Business Cents

Business Cents S2E10: Are You Measuring the Right Things? A Guide to Leading Indicators

Welcome back to Business Cents. In this episode, Melissa and Lloyd tackle a topic that's been buzzing through business conferences and boardrooms alike: leading indicators, and why they matter just as much as the financial metrics you're already tracking. They break down the difference between lagging and leading indicators in plain terms, walk through real examples like sales pipeline, close rates, and NPS scores, and have an honest conversation about why checking a box is not the same as driving results. Lloyd also shares a simple but sharp question that helped him realize he did not have a sales problem at all. If you are a growth-minded business owner who wants to stop only looking in the rearview mirror and start tracking what actually predicts future success, this one is for you. Have a question or want us to cover a topic on a future episode? Drop a comment and let us know! Connect with us:Melissa Terito [https://www.linkedin.com/in/melissaterito/]Lloyd Johnson [https://www.linkedin.com/in/ljohnsoncpa/]

Business Cents S2 E9: Audit Readiness

Audits do not have to feel like interrogations, but "red flags" can still worry business owners. In this episode, Lloyd and Melissa explain what tends to draw auditor attention today, including a closer look at a company’s IT environment and internal controls. Melissa raises the common fear of being "in trouble" over a question, and Lloyd clarifies that unusual swings, like sudden revenue jumps or higher personnel costs, are usually prompts for follow-up to confirm there are no material misstatements. They also flag the "Susie" factor: relying too heavily on one trusted employee without oversight, paired with the reminder that "ignorance is not a defense" and that a strong "tone at the top" matters. Practical focus areas include stale accounts receivable and changes in gross profit margin. Their takeaway is to stay proactive with Q3 or Q4 check-ins so the 2025 audit is smoother and more collaborative in 2026.

Business Cents S2 E8: "The Ostrich Effect"

In this episode, our hosts explore how they’ve integrated AI into their own firm, from hiring expert consultants to drafting rigorous security policies that keep client data safe. During this process, they realized how tempting it can be to fall into the "ostrich effect," burying their heads in the sand and wishing AI would simply disappear. To stay competitive in today’s rapidly evolving market, businesses must embrace it. This means leveraging AI as a true "thought partner" that streamlines background operations and fuels innovation, while doubling down on what technology cannot replace: personal relationships and high-touch services that make clients feel valued and understood.

Business Cents S2E7: Does My Business Need an Audit?

Welcome back to Business Cents. In this episode, Melissa and Lloyd break down when a business actually needs an audit, who typically requires it, and what an audit does and does not do. They clear up common misconceptions about fraud detection, explain “reasonable assurance” and materiality in plain language, and walk through the difference between an audit, a review, and a compilation using a simple car analogy. They also share a more targeted option for business owners with specific concerns: agreed upon procedures. We hope you're ready to dive in! Have a question about audits or want us to cover a topic on a future episode? Drop a comment and let us know! Connect with us:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/in/melissaterito/] ⁠⁠⁠⁠Melissa Terito⁠⁠⁠⁠⁠ [https://www.linkedin.com/in/melissaterito/] ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ [https://www.linkedin.com/in/melissaterito/]⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠⁠ [https://www.linkedin.com/in/ljohnsoncpa/]

Business Cents S2 E6: Why Your Business Feels Broke When It’s “Making Money”

Profit ≠ cash. And if you’re running a business, that difference matters more than you think. In this episode of Business Cents, we break down a common (and costly) misconception: just because your income statement shows a profit doesn’t mean you have cash in the bank. We cover: • Why accrual accounting can create “phantom income” • How accounts receivable quietly strangles cash flow • Why poor billing practices turn you into your client’s bank • The danger of paying taxes on money you haven’t collected • What owner distributions, debt payments, and equipment purchases do to your cash • How to rethink your contracts and payment terms to get cash in faster If you’ve ever said, “We’re profitable… so why is cash so tight?” — this episode is for you. Bottom line: Know your numbers. Watch your balance sheet. Tighten your billing. And stop hoping cash will magically show up. Because hope isn’t a strategy — but better systems are.