The Basics of Your Profit & Loss Statement Report Knowing your business numbers all start with you having a basic understanding of how to read your profit and loss income statement. To help you out, I’ve created this free little guide that will help you know how to read the report to understand the flow of money in and out of your business. Get your free guide here: Get the How to Read Your Profit and Loss Income Statement Guide ~~~~ The Local Small Business Coach Podcast is for Local Small ...
Mar 26, 2020•13 min•Ep. 348
Brick & Mortar Businesses Are on My Heart Today The other day I saw a brick and mortar business owner out on the curb trying to pull in business. This virus has really hurt their business. As a former brick and mortar business owner I know how crippling a shut down of your business can be. Especially for those working on very small margins. The CoronaVirus Shut Down is Going to Destroy Many Brick and Mortar Business Owners ~~~~ The Local Small Business Coach Podcast is for Local Small Busine...
Mar 23, 2020•22 min•Ep. 347
Don’t Hire Until Your Run the Numbers! Please avoid the advice to just hire and the sales will come. It is false. You need to have a plan to grow your sales via hiring people. There is a difference. Each new addition to your team should have a strategic plan on what is needed for them to pay for themselves or add additional value to the bottom line. The worse thing you can do is just hire a new team without thinking about all the costs involved. Hiring Can Be Good as Long as You Have a Plan! ~~~...
Mar 19, 2020•14 min•Ep. 346
What to Do While Quarantined to Help Your Business Survive and Come out Strong! If the CoronaVirus has you and your business on the sidelines, you need a business goal. While I can't stop you from panicking about how to pay your bills while sidelined, I can help you create a plan for how you should be spending your time now, so you come out swinging once you are able to get back to business. Let's dive in! ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tir...
Mar 16, 2020•19 min•Ep. 345
What to Do in Your Business When the World is Crazy Every year it seems that something crazy is going on in the world that impacts our business. Today we have a crashing stock market and the CoronaVirus, tomorrow who knows. But how do you use your business numbers to help you ride the wave of sales and profits are bound to be impacted? ~~~~ 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. ...
Mar 12, 2020•17 min•Ep. 344
Beware of Business Advice You Get from Everyone Let’s face it, everyone is full of advice. Some we seek out and some is unsolicited. So, what should you do with all of this advice? Which ones should you listen to and which ones should you avoid? How do you avoid feeling paralyzed from all the advice you’ve received? Today we will discuss a common problem I see with small business owners like yourself and all this free advice you get. ~~~~ The Local Small Business Coach Podcast is for Local Small...
Mar 09, 2020•16 min•Ep. 343
Tell Me Your Favorite Product or Service in Your Business We all have a favorite product or service in our business. Tell me more about yours? In today’s episode, I’ll ask you a series of questions to see just how much you know about your favorite “child” and let’s see if you pass the test. How much do you really know about this special product or service? ~~~~ 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...
Mar 05, 2020•14 min•Ep. 342
Stop Using Pay & Spray Marketing In Your Small Business! Are you using your marketing dollars and ideas wisely? Or are you just shooting at everything and hoping it will stick? Well, you would benefit from stopping to use pay and spray style marketing. You need to focus and target. Text and give time. Use educated guesses to who will use your services and then focus on making it work vs jumping from idea to idea. Today we will discuss what you might be doing wrong. ~~~~ The Local Small Busin...
Mar 02, 2020•17 min•Ep. 341
Looking for Sales Opportunities Everywhere You Go The other day I drove right past an awesome sales opportunity for a local landscaper. I couldn’t wait to share it with him. If we keep our eyes open, there are sales opportunities everywhere and thousands of dollars are waiting for us to pick them up! Sales Opportunities are Everywhere if You're Looking for Them! ~~~~ 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 $1...
Feb 27, 2020•15 min•Ep. 340
Hiring for Your “Why” and Not Just the Job When you hire for your “why” you end up getting an employee who is fired up to help you with your mission. When you hire for the job you get someone who is there for a paycheck. Which type of employee would you prefer? ~~~~ 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, impr...
Feb 24, 2020•13 min•Ep. 339
Gross Profit vs Net Profit Do you know the difference between your gross profit and your net profit? Keep in mind, Sales – COGs – Expenses = Net Profit. Your Gross Profit is before your expenses. Make sure you keep this in mind before you start counting the money you’ve “made”. Net profit is the true measure of how successful you are. ~~~~ 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. E...
Feb 20, 2020•11 min•Ep. 338
If You Confuse You Lose Are You Confusing Your Customers or Clients? If you are giving them way too many options, then you are! Don’t believe me? Think about what happens when someone asks you where you want to go to eat. Too many options cause you not to want to pick something, but given 3 options, you pick quickly. Let’s discuss how you are creating confusion for your customers. Want to dive in deeper? Check out Story Brand by Donald Miller – (Amazon affiliate link) ~~~~ The Local Small Busine...
Feb 17, 2020•21 min•Ep. 337
Your Accountant is Your Business Partner - Start Using Them! If you have or use an accountant or bookkeeper then you want to make sure you are using them to your advantage. Don’t just take what they give you and toss it on the desk. Open it up and sit down with them to understand what your numbers are telling you. They can be a great asset to your team! ~~~~ 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...
Feb 13, 2020•13 min•Ep. 336
Why Every Local Small Business Owner Should Read the eMyth Revisited Why is the eMyth Revisited the #1 book recommended for small business owners? What nuggets are inside that will help you take your business to the next level? In this episode we will take a look at working “on” your business vs just “in”, we will discuss the technician, manager & entrepreneur as well as the concepts of your business going from the infancy stage, through the expansion and maturity stages. All of which are co...
Feb 10, 2020•24 min•Ep. 335
Understanding the Business Owner Experience in Your Small Business When I speak to business owners I have them walk me through their business through their eyes. Here is where I get to see what they see from people, to processes to their numbers. Do they see things through rose-colored glasses or do they see things as they truly are? If you invited someone into your business, what would they find? Let’s discuss why this is important for you to learn how to do this. Can You Look at Your Business ...
Feb 06, 2020•24 min•Ep. 334
Understanding the Customer Experience in Your Small Business One of the most important things you can do in your business is to view it through the eyes of your customer or client. Let’s face it, we are way to close emotionally and will often make excuses for what we see. Today I want to challenge you to take off your business owner hat and “walk” your business through your customer's eyes. What do they see? More importantly, what do they feel? ~~~~ The Local Small Business Coach Podcast is for ...
Feb 03, 2020•27 min•Ep. 333
KYBN: Understanding Your Profit & Loss Detail Now that you are starting to understand your Profit & Loss Income Statements, it is time to start learning more about your P&L detail pages. These pages can be confusing, but they are crucial to understanding the flow of money through your business. We will also discuss why you need a great relationship with your accountant and how you can help each other understand your business better. ~~~~ The Local Small Business Coach Podcast is for ...
Jan 30, 2020•13 min•Ep. 332
A Picture is Worth a Thousand Words You are creating a business of value. You want to stand out over the competition. You want to justify your prices. One of the best tools in your toolbox is a great picture! Today we will discuss how you can use pictures you take during the workday and use them to covey the value your business offers and create some income streams as well! ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want ...
Jan 27, 2020•13 min•Ep. 331
Getting Out of Personal & Business Debt Stop Taking Jobs Just to Pay Your Bills! Having been in debt over 2 million dollars, I understand that being in debt causes us to make decisions in our business that might not be best for the business. We take jobs we shouldn’t and we deal with people we don’t need to. Debt changes how we operate our business, not to mention takes away from the joys that having no debt can bring. How is debt hurting your business? ~~~~ The Local Small Business Coach Po...
Jan 23, 2020•21 min•Ep. 330
Stop Thinking Like a Victim in Your Business Time for our bi-annual attitude check. Your success in your business has a trajectory that is tied to your attitude and how you show up each day. Having a victim mentality is not going to help you achieve your goals. Celebrate those wins and have those 5-minute pity parties, you can have both! But Stop Being a Victim! ~~~~ 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 $1...
Jan 20, 2020•22 min•Ep. 329
KYBN: Where Are Your Sales Coming From? Let’s take a look at your income sources and why it is important for you to break them out on your profit and loss statement. There is hidden information to help you grow not just your sales, but more importantly, your profits! ~~~~ 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...
Jan 16, 2020•22 min•Ep. 328
Turning Around the Family Business Today we tackle a question on turning around the family business when the founder happens to be your dad and doesn’t think anything needs to change. How do you go about making the changes to stop the bleeding and then take the business to the next level? ~~~~ 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 pro...
Jan 13, 2020•34 min•Ep. 327
KYBN: Diving into Your Numbers Last Year As we close out the books on last year, it is time to grab those P&Ls and start diving in to look for the wins and losses for the year. Not just year totals, but also month totals. ~~~~ 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 stron...
Jan 09, 2020•10 min•Ep. 326
FAN FAVORITE: 17 Ways to Increase Your Profits Something came up that prevented me from recording a new episode, but here is a fan favorite from last year that is bound to give you some good ideas on increasing your profits! ~~~~ 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 strong...
Jan 06, 2020•38 min
Do This to Help Make Your Business Numbers Make Sense As you start to improve your knowledge of your business knowledge, you will want to make sure your Profit & Loss Statement is set up the correct way. You will want to make sure the categories are correct and ensure that the right items are captured under your cost of goods & expenses. Whether you do your bookkeeping or hire someone to do it for you, you will want to get this done asap! ~~~~ The Local Small Business Coach Podcast is fo...
Jan 02, 2020•16 min•Ep. 325
What Stood Out This Year What Stood Out This Year Doing the Podcast & Coaching Sessions with Local Business Owners | As we close out another year, I thought I’d share a few of the things that stood out to me and how we can use the information for the new year. ~~~~ 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, i...
Dec 30, 2019•24 min•Ep. 324
You Have the Ability to Understand Your Business Numbers! Stop telling yourself that you just don’t understand numbers or math! You have the ability to learn. You just have had the wrong teachers/mentors in your life! Everyone has the ability to understand their numbers if they just ask better questions and seek out the best teachers for their style of learning. Stop making excuses! ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job ...
Dec 26, 2019•17 min•Ep. 323
5 Things to Work on When Business is Slower When you bust your butt all year, your brain automatically wants to rest when business slows down. The problem is, this is a great time to knock out all those things that you should be working on but never have time. Today we will take a look at how you can maximize this time and just a few of the things that you can work on to get a good jump start on the upcoming busy time. ~~~~ The Local Small Business Coach Podcast is for Local Small Business Owner...
Dec 23, 2019•20 min•Ep. 322
KYBN: Do You Have Money Laying Around in Your Business? Do you know how much money you have tied up in your inventory? It might be more than you think. Especially if you have a business that carries multiple versions of something. Do you have a garage full of products from old jobs? Is your truck full of parts? How much money do you have tied up in your 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 $...
Dec 19, 2019•19 min•Ep. 321
Does Your Business Grab Their Eyeballs? How Can You Grab Your Potential Customer's Attention? Whether it is your website or a wrap on your vehicle, you want to make sure that your business is the first one to come to mind when they finally need a business like yours! ~~~~ 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...
Dec 16, 2019•16 min•Ep. 320
