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Unlocking Financial Success: Strategies for Real Estate Investors and Business Owners

Join Mayumi Young, CPA, at the Insider’s Summit for an insightful workshop designed to empower real estate investors and business owners. This engaging session will focus on mastering financial fitness with practical strategies. Learn about the importance of financial statements, leveraging the right technology, and building a strong wealth team. Discover how to apply best practices in accounting data management and develop a scalable business model. Note: This workshop is for educational purposes only; consult professionals for specific advice.

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Unlocking Financial Success: Strategies for Real Estate Investors and Business Owners

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  1. Insider’s Summit Mayumi Young, CPA Presented

  2. Legal Disclaimer This workshop is not intended to be for legal, accounting, or tax advice. Information provided throughout the program is for general educational purposes only. We recommend that you seek professional legal, accounting, or tax advice as you deem necessary. cpa-moms.com

  3. Money Mastery “It is financial fitness (mastering the game), not financial literacy (mastering the rules) that leads to financial success.” Your Life and Your Legacy, Roger Hamilton

  4. Mastery Takes Time cpa-moms.com

  5. We all start somewhere… cpa-moms.com

  6. …to develop mastery. cpa-moms.com

  7. Four Levels of Learning • Unconsciously Incompetent • Consciously Incompetent • Consciously Competent • Unconsciously Competent LEARN HOW TO: be a real estate investor be a business owner

  8. Best Practices “It's not what you've got, it's what you use that makes a difference.” ZigZiglar

  9. Why?

  10. Why Use Financials? Business plans are the business owner’s map. Financial statements are the business owner’s compass. cpa-moms.com

  11. The Numbers Don’t Lie cpa-moms.com

  12. finding the right solution Accelerate Your Growth (from a Financial Perspective): • Accounting Technology • Financial Systems • Leverage Wealth Team cpa-moms.com

  13. finding the right solution WHY have QUICKBOOKSor any accounting software for that matter? Use the RIGHT TOOL for the job! cpa-moms.com

  14. financial systems • Electronic Systems • Paper Systems • Policies • Procedures • Reporting • Money Movement cpa-moms.com

  15. How?

  16. BUSINESS OWNERS: FOCUS ON USE OF DATA cpa-moms.com

  17. Cashflow Report Profit & Loss Report cpa-moms.com

  18. What is the Difference? Cashflow: Measures how timely, and responsible the business has been in utilizing all sources of cash during a period time. Profit & Loss (Income Statement): Measures how productive, and profitable a business has been in its operations during a period of time. cpa-moms.com

  19. Garbage In / Garbage Out cpa-moms.com

  20. 3 Simple Steps Start with Good Data, Consistent Practices, and Proper Tools: • Enter/Compile data in QuickBooks. • Run, reconcile & review reports (no less than once a month). • Be accountable to the results & make choices/corrections as needed. repeat until you retire… cpa-moms.com

  21. 3 Numbers to Know(without looking at the books) 1. Gross Monthly Revenue 2. Total Monthly Recurring Cash Out (“Cash Burn Rate”) 3. Profit Margin (as a % of revenue) cpa-moms.com

  22. Wealth Team “Talent wins games, but teamwork and intelligence wins championships.” - Michael Jordan

  23. FOCUS ON GROWING A PROFITABLE BUSINESS & SURROUND YOURSELF WITH FINANCIAL EXPERTS “An expert is someone who has succeeded in making decisions and judgments simpler through knowing what to pay attention to and what to ignore.” Edward de Bono cpa-moms.com

  24. business questions for growth • Where Can I Leverage? • How Can I Create a Scalable Business Model? cpa-moms.com

  25. Assign & Measure: KPI of the Deal, Business & Team • Marketing: # of Leads, avg cost per deal • Sales: avgconversion % from lead to close • Real Estate Agent: avg profit per agent, avg # of deals per agent cpa-moms.com

  26. Attracting the Right Money Partners • Be a good steward of your investors’ money (and your own!) • Be prepared to show historical actual results and financial projections based on historical data (business and/or deal) • Be financially literate cpa-moms.com

  27. Wealth Team • Accountant • Tax Planner • Banker • Attorney • Insurance Professional • Financial Planner • Coach • YOU! cpa-moms.com

  28. BUILD SYSTEMS & AUTOMATE USE THE RIGHT TOOL FOR THE “JOB” MAINTAIN YOUR FINANCIAL INTEGRITY USE YOUR FINANCIALS & CORRECT OFTEN LEVERAGE EXPERTS BEST PRACTICES cpa-moms.com

  29. Market Research

  30. www.cpa-moms.com • (877) CPA-MOMS For additional complimentary training, resources & support customized specifically for the FortuneBuilders community make sure you specify: FORTUNEBUILDERS in the “how did you hear about us” field.

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