Starting vs Buying a Business for Entrepreneurs Who Want Growth with Lessons - Colin Sanburg скачать в хорошем качестве

Starting vs Buying a Business for Entrepreneurs Who Want Growth with Lessons - Colin Sanburg

The 30-Question Ownership Readiness Diagnostic. Identify your gaps in finance, leadership, and revenue creation before you take the leap. Get your score, get your plan. (It’s FREE!) 👉 https://bit.ly/ownership-mindset-scor... ------------------------------------------------ Want to be a guest on our podcast? Apply and share your expertise with our audience at https://www.podmatch.com/member/artof... ------------------------------------------------ Welcome to Part 02 of The Art of Succession Podcast. Host Barrett Young continues his conversation with Colin Sanburg, Founder and CEO of FinElevate and Managing Partner at Abacus Unlimited. Colin shares how he built his fractional CFO firm after years of running and acquiring businesses. He talks about the challenges of launching a startup compared to buying a company and the value of building momentum. Colin explains how he supports business owners with financial planning, team alignment, and strategic growth. He also discusses selling one of his companies and why he believes in focusing deeply on one business at a time. Colin shares how his path from owning multiple businesses led to starting FinElevate, a fractional CFO firm focused on helping entrepreneurs grow with clarity. He and Barrett discuss how many business owners rely too much on gut instincts or their bank account and lack forward-looking financial tools. Colin explains how his team builds simple dashboards and forecasts that help leaders make better decisions and involve their teams. He also talks about the difference between buying a business and starting one from scratch, sharing lessons from both. Colin highlights why selling a business should be intentional and why passive income in a small business is often a myth. Key Takeaways: 1. Colin launched FinElevate to help owners make smarter financial decisions. 2. He supports businesses with tools like forecasts, dashboards, and key metrics. 3. His focus is on team alignment and planning for future growth. 4. Colin shares insights from both buying and starting companies. 5. He stresses that passive income in a small business is often unrealistic. Here are a few quotes from the episode: “There is no such thing as a passive business.” - Colin Sanburg “You are either building the culture or someone else is.” - Barrett Young “If you are not working on your business, someone else is, and they may not have your best interest at heart.” - Colin Sanburg Join Colin Sanburg as he shares how FinElevate helps business owners plan ahead, align teams, and make smarter financial decisions. He also explains the lessons learned from starting and selling companies. Episode Highlights [00:00] - Introducing Part 2 with Colin Sanburg [04:23] - Free advice to paid service shift [05:51] - Defining fractional CFO vs. bookkeeper/CPA [09:39] - Starting vs. buying a business [14:40] - Why sell a business? [16:11] - The myth of passive business income [22:25] - Lightning round (quick-fire questions) [29:42] - Future plans & human-focused tech [31:45] - Outro & where to find Colin FOLLOW THE GUEST: LinkedIn:   / colinsanburg   Company LinkedIn (FinElevate):   / finelevate   Company LinkedIn (Abacus Unlimited):   / abacus-unlimited   FOLLOW THE HOST: LinkedIn:   / barrettyoung   Company LinkedIn:   / gwcpa   Website: https://gwcpas.com/ Email: bey@gwcpas.com FOLLOW THE PODCAST: Apple Podcast: https://podcasts.apple.com/us/podcast... YouTube:    / @gwcpas   Spotify: https://open.spotify.com/show/7uhogBx... LinkedIn:   / art-of-succession-podcast   Website: https://gwcpas.com/podcast