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Ep 254: Your Biz Is Growing. Why Are You Still Broke?

[PODCAST] Your Biz Is Growing. Why Are You Still Broke?

Your Biz Is Growing. Why Are You Still Broke?

The Digital Slice Podcast is brought to you by The Friedman Group, LLC

Your agency’s revenue is growing. So why does your bank account still look like you’re just getting started?

Join Brad Friedman and Jody Grunden as they discuss subscription-based billing, remote leadership, cash reserves, and financial forecasting so you can make better growth decisions, build sustainable profitability, and create a business that supports your goals.

Jody Grunden is a pioneer in subscription-based accounting and Virtual CFO services. Since 2002, he has helped digital and creative agencies strengthen their finances and build more scalable businesses. His approach combines practical experience with a profit-focused maturity model designed to help agencies move from surviving to thriving.

After bootstrapping his own accounting business, Jody introduced subscription billing to improve cash flow and make advisory services more accessible. He also helped build an early fully remote Virtual CFO firm, expanding beyond a local talent pool by focusing on trust, clear expectations, and results. Today, through Summit Virtual CFO by Anders, he and his team help business owners connect their financial decisions to their long-term goals.

In this Episode:

  • Jody explains how slow-paying clients inspired him to replace traditional invoicing with subscription-based accounting services.
  • Jody discusses why trust, clear deadlines, and results matter more than tracking hours when leading a remote team.
  • Jody explores how AI and automation could shift accountants’ work toward strategic advice and CFO-level guidance.
  • Jody explains why cash reserves must come before expansion and shares his general cash benchmark for service-based businesses.
  • Jody identifies four areas to monitor: cash, financial performance, sales pipeline, and forecasting.
  • Jody distinguishes a dynamic forecast from an annual budget and explains how operational drivers reveal when to adjust pricing, pursue customers, or hire.
  • Jody encourages owners to define their desired exit, lifestyle, or legacy and work backward to the decisions they need to make today.

Quotes from this Episode:

  • [00:01:12] “I couldn’t afford to be a bank anymore.” – Jody Grunden
  • [00:10:52] “You’ve gotta trust, and you’ve gotta change the way that you, you do business.” – Jody Grunden
  • [00:14:03] “So accountants are gonna be more advisors.” – Jody Grunden
  • [00:16:37] “Let’s build cash first before we actually take that leap to make that next step.” – Jody Grunden
  • [00:17:49] “You have to manage all your metrics, and you have to really have a solid forecast in place in order to make, make that all happen.” – Jody Grunden
  • [00:19:09] “A forecast is dynamic. It changes every single month. It changes every single day, every single week.” – Jody Grunden

Today’s Guest:

Jody Grunden:

Connect with Brad

Brad Friedman

You can also call the office at 720.248.8185 or email brad@friedmansocialmedia.com.

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Affiliate Links & Transparency

Thank you for trusting me with my honest opinion on future purchases you may make after listening to this podcast. I am always completely transparent with you. As a friend of The Friedman Group, LLC you allow me to be able to use affiliate/referral links when suggesting items for purchase. Please know I am a customer myself or have done sufficient research to feel comfortable sharing these links with you. When you click on a link and purchase the item I may receive a small “commission.” This allows me to continue to provide you with quality content and doesn’t affect you in any way at checkout.

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