On this episode of Leadership In Action, we talk to a financial mastermind who is an expert at effectively balancing accounting needs, reporting priorities, operational requirements, and budget constraints. Cal Wilder has been an EO Member for 9 years, is the author of the book “The Financial Operating System”, and is the Founder and CEO at SmartBooks. Cal joins Host Mark Stiles to chat about the challenges of entrepreneurship, how to focus on the financial metrics that matter most, and Cal’s tips for Triathalons.
- Bigger isn’t always better. As an entrepreneur, don’t endlessly chase growth despite the costs.
- As a business owner, finances can be stressful. The first step in taking control of your finances is to identify why you own and run a business.
- When thinking about financial metrics, keep it simple. While it can be tempting to track everything at once, managing a scorecard with 25 different metrics will quickly become overwhelming.
- As an entrepreneur, it's natural to want to work on and improve every aspect of your business. Focus on the things that are most important to you, and prioritize your efforts.
- Small businesses have the advantage of being able to adapt and change more quickly than larger businesses.
- You don’t need to reinvent the wheel. There are many frameworks on how to run a business, find one that works for you, and follow it.
- Entrepreneurs and business owners tend to have slightly different financial outlooks. Entrepreneurs follow where their progress takes them, business owners have a clearer picture of financial goals.
- Twitter: https://twitter.com/smartbookscorp
- LinkedIn: https://www.linkedin.com/in/calvinwilder/
- Website: https://smartbooks.com/
- Book Link: https://www.amazon.com/Financial-Operating-System-Empowering-Business/dp/B086Y4TLGG/ref=sr_1_1?dchild=1&keywords=the+financial+operating+system&qid=1587085586&sr=8-1
Quote of the Show
- “We think that to be successful means scaling a business exponentially.” - Cal Wilder
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