Planning for 2021 financial success with Stephanie Skryzowski (S5E168)

Planning for 2021 financial success with Stephanie Skryzowski (S5E168)

Author: Autumn Witt Boyd | Go-To Lawyer for Online Entrepreneurs December 7, 2020 Duration: 32:15

Finances and legal are like four-letter words for most entrepreneurs. You know you need to have a grasp on them to run a successful business, but the amount of things you don't know about finances and legal makes you want to bury your head in the sand.

In this episode, I brought on CFO consultant and founder of 100 Degrees Consulting, Stephanie Skryzowski, to share some of her best practices and advice for entrepreneurs when it comes to getting a handle on the financial side of business. 

In this episode, we'll cover:

  • Why you shouldn't run your business based solely on the money you have in your bank account (i.e., what cashflow is and why you need to pay attention to it!)
  • How widely profit margin can vary among different industries and service providers and how often you should review yours
  • Some helpful advice for hiring new team members
  • How a cobbled together contract ended up costing Stephanie five months of pay
  • Stephanie's best practices for coming up with your business's financial plan for 2021
  • The difference between a forecast and a budget (and why a budget can actually be freeing!)

BONUS: If you're starting something new, or this episode has spotlighted areas of your business that have you worried, now is a great time to make sure your business is in good shape legally. Download our free legal checklist to make sure your business has a strong legal foundation at https://www.awbfirm.com/podcast168!

Resources mentioned in this episode:

100 Degrees Consulting:  https://www.100degreesconsulting.com

Free financial worksheet: https://www.100degreesconsulting.com/profit

This podcast is information, not legal advice specific to your situation.


Navigating the legal landscape of an online business often feels like deciphering a foreign language. Legal Road Map®: copyright, trademark and business law info for online entrepreneurs translates that complex language into actionable advice you can use right away. Hosted by Autumn Witt Boyd, a practicing attorney who focuses specifically on creative and digital businesses, this podcast serves as a reliable guide through the common yet confusing legal questions entrepreneurs face daily. Each episode tackles practical topics, from the essential contracts you need to protect your work and client relationships to understanding the real purpose behind website policies like terms of service and privacy notices. You’ll hear clear explanations on how copyright and trademark law applies to your original content, branding, and products, helping you secure your intellectual property without unnecessary jargon. Think of it as a regular consultation with a trusted expert, designed to demystify the law so you can make informed decisions and focus on growing your venture with greater confidence and security. Tune in for straightforward conversations that replace legal anxiety with a practical plan, making this podcast an invaluable resource for any entrepreneur building a business in the digital space.
Author: Language: English Episodes: 100

Legal Road Map®: copyright, trademark and business law info for online entrepreneurs
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