Episode Transcript
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(00:05):
Welcome to the Powerof Authority Spotlight.
I'm your host, Michelle Prince,founder and CEO of Performance
Publishing Group, making a Difference.
One story at a time, we'll beshining the light on successful
founders, entrepreneurs, businessowners, and leaders that are getting
results and making a difference.
We'll talk about how they builttheir businesses are creating
(00:26):
movements and leveraging thepower of authority in their.
Own lives.
Be sure to stick around to theend of the show and we'll reveal
how you can be our next guest.
Let's get started.
Hey everybody, and welcome to the Powerof Authority Spotlight, where we shine
the light on entrepreneurs, leaders,founders, people that are doing amazing
(00:48):
things are making a difference in theworld through business and personal life.
So I can't wait to tellyou about my guest today.
He's doing some prettyextraordinary things.
But first, this episode is brought toyou by Performance Publishing Group.
Have you ever thoughtabout writing a book?
Has ever anyone ever toldyou you should write a book?
Well, everyone has a story, andespecially if you're a business
owner, you need to be telling yourstory to build your authority, your
(01:09):
credibility, and make it easy for yourprospects to learn more or to discover.
If you even have a story to share, goto performance publishing group.com.
Grab a free strategy call.
That's performance publishing group.com.
Well, let me introduceyou to my guest today.
Rob Rip knows the ups and downs ofbuilding something from scratch.
As the founder of Intelligent, he spentyears helping fellow founders turn
(01:32):
their financial chaos into clarity.
Rob's no stranger to sleeplessnights over cash flow or the
rush of landing a new client.
I.
He's been in the trenches withentrepreneurs who dream big,
but sometimes struggle to seehow the numbers fit the vision.
After working with corporate giantslike Colgate, Palm Olive, and
Lehman Brothers, Rob realized hispassion wasn't in corporate America.
(01:53):
It was in helping small businesses thrive.
Since launching Thin Inte, he'sdedicated himself to guiding growth
stage companies through the complexworld of finance, giving founders the
tools to unlock their companies wealth.
Outside of work, Rob identifiesmost as father, cherishing time
with his family, a true explorer.
He's traveled to all 50 states,always eager to discover something
(02:14):
new, whether by the beach or inhis favorite corner of the world.
Rob finds inspiration in the journey,Rob's goal to help you see your
business the way he does full ofpotential brimming with opportunity
and absolutely worth the effort.
Welcome to the show, Rob.
Oh, thank you so muchfor having me, Michelle.
I'm excited to be here.
I am so excited because we've gone througha journey together over the last couple of
(02:36):
months, the journey to becoming an author.
And so we're definitely gonna be talkingabout your book Finance for Founders.
But before we do, give a little bit ofyour background how, how did, , yes, you
worked for some huge giants, but whatmade you even wanna go into finance?
, well, I knew from when I was a kid,I had this long cutting business,
, you know, just going out and, andback when kids used to do that
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and I kind of had the sense for, Iwanted to kind of make my own way.
, but I grew up in a familythat had corporate people that
would work for big companies.
And so I kind of went that routethinking that sort I should
do, and I went very quickly.
That wasn't for me.
And so, , I got intofinance because I just.
Like numbers, I like spreadsheets andtechnology and things that we do with it.
And so when I started with intelligent,, I realized that there was this market of
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people, founders that were underserved.
They had smaller companies, maybecouldn't afford big fees for some of
the larger accounting firms, but reallystruggled with knowing their numbers.
And I had some firsthand experiencesknowing how important that is.
, because, , when I left corporate, Iwas actually a chief financial officer
for a smaller company full time.
So I, I had done that and I saw whatwas available to me in that role.
(03:46):
I said, well, maybe there'sa way where I can offer these
types of things to other people.
And I did it initially as anindependent CFO and then a few
years ago, and we decided to scale,hired some staff, brought in some
technology, did some other kinds ofthings, and, , and took it from there.
Yeah.
You know, it's, it's a topic that, , allas speaking for myself as a founder.
It's a topic we all know we're supposedto give more attention to, but yet it
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is the one thing I'll, again, speakingfor myself, the one thing that it
probably gets the least attentionor the, the least passion, right?
Because we got into business forthe, the passion of what we do.
So for sure.
I love that that's what youidentified, that that founders
are, are struggling with this.
What are some of the things you'veseen out there with companies,
small businesses, so any.
(04:31):
Business, the founders, typicallyfinance is something they get around to.
Mm-hmm.
And they know it.
Yep.
And by the time they come to us,they say, Rob, my books are a mess.
I, I work too hard to get justbasic financial information.
I'm catching mistakes that I'mpaying other people to find.
I'm kind of the last to know.
I know there's a better way,but I don't have time for that.
Founders are salespeople,they're inventors, so they
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know their products very well.
They know how to bring in new businessand they know it's important 'cause
they see it in their cash flow.
And I'd say the two things Ihear most when we first start
meeting with prospects, , thefirst is the business is good.
Like it's, we're growing, butI'm just not making enough money.
Like the economics just reallyaren't working out for me.
, and, and the other thing.
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Is they feel some shamearound not knowing this stuff.
Like I know what good businesses do, likeI see people that really have this thing
nailed and I don't know how they do it.
I, I, I, I feel ashamed that I'm,I'm embarrassed to tell you about how
bad things are in terms of our books.
, and I tell 'em, well, I'mactually grateful for that
because if they were good.
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People like us wouldn't exist, right?
I wouldn't have a business.
And because we focus on founders ofcompanies, typically between 2 million
and 10 million of annual revenue,they've got something established.
There's demand for their product.
The market has said we will buy.
And our job is to help them getto that next stage of growth.
Because all these founders arecapitalizing their companies
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with internal cash flow.
They need profit.
And so what we try to do is say,stick with the key three objectives.
We're gonna help you grow sales.
We help you grow profit, help yougrow cash flow, but we're gonna
do that on an outsourced basis.
'cause you can't afford a full-time team.
So true.
And, you know, speaking from, for myselfagain, you know what you said about the
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shame actually, not just for myself.
I've talked to so many other businessowners and we all feel that shame of
like, oh my gosh, my books are a mess.
Or, or I, I should know more or mm-hmm.
I'm not quite.
We don't really have thatexpertise to know what's wrong.
We just know something's wrong.
Mm-hmm.
Mm-hmm.
So, I, I totally see what you'redoing and, and the need for it.
(06:39):
And, and definitely we're gonnabe giving out your information at
the end because those of you whoare listening, you, you already
know you need to be talking to Rob.
Thank you.
Thank you.
I mean, we, we, we do sell financialservices, but I think we're really in
the business of selling confidence.
We want founders to know thatthere's a resource there that's
getting the numbers right.
That's delivering accurate financials,but also communicating in a
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language that founders understand.
, I'm a founder, so I understand thatlanguage, but also within our staff
and within our culture, we're reallytrying to drive home the point that our
role is to be a coach and, and coachesfind ways to, to help, to advise and
to mentor, not to let your or dictate.
I've heard too many stories with peoplethat work with financial people that
were too much about the numbers, toorigid, and we really kind of have
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a, a different approach when we workwith, , the founders that we work with.
Awesome.
So good.
So you and I met a couple months back.
It's been almost a yearmaybe, but , we met through an
organization called Collective 54.
We did, which we are bothmembers of and very happy to be.
Absolutely.
And I remember hearing this afterthis happened, , I, I believe I
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was doing a webinar for them and itwas about writing a book, building
authority, and I think you made acomment to the CEO Greg Alexander.
About, , you writing a book orsomething along those lines.
Do you remember what that was?
I do, I remember that, , that programvividly, , 'cause I asked a question
and I said, , I work in finance andaccounting and I don't know anybody
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who would willingly read a book aboutthat, but I think I'm gonna try anyway.
And Greg said, I'm gonnastop you right there.
He said, if you wrote a book, a good book.
About finance and accounting.
Everybody on this call would readit because it's that important
to founders and he's veryencouraging and very supportive.
And that's where the idea came from andwhat confirmed that was in the chat.
(08:22):
A number of different founders onthat call reached out to me, , saying,
you know, we need this suggestingnames of titles, things like that.
And I.
Reached out to some of them andtalked about my ideas about writing
the book, and it was pretty clearthat there was some hunger for it.
And then I knew I hadto write a good book.
Yeah.
And there was only one person that wasgonna be helping me write a good book.
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And that was you.
And so we connected rightaway and we got things going.
I.
Yeah.
Well, and I just love that because if Ihave a nickel for every time I heard Yeah.
But nobody wants to read a bookabout this or who, who cares
about, you know what I do.
But that's not the point.
The point is, what you do is,so it's, first of all, it's
so needed by every founder.
We've already established that.
(09:03):
Mm-hmm.
But we take for granted a lotof times the information that we
know, and you are literally notjust managing people's accounting.
You are helping them to scale theirbusiness, to sell their business, to, we
are to really profit from their business.
And I know you have so many stories of howyou've worked with , companies to do that.
Could you share some of those?
(09:23):
Sure.
I, I mean ultimately I think alot of people choose this journey
of being a founder becauseof the freedom it gives us.
And we work a lot of hours and alot of people that see founders
on this journey who be like, thatdoesn't seem very free to me.
'cause it seems like you're alwaysworking, but when you're passionate
about something and you have purpose,you're okay putting in the work.
And so.
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The way we help unlock thatvalue is through two things.
How do we help the founder generatemore income when they own the business?
And then we help them maximizetheir value when they sell it.
We wanna work with foundersto get a premium valuation at
exit, as well as good terms.
And so, for example, , a couple yearsago I was working with a, a, a person
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that had a consulting company, , whoknew that her books were a mess.
In fact, , in my book, she wrote the, theForward and she knew she had to do more.
But again, she didn't quite know how I.
And so we went throughthe journey with her.
It took about 18 months of everythingfrom cleaning up the books to putting
in a roadmap to success and, and allthe analytical tools that we have,
as well as advising her on, on howto get to where she wanted to be.
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And eventually she did identify a buyer.
We helped her close the transaction,and she got, you know, that freedom.
She had enough money for that kind offreedom that she wanted, and this is the
culmination of 20 years worth of effort.
And so the financial function activates.
You know, certain things toenable that freedom to occur.
And you know, they say money can't buyhappiness, but it, it can't buy freedom.
And freedom makes people happy.
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And I think that's why a lot ofpeople are on this journey and
that's kind of our role in it.
My mentor and, and employer, , Zig Ziglaryears ago I worked with him, used to
always say, money's not that important,but it is right up there with oxygen.
You just gotta have it.
I love it.
Right.
I love it.
That's great.
I hadn't heard that before.
Yeah.
Yeah.
That's awesome.
Yeah.
Yeah.
Good.
So, and I love that, and, andthat's the whole point of the, the
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why, the book, but, but also justto encourage others listening.
Whatever you do, you arethe expert at it, right?
Yes.
So.
Don't over, , you know,don't overthink it.
Just putting it out there and, andultimately it's to help more people.
And even someone reads your books andthey the book and they never do business
with you, you're still helping them.
I have a personal goal.
(11:31):
, I I wanna help one foundera day just in something.
It could be a, it could be a, areferral, it could be a sales call,
it could be, you know, I have anidea or, or something about it.
There's just something aboutfounders that resonates with me.
Yeah.
Somebody that's willing to kind oftake that risk, , and, and work hard.
They're smart, they'reinnovative, they're funny.
They're a little kooky.
I mean, yeah.
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You know the type and youkind of know how it is.
And so it's a community.
That I love being a part of,and I couldn't see myself
doing anything differently.
So to the extent I could contribute tothat journey in a meaningful way where
people can actually kind of monetize this.
'cause I do think a lot offounders, in fact, pretty much
every founder that I've worked withdoes not get into it for the money.
They get into it to pursue a purpose.
They want to do X, Y, Z.
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They want to, they wantto help other people.
But like you said, money islike oxygen and we do need it.
And the fact is we want to help.
More people in our businesses.
We need to make more money sowe can expand and scale and
be able to do those things.
And, and that's where we help.
That's my mission.
Absolute.
For sure, for sure.
Well, let's talk about the book becauseYes, , I'm super excited about it.
And, , I, I don't wanna takeyour, your, your steam here.
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So tell us what the book is, whatit's called, and what it's about.
So the book is called Finance forFounders, and it's the journey to
unlocking your company's wealth.
And, , what it does is it tells thestory of, of a business owner who tried
to sell her company and failed duediligence and was really shaken by that
and, and, and her confidence shaken.
This is a, a sharp person that thoughtshe had a great business and was rejected.
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And so she vows.
Never to go through that process againby taking a hard look at our financial
operations and engaging a team tohelp show her the path to a very
different outcome next time around.
And so the book actually, , leanson people I've worked with,
situations I've been in.
So there's a lot of truth init, but of course it's a story.
So, you know, we took.
Made it into a story that was interesting.
(13:18):
But the things that happen in thebook are things that actually happen,
and the approach that we adopt is theproven approach that we've seen work.
I mean, I have had people, , exit, youknow, with eight figure valuations.
I mean, life changing types of stuff.
I've been at the table.
I've prepared the payment statementswith, you know, the wire transfers and
the, and the zeros on it and everything.
So I know what it's like and I knowwhere it's from beginning to end.
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And I'd say the message is.
It's actually not that hard.
I think we make it harder than it needsto be, but it does require expertise
and it does require an investment.
And it's not a journey that afounder should go on on their own.
I think they need help for sure they do.
What would be, obviously wewant people to read the book.
Yes.
, but just give us.
A snippet of what, what are some lessonsthat, or what are some things actually
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that founders might not be thinkingabout that they should be thinking
about, , as they're running theirbusiness and preparing their works?
Sure.
When it comes to finance and accounting,there's just so much out there
and what we need to do is filter.
And the first thing we wanna filteron, what are the three objectives?
And in the book we talk about thekey three objectives, and it's
more sales, more profit, more cash.
Now more.
(14:23):
Is not an objective.
We have to quantify those objectivesby using something called a smart goal.
And, and that's an acronym for, , youknow, , , me measurable, achievable, time
bound, you know, all that kind of stuff.
So we have to, we have to bevery specific about what that is.
And then, , what we do is in ourapproach is we look at finance and
accounting according to four pillars.
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, and the pillars are accounting.
That's just getting your, findyour, the four pillars are
accounting, , that's getting yourfoundational financial data correct.
And people get tripped up inaccounting because it's relentless.
It, it's always happening.
What we try to do is adopt a mindsetof your accounting is your data.
It's a data flow and a lot offounders love data, so let's talk
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about it from a data perspective.
Let's get it clean andlet's get it accurate.
From that, we can report on itand not just financial statements.
There's more to reporting to that.
There's, there's charts and graphs andother ways of presenting data so we
can relate it, make it understandable.
Then we get to analytics.
Analysis is important.
It's a roadmap.
Here is a monthly planof your smart goals.
The key three objectives, how we're gonnagrow, sales, profit, cashflow expressed
(15:30):
in what your financial statements.
Could look like a year fromnow, and we kind of roll it.
And finally there's advice.
What are we gonna do strategically tohelp you get to where you need to be?
What are the things now that we'rearmed with this data and this
reporting and, and these analyticsto help you achieve your goals?
So we have to have a conversationaround what is it you wanna do?
What do you see yourselfin three or five years?
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What do you want to get out ofthis experience that you're having?
, and I've had conversations withpeople from anywhere to, I wanna
set up a charitable foundationto, you know, I wanna sail around
the world, whatever it might be.
But if those are your personal goals,and we of course talk about the
business goals, we do spend some timetrying to marry the two and again,
activate it with the sound financialplan, a corporate financial plan to
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help them achieve their ambitions.
So good, so needed and, and, andsimple to people like you, but not
necessarily to the rest of us, right.
Who, who have different passions andhave pursued different, , businesses.
But, , I, I have to let the cat out ofthe bag because I know this is, the book
hasn't even officially launched yet.
(16:35):
The, we are, we're in, in, in gear tolaunch it very, very shortly, but Word
has already gotten out about this book andit's already hit number one, new release.
Which is extraordinary.
Congratulations.
Well, I, I, I have you to thank for that.
I know that the things that we had workedon very hard to promote the book and, and
to make it a good book in the first place.
I think it had something to do with that.
(16:56):
, but yeah, we were, we were thrilled.
We just found out about it.
And, , we will, we will take itfor as long as we can get it.
, but, , yeah, very, very excited.
Well, and I think it's because too,there's just not a lot of information
out there that is founder friendly.
You know, there's a lot of accountingbooks and things like that.
There is that we don't wanna read.
You made this so simple andwhat I really love about the
book is, is the storytelling.
(17:18):
Yes.
Because it's not just, here's what youneed to do, you need to have analytics
and reporting and all of those things.
It's, it's the weaving ofthe story throughout it.
The story is key to the book and, andkey to helping the reader understand
because there is an emotional aspectthat many people have with money,
and we wanted to talk about that.
And, and so through the characters wewere trying to express some things around
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fear and anxiety and making big decisionsand, and risk and what that impact is.
But also with a view towardswhat it could mean for you when
you make the right decisions.
And my hope is that when somebody readsthe book, a couple things will happen.
One is they'll say, I know exactlywhat I need to get from my financial
operation, and two is I'm inspired.
(18:00):
I can do this.
Like I can see a path where I canmaybe finally tackle this thing,
this anxiety, whatever it is.
This things have been nagging me forso long because I just didn't know.
Even what to ask.
I'm hopeful that this bookwill at least equip people with
the right questions to ask.
So when they figure out how they'regonna improve their financial
operations, they at least have aguide, a manual, a book, or something
(18:22):
that they can refer to and say, Hey,it looks like it worked here because
the book does have an outcome in it.
Mm-hmm.
Maybe that can work for me as well, andI would hope that everybody who read
the book can have the same outcome.
That happens in the book.
Oh, me too.
Absolutely.
And just real quick, the, the bookis called Finance for Founders, the
Journey to Unlocking Your Company'sWealth, and where can they get the book?
, Rob.
Well, certainly right nowon your, on your website.
(18:44):
Yes.
So we have a website, , finfor founders.com.
So if you just go to fin for founders.com,
, we have a, a launch team.
Now we're inviting peopleto come in and participate.
The book is available on Amazon, , soyou get kindle paperback and hard cover,
and we're planning on releasing anaudio book price some time in late June.
Yes.
Super exciting.
So one last question is, somebodyreads this book or they listen to this,
(19:07):
, podcast episode and they, they wanna knowmore and they, they wanna think, yeah, I
don't wanna just read about this though.
I need help.
Sure.
What are, how do you engage withfounders and other and companies?
We do.
So my company Intelligent, , does that.
And so typically when a founder wantsto learn more about us, we have a
discovery call and we just kind of gettop line what it is they're looking for.
(19:29):
, but then what we do is when we agreethat there's a good fit, we offer
something called a finsight analysis.
And, , my team operateswith a great tech stack.
We do everything in the cloud.
We use QuickBooks online as ourgeneral ledger, and so we will take
the, the, the, the prospect's data,the person that we're talking to,
and we'll plug it into that system.
And then based on what we've identifiedas their criteria for satisfaction, you
(19:52):
know, what's a good outcome for them.
We'll kind of walk them through.
Here's how we see things unfolding.
These are the analytics we cando for you using your data.
Here's how your financialstatements will look.
These are the cleanup types ofthings that we'll do, and it also
gives them a taste for them to seewhat it's like to work with us.
And so it's kind of a sample I.
, and, and it's a way for them toget comfortable that whether they
(20:13):
choose to work with us or not, maybethey've gotten just a little bit
smarter on something that they'vebeen struggling to get smarter about
and we were able to help in that way.
Which kinda gets back to mycomment earlier about just
trying to help one founder a day.
I.
Oh, I, I, I, and I see you doing that.
You're such a Go-Giver, which, youknow, it just speaks who you are.
Thank you.
Thank you.
But for those listening, definitelygo to fin intelligent.com.
(20:36):
And is that thecorrect, , place to do that?
That's intelligent.com,
correct.
Yep.
And, and get that finsightanalysis, , which I love the plan
on words on that, by the way.
Yeah.
Thank you.
And, , because that's priceless.
That is priceless.
Just, just to start the conversations.
Mm-hmm.
And, , well go ahead.
Well, what I'd also say too, so the termfinsight we actually use in the book,
we actually have some call outs where wetalk about, you know, something specific
(20:57):
that the reader should learn, but alsowithin the book there are resources that
they can download and use on their own.
For example, , some companies.
Struggle with their chart of accounts.
It's a mess.
They don't know whata good one looks like.
Well, we have those.
So if you have a printed book, scanthe QR code or just click a link in
Kindle and it'll take you to a website.
You can download a chart ofaccounts and, and maybe use
it in your, in your practice.
(21:18):
We have due diligence checklists.
We have, , how to calculatevarious analytical measures like,
you know, , cost to acquire acustomer or things of that nature.
So there's a lot of.
Tools in the book that are availablethat you can just take to your
company right now and use todayif you like, and they're free.
Wow.
I mean, that really is helpingan entrepreneur founder one
(21:38):
at a time, one a day at least,because there's so much in there.
So definitely take advantage of that.
, is there anything else thing you wannasay to founders that are listening
who know they need to do somethingwith their, their books, they're
not really sure where to start orany encouragement you wanna leave?
Well, I, I would say if you feellike you're ready, talk to somebody.
, I would say be preparedto make an investment.
It's gonna be an investment of time.
(21:59):
It's gonna be an pre,an investment of money.
And be clear on whatyou want, get out of it.
Because I think a lotof times people just.
Don't know what they want.
, and by example, there's some peoplethat we work with that maybe had a, a
controller or an account or somebodyin their office with them and they
got very used to being able to kindof go down the hall or whatever and,
and talk with them and have themavailable to work on their schedule.
(22:21):
, we're outsourcers so we'repart of the team, but we are
part-time and we are remote.
And so one of the things a foundershould ask themselves is, how do I
actually wanna work with this team?
'cause if I'm used to havingsomebody nearby something like what
we do wouldn't necessarily work.
So I, I'd say get clear on that.
The next thing I would say forreaders who are thinking about
, reading the book, , more thanonce, is to buy more than one copy.
(22:41):
That way you have a copy availableanywhere that you wanna read.
Yes.
Which is just my way ofjust saying buy more books.
'cause you can read the samecop book again, but you know,
and I support you on that, Rob.
Yes, exactly.
So you know, if you can readmore than once, buy a bunch of
copies, keep it in your car, youknow, your office, your bathroom.
So we always have it availablewhenever you need it.
So fun.
I love it.
Well, Rob, thank you somuch for being on the show.
(23:03):
I'm, I'm super excited.
Congratulations on the book andeverything you all you're doing.
It's, , it's really exciting.
Well, thank you for having me.
Michelle, , would not be here without you.
So thank you for your efforts andyour team's efforts, and we're super
excited about what's next for us.
Awesome.
Thanks.
All right, listeners, you need toget out there and get this book.
It is.
It's an incredible book.
It really is.
It's an easy read.
(23:23):
If I can, if I can learn from itand grow from it, you can too.
So go to fin for founders.com
and make sure to really learn allthese, the three key objectives.
You know, Rob made it super, super simple.
It's, it's sales, it'sprofit, it's cash flow, right?
We all know that.
But how do we do that?
That's, that's all in the book.
And learning those fourpillars, you know, accounting.
(23:44):
Reporting analytics advice.
Those are all the, the fourcomponents and, and again, all
laid out for you in the book.
Finance for Founders,get it@finforfounders.com
and that is it for the Powerof Authority Spotlight.
We'll see you next time.
Thank you.
(24:06):
Thanks so much for listening tothe Power of Authority Spotlight.
If you are a successful founder,entrepreneur, business owner, or
leader that's getting results andmaking a difference, and you'd like
to be on this program, please visitperformance publishing group.com/podcast
to apply.
That's performancepublishing group.com/podcast.
(24:29):
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(24:50):
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(25:11):
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Thanks so much for listening,and we'll see you next time.