The Cost of Faking It in Business | Candace Galiffa | Founder, NewWay Accounting

What if the fear you have around spreadsheets, taxes, and bookkeeping is actually holding your entire business back? In this episode, Candace Galiffa, founder of NewWay Accounting, shares how to stop running your business like a hobby and start making powerful, strategic financial decisions. We talk about what real financial strategy looks like, why knowing your net profit is more important than your revenue, and how to stop playing small when it comes to your money mindset. Kara and Candace also discuss the unique challenges that women entrepreneurs face around money, from pricing to profit to power, and how a values-led approach to accounting can help founders of small, successful businesses finally feel like the CEOs they really are. Whether you’re spreadsheet-averse or already running a multi-six-figure company, this episode will show you why financial confidence is one of the most powerful tools in your business. 00:00 A “cute little hobby” that turned into a thriving firm 01:45 The Instagram algorithm (finally) doing something right 03:00 Why spreadsheets terrify so many new entrepreneurs 05:20 IRS jail, tax shame, and other unnecessary fears 07:00 Your first steps: open a separate account and start tracking 08:45 The difference between bookkeeping and tax strategy 10:15 How financial clarity impacts everything, including relationships 12:00 Treat your business like the business you want it to be 13:15 How often do you really need a bookkeeper? 15:40 From corporate job to quitting, and a husband swapping roles 17:30 Building a fully remote team and a values-led culture 28:00 The team that saved clients $1.2M and what that means The Powerful Ladies podcast, hosted by business coach and strategist Kara Duffy features candid conversations with entrepreneurs, creatives, athletes, chefs, writers, scientists, and more. Every Wednesday, new episodes explore what it means to lead with purpose, create with intention, and define success on your own terms. Whether you're growing a business, changing careers, or asking bigger questions, these stories remind you: you're not alone, and you're more powerful than you think. Explore more at thepowerfulladies.com and karaduffy.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices