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10: Managing Business Finances, Hiring Your First Employee, and Making Smart Investments

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Have you ever wondered how other business owners are managing their business finances and making money moves? In today’s episode, I’m talking to Kenzie Harkey, the CEO of Simply Dare, on her business finance journey, hiring her first W-2 employee, and how smart investments have helped her level up her business. Kenzie did my Profit + Prosper program last fall, so if you’re feeling inspired to make a smart investment in your business, enroll now before we kick off on April 11th, 2022!

Are you looking for more information on how to build wealth with your business and generate your first $1M? Sign up for my free weekly email series, Millionaire Mondays!

Some key takeaways from Kenzie’s experience:

  • While W-2 employees are more expensive to hire than contractors, there is a cost benefit to having another higher level person on your team to increase your capacity and therefore your revenue and profit.

  • Implementing some form of the Profit First method is super effective for having a strong grasp on your business finances. Being able to see where every single dollar is going is crucial for making investment decisions in your business.

  • Make investments in your business. Invest in courses, people, and books that you can learn from to get to the next level in your business. If there are things that aren’t sustainable or possible to DIY, it’s totally worth it to outsource those things to a professional.

If you love the podcast, please leave me a review on Apple podcasts and share with a friend! This helps me share more knowledge with people like you so they can become more financially literate, create more profit in their business, and feel more financially stable and secure. Click here and scroll to the bottom to leave a review and make sure to let me know what you're finding the most helpful!

Simply Dare is a lifestyle and organizing company based in Charlotte, NC. They help individuals and families simplify and style their homes in addition to offering relocation services in which the Simply Dare team will pack, unpack, and set up systems for new home or post-renovation move-ins.

Do you have a question or topic you’d like me to cover on the show? Click here to send us your submission!

Connect with Kenzie & Simply Dare!

Resources mentioned:

I’m Sarah Young - a CPA, Virtual CFO, and the Owner of Young + Co! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, and I started the Profit + Prosper podcast to help you do the same. Profit + Prosper is a business finance podcast created to help entrepreneurs build their wealth in a way that’s fun and empowering. This is NOT a boring numbers podcast - I will share tactical tips to increase your profit so you can truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!

Connect with Sarah:

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