Summary
In this episode, Jason Kruger, a partner at Citrin Cooperman, shares insights on the importance of accounting in business growth and decision-making. He discusses his journey from public accounting to entrepreneurship, the challenges of scaling a business, and the significance of building strong relationships with financial institutions. Jason emphasizes the need for financial education among business owners and the value of leveraging accountants for strategic planning and maximizing business value for exit. He also highlights common mistakes small businesses make and the importance of understanding cash flow and financial health.
Takeaways
- Understanding cash flow is critical for business success.
- Building relationships with banks can provide valuable support.
- Sales strategies should focus on building relationships, not just transactions.
- Accountants can help businesses maximize their value for exit.
- Establishing processes early on is key to scaling a business.
- Finding the right partners can fill gaps in expertise.
- Financial education is essential for business owners.
- Outsourcing accounting can be more cost-effective than hiring in-house.
- Visibility into financials allows for better decision-making.
- Common mistakes include neglecting inventory management.
Chapters
00:00 Introduction to Jason Kruger and Citroen-Couperman
02:13 Jason's Career Journey and Entrepreneurial Insights
05:34 Growth Challenges and the Decision to Sell
09:38 The Importance of Partnerships in Business
14:34 Navigating Industry Transitions and Finding Expertise
23:48 Leveraging Accountants for Business Growth
26:57 Understanding Business Profitability
32:28 The Importance of Financial Visibility
36:42 Building Relationships with Financial Institutions
40:45 Outsourcing vs. Internal Accounting
45:01 Overcoming Resistance in Business Leadership
Credits:
Hosted by Ryan Roghaar and Michael Smith
Produced by Ryan Roghaar
Theme music: "Perfect Day" by OPM
The Eggs Podcast Spotify playlist:
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The Plugs:
The Show: eggscast.com
@eggshow on twitter and instagram
On iTunes: itun.es/i6dX3pCOn
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Also available on Google Play Music!
Mike "DJ Ontic":
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Ryan Roghaar:
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