How can you manage, and maybe even improve, cash flow during these turbulent times? Here, music industry financial experts Alan Friedman, CPA, and Daniel Jobe, EA, draw on emerging best practices and ideas that have proven to work for their most successful clients—and can work wonders for you. Some are non-traditional, even unpopular, but all of them are vital to consider. (This session originally aired during NAMM Believe in Music Week in January 2021.)

Are you concerned about the financial impact of COVID-19 on your business? Join industry experts Alan Friedman, CPA, and Daniel Jobe, EA, of Friedman, Kannenberg & Co. for a vital online session about music business finance in the time of COVID-19, originally presented on April 1. Get tips and new ideas for generating cash flow and reducing expenses during this disruptive period.

This training, presented by financial expert Alan Friedman of Friedman, Kannenberg & Co., is a comprehensive video series that covers must-knows for the successful financial operation of a music retail business. It’s designed for anyone involved in the financial operation of a music store. Each video in this training is sequential, but you can watch them on-demand at your own pace.

In many cases, classifying music teachers, repair techs and other employees as independent contractors can literally bankrupt your company. In this eye-opening NAMM U session, music industry accountants Alan Friedman, CPA, and Daniel Jobe of Friedman, Kannenberg & Co. illustrate the potential cost of a labor audit gone wrong and steps you can take to prevent it.

More than ever before, it’s critical for music retailers to understand the financial principles of running a profitable business. Inventory management, intelligent financing, expense monitoring and proactive decision-making go a lot further than a mere bump in sales. Check out this session with Alan Friedman, CPA, on what really matters for your music store, and find out if you will pass the music retail financial IQ test!

Store valuation is easy to understand if you look at it from the buyer’s perspective. Here, Jaimie Blackman, president of BH Wealth Management, reveals the primary valuation drivers for a music retail business.

Are you a veteran music retailer or new to the business? Financial gurus Alan Friedman and Daniel Jobe of Friedman, Kannenberg & Co. say it doesn’t matter—smart financial management is required to grow your business regardless of your experience. At 2016 Summer NAMM, Friedman and Jobe gave retailers a list of what not to do in the fiscal running of a music store.

With the right planning, delaying your company’s transfer of ownership could make sense. Still, that doesn’t mean you delay your succession planning. You may want to consider a one-way buy-sell arrangement. Find out why.  

Creating a succession strategy takes time and outside help. In fact, most music retailers will require a team of professionals to help them design and implement their succession-planning strategy. Here, Jaimie Blackman, president of BH Wealth Management, outlines the necessary talent for a succession-planning team. If you're a store owner, get started today.

Is your store’s profit in line with your expectations? Financial gurus Alan Friedman and Daniel Jobe of Friedman, Kannenberg & Co. make it their business to help music retailers plan on profitability. At 2015 Summer NAMM, Friedman and Jobe gave retailers easy steps for building a working budget.