In this episode, Victoria Bennion welcomes Ciara Stockeland, speaker, author, Ironman athlete, and fractional CFO for inventory-based businesses. Ciara shares the story of how she launched her first business at 13, built and sold a subscription box company in under two years, and now empowers entrepreneurs to make sense of their numbers and reclaim financial freedom. She breaks down the most common mistakes inventory-based business owners make, how to prepare your business for exit, and why understanding your finances is the real path to freedom.About CiaraCiara Stockeland, is a speaker, author, 4x Ironman and Fractional CFO for inventory based businesses.Ciara has owned and operated a business since her early teens. As a serial entrepreneur, her business mindset and tenacity led her to opening her first store in 2006 which she then franchised. Her vast experience in both retail and wholesale industries led her to launch the first to market wholesale subscription box for boutique retailers, which she built and sold within 18 months. Most recently Ciara has launched the Inventory Genius, a consulting program for inventory-based business owners.She has twice had the opportunity to testify before two U.S. Senate Committees regarding the “joint employer” standard for businesses and its effect on small businesses and franchises. Additionally, in 2015 she represented small businesses at a White House Summit on Worker Voice and again in 2018 for a Summit on Economics.Ciara has been recognized as a Small Business Champion through SCORE, has held a seat on the United States Chamber of Commerce Small Business Council and is a Profit First Certified Coach. Through her consulting program, Ciara gives business owners the confidence and tools to build profitability and peace of mind in their inventory-based businesses.In her free time Ciara enjoys training for endurance races and most recently completed her fourth Ironman at the Ironman World Championships in Kona, 2023.She currently resides in Tennessee with her husband Jim and her Great Pyrenees Bentley.Key TakeawaysProfit is the PriorityBuilding a big business doesn’t mean you’re building a profitable one. Entrepreneurs should focus on margins and cash flow not just top-line sales.Know Your Five NumbersSuccess hinges on understanding five core areas: sales, cost of goods sold, gross margin, expenses, and net profit. Mastering these leads to control and confidence.Adaptability is StrengthListening to your customers and pivoting from your original business idea can open unexpected doors to scalable success.Plan to Exit Before You Want OutThe time to prepare your business for sale is not when you're ready to leave but well before, while you still have the clarity and control to make it valuable to someone else.Tell Your Story LoudlyWhether testifying before Congress or launching a business, Ciara emphasizes the power of sharing your personal experience to drive change and connect with others.Quote“It's not super attractive to fill out your spreadsheet and to look at your financials. It's very attractive when you have financial freedom, you write yourself a paycheck… That is what we can all get up in the morning for.” — Ciara StockelandMentioned in This EpisodeInventory Genius BookCiara Stockeland's Inventory Genius Method has helped hundreds of inventory based business owners create more profit and keep more cash. Get your free copy hereConnect with Ciara

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