Show Notes: How to Always Make a Profit in Business

Duration: 00:32:08

Released Date: December 05, 2023

Host/s:
Tania Gomez and Paul Bryan

Guest/s: 
Steven Franks
(Higher Purpose Accounting)

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Summary

In this episode of the Profitable NDIS Provider podcast, hosts Tania Gomez and Paul Bryan interview Steven Franks of Higher Purpose Accounting about the crucial aspects of maintaining consistent profitability in business. Franks shares valuable insights on how to establish strong financial practices and systems that can help businesses always make a profit. By simplifying complex financial concepts, Franks empowers entrepreneurs to understand their financial obligations and address any issues they may face. Many small businesses fail to prioritize their finances, focusing solely on generating sales without considering their profits, cash flow, and financial buffers. Don’t miss this enlightening conversation on ensuring sustainable business success through effective financial management.

Episode Highlights

0:26 – Talking with Steven Franks about financial management

0:58 – Steven Franks introduces himself and his experience

1:34 – Purpose-type businesses and financial management

2:04 – Financial literacy for businesses

2:26 – Steven Franks’ book and online courses

2:47 – Positive feedback from previous clients

3:40 – The importance of cash flow and financial focus

4:28 – Challenges for NDIS providers in finances

8:33 – Implementing good financial practices

10:32 – Profit First model and percentages

12:12 – Setting up separate bank accounts

17:33 – Metrics and indicators for financial health

19:44 – Paying yourself as a provider

22:27 – Examples of turning finances around for small and medium businesses

27:11 – Takeaways and steps for improvement

29:26 – Getting in touch with Steven Franks

31:37 – Conclusion and invitation to NDIS Christmas party

 

About the Speakers

Steven  Franks has 25+ years of experience with commerce, government and not-for-profit organisations, large and small. He helps NDIS disability, allied health, not-for-profit and for-purpose businesses establish robust financial and administrative management. Steven reviews current processes and systems, identifies issues and opportunities, and creates a road map to financial peace of mind, assisting them in implementing this. He is big on empowering them with financial literacy skills so that they can keep their finger on the pulse of their business and achieve their higher purpose. He released an Amazon best-selling book How the NDIS Can Work for You to help providers navigate this complex area. He also has a range of online courses and group programs to support this cohort further.


Learn more about Steve’s courses and programs:

7 Cash Improvement Strategies in 7 Days

Upcoming Group Program Financial Fitness:

Master Your Finances, Free Your Time, Grow Your Business! 

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Tania Gomez is a dynamic entrepreneur with a passion for helping NDIS providers run thriving businesses that deliver exceptional care. With over a decade of experience as a successful business owner, Tania has founded four successful businesses – Provider+, Strawberry Solutions, Tania Gomez Consulting and Jelli Beanz. Her mission is to help providers overcome challenges and achieve real business outcomes. At every turn, Tania brings her expertise, energy, and deep commitment to quality and compliance to help providers achieve their goals.

As an NDIS Auditor since 2019, Tania brings a wealth of experience to her consulting work. In addition to her audit expertise and entrepreneurial spirit, Tania holds several qualifications, including a Master of Education (Leadership), Graduate Certificate of Disability Practice Management, and Bachelor of Education (Early Childhood) and Diploma of Quality auditing. Above all, Tania is passionate about helping purpose-led businesses move past compliance for compliance’s sake and sees quality as the secret to a sustainable, profitable and successful business that delivers high-quality outcomes to its clients.

 

Paul Bryan is the Head Coach of Action and Intent, specialising in coaching, training and equipping support businesses in the disability services sector. With 7 years of coaching experience, including 3 focused on the NDIS, Paul is passionate about empowering Australia’s most vulnerable by improving the businesses that support them. 

Through his two coaching programs, Networking Events and Connection Driving Software, Paul helps both entry-level and market leading businesses establish strong foundations and guides growing providers to become people-focused and profitable market leaders. 

Renowned for his practical and informative live workshops, Paul simplifies the complicated and brings practicality to the difficult. 

Having helped numerous providers achieve multimillion-dollar success, Paul’s unique tools and systems are set to empower further growth for providers.

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