Default Profitable

Default Profitable

By Matt NettletonBusinessEntrepreneurship
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Default Profitable episodes

  • Ep132 Jeff Farren How to Buy a Business
    In this episode, Matt Nettleton and Jeff Farren discuss the intricacies of buying and selling businesses. They explore the motivations behind purchasing a business, the transition from employee to owner, and the importance of financial transparency. Jeff shares insights on identifying good business opportunities, evaluating customer relationships, and understanding the risks associated with sales concentration. The conversation emphasizes the emotional challenges of entrepreneurship and the necessity of clear communication and documentation during the buying process.
     
    takeaways
    • The entrepreneurial spirit drives many to consider buying a business.
    • Buying an existing business can provide a strong foundation for growth.
    • Transitioning from employee to business owner requires a significant mindset shift.
    • Stable and predictable cash flows are crucial for business valuation.
    • Financial transparency is essential for successful business transactions.
    • Customer relationships and satisfaction metrics are key to business stability.
    • Sales concentration can pose significant risks to business valuation.
    • Clear expectations and communication are vital when the previous owner stays on post-sale.
    • Entrepreneurship involves emotional and mental resilience.
    • Meeting payroll is a significant stressor for business owners.

      • You can learn more about Jeff on LinkedIn https://www.linkedin.com/in/jefffarren/ or his company website http://www.accretivevalue.com/ to contact Jeff call him 317-513-4016 or send an email [email protected]

       

      Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built


      25 min
    • Ep131 Ray Mills CEO RM Media
      In this episode of the Default Profitable Podcast, host Matt Nettleton interviews Ray Mills, a seasoned video producer and entrepreneur. Ray shares his journey from working in a Christian organization for 20 years to becoming the owner of RM Media, a video production company. He discusses the challenges he faced while transitioning from a stable job to entrepreneurship, the importance of networking and mentorship, and the lessons he learned along the way. Ray emphasizes the significance of making video content in today's digital landscape and encourages aspiring filmmakers to pursue their passions.
       
      takeaways
      • Ray Mills transitioned from a 20-year career in a Christian organization to filmmaking.
      • He founded RM Media as a side hustle before going full-time.
      • Networking and mentorship are crucial for success in business.
      • Ray emphasizes the importance of making video content.
      • He wishes he had a business background and a partner when starting.
      • The creative world differs significantly from the business world.
      • Ray encourages aspiring entrepreneurs to start sooner.
      • He learned valuable lessons from his early challenges.
      • Ray's experience highlights the importance of adaptability.
      • He finds satisfaction in helping clients succeed through video.

        • You can connect with Ray on linkedin https://www.linkedin.com/in/raymills/ or at his company website https://www.raymillsmedia.com/ 

         

        Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built

        24 min
      • Ep130 Jen Edds, Head Broad in Charge at Brassy Broadcasting

        In this episode of the Default Profitable Podcast, host Matt Nettleton interviews Jen Edds, the head of Brassy Broadcasting Company. They discuss Jen's journey from a corporate job to starting her own podcasting business, the importance of clarity in identifying ideal clients, and the significance of community in the podcasting world. Jen shares valuable insights on navigating the podcasting landscape, feeding souls instead of algorithms, and the importance of networking.

        As the founder of The Brassy Broadcasting Company, Jen helps business owners craft podcasts that forge relationships. She’s a relentless experimenter, a passionate educator, and a firm believer that the best podcasts aren’t just heard—they’re felt.

        Jen had a couple of book recommendations, The Practice: Shipping Creative Work by Seth Godin and Happiness Become You: A Guide to Changing Your Life for Good by Tina Turner

        Here are some ways to connect with Jen

        Website: https://brassybroad.com/

        LinkedIn: https://www.linkedin.com/in/jen-edds-470351b/ 

        Instagram: @brassybroadjen https://www.instagram.com/brassybroadjen/?hl=en

        YouTube: https://www.youtube.com/BrassyBroadJen 

        Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built

        22 min
      • Ep129 Michael Salemi, Co Owner, Colored Threads

        In this episode of the Default Profitable Podcast, host Matt Nettleton speaks with Michael Salemi, co-owner of Colored Threads, about his journey from corporate America to entrepreneurship. Michael shares insights on the challenges of starting a business, the importance of patience, and the evolution of their business plan. He emphasizes the need for mentorship and the significance of building relationships in business. The conversation highlights the realities of entrepreneurship, including financial struggles and the necessity of adaptability.


        You can learn more about Michael on LinkedIn https://www.linkedin.com/in/michael-salemi-40b54b16/ or his company website http://www.colored-threads.com/ 

        26 min
      • Ep128 Jessica Roosa, Founder, This Old Farm
        In this episode of the Default Profitable Podcast, host Matt Nettleton interviews Jessica Roosa, a first-generation farmer and meat processor. Jessica shares her journey from being a chemist to starting her own business in meat processing and sales, focusing on natural foods and supporting local farmers. She discusses the challenges and failures she faced in her farming journey, the importance of having a business plan, and the evolution of her passion for agriculture. Jessica emphasizes the significance of mentorship, continuous growth, and understanding consumer needs in the food industry.
         
        takeaways
        • Jessica is a first-generation farmer and meat processor.
        • She transitioned from a career in chemistry to farming to incorporate her children into her work.
        • Jessica emphasizes the importance of learning from failures in farming.
        • She advises aspiring farmers to have a solid business plan before starting.
        • Passion for agriculture drives Jessica's work in providing good food.
        • Consumer awareness of local and organic food has increased significantly.
        • Mentorship is crucial for new farmers to gain knowledge and skills.
        • Continuous personal growth and leadership are essential for business success.
        • Jessica's business focuses on supporting local farmers and providing quality meat.
        • The conversation around food and farming has evolved over the years, becoming more mainstream.

          • You can learn more about Jessica on LinkedIn https://www.linkedin.com/in/jessica-roosa-bb462820/ or her company's website http://www.thisoldfarm.com/ 

           

          Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built

          25 min
        • Ep127 Maggie and Derek Higgins, Owners Hometown Roofing
          In this episode of the Default Profitable podcast, host Matt Nettleton speaks with Derek and Maggie Higgins, a couple who run a successful roofing business together. They share their journey from education majors to entrepreneurs, discussing the challenges and successes they faced along the way. The conversation covers the importance of passion over profit, the lessons learned in starting a business, and the significance of investing in people and establishing a strong online presence. Derek and Maggie emphasize the need for strategic planning and the value of having a solid support team, including legal and financial advisors.
           
          takeaways
          • Derek and Maggie transitioned from education majors to business owners.
          • They emphasize the importance of passion over profit in their business.
          • Starting a business requires commitment and a willingness to take risks.
          • Proper planning and legal considerations are crucial when starting a business.
          • Investing in a good CRM can streamline operations significantly.
          • Establishing an online presence is essential for growth.
          • Taking care of employees leads to better returns for the business.
          • The couple's journey involved turning their living room into a multi-state operation.
          • They advise against cutting corners on legal and financial advice.
          • A strong company culture is built by investing in people.

            • The best way to learn about Derek, Maggie and Hoetwon roofing is their website https://hometownrfg.com/ 

            Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built

            22 min
          • Ep126 Phil Shumacher, Owner & Contracting Plumber, Prime Plumbing and Drains

            In this episode of the Default Profitable podcast, host Matt Nettleton interviews Phil Schumacher, a plumbing entrepreneur who shares his journey from a career in criminal justice to starting his own plumbing business. Phil is someone who truly understands the power of integrity and expertise in the service industry. As the leader of Prime Plumbing & Drains, they’ve built a company known for ethical business practices, high-quality workmanship, and a refreshing no-BS approach to plumbing. Whether you’re a homeowner, a business owner, or someone who just wants to hear what it takes to build a thriving service-based company, you’re in for a great conversation today. Let’s dive in!

            Takeaways

            • Planning and preparation were crucial before launching his business.
            • Phil's initial plan was about 50% accurate in hindsight.
            • Employee training and values are essential for business success.
            • Phil aims for his work to reflect pride and quality.
            • His business reputation is tied to his family's name.

              • You can learn more about Phil on LinkedIn https://www.linkedin.com/in/philip-schumacher-32606a91/ or his company website https://primeplumbingdrains.com/ 

              21 min
            • Ep125 Travis Brown, Founder + Fractional CMO, MOJO Up
              In this episode of the Default Profitable podcast, host Matt Nettleton speaks with Travis Brown, CEO and founder of Mojo Marketing and Media. They discuss the challenges and successes of starting a creative business, the importance of having a solid plan, and the lessons learned from navigating the entrepreneurial landscape. Travis shares his journey from the mortgage industry and motivational speaking to establishing his marketing agency, emphasizing the need for self-awareness, understanding team dynamics, and the significance of patience in achieving profitability. The conversation also touches on the realities of remote work and the essential advice for aspiring entrepreneurs.
              takeaways
              • Travis Brown shares his journey of starting Mojo Marketing and Media.
              • The importance of balancing family life and business responsibilities.
              • Starting a business during COVID presented unique challenges.
              • Self-awareness is crucial for recognizing strengths and weaknesses.
              • Hiring a fractional CFO helped Travis understand financials better.
              • Many entrepreneurs lack a comprehensive business plan before starting.
              • Understanding client acquisition is vital for business success.
              • Remote work can hinder collaboration and efficiency for some individuals.
              • Patience and profitability should be prioritized in business growth.
              • Building a strong team is essential for long-term success.

                • you can learn more about Travis and his company on linkedin https://www.linkedin.com/in/travisjaydenbrown/ or his company website https://mojoup.com/ 

                25 min
              • Ep124 Jeff Godby Godby Home Furnishings
                In this episode of the Default Profitable Podcast, host Matt Nettleton speaks with Jeff Godby, owner of Godby Home Furnishings, about the journey of running a family-owned business. Jeff shares insights on transitioning leadership, the importance of company culture, and the challenges of maintaining profitability in a competitive market. He emphasizes the value of showing up, taking risks, and treating employees well, while also discussing the significance of community support and the realities of entrepreneurship.
                takeaways
                • Jeff Godby is the second-generation owner of Godby Home Furnishings.
                • The business started with a $5,000 investment and has grown to $40 million in sales.
                • Transitioning leadership in a family business can be challenging but necessary.
                • Company culture is crucial for employee retention and satisfaction.
                • Showing up consistently is key to business success.
                • Profit is essential for sustainability and should not be viewed negatively.
                • Community involvement is important for local businesses.
                • Hiring trustworthy employees allows for effective delegation.
                • Navigating external challenges is a significant part of running a business.
                • The American dream is alive through entrepreneurship.

                  • You can learn more about Jeff at his ompany website https://www.godbyhomefurnishings.com/ 

                  18 min
                • Ep123 Joel Sheets Partner Black Tie Builders

                  In this episode of the Default Profitable podcast, host Matt Nettleton speaks with Joel Sheets, co-owner of Black Tie Builders, about his journey in the home services industry. Joel shares insights on starting and growing a home remodeling business, the importance of passion in work, and the lessons learned from scaling a business. He emphasizes the significance of financial management, building strong relationships with contractors, and the value of education for aspiring entrepreneurs. The conversation highlights the balance between work and family life, and the desire to create a fulfilling business that allows for quality time with loved ones.

                   

                  You can learn more about Joel on Linkedin https://www.linkedin.com/in/joelsheets/ or his company website https://www.blacktiebuilders.com/

                   

                  Subscribe to the Default Profitable podcast on your favorite podcast platform or visit http://defaultprofitable.com for 100+ episodes about how Indianapolis businesses get built

                  22 min

                About Default Profitable

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                Are you an aspiring entrepreneur or a seasoned business owner looking to sharpen your skills and grow your business? The Default Profitable podcast delivers powerful lessons from real bootstrapped…