Business Cents

What happens to your business if you have to step away unexpectedly—because of a family emergency, a health issue, a key employee leaving, or a major client walking out the door?

In this episode of Business Cents, Lloyd and Melissa introduce the “Two-Week Test”: a simple (but revealing) way to find out whether your business can actually operate without you or another key person. They break down what key person risk looks like in real life, how to identify where your business is overly dependent on one person, and what to document so you’re not scrambling when something changes.

If you’re planning for 2026, this is the resilience check your business needs—before life forces the test for you.

Connect with us:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠Melissa Terito⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

Cash balance plans can be a powerful tax and retirementplanning tool for the right business owner, but they’re more nuanced and more of a commitment than most people realize.

In this episode, Lloyd and Melissa break down how a cashbalance plan works alongside a 401(k)/profit sharing plan, how retroactive setup works, and what it actually takes to implement it correctly with the right providers and compliance steps.

If you’re a high-income business owner with steady cash flowand you’re looking for a way to accelerate retirement savings while lowering taxes, this episode will help you understand whether a cash balance plan is worth exploring and what it truly takes to do it correctly.

(Educational discussion only – please talk to your plan professionals about your specific situation.)

Connect with us:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠Melissa Terito⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

Your retirement plan should be doing more than “existing.” In this episode, Melissa and Lloyd break down employer-sponsored retirement plans in plain English – what they are, why business owners start them, and how plan design can unlock bigger tax savings while still rewarding employees.

We cover the most common setups (401(k)s, SIMPLE IRAs, and cash balance plans), who cash balance plans actually fit (and the required commitment that comes with them), and why so many plans drift into “set it and forget it” mode.

If you’re a business owner with growing profits, hiring needs, or a plan you haven’t reviewed in years – this is your crash course.

(Educational discussion only – please talk to your plan professionals about your specific situation.)

Connect with us:⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠Melissa Terito⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

It’s the holiday finale of Business Cents, and Lloyd Johnson is joined by Ben Vance to help business owners slow down, reflect, and set smarter goals for 2026.

In this episode, they share why year-end reflection matters and why looking back beyond just the last 12 months can reveal bigger wins and clearer patterns. They also unpack common misconceptions that can derail planning, like revenue does not equal profitability, cash does not equal liquidity, and movement does not equal progress.

They break down how buyers and lenders view a business, including the difference between financial and strategic buyers, why predictability drives value, and practical ways to plan your future by working backward from a long-term vision into one-year goals and 90-day sprints.

Wrap up the year with a clearer roadmap and head into 2026 with intention.

Connect with us:⁠⁠⁠⁠⁠⁠

⁠⁠Melissa Terito⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

Ben Vance

Think you can run your business without a budget? Think again.

In this episode of Business Cents, Melissa Terito and Lloyd Johnson tackle one of the least “fun” but most essential parts of running a successful business - creating and sticking to a budget. They break down why budgeting isn’t just about spreadsheets and numbers, but about accountability, clarity, and long-term stability.

Melissa and Lloyd share:
💡 Why “hope” is not a financial strategy

📈 How to start budgeting, even if your company has operated for decades without one

💬 Real-world examples of businesses that thrive because they plan ahead

🧭 Practical steps to set, monitor, and adjust financial goals with confidence

Whether you’re a seasoned business owner or just getting started, this episode will help you move from reactive to intentional when it comes to your finances.

🎙️ Tune in to learn how a well-built budget can help you make smarter decisions, weather uncertainty, and actually hit your goals.

This will be our last episode for a few weeks, but stay tuned for a holiday special coming soon!

Connect with us:⁠⁠⁠⁠

⁠Melissa Terito⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

Think your revenue looks great but your bank account tells a different story? In this episode of Business Cents, Melissa Terito and Lloyd Johnson break down one of the most misunderstood yet most revealing financial reports: the cash flow statement.

Lloyd explains why it’s his favorite financial statement, how it connects to your income statement and balance sheet, and what key numbers reveal about the health of your business. Together, Melissa and Lloyd walk through:

📊 The three types of cash flow (operating, investing, and financing) and what each means

🚩 How to spot red flags that could signal deeper financial issues

💸 Why negative operating cash flow is more than a bad sign; it’s a wake-up call

🧾 Practical ways to track, understand, and act on your cash position each month

Whether you’re a seasoned business owner or just learning to read your financials, this episode will help you see beyond profit and loss and truly understand where your money is going.

Listen in to learn how your cash flow statement tells the real story of your business.

Connect with us:⁠⁠

Melissa Terito⁠

⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠

In this episode of Business Cents, Lloyd Johnson and Melissa Terito break down the essentials of understanding your financial statements, what they are, why they matter, and how to actually use them to make smarter business decisions.

From explaining the difference between cash and accrual accounting to demystifying your P&L, balance sheet, and cash flow statement, Lloyd and Melissa share practical insights that every business owner can apply. They also tackle common misconceptions, share analogies that make accounting concepts click, and offer two actionable steps you can take right now to better understand your numbers.

If you have ever looked at your financials and felt overwhelmed or unsure what they are really telling you, this episode will help you turn those reports into a meaningful roadmap for growth.

Connect with us:⁠⁠⁠⁠

⁠Melissa Terito⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠⁠

Every business owner has heard the term KPI—but how many are actually using them to make smarter, faster decisions? In this episode, Melissa Terito and Lloyd Johnson break down what key performance indicators really mean for your business and how to choose the ones that actually move the needle.

They cover:

• The difference between leading and lagging indicators (and why both matter)
• How to design KPIs that predict success, not just track history
• Turning metrics into accountability and action
• Practical tips for building a consistent rhythm around your data

If you’ve ever wondered what to measure—or how to make your KPIs meaningful—this episode will help you cut through the noise and focus on what truly drives results.

🎧 Tune in for real-world KPI advice you can start using today.

Connect with us:⁠⁠

Melissa Terito⁠

⁠⁠⁠⁠⁠Lloyd Johnson⁠⁠

In this episode of Business Sense, Melissa and Lloyd unpack one of the most powerful concepts from the Entrepreneurial Operating System (EOS) — “Right People, Right Seats.”

Whether you’re leading a growing firm or managing a small team, getting this balance right can transform your culture, clarify accountability, and set your business up for long-term success.
They share how implementing EOS and the book Traction helped their firm move from job titles to accountability, and why defining core values isn’t just an HR exercise — it’s the foundation for every great team.

In this episode:
💡What “Right People, Right Seats” really means — and why it matters

📊 How accountability charts differ from org charts (and why they work)

🏢 Why culture fit and core values are your best hiring tools

🧩 What to do when you have the right person in the wrong seat

✅ Two action items to help you start defining roles and values today

🎧 Tune in to learn how aligning your people with the right seats can create clarity, accountability, and momentum for your entire organization.

Connect with us:
⁠Melissa Terito

⁠⁠Lloyd Johnson⁠

After exploring the art of delegation in the last episode, Melissa and Lloyd take the conversation one step further — into the who, not the how.

Inspired by the book Who Not How by Dan Sullivan and Dr. Benjamin Hardy, this episode challenges the mindset of “How am I going to get this done?” and reframes it to “Who can help me get this done?”

Melissa and Lloyd share how this shift in thinking can unlock growth, reduce overwhelm, and create opportunities for your team to thrive. From real-life firm examples to personal stories, they show how identifying your “who’s” can be a win-win for everyone.

🔑 In this episode:
💡 Why asking “who” instead of “how” can change everything
👥 How to identify the right people to take work off your plate
💬 What “unique ability” really means — and how to find it in your team
🧩 Why the best partnerships are mutually beneficial
✅ Two action items to help you start finding your “who’s” today

🎧 Tune in to learn how building the right team can help you reclaim your time, elevate others, and create more space for growth.

Connect with us:

Melissa Terito

Lloyd Johnson