Money matters, but let’s face it—bookkeeping and budgeting aren’t exactly the thrilling parts of running a business. Yet, they’re crucial to long-term success.
Enter Meaghan Likes, a CPA on a mission to remove the fear from finances. In this episode of the Built By Me Podcast, Meaghan joins hosts Taina and Mo to share her journey, insights, and practical tips to help business owners master their money.
Meaghan’s story begins close to home, with her husband Jeff’s idea to start a window-cleaning business. At first, Meaghan was skeptical of entrepreneurship, having seen her parents struggle with failed ventures. While Jeff was a natural at the trade, Meaghan noticed the gaps in bookkeeping and leadership—key areas that could make or break a business. Over time, however, she saw Jeff’s business thrive. Inspired by his growth and the potential to help others, Meaghan left her CPA job to empower small business owners to take control of their finances.
In her quest to make accounting accessible, Meaghan cuts through the jargon and focuses on what matters most: how much money you have, how much you’ve spent, and where it’s going. Her innovative approach allows businesses to understand how to manage their own books in under an hour.
The podcast also tackles a challenge many entrepreneurs face but rarely talk about—reluctance to ask for help. “Nobody wants to talk about being behind on taxes, literally no one,” she says. Many business owners prefer to showcase their successes rather than their financial struggles. But this avoidance, while understandable, often holds businesses back.
Meaghan shares practical advice, like separating business accounting from personal finances. “Put your family on a budget, and your business should pay the family budget,” she recommends. She adds a fun twist to budgeting, likening it to Monopoly money. According to her, “Budgets give you permission and direction to spend money. Doing business without budgeting is like playing in the dark and hoping you hit a million-dollar revenue mark!”
She also emphasizes accountability. Her clients must commit to two non-negotiables: maintaining double-digit profits and operating with a budget. These principles are the foundation for financial clarity and sustainable growth.
This episode is both entertaining and educational. Meaghan’s lively storytelling and approachable insights make financial literacy feel less like a chore and more like a valuable skill to master. This podcast is a must-listen for business owners who dread bookkeeping, taxes, and budgeting but know they’re essential.
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