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In this episode of Boosting Your Financial IQ, Steve dives into an engaging Q&A session fueled by real questions from listeners who took the Financial IQ Assessment at BYFIQ.com.

From bootstrapping your business and mastering financial strategies to overcoming setbacks and seizing opportunities, Steve shares his personal journey, practical tips, and inspiring insights to help you level up your financial acumen, business savvy, and life strategies.

Tune in to learn how to make smarter decisions and unlock your full potential in business and life.

Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.

Register for the free Measure What Matters Webinar here: https://www.coltivar.com/measure-what-matters-webinar

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Is your business truly profitable, or just looking good on paper? In this episode of Boosting Your Financial IQ, Steve Coughran dives deep into the often-misunderstood world of profitability.

Drawing insights from his book Outsizing and research on 300+ companies, he explains why accounting profit doesn’t always reflect a company’s real financial health. Steve reveals the critical metrics every business owner should know—like return on invested capital (ROIC) and cash flow—and shares surprising findings on how only a small percentage of businesses capture the majority of profits.

Tune in to uncover what it really takes to drive lasting value!

Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.

Register for the free Measure What Matters Webinar here: https://www.coltivar.com/measure-what-matters-webinar

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In this episode of Boosting Your Financial IQ, Steve Coughran emphasizes the importance of proactively managing finances in both business and personal life by following a simple yet powerful principle: pay yourself first. He guides listeners on how to set aside profit consistently by calculating a desired profit percentage, establishing a separate profit account, and making monthly transfers. Steve explains that if transferring money isn't possible, it acts as an early warning sign of potential issues like insufficient working capital or low profitability. He discusses managing accounts receivable, inventory, and accounts payable to maintain healthy cash flow and sustain business operations. Applying this approach enables smarter financial decisions, enhances long-term growth, and avoids common pitfalls that can undermine profitability. Steve encourages listeners to adopt this method to secure their financial future and make disciplined spending choices that contribute to lasting success.

Here's how to get started with Boosting Your Financial IQ:

• Step 1: Test your financial IQ for FREE
• Step 2: Download the FREE app
• Step 3: Take the Fundamentals of Finance course

Disclaimer:
BYFIQ, LLC is a wholly owned entity of Coltivar Group, LLC. The views expressed here are those of the individual Coltivar Group, LLC (“Coltivar”) personnel quoted and are not the views of Coltivar or its affiliates. Certain information contained in here has been obtained from third-party sources. While taken from sources believed to be reliable, Coltivar has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendations. The Company is not affiliated with, nor does it receive compensation from, any specific security. Please see https://www.byfiq.com/terms-and-privacy-policy for additional important information.

Register for the free Measure What Matters Webinar here: https://www.coltivar.com/measure-what-matters-webinar

Support the show