Common Struggles: Everyday Questions for MKB | The Mills Knows Bills Podcast Episode 34, Season 4

Link to video podcast episode: https://youtu.be/k2w8dg0jWKE

Welcome to The Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of MKB, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode, Mills takes a conversational approach, and answers some of the common questions that she gets asked. Along with marketing team member Chloe, she discusses the challenges small business owners face with budgeting and offers tactical advice on establishing and maintaining personal and business budgets. The episode also outlines a step-by-step guide on how to review finances weekly, monthly, and quarterly, emphasizing the importance of proactive financial planning.

Do you have your own burning financial question for Mills or the MKB team?

Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

Subscribe on YouTube for the latest from MKB: https://youtube.com/@MillsKnowsBills

00:00 Introduction to Mills Knows Bills

01:03 Today's Episode Structure

01:37 Common Financial Questions

02:35 Creating Accurate Budgets

05:05 Implementing Your Budget

05:31 Consistent Financial Reviews

09:32 Long-term Financial Planning

10:43 Conclusion and Next Steps 

#financialpodcast #millsknowsbills #MKB #podcast #financialquestions #variableincome #smallbusinessfinance #entrepreneurfinances

Profit Margins: How to Raise Them | The Mills Knows Bills Podcast Episode 33, Season 4

Link to video podcast episode: https://youtu.be/G5bPVlgrgHw

Welcome to The Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of MKB, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode of the MKB Podcast, Mills is once again joined by fractional CFO Christian Wilson. Together, they tackle a common financial challenge faced by variable income earners: understanding and improving gross profit margin. The pair offer practical advice on renegotiating costs and vendor relationships, strategies for scaling service businesses effectively, and emphasize the importance of aligning business goals with personal aspirations.

Tune in to get the insights you need to make an informed choice for your business. Subscribe for more from Mills Bender and MKB on YouTube: https://youtube.com/@MillsKnowsBills

Connect with Christian: [email protected]

Do you have your own burning financial question for Mills or the MKB team? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

00:00 Introduction to Mills Knows Bills 

00:49 Meet the Team and Today's Question

01:38 Understanding Gross Profit Margin

02:42 Improving Your Gross Profit Margin

06:26 Scaling Your Service Business

08:47 Aligning Business Goals with Personal Goals

10:53 Final Thoughts and Contact Information

#financialpodcast #podcast #millsknowsbills #entrepreneurialfinance #smallbusiness #variableincome #profitmargin #scalingbusiness

Pricing Strategy: Hurting Your Bottom Line? | The Mills Knows Bills Podcast Episode 32, Season 4

Link to video podcast episode: https://youtu.be/s7AID_xDs_0

Welcome to The Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of MKB, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode, Mills welcomes back fractional CFO Christian Wilson to discuss your business's pricing strategy, and how it may be hurting your bottom line. The pair discuss factors that should be included in your pricing decisions, and how those prices may reflect on the products and services being offered. They also address the financial difficulties of slow seasons, and how to keep from running out of money.

Tune in to get the insights you need to make an informed choice for your business. Subscribe on YouTube for more from MKB: https://youtube.com/@MillsKnowsBills

Connect with Christian:

[email protected]

Do you have your own burning financial question for Mills?

Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

00:00 Introduction to The Mills Knows Bills Podcast

01:02 Meet Mills' Special Guest: Christian Wilson

01:25 The Burning Financial Question: How Is My Pricing Strategy Affecting My Bottom Line?

05:45 Follow-up Question: Why Do I Run Out of Money During Slow Seasons?

10:43 Episode Wrap-Up and Contact Information

#financialpodcast #millsknowsbills #entrepreneurialfinance #variableincome #smallbusiness #pricingstrategy #bottomline

Should You Lease or Buy Your Business Vehicle? | The Mills Knows Bills Podcast Episode 31, Season 4

Link to video podcast episode: https://youtu.be/ymKq9lK6QKc

Welcome to The Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode, Mills is joined by MKB CFO Jen Fizer and special guest Kenney Baez, owner of a wildlife removal and pest control business. They discuss the financial implications of leasing vs. owning business vehicles. The conversation covers hidden costs, tax considerations, and how to make the best decision based on your current financial situation. Tune in to get the insights you need to make an informed choice for your business.

Subscribe on YouTube for the latest from the MKB Podcast, Mills Knows Bills, and CEO Mills Bender!

To connect with Kenney and Freedom Wildlife:

Website: https://freedomwildlife.com/

Connect with Jen:

[email protected]

Do you have your own burning financial question for Mills?

Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

00:00 Introduction to Mills Knows Bills

01:37 Meet the Guest: Kenney Baez

02:14 Leasing vs. Owning a Company Vehicle

03:09 Financial Considerations and Advice

05:45 Pros and Cons of Leasing

11:52 Final Thoughts and Contact Information

#financialpodcast #millsknowsbills #entrepreneurialfinance #variableincome #smallbusiness #podcast

How to Improve Cash Flow for Your Business | The Mills Knows Bills Podcast Episode 30, Season 4

Link to video podcast episode: https://youtu.be/hUS_kUScNYk 

Welcome to The Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode, Mills discusses strategies for managing cash flow with her guests, fractional CFOs Christian Wilson and Jen Fizer. The episode covers key topics such as understanding cash flow statements, projecting cash flow, and solutions to cash flow problems. The trio share insights on controlling expenses, increasing revenue, and leveraging accounts receivables. They also highlight the importance of having an emergency fund. The episode aims to help business owners with fluctuating income avoid financial pitfalls and achieve their financial goals.

Subscribe on YouTube for the latest from the MKB Podcast, Mills Knows Bills, and CEO Mills Bender!

To connect with Jen and Christian:

[email protected]

[email protected]

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

00:00 Introduction to Mills Knows Bills Podcast

01:02 Meet the Team: Special Guests Jen and Christian

02:32 Understanding Cash Flow Issues

05:04 Strategies to Improve Cash Flow

09:30 Building a Safety Net for Future Cash Flow

11:52 Conclusion and Contact Information 

#financialpodcast #millsknowsbills #podcast #entrepreneurfinances #smallbusiness #variableincome #cashflow

Why Your Company Isn't Profitable, and How to Fix It | The Mills Knows Bills Podcast, Season 4

Link to video podcast episode: https://youtu.be/IEg9zy6NV3U

Welcome to the Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this episode, Mills is joined by MKB team member Jen Fizer, a seasoned CFO with over a decade of experience. They dive into a pressing question from a listener: "Why is my company not profitable, and what can I do about it?" The conversation covers crucial aspects such as analyzing profit and loss statements, managing operating expenses, renegotiating with vendors, and optimizing revenue streams. They also discuss the importance of collecting accounts receivables on time. Get actionable tips to help your business achieve financial stability and growth. Tune in to master your money and transform your financial future!

Subscribe on YouTube for the latest from Mills Knows Bills:

https://youtube.com/@MillsKnowsBills

To connect with Jen:

[email protected]

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

00:00 Introduction to The Mills Knows Bills Podcast

01:04 Special Guest Introduction: Jen Fizer

02:06 "Why Is My Company Not Profitable?"

03:55 Strategies to Improve Profitability

07:12 Accounts Receivables and Profitability

09:51 Conclusion and Contact Information

#financialpodcast #millsknowsbills #entrepreneurialfinance #smallbusiness #variableincome #businessprofit #profitability

Tax Traps to Avoid as Business Owners | The Mills Knows Bills Podcast Season 4 Premiere

Link to video podcast episode: https://youtu.be/tQd0BD-mczM

Welcome back to The Mills Knows Bills Podcast! Let's get to those burning financial questions.

In this season 4 premier episode, host Mills Bender welcomes Paul Childers, owner of Blue Sky Biz Solutions, to discuss the importance of showing profit in a business and avoiding common tax traps. They dive into business credit, why it matters, and how to build it effectively. Learn strategies to manage taxes, protect personal assets, and obtain better financing to scale your business. Tune in to gain insight into mastering your fluctuating income and achieving both personal and professional financial goals!

To connect with Paul:

https://blueskybizpro.com/

https://www.facebook.com/paul.childers.731

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

Subscribe on YouTube for the podcast episodes and more from Mills Knows Bills: https://youtube.com/@MillsKnowsBills

00:00 Introduction to Mills Knows Bills

00:53 Season Four Kickoff with Paul Childers

01:22 Understanding Business Credit and Taxes

03:11 Importance of Showing Profits

05:36 Building and Leveraging Business Credit

07:27 How to Improve Your Business Credit Score

08:12 Conclusion and Contact Information

#financialpodcast #MillsKnowsBills #businesscredit #businesstaxes #entrepreneurialfinance #creditscore

Welcome to the Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!

In this season finale episode of the Mills Knows Bills podcast, Mills provides a comprehensive guide to understanding and analyzing your profit and loss (P&L) statement. The episode covers key components such as revenue, cost of goods sold (COGS), operating expenses (OPEX), and net income. Mills offers practical tips on diversifying revenue, managing seasonal business fluctuations, negotiating with vendors, and maintaining a healthy profit margin. Whether you're a product-based or service-based business owner, this P&L analysis 101 class will help you make smarter financial decisions and avoid common pitfalls. Tune in to learn how to better handle your fluctuating income and stay on track with your financial goals!

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

Subscribe for the latest on YouTube: https://youtube.com/@MillsKnowsBills

Link to video podcast episode: https://youtu.be/5MUYVnkmG-I

00:00 Introduction to Mills Knows Bills

00:53 Podcast Overview and Goals

01:26 Understanding Profit and Loss (P&L)

02:01 Revenue Analysis

03:52 Cost of Goods Sold (COGS)

04:49 Operating Expenses (OPEX)

06:39 Net Income and Profit Margin

09:22 Conclusion and Next Steps  

#financialpodcast #millsknowsbills #entrepreneurialfinance #variableincome #businessfinances

Welcome to the Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for variable income earners to manage their finances effectively. Let's get to those burning financial questions!

Join Mills in this solo cast episode of the Mills Knows Bills podcast as she discusses strategies for mastering fluctuating income and scaling your blue collar business. Mills identifies five common financial pitfalls that entrepreneurs face: lack of planning, mixing personal and business finances, avoidance of financial management, inadequate savings, and unbalanced leverage. Learn practical tips to implement a budget, separate finances, stay proactive in financial planning, build savings, and manage debt to ensure a healthier financial future for your business.

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

Subscribe on YouTube for the latest https://youtube.com/@MillsKnowsBills

Link to video podcast episode: https://youtu.be/dpI7WLlTED4

00:00 Introduction to Mills Knows Bills

00:28 Podcast Overview and Goals

00:53 Answering Common Financial Questions

01:35 Five Common Financial Pitfalls

01:48 Pitfall 1: Lack of Planning

03:11 Pitfall 2: Mixing Business and Personal Finances

04:30 Pitfall 3: Avoidance

06:11 Pitfall 4: Little to No Savings 0

7:18 Pitfall 5: Unbalanced Leverage

08:57 Conclusion and Call to Action

#financialpodcast #millsknowsbills #entrepreneurialfinance #variableincome #businessfinances #financialmistakes #bluecollar

Welcome to the Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for variable income earners to manage their finances effectively. Let's get to those burning financial questions!

This episode features a guest appearance by Josh Pies, owner of C47 Digital Studios, to discuss the financial complexities of managing multiple LLCs and the benefits of fractional CFOs. Mills and Josh explore the effectiveness of incorporating separate entities for different business ideas, balancing practicality with legal considerations, and the personal enjoyment they derive from their respective work in finance and entrepreneurship. Josh also shares insights on utilizing podcasts for business development and fostering meaningful relationships. Join the discussion for actionable financial advice and entrepreneurial insights!

To connect with Josh and C47 Digital Studios:

https://c47films.com

https://bootstrappedunicorns.com

Do you have your own burning financial question for Mills? Contact her here:

Email: [email protected]

Website: https://MillsKnowsBills.com

Instagram: https://instagram.com/@millsknowsbills

LinkedIn: https://www.linkedin.com/company/mills-knows-bills

Subscribe on YouTube for the latest from  @MillsKnowsBills 

Link to video podcast episode: https://youtu.be/YSsIslQ9Ef8 

00:00 Introduction to Mills Knows Bills

01:11 Meet the Guest: Josh Pies

02:04 Burning Financial Questions

03:10 Managing Multiple LLCs

08:40 The Joy of Finance

11:24 Josh Pies on Entrepreneurship

14:40 Conclusion and Contact Information

#financialpodcast #millsknowsbills #entrepreneurialfinance #variableincome #videopodcast #digitalstudios #entrepreneurship