Beyond Numbers Embracing Entrepreneurial Passion

Business Legacy

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11d ago 29:42

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Discover the transformative journey from corporate finance to entrepreneurial success with Shanli Liu, founder of Freedom Folio. What if leaving a steady career could lead to a more fulfilling life and business? Shanley’s story is a testament to resilience and the power of personal connections, tracing her path from a childhood fundraising event in China to establishing her own CPA practice in Boston. The episode offers a candid look at the pivotal moments that fueled her transition, including learning from a seasoned CPA and leveraging her corporate experience to launch her own firm after motherhood inspired a new direction.

Learn how tax planning can elevate your practice management strategies with insights from Shanley's collaboration with POSBOT and her mentor, Tyler Thompson. The episode explores her evolved mindset from merely fulfilling tasks to embracing the entrepreneurial spirit, emphasizing the importance of strategic client selection and holistic tax planning. Shanley's experiences underscore the necessity of educating clients about tax complexities and the pitfalls of fragmented approaches. Discover practical solutions for scalable client education that combat industry-wide misinformation, ensuring both practitioners and clients are aligned in achieving financial success.

Explore the balancing act of entrepreneurship and personal life, as Shanli addresses the challenges of setting boundaries. Through personal anecdotes, including the extreme of taking a client call during labor, the conversation sheds light on the pressures faced by professionals, particularly women, in juggling work and family. Drawing inspiration from Tim Urban, the discussion highlights the need to prioritize family time amidst professional commitments. This episode is a heartfelt reminder of the importance of boundaries to prevent burnout and ensure you remain present for those who matter most.

Timestamps

00:00:00 - Introduction and Welcome to the Podcast: Shanli Liu's Journey

00:00:12 - Shanley's Early Life and Inspiration from China

00:02:05 - Transition from Corporate Finance to Entrepreneurship

00:03:30 - Founding Freedom Folio and Building a CPA Practice

00:06:45 - Balancing Motherhood and Entrepreneurship

00:09:15 - Importance of Learning to Say No in Business

00:11:37 - Embracing Entrepreneurial Mindset through Tax Planning

00:12:45 - Lessons from POSBOT and Training with Tyler Thompson

00:14:30 - Strategic Client Selection for Scalable Tax Planning

00:16:10 - Addressing Fragmented Tax Planning and Client Education

00:18:27 - Holistic Financial Planning for Small Business Owners

00:19:30 - Collaborating with Financial Advisors for Diversification

00:21:00 - Setting Boundaries to Maintain Work-Life Balance

00:22:36 - Challenges of Overworking and People-Pleasing

00:24:00 - Societal Pressures on Women Entrepreneurs

00:25:30 - Reflection on Family Prioritization and Tim Urban's Work

00:27:00 - Conclusion: Aligning Professional Success with Personal Well-being

Episode Resources: Connect with Shanli here: https://www.linkedin.com/in/shanli-liu-234b16b/

Legacy Podcast: For more information about the Legacy Podcast and its co-hosts, visit businesslegacypodcast.com. Leave a Review: If you enjoyed the episode, leave a review and rating on your preferred podcast platform. For more information: Visit businesslegacypodcast.com to access the shownotes and additional resources on the episode.

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