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249 - The $600,000 Accounting Error That Almost Destroyed My Business with Cory Parks
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Imagine finding a $600K error in your books! Cory Parks shares his journey from near disaster to business revival. You don’t want to miss this!
Time Stamps
- 00:45 - Episode & Guest Intro
- 03:25 - Cory's Business Journey
- 07:28 - Financial Struggles and Solutions
- 11:41 - Management Team and Roles
- 16:44 - Cory's Profit Problem
- 22:14 - Cory's Financial Literacy Journey
- 30:31 - CRM and Bookkeeping Challenges
- 31:56 - Automating QuickBooks Integration
- 32:22 - Identifying and Solving Duplicate Entry Issues
- 33:31 - Leadership and Financial Challenges
- 34:58 - Implementing Salary Cuts & Transparency
- 36:52 - Rebuilding Financial Stability
- 37:49 - The Importance of Trust and Transparency
- 39:02 - Navigating Financial Statements
- 42:42 - Learning from Mistakes and Seeking Guidance
- 53:18 - Transitioning from Cash to Accrual Accounting
Snippets from the Episode
- “I have made every single mistake that Martin talks about in his book. Every single one of 'em!” -Cory Parks
- “We were doing well, but we kept coming back to our books.” -Cory Parks
- My income statement is telling me that we are absolutely killing it. We're making $600,000 profit, but where is the money? - Corr Parks
Resources
- 24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
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- Need Help with podcast production? We recommend Demandcast
More from Cory Parks
- HydroHelp911 website
- Cory Parks on LinkedIn
- Email Cory
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