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12 CFO Secrets to Make Your Company More Profitable | The Business Coach - Episode 64
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In this episode of the Business Coach Podcast, host David Finkel invites esteemed entrepreneur and CPA, Kevin Bassett, to share invaluable CFO strategies for enhancing business profitability. They discuss the critical role of managing by margin, the importance of using job costing methods, optimizing pricing, and understanding balance sheets. Learn how to implement efficiency KPIs, utilize capital effectively, and navigate access to capital markets. This episode is a treasure trove of actionable insights for business owners looking to make high-impact improvements quickly. Tune in and discover how to make your company more vibrant, durable, and profitable with CFO-level thinking.
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00:00 Introduction: Time Kills Profit
00:44 Welcome to The Business Coach Podcast
01:24 Meet Kevin Bassett: Entrepreneur and CPA
02:01 The Role of a Virtual CFO
02:29 CFO Secrets to Boost Profitability
03:03 Personal Insights: Parenting and Business
04:35 Understanding CFO Perspectives
05:54 Maximizing Earnings and Lowering Taxes
06:39 Improving Gross Profit Margins
08:43 The Importance of Job Costing
12:54 Pricing Strategies for Increased Profit
15:01 Key Performance Indicators (KPIs)
19:14 Strategic Financial Planning
24:12 Access to Capital Markets
26:26 Quick Wins for Financial Improvement
30:10 Final Takeaways and Farewell
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