Why 98% of Business Owners Are Flying Blind with Tracy Bech

???? Go to www.JeanMoncrieff.com for all episodes of The Freedom Experience.

Guest: Tracy Bech is the founder of 60 Minute CFO and the author of 60 Minute CFO: Bridging the Gap Between Business and Finance. In this episode, Tracy shares her journey from web developer to multi-million dollar e-commerce entrepreneur and explains the hard-earned financial lessons that led her to create a simplified approach to mastering business finance.

We dive into why profitable businesses often struggle with cash flow, the importance of understanding the balance sheet, and how key financial ratios can help entrepreneurs fine-tune their business engines. Tracy also introduces her framework for navigating the different phases of business growth: Wonder, Blunder, Thunder, and Plunder.

If you want to stop flying blind with your numbers and feel confident about your business finances, this episode is for you.

???? KEY TAKEAWAYS:
- Why a great profit and loss statement doesn’t always mean a healthy bank account
- The importance of understanding the balance sheet for cash flow management
- How to use 12 key financial ratios to optimize business performance
- The four phases of business growth: Wonder, Blunder, Thunder, and Plunder
- Tips on hiring the right bookkeeper, controller, and CFO for your business
- How financial fluency empowers leaders to make better decisions

???? QUOTES
"Maybe 2% of business owners do any kind of financial forecasting."
"We were looking at our income statement thinking we were rich, but our bank account told a different story."
"Your business can be profitable on paper and still be broke in reality."

???? CONNECT WITH TRACY BECH
???? Website: https://www.60minutecfo.com
???? Book: https://www.amazon.com/60-Minute-CFO-Bridging-Business/dp/1946978175
???? LinkedIn: https://www.linkedin.com/in/tracybech

⌚ TIMESTAMPS:
00:00 - The Importance of Financial Planning
02:50 - Tracy Beck's Entrepreneurial Journey
14:44 - Understanding Financial Ratios
20:11 - Overcoming Fear in Financial Planning
24:33 - Key Financial Ratios for Business Owners
30:19 - Key Financial Metrics for Business Success
33:43 - Navigating Business Growth Phases
36:58 - Understanding Cash vs. Profit
39:52 - The Importance of Financial Forecasting
44:45 - Finding the Right Financial Leadership
51:50 - Preparing for Business Exits and Transitions

WHO AM I?
I’m Jean Moncrieff—a business transformation coach, entrepreneur, and creator of entrepreneurial freedom. I help business owners who have hit growth plateaus unlock momentum and reclaim their freedom. With a background in building eight-figure businesses, mastering leadership, and overcoming burnout, I’m passionate about helping others achieve sustainable growth and purpose-driven success.

???? CONNECT WITH ME:
???? LinkedIn: https://www.linkedin.com/in/jeanmoncrieff/
???? Instagram: https://www.instagram.com/jean.moncrieff/
???? Website: https://www.jeanmoncrieff.com/
???? Masterclass: https://emerge.scoreapp.com/
????️ Newsletter: https://www.jeanmoncrieff.com/newsletters/emerge-insights

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