What does it really take to achieve financial freedom for business owners?
In this episode of the Business Owners Tell All: What It Takes podcast, host Jamie Seeker interviews Randy Lorensen, the founder and CEO of Premium Cabinets, about building a scalable business—and the financial mindset needed to do it. With over 35 locations nationwide, Randy has learned firsthand how smart systems and clear money thinking can lead to freedom.
Whether you’re launching a business or scaling your operations, Randy shares valuable insights that can help you take control of your finances, your growth, and your time.
🎙️ Listen now: Financial Freedom for Business Owners – What Randy Lorensen Wants You to Know
▶️ Listen to the episode
🔧 How Systems Lead to Financial Freedom for Business Owners
Randy didn’t start out in the cabinet business—he started in sales and even spent 8 years playing poker professionally. His journey to financial freedom began when he saw an opportunity in an industry he didn’t know but knew he could learn.
By creating repeatable systems for marketing, design, and operations, Randy turned a one-location cabinet shop into a national dealer network. These systems now allow Premium Cabinets to empower other entrepreneurs to own and operate their own successful businesses—without reinventing the wheel.
📘 Demystifying Money: A Mindset Shift for Entrepreneurs
Understanding money is essential to achieving financial freedom for business owners—yet most people were never taught how money actually works.
That’s why Randy wrote Demystifying Money, a book that uses storytelling to break down complex financial concepts. From inflation and taxes to Bitcoin and investing, the book helps readers change the way they think about money.
🗣️ “Money has a huge impact on your life—but most people don’t know what it is or how it works.”
👉 Want to dive deeper? Read our guide on money mindset for entrepreneurs
💡 5 Steps to Financial Freedom for Business Owners
Here are Randy’s top tips to improve financial health while building your business:
1. Hire a Bookkeeper Early
You’re running a business, not an accounting firm. Let a pro handle the books and avoid preventable mistakes.
2. Track Cash Flow Closely
Profit ≠ cash. Monitor how money moves in and out to avoid surprises.
3. Keep Marketing Even When It’s Tight
🗣️ “Cutting marketing because business is slow is like cutting off your oxygen because you’re out of breath.”
Marketing is how you survive and thrive.
4. Avoid Tax Surprises
Know your tax obligations—state, federal, and everything in between. Don’t assume. Ask.
5. Invest in What You Don’t Know
If you’re not strong in finances or sales, hire or learn. Growth demands capability.
🎯 What It Takes to Be a Business Owner Today
At the end of every episode, we ask: What does it really take to be a business owner?
Randy says it’s about mindset—and knowing whether you’re truly cut out for it.
🗣️ “You should only be an entrepreneur if you have to.”
He adds that entrepreneurship means long hours, delayed paychecks, and difficult decisions—but also the freedom to build something on your own terms.
🔗 Where to Learn More About Randy Lorensen
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📘 Demystifying Money – Coming soon
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💼 LinkedIn
👋 Final Thoughts
Randy Lorensen’s journey is a reminder that financial freedom for business owners is possible—but only when you build systems, seek out financial knowledge, and stay willing to grow.
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