Ep. 135 Unlocking Cash Flow Secrets: AI’s Impact on Bookkeeping and the Power of Sharing the Pie with Billie Anne Grigg

Unlocking Cash Flow Secrets: AI's Impact on Bookkeeping and the Power of Sharing the Pie with Billie Anne Grigg

Billie Anne Grigg, the Chief Strategic Guide for Profit First Professionals and Danielle delve into cash flow and explore the role of AI in the context of bookkeeping.. Lastly, they shift their focus to the concept of a "piece of the pie." This seemingly unrelated notion is profoundly relevant to businesses. The discussion underscores how companies often diversify beyond their core focus when they should engage complementary business professionals to serve the client. Metaphorically, the pie can and should be shared by all.

[01:06] Why do we focus on cashflow projections with Profit First, and what is baseline selling
[09:04] Working off the “process” of the Profit First plan
[11:54] Ai can be beneficial but will not replace bookkeepers and accountants
[20:17] Doing what you do best and collaborating with business owners who can provide complementary services to yours
[24:28] How to access resources on the Profit First Nation website

You need to know your cash flow projection, but you also need Profit First. It’s not an either-or; it’s both.
There is truth in the saying, “garbage in, garbage out.” So if you are using Ai, it must be set up correctly. However, Ai does not eliminate the need for an accountant or bookkeeper who can assess the financial situation.
Trying to do every service for a client is a mistake. Stay with what you do well and find complementary businesses you can co-op with so everyone gets a piece of the pie.