small business finance

Just when you thought you knew everything about optimizing your business finances, Nicole Morong's story takes an unexpected turn. Discover how her unique approach to financial planning has helped small business owners thrive. 

Meet Nicole Morong, a certified financial planner with over twelve years of experience in helping individuals and small businesses reach their financial goals. As the founder of Peterkin Financial, Nicole has dedicated her career to empowering her clients to make smart financial decisions that support their lifestyle and dreams. Realizing the unique struggles that small business owners often face, she has shifted her focus to offer a group program specifically designed for service-based entrepreneurs, giving them the tools and guidance they need to optimize their business finances and achieve their ideal life. With her friendly approach and deep understanding of both personal and business finance, Nicole Morong is the perfect expert to help small business owners take control of their financial future.

In this episode, you will be able to:

• Distinguish between personal and business finances for improved financial management.

• Implement personal spending goals to strategically reduce business expenses.

• Enhance take-home pay by optimizing your business finances.

• Utilize tax-deductible expenses to maximize your financial savings.

• Save thousands by planning for future financial goals and staying proactive.

Connect with Quotable:

I would love to hear how this helped you! Comment on this episode’s Instagram post and share what ways you plan to find $10k in your business. If you have any other tips or ideas leave a comment under the post for this episode on our Instagram page @quotablemediaco or shoot me a DM. You can also connect with us at our Quotable Magazine Instagram account @quotablemagazine

For any show ideas, to submit a guest to the podcast, or if you have any questions, please visit https://quotablemediaco.com/podcast.

Connect with Nicole:

Book a Discovery Call!

Website: peterkinfinancial.com

Instagram: @peterkinfinancial

This episode is sponsored by Big Picture Copywriting. Head to bigpicturecopywriting.com to get your website, email, sales, and launch copy written for you.

Are you struggling to make informed financial decisions when it comes to hiring for your small business? Tune in to this episode of The Impact Ripple Podcast where we demystify the financial numbers and share expert tips on how to be intentional with your hiring process and paying yourself as a business owner.

In this episode, I spoke with Carla Titus, the owner of Wealth and Worth Within, where she and I broke down the financial numbers all business owners want and need to know when hiring employees.

Carla shared the four main numbers that you need to pay attention to and how to plan for the cost of hiring. She emphasized the importance of being intentional about your finances and education to help you make more informed financial decisions.

One key takeaway from our conversation was the importance of having a hiring plan and how defining the role and performance metrics before hiring will help you avoid making a poor hire decision for your small business.

We also discuss the importance of aligning your people plan with your business plan so you can be strategic, mindful, and intentional in your hiring process. 

Having a hiring plan and understanding the costs associated with hiring employees takes the guesswork out of it and allows you to make more informed and successful hiring decisions.

We also talked about how to pay yourself as a business owner. Many business owners don't pay themselves or don't pay themselves enough. Carla suggested starting with a small amount like $100 per week and increasing that as the business grows. She also explained that it’s essential to prioritize profit over revenue and reassess pay rates as you bring on new team members.

If you’ve been looking for a conversation on the financial ins and outs of hiring employees, this is the episode for you! 

In this episode, you’ll learn:

• The four main financial numbers all small business owners need to pay attention to.
• The importance of being intentional and having a hiring plan to avoid disappointment and unexpected costs.
• Ways to build a team in a small business, including hiring temporary contractors and having cash reserves.
• How business owners can pay themselves a salary and prioritize profit over revenue.

This episode is part of our Money Month Series. You can find all the episodes in this series here:

• Ep22 - How to Shift Your Money Mindset and Start Hiring Your Dream Team with Christine Walsh
• Ep23 - Breaking the Money Taboo: Overcoming Emotional Barriers to Building Wealth with Keina Newell

Mentioned in This Episode: 

• TIR Episode 13: Growing Your Team with Intention - https://www.sprouthr.co/13  
• Carla’s Website -  https://www.wealthworthwithin.com  
• Carla’s Projections & Forecasting Services - https://www.wealthworthwithin.com/projections
• You can also find Carla on Facebook, Instagram, LinkedIn and TikTok!

Shondra Washington is an emerging fund manager, investment banker and co-founder of TBC capital, an education-first advisory and consulting firm focused on fractional CFO’s business development and strategy services for venture-backed companies and small business owners.

She is now the CEO of Black@. With her experience in finance and advising startup founders on their fundraising strategy, Shondra joins the WorkSmart podcast to share her wisdom and tips for other entrepreneurs. Working capital, GAAP, Controllers and more: We walk through some of the basics of financial vocabulary and talk about why it's important to dive head in and make sure that you understand the basics of your business's finances. We’ll also get into the nitty-gritty of understanding your cash flow, pricing yourself and why having up-to-date financials is crucial.

You’re going to want to listen – and take notes. 

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To access this episode’s freebie and check out previous episodes, click here: https://morgandebaun.com/podcast/

Get coached by Morgan and other WorkSmart Advisors at: https://Worksmartadvisor.com 

To connect with Morgan click here: https://www.instagram.com/morgandebaun/