Presented

Insider’s Summit

Mayumi Young, CPA

Legal Disclaimer

This workshop is not intended to be for legal, accounting, or tax advice. Information provided throughout the program is for general educational purposes only. We recommend that you seek professional legal, accounting, or tax advice as you deem necessary.

cpa-moms.com

Money Mastery“It is financial fitness (mastering the game), not

financial literacy (mastering the rules) that leads to financial success.”

Your Life and Your Legacy,

Roger Hamilton

Mastery Takes Time

cpa-moms.com

We all start somewhere…cpa-moms.com

…to develop mastery.

cpa-moms.com

Four Levels of Learning

1. Unconsciously Incompetent

2. Consciously Incompetent

3. Consciously Competent

4. Unconsciously Competent

LEARN HOW TO:

be a real estate investor

be a business owner

Best Practices

“It's not what you've got, it's what you use that makes a difference.”

Zig Ziglar

Why?

Why Use Financials?

Business plans are the business owner’s map.

Financial statements are the business owner’s compass.

cpa-moms.com

The Numbers Don’t Lie

cpa-moms.com

finding the right solutionAccelerate Your Growth (from a Financial Perspective):

1.Accounting Technology

2.Financial Systems

3.Leverage Wealth Team

cpa-moms.com

finding the right solutionWHY have QUICKBOOKS or any accounting software for that matter?

Use the RIGHT TOOL for the job!

cpa-moms.com

financial systems

cpa-moms.com

Electronic Systems

Paper Systems

Policies

Procedures

Reporting

Money Movement

How?

• How much is your business worth?• How healthy & wealthy is your

business?

BALANCE SHEET

• How effective & productive are you with your business assets?

• How profitable are you?

PROFIT & LOSS

• Are you self-sufficient?CASHFLOW

BUSINESS OWNERS: FOCUS ON USE OF DATA

cpa-moms.com

Cashflow Report

Profit & Loss Report

cpa-moms.com

What is the Difference?

Cashflow: Measures how timely, and responsible the business has been in utilizing all sources of cash during a period time.

Profit & Loss (Income Statement): Measures how productive, and profitable a business has been in its operations during a period of time.

cpa-moms.com

Garbage In / Garbage Out

cpa-moms.com

3 Simple Steps

Start with Good Data, Consistent Practices, and Proper Tools:

1.Enter/Compile data in QuickBooks.

2.Run, reconcile & review reports (no less than once a month).

3.Be accountable to the results & make choices/corrections as needed.

repeat until you retire…cpa-moms.com

3 Numbers to Know(without looking at the books)

1. Gross Monthly Revenue

2. Total Monthly Recurring Cash Out (“Cash Burn Rate”)

3. Profit Margin (as a % of revenue)

cpa-moms.com

Wealth Team

“Talent wins games, but teamwork and intelligence wins championships.”

- Michael Jordan

“An expert is someone who has succeeded in making decisions and judgments simpler through knowing what to pay attention to and what to

ignore.”

Edward de Bono

FOCUS ON GROWING A PROFITABLE BUSINESS & SURROUND YOURSELF WITH FINANCIAL EXPERTS

cpa-moms.com

business questions for growth

Where Can I Leverage? How Can I Create a Scalable Business

Model?

cpa-moms.com

Assign & Measure: KPI of the Deal, Business & Team

Marketing: # of Leads, avg cost per deal Sales: avg conversion % from lead to

close Real Estate Agent: avg profit per agent,

avg # of deals per agent

cpa-moms.com

Attracting the Right Money Partners

Be a good steward of your investors’ money (and your own!)

Be prepared to show historical actual results and financial projections based on historical data (business and/or deal)

Be financially literate

cpa-moms.com

Wealth Team

AccountantTax Planner BankerAttorney Insurance ProfessionalFinancial PlannerCoachYOU! cpa-moms.com

BEST PRACTICES

1. BUILD SYSTEMS & AUTOMATE2. USE THE RIGHT TOOL FOR THE “JOB”3. MAINTAIN YOUR FINANCIAL INTEGRITY 4. USE YOUR FINANCIALS & CORRECT OFTEN5. LEVERAGE EXPERTS

cpa-moms.com

Market Research

For additional complimentary training, resources & support customized specifically for the FortuneBuilders

community make sure you specify:

FORTUNEBUILDERS in the “how did you hear about us” field.

www.cpa-moms.com(877) CPA-MOMS