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In this episode, the host converses with Shay Bacani, owner of Centure Financial and a financial strategist specializing in assisting women in business. Shay shares her journey into the financial industry, highlighting the influence of her father and her unexpected path to becoming a fractional CFO and financial strategist. They delve into common financial challenges faced by creative entrepreneurs and discuss strategies for managing money, avoiding pitfalls, scaling businesses, and building wealth. Shay provides insights on the importance of understanding the roles of bookkeepers, CPAs, and CFOs, and when to consider hiring each. She discusses the significant impact of mindset on financial decisions, offering advice on how to rewrite one's financial story for success. The conversation also touches on navigating business growth and strategies for adapting to economic changes, emphasizing the importance of strategic planning and adaptation. Shay encourages thinking big for scaling and provides a practical exercise for setting ambitious financial goals. The importance of having multiple income streams and understanding the differences between growth, scaling, and expansion in business is also discussed. Shay concludes by advising on how to approach business strategies considering the current economy and the value of building trust with consumers.
00:00 Welcoming Shay: A Conversation on Creative Entrepreneurship and Finance
01:06 Shay's Journey: From Corporate Accounting to Empowering Women in Business
06:53 Breaking Down Financial Roles: Bookkeeper, CPA, and CFO Explained
09:03 When to Hire Financial Professionals: A Roadmap for Entrepreneurs
15:35 Common Financial Mistakes and Insights for Growing Businesses
18:42 Investment Strategies and the Importance of Implementation
23:42 Overcoming Victim Mentality and Embracing Collaboration
