Join Ryan Deiss and I in this enlightening episode of Business Lunch, where they delve into the often-overlooked yet crucial topic of accounting and finance. We discuss how entrepreneurial optimism can clash with the harsh realities of financial reporting. Learn how to navigate these challenges and foster a productive relationship with your CFO to ensure your company’s financial health.
Highlights:
“You’ve got to be incredibly optimistic to be an entrepreneur. It’s about walking very thin ropes without a net.”
“If it’s only doom and gloom, it’s incredibly depressing and inaccurate. We need a balance between optimism and realistic financial reporting.”
“Support the team you’ve got to get the results you need, or you need a different team.”
TIMESTAMPS
- 00:00 – Entrepreneurial Optimism vs. Financial Realism
- 01:05 – Introducing the Topic
- 02:37 – Impact of Changing Accounting Methods
- 03:17 – The Problem with Depressing Financial Reports
- 05:00 – Changing the Financial Reporting Process
- 05:12 – Importance of Accurate Financial Reporting
- 09:38 – Avoiding Obstacles, a Common Entrepreneurial Pitfall
- 10:00 – Support Your Team, or Change It
- 10:29 – Frustrations with Unimplemented Solutions
- 11:15 – The Role of Leadership in Financial Health
