Chris WiserSerial Entrepreneur and MSP Growth Catalyst

Master Money Management | Essential Tips for Small Business Owners

Name: Master Money Management | Essential Tips for Small Business Owners
Uploaded: 2025-03-08T16:00:59Z
Channel: Chris Wiser
Description: Chris Wiser warns small business owners to master money management, sharing a personal anecdote about a trusted bookkeeper stealing $200,000 and costing…

8 Mar 2025

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Chris Wiser warns small business owners to master money management, sharing a personal anecdote about a trusted bookkeeper stealing $200,000 and costing him 10 years of good credit. He emphasizes that cash flow and sales—rather than bootstrapping alone—are critical to scaling (especially for MSPs), and advises outsourcing technical work (tip #10).

Questions this video answers

$200,000

10 years

No — they are not on your credit anymore.

Number 10

It is mind blowing to me how bad small business owners are at managing money. You need to become really good at managing money. And it's. I had to learn the hard way. I struggled with this a lot. I had a bookkeeper that I really trusted take 200 grand from me and I got it cost me 10 years of being of having good credit. Actually, that was back in the day when tax liens were on your credit too, by the way. They're not on your credit anymore. That was hard. So that is really important stuff. I'm going to go back to this one more time. You can no longer bootstrap an MSP to success. Cash flow will get you there though. This is why sales is key, guys. This is so important. And finally, number 10, contract out your tech. I'm not saying everything. I'm not saying set it and forget it.