Simplicity and Honesty in Accounting with Greg Crabtree
Episode 58 of the Business Reimagined with Danny Iny podcast, hosted by Danny Iny, Founder and CEO of Mirasee and Best-Selling Author, titled "Simplicity and Honesty in Accounting with Greg Crabtree" was published on July 26, 2016 and runs 28 minutes.
July 26, 2016 ·28m · Business Reimagined with Danny Iny
Summary
For any business, profit is like oxygen. You can't live long without it. It's also the key to building real wealth. If your accountant doesn't understand that, he could have you spending a dollar to save 40 cents. What kind of accounting is that? The kind that will strangle your company's profitability and growth. Today's guest, Greg Crabtree, is a new type of accountant. After working with hundreds of entrepreneurs, he provides his clients with something that few other CPA's even bother with: sweeping insight into the numbers businesses can APPLY to make business decisions. This shouldn't be revolutionary, but in today's financially illiterate world, it is. Discover: The simple numbers successful entrepreneurs use to make decisions that accountants don't even consider Why writing a big check to the IRS means you're creating wealth Why 10% is the new 'break even' businesses should be aiming for The app to help you make your business accounting simple If your accountant is AFRAID of you making a profit, you NEED to hear this episode with Greg Crabtree, CPA. KEY POINTS: At 3:30 – Greg explains why it's a terrible idea to spend away your profits at the end of the year to 'save' on taxes. At 7:00 – Danny and Greg discuss behavioral economics and how Greg uses it to help entrepreneurs be more profitable. At 13:00 – Greg shares the numbers he looks at every day, every week, and annually. Businesses can follow this same mentality to be more aware of how they're doing. At 20:00 – Danny and Greg discuss how the framework can help seasonal and cyclical businesses manage their accounting. At 24:00 – Greg talks about the new app that will allow you to bucket your accounting data and create 'simple numbers' reports to help you make business decisions.
Episode Description
For any business, profit is like oxygen. You can't live long without it. It's also the key to building real wealth. If your accountant doesn't understand that, he could have you spending a dollar to save 40 cents. What kind of accounting is that? The kind that will strangle your company's profitability and growth. Today's guest, Greg Crabtree, is a new type of accountant. After working with hundreds of entrepreneurs, he provides his clients with something that few other CPA's even bother with: sweeping insight into the numbers businesses can APPLY to make business decisions. This shouldn't be revolutionary, but in today's financially illiterate world, it is. Discover: The simple numbers successful entrepreneurs use to make decisions that accountants don't even consider Why writing a big check to the IRS means you're creating wealth Why 10% is the new 'break even' businesses should be aiming for The app to help you make your business accounting simple If your accountant is AFRAID of you making a profit, you NEED to hear this episode with Greg Crabtree, CPA. KEY POINTS: At 3:30 – Greg explains why it's a terrible idea to spend away your profits at the end of the year to 'save' on taxes. At 7:00 – Danny and Greg discuss behavioral economics and how Greg uses it to help entrepreneurs be more profitable. At 13:00 – Greg shares the numbers he looks at every day, every week, and annually. Businesses can follow this same mentality to be more aware of how they're doing. At 20:00 – Danny and Greg discuss how the framework can help seasonal and cyclical businesses manage their accounting. At 24:00 – Greg talks about the new app that will allow you to bucket your accounting data and create 'simple numbers' reports to help you make business decisions.
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