Help! My Business is Growing

Comments? Suggestions? Text the show here!

Your small business is poised for growth, but lurking legal risks could derail your success. It’s easy to get caught up in the excitement of growth and overlook the legal side of things. From employment laws and tax codes to those contracts that seem clear until they aren't, any of these can lead to expensive and time-consuming disputes. 

So, how do you make sure your business is legally protected? Do you hire a full-time lawyer or a consultant? And are there other ways for you to stay compliant and reduce risks without breaking the bank? 

In this episode, Michelle Bomberger and I discuss how you can minimize legal risks in your growing businesses. She shares how small business owners like you can protect themselves legally as the business expands including how to manage vendor and customer contracts, ensure compliance, and address employment issues during the recruitment process.

My guest today is Michelle Bomberger, CEO and Managing Attorney at Equinox Business Law Group. Michelle believes that every business deserves to have the same strategic law advantages as mega-corporations. 

Her experience as a business owner and entrepreneur gives Michelle unique insights into the emotional and practical aspects of owning a business and how important legal infrastructure is to growth and success. 

We discuss: (timestamps)

02:17 How business owners can minimize legal risk

04:10 Key points in vendor contracts for risk mitigation

06:36 Defining indemnification for business owners

08:36 Must-have items in customer contracts

9:23 Importance of tracking contract expiration dates

13:14 Essential components in employee contracts

16:57 Managing legal requirements for remote employees

18:47 Hiring HR experts for legal compliance

19:55 Integrating contracts, insurance, and business structure

24:37 Instances where the corporate veil can be pierced

27:16 Differences between professional liability and E&O insurance

28:55 Coordinating legal and insurance conversations

34:25 Key discussion points with a strategic legal advisor

36:44 Steps to gain better legal insight and minimize risks

Resources:

Michelle Bomberger, Strategic Legal Counsel, Founder and CEO, Equinox Law Group
https://equinoxbusinesslaw.com/

LinkedIn:
https://www.linkedin.com/in/michellebomberger/

Facebook: 
https://www.facebook.com/Equinoxbusinesslaw

Twitter:
https://twitter.com/equinoxlaw

Youtube:
https://www.youtube.com/@EquinoxBellevue

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | Minimizing Legal Risk in Your Growing Business
https://www.newcastlefinance.us/listen/minimizing-legal-risk-in-your-growing-business/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Great businesses thrive by investing in their people. When companies face tough times, it's often due to a lack of workforce development. 

If employees don't feel supported or aren't given chances to grow, it can lead to demotivation, higher turnover, and team dysfunction.  

So, what is workforce development? How does it function, and how can you implement it effectively?

In this episode, Michelle Arentz and I chat about why workforce development matters and how creating a positive workplace culture can really boost employee retention and help your business grow. We talk about what makes the recruitment process effective and share some handy tips for small businesses to keep their teams motivated and productive.

My guest today is Michelle Arentz. She is a workforce development consultant and founder of Lazarus Learning LLC. She is a workforce MD, helping companies enjoy a healthy bottom line by focusing on strengthening their hiring, teams, leaders, and cultures. She has woven a career tapestry of over 2 decades between corporate learning and development in both Canada and the US as well as spending 7 years as a high school teacher.

We discuss: (timestamps)

01:50 The negative effects of the lack of intentional culture-building

5:40 The Four core elements of company culture

13:14 Treating employees well for better business outcomes

17:16 Avoiding the "Penny wise and pound foolish" trap

21:09 Employees are an asset, not an expense

26:18 The importance of employee happiness

33:45 Communicating changes effectively

37:40 Developing management skills in small businesses

43:50 One actionable step to move your company closer to your goals

Resources:
Michelle Arentz, Workforce Development Consultant, Founder of Lazarus Learning:
www.lazaruslearning.com

LinkedIn:
www.linkedin.com/in/lazaruslearning

Email:
[email protected]

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | How Workforce Development Drives Business Growth
https://www.newcastlefinance.us/listen/how-workforce-development-drives-business-growth/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Employee retention lies at the heart of every successful business. It's the lifeline that keeps productivity high and morale even higher, making your team feel valued and appreciated, and motivating them to do their best. 

Yet, many companies struggle with keeping their best talent. Even businesses that seem great on paper often face high turnover rates. So why is it becoming harder to retain your employees? Why is this a recurring issue? What makes people want to leave? And what can you do to really show you appreciate them in a personal and relevant way?

In this episode, Kristie Holmes and I talk about what it takes to retain great talent in small businesses. She shares the basics of employee retention strategies and provides practical tips for businesses aiming to build and maintain strong teams.

Kristie is the dynamic force behind The HR Dept. With over 15 years of profound experience in recruiting and Human Resources across a spectrum of industries, she embodies the spirit of innovation and dedication. Her mission to provide tailored HR services ensures that small businesses not only survive but thrive in today's competitive landscape.

Download her HR templates to help you get your recruitment process in place:

https://thehrdeptky.com/resources/

We discuss: (timestamps)

02:49 Why a good retention strategy is important

04:14 Common issues affecting employee retention

07:36  The perceived appreciation gap between managers and employees

08:34 Practical ways for managers to show appreciation to employees

10:02 The impact of public appreciation on company culture

11:07 Monetary and non-monetary methods to appreciate employees

16:09 Showing appreciation to remote teams

17:37 Effective methods for remote team appreciation

21:45 Employee training and development on a tight budget

24:04 Implementing an official mentorship program

25:29 Rewarding employees who mentor others

27:41 Encouraging employee-to-employee appreciation

30:19 Examples of successful employee retention strategies

36:16 Actionable steps to take to foster appreciation and gratitude

Resources:

Kristie Holmes, Owner, The HR Dept, LLC
https://thehrdeptky.com/

LinkedIn:
https://www.linkedin.com/company/the-hr-dept-llc/

Instagram:
https://www.instagram.com/thehrdeptky/

Facebook:
https://www.facebook.com/thehrdeptky

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | How to Retain Your Best Employees

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

When your financial records are not accurate or organized,  it can lead to poor decisions, financial problems, and stunted growth.

So how do you keep your books clean? What should you look for in a bookkeeper and accountant? And how do you make sure that your financial records are accurate and up to date?  

In this episode, Jennifer Yousem and I talk all about the challenges of messy accounting for small businesses. We break down why this is so common, even in this day and age of accounting software and tools, and its true impact on the health of your business. She also shares tips for maintaining clean books to support your company’s growth.

Jennifer Yousem is a Fractional CFO who started her career in equity research. She pivoted into corporate finance for enterprise media and advertising companies and led teams in strategic and operational finance at Sony, Paramount, Clear Channel & Daily Mail. She was part of the team tasked with launching Verizon Hearst Media Partners and as their CFO, helped lead the merger with Complex to form Complex Networks, a multi-platform digital lifestyle brand owned by Verizon and Hearst. 

We discuss: (timestamps) 

03:06  Discovering messy books

04:50 Common issues with messy books

11:09  Differences between revenue, profit, and cash

16:10 Hiring a qualified bookkeeper

19:49 Tips on weeding out the wrong people in your team

28:05 Optimal month-end closing process

35:17  Actionable steps to take to keep your books organized and accurate

Resources:

Jennifer Yousem, Fractional CFO, I Love EBITDA
https://iheartebitda.com/

LinkedIn:
 https://www.linkedin.com/in/jenniferyousem

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

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | Messy Finances and How to Avoid Them
https://www.newcastlefinance.us/listen/messy-finances-and-how-to-avoid-them/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Expense management is a must for any business.  Every dollar spent can either contribute to your growth or drain your resources. And while it seems like a simple thing to do, many businesses struggle with it -  causing bigger financial problems down the road. So what can you do to avoid this in your business? 

In this episode, John Krebsbach and I go very deep into effective expense management. From managing credit cards and checks to dealing with reluctant vendors, he shares practical tips and real-world examples to help you implement an effective expense management system and protect your growing business.

John is a Principal at Precision Advisors, a business operations advisory firm for companies who are growing or are looking to ignite growth. He is an experienced founder and chief operating officer who enjoys the journey of building high-growth companies with great people. He earned and refined his growth operator skill set in a variety of environments, from co-founding a startup (and shutting it down) to scaling an Inc. 5000 business and building new teams within a global corporation.

We discuss: (timestamps) 

02:25 What is expense management and why it matters

05:14  Managing credit card expenses and tracking spending

17:49 Expense management for check and ACH-heavy businesses

26:14 Working with vendors resistant to digital tools

28:15 Implementing expense management processes 

42:21 One actionable step to take to implement an efficient expense management system

Resources:

John Krebsbach, Principal, Precision Advisors
https://precision-advisors.com/

LinkedIn:
https://www.linkedin.com/in/johnkrebsbach/

Special offer for listeners of the podcast:
Get a $500 sign-up bonus from Ramp to manage your business expenses: https://ramp.com/partners/precision-advisors

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | Effective Expense Management For a Financially Healthy Business
https://www.newcastlefinance.us/listen/effective-expense-management-for-a-financially-healthy-business/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Transforming your construction business can be a challenging yet rewarding process.

Is it time to scale up? Well, you've got customers to deal with, suppliers to find, building codes to follow, and a team to keep on point. 

All these moving parts directly affect your finances. Things can get chaotic fast, and if you neglect any of these areas, it can really hurt your financial stability and growth.

So, how do you keep everything on track in your construction business? 

What areas should you focus on to boost your finances? 

And what strategies can you implement to make sure all parts of your operations align with your financial goals?

In this episode, Dominic Rubino and I discuss strategies to elevate your construction business, from specific operational improvements you can make and the financial planning and analysis you need to support your expansion goals.

Dominic is a construction business coach and host of the podcasts  “Profit Tool Belt”  and “Cabinet Maker Profit System”. He is also a serial entrepreneur, a proud husband and father, and a horrible fly fisherman. In both shows, Dominic shares lessons, tips, and tricks from thought leaders in the construction industry. With Dominic, you’ll get reality, not theory. He uses real -life stories and colorful anecdotes that help you see what the next level looks like and know how to get there. 

He’s been a business coach for over 23 years and an Entrepreneur for 25. Over the years he’s had companies in Construction Trades, Contracting, Mail Order, Pharmaceuticals, Real Estate, & Business Coaching. His commitment to you is that you’ll learn more in this interview than most businesspeople do in a year. And he wants you to go and apply it!

We discuss: (timestamps) 

02:22 Common problems in construction businesses before coaching

03:26 Key issues for construction businesses aiming to grow

04:39 The benefits of having the right team

07:46 How changing your mindset can drive growth

08:52 Real-life construction case study example

16:25 Business alignment & focus

24:29 Addressing operational problems in construction

25:52 Implementing time tracking for better planning

29:53 Explaining new processes to your construction team

31:18 Actionable steps to boost construction business growth

Resources:

Dominic Rubino, Construction Business Coach and Podcast Host, BizStratPlan Profit Tool Belt
https://profittoolbelt.com/
https://cabinetmakerprofitsystem.com/

LinkedIn:
https://www.linkedin.com/in/dominicrubino/

Facebook:
https://www.facebook.com/ProfitToolBelt

Youtube:
https://www.youtube.com/channel/UCKVBkA9GmALX_J7W3iGIy6g

Podcast:
https://profittoolbelt.com/podcast-dom/

Podcast:
https://cabinetmakerprofitsystem.com/podcast/

Kathy Svetina, Fractional C

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

When people talk about business innovation, the top of their minds is new tech or new products.

However, small business innovation particularly, is so much more than that.  

It's also about fresh ideas, seeing things from a different perspective - including how you use your products, making smart choices, and strategic growth. 

So what does innovation look like in small businesses? 

Are there any tools or techniques that can enhance innovation? 

How does it drive success? 

And how can you, as a leader, build a culture of innovation in your business?

In this episode, Steve Wunker and I talk about innovation, specifically in businesses. What it is, what it looks like, and real-world examples of innovative businesses. He shares practical strategies and informative insights on how you can foster innovation and stay ahead of the market regardless if you are a small or large business.

Steve Wunker is the Managing Director of New Markets Advisors, a global consulting firm focused on innovation. He was responsible for one of the world’s first smartphones, pioneered the mobile marketing and commerce industries, and partnered with a longtime colleague, Harvard Business School’s Clayton Christensen, in building the consulting firm Innosight. He’s also the author of three award-winning business books and the co-author of the new book: The Innovative Leader: Step-by-Step Lessons from Top Innovators for You and Your Organization.

We discuss: (timestamps) 

02:08 Exploring innovation in small businesses

03:06 The innovation process for small businesses

04:06  Managing customer expectations in innovation

09:16 Innovation as an evolutionary process

11:10 Identifying opportunities for innovation

13:02 Rebranding as a strategy for innovation

17:13 Different types of innovation beyond products and services

18:40 Questions and frameworks to jumpstart innovative thinking

20:31 Building and cultivating innovation in your business

27:05 Balancing financial prudence and innovation

31:30 Real-world example: laundromat innovation

34:56 Actionable steps to take for small business innovation

Resources:

Steve Wunker, Managing Director, New Markets Advisor
http://www.innovativeleaderbook.com/

LinkedIn:
https://www.linkedin.com/in/stephenwunker/

Email:
[email protected] 

Author:
The Innovative Leader: Step-by-Step Lessons from Top Innovators for You and Your Organization (2024) - https://a.co/d/57VXey0

Capturing New Markets: How Smart Companies Create Opportunities Others Don’t (2011)
https://www.amazon.com/Capturing-New-Markets-Companies-Opportunities/dp/0071825959

Jobs to be Done: A Roadmap for Customer-Centered Innovation (2016)

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Running a business can be very stressful, as you may already know.

When stress kicks in, it can impact both your body and mind, affecting how well you work. 

If it’s not managed, it can lead to loss of focus, missed opportunities, and even burnout, which can prevent your business from growing. 

The good news is, there's a simple yet effective way to manage stress called Breathwork. 

This technique helps you regain control and stay calm during the daily hustle. 

But what is breathwork exactly? 

How is it different from regular breathing? 

How does it help manage stress? 

And how can you make sure you're doing it correctly?

In this episode, John Hall and I break down a number of powerful strategies for managing stress, including mastering breathwork, avoiding getting locked in “survival mode” and shifting focus to positivity and gratitude.

John is a Breathwork & Embodiment Coach and a 30-year Fortune 100 tech leader. He left corporate life to cultivate the relationships and purpose that drive fulfillment. Now, he coaches executives and entrepreneurs via a science-backed methodology blending neural science, breathwork, and somatic practices to manage stress, boost self-confidence, and unlock potential.

We discuss: (timestamps) 

02:35 The Impact of stress on business performance

04:53 The physical effects of chronic stress

09:53 B.P.M: Breath, Physiology and Mindset

20:07 Identifying daily stressors and how to overcome them

21:15 How to shift negative thoughts 

23:09  Breathwork in Action

27:37 Relaxation tips during stressful moments

30:26 Tapping as a stress-relief technique

35:26 The quickest way to get yourself to relax right now 

Resources:
John Hall, Breathwork & Embodiment Coach
https://johnhallcoaching.com/

Email: 
[email protected]

LinkedIn:
https://www.linkedin.com/in/johnthomashall/

Instagram:
https://www.instagram.com/johnhallcoaching/

Facebook:
https://www.facebook.com/johnhallcoaching/  

Speaking + Media Inquiries:
https://quick.callwithjohnhall.com

Other resources mentioned in this episode:

Amy Cuddy
https://www.amycuddy.com/

Daniel Kahneman
https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | Mastering Business Stress with Breathwork
https://www.newcastlefinance.us/listen/mastering-business-stress-with-breathwork/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

For your business to grow, you need a recruitment strategy or recruitment process in place to get the right team in place.

If you don’t find the people that can best fit your business needs, you might end up with higher turnover and lower productivity, making it harder to hit your goals. 

So what can you do to get it right?  

You can optimize your job listings, cultivate the right culture and even adjust your salary ranges to attract good candidates. 

You can also bring in professional HR recruiters. 

They have the expertise to find the right candidates quickly and efficiently, making sure you get the best fit for whatever your business needs.

But how do you actually work with them? 

What's the process like? 

How long does it take to find someone who's the perfect fit? 

And what can you do to help them get you the best results?

In this episode, Kristie Holmes and I explore the essentials of successful recruitment in small businesses. We address the different parts of the recruitment process and provide actionable tips on how to set it up for businesses looking to expand their teams.

Kristie is the dynamic force behind The HR Dept. With over 15 years of profound experience in recruiting and Human Resources across a spectrum of industries, she embodies the spirit of innovation and dedication. Her mission to provide tailored HR services ensures that small businesses not only survive but thrive in today's competitive landscape.

Download her HR templates to help you get your recruitment process in place: https://thehrdeptky.com/resources/

We discuss: (timestamps)

02:27  Why it's hard for small businesses to find the right hires

05:28 How to start the recruiting process

07:40 The ideal length for a job description

08:23 Next steps after creating a job description

13:22  Using AI tools for job descriptions and resumes

14:03 Timeframe from engaging a recruiter to interviews

15:01 Shortest and longest times to find a candidate

16:57 Aligning pay expectations with market rates

21:30 How company culture affects recruitment

25:16 Being upfront about work-life balance expectations

25:30 The difference between hiring a recruiter and DIY recruiting

27:22 How recruiters charge for their services

29:04  Actionable step to take to find the right people

Resources:

Kristie Holmes, Owner, The HR Dept, LLC:
https://thehrdeptky.com/

LinkedIn:
https://www.linkedin.com/company/the-hr-dept-llc/

Instagram:
https://www.instagram.com/thehrdeptky/

Facebook:
https://www.facebook.com/thehrdeptky

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | How to Hire Your Best Employees

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint

Comments? Suggestions? Text the show here!

Workforce planning is a vital strategy for your growing business. 

It makes sure that you have the right people fill the right roles at the right time. 

But applying workforce planning concepts to your operations might be challenging, especially if it's something you've never had in your business before. 

So, what exactly is workforce planning? 

How does it integrate into your business structure? 

And how do you know if it's effective or not?

In this episode, Carol Fraser and I talk about workforce planning and its significance, impact, and role in the growth and success of your business. From understanding job architecture to optimizing talent alignment, Carol also shares practical strategies on how to implement this in your business effectively.

Carol specializes in workforce planning and strategic HR leadership, offering cost-effective fractional HR executive services. With a track record spanning diverse industries, she helps organizations anticipate talent needs, optimize workforce deployment, and drive sustainable growth. 

We discuss: (timestamps)

02:04 What is Workforce Planning

04:43 Five essential inputs for effective workforce planning

09:29 Defining what kind of people you need in your organization 

13:57 Key questions to ask when incorporating workforce planning in your operations

24:31 Common workforce planning mistakes and how to address them 

30:22 What is employee experience?

32:49 Job description vs job architecture

36:56 Actionable steps to take in implementing workforce planning

Resources:
Carol Fraser, Workforce Planning Expert, Fractional HR Executive:
https://www.c4talent.com

Schedule a meeting with Carol:
https://www.c4talent.com/calendar 

Workforce Planning PDFs:
Workforce Planning.pdf
HR-Opoly.pdf

Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | Workforce Planning and Job Architecture for Business Growth
https://www.newcastlefinance.us/listen/workforce-planning-and-job-architecture-for-business-growth/

Is your growth causing financial headaches? Sales up, but profits lagging? Financial practices stuck in entry level mode?

Don't worry, it's not you—it's your financial setup.

Introducing NextGen Finance Blueprint by NewCastle Finance. This CFO-led roadmap: • Brings fuzzy finances into focus • Gives you a clear money picture • Creates a step-by-step action plan

Ready to level up? Visit newcastle.finance/blueprint