Fundamental Entrepreneur

Feeling stuck in the corporate world? Are you showing signs of success on the outside but deep down you are discouraged, frustrated, and feeling you are missing something?

Today we are joined by Renee Dominguez the founder of Empowered LeadHERship to learn about her entrepreneurial story. From the outside, Renee looked successful as she was climbing the corporate ladder; however, on the inside she was a "hot mess".

Renee shares how her journey began by circumstance...during an unfortunate negative meeting with her boss that drove her to quit her job on the spot. From this negative meeting, Renee's journey began.

Her journey has taught her that you can't wait for the perfect time to make a move and that the reason we wait to make a change in our lives or our careers is because of fear. From this experience she can powerfully teach her clients to listen and follow their intuition.

Throughout this podcast Renee shares some incredible advice the will help any entrepreneur. Her journey is remarkable and will empowering you as you listen.

Here is more about Renee:

Renee is the founder of Empowered LeadHERship, a company dedicated to providing personal development and business training to female leaders and entrepreneurs who are ready to AWAKEN THEIR FULL POTENTIAL.

Renee specializes in supporting high performers…UNCOVER THEIR TRUE PURPOSE AND STEP INTO BECOMING UNAPOLOGETIC LEADERS…by taking charge of their confidence and communication skills to go from surviving to thriving.

Renee has worked with thousands of people, helping them take charge of their confidence and communication skills, create purposeful businesses, location-free, by using powerful mindset changing tools and cutting-edge business development strategies.

Renee’s passion for helping others achieve extensive financial and personal abundance is powered by a vision…WHERE EVERY WOMAN FEELS EMPOWERED TO STEP INTO HER WORTH AND OWN IT

Renee is a true thought leader in her industry — not only in personal growth but also in creating success for her clients. She’s also here to disrupt the status quo of what you perceive to be ‘normal’ — and help you break free of old archaic systems.

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To connect with Renee and learn more about what she can offer, check at her website:

https://www.empoweredleadhership.com/ (https://www.empoweredleadhership.com/)

You can also find her on Instagram: @empoweredcoach

https://www.instagram.com/empoweredcoach/ (https://www.instagram.com/empoweredcoach/)

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

The 2021 tax filing season is over (unless you filed an extension). Can we get a big HOORAY!!!

Every tax season allows us an opportunity to meet with our clients and talk to them about their business...and of course everyone's favorite topic TAXES!!! This time of year also gives us a chance to see both the good and bad (sometimes even ugly) things other entrepreneurs are doing, with the hope we can help navigate them away from the bad (and ugly) things.

After each tax season, there is much to reflect on (more than just why taxes suck so bad) and to learn from. Allowing us to prepare a game plan to help clients be more successful and pay less tax.

Today we want to share with you some of those reflections and discuss some of the questions we often get asked as we meet with our clients.

Looking for ways to lower your taxes? Want to know more about Profit First Professionals and how they can help your in business? Want to avoid tax season mistakes we saw other make this past year?

These are some of the topics we discuss as we reflect upon this past tax season.

Big thank you to Jaylynn Nash for joining us today and taking on the responsibility to ask Darin these and other questions.

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

In this segment of "This is Their Story", we are joined by Ruben Galaviz, the founder and owner of RG Transportation Inc. Like every entrepreneur that has shared their story on this podcast, Ruben's journey is unique...yet a powerful learning opportunity for all of us.

Ruben immigrated to the United States from Mexico many years ago. Like many entrepreneurs he began his career working for someone else. However, he always had a desire to start his own business. When a fellow coworker presented him with an opportunity to do just that, Ruben took the leap.

We can all learn something from Ruben's story and the advice he shares, especially those who are considering the entrepreneurial road but are hesitant to move forward because they don't have everything figured out. As Ruben shares his story, you will learn how he was able to grow his company from one truck to nearly a 50 truck operation, despite not knowing everything and facing an audit from a governmental entity that nearly sunken his business.

Hard work, effort, and a willingness to keep going when things are tough are what Ruben has exemplified during his journey and he believes are the keys to success for every entrepreneur.

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

Every dollar you spend in your business should provide you with a return greater than what you spent.

Today we dive into the concept of return on investment (ROI) as it relates to your business expenses. And just to keep it real, we turn a brain fart into brain fluff, lol!

Are you spending just to spend? Are you spending to impress “others”? Not sure if the money you are spending is providing a return to you and your business?

Today’s episode may just be the swift kick in the pants you need to make sure every dollar you spend benefits your bottom line.

Not sure how to calculate ROI? Here is the quick formula.

ROI = (Net Return / Cost of Investment) x 100

Example: You are considering investing in a $150,000 piece of equipment as a new service offering in your business. You anticipate the demand for this new service to be 15 services per month at $500 each ($7,500 revenue). If you finance the equipment, the monthly loan payment would be $2,500. You will need to pay an employee for 1 hour each service at a total hourly rate of $20/hr (15 x 20 = $300).

Step 1 – calculate net return = total revenue – total expenses

Net Return = $7,500 - $2,500 - $300 = $4,700

Step 2: Divide the net return by the cost of the investment, and multiply that number by 100.

ROI = ($4,700 / $2,800) x 100 = 167%

A 167% ROI is a positive return on investment and is in fact a fantastic return.

Remember that ROI is not always about the dollar. Other types of ROI could include greater efficiency, time improvement, or employee moral improvement.

At the end of the day, our goal is to help you keep more money in your pocket to reward you for all the time and love you pour into your business and the risks you take on to build it.

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If you need support on improving your business’ ROI, reach out, we are here to help!

Contact us at https://procenac.com/contact/ (https://procenac.com/contact/)

Or DM us on Instragram or Facebook @procenac

Many of us equate entrepreneurship with freedom...freedom to control your time, your decisions, and ultimately your destiny.

Today we are joined by an entrepreneur who exemplifies this entrepreneurial spirit. Derek Videll, founder of Social Bamboo and the host of the Social Bamboo Podcast, joins us to share his story on our segment "This is Their Story".

Are you ready to take control of your future and your career? Derek's story may just be the catalyst you need to get the ball rolling.

Derek's story, like him, is full of energy and drive. Worried about failing? Derek doesn't like the word failure because he sees "failure" as an opportunity to learn and move forward.

We have all heard the cliche "Never Give Up". Listen in as Derek explains how you must truly push through this cliche and let it play out in your journey (or life) so you can unlock new levels of control in life.

Remember, everything is hard before it gets easy and if something is important to you it doesn't matter how long it will take to accomplish, are all morsels of advice Derek shares in this podcast.

To learn more about Derek and gain access to the free course he mentions, check out:

https://www.socialbamboo.com (https://www.socialbamboo.com)

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

As Profit First professionals, we love talking about profits, and we love helping businesses maximize their profits. Creating a profitable company doesn't happen by chance. It requires focus, dedication, and effort.

Harvard professor Michael Porter states, "If your goal is anything but profitability - if it's to be big, or to grow fast, or to become a technology leader - you'll hit problems." True? We think so because when our focus shifts away from profits, then our decisions as savvy entrepreneurs are based on superficial desires and often irrational expectations. Bottom line...we fail to consider how the decision will impact profits.

And didn't you start your business to make a profit????

Today we discuss five concepts of profitability that every business owner should focus on to help maximize their profits. These concepts are part of Mike Michalowicz's "Profit First" system that he outlines in his book.. (wait for it!!!) Profit First.

These concepts are not novel. They are not hard to implement. However, experience shows very few business owners implement these concepts, including:

Know your expenses

Set aside money for taxes

Pay yourself first

Pay off your debt

Focus on profits

To gain a better understanding of these concepts and how their implementation will change the trajectory of your profits, we recommend you do two things:

Read the book Profit First

Work with a Profit First professional

As Profit First professionals, we are here to help you maximize and enjoy the fruits on your entrepreneurial journey...your Profits.

Are you ready to transform your business into a profit generating machine?

CONTACT US AT:

Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

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The entrepreneurial path is full of endless possibilities. You probably have spent time reflecting on all these possibilities and then WHAM! reality hits and you begin to wonder if those possibilities will ever be achieved.

Well don't give up!

In this segment of "This is Their Story", we are joined by the founder of Elf Operations, Emma Ferrick, who shares her amazing story about starting her business at a point in time where she felt like she had hit rock bottom. Emma knew she wanted to start a business that allowed her to spend time with her daughter so did a search on what were the best online businesses to start. From this search, her entrepreneurial journey began.

Emma is motivated by the endless possibilities about owning her own business. However, the journey (like it is for most of us) has not been easy. She has had to learned that many of things she feared were actually not as bad as she was expecting. At one point, Emma wanted to give up because the endless possibilities she was hoping for were not playing out in reality. Realizing she had overcome hard things in her past and the support of her fiancé, were the keys to help her keep striving towards those endless possibilities.

Listen in as Emma tells her story, explains the importance of focusing on those things move your business forward, and shares many additional tidbits of success.

Here is more about Emma:

My name is Emma Ferrick. I am an Operations and Systems Strategist. I help driven entrepreneurs earn more while working less through my Optimization Framework to ensure they don't waste time or money. Prior to helping clients find balance and joy in their business, I graduated from Duquesne University with a degree in Operations Management with a Yellow Belt in Lean Six Sigma that led me to work full time as a Project Scheduler. I started my business to build a better life for myself and my daughter shortly after becoming a single mother from domestic abuse. What started out as a side hustle quickly grew into a thriving business. Because of my background and limited time to work on my business I built my business with automation and efficiency from day one to help me live my life to the fullest. Now I help others do the same. I offer personalized solutions that support growing your business without constant oversight so you can take moments to relax and be assured it’s all working for you

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To access the great resources Elf Operations has to offer go to: https://elfoperations.com/ (https://elfoperations.com/)

You can contact Emma at: [email protected]

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

When you need to make a financial decision in your business what financial information do you use? Do review your company's balance sheet, profit and loss statement, and cash flow statement? If you are like most entrepreneurs, you probably start getting a headache just thinking about these accounting statements.

From our experience, most entrepreneurs avoid these mundane financial statements and based their business decisions on a much simpler formula....how much money is in the bank account. If the bank balance is looking healthy, then that's a green light to spend money. The opposite is true if the bank balance is running low. We call this bank balance accounting.

If this sounds like you, don't worry it's not a bad thing. In fact, its human behavior. Most entrepreneurs did not spend much time (if any) learning about traditional account in school. Thus, trying to understand and use traditional accounting statements (those mentioned above) is too difficult...and frankly just too overwhelming.

Today we discuss these two seemingly incompatible accounting systems and provide our thoughts on why the concepts taught in Profit First (by Mike Michalowicz) can bridge the gap between traditional and behavioral based (i.e. bank balance) accounting.

Understanding traditional accounting statements is important so we spend a few minutes discussing each one and what they are telling you (without being too nerdy about it).

Next, we dive into a high lever discussion of Profit First principles and how following them will generally allow you to know the health of your business in 10 or 15 minutes by just looking at bank balances, rather than spending hours poring over financial statements.

Traditional accounting statements have their place and so does bank balance accounting. We explain it all in this episode.

Sound exciting!!!

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Want to enter our giveaway for a free copy of Profit First? Find us on Instagram and Facebook using the information below.

Entries must be received before January 31, 2022.

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac

Have we ever mentioned how much we enjoy having other entrepreneurs come on our show and shared their journey? Well, in case you missed it...WE LOVE IT!!! And because we love it so much we felt ending the year with another segment of "This is Their Story" seemed appropriate.

Today, we are joined by .... founder Elona Lopari. Elona is not only a fellow entrepreneur, she is an author and the host of the podcast "The Life School MasterClass Show". Like every entrepreneur, Elona's journey started in its own unique way. She spent 13 years working for a successful company in the retail industry. As she tells it, her career hit a crossroads when this company decided to make a shift in their direction and she saw no future with her current employer.

This crossroads launched Elona's self-development and entrepreneurial journey as an executive and career coach. As Elona discusses her journey, she shares great insight about her motivation, her support system, and what she has learned along the (plus so much more) that will enlighten and empower all of us.

Here is more about Elona:

Elona helps service providers with their positioning in sales and marketing through organic personalized strategies so that they could sell their high ticket offers leading to six figure in sales and up and have the lifestyle that they envisioned by becoming an entrepreneur.

Business and Marketing Strategy is her purpose and passion. She is a business owner dedicated to helping passionate and mission driven entrepreneurs start and scale their service based businesses so that they can make the most impact and align with their ultimate purpose. Elona also helps companies elevate to the next level through my extensive 20 year corporate experience.

Connect with Elona and join her Facebook Group Community "Grow your Badass Business with a High Ticket Offer"

https://www.facebook.com/groups/1226063794254928 (https://www.facebook.com/groups/1226063794254928)

Other ways to connect with Elona:

Website: https://www.elonaloparicoaching.com/ (https://www.elonaloparicoaching.com/)

Instagram: https://www.instagram.com/lifeschoolmission/ (https://www.instagram.com/lifeschoolmission/)

LinkedIn: https://www.linkedin.com/in/elona-lopari/ (https://www.linkedin.com/in/elona-lopari/)

Grab a copy of her book "Connecting the Vision Backwards" on Amazon:

https://tinyurl.com/5n7yrssw (https://tinyurl.com/5n7yrssw)

Check out her podcast "The Life School MasterClass Show":

https://tinyurl.com/yhsh92uk (https://tinyurl.com/yhsh92uk)

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

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What a year 2021 has been!!!! The COVID-19 pandemic is still causing all sorts of problems in our economy and in our personal lives. For each of us, 2021 has presented its own unique challenges and opportunities.

Today, we take a moment to reflect on our 2021 year, which has been a year of learning, adjusting, and making some big changes to our core services...not to mention a whole rebranding.

As we reflect on this past year, we discuss what prompted us to change our name to Procenac and why we became Profit First professionals. It wasn't a simple change or something we did on a whim. It took a lot of thought, struggle, and time...not to mention wondering if we were doing the right thing. Does that sound familiar to you?

Learning from the past is also a great way to grow in the future so we take some time to discuss what 2021 has taught us. What about you? What have you learned from your experiences in 2021?

Speaking of the future, we can lose focus on what is coming in 2022. We conclude our 2021 yearend review by discussing one thing we are going to focus on in the upcoming year. What's your focus in 2022?

Please take time to share what you learned in 2021 and what you plan to focus on in 2022 by going to our social media pages and adding your thoughts to our post about this podcast. Here is the link:

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Website: https://procenac.com/ (https://procenac.com/)

Instagram: @procenac

Facebook: @procenac