Know Your Numbers: The KPIs That Drive Business Success with Jennifer Steckly, CPA, CA, EMBA

It's Time for Success: The Business Insights Podcast

In this insightful and practical episode, Sharon sits down with Jennifer Steckly, a seasoned CPA and fractional CFO, to unpack the key financial KPIs that every entrepreneur and business owner should know. Jennifer shares how she helps clients use their numbers not just for reporting, but for making smart, timely decisions throughout the year.

Jennifer covers essential metrics like gross profit margin, net profit, customer acquisition cost, and cash flow planning. She shares common financial blind spots (like relying solely on the cash in your bank) and emphasizes how internal financial reporting should be structured for operational insights—not just tax filings. She also offers guidance on setting up profit accounts, understanding throughput, and building better financial habits into your leadership routine.

Entrepreneurs can walk away from this episode with actionable strategies to take control of their business finances, understand seasonal patterns, and even prepare for funding or rapid growth. Whether you’re in startup mode or scaling up, this episode delivers financial clarity and empowerment.

About Jennifer Steckly

Jennifer Steckly is a CPA and Partner at Crowe MacKay LLP, a firm that supports businesses across Western Canada. With a passion for helping entrepreneurs understand and act on the numbers that matter most, Jennifer offers fractional CFO services that go beyond basic tax prep. She works closely with her clients to implement systems, track the right KPIs, and build sustainable, profitable operations.

Beyond her advisory work, Jennifer is a sought-after speaker and co-host of a podcast geared toward early-stage female entrepreneurs. Her engaging, practical approach makes financial conversations feel empowering rather than overwhelming.

Resources discussed in this episode:

• Profit First by Mike Michalowicz
• Traction by Gino Wickman
• Scientific Research & Experimental Development (SR&ED) Tax Credit Info - Canada Revenue Agency
  
  

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Contact Sharon DeKoning | It's Time Promotions:

• Website: itpromo.ca
• LinkedIn: Sharon DeKoning
• Facebook: It’s Time Promotions
• Google: It’s Time Promotions
  
  

Contact Jennifer Steckly| Crowe MacKay LLP:

• Website: crowemackay.ca
• Email: [email protected]
• LinkedIn: Jennifer Steckly
• LinkedIn: Crowe MacKay LLP

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Transcript

Sharon 00:16

Welcome back to It's Time for Success, the business insights podcast. I'm your host, Sharon DeKoning, and today's episode is going to be a valuable one for entrepreneurs, founders ,and business owners at any stage of their growth. I'm thrilled to be joined by Jennifer Steckly, a highly respected CPA, and partner of Crowe MacKay LLP. I got to know Jennifer through the Women's President Organization, which we refer to as WPO. And I've also, I've always admired her sharp insight, approachable style, and her genuine drive to help business owners not only grow, but grow wisely. Jennifer works closely with entrepreneurs and business leaders, helping them understand the numbers that actually matter. Today, we're diving into top financial KPIs every business owner should know, metrics that can truly shape your decision making, strategy and profitability. So thank you, Jennifer, for joining us today.

Jennifer 01:11

Absolutely, it's my pleasure. Thank you for having me.

Sharon 01:14

Let's go into a little bit of a brief background for our listeners. Maybe your journey into accounting. Why accounting? That's got to sound like an atrocious job description, as far as I'm concerned. Tell us.

Jennifer 01:27

So why I chose public practice accounting actually comes from a part-time/full-time job I had when I was in university and I was studying business. I was working at a bookkeeping firm, and what I loved about it is, when you're in public practice accounting, you get the absolute honor and unique perspective to be able to see a whole bunch of different businesses in different industries, how they operate, how they grow, what breeds success, what doesn't. And so it really fed my entrepreneurial curiosity, I guess you could say. So once I got my designation in public practice, I was a senior manager at a mid-size firm, and I decided that there was more we could offer our clients in terms of advice on the management side of accounting. We could be more communicative. With what we know we could help in more ways. So I decided to open my own firm. I started with just me and a partner, and we grew it to a team of 15, and then just recently, on January 1st, we merged in with a larger firm that's across Western Canada called Crowe McKay and it's been great so far, but it's still new, so I'll keep you posted on that.

Sharon 02:38

Crowe MacKay. I pronounced that improperly. Sorry about that. Jennifer.

Jennifer 02:42

That's okay. I did it for the first three months I worked here, or I was a partner here.

Sharon 02:47

Yeah, I should have clarified that. Oh, yeah. Anyways, Crowe MacKay. Got it. Got it. So that's relatively new to you, and growing. That's really exciting. Okay, KPIs as a business owner, and I gotta elaborate on something actually. Jennifer, so I've been doing business for almost 20 years, and what I've learned over the years is there's three people that you need close to you in your back pocket who cares just as much as you do almost about your business, and one of them is a lawyer, an accountant and a banker. Those three are vital, I feel, and sometimes back in the day, when I first started, you just take your year-end to the accountant, you get your report, you pay your taxes, and you move on. But I feel that every business needs more from their accountant than that, and I believe that's what you have to offer to your clients.

Jennifer 03:35

Yeah, absolutely. So I offer, you could either call it fractional consulting or fractional CFO services. So basically, what that is, is I help business owners structure their financial picture in a way that helps them predict success or plan for success, rather than, you know, just come into the accounts at the end of the year and then it's a surprise whether or not you made money, how much tax you have to pay. So we review the financials regularly. We determine what KPIs or key performance indicators they need to track and ...