How A Podcast Producer Saved Her Business Finances

Description

When you’re an entrepreneur, financial literacy is everything. The difference between figuring it out as you go and working from a place of knowledge and support is like night and day.

My guest for this episode, Emily Milling, knows that all too well.

Emily’s podcast production agency, The Ultimate Creative, helps entrepreneurs launch amazing, professional podcasts that support their business goals. Without her, you wouldn’t be listening to Think Like a CFO!

But Emily isn’t just my podcast producer, she’s also my client.

Emily’s entrepreneurial journey has taken her from solo entrepreneur to incorporation to partnership to running her business alone again. Along the way, she had to learn how to navigate the tricky and often confusing corporate tax system, dissolve a business partnership, and deal with surprise tax bills.

When I started working with Emily, she felt unsure about her finances and was held back by limiting beliefs about her capability. Since then, Emily has upgraded her financial literacy and learned how to organize a fluid budget that lets her tweak her promotions and offerings in real time in order to keep her revenue in line with her needs and goals.

This episode is an honest and heartfelt look at the challenges of entrepreneurship — and we touch on a number of very important financial topics along the way, including hiring the right financial professionals, how to build a flexible budget, and the importance of long-term planning.

“If you want your business to be successful, if you’re really dedicated to it and you want to make it happen, you really need to be in the trenches with your money and figuring this stuff out.”

— Emily Milling

In this episode, we’ll explore:

The unique challenges of entrepreneurship, from incorporation to taxes
How to plan out a fluid business budget that allows you to adjust and react to what life is throwing at your business
The huge financial consequences of choosing the wrong bookkeeper or accountant — and how to pick the right one

Highlights: