Not For Public Consumption

Done right, a Sources & Uses of Funds will show you how much cash you’re going to need to (1) launch your business and (2) cover your expenses until you’re generating enough cash to cover your expenses or reach the next round of funding.

In this episode you will learn:

1. The 3 core questions every investor (or lender) will ask.
2. Why the Sources & Uses of Funds is different from other spreadsheets.
3. What the Sources & Uses of Funds reveals about your business.
4. One common mistake to avoid.
5. How to create a Sources & Uses of Funds spreadsheet the right way.
6. Additional resources and helpful reading.

Resources:

• Why Cash Is King
• Financial Projections Explained (Even If You’re Not a Numbers Person)
• The Difference Between Profit & Loss and Cash Flow Projections
• Financial Vocabulary for People Who Hate Numbers
• All-in-one Business Plan Kit

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

Confusing “profitability” with “cash flow” puts your startup at risk. Even the most profitable companies can fail — and when they do, they’re always caught by surprise.

Financial jargon is not only confusing, but many of the words are used casually as if everyone understands them. In our everyday lives, it’s usually not a big deal since our ordinary conversations typically don’t need that level of precision. But in business, these words matter.

This is especially true with words like “profit,” “cash flow” and “working capital.” If you don’t understand the differences, you’re putting your startup’s financial health at risk.

In this episode you will learn:

1. Financial terms you should know — explained in plain English.
2. The most important difference between cash and profit.
3. The 3 strategic advantages of having cash on hand.
4. The value of a financial cushion (as opposed to a war chest).

Resources:

• The Difference Between Profit & Loss and Cash Flow Projections
• Financial Projections Explained (Even if You’re Not a Numbers Person)
• Retain Your Ability to Think Strategically
• How to Find Out What Your Customers REALLY Want
• More details about my startup advisory services

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

Bootstrapping gives both you and your company advantages you can’t get with a huge cash infusion.

This is especially true for startups that take on an advisor to help guide them through tough decisions and formulate the strategies and tactics that will help them make the most of what they have.

And if, down the road, you do decide to look for outside investors, building a profitable business while bootstrapping puts you in a far stronger position to pitch your business and negotiate terms.

In this episode you will learn:

1. Why you don’t “need” investors to build a growing business.
2. The advantages you can’t get with a huge infusion of cash.
3. How advisors work from your goals... but investors work from theirs.
4. Why bootstrapping is a BIG advantage in getting investors later.

Resources:

• How to keep control of your business
• Starting out with limited resources
• What does a startup advisor do?
• Is lifestyle or company culture important to your startup?
• All-in-one Business Plan Kit

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

If you’re like most founders, every day your job consists of putting out fires wherever they spring up. The big picture falls by the wayside as you scramble to keep up with the very real demands of growing your business.

Before opening your doors you had time to think about the big picture — which products and services to offer, creative strategies for reaching customers. In other words, you had the luxury of time... to be proactive, to brainstorm and to work through challenges and goals ahead of time.

When you’re not getting distracted by the day-to-day stuff, you’ll be able to clearly see the trajectory your business is taking and get a much better picture of what’s working and what’s not.

In this episode you will learn:

1. Why an annual review — or gut check — is vital to your startup’s long-term success.
2. Twelve questions you should be asking as part of your annual gut check.
3. Why the 80/20 rule can make or break your business.
4. How to take the action you need to make changes.

Resources:

• How to Make the Best Use of Limited Resources
• Focusing On What Your Customers Really Want
• The 80/20 Rule
• Deming Cycle
• Simple Ways to Make Big Changes

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

You don’t “need” investors to build a growing business. In fact, too much money can be a bad thing. Some of the most inspiring success stories have come from founders who had few resources at their disposal.

In this episode you will learn:

1. How limited budgets can lead to business breakthroughs.
2. How complacency stifles innovation.
3. Why desperation is an entrepreneur’s friend.
4. Why too much money can be bad for your startup.

Resources:

• Vincent van Gogh
• How Judith Lieber turned lemons into lemonade
• All-in-one Business Plan Kit

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

Most entrepreneurs write business plans because they have to — either to raise money from investors or to obtain a bank loan. 

But to successfully secure outside funding, your business plan has to be STRONG — because a business plan is a bit of a double-edged sword.

Even if you’re simply writing a business plan to use as an operating blueprint, you’re not off the hook. The same mistakes that turn off investors will present challenges for you down the road as you build and grow your business.

In this episode you will learn:

1. The 7 business plan blunders you need to avoid.
2. Why these mistakes are like shooting yourself in the foot.
3. That you’re not off the hook even if you’re bootstrapping.

Resources:

• Custom business plan writing help
• DIY step-by-step business plan kit

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

You can’t move forward if you’re spending your time looking behind you. 

Every move you make in reaction to the competition dilutes the essence of your business, and those are the things that are drawing customers or clients to you in the first place. 

To build (and grow!) a thriving business requires both knowing your strengths and keeping your focus on them. 

In this episode you will learn:

1. Why looking over your shoulder is bad for business.
2. What you should be focusing on to trigger growth.
3. Examples of how to grow and thrive (that have nothing to do with the competition).
4. Four key takeaways.

Resources:

• Red Mango
• Frozen yogurt crash
• Fresh-pressed juice fad
• Hale and Hearty

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

Everyone wants to grow their business over time, but not everyone necessarily wants to scale their business.

“Scaling” is a buzzword you hear all the time in startup circles (and the media). They talk about it as if it’s the ultimate goal – the thing you should do, not simply something you could do. 

Well, I’m here to tell you: You have options.

In this episode you will learn:

1. The difference between growing and scaling — including an example in plain English.
2. Five reasons a business might prefer to stay small. (Small has its perks.)
3. Why staying small (i.e., growing "just enough") doesn't have to be a permanent choice.

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

There’s no denying we’re in the midst of worldwide financial uncertainty, with disruptions in nearly every industry and widespread confusion across the board. It’s natural to take a look around and decide to hit the pause button. 

I’m going to level with you. You don’t have to cancel your startup plans, and you can keep the pandemic from blowing up your business dreams. Now is the perfect time to start a business, and here’s why. 

In this episode you will learn:

How to leverage THREE once-in-a-lifetime advantages of the COVID-19 pandemic.

Resources:

• My Plans vs. 2020 meme generator
• How to interview target customers

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit

In a world where huge wins are so celebrated by the media, we often forget that no matter how far you’re going, you can only get there one step at a time. Baby steps may not be as glamorous as giant leaps, but in the long run they’ll take you a lot further, a lot faster.

In this episode you will learn:

1. The value of incremental change.
2. About my client Lila and see the nuts and bolts of how I turned an overwhelming goal into a series of manageable steps.

SPECIAL OFFER:

• Listeners can get 1 FREE hour of consulting by using the code “startup” or mentioning this offer when they book a call.

Connect:

• Visit my website
• Book a FREE discovery call
• Subscribe to my newsletter
• Tight budget? Check out my DIY Kit