Meet Ciara Stockeland, a seasoned entrepreneur and profit strategist, to discuss her journey from a third-generation entrepreneur to a successful business consultant. Ciara shares her highs and lows, from building a seven-figure business to losing everything and rebuilding with a new focus on financial health and strategic growth. Listen in to learn how to manage inventory, understand your financials, and build a business that not only survives but thrives
Key Topics Discussed:
- Entrepreneurial Journey and Challenges:
- Ciara’s background as a third-generation entrepreneur and her initial ventures.
- The rise and fall of her retail business, including franchising and the eventual loss of everything, including her home.
- The pivotal moment of reflection and rebuilding with a focus on doing business the right way.
- The Importance of Managing Inventory:
- How inventory management is crucial for cash flow in product-based businesses.
- Setting up clean financials from the start and the pitfalls of not doing so.
- Strategies to ensure margins create cash flow and a paycheck from day one.
- Understanding and Utilizing Financial Statements:
- Simplifying profit and loss statements and balance sheets to reduce fear and confusion.
- The importance of knowing your numbers and how they can guide better business decisions.
- Encouraging business owners to focus on one financial metric at a time to build confidence.
- Resilience and Redefining Success:
- Redefining what success looks like beyond revenue figures.
- The value of focusing on a holistic business approach, including personal time and satisfaction.
- How resilience and understanding one’s role in business challenges contribute to long-term success.
- Client Success Stories and Practical Advice:
- Examples of clients who overcame financial stress by managing inventory and understanding their financials.
- Practical advice on breaking down complex financial concepts into manageable pieces.
- Encouraging business owners to take ownership of their financial health and seek help when needed.
What Listeners Will Learn:
- The significance of proper inventory management and clean financials.
- How to read and understand financial statements to make informed business decisions.
- Strategies for overcoming financial stress and building a resilient business.
- The importance of redefining success and focusing on a balanced, profitable business model.
Connect with Ciara Stockeland
- Ciara Stockeland’s website: https://www.ciarastockeland.com/
- Inventory Genius Podcast: https://www.ciarastockeland.com/podcasts/the-inventory-genius-podcast
- Inventory Genius Book: https://www.ciarastockeland.com/book
Meet Your Host:
Jennifer Kok delivered her second daughter two days after opening her service-based bakery business. She went on to own and operate her business for 20 years, pivot during a recession, build a national franchise, and then sell it all for a profit in Fall 2018.
Today, she is a sought-after Business Consultant, who helps locally-owned businesses with annual revenues between $100K and $1M fast-track their growth in 90 days.
Download your free resource: 3 steps to become instantly referable
Learn more about Jen: nextwavebusinesscoaching.com
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