Episode 30: Keith Kohler • The Financing Man • Part Two

The Month End Podcast

The Month End provides emerging inventory-based brands real life knowledge in the accounting, finance, and operational world. Our guests are not only similar brand founders and owners, but key stakeholders and contributors to the industry. Each episode provides a glimpse into the vast experience and insight from its guest’s unique backgrounds in a casual, conversational tone.

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In episode thirty, Accountfully's CEO and Partner, Brad Ebenhoeh, continues his in-depth conversation with Keith Kohler, the Financing Man. Now that the various stages of businesses and their associated financing options have been identified, Keith lays out the action items to execute your plan. You will learn what you need to do in order to start your financing journey, and identify the requirements surrounding next steps. Dive in and see what you need to set yourself up for. financing success.

MORE INFO and VIDEO RECORDING: www.accountfully.com/podcasts/episode-thirty-keith-kohler-financing-man-part-two

TheFinancing Man Website: www.financingman.com

Schedule a call with Keith: https://www.financingman.com/contact

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Chapter

1. Episode 30: Keith Kohler • The Financing Man • Part Two (00:00:00)

2. If you haven't listened to episode 29, go back (00:00:39)

3. Keith Kohler's Intro (00:01:27)

4. The key takeaway from the episode (00:03:14)

5. Common client conversations Keith has (00:04:00)

6. Top reasons clients are more proactive (00:05:33)

7. How to prepare yourself (00:08:12)

8. How Keith and Brad can help you see beyond the numbers and be your strategic coach (00:09:12)

9. Step Two in prep: alignment (00:10:26)

10. Step three in prep: mindset (00:12:07)

11. Energy and availability and networking and relationships (00:13:46)

12. The key question you should be asking to seek additional resources and information (00:14:44)

13. Documents required to start the process (00:15:23)

14. Tax returns and interim financials: how they need to be prepared for financing success (00:16:33)

15. How to tell the story of your success through numbers so that it appeals to lenders (00:20:37)

16. Personal credit score considerations (00:23:19)

17. The role of forecasts, budgets, and models (00:26:35)

18. Why investing in a solid accounting team will allow your investment to pay off (00:30:00)

19. The common financial statement FAQs answered (00:30:38)

20. The commonality of a business showing profitability on a financial statement, but not on their taxes (00:33:45)

21. The intricacies of being audited as an inventory based business - what to understand (00:34:03)

22. Finished goods inventory specifics (00:36:13)

23. Inventory pre-paids specifics (00:37:08)

24. A case involving a huge upfront purchase and how it affected financing options (00:38:28)

25. How to properly account for COGS (00:39:18)

26. Summarizing the conversation and action items (00:42:01)