Let’s set the record straight: Revenue is not the goal. Profit is. If you’ve ever felt like you’re doing everything—chasing more sales, more clients, more offers—but still coming up short on cash and clarity, this episode is your permission slip to pause, stop worrying about sales numbers alone and start focusing on what generates profit.
In today’s episode, Danielle Hayden, reformed corporate CFO and founder of Kickstart Accounting, Inc., dives into the 12 money truths that successful CEOs live by to grow smarter, more sustainable businesses not just bigger ones.
Key Takeaways:
- Revenue ≠ Success: Profit is the real goal, not revenue. Chasing sales without watching expenses can leave your business cash-strapped and stressed. Focus on the bottom line. (01:16 – 02:42)
- Align Your Personal & Business Finances: Your personal finances impact your business. Owner’s draws and misaligned personal spending can drain your business's resources and future growth. (02:47 – 04:24)
- Money Goes Where Focus Flows: You don’t need 3-4 revenue streams. The most successful CEOs stick to one core offering and master it before expanding. (04:24 – 05:51)
- Filter Your Advice Wisely: We love our friends and family, but unless someone has real experience running a business, their advice may do more harm than good. (05:51 – 06:47)
- Listen to Your Numbers: Your financials are trying to tell you something. Learn to read and review them regularly to help you avoid repeat mistakes and make smarter, future-focused decisions. (06:48 – 07:43)
- More Money Isn't Always the Fix: More capital won’t fix a broken strategy. Think 2-3 times longer than you normally would before taking on debt or outside investors. (07:44 – 09:05)
- Spending is Investing: When aligned with your goals, every dollar spent should help your business grow or strengthen. (09:05 – 09:52)
- Permission to Say No: Saying yes to everything leads to burnout—successful CEOs protect their time and energy. (09:56 – 10:55)
- Emergency Funds are a Must: A “just in case” or rainy day fund can be the difference between panic and peace when the unexpected happens. You never know when a new opportunity will pop up! (10:56 – 11:52)
- Invest in Your Education: You don’t have to do it all, but you do need to understand your business’s financial health. (11:53 – 13:01)
- FOMO is a Distraction: This goes back to “money goes where focus flows”—stay grounded in your vision, not someone else’s highlight reel. (13:01 – 14:10)
- Money is a Game—Play It Smart: Use your financial statements as tools to track your growth, not just your income. (14:12 – 14:50)
⭐Bonus Rule: When things get uncomfortable, lean in further. Successful CEOs step outside their comfort zones, because they know that’s where the real growth happens.
Resources:
Kickstart Accounting’s CFO Services | kickstartaccountinginc.com/cfo
Kickstart Accounting’s Tax Services | https://ksataxpartners.com/
Book a Call with Kickstart Accounting, Inc.:
https://kickstartaccountinginc.com/book
Connect with Kickstart Accounting, Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting
YouTube | https://www.youtube.com/@businessbythebooks
Facebook | https://www.facebook.com/kickstartaccountinginc
Episode Transcript
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Danielle Hayden
Let me say this loud and clear: Revenue is not your goal. Profit is. I see it every day-business owners chasing more sales, more clients,
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more, more and more, but ending up with less.
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Less cash, less time and less clarity.
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If you've ever found yourself making big decisions
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based on what
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a well-meaning family member or social media influencer or your own
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FOMO said, then this episode is your permission slip to slow down and refocus.
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Because money goes where your focus flows.
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And it's time to focus on what actually builds wealth alignment, clarity, and smart strategy.
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Danielle Hayden
Welcome back to
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Danielle Hayden
Business by the Books,
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where we help
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Danielle Hayden
entrepreneurs build healthy, profitable and sustainable businesses. I'm your host, Danielle Hayden, reformed corporate CFO and
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Danielle Hayden
founder of Kickstart Accounting, Inc.. Today, I'm pulling back the curtain on the secrets CFOs use to help
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businesses grow without sacrificing their profits, their peace, and their priorities. We're going to
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talk about the 12 rules of money
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successful
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CEOs use
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to grow their business. All right, number one,
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your focus needs to be on
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profit, not revenue.
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There is so much focus and buzz on growing our
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top line sales and our top line revenue, but our true focus, successful CEOs, they focus on profit.
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That's the bottom of the income statement. The very last number. Sales minus cost of goods sold minus expenses.
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It is our net profit
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that is going to be able to be reinvested in the business to grow your
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business. We have to have profit
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in
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order to have cash to
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create a healthy,
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sustainable business. I'll never forget when I had a client a few years ago,
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And if you looked at
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just her sales, right? If
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the only thing that she was going to look
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at was her point of sale
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system, her sales were doubling and quadrupling. I mean, she was month over month growing fast. However, what she didn't take into account was the number of
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contractor
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hours it was going to take her to actually complete
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the projects, and so
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throughout the year, we were seeing her debt increase, her cash decrease because of the expenses that were coming back out of
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her business. Thank God she was looking at her numbers every single month.
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And by August, she was able to wrap up those projects because she was focusing on the number one most important number, her profit. All right, number two, our personal finances need to be in alignment with
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our business finances.
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Now I'm not saying we need to have one
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hundred percent alignment
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in all areas, but if our family
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has a higher set of
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financial needs than what
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our business can
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support, we need to know and
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understand that.
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If our spending habits in our
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personal lives
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are out of control, they're going to leak into
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our business lives. We had a client who a few years ago was
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really struggling
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with cash flow
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and every time we
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went to go look at the business and look at all the operating expenses to see if there was
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anything that we could cut, there was absolutely nothing left to cut. The business was operating lean and mean. I mean, there was no extra spending at
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all whatsoever except for owner’s drawers.
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The owner's drawers
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and personal expenses were taking the cash out of the business. There was not enough cash in the business to sustain the business
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let alone actually grow the business.
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And later, what we found out was that there was some personal spending that was out of their control
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and that needed to be realigned for what the business could afford.
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today.
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The family's financial habits were aligned for a different business.
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They were no longer able to support that type of spending.
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And so we needed to readdress
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the personal spending habits
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so that they were in
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alignment with business.
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All right, number three, money goes where focus flows.
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This is an unpopular opinion,
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but I'm going to tell you that you need to pick one specific focus and stay aligned. What I see happening all too
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often with my clients is that
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they're visionaries and they get bored, really bored, and they want to try the next new strategy, the
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next new
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revenue stream, and they are constantly pivoting. And not in a way that creates growth. It's in a way that actually creates market confusion. Until you've had at least
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$1 million in sales
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I really want you to stay focused on one thing, and I want you to do it really well over and over and over again for a long
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period of time.
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You don't need to have 3 to 4 revenue streams
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to be successful.
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You know, for the
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first
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almost eight years
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of this business
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we had one focus and it was bookkeeping. We knew that we needed to stay 100% laser
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focused
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on bookkeeping for
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our clients.
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It wasn't until later that we offered
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tax services and CFO services,
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because we needed to stay in alignment so that we can grow one thing and do it really, really well. All right, number four, hard truth: I want you to stop listening to the ignorant people around you. Now, I mean, that nicer than it comes out. But our family, the influencers online, the people who are
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not qualified
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to give you business or financial
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advice,
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stop listening to
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them.
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Your mother, unless she is a business coach, probably doesn't know how to be an entrepreneur or how to run a business. Your husband, your wife, unless they're in the business with you or has ran a business in the past, they don't know how to run your business. You are the CEO of your business. You need to be able to shut out the people who are not experts in your field, who can give you the guidance that you need in your business and about your money.
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All right,
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number five,
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I want you to pay
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attention
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to each
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lesson
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that your financials have taught you. Your numbers are trying to tell you a story. Now, even if you have a full money team-I'm talking bookkeeper, tax accountant, financial advisor, CFO-nobody, nobody, nobody-I repeat, nobody-can do what you can do as a CEO. You have to look at the
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numbers and ask yourself what's
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working and what's not working, so that you can pay attention to the
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lessons
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that your money is trying to tell you. We study history for a reason.
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Right? My son is always asking me why we're studying history.
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We're doing it so that we don't repeat
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the same mistakes.
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So pay attention to the lessons that you've learned and save your money, right? Save your money and don't repeat
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the same lessons. Now, number
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six, money
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Is not always the solution.
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I really want you to think, I don't know, 2 or 3
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times
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longer than you think you should before taking on any
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debt or investor dollars. As business owners,
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we can blame our lack of capital on the reason why we're not growing, and before you,
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as a business owner,
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take on debt,
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drain your 401k, take out a home
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equity loan, take on a revolving line of credit, I want you to look at your current business,
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your current operating expenses, your current personal expenses, your personal habits, your business habits
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before taking on any debt
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or investor investment.
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This is something that we work with
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our CFO clients on a very regular basis
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is looking at
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our financial growth strategies to ensure
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that we
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have budgets created that are going to allow us to
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grow and hit our goals
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based on the profits in the business,
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and even possibly
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take those profits and pay down current debt.
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So I want you to going in that
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direction,
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where we're
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using profits to pay down current debt and not taking on debt or investors in order to grow the company. Number seven is always invest.
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Spending money is a way of
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investing our dollars.
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Now this might be investing in new strategies that are going to bring revenue or growth into your business.
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This might be investing in other places like the stock market or a high yield savings account. Spending money is investing.
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Whether it be in your
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business's
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future or your future. This is a
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mindset shift
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where when we are spending money, I don't want you holding on to it, I want you to free spending money and always look at it as a way of
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investing back into your business.
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Successful CEOs see
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spending as investing. All right, what else do our successful CEOs do?
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They have permission to not do everything.
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You guys stop saying yes to everything. I heard somebody say recently yes, that is an amazing opportunity. It's just not MY amazing opportunity.
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We have
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to say yes to the things that are in alignment
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to our goals, and that might be personal
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and business goals.
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I used to make decisions like so many
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of our clients-
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based on ego. I wanted to be the one
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at the conference.
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I wanted to be the one to go. I wanted to say yes to every speaking engagement. I wanted to be there
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for other people, other business owners. But as I continue to grow my team and this business, I know that I need to stop saying yes to everything. And some of our most successful clients and CEOs
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they know that they
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cannot say yes,
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and they give themselves guilt free
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permission to say no. All right, successful CEOs, they have
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a rainy day or “just in
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case” fund.
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You guys have heard me. I want you to have three bank
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accounts in your business:
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Your operating account, where money comes
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in, money goes out. The next account is your tax
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savings account, where 25% of your net income is regularly being
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Invested into that account,
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so you are
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prepared for taxes.
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No more surprises, you guys. Every single year in April
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we have to pay our taxes. No more surprises. But this third account is our rainy day fund, and in that
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account, I want you to have between 1 and 3 months worth of operating expenses. We don't know what's going to happen. Yes, there's big issues like COVID or small, like a disability or an accident. I want you to have a fund that you can dip into when your
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business needs access to those dollars
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for an emergency or for an impromptu
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investment.
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All right, number ten is get educated. Our most
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successful clients
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and CEOs continuously
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invest in getting education.
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You do not need to be the expert in everything in your business. Should you be running all the paid ads? Probably not. Should you be the one in Canva every day? Absolutely not. Should you be in QuickBooks doing the bookkeeping?
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Absolutely, positively not.
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However, I do need you to know how to
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read the financial
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statements. I need you to know how to read the analytics. Successful CEOs continuously
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invest in their
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own education to level up. I want to prepare for the CEO that I'm going to be in
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Danielle Hayden
three years, five years, ten years, not the CEO I am today. And that means I will continue to invest in my education. Now here's the kicker you guys,
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Danielle Hayden
we can't always
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just invest in learning.
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Danielle Hayden
We also have to put our learning into practice.
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Danielle Hayden
The successful
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Danielle Hayden
CEOs
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Danielle Hayden
spend time
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Danielle Hayden
getting educated and then putting that education to work. Number 11
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Danielle Hayden
is FOMO.
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Danielle Hayden
Guys, we all feel
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Danielle Hayden
this way from time to time, especially in business.
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Danielle Hayden
Social media influencers, industry trends... There is
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Danielle Hayden
so much exciting stuff that is happening in entrepreneurship,
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Danielle Hayden
and as visionaries, it's really easy to get distracted. It is a distraction when you take your eyes off of your focus. When you're feeling FOMO, like you are missing out on an industry trend or a new
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Danielle Hayden
software
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Danielle Hayden
or something that's going on
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Danielle Hayden
in entrepreneurship, just slow down and pause when you're feeling this way and ask yourself why?
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Danielle Hayden
If you invested your time, your money, or your energy in this new trend, how is that going to feel three, six, nine, 12 months down the road? Are you going to be disappointed and
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Danielle Hayden
upset that you took your focus
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Danielle Hayden
away? Are you going to be comfortable with
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Danielle Hayden
the investment of time,
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Danielle Hayden
money, and energy that you just made when you feel
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Danielle Hayden
a sense of FOMO?
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Danielle Hayden
Slow down
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Danielle Hayden
and pause. All right, number 12,
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Danielle Hayden
money is a game,
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Danielle Hayden
entrepreneurship is a game.
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Danielle Hayden
Our financial
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Danielle Hayden
statements are
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Danielle Hayden
a tool in our
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Danielle Hayden
toolbox. Successful CEOs
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Danielle Hayden
measure frequently because money goes where
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Danielle Hayden
energy flows.
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Danielle Hayden
Use your financial statements, the Kickstart Accounting Snapshot and the information that you have available to compare your results-not against other people, not against other businesses, but against your
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Danielle Hayden
progress
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Danielle Hayden
and your goals. Use the tools in your toolbox to play the game. Alright, you guys,
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Danielle Hayden
successful
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Danielle Hayden
CEOs lean in when things are uncomfortable. So if anything here made you feel uncomfortable today, I want to encourage you to lean in further. Get uncomfortable. I know if you're listening to
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Danielle Hayden
this podcast, you are setting yourself up for success.
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Danielle Hayden
If you need additional support, we are always here to help you through bookkeeping, our CFO support team
00;15;19;21 - 00;15;21;07
Danielle Hayden
and tax services.
00;15;21;10 - 00;15;27;06
Danielle Hayden
Go to KickstartAccountingInc.com to learn more. I hope you enjoyed
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Danielle Hayden
today's episode of Business by the Books.
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Danielle Hayden
Don't forget to hit like and subscribe! This is the number one way we can help other entrepreneurs
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Danielle Hayden
find this podcast, cause
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Danielle Hayden
here at Kickstart Accounting, Inc., it is our mission to help entrepreneurs understand their numbers, get
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Danielle Hayden
access to this information,
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Danielle Hayden
and grow and thrive in their business. So please help me, help other entrepreneurs understand their numbers so they can finally
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Danielle Hayden
grow and thrive.