In this insightful episode, host Ed Parcaut sits down with guest Colin Sanburg to explore the critical importance of safeguarding personal and company information in today’s digital age. They recall the less secure days of yesteryear, sharing personal anecdotes to highlight how far we’ve come—and how vigilant we must remain.

The conversation transitions into discussing best practices for financial security within businesses. Ed and Colin delve into the necessity of implementing double signature checks and the risks associated with single signers. They recount instances of fraud and theft, emphasizing the need for independent verification of transactions and secure communication channels to thwart scams.

The discussion also shifts to the nuances of managing a business. Both entrepreneurial minds touch on the challenges of hiring the right people, maintaining company culture, and the growing trend of employing contract workers over full-time staff. Colin shares insights from his journey, including the launch of his fractional CFO business, Fin Elevate, which helps companies with strategy and financial expertise beyond basic bookkeeping and CPA services.

Ed and Colin agree on the value of mentorship, self-awareness, and planning for financial security and future growth. They also recount personal experiences of embezzlement, illustrating common pitfalls and stressing the need for robust internal controls.

Wrapping up, Ed hints at potential future episodes focusing on business topics and expresses gratitude for Colin’s valuable input. This episode is a must-listen for entrepreneurs wanting to understand the intricacies of financial and operational security in their ventures.