Show Notes
Marketing is one of the largest expenses in many businesses, but there is no universal percentage that every owner should spend.
Jeremy Yang speaks with Stephanie Smith, financial strategist and co-owner of New Light Financial Solutions, about how marketing fits within the 16 drivers of revenue, profit and cash flow. They discuss why marketing spend needs to be considered alongside the business’s goals, available cash, sales process and expected return.
Stephanie also explains the difference between bookkeeping and CFO advisory, when a business may need more financial support, and why small changes to one financial driver can affect the entire business.
They also discuss: When it may be time to outsource your bookkeeping Why some businesses spend less than 1% of revenue on marketing How cash flow problems affect marketing decisions Where AI still falls short in bookkeeping and financial advice Financial forecasting before committing money to ads The different levels of bookkeeping and advisory support
This episode is for SME owners who want to understand their numbers, make better decisions about marketing spend and connect their financial goals with the way they run the business.
Learn more about Stephanie Smith Website ➡️ https://www.newlightfs.com/ CFO Worksheet ➡️ https://go.newlightfs.com/cfo-worksheet/ LinkedIn ➡️ / stephanieporcellosmith
Learn more about Jeremy Yang on LinkedIn ➡️ https://www.linkedin.com/in/jeremy-yang/ Listen on your preferred podcast app ➡️ https://pod.link/aHR0cHM6Ly9hcGkucml2ZXJzaWRlLmNvbS9ob3N0aW5nL2RmaGQ4QlltLnJzcw
Connect with Digital Goliath Instagram ➡️ https://www.instagram.com/digital_goliath_marketing/ Website ➡️ https://digitalgoliath.com.au/
Learn more about Digital Goliath About Us ➡️ https://digitalgoliath.com.au/about-page/ Our Services ➡️ https://digitalgoliath.com.au/marketing-ads-services/
Looking for more practical ideas to help you run and grow your business? Explore Digital Goliath’s latest articles and how-to guides for SME owners. Expert Perspectives ➡️ https://digitalgoliath.com.au/expert-perspectives/ How-To Guides ➡️ https://digitalgoliath.com.au/how-to-guides/
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What would a potential client find if they looked you up today, and would it reflect the experience you actually have?
Dima Beseda has been building businesses inside digital economies since he was a teenager.