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"It's not about what you make, it's about what you keep. You can be a $2 million company and broke, or a $650,000 company and rolling in the money."
Pam, the CEO of Pivot Business Group, is a no-nonsense financial expert and speaker who specializes in analyzing and streamlining the back end of fast-growing companies, while efficiently creating more profit and strategic growth. Pam decided to create Pivot Business Group to ensure that no small business owner would face bankruptcy simply because they didn’t understand their numbers.
Pam shares her valuable experience and insights, noting that many entrepreneurs, especially women, undercharge for their services, undervalue their worth, and fail to set prices correctly. They also often neglect to pay themselves properly, have the wrong legal and tax structure for their company, and don’t track their numbers correctly.
For women, it is crucial to understand these financial aspects and stop undervaluing themselves. We aren’t always educated about the financial tools and strategies available, but there are professionals who can help avoid these pitfalls. Investing in their expertise from day one is worth the cost and saves you from future pain and financial mess.
Understand what your costs are, track your money in real time, and make sure you're setting money aside for yourself, delegate and enjoy your journey to success.
Notes:
📉 Pam is a CFO who has a broad-based financial background & experience: understanding your numbers is the key. 03:48
👠 Women entrepreneurs devalue themselves in the marketplace: STOP apologizing & raise your rates. 07:12
💰 What is cost accounting and how it is working: understanding the value you are bringing to the client. 09:34
📊 You might be fixing the wrong problem: entrepreneurs must look to their numbers to tell them the story 16:33
🎯 Don’t do bookkeeping if you are not a bookkeeper: fixing the mess is always more expensive than having a professional in from the start. 20:25
📈 Taking mom-guilt mentality into our businesses: how to get to the $1 million mark with your business. 22:43
🤓 How to think about delegating: getting from six figures to seven figures in your business. 25:36
⚠️ It's not about what you make. It's about what you keep: what to check about numbers - practical tips. 27:56
🥇 Profit First and meeting Mike Michalowicz. 32:01
💸 Why women don’t pay themselves salary: the usual mistake for business owners is being in the wrong legal and tax setup. 34:00
🎤 Pam will be a speaker on She Leads Live 2024 conference where she will share more tips about money management. 36:30
Links:
Website: www.pamjordan.com
Pivot Business Group: www.pivotbusinessgroup.com
-Connect with Adrienne: www.sheleadsmedia.com
-Listen to podcasts for women by women on the She Leads Podcast Network: www.sheleadspodcasts.com
-🎟️ Buy tickets to She Leads LIVE 2024 here:
https://bit.ly/SheLeadsLIVE2024
>> "I love ❤️ Adrienne and The She Leads™ Podcast!” If that thought crossed your mind at any time while listening to our special show, can I ask you to please take a moment and give our podcast some love? To do so, simply Rate, Review & Follow Us on Apple Podcasts & Spotify. Taking this simple action helps my team and I to spread the word about all the incredible guests of The She Leads Podcast and contributes overall to helping women leaders and entrepreneurs everywhere! 🗺️ Also, if you haven’t done so already, please +follow the podcast so you never miss an episode. Thank you so much!! XO -Adrienne <<
