Spencer Sheinin Helps Entrepreneurs UnF*ck Their Books
*Warning some explicit language used in this episode
In This Episode
As an entrepreneur, you wear many hats, but some of those hats f*ck up your hair and would fit better on someone else’s head. That’s the just of what our guest today, Spencer Sheinin, wants to help you avoid. Through his training, UNF*CK Your Books! The Surprisingly Simple Path to Financial Clarity, Spencer wants to change the relationship entrepreneurs have with their books and encourage them to find the right person to wear that financial hat. Spencer shares the importance and advantages of using cloud technologies and data visualization for entrepreneurs to understand the financial status of their business in real-time better.
First 10 Minutes
Spencer Sheinin introduces himself, his book, and how he’s trying to help entrepreneurs straighten out their books. Spencer highlights how accountants have specialized training that entrepreneurs don’t typically have. Dave highlights the point that there’s a gap when you are a smaller business which Spencer agrees with and says that getting a year-end isn’t the same as having ongoing business analysis.
10 Minutes – 20 Minutes
Greg shares his experience and the difference of bookkeeping vs having financial advice. Spencer emphasizes the point that someone with years of financial expertise can identify issues you might not even be aware of. Spencer shares what he offers clients and highlights how he focuses on data visualization to ensure clients understand where they are without looking at a financial statement but graphs instead. The group talks about how it is a bit of a paradigm shift for small businesses to use cloud technologies and that they can efficiently outsource this work.
20 Minutes – 30 Minutes
Spencer talks about the way that they offer training and the methods that he engages with clients. For the first ten people that email Spencer and with “The Boiling Point” in the subject line, he will send you a graphical analysis of your QuickBooks setup.
Spencer Sheinin is a CPA, CA, with 15+ years as an entrepreneur and an investment banker. He has previously owned businesses in manufacturing, construction, cold storage and real estate (with over 300 employees combined). Spencer is an instructor for Chartered Professional Accountants of B.C. and guest speaker at the University of British Columbia. He is a Business in Vancouver Top 40 Under 40 Award Winner and current Finance Director for Canada and Past Chapter President for the Entrepreneurs Organization.
Spencer is passionate about endurance sport, completing several marathons, ultramarathons, Ironman, distance cycling, and marathon swims. He also proudly holds an Uber Passenger score rating of 4.82.
Spencer’s training is called “UNF*CK Your Books! The Surprisingly simple path to financial clarity”
You probably don’t love the numbers aspect of your business. You started it without a financial background and kinda (read: totally) ignored it early on. What’s worse, you may not even know exactly what you need, you just know you’re not getting it. There’s a black cloud above your head but you don’t know where to start. This session is for those business owners trapped in the vicious cycle of financial literacy cloudiness. Don’t worry, this is NOT an accounting lesson! Learn to direct your accounting team to deliver exactly what you need, when you need it. Walk away with simple tools knowing how to evolve from financial frustration (and a screaming headache that comes with it) to totally dialed information you can understand and use to drive your next round of growth. Feel free to bring your bookkeeper or accountant.