From Chaos to Calm: Kendra Nicole's Financial Wisdom for Entrepreneurs

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Are you an entrepreneur who's ever felt the burden of financial chaos on your shoulders? In this captivating episode of Seek Go Create, we sit down with financial guru Kendra Nicole, CEO of Finance Femme, who unpacks the essentials of balancing "peace and profits" in the business world. From the pitfalls of poor financial data to the transformative power of professional financial management, we dive deep into the strategies that empower women entrepreneurs to thrive without compromising personal wellness. Get ready for an insightful conversation that challenges traditional notions of success and uncovers the keys to sustainable business growth. Tune in to learn how to turn financial confusion into clarity and confidence!

"Peace and profits are not mutually exclusive; they are the dual pillars of sustainable entrepreneurship" - Kimberly Nicole

Access all show and episode resources HERE

About Our Guest:

Kendra Nicole is the CEO of Finance Femme, a virtual CFO and accounting firm dedicated to empowering women entrepreneurs to build sustainable and thriving businesses. With a profound understanding of the impact of financial data, Kendra is committed to enhancing informed decision-making for her clients. Her calmness amidst chaos is her superpower, helping her navigate the complex challenges faced by female entrepreneurs in the corporate landscape. Kendra’s focus on fostering a balanced approach to profitability and personal welfare makes her not only a financial strategist but also a valued partner to the women she serves, helping them to achieve peace alongside their business profits. With her background in corporate finance, Kendra carries significant experience in understanding the dynamics between financial officers and CEOs, translating it into a business model that supports strong financial management for growing enterprises.

Reasons to Listen:

1. Discover How Quality Financial Data Transforms Business: Uncover why Kendra Nicole believes accurate financial reporting is vital for informed decision-making and how it can empower sustainable entrepreneurship without sacrificing personal well-being.

2. Insights into Female Entrepreneurship: Explore the unique challenges women business owners face, as Kendra Nicole shares her journey to supporting female leaders and the importance of fostering support and candid conversations in the workplace.

3. Mastering Financial Strategy with Expertise: Gain clarity on the specific roles of financial professionals in your business, learn when to hire them, and understand the intricate balance of "peace and profits" with advice from a seasoned virtual CFO.

Episode Resources & Action Steps:

### Resources Mentioned:

1. **Website**: Finance Femme (www.financefem.com) - The website where listeners can learn more about the services Kendra Nicole offers, such as executive accounting solutions, fractional CFO services, and tax handling.

2. **Email**: [e-mail] - Listeners can directly contact Kendra Nicole or her team for consultations or inquiries about their financial planning and business strategy needs.

### Action Steps:

1. **Evaluate Financial Data**: Listeners should review their business’s financial data to assess accuracy and quality. Understanding the significance of reliable data can guide better decision making for the future of the business.

2. **Consider Professional Financial Help**: Business owners, especially those at particular revenue milestones, should consider hiring a bookkeeper, accountant, or even a fractional CFO, to manage their financial matters, which can ultimately lead to both peace and profitability.

3. **Self-Reflect on Business Goals**: Encouraging listeners to reflect on their 'why' behind their entrepreneurial endeavors. This could lead to improved alignment with their values and attracting clients or customers who respect those same principles.

Resources for Leaders from Tim Winders & SGC:

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Key Lessons:

1. **Balance Peace with Profit**: It's vital to manage your business in a way that ensures profitability while also maintaining your personal peace and well-being. Kendra Nicole emphasizes the importance of not only focusing on the financial aspect but also integrating a balanced lifestyle, especially for women who juggle entrepreneurship with roles like motherhood.

2. **Seek Professional Financial Help When Necessary**: Business owners, particularly women, often feel they need to handle every element of their business, but Kendra advises that hiring professionals like bookkeepers, accountants, or CFOs can offer numerous benefits. Delegating financial tasks to experts can provide clearer insights, allow for better decision-making, and ultimately lead to growth and stability for the enterprise.

3. **The Importance of Understanding Financial Data**: Accurate and quality financial data is indispensable for making informed business decisions. Kendra Nicole illustrates the negative consequences of bad financial data and stresses the significance of using precise data to drive your business strategy.

4. **Know When to Hire Financial Experts**: Kendra outlines when it's appropriate for a business to consider hiring financial professionals. She suggests businesses making around $100,000 in sales should look into hiring a bookkeeper, while companies with revenue of $250,000-500,000 or those undergoing significant changes should contemplate a fractional CFO.

5. **Align with Values and Goals in Client Relationships**: Tim Winders and Kendra Nicole discuss the need for alignment between a business's values and those of its clients. Kendra shares how understanding her clients' "why" behind their ambitions has improved working relationships and allowed her to attract clients that resonate with her firm's focus on "peace and profits."

Episode Highlights:

00:00 Mom, wife, business owner, virtual CFO advocate.

06:03 Challenges for female entrepreneurs discussed by older man.

07:02 Woman entrepreneur focused due to corporate experiences.

12:38 Regret about moving jobs, affected by family's opinion.

14:37 Corporate learning: Relationships key to career success.

18:04 The complexity of portraying business success accurately.

20:47 Money brings happiness when shared with others.

23:23 Discussing mindset and money management in business.

28:21 Overused optimism can be a weakness.

30:20 Consider end goal before taking financial risk.

33:59 Bookkeeper, accountant provide historical data; CFO is forward-looking.

39:46 Agreeing with outsourcing tasks vs. doing them.

42:09 Balancing alarm with the reality of data.

46:03 Transitioning mindset to profit with purposeful peace.

50:28 Rejecting clients seeking quick profit-driven success.

54:13 Focus on key numbers that matter to business.

54:56 Track, analyze, and be confident with numbers.

59:00 Seek understanding your why in business endeavors.

Thank you for listening to Seek Go Create!

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