Welcome to the Triple P Life Podcast!

Struggling with cash flow or unsure when to scale your business? Join Dr. Jay LaGuardia as he interviews Heather Parsons, founder and CEO of Summit CFO, in this eye-opening conversation about entrepreneurial success.

This episode delivers crucial insights for small business owners making under $1M in revenue.

What You'll Learn:

• Master cash flow management - learn why this is the #1 killer of small businesses

• Build the right team at the right time - discover when to delegate and who to hire first

• Create an effective exit strategy - start planning 5-10 years before you want to sell

• Balance reinvestment vs. profit-taking - understand the 60/40 rule for sustainable growth

• Leverage AI and new technologies - prepare your business for the future

Whether you're just starting out or looking to scale, Heather shares practical wisdom from her journey from military service to corporate success to entrepreneurship. She even reveals details about her free cash flow forecasting tool to help you make better financial decisions.

Ready to transform your business strategy? Watch now and discover how to achieve both financial success and life balance as an entrepreneur!

Chapters:

00:00 - Introduction to Heather Parsons 02:34 - Host's Welcome and Show Overview 05:45 - Heather's Military and Business Background 08:18 - Common Entrepreneur Challenges 10:06 - When to Invest in Building a Team 13:25 - Timing Profit Expectations for New Businesses 15:40 - Cash Flow Management for Small Businesses 17:52 - Creating an Advisory Board 21:15 - Scaling and Reinvesting in Your Business 24:30 - Building Generational Wealth 27:22 - Risk Management for Entrepreneurs 30:15 - The Value of Having a Business Coach 32:43 - Investment Readiness Checklist 35:08 - Planning Your Business Exit Strategy 38:16 - Job vs. Business: Key Differences 40:23 - Essential Traits of Successful Entrepreneurs 43:10 - Real Estate Investment Strategies 46:35 - Cash Flow Forecasting Tool 49:05 - Tax Planning for Business Owners 51:18 - How AI Will Revolutionize Business