What does it take to turn a company saddled with debt into a profitable powerhouse? It takes patience, resilience, and careful planning, of course. But the most important quality is financial knowledge. That’s what real estate coach Kathleen Black realized when she became a 50% owner of a company drowning in debt. To pay off the company’s debt and start earning money, she needed to get her financial ducks in a row—and create a realistic growth plan. In our conversation today, Kathleen and I talk about her background, her approach to debt, and the financial lessons she’s learned. You’ll pick up tips on how to improve cash flow, how to get on the same page as your business partners, and what to do to build a five-year profit plan. About my guest:Entrepreneur, author, and speaker, Kathleen Black is one of Canada’s leading real estate coaches and trainers. She started her company, Kathleen Black Coaching, and Consulting, in 2015 after spending years in both real estate and coaching. Now, she mentors real estate agents and teams across Canada and the U.S. and leads the Ultimate Team Sumit, which is the largest team-specific real estate event in North America. In this episode we talk about:➤ How Kathleen got into coaching (4:51)➤ Why it’s important to share a similar business strategy with a business partner (7:21)➤ The 3 factors Kathleen looks at for business success (8:45)➤ The strategy Kathleen used to get her company out of the red (11:23)➤ The different financials you should review each month and why (15:15)➤ How the right team can help you get ahead (21:30)➤ Kathleen’s advice for women entrepreneurs (23:00)Keep ListeningCurious to learn more about financing your growing business?Check out the crowdfunding podcast series talking about equity crowdfunding and reward-based crowdfunding. Contact MeReady to transform your purpose to an impactful business financial story, profit, and joy? Schedule a chat with me at any time.Connect with Kathleen:➤ Website ➤ Kathleen’s new book: The Top 1% Life➤ Facebook ➤ Instagram ➤ LinkedIn ➤ Pinterest ➤ Twitter ➤ YouTube