How to Stop Leaking Profits: Financial Strategies Every Business Owner Needs
Are your finances holding back your growth?
Many business owners unknowingly bleed money due to inefficient processes, scattered systems, and lack of clarity around financial data. In a recent episode of the Scale Smart, Grow Fast Podcast, host Harley Green sits down with Ali Swart—Partner and Managing Director at Waldron Private Wealth—to unpack the most common financial blind spots and practical strategies to help entrepreneurs scale without financial strain.
🎧 Prefer to listen on the go? Catch the full episode on Spotify and Apple Podcasts for expert insights.
Here are the top takeaways every business owner should know:
1. You Can’t Scale What You Can’t See
One of the biggest mistakes entrepreneurs make is not knowing where their money is going. Many operate without clear insight into expenses, profitability, or customer lifetime value. Swart explains that having clean, segmented data across your personal and business finances is essential to making informed growth decisions.
Pro Tip: Use tools like QuickBooks or industry-specific software—and ensure your financial team (accountant, attorney, advisor) is actually communicating.
2. Stop Mixing Business and Personal Finances
Too many owners blend personal and business transactions, creating confusion, inaccurate reporting, and missed tax-saving opportunities. Clear separation enables smarter forecasting and helps identify unnecessary spending or duplicate payments.
Solution: Delegate your bookkeeping to a trained professional or virtual assistant who understands how to track and categorize every expense.
3. Catch Profit Leaks Before They Hurt
Swart shared real stories where clients lost money from unchecked expenses, like pool leaks or excessive aircraft costs. Regular account reviews—even monthly—can prevent minor issues from becoming major financial drains.
Simple Fix: Schedule recurring financial reviews with your VA, CFO, or bookkeeper. Look for discrepancies, track expenses, and reconcile accounts proactively.
4. Know Your Numbers—or Risk Bad Decisions
Revenue and expenses are obvious metrics—but understanding profit margins, industry benchmarks, and per-client cost-to-serve can drastically improve decision-making. In Swart’s firm, they even track internal hours spent per client to improve efficiency and prevent burnout.
Smart Scaling Tip: Leverage data to right-size your team, justify hiring support, or eliminate low-ROI activities.
5. Use Bookkeeping as a Strategic Growth Tool
Bookkeeping shouldn’t be treated as an afterthought. When done well, it becomes your roadmap for smarter budgeting, forecasting, and scaling.
Turn It Into a Win: Partner with someone who doesn’t just report numbers—but analyzes them with you and flags problems before they cost you.
Final Thought: You Can’t Scale in the Dark
Whether you’re running lean or rapidly expanding, understanding your financials is non-negotiable. Delegating operational tasks to an expert—like an ultimate executive assistant—frees up your time to focus on strategic financial oversight and growth.
Want a financial system that supports your scaling goals?
Schedule a free discovery call with our team and see how a dedicated executive assistant can help streamline your finances, reclaim your time, and drive profitable growth.
