Numbers Before Hustle: Meaghan Likes on Pricing, Profit and Bad Debt

In this episode of the Home Service Studs podcast, Andrew Hathaway speaks with Meaghan Likes, a CPA, entrepreneur, and owner of Likes Accounting Company in Davis, California, which does bookkeeping for the trades and specializes in QuickBooks Online and ServiceTitan. Meg shares how she went from a family of failed entrepreneurs and a painful career as a tax accountant to starting a window-cleaning company with her husband Jeff, a world champion window cleaner, which led her to build an accounting company for trade owners and grow to 13 active businesses while traveling 40 weeks a year. The conversation covers the financial statement hacks from a talk she wrote with Tommy Mello, including never reading one column of numbers, benchmarking against goals and budgets, and making sure gross profit grows as fast as revenue, along with cutting wasted marketing spend, her ideal client profile, rebuilding her window-cleaning business after a down year by retraining middle management and documenting systems, pricing with confidence instead of competing on price, the key numbers every owner should know, the dangers of merchant loans, and building a global team with VAs in the Philippines. Support our Sponsors: 🤝 Thank you to Jake Frugé Jr of JFJ Holdings. JFJ Holdings helps companies scale and achieve founder-free growth to prepare them for successful exits. Website: https://jfjholdings.com/ and https://www.jakefrugejr.com/ Follow on Instagram:   / jakefrugejr   Connect on LinkedIn: https://www.linkedin.com/company/jfj-... — Chapters: 00:00 Financial Statement Hacks Preview 01:05 Sponsor Message: JFJ Holdings 01:54 Introducing Meaghan Likes and Her Journey into the Trades 04:09 Financial Statement Hacks: Comparisons, Goals, and Budgets 07:59 Pricing, Profit Margins, and Marketing ROI 09:24 Meaghan's Ideal Clients and Rebuilding Her Window-Cleaning Business 12:23 Pricing with Confidence Instead of Competing on Price 14:05 Key Numbers to Know and the Risks of Bad Debt 17:02 Travel, Lifestyle Businesses, and Global Teams 21:29 Where to Find Meaghan and Closing Thoughts Stream on Other Platforms: 🎙️ Spotify: https://open.spotify.com/show/4NTSVBQ... Connect with Andrew: Follow on Instagram:   / theandrewhathaway   Follow on Facebook:   / bighath33   Follow on TikTok:   / theandrewhathaway   Connect on LinkedIn:   / anhathaway   Hathaway Companies Website: https://hathaway-companies.com/ Virtual Assist Website: https://www.virtual-assist.co/ Freedom AI Website: https://freedom-ai.io/ Connect with Meaghan: Follow on Facebook:   / meglikesmoney   Connect on LinkedIn:   / meaghan-likes   Likes Accounting Website: https://likesaccounting.com/ 1️⃣ SUBSCRIBE TO THE CHANNEL 2️⃣ SUBSCRIBE TO ALL STREAMING PLATFORMS 3️⃣ SHARE THIS ON SOCIAL OR WITH A FRIEND #HomeServiceStudsPodcast #BuildersBiblePodcast #AndrewHathaway #SuccessMindset #HomeServices #Podcast Note: This podcast was previously known and titled as the “Builders Bible Podcast”.