We’re Back! Refreshed, Recharged, and Ready to Nail the Numbers
About this episode
After a break to reflect, regroup and grow, Nail the Numbers is back with a new season focused on helping home service and service-based businesses know, understand and trust their numbers.
In this first episode back, Kerry shares what’s changed at Abacus, including a bigger team, new fractional CFO services with Melanie Sloan of Iron Horse Consulting, and guest voices coming to the show. She also explains why there’s no judgment about the state of your books, and how Profit First has transformed her own business, where every dollar has a purpose.
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Key takeaways from this episode
- No matter how messy your books are, there’s no judgment: draw a line and move forward.
- Cleaning up and catching up books takes weeks or months, not a day.
- If you don’t know where you are now, you can’t set or reach your goals.
- Profit First gives every dollar a purpose, so taxes, profit and owner pay are always set aside.
- Owners should be paid properly and consistently for the work they put in.
- A fractional CFO is critical if you’re planning to grow and exit.
Show notes
Why the break
Kerry took time to reflect on where Abacus has come from and where it’s going. That included bringing on a marketing agency, refreshing the website and logo, and growing the team to serve more home service and service-based businesses.
What’s new for the podcast
The show is going weekly again and will feature more guests sharing their real-world experiences, alongside the usual focus on profitability and knowing your numbers.
When bookkeeping goes wrong
Kerry shares how hard it is to see businesses that did the right thing by hiring a bookkeeper, only to find mistakes or books left untouched for months. She explains why there’s never any judgment at Abacus, and why getting accurate numbers takes time.
Fractional CFO services with Melanie Sloan
Abacus has partnered with Melanie Sloan of Iron Horse Consulting, who has helped a company grow from $12 million to $20 million and exit. Together, accurate bookkeeping and fractional CFO support help owners plan for growth and exit.
Profit First in Kerry’s own business
Kerry runs her business on 20 bank accounts. Money flows from an income account into OPEX, owner’s pay, profit and taxes, then on to accounts like equipment and credit card payments. She explains why paying yourself properly and taking quarterly profit bonuses m