In episode 9 of Built By Margin, Laurie Chen interviews Samuel Crane, President & CEO at Desert Rivers Credit Union, and Franchise Owner of Cinch I.T., as he highlights the importance of financial planning, the lessons learned from startup capital, and the balancing act of growth versus profitability.
Tune in to learn about the intersection of finance, technology, and community impact.
TIMESTAMPS
[00:02:25] Startup capital for new businesses.
[00:06:39] Growth vs. scaling in business.
[00:10:33] Custom core software in credit unions.
[00:15:01] Tough business decisions with friends.
[00:19:22] Hiring a CPA early on.
[00:24:28] Global expansion.
[00:27:17] Mind shift in business growth.
[00:32:31] Underrated financial growth metrics.
[00:35:01] Love for the backcountry.
QUOTES
- "Always get more startup capital than you think you're going to need… And so you have to learn how to balance risk with what regulators are comfortable with." - Samuel Crane
- "It takes a lot of time to troubleshoot. So... You've got to buy back your time as the founder or the CEO, and you want to spend your time on the things that actually makes the business money." - Laurie Chen
- "And talk about a mind shift. If you're ready for it, I would just say, be open-minded about some of the concepts because sometimes the whole idea around scarcity versus abundance, that one took me some time to get around." - Samuel Crane
SOCIAL MEDIA LINKS
Laurie Chen
Instagram: https://www.instagram.com/lauriechencpamba/
Facebook: https://www.facebook.com/lauriechencpamba
LinkedIn: https://www.linkedin.com/in/lauriechen/
Samuel Crane
Instagram: https://www.instagram.com/samuelcraneceo/
Facebook: https://www.facebook.com/sam.crane.35/
LinkedIn: https://www.linkedin.com/in/samuel-crane/
WEBSITES
Built By Margin: https://www.builtbymargin.com/
Advanced CFO: https://www.advancedcfo.co/
Desert Rivers Credit Union: https://www.desertriverscu.com/
Cinch I.T.: https://cinchit.com/
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