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Cash Flow Mastery with Anthony Nitsos
On this episode of The Profit Answer Man, we welcome Anthony Nitsos, the CEO and Founder of SaaS Gurus. Anthony shares his journey from medical school to mastering finance and becoming a trusted advisor to SaaS startups. His unique perspective focuses on addressing the root causes of financial and operational inefficiencies, bringing lessons from medicine and Japanese manufacturing to the business world.
In this episode, you will learn:
Why Anthony left medical school and how that shaped his approach to problem-solving in business. The importance of preventive measures in finance, akin to healthcare practices. How understanding and applying lean processes can enhance operational efficiency. Insights from Anthony’s experiences with Japanese business principles and their application in finance and accounting. Practical steps SaaS startups can take to streamline operations and achieve consistent profitability.Key Takeaways:
Preventive Finance is Key: Much like in healthcare, treating symptoms without addressing the underlying cause can lead to recurring problems. Anthony emphasizes identifying and solving root issues in accounting and finance to prevent recurring operational challenges. Efficiency Through Standardization: Borrowing from Japanese manufacturing, Anthony underscores the value of creating standardized processes in repetitive tasks like invoicing, payroll, and sales order creation. This minimizes errors and saves time and resources. Cultural Lessons on Frugality and Value: Influenced by his Greek immigrant background and Japanese business culture, Anthony highlights the significance of being resourceful while delivering maximum impact—focusing on quality over quantity Understanding SaaS-Specific Challenges: SaaS companies face unique financial hurdles, from managing subscriptions to scaling operations. Addressing these challenges requires a tailored approach that includes proper financial forecasting, expense management, and strategic investment.About Anthony Nitsos:
Anthony Nitsos is the founder of SaaS Gurus, a fractional CFO service dedicated to SaaS startups. With a rich background in medical training, lean manufacturing, and financial leadership, Anthony’s insights are rooted in finding efficient, value-driven solutions for businesses. He has been instrumental in the success of unicorn exits like Duo Security and LLamasoft, helping SaaS businesses scale with financial clarity.
Conclusion:
Anthony Nitsos demonstrates the power of applying lessons from diverse disciplines to business finance. By focusing on prevention, standardization, and cultural efficiency, SaaS startups can navigate complex financial landscapes with confidence. His journey is a testament to the importance of holistic thinking in achieving sustainable profitability.
Links:
LinkedIn: https://www.linkedin.com/in/anthonynitsos/
Website: https://saasgurus.io/
Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman
Sign up to be notified when the next cohort of the Profit First Experience Course is available!
Relay Bank (affiliate link) – https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst
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Building the Right Business Model with Wes Barefoot
In this episode, we dive into the exciting and often misunderstood world of franchising with Wes Barefoot, entrepreneur, franchise expert, and host of the Path to Freedom podcast. Wes shares his journey from corporate employee to franchise owner and consultant, detailing how franchising can create financial and time freedom for aspiring entrepreneurs.
In this episode, you will learn:
What Makes Franchising a Unique Pathway: Explore how franchising offers a structured system that accelerates business success for individuals, even those without industry experience. The Blueprint for Franchise Success: Learn the steps to identify the right franchise opportunities based on personal goals, interests, and financial capabilities. Insights on Franchise Operations: Discover the nuances of owning and managing franchise businesses, including lessons from Wes’ personal ventures. How to Achieve Freedom Through Business Ownership: Wes shares actionable tips to transition from employee to entrepreneur while achieving financial independence.Key Takeaways:
Franchising Benefits: Wes explains how the proven systems and support within franchise models can help entrepreneurs avoid the steep learning curve of starting a business from scratch. Learning from Experience: Through his own journey with two franchise businesses—one he continues to operate—Wes illustrates the potential of franchising to create sustainable and profitable business models. A Tailored Approach: The importance of aligning franchise selection with personal values, skills, and long-term goals is crucial to success. Freedom and Flexibility: Franchising isn’t just about business ownership; it’s about achieving a lifestyle where your business serves your life, not the other way around.About Wes Barefoot:
Wes Barefoot is a seasoned entrepreneur with years of experience in the franchising space. As a franchise owner himself, Wes now uses his expertise to guide aspiring business owners through the process of identifying and securing franchise opportunities that align with their aspirations. He is also the host of the Path to Freedom podcast, where he shares insights on building freedom and success through business ownership. When not working, Wes enjoys life in Wilmington, NC, with his wife and two children.
Links:
Website: path2freedom.com
YouTube: @FRANCHISE2FREEDOM
Instagram: @PATH2FRDM
Facebook: PATH TO FREEDOM
LinkedIn: Wesley Barefoot
Conclusion:
Franchising might not be the first option that comes to mind for aspiring entrepreneurs, but as Wes Barefoot demonstrates, it can be a powerful tool for creating financial independence and a fulfilling life. By leveraging systems and support, franchise owners can achieve their dreams faster and more effectively than going it alone. Tune in to this episode for a deep dive into the world of franchising and actionable insights to jumpstart your path to freedom.
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Fehlende Folgen?
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Optimizing Your Business Finances with Miller Bradford
Welcome back to The Profit Answer Man Podcast! Today, we dive into the dynamic world of financial management for small businesses with our guest, Miller Bradford, founder of Up Accounting Inc. Miller specializes in providing innovative bookkeeping, payroll, and financial operations solutions for small businesses, with a particular focus on builders and Chick-fil-A franchises. Join us as we explore Miller's journey, his insights into financial systems, and how Profit First helps businesses achieve consistent profitability.
In this episode, you will learn:
The Challenges of Managing Builders and Franchise Finances: Miller shares how his team works with both builders and franchise owners, identifying similarities and unique challenges in these industries. The Impact of Profit First on Business Success: Discover how Miller’s clients leveraging Profit First are among the most profitable, organized, and cash-flow stable businesses. How to Build Scalable Financial Operations: Learn tips for managing financial workflows and scaling operations as a growing small business. Utilizing Technology for Financial Management: Miller highlights tools and practices that streamline financial processes for greater efficiency and accuracy.Key Takeaways:
Profit First Drives Success: Miller confirms that his most successful clients embrace Profit First principles, creating disciplined cash management practices that prevent financial shortfalls and promote growth. The Importance of Systems: Having the right systems in place not only simplifies bookkeeping but also creates a foundation for scalability. Partner with Experts: Entrepreneurs excel when they focus on their core strengths and partner with professionals to handle accounting and payroll operations.About Miller Bradford:
Miller Bradford is the founder of Up Accounting Inc., based in Birmingham, Alabama. Established in 2022, Up Accounting specializes in bookkeeping, payroll, and financial management services for small businesses. Over the past two years, Miller has grown his firm to serve over 45 clients across 15 states, supported by a team of three employees. With a focus on leveraging technology, Miller helps businesses streamline their financial operations, enabling owners to focus on growth and profitability.
Links:
LinkedIn:https://www.linkedin.com/in/miller-bradford-172190146/
Instagram: https://www.instagram.com/builderbookkeep/
upaccounting.com
Conclusion:
Miller Bradford’s insights underline the value of embracing systems like Profit First to achieve financial clarity and stability. Whether you're a builder, franchise owner, or small business entrepreneur, his strategies offer actionable steps to streamline operations, optimize cash flow, and drive profitability.
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
The Shatterproof Entrepreneur with Scott Reib
In this episode of The Profit Answer Man, Rocky Lalvani dives into the critical topic of protecting and growing your business with Scott Reib, known as "America's Legal Coach." With over two decades of experience in helping business owners secure their ventures, Scott shares strategies that are foundational for sustainable business growth and resilience. As a Zig Ziglar Legacy Certified Trainer and a thought leader in the legal field, Scott introduces practical ways to fortify your business against legal and operational vulnerabilities, ensuring it remains "shatterproof."
In this episode, you will learn: Why Every Business Needs a Legal Foundation: Scott explains the importance of establishing legal protections early to avoid costly issues down the line. How to Shift Your Mindset on Legal Services: Discover how treating legal advice as a proactive resource, rather than a reactive one, can save you time and money. Strategies for Scaling with Confidence: Scott provides insights into building structures that support sustainable growth without exposing your business to unnecessary risks. The Power of the Profit First System in Business Stability: Learn how combining the Profit First system with solid legal foundations can improve financial health and longevity. Creating a Legacy Through Mindset and Leadership: With his Zig Ziglar background, Scott discusses how mindset is crucial for business growth and resilience, emphasizing the importance of continuous learning and self-improvement. Key Takeaways: Legal Structure is Essential for Growth: Scott shares why setting up your business with the right legal structures from the beginning protects it as it scales, reducing risks and safeguarding profitability. Proactive Legal Counsel: Scott challenges the typical view of lawyers as "emergency responders," presenting a model where legal advice is more akin to a primary care approach—an essential and ongoing part of your business planning. Mindset Drives Business Success: Embracing Zig Ziglar's principles, Scott highlights the "Be, Do, Have" philosophy, stressing that personal growth and mindset are foundational to achieving business goals. Practical Steps for Business Resilience: Scott’s "Shatterproof" approach includes strategies to address potential vulnerabilities in your operations, finances, and employee relationships. Profit First as a Business Backbone: Integrating Profit First principles ensures that businesses remain profitable, regardless of revenue fluctuations, providing a buffer during challenging times. Bio:Scott Reib, known as “America’s Legal Coach,” is the official Zig Ziglar Small Business Lawyer and a Ziglar Legacy Certified Trainer. For over 20 years, Scott has been instrumental in helping business owners, entrepreneurs, and coaches establish solid legal foundations through his firm, Reib Law, and his consulting platform, Shatterproof Solutions. Scott’s Access Plan, a subscription-based legal service, allows business owners to access affordable, proactive legal advice before crises arise. Scott is also the host of The Shatterproof Entrepreneur podcast and author of the upcoming book by the same title, aimed at helping business owners scale safely and sustainably.
Links:
ReibLaw.com LinkedIn: in/TheScottReib X: @TheScottReib Facebook: /TheScottReib Podcast: TheShatterproofEntrepreneur Conclusion:Creating a shatterproof business is about more than just having a great product or service. Scott Reib emphasizes the importance of building a strong legal foundation, prioritizing personal growth, and embedding financial discipline through the Profit First methodology. His practical advice is a must-listen for any business owner looking to protect their business from unforeseen challenges and scale with confidence. Don’t miss this valuable discussion on The Profit Answer Man, where business security, growth, and profitability take center stage.
For entrepreneurs who are eager to build not just a profitable, but a resilient business, Scott’s insights offer a roadmap to success. Listen in to learn how to fortify your business and set it up for long-term growth.
Hi, I’m the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz
Sign up to be notified when the next cohort of the Profit First Experience Course is available!
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Making the Business of Home Building Profitable with Jose Berlanga
In this episode of The Profit Answer Man, we have a fantastic guest, José Berlanga, a seasoned real estate entrepreneur who has successfully ventured into land development, residential construction, and investment properties. José shares his incredible journey from a reluctant start in real estate to becoming deeply involved in an industry that shaped his career over several decades. He dives deep into the nature of the real estate business, the complexities of cash flow, and why timing is everything when making business decisions.
In this episode, you will learn:
The Realities of Cash-Intensive Businesses: José explains how the long cycles of real estate investments create both opportunities and challenges, with significant capital being tied up for extended periods. The Domino Effect in Real Estate Development: How one project often leads to another, creating a chain reaction that pulls entrepreneurs deeper into the industry. The Emotional Side of Business Timing: When business is booming, it’s hard to let go, but when it's struggling, it can be equally hard to exit. Why Real Estate is a Long-Term Game: José emphasizes that timing the market is challenging, and the cycles can be difficult to predict, but managing these cycles is essential to long-term success.Key Takeaways:
Cash-Flow Management is Critical: Real estate development ties up large amounts of capital for long periods, which means managing cash flow effectively is vital to sustaining the business. Market Timing is Unpredictable: Whether the market is booming or busting, it’s difficult to know when to pull out. Staying in too long can cost you, but leaving too soon might mean missing out on the next peak. The Pull of the Business: Once you start, it’s hard to get out, especially if multiple projects are in motion. This creates a domino effect where one project leads to another, keeping you deeply entrenched. Embrace the Long Game: Real estate is not a short-term venture; it’s a commitment that requires patience, persistence, and careful financial planning.Bio
José Miguel Berlanga, a successful entrepreneur from Mexico City, has spent over 35 years in various industries but made his mark in Houston's real estate sector. He co-founded Tricon Homes and is deeply involved in land development and property investment. Beyond real estate, José has an extensive background in business administration, economics, and philosophy, which has contributed to his success across multiple ventures. He is also a mentor and inspiration to budding entrepreneurs, sharing his vast experience and wisdom. You can learn more about José at his website here.
Conclusion
Real estate may not have been José Berlanga’s original goal, but through decades of experience, he found his footing in this capital-intensive, long-cycle industry. His insights on cash flow, business cycles, and the pull of staying in business offer invaluable lessons for entrepreneurs in any field. Whether you're in real estate or another industry, the principles of managing cash flow and understanding market timing remain universal.
Links: Jose Berlanga https://joseberlanga.com/ LinkedIn: https://www.linkedin.com/in/jose-berlanga-900a9518/ Amazon: https://amzn.to/3ST0d9uHi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Cash Is King with Peter W. Kingma
In this episode of The Profit Answer Man, we sit down with Peter W. Kingma, author of CASH IS KING and leader of Ernst & Young LLP’s working capital practice in the Americas. With over 30 years of experience advising global companies on all things cash management, Peter joins us to discuss why cash flow is the true backbone of business success and how business owners can shift their focus from profit-and-loss statements to developing a “cash culture.”
Peter provides actionable strategies for managing the five steps from order-to-cash, improving collections, and boosting cash flow through better customer management. We also dive into the importance of supply chain management and discuss how creating a “Cash Leadership Office” can transform the financial health of any organization.
In this episode, you will learn: Why Building a Cash Culture is Essential: Peter explains why focusing solely on profit-and-loss statements can lead businesses astray, and how a cash-centered approach ensures long-term financial stability. The Order-to-Cash Process: Learn the five key steps in the order-to-cash process that businesses must optimize to maintain healthy cash flow and avoid liquidity crunches. Strategies for Effective Collections: Peter shares five tips for managing customer relationships and disputes to improve collections and cash conversion cycles. Supply Chain Management for Cash Flow: Discover how better supply chain management can keep your cash flowing smoothly, even during challenging economic times. Creating a Cash Leadership Office: How establishing a dedicated leadership team to focus on cash flow can enhance your bottom line and allow for sustainable business growth. Key Takeaways: Cash Over Profits: Even large companies struggle to manage cash effectively. Business owners must understand that cash flow is more critical than simply showing a profit. Sales ≠ Profit, and Profit ≠ Cash: Peter emphasizes that even profitable sales can be harmful if cash isn't collected on time. Businesses must prioritize cash flow management alongside sales and profit. Avoiding Cash Flow Pitfalls: Common mistakes, such as offering long payment terms or failing to consider the financial impact of customer service agreements, can cripple cash flow. Aligning Teams with Cash Goals: Often, sales teams are incentivized based on revenue, not cash collection. Aligning incentives with cash goals can prevent cash shortfalls and improve business sustainability. Bio:Peter W. Kingma is the author of CASH IS KING and leads the working capital practice for Ernst & Young LLP in the Americas. With over 30 years of experience advising global companies, Peter specializes in cash management and working capital strategies across industries such as manufacturing, consumer products, aerospace, and defense. He has contributed to publications like CFO Magazine and CNBC, and is passionate about helping businesses build a cash-centric culture.
Conclusion:Cash is the lifeblood of any business, and without careful management, even the most successful organizations can run into trouble. In this episode, Peter Kingma provides valuable insights into how business owners, large or small, can develop a cash-focused mindset and manage their operations for long-term financial health. By implementing the strategies Peter outlines, you can ensure your business not only survives but thrives, no matter what economic challenges you face.
Links:
https://peterkingma.com/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Getting PR for Pennies with Mickie Kennedy
In today’s episode of The Profit Answer Man, we are joined by Mickie Kennedy, the founder of eReleases. Mickie brings over 25 years of experience helping small businesses and entrepreneurs increase their visibility and gain access to national media outlets through affordable press release services. From creative writing to mastering the art of the press release, Mickie shares how his journey led him to become an expert in public relations and how businesses can use press releases to grow their brand effectively.
In this episode, you will learn:
The evolution of press releases over the last 25 years and how media consumption has changed. How small businesses can use press releases to gain national attention at a fraction of the cost. The importance of telling compelling stories that capture media interest. How new media, like bloggers and influencers, play a pivotal role in today’s PR landscape.Key Takeaways:
The Power of Storytelling in PR: Mickie explains how journalists are not just interested in raw data, but in the stories behind that data. A well-crafted narrative is what gets picked up by the media, helping businesses gain the exposure they seek.
Affordability for Small Businesses: Mickie’s eReleases service was created with small businesses in mind, offering them the opportunity to get national distribution through PR Newswire without the exorbitant cost. He emphasizes the importance of making press release services accessible to businesses of all sizes.
The Changing Media Landscape: Mickie highlights the shift from traditional journalists to new influencers, such as bloggers and Instagram personalities, showing how businesses can leverage these platforms for PR.
Best Practices for Press Releases: According to Mickie, a successful press release is one that tells a unique story, resonates with the intended audience, and aligns with the brand’s goals. He also stresses the importance of targeting the right journalists and publications.
About Mickie Kennedy:
Mickie Kennedy is the founder of eReleases, a company that provides affordable press release services for small businesses, authors, and startups. With over 25 years in the industry, Mickie has helped countless businesses gain media exposure in major outlets such as The Wall Street Journal, CNN, and Bloomberg. He holds an MFA in Creative Writing from George Mason University and has a deep passion for storytelling. When he’s not crafting press releases, Mickie enjoys British science fiction and has a Monday night poetry group. He lives in Baltimore County with his family and two feuding cats.
Conclusion:
Whether you're a startup looking to gain media attention or a small business aiming to boost your brand, Mickie Kennedy’s insights into the world of press releases offer invaluable advice. By focusing on storytelling, targeting the right media, and understanding the modern PR landscape, you can harness the power of press releases to elevate your business. Be sure to tune in to the full episode to get all the expert strategies from Mickie Kennedy himself!
Links:
https://www.ereleases.com/plan/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Creating an Efficient Profit Monitoring System with Jason Kruger
In today's episode of the Profit Answer Man, we are thrilled to have Jason Kruger, the founder and CEO of Signature Analytics, join us. With over 20 years of experience in accounting and business advisory, Jason shares valuable insights into how outsourced accounting and CFO advisory services can help business owners optimize profitability, improve financial processes, and make smarter decisions.
In this episode, you will learn:
Why understanding cash flow is critical for small and mid-sized businesses. How to assess the efficiency of your current accounting processes. Key strategies to ensure accurate financial reporting. The benefits of outsourcing accounting to achieve scalability and operational efficiency.Key Takeaways
Cash Flow Clarity: Jason emphasizes the importance of cash flow management, especially for small and mid-sized businesses. "Cash flow is often the first pain point," he says. Without proper cash flow forecasting and management, businesses struggle, no matter how much revenue they generate.
Efficient Accounting Processes: Business owners often don’t know if their accounting processes are efficient until they experience issues, such as poor cash flow or inaccurate reporting. Jason recommends creating a process that ensures monthly book closing and timely, accurate financial reporting.
Outsourcing Accounting Services: For companies lacking the resources for a full in-house accounting team, outsourcing can provide the expertise needed without the costs of full-time employees. Jason explains how outsourced solutions can provide next-level financial insights at a fraction of the cost, allowing business owners to focus on growth.
Focus on Reporting: Accurate financial reports are the foundation for strategic decision-making. Jason explains that outsourcing accounting services can ensure timely and consistent reporting, which is essential for tracking profitability and making informed decisions.
Bio
Jason Kruger, founder of Signature Analytics, is an expert in helping businesses make smarter financial decisions. With a background in public accounting, including nearly a decade at Deloitte, Jason brings a wealth of experience to his clients. Signature Analytics, under his leadership, offers outsourced accounting and CFO advisory services to small and mid-sized businesses, providing them with the tools and expertise typically reserved for larger companies. His mission is to help businesses improve their financial health and increase profitability by offering tailored accounting services. Signature Analytics has been recognized on the Inc. 5000 list for five consecutive years.
Conclusion
Whether you're struggling with cash flow management or simply looking to streamline your accounting processes, Jason Kruger provides practical strategies that can transform your business. By outsourcing accounting tasks and focusing on accurate financial reporting, business owners can not only save money but also drive profitability and scalability.
Links:
https://signatureanalytics.com/
https://www.instagram.com/signatureanalytics/
https://www.facebook.com/SignatureAnalytics
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Buying VS Starting A Small Business with David Barnett
In this episode of The Profit Answer Man, David C. Barnett, a seasoned expert in buying and selling small businesses shares his insights into the world of business acquisition versus starting a new business. We dive into what makes a business "sell-ready" and explore how preparing your business for sale can improve not only its value but also its profitability and enjoyment. If you're considering growth, David offers invaluable advice on leveraging acquisitions as a path to expansion.
In this episode, you will learn:
The key differences between buying an existing business and starting a new one. Why having a "sell-ready" business can make it more profitable—even if you don't sell it. Strategies for preparing your business to attract the right buyer. How to use acquisitions to grow and scale your business quickly and effectively.Key Takeaways:
Sell-Ready Businesses are More Fun
David emphasizes that businesses designed with a potential sale in mind often run smoother, making them more enjoyable to operate. Owners of sell-ready businesses tend to focus on systems, profitability, and efficiency, which naturally lead to better financial outcomes and less day-to-day stress.Buy vs. Start: Understanding the Mindset of a Buyer
If you're planning to sell, understanding the buyer's mindset is crucial. Buyers are looking for businesses that are stable, profitable, and well-documented. By focusing on what potential buyers want, you can make your business more attractive and profitable.Growth Through Acquisition
For business owners looking to expand, acquiring similar businesses can be a faster and often less risky way to grow. By purchasing businesses in other markets or regions, you can take advantage of your existing knowledge and systems, mitigating the risk that comes with starting from scratch.Make It Sell-Ready, Even if You Don’t Sell
Preparing your business as if you were going to sell it can have surprising benefits. When systems are in place and the business runs efficiently, owners often find themselves less eager to sell because the business is more fun and profitable to run.Bio:
David C. Barnett is a former business broker who sold dozens of businesses before transitioning into consulting. His consulting practice helps business buyers and sellers navigate transactions without the chaos of the traditional commission-based brokerage model. He’s the author of multiple books, including Buying Versus Starting a Small Business, and hosts a popular YouTube channel offering advice on business transactions and management. Although based in Canada, David works with clients worldwide, with a majority located in the U.S. Learn more about David at www.davidcbarnett.com.
Conclusion:
David’s expertise offers invaluable insights for entrepreneurs, whether you're looking to sell, buy, or grow your business. Focusing on making your business sell-ready, even if you're not planning to sell, can lead to higher profitability, more enjoyment, and a business that’s more attractive to potential buyers. If you’re considering growth through acquisition, this episode provides a roadmap for scaling without the risks of starting from scratch.
Links:
Blog: www.DavidCBarnett.com
Linkedin: http://ca.linkedin.com/in/davidbarnettmoncton
FaceBook: https://www.facebook.com/DBarnettMoncton/
YouTube: https://www.SmallBusinessAndDealMakingPodcast.com
Soundcloud: https://soundcloud.com/dbarnettmoncton
Instagram: https://www.instagram.com/dbarnettmoncton/
Twitter: https://twitter.com/DBarnettMoncton
Email List Signup: https://www.DavidCBarnettList.com
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
The 7 Financial Questions You Need to Answer with Richard Bond
Welcome to another insightful episode of The Profit Answer Man! Today, we are joined by Richard Bond, founder of Bond & Company, a boutique financial recruiting firm specializing in treasury finance and pricing. With over 35 years of experience, Richard has worked with major corporations and small businesses alike, offering invaluable insights into the challenges and strategies around recruiting the right financial talent. In this episode, Richard shares his unique perspective on how finance professionals can have a transformative impact on businesses, especially small to mid-sized companies that are often under-resourced in their finance departments.
In this episode, you will learn:
The Importance of Hiring the Right Finance Person: Richard explains why having the right financial professional can make or break a business. He also discusses how to identify whether your business needs to upgrade its finance team. Overcoming the Fear of Finance: Many business owners shy away from diving into their financials, but Richard offers simple strategies to help them conquer this fear and gain more control over their financial outcomes. 7 Key Questions to Ask Yourself: Learn about the seven critical questions Richard developed to help business owners assess their financial health quickly and effectively. Answering these will give you immediate insights into whether your business needs a stronger financial foundation.Key Takeaways:
Small Companies, Big Impact: Richard emphasizes that small businesses can see dramatic improvements by hiring the right financial professionals, who can help streamline operations, reduce costs, and increase profitability.
Fear of Firing the Controller: Many business owners are hesitant to make changes in their finance department out of fear, but Richard reassures that with proper guidance, these transitions can be smooth and lead to better financial stability.
Finance as a Business Driver: Rather than seeing finance as just a back-office function, Richard advocates for making it a core part of strategic decision-making in your business.
Bio:
Richard Bond founded Bond & Company in 1986, and over the last 35 years, the firm has specialized in recruiting for treasury finance and pricing roles. Initially working with large entities like PepsiCo and PwC, Bond has recently focused on smaller companies, providing them with the financial expertise they need to grow. He holds an undergraduate degree from Lehigh University and an MBA from Wharton. Before transitioning into recruiting, he successfully doubled sales and profits in his family business. Richard currently resides in Pennsylvania and volunteers with The Acceleration Project, assisting small businesses with their financial strategies.
Conclusion:
If you're a business owner looking to take control of your finances, this episode offers valuable insights into the power of having the right financial talent on your team. Richard Bond's experience and practical advice provide actionable steps that can help you hire smarter, strengthen your financial position, and ultimately, improve your business's bottom line. Tune in, take notes, and see how these tips can transform your approach to financial management.
Links:
https://bondandcompany.com/ https://www.linkedin.com/in/richardrbond/Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
How to Build a SmoothScaling™ Business So You Can Maximize Life Profit™ with Brad Martineau
In today's episode of The Profit Answer Man, we’re joined by Brad Martineau, the CEO of SixthDivision and Co-Founder of PlusThis, who shares his incredible journey and insights into how entrepreneurs can successfully scale their businesses without sacrificing their lives in the process. With over 70,000 hours spent in the trenches working with businesses at every stage, Brad has refined a step-by-step process for achieving smooth, sustainable growth. Whether you're a six-figure entrepreneur looking to scale up or a business owner wanting to streamline your operations, this episode will provide actionable advice to help you build a business that supports your lifestyle, not consumes it.
In this episode, you will learn:
Smooth Scaling Strategies: Brad discusses his experience in helping entrepreneurs build businesses that scale smoothly. He shares techniques for getting the results you want from your business without overwhelming yourself with the complexities of technology and growth.
The Key to Automation Success: Brad explains how business automation can become a daunting task for many entrepreneurs and provides a clear process for simplifying and organizing automation efforts, so they work for you—not against you.
Navigating the Scaling Dip: We talk about the challenging "dip" that many businesses face when growing from mid-six figures to early seven figures. Brad shares how to manage this phase effectively and avoid the common pitfall of massive profit dips.
Creating a Life-Changing Business: Brad emphasizes his passion for helping businesses that are on the verge of breaking through into higher revenue but still struggle with growth pains. He talks about his sweet spot—entrepreneurs striving to move from six to seven figures—and the changes that lead to life-changing results.
Key Takeaways:
Prepare for the Growth Dip: Every business faces a dip in profitability when scaling. However, this doesn’t need to be a deep trough. With proper planning and awareness, you can minimize this phase.
Don’t Over-Build Before You’re Ready: Many entrepreneurs mistakenly build infrastructure and hire too quickly, leading to an unnecessary dip. Brad’s advice? Build just-in-time rather than too far ahead of the curve.
Tech That Works for You: Automation is powerful, but only if it's done correctly. Brad shares how to corral your tech tools to keep them from adding complexity and frustration to your business.
About Brad Martineau:
Brad Martineau is the CEO of SixthDivision and Co-Founder of PlusThis. He has spent over a decade helping entrepreneurs navigate the complexities of business automation. With a personal mission to help business owners create smoother paths to success, Brad and his team have worked with big names like Daymond John’s Shark Group, DigitalMarketer, Dave Ramsey’s EntreLeadership group, and many more. Brad is also a co-founder of several SaaS businesses, including TagGenie and Slottable, and continues to develop tools that help entrepreneurs streamline their operations and reach new levels of success.
Outside of business, Brad is a basketball enthusiast, a lover of flat-brimmed hats, and a family man with five kids and a grandchild on the way. He’s dedicated to helping entrepreneurs find balance—achieving business success without sacrificing their personal lives.
Connect with Brad Martineau:
Website: https://smoothscaling.co
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Breakout Valuation with Patrick Donohue
In this episode, we dive into the remarkable journey of Patrick E. Donohue, an entrepreneur and valuation expert, embarked on his financial journey with a lemonade stand at age four and invested in Coca-Cola shares by age ten. Equipped with a Chartered Financial Analyst (CFA) designation, Patrick has emerged as a reliable investor, adept stock analyst, and valuable advisor to various entrepreneurial endeavors. As the visionary founder of Hill Capital Corporation, a private investment fund supporting emerging growth companies, he brings a wealth of unique insights into the intricacies of finance and business dynamics. Patrick’s dedication extends to serving on the boards of the Entrepreneurs’ Organization of Minnesota and the CFA Society of Minnesota, and he’s the driving force behind the creation of 1 Million Cups Eden Prairie. Connect with Patrick at BreakoutValuation.com to tap into his wealth of experience and expertise.
In this episode, you will learn the following:
Significance of maintaining cash reserves for business stability. Concept of the cash balance trifecta (current cash, accounts receivable, accounts payable). Common misconceptions about business growth and revenue. Economic challenges affecting small businesses and cash flow. Value of a cash cushion as a strategic asset. Importance of pricing strategies and identifying profit pools. Role of external advisors in enhancing financial decision-making and vision clarity.Links:
http://HillCapitalCorp.com
http://BreakoutValuation.com
https://www.linkedin.com/company/hill-capital/
https://www.linkedin.com/in/patrickedonohue/
X: @HillCapitalMN
Facebook: https://www.facebook.com/hillcapitalcorp
YouTube: https://www.youtube.com/channel/UC1i0YR0FviOENu8b9ISDoUQ
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
The Profit-First Approach to Business Scaling with Gary Wilbers
In this episode, we sit down with Gary Wilbers, the founder of The Ascend Mastermind and a seasoned entrepreneur with over 30 years of experience. Gary’s passion lies in helping small business owners find success, balance, and significance through his peer advisory groups. He’s been featured in over 200 podcasts, authored best-selling books, and hosts The Small Business Answer Man podcast.
Beyond his professional achievements, Gary is deeply involved in his community, dedicating his time and resources to Special Olympics Missouri. He served as Past Chairman of the Board and led the capital campaign for a $16.5 million facility for Missouri athletes. One of his favorite pastimes is playing unified golf with Special Olympics athlete Keith Lueckenhoff. Gary and his wife Dana are proud parents to Chris, Adam, and Elle.
In this episode, you will learn the following:
Understanding finances and maintaining cash flow to prevent business failures. Adapt recruitment strategies to attract and keep Generation Z by promoting a positive culture and offering growth opportunities. Continuous communication of the company's vision and purpose to engage employees and reduce turnover. Aligning business goals with personal life objectives to ensure fulfillment and prevent burnout. Implement structured hiring with behavioral interviews and clear job descriptions to avoid emotional and ineffective decisions.Links:
Podcast Website: https://goascend.biz/podcasts/
LinkedIn: https://www.linkedin.com/in/garywilbers/
Twitter: https://twitter.com/GaryWilbers
Facebook: https://www.facebook.com/garywilbers.speaker/
Instagram: https://www.instagram.com/gwilbers/
Youtube: https://www.youtube.com/channel/UCQsAByQnxkwkLlN6v7zhB2g
Website: https://goascend.biz/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Growing to 8 Figures with Josh Hatter
In this episode, we sit down with Josh, a real estate powerhouse who transformed a modest $30k 401k loan into a $10M+ empire through strategic short-term rental investments. With a background in business administration and an MBA from the Moore School of Business, Josh's journey from corporate America to building a $75M+ management portfolio is nothing short of inspiring. We'll dive into his strategic insights, the pivotal moment that led him to real estate, and his mission to empower aspiring investors to build their own legacy and wealth.
In this episode, you will learn the following:
Transition from corporate career to entrepreneurship in real estate and property management. Success in the short-term rental industry and achieving eight-figure revenue. Financial management systems, specifically Profit First and the Entrepreneurial Operating System (EOS). Data-driven decision-making and its role in business growth. Challenges faced during the COVID-19 pandemic and strategies for adaptation. The significance of mentorship and community support in business development. Establishing a nonprofit focused on mentorship in the short-term rental space. The impact of regulations on the short-term rental market. Strategies for maintaining cash flow and financial stability in business. The importance of continuous learning and adapting to market changes.Links:
Facebook: facebook.com/joshuaghatter
Twitter: twitter.com/joshuaghatter
Instagram: Instagram.com/hatterhat
LinkedIn: https://www.linkedin.com/in/joshuahatter/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Creating a Profit Discipline with Chris Papin
In this episode, Chris Papin, Owner and Advisor at Papin CPA, joins us to share his expertise as a seasoned CPA, attorney and insurance producer. With a strong background in accounting and law, Chris offers invaluable advisory services to help businesses navigate complex financial and legal terrains, ensuring both growth and compliance. His innovative insights and client-centered approach make him a trusted guide for businesses aiming for a prosperous future.
In this episode, you will learn the following:
The importance of intentionality in business decisions, particularly in strategic planning and financial management. Insights from Chris Papin on assisting small business owners with complex financial and legal challenges. Common pitfalls in business entity selection and the significance of choosing the right business structure. Real-life examples of the financial repercussions of business decisions, such as the purchase of a luxury pickup truck and the necessity of clear goal-setting and profitability adjustments. Balance between flexibility and sacrifice in business ownership. Value of maintaining sufficient capital reserves for unexpected disruptions. Lessons from sports coaching that can be applied to business management, including understanding boundaries, motivation and effective communication. Critical aspects of managing business decisions and their consequences, with a focus on professional guidance and intentionality. How to prioritize profit over revenue for achieving ultimate life and business success.Links:
LinkedIn: https://www.linkedin.com/in/chrispapin/
Website: https://www.papincpa.com/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Using Profit First to Increase Business Value with Marty Fahncke
In this episode, we sit down with Marty M. Fahncke, a world-class marketer and seasoned expert in growing and scaling businesses. With over 30 years of experience, Marty has been instrumental in helping companies achieve over $1 billion in revenue. He also brings over two decades of expertise in Mergers and Acquisitions, having executed transactions worth more than $450 million. Marty shares insights from his vast experience in the business world, discussing the strategies behind scaling successful enterprises and navigating the complex landscape of M&A.
In this episode, you will learn the following:
Acquisition can quickly double or even quadruple your revenue compared to organic sales growth. Importance of having organized and accurate financial records for maximizing the value of a business. Using a standardized business operating system, such as EOS or Scaling Up, can make your business more efficient and easier to sell. Transitioning to a subscription-based revenue model can significantly enhance the value of a business, as recurring revenue is more stable and predictable. Implementing effective systems and processes in reducing owner dependency.Links:
https://www.westboundroad.com/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Using AI to Market with Lori Highby
In this episode of the Profit Answer Man, Lori Highby, a podcast host, speaker, educator and founder of Keystone Click, a strategic digital marketing agency, shares her vast multi-industry knowledge and experience. Lori’s unique ability to identify and harness the potential within businesses, from Fortune 500 companies like ABB and Syngenta to micro-businesses, has enabled her to help them achieve their marketing goals through strategic, actionable moves.
Lori’s passion for teaching and learning is evident in her professional engagements, where she empowers and educates fellow life-long learners. Outside of her professional life, Lori enjoys playing hockey, brewing beer with her husband Andy, and embarking on long bike rides to test her limits.
In this episode, you will learn the following:
How to unlock customer insights and understand where your audience spends their time online. Identifying customer pain points and researching your competition for easy marketing opportunities. Insights into the Profit First system which simplifies financial management and improves cash flow. The transformative role of AI in marketing and its impact on workflows. Evolving landscape of SEO and the necessity of staying informed in a dynamic digital world. Significance of consumer research, brand awareness and effective use of social media in today’s marketing strategies. Various programs designed to boost business profitability, including DIY courses and personalized CFO services.Links:
LinkedIn: https://www.linkedin.com/in/lorihighby/
Keystone Click website: https://keystoneclick.com/
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Building a Financial Team with Tom Anderson
In this episode, we sit down with Tom, a seasoned business advisor with a career that spans over four decades. Starting in the 1980s at a Big Four international public accounting firm, Tom quickly rose through the ranks to establish his own firm, Anderson Business Advisory Services. His journey continued as he joined Tatum as a CFO Partner in Houston and later transitioned to O’Rourke Petroleum, where he excelled as CFO and eventually became President/COO.
Tom shares his belief that accounting is the language of business, emphasizing how mastering this language can significantly enhance understanding of a company's financial fundamentals. He also opens up about his passion for advising business owners and helping them achieve their visions. Tom's greatest strength lies in his ability to connect with people at all levels of an organization, making him an invaluable asset in any advisory role.
In this episode, you will learn the following:
Importance of understanding the specific financial needs of the business. Comparison to purchasing assets like trucks or machinery (starting at a fraction of capacity and growing to full capacity). Benefits of having an in-house financial role versus renting/outsourcing. Long-term asset suitability versus short-term rental compromises. Building confidence and reassurance with bankers through frequent updates. Proactively addressing potential banker concerns before they arise.Links:
ferguson-alliance.com
Ferguson Alliance - Family Business Consultants & Advisors | Houston (ferguson-alliance.com)
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
Is Your Business Exit Ready with Pete Mohr
In this episode, we're thrilled to have Pete Mohr, an expert dedicated to helping business owners turn their frustrations into freedoms. With over 29 years of experience as a business owner, Pete has honed a range of frameworks designed to cut through the chaos and overwhelm of running a business.
Pete's focus is on helping leaders transition from being operators of their business to becoming true owners. Drawing from his extensive background in service and retail, he shares refined tips, tools, and techniques that enable business owners to implement turnkey solutions and achieve the freedom they deserve.
In this episode, you will learn the following:
Ensuring clarity in all aspects of your business, including processes, people, clients, culture, and financials. Prepare your business to be exit ready, enhancing operational efficiency and future planning, whether or not you plan to sell. Maintaining clean books and documented processes to improve business efficiency and appeal to potential buyers. Building a diversified client list, recurring revenue models, and a strong company culture to enhance business value and attractiveness. Implementing checklists and documented processes to streamline operations, boost efficiency, and prepare for potential sale. Engaging with your community to build a positive reputation and contribute positively as a business owner.Links:
Email: [email protected]
Linkedin: https://www.linkedin.com/in/petemohr/
Instagram: https://www.instagram.com/petesmohr/
Facebook: https://www.facebook.com/SimplifyingEntrepreneurship
Youtube: https://www.youtube.com/@simplifyingentrepreneurship
Website: https://simplifyingentrepreneurship.com/
Other Links if needed:
Twitter: https://twitter.com/SimplifyingE
Website for Shoetopia: https://www.shoetopia.ca/
Business Owner Breakthrough Podcast Links:
Apple: https://podcasts.apple.com/us/podcast/business-owner-breakthrough-podcast/id1567456933
Spotify: https://open.spotify.com/show/6Ptf6BD1wrGWRdf9dlnA9W
Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xNzgwODg2LnJzcw==
Hi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
#profitfirst -
3 Profit Levers with Danielle Hendon
In this episode, we're excited to welcome Danielle Hendon, the founder and owner of 4 Corners CFO, a firm dedicated to providing financial advisory services tailored to the needs and budgets of small business owners. With a decade of experience in corporate finance and accounting, Danielle combines her expertise with a passion for helping people, bringing the benefits of "big business" financial analysis to entrepreneurs.
Join us as Danielle shares her journey from the corporate world to founding 4 Corners CFO, and how she now helps business owners increase their personal livelihoods, leave a legacy, and make a lasting impact on their communities. Tune in for valuable insights and practical strategies to elevate your business finances and achieve your entrepreneurial goals.
In this episode, you will learn the following:
Business owners must be willing to make changes to achieve growth. Understanding and mastering finances is crucial for business success. Utilizing systems like Profit First can help manage finances effectively. Increase profit by raising rates, understanding profit margins, and managing operating expenses effectively. A cash flow forecast is essential to predict and manage financial challenges. Build efficient systems, monitor balance sheets, and optimize cash flow for business success. Seek help from financial experts to improve profitability and financial management.Links:
Listeners can connect with Danielle and download a free resource by visiting the following link: https://4cornerscfo.com/profitanswerman
Website: https://4cornerscfo.com/
Facebook: https://www.facebook.com/4CornersCFO
Instagram: https://www.instagram.com/4cornerscfo/
LinkedIn: https://www.linkedin.com/in/danielle-hendon/
Link to Danielle's One Sheet: https://thepodwizegroup.com/danielle-hendonHi, I'm the Profit Answer Man Rocky Lalvani!
I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike MichalowiczSign up to be notified when the next cohort of the Profit First Experience Course is available!
Check out our website: http://profitcomesfirst.com/
Questions: [email protected]
Email: [email protected]
Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst
Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/
My podcast about living a richer more meaningful life: http://richersoul.com/
Profit First Toolkit: click here to sign up
Music provided by Junan from Junan Podcast
Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
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