference between an expense and an asset. While you might think your bookkeeper has it all handled, it's vital to understand how these distinctions affect your business's tax benefits and overall financial health. We’ll cover the basics of expenses – your typical ope…
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In today's episode, we talk with Certified Financial Planner Mary Clements Evans, author of "Emotionally Invested". Mary shares her approachable, jargon-free insights on personal finance. We break down the emotional aspects of financial planning, focusing on the personalities that drive financial behaviors. Mary also delves into her own experience …
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Send us a text Hi everybody and welcome to today’s episode of Attendance Bias. I am your host, Brian Weinstein. Since their return to the stage in 2009, all the way to today, Phish has continually proven that they still have the goods–that they’ve avoided the trap of becoming a nostalgia act. They’ve proven it in a number of ways: reinventing thems…
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In this episode, I'm tackling a common challenge many business owners face: balancing long-term marketing strategies with the need for immediate cash flow. While the long game in marketing often yields the highest ROI through sustainable results, it requires patience and consistent investment, which can strain your budget if not managed properly. I…
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In this episode, we're discussing creative strategies for offering discounts without hurting your bottom line. I'll share insights on how to effectively scale your business, save money in taxes, and create a wealth-growing enterprise. While offering discounts is a common approach to driving sales and accommodating price-sensitive customers, there a…
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Today, I'm thrilled to welcome back Cass Thompson, a former career coach and expert in all things networking. Cass believes that while our opportunities to connect are endless thanks to social media and digital tools, those connections require genuine effort to transform into meaningful relationships. That's why she founded The One Hello Society, a…
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In this episode, I'm diving into the nuances of investor relations, especially for those who've never raised capital before. We'll explore the essentials of forming a corporation, crafting investor agreements, and, crucially, how to communicate effectively with your investors. I'll share actionable tips on maintaining strong investor relationships,…
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In this episode, I'm breaking down the considerations you need to evaluate before hiring a CFO for your business. From understanding the differences between a CPA, bookkeeper, and CFO services, to knowing the signs that indicate you're ready for a CFO, this episode covers it all. I'll share insights on how a CFO can help you make data-driven decisi…
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In this episode, I had the pleasure of welcoming back Katherine Studley, the founder of The Only Consultant and Prisma Tax Group. Katherine specializes in providing judgment-free tax preparation and bookkeeping services for OnlyFans models, strippers, and exotic dancers. She shares her journey, the unique challenges her clients face, and how her fi…
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Send us a text Hi everybody, and welcome to Attendance Bias. I am your host, Brian Weinstein. You know, prom night is full of cliches: carnations, gowns, tuxedos, slow dances, limousines, and so on. Now, take all those tropes and add an unexpected twist: your afterparty is taking your limo with a bunch of friends into Manhattan to see Phish play tw…
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In this episode, we explore the significant moments of clarity and paradigm shifts in business, focusing on how to align your client base and operations for optimal growth. I'll share personal experiences and reflections on realizing the need for change, receiving invaluable client feedback, and the importance of intentional client selection. We'll…
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Drawing from a recent client experience, I'll highlight key factors to consider, such as state-specific tax nuances and the importance of specialized knowledge in areas like real estate. I’ll also share my honest approach to when outsourcing or hiring a different accountant is the best move for optimizing your tax strategy. If you're ready to gain …
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In this episode, I dive into a real-life cautionary tale about an eight-figure business that unexpectedly faced payroll issues despite being highly profitable. I share insights on the critical difference between profit and cash flow, and highlight how blind spots in cash flow management can create significant challenges for even the most successful…
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Send us a text Hi everybody and welcome to today’s episode of Attendance Bias. I am your host, Brian Weinstein. Today’s guest is kickass bassist, singer, songwriter, bandleader, musical omnivore and big-time Phishhead, Karina Rykman. If you’ve been paying attention to the jamband and jamband-adjacent scene for any time over the past 5 years or so, …
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In this episode, I dive deep into the intricacies of tax season and how it's affecting business owners. We’ll explore common questions around tax deductions, tax savings, and the strategies that are often suggested by various sources on the internet. While there are many legitimate strategies out there, I highlight the potential pitfalls and time c…
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In this episode, I guide you through the crucial distinction between profit and cashflow—two terms often mistakenly used interchangeably. You'll learn why understanding the difference is essential for your business's financial health. We'll cover how profit is generated purely through business operations, representing what’s left after expenses. In…
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In this episode, I'll discuss how to decipher your profit and loss statement to identify if pricing is a problem, and how to make strategic adjustments to scale your business effectively. By analyzing core offers, gross margins, and net margins, we'll explore ways to optimize profitability. I'll also share practical strategies to align your pricing…
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