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Businessman Podcast Ep #3 פרק ג | Where mindset meets money
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In this episode of Businessman, Moshe Yitzchuk Stein sits down with Chaim Weisberg, CPA from Mountain Deer Certified Public Accountants, for a real and eye-opening discussion about the connection between your mindset and your money. They unpack how your beliefs, habits, and relationship with money can either hold you back—or open the door to long-term wealth. It's not just about working harder; it's about working smarter, thinking bigger, and knowing how to let your money work for you.
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to do. Apart from business, our game
impact
[music]
apart from business.
The natural parts
longterm
connect
especially in accounting.
>> Yeah.
serious relationship. So meaning
the fifth company
and the vice president from the company.
[snorts]
Okay. So I did and and it worked very
well because
[clears throat]
the the sales team
from 2000 the bubble
dress code.
Listen, all these guys that you want me
to coach are wearing neck ties and
they're struggling. Are you sure you are
you sure you want me to wear one at? You
know what? Forget it.
Okay.
Sales
accounting
mention mention
mention the opposite entrepreneurs.
Yeah. entrepreneurs with accountants and
most a lot of times opposite
professor in school
in
game class
of psychology.
So
business is psychology. Business is is
dealt negotiations. That's what it is.
So naturally
given accounting it's just my nature
law. So,
by the way,
the rules
for accounting
firm accounting firm
accounting firm
schools
businesses
under the industries
requirement
CPA license.
3D globus.
Very nice man
for different reasons.
Fore
killing
mention
skill construction in healthare
anything.
for
was the industry. But
under skill set,
in a company. But
dimension
days
outside
Enjoy
the process even
with systems.
The value
CFO
may multiple companies
challenges
business. This is pushly variety versus
over and over and over.
>> Purpose
employees
[snorts]
purpose.
Okay. Interesting.
from beginning till end and he
accomplished something at the ending
was derived
mention
business
implement
Correct.
Million business
investments bank. So
experience
account
anything else
business is fe business. Okay.
Average business at least few main
categories.
Heat the business hot sales, marketing,
operations and finance. Two businesses
with some research and development fifth
main category but few main categories
other sales
other operations.
mention was going to run a business
strength in finance because finance
mention was leap finance and usually
niched entrepreneurial driven mention
was entrepreneurial
passionate about things
so it's usually sales other operations
so
ignored finance because finance fields
sales and operations on Zang.
pushed finance
personal finance
was the business finance
is money management. The number one
reason for small businesses fail in the
first five years is lack of cash flow.
lack of cash flow, lack of planning. So
mention
system planning. So mention as wrong
taxes payroll tax fine.
deal with the daily struggles.
Fore
the bank account.
The accountant
point of view
different in the different stages.
So give me let's start with that.
[snorts]
party.
Do
reports.
>> Yeah.
Paranoid.
Oh,
get the books and get get a account.
bank accounts finances
businesses
get a business food
million billion. So
the reason was mentioned
yesterday conversation for one day
guilt.
Guilt
is a relationship
in emotional attachment.
Emotional trauma
point
subconsciously
personal budgeting
and the idea from budgeting is
the pointing budgeting.
So the reports
consciously. Okay.
It's not the million dollars. It's the
person you have to become to make the
million dollars that's important. Guilt
is usually a result
in the business.
The actual number the number reflect
push it the behavior
in the action from the business and the
guys changing the behavior guy changing
the number. So kicked off the numbers
reality
changes
millions. It's okay.
business
account
as I mention.
I bookkeeping. So
businessually
shop
business. I know
account finances
bank
belongs to
a business.
And this is sta forecasting
busy with the next busy.
So,000,000
CFO although
for.
So the concept is
So,
how's the system?
Report
quick.
So
bookkeeping company
outsourcing.
became a support
customer
just for the sales but
expenses in podcasting is sponsored by K
programmed
keeping track sales
of the report.
But that's the idea.
million
department
data entry analytics
inhouse
right So
we we mention
accountant.
established instab.
So
accountant
taxes
account was
taxes. Well,
the budget
expectation is
But I
tax perspective
reports.
Well, this is on jobs as they mention
the report is in terms
But the idea is mission business
personal
bank
uncomfortable
support. So
finances
enjoyed finances. Well,
I kind of enjoyed accounting. Well,
So
an accountant was getting finances
in the books and get to mention
accounting
from the books
actual bookkeeping
clients bookkeepers.
So
marketing
so
personalities
Fore
staff
get the bookkeeper
the businesses.
We complicated the businesses
going forward. This is
complicated transaction.
from the books as I mention
but
because
for the future
the data
reports
the bookkeeper, the accountant,
the
in
the level
knowledge was that was the company
staff.
Was the the staff in the company
meaning as
at least at least
but when they
report
Powerful
reports.
So
an accountant
The best
podcast is brand
of vaccin.
sales team 845660056
company
multiple states
of different categories for products
sales.
So bottom line
margin from the overhead versus the
sales in each in the location.
mention
in the penguin group. The basics
data is accurate.
focus in the next quarter from the
financial side of things. Okay.
explain part.
So
coming from the account
detailed
keeping track.
The next step,
the bookkeeper
in the customer's office
going forward.
and I garbage and garbage out like
garbage data is garbage reports garbage
analytics
and
this is the initial step. The next step
is I'm also do the report
in construction
is
job.
going forward.
Next move.
So as I mentioned, so this detailed
He'll never get to it.
Correct.
For the investment, it's an investment.
The finance is an investment. It's a
department. It's a big department in a
company. Especially,
Bookkeeping Department.
The owners the value invest in us the
return.
Yes.
>> Correct.
But
company is
the reason
is to make a profit
in our business. I'm busy.
The only logically
in most cases
to the point
lessons
account.
Profitable business
customer
insurance is a long process. So a
customer was on main form of payment
insurance.
Is it a bank account? That's
accounts receivable, cash, balance
sheet.
Account
account
business in the interesting points
first
as the the reports the P&Ls is designed
for taxes. The bank account is the plots
voose kicked
Forget it.
It's like
the guilt.
>> Cash in the bank. Cash in the bank.
This is the overall picture. The
detailed the detailed decisions
constantly
pink
as they part from the business.
Okay.
Why it's going down?
So
the view finances
appreciation
books
at some point as a guide
stock in finances.
invest
at some point.
books anyone with.
Okay.
bookkeeping of eventually
investment.
Yeah.
foreign.
So
painful
So
business
ATM machine outside equity partners.
podcast is sponsored by Capital
Services
Company
845271-6880
capital.com
new capital.com
Ideal customer Hansto was the field that
this is what is serviced best
>> and the ideal customer is I need is in
real estate construction and healthcare.
Yes, real estate can mine in owners,
developers, management companies,
brokers.
Construction is contractors,
subcontractors, lush electricians,
plumbers, roofers,
um cleaning companies and
healthare
facilities, dtom
labs, pharmacies.
So this is the industries
inventory businesses. Um,
so retail, manufacturing, uh, um,
inventory business, e-commerce,
real estate, construction, healthcare
and the typhen
best is a growthminded
business owner and was willma healthy
gazente business
of healthy.
Um
best israted
healthy way
next step
Mhm. So I'm interested
healthy mindset
owner and industries
experts
accountants marketing companies coach
up to a certain point.
Focus account focus
revenue range is is down average
customer. Average customer is
$50 million in revenue.
customers.
But the average cost is million.
Got it.
the financial category.
The government unfortunately
fortunately is deficient.
um process
is painful
meaning
the system is against
the business owners certain expectation
Accountant
staff is busy.
system.
So the bookkeeper.
So from that point of view
complicated
from the government.
So
system.
So
not my place to answer, but
WhatsApp
busy
customers.
So
okay. So,
whoever says office,
>> the accounting industry is known,
the accounting office,
the customers.
combination of
originally
accounting and I decided you know what
accountants are naturally
May customers otherwise
is a seasonal business
the March April
September October season extensionist.
service
affordsion
affords
customers
if I get the service. So
Okay.
>> So that's the idea. The client business
generally is this as charge
deliver a perfect service
and this is the best plants in business
market because
and do competitions
of service.
Correct.
Accountant is probably the perfect match
because this is our specialty.
Excel
formulas
of a structure
construction
into the passion
but passion is in details
of service. Okay. Interesting question.
was vacuent
businesses
20 million 50 million was considered
successful and established
was the successful companies what would
it be
was the companies was mentioned.
What would that be? Positives, dry
negatives as they mention
in the stage
and million follow.
So
mix and personal business says
Dr.
I fill in the beginning.
>> So I was I was business
and
taxes
mention businesses.
taxes
running a healthy business
do loans especially credit cards
swiped cards
the cars
23% interest in in in no time just
[snorts]
kicking up the reports.
I got mine in the hot guild and I got
invest in real estate. I got
Suddenly in the bank and I was food. Got
it.
Accounting whatever wherever you want as
an outsider was kicked in the business
perspective from the reality
perspective.
around mention
specifically with arbit
the most successful companies is mention
competent people
>> investment investment
>> what's investment I get the return
>> investment
return
um see down CFO COO
consultant
>> consultant
get advice
support all around the best investments.
>> Okay. Number two,
>> the tendency is
The spending
$1,000 in the accountion
in the account
[laughter]
successful
next.
Okay.
successful business
overhead cost of goods.
So
cost of goods and a healthy business. So
good
overhead
business owner
interesting point conversation.
One of the main reasons for businesses
fail is probably the reason because
business
in in those years neglect
not just financing neglect the service
and the service in the operation side of
things because things are good and you
start feeling very comfortable.
The habits and the structure
is the cash flow. The mention 2008 in
the midg
was real estate. They mention organized
from the properties business of
account
in 2012.
monitor
in emergency mode and they ended up
losing a lot and the business how they
issue as it grows as mentioned
comfortable. Part of success is I would
mit in bow certain disciplines was
misticked regardless of how things are
and is in personal life but this is a a
different discussion. One last question.
is an accountant
meaning what should he look for?
[snorts]
Okay.
What was
gave answers like
relationship
person
investments. So it's very much about
trust.
So
feel
otherwise
it's just not going to work.
I got feel the relationship.
References
in the industry
customers
reference
gave
And
usually
today
informationally
industry
pleasure
listeners
customers
for the business for the account
for the
So fast,000
taxion.
of the
most successful businesses and I
mentioned was CFO
as the accounting department
the best business mention mentioned
the books So
>> so it's camera officially
>> obviously this is just facts. It's it is
what it is.
>> [music]