Breaking Down Revenue on Your Profit & Loss Statement In today’s episode: In this week's episode of the Know Your Business Numbers Series, I want to share why I think you need to break down your sales/revenue categories on your income statement. By looking at each core area of your sales, you can gain a lot of intel on where you should be focusing your energy and time to grow your sales, but also on where to grow your profits. Information is power and there are a lot of opportunities that ca...
May 16, 2019•16 min•Ep. 259
Too Busy to Work "ON" the Business vs Just "IN" the Business In today’s episode: What if You Are Just Too Busy to Do Anything Else When Your Hair is On Fire and Business Is Going Crazy? When all the time you have is trying to stay afloat and keep things going? Is it ok that you don’t have the time to work “ON” the business since all you seem to be doing is working “IN” the business? ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job ...
May 13, 2019•23 min•Ep. 258
Are You Leveraging Your ROI? In today’s episode: Why Do You Need to Know Your Return on Your Investment? Everything you do is tied to ROI. When you invest your time & money into your systems, people, programs, advertising, etc., you want to make sure you are getting the right ROI. Too many small business owners just look at how long something will take or how much it will cost without realizing they will make way more money in the long run if they would just calculate out the ROI. Take a lis...
May 09, 2019•18 min•Ep. 257
What You Could Learn from Jack Welch on Leading Your Team In today’s episode: Jack Welch was one of the greatest CEOs who believed strongly in the power of developing a great team around him. Every small business owner should look at what Jack Welch believed in and how they can work the same mentality into how they build their team. What he a perfect leader? No, but there was a lot that he did right and what he did with General Electric was achieved through his vision of strong leadership. Somet...
May 06, 2019•18 min•Ep. 256
Calculating Out Gross Margin In today’s episode: Figuring Out Your Gross Margin Percentage is a Simple Calculation You Should Be Doing on Each of Your Products and Services as Well as for Your Business Overall. Without this knowledge, you are flying by the seat of your pants and “hoping” you guess right. This is one number you MUST know and it is easy to do, so let's take a look at how and why. ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living...
May 02, 2019•15 min•Ep. 255
Stop Shooting Yourself in the Foot! In today’s episode: Stop Shooting Yourself in the Foot!! | You Are Your Own Worst Enemy & You Are Costing Yourself Sales, Profits and Customers! I'll share the story of 3 different business owners this past week that are shooting themselves in the foot and yet still wonder why they are losing business. QUOTE OF THE WEEK: “Your attitude, not your aptitude, will determine your altitude” – Zig Ziglar ~~~~ The Local Small Business Coach Podcast is for Local Sm...
Apr 29, 2019•23 min•Ep. 254
Understanding Your Profit and Loss Statement In today’s episode: The cornerstone of knowing your business numbers begins with your business report card – Your Profit & Loss Statement. It is important that you know some of the key areas you should be looking at each month. Let’s walk through a typical P & L statement and how you can use to understand your profitability. Increase Your Profits by Understanding Your Business Numbers QUOTE OF THE WEEK: “Fears are nothing more than a state of ...
Apr 25, 2019•23 min•Ep. 253
4 Fears Holding You Back | Fear of Failure | Fear of Success | Fear of Finding Out | Fear of Looking Stupid In today’s episode: We take a look at 4 common fears that prevent people from taking the next steps in their business. Not everything is a fear of failure. While yes, it is a common one, it isn’t the only one that holds people back. Let’s take a look at a few others tend to hold folks back. QUOTE OF THE WEEK: “Fears are nothing more than a state of mind” – Napoleon Hill ~~~~ The Local Smal...
Apr 22, 2019•23 min•Ep. 252
What is Your Business's Breakeven Point? EPISODE 251 of The Local Small Business Coach Podcast In today’s episode: Do you know what your sales need to be to Breakeven? If you are like most business owners, you don’t. However, this is one of the most important numbers you need to know. Especially if you have a seasonal business. Your Breakeven point is where the sales you produce allow you to pay for your cost of goods plus any expenses you have. Let’s take a deeper dive to help you understand th...
Apr 18, 2019•24 min•Ep. 251
9 Lessons I Learned from My Ice Cream Shop EPISODE 250 of The Local Small Business Coach Podcast In today’s episode: Lessons to Share from My Business to Yours | Going from Corporate American to Local Business Owner was an interesting transition. During my 5 years of owning my ice cream shop, I learned a few things that every future small business owner making the transition, will probably learn as well. QUOTE OF THE WEEK: “Life is a succession of lessons which must be lived to be understood” – ...
Apr 15, 2019•31 min•Ep. 250
How to Find Money Laying Around EPISODE 249 of The Local Small Business Coach Podcast In today’s episode: How to Find Money Laying Around | Time for You to Address the Inventory You Are Sitting On – One area that many business owners fail to realize is keeping them cash poor is the inventory that they are sitting on. Product that is sitting on shelves, in boxes in a bedroom, out in the shed or garage or even a storage locker is money sitting there that could be better spent in the business. Let’...
Apr 11, 2019•25 min•Ep. 249
Having Boundaries for Family Owned Businesses EPISODE 248 of The Local Small Business Coach Podcast In today’s episode: Having Boundaries for Family Owned Businesses | Why Most Family Businesses Struggle & Fail – I’ll share with you a recent email I received from a business owner who is struggling with his family business and we will go over why having boundaries are key to success. We will also discuss why having a mission/vision will be crucial as you pass down the business through the gen...
Apr 08, 2019•31 min•Ep. 248
Find a Need and Fill It! EPISODE 247 of The Local Small Business Coach Podcast In today’s episode: What Local Small Business Does Your Community Need? Our communities have needs all the time. Maybe yours is like mine, in desperate need of a mover? Or maybe a handyman that specializes in manufactured homes? Maybe someone that focuses on 55+ communities. There is a need in your community, and you have the ability to solve it. This is the best way for you to grow your business! ~~~~ The Local Small...
Apr 04, 2019•16 min•Ep. 247
Markup vs Margin - Why Your Local Small Business Might Be Missing Your Margin Goal EPISODE 246 of The Local Small Business Coach Podcast In today’s episode: Markup vs Margin - Why Your Local Small Business Might Be Missing Your Margin Goal When making pricing decisions for your products or services, do you tend to assign a dollar amount to the costs to determine how much you plan to mark them up or do you have a certain percentage that you use? A big mistake that some business owners make is the...
Apr 01, 2019•20 min•Ep. 246
BONUS EPISODE: You Don't Have to Be Alone! Even Badass Business Owners have times in their business where they feel they have no one to turn to, no one that will understand. That isn't true. There are others going through what you are right now. I encourage you to reach out to me if you need. ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want to get to $100,000 in personal income. Each episode we discuss how to increase your...
Mar 28, 2019•7 min
EPISODE 245 of The Local Small Business Coach Podcast WHY DO YOU DO WHAT YOU DO? In today’s episode: Are You a Badass Business Owner? Of Course You Are! Badass Business Owners Do What it Takes to Build Their Dream. They get knocked down, they get back up. They identify the worst case scenario but focus on the possibilities. They have a can do attitude that pushes them forward to create something amazing. They dig deep and find their power when they need it. Are You a Badass Business Owner? Take ...
Mar 25, 2019•21 min•Ep. 245
EPISODE 244 of The Local Small Business Coach Podcast WHY DO YOU DO WHAT YOU DO? In today’s episode: We all need to have a “why”. Our “why” is what motivates us and keeps us on track for our mission, our passion. On this episode, we will take a look at why you want to know your “why” and how it can help keep you on track for your business goals and your personal journey. QUOTE OF THE WEEK: “The most difficult thing is the decision to act, the rest is merely tenacity.” -- Amelia Earhart ~~~~ The ...
Mar 18, 2019•16 min•Ep. 244
EPISODE 243 of The Local Small Business Coach Podcast When to Be a Coach, Cheerleader or Mentor In today’s episode: We all need three people in our life: a Coach, a Cheerleader & a Mentor. However, we are also all three to others as well. Each one plays a different role. One kicks us in the pants and provides direction, one picks us up and cheers us on to accomplish amazing things even when we have no shot and the other is our sounding board and whose advice we truly appreciate. Let’s take a...
Mar 14, 2019•11 min•Ep. 243
EPISODE 242 of The Local Small Business Coach Podcast Hiring that First Employee In today’s episode: It is always scary to hire that first employee. You wonder how do you know what to set up to make it legal, if you will find the right person, and what steps do you take once you find them? In this episode, we will take a look at all 3 of those buckets. Here are some of the highlights we will discuss: Finding the Right Person Don’t Settle - Start Looking Now even if not Hiring Now Company Culture...
Mar 11, 2019•33 min•Ep. 242
EPISODE 241 of The Local Small Business Coach Podcast Don't Assume Your Customers Know What to Do Next In today’s episode: A big mistake that business owners make is, they assume their customers know the next step in the decision-making process. When folks don’t know what to do, they tend to do nothing. We assume they do since we have done this a million times but for many customers, it is their first. Let’s discuss how you need to look at your processes through the eyes of your customers. ~~~~ ...
Mar 07, 2019•10 min•Ep. 241
EPISODE 240 of The Local Small Business Coach Podcast I'm a Dum Dum! Are You? In today’s episode: Why Didn't I Catch This Earlier? Over the past couple of weeks, I’ve discovered two big issues with my website and podcast. Both of which, should have been caught way earlier. By not finding and resolving them sooner, I have missed out on possible leads. So in today’s episode, we are going to discuss what dumb things you might be missing as well and costing your potential leads and business. ~~~~ Th...
Mar 04, 2019•19 min•Ep. 240
BONUS: 2 Quick Great Business Best Practices In today’s episode: We will take a look at 2 great practices that I came across in some other podcasts. I thought They would be great for all of you to hear as well. Ideas for Finding Good People & Repeat Business ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want to get to $100,000 in personal income. Each episode we discuss how to increase your profits, boost your sales, imp...
Feb 28, 2019•8 min
EPISODE 239 of The Local Small Business Coach Podcast Getting Your Business Ready for a Possible Recession In today’s episode: With a strong economy, low unemployment and record stock markets, everyone worries about the bottom falling out. We have an election coming soon and a lot of political unrest. Talk is out there of a possible recession on the horizon. So what does this mean for you and your business? What can you do now, to get your business ready for a possible recession? Today we will d...
Feb 25, 2019•47 min•Ep. 239
EPISODE 238 of The Local Small Business Coach Podcast Close Down Your Business or Pivot? In today’s episode: Do you feel like you are failing in your business? Do you feel paralyzed and not sure what to do next? When we are struggling in our business, we need to step back and ask ourselves if it is time to close the business or just pivot. We need to stop feeling like a failure and start putting in place a plan of action to get into a better place both personally and in your business. QUOTE OF T...
Feb 18, 2019•44 min•Ep. 238
EPISODE 237 of The Local Small Business Coach Podcast Why I Believe You Can Earn $100,000 in Profits in Your Business In today’s episode: Why I Believe You Can Earn $100,000 in Profits in Your Business! Every local business has the ability to create a 6-figure income for the owner. Do you have what it takes? Let's discuss the roadblocks preventing you from hitting this goal I am extremely passionate that local business owners can earn $100,000 in take home profits if they desire. What prevents m...
Feb 11, 2019•38 min•Ep. 237
EPISODE 236 of The Local Small Business Coach Podcast What the Pareto Principle Means in Your Business In today’s episode: Many of us are familiar with the Pareto Principle otherwise known as the 80/20 rule. This rule can be used in many ways when looking at your business. For example, 80% of your sales come from a core 20% of your customers (or leads). It could also mean that 20% of your processes result in 80% of your results. By using the 80/20 rule, you can take almost any situation and focu...
Feb 04, 2019•17 min•Ep. 236
EPISODE 235 of The Local Small Business Coach Podcast How to Handle Minimum Wage Increases & Your Profitability In today’s episode: With minimum wage creeping up in many areas and the push to get to a $15 an hour minimum wage, it is important that as a local business owner that you are prepared on how to offset this hit to your profitability. Let’s take a look at some of the options that you have. Plus, we will discuss a gameplan to start getting ready for the $15 an hour that is sure to com...
Jan 28, 2019•24 min•Ep. 235
EPISODE 234 of The Local Small Business Coach Podcast Quit Passing Along Those Credit Card Fees In today’s episode: Credit card fees are a cost of doing business. Why are you penalizing your customers who don't have checks or carry cash? Why Are You Risking Losing Your Customers? Is a $3 fee worth losing them over? Let's discuss ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want to get to $100,000 in personal income. Each ep...
Jan 24, 2019•8 min•Ep. 234
EPISODE 233 of The Local Small Business Coach Podcast Do Your Employees Suck? In today’s episode: Do your employees suck? Is it them or is it you? Employees suck because: you hire them wrong, you fail to train them, you fail to communicate with them, or you don't treat them well. Sure, they have no skin in the game, but they can be passionate about your vision and your business. They do this by feeling part of the team. Let’s discuss the most common reasons that your employees might suck. QUOTE ...
Jan 21, 2019•30 min•Ep. 233
Have you ever thought about turning off the music and only filling your ears with audio that motivates, inspires and has some type of business knowledge for you to grow your business and your mind? ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want to get to $100,000 in personal income. Each episode we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams. HELPFUL LINKS Cou...
Jan 17, 2019•9 min
