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In this episode of Money and You, Michelle Perkins welcomes Walter Miller, founder and owner of Norman Professional Services, for a refreshingly human conversation about accounting, financial literacy, cash flow, and what business owners really need to understand about their numbers.
Walter shares his unusual path from actor and English major to accounting advisor and fractional CFO, and how his background as a teacher and communicator shaped the way he works with entrepreneurs. His firm helps professional service business owners move beyond bookkeeping and tax preparation into true financial clarity.
Michelle and Walter discuss why so many successful business owners still feel embarrassed about what they don’t know, why financial shame keeps people from asking important questions, and how understanding your numbers can become a powerful tool instead of a source of stress.
They also explore practical topics like margins, cash vs. accrual accounting, choosing the right tax accountant, pricing, collections, cash flow problems, owner compensation, and Walter’s powerful “days of cash” metric — a simple way to understand how much financial breathing room your business or household really has.
This episode is especially valuable for entrepreneurs, service providers, and accidental business owners who are ready to stop avoiding their numbers and start using them to make better decisions.
In This Episode, We Discuss:
- Why many business owners don’t understand their financial statements
- The shame and embarrassment that can come with not knowing your numbers
- Why successful entrepreneurs may still lack financial literacy
- The difference between bookkeeping, tax accounting, and business advisory work
- Why business owners should feel comfortable asking basic financial questions
- The danger of letting tax strategy drive operational decisions
- Why cash flow problems usually come from pricing, collections, spending, or a combination of all three
- How to calculate “days of cash”
- The emotional side of cash reserves
- Why your business is always “talking” to you through its numbers
Key Moments
09:21 – The client story that changed how Walter saw financial education 11:45 – Why business owners need accountants who welcome questions 14:39 – The pressure entrepreneurs feel to pretend everything is going well 19:53 – What good tax accounting service should include 22:07 – Why tax planning should not control operational decisions 24:57 – The three common causes of cash flow problems 29:34 – Walter explains the “days of cash” metric 33:21 – The emotional side of holding too much cash 42:57 – Walter describes his ideal client as the “accidental entrepreneur” 47:16 – What it means when your business is a “teenager”
Memorable Quotes
“There was value to be delivered beyond the bookkeeping.” — Walter Miller
“There’s a lot of embarrassment, sometimes shame, around what business owners do and do not know.” — Walter Miller
“Your business is a really interesting conversation partner.” — Walter Miller
“Its language is numbers.” — Walter Miller
“We don’t blame a teenager because they have acne. We just say that’s part of being a teenager.” — Walter Miller
About Walter Miller
Walter Miller is the founder and owner of Norman Professional Services, an accounting advisory and bookkeeping practice founded in 2004 and named after his beloved dog, Norman.
Today, Walter and his team provide bookkeeping, accounting advisory, and fractional CFO guidance to owners of professional service companies who are ready to understand their numbers and grow their businesses. Their mission is to nurture prosperous relationships as trusted teachers, helping business owners become more financially literate and more confident in their decisions.
Walter brings more than technical financial skill to his work — he brings a deep commitment to teaching, translating, and helping entrepreneurs understand what their businesses are trying to tell them.
Resources & Links
- Norman Professional Services: https://normanprof.com
• • Connect with Walter Miller on LinkedIn: https://www.linkedin.com
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