#135: Ken Wentworth: Double-Digit Net Margins All Day Long

<p><strong>Overview</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast talks to Ken “Mr. Biz” Wentworth, an on-demand fractional CFO and radio show host. Jason and Ken talk about business cash flow and how you can ensure the profitability of your business.</span></p> <p> </p> <p><strong>Episode Highlights</strong></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Ken talks about how he got started as an entrepreneur.  </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">What is a fractional CFO and why do you need one? </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Ken provides a macro view on a variety of fractional positions and how they benefit small business. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">He also shares why you need to track cash flow and how this relates to profits.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">There are ways you can tweak cash flow and make it better. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">82% of businesses fail because of cash flow. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">There are three pillars to financial success: cash flow, budgeting and pricing. </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">What’s the difference between accrual accounting and cash based accounting? </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">As a business owner, ensure maximum profitability through proper budgeting and pricing.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">It’s important to know and understand your business net margins - they should be double digits!  </span></li> <li style="font-weight: 400;"><span style= "fon