Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success.

Chapter 6: Help From Experts

1. You emphasize the importance of sales in transitioning from being a contractor to a full-fledged entrepreneur. Can you elaborate on the specific skills or strategies that entrepreneurs should develop to effectively generate sales and set growth targets?
2. As businesses grow, the need for delegation and building a capable team becomes crucial. What are some key traits or skills you look for when selecting team members or experts to help scale a business, and how can entrepreneurs ensure they maintain accountability and communication with their team?

Chapter 7: You

1. You discuss the importance of personal growth and the challenge of aligning on growth content with your partner. Can you share some specific voices or resources that have significantly influenced your journey, and how can individuals navigate differing perspectives on personal development within their relationships?
2. You mention the idea that entrepreneurship can provide meaning through personal and professional growth, despite the inherent uncertainties of business. How can entrepreneurs find a balance between the pursuit of success and the need for personal fulfillment, especially when faced with the pressures of achieving financial goals?

In this episode, Brian discusses:

• Transitioning from contractor to entrepreneur through sales growth and team building
• Selling predictable cash flow businesses to create wealth opportunities
• Personal growth and overcoming challenges inherent in entrepreneurship
• Importance of expert advice and hiring specialized talent
• Draw inspiration from influential figures to push beyond comfort zones

Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/

Connect with Brian:

Website: https://www.contigoadvisors.com/

LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/

YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw

Facebook: https://www.facebook.com/brianbasingercpa

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success.

1. Understanding Tax Strategy: You mentioned that many entrepreneurs overlook the importance of tax strategy, often resulting in significant overpayment. What are some common misconceptions or mistakes you see entrepreneurs making when it comes to managing their tax obligations, and how can they start to shift their mindset?
2. Proactive Planning: You emphasize the necessity of being proactive rather than reactive in tax planning. Can you elaborate on some specific steps or strategies that business owners can implement to proactively manage their tax situations, especially as they approach key financial milestones?
3. What are some common misconceptions entrepreneurs have about tax deductions, and how can they shift their mindset from simply asking, 'Can I deduct this?' to proactively strategizing 'How can I deduct this?' to maximize their savings?

In this episode, Brian discusses:

• Strategic tax planning reduces expenses and maximizes savings for entrepreneurs
• CPAs focus on retrospective preparation; proactive tax planning is essential
• Planning financial events and leveraging deductions minimize tax liability
• Shifting expenses to family management companies enables additional savings
• Tax strategy pillars: deductions, entity structures, and investment incentives

Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/

Connect with Brian:

Website: https://www.contigoadvisors.com/

LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/

YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw

Facebook: https://www.facebook.com/brianbasingercpa

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

Brian Basinger, a certified public accountant and author of Bottom-Line Profits. Brian's book dives into the philosophies and strategies that empower small business owners to go beyond profit to find real, meaningful growth. In this episode and in some future episodes, we'll explore not only how to maximize profits, but also how to build a life and business you're genuinely proud of. Join us as we unpack insights into personal growth, business challenges, and the journey to Bottom line success.

1. In your story about using leverage to move the pool without draining it, you describe how applying leverage makes the impossible achievable. How does this idea of leverage apply to entrepreneurs, and what would you say is the most overlooked form of leverage in business?
2. You've highlighted the distinction between personal debt and investment debt, emphasizing how each can impact financial freedom differently. Can you share how entrepreneurs can best assess when taking on debt could serve as leverage rather than a burden?
3. Alex Hormozi emphasizes the value of deep, repeated study of a single great book over skimming multiple mediocre ones. Can you share an example from your own experience where focusing on one resource or method led to a significant breakthrough in your expertise or business growth?

In this episode, Brian discusses:

• Strategies for leveraging debt and investments for income-generating assets
• Importance of effective delegation to maximize entrepreneurial efficiency
• Focused efforts versus scattered tactics for sustained success
• Value of deep, repeated study of impactful books over superficial reading
• Distinction between consulting expertise and business ownership leveraging others' time

Bottom-Line Profits BOOK: https://www.amazon.com/dp/B0DHCM9B6C/

Connect with Brian:

Website: https://www.contigoadvisors.com/

LinkedIn: https://www.linkedin.com/in/brian-basinger-cpa/

YouTube: https://www.youtube.com/channel/UCp0f3OMiQOpPtz9wIiIPBJw

Facebook: https://www.facebook.com/brianbasingercpa

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.