A Simple Bank Account System for Business Sustainability
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A Simple Bank Account System for Business Sustainability
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This is an oldie but goodie from the archives. This conversation was recorded in 2024, but its principles and teachings are timeless. Susanne Mariga is an expert in finance and she's been doing taxes for clients since she was a 14-year old in her dad's accounting office.
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If your business is busy but your bank balance never reflects it, something is broken and it’s not your work ethic. Suzanne Mariga, CPA, fractional CFO, and CEO of the award-winning Mariga Group joins me in a conversation about the money mistake she sees again and again: founders pushing for years, sometimes decades, and still having nothing to show for it.
Suzanne explains the Profit First method in plain language, including the five-bank-account setup that creates instant clarity around cash flow management: income, profit, owner’s pay, tax, and operating expenses. She explains why focusing on building net worth is a better strategy than “saving tax” through spending. She says, pay yourself properly so that your business stops quietly relying on your unpaid labour.
Other topics we discuss include:
- Preparing for a leap from corporate life
- The art of remaining flexible and open to change
- How fractional C-suite fiance support helps build stronger accounting systems
- A quick chat about AI Tools for Small Business.
If you want healthier margins, better cash flow, and a business you could one day sell, press play.
Subscribe, share this with a friend who needs a reset, and leave a review with your biggest takeaway.
LOST IN TRANSLATION
Roth IRA - The American retirement fund - similar to the RA contribution for South Africans and private pension funds of the EU region.
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