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Episode 92 – Messing with the Numbers

To become financially free we have to know our numbers personally and in our business. Especially as entrepreneurs, we need to understand what’s coming in, what’s going out, when to spend, when to save, how to spend, how to save, and what to use to grow the business. We have to learn to be financially literate and understand the fundamental basics of needs vs wants, budgeting, paying yourself first, and the mess of finances inside and out. Join our expert, Nelson Soh, who is an expert in this area as he shares all about cashflow and shoebox accounting.

“I believe that through knowledge and discipline, financial peace is possible for all of us.”

– Dave Ramsey

NELSON soh

CFO | Entrepreneur | Author | Financial Literacy Educator

ABOUT OUR EXPERT NELSON SOH

Nelson is a Chartered Accountant (now referred to as Chartered Professional Accountant) and a University of British Columbia, Sauder School of Business graduate who brings a wealth of knowledge from a diverse experience background. Nelson started his career as an external auditor in public practice working with publicly traded companies, private small businesses, not-for-profit, and government organizations.

After transitioning out of public practice, Nelson has worked with a wide variety of companies including a:

Fortune 1000 company
SKYTRAX Top 5 globally ranked airlines
Industry-leading premium fitness franchise
Canada-wide healthcare company
Tech company that forefronts the experimentation and website optimization industry

Question

First: “What tools do you recommend for tracking finances and how is the best way to make sure I’m doing it right?” Second: “Do I need a line of credit for my business?” Third: “Should I consider using the SBA for a loan? If not, where do you suggest I get financial help to grow my business?”