Welcome back to Strategic Counsel by ForthRight Business! Looking for Marketing Smarts? You’re in the right place. After almost 4 years of helping to make you savvier marketers, we decided to broaden this podcast to include more business-oriented topics that will make you savvier business leaders.

In this episode of Strategic Counsel by ForthRight Business, we’re talking clarity on where to focus with finances with Michael Barbarita. Listen to the episode on Apple Podcasts, Spotify, and your other favorite podcast spots – follow and leave a 5-star review!

• Episode Summary & Player
• Show Notes
• Marketing Smarts Summary
• Transcript

Financial Scorecarding: Focusing on What Matters for Your Business with Michael Barbarita, Next Step CFO

Many of us are not CFOs or finance gurus. But, understanding the financial metrics that drive the business is critical – no matter how intimidating a P&L or balance sheet can be. It can feel overwhelming thinking you need to track and understand every input and output. It just gets distracting, sending you in circles. We wanted to give you some clarity on where to focus when it comes to finances, so we welcomed on Michael Barbarita, Founder of Next Step CFO. He helps small business owners create more time freedom and more consistent profits by helping you implement financial and business strategies your competition is not using. Here’s a small sample of what you will hear in this episode:

• The Vital Five financial metrics
• Three components of professional forecasting
• Who should you involve in financial strategy
• Mindset shifts for business growth
• The components of a compelling offer

And as always, if you need Strategic Counsel, don’t hesitate to reach out to us at: ForthRight-People.com.

Check out the episode, show notes, and transcript below:

Show Notes

• Financial Scorecarding: Focusing on What Matters for Your Business with Michael Barbarita, Next Step CFO
  
  • [0:00] Welcome to Strategic Counsel by ForthRight Business
  • [1:26] Welcome to the show, Michael Barbarita!
  • [1:54] Michael’s business journey and lessons learned
  • [7:13] The vital five financial metrics
  • [9:43] Why business owners don’t track financial metrics
  • [11:35] The strategic role of a CFO (Chief Financial Officer)
  • [16:47] How to identify customer problems in any industry
  • [19:07] The components of a compelling offer
  • [23:21] How to integrate of marketing, sales, and finance
  • [25:45] Three components of professional forecasting
  • [28:33] Who should you involve in financial strategy
  • [31:46] Mindset shifts for business growth
  • [36:40] Strategic business planning implementation
  • [39:46] How to test ideas you love
  • [44:38] Getting team agreement on what’s working vs. not working
  • Quick-Fire Questions
  • [48:15] What Michael is reading: The Compound Effect by Darren Hardy
  • [48:29] His favorite lesser known destination
  • [49:36] The worst advice he’s ever received: “Listen to the customer”
  • [50:04] Connect with Michael Barbarita and Next Step CFO
  • Make sure to follow Strategic Counsel on your favorite podcast spot and leave us a 5-star review on Apple Podcasts
  • Learn more at ForthRight-People.com and connect with us on Facebook, Instagram, and LinkedIn

What is Strategic Counsel?

Welcome back to Strategic Counsel by ForthRight Business! Looking for Marketing Smarts? You’re in the right place. After almost 4 years of helping to make you savvier marketers, we decided to broaden this podcast to include more business-oriented topics that will make you savvier business leaders.

Thanks for listening Strategic Counsel. Get in touch here to become more strategic.

Transcript