Per Her Perspective

Budgeting: An Important Part of Running a Business

Marla Noel explains why budgeting is not just a finance exercise but a core business discipline for cash flow, decision-making, and growth planning. She walks through how to build a practical budget from real historical data, how to account for revenue, expenses, salaries, and cost of sales, and why the process should start early enough for leadership review before the new year. In this solo episode, Marla focuses on one main topic: building a realistic annual budget that helps a business avoid cash shortfalls and stay aligned with its goals. The guidance is especially useful for owners and leaders who need a budget that is detailed enough to use, but flexible enough to reflect real-world changes.

Key topics

• Marla explains why budgeting should begin in September and be finished in November so leadership can review it before January.
• She frames budgeting as a tool for cash control, target-setting, and decision-making, not just a spreadsheet task.
• Revenue should be budgeted line by line based on business type, whether services billed by volume or products sold by unit.
• She stresses using last year’s numbers as a starting point but not copying totals without understanding what drove them.
• Any projected revenue increase should have a reason, such as price increases, new salespeople, new services, or a new division.
• Expenses should be estimated using a 12-month view, with unusual one-time costs excluded unless they are expected to recur.
• Cost of sales belongs below revenue and should include direct costs tied to production or delivery.
• She warns that revenue growth can strain cash flow if customer payments lag behind payroll and other obligations.
• Marla recommends building cash reserves equal to six months of administrative expenses as protection against disruption.
• Budget assumptions should be documented in the spreadsheet so anyone reviewing it can understand the reasoning behind the numbers.
• She says the finished budget should be reviewed by the CEO and, if applicable, the board before the fiscal year begins.

Timestamps

(0:28) Why budgeting matters and what this episode covers
(1:27) Cash flow, targets, and the danger of running out of money
(2:19) Why budgets are estimates, not perfect predictions
(3:20) Starting with revenue by business type
(4:17) Justifying revenue growth with real strategy
(5:11) Using prior-year data to estimate expenses
(6:06) Handling unusual expenses and separate salary planning
(7:30) How seasonality affects revenue and cash flow
(8:25) Accounting for inflation and rising business costs
(8:54) Linking aggressive growth goals to staffing needs
(9:53) Why Marla recommends six months of cash reserves
(10:53) Calculating cost of sales for product businesses
(11:50) Separating direct costs from administrative expenses
(14:18) Comparing against prior-year numbers and reviewing the draft
(15:43) Aligning the budget with profitability and business goals
(16:42) Capturing assumptions inside the spreadsheet
(17:35) Sharing budgeting responsibility with department heads

Action Items

• Start the budgeting process early, ideally in September.
• Use prior-year financials as the foundation for next year’s budget.
• Write down the assumptions behind every major revenue and expense estimate.
• Separate salary planning from the rest of the budget if that makes the process clearer.
• Check whether projected growth is supported by staffing, pricing, and operations.
• Review the draft budget with leadership before the fiscal year starts.
• Build or protect cash reserves, especially for administrative expenses.

Marla Noel sits down with Patricia De Fonte, founder of DeFonte Law PC, to talk about building an estate planning firm around freedom, family, and a deliberately designed lifestyle. Patricia explains how she returned to law after years away, why she chose estate planning over entertainment law and litigation, and how coaching, hiring, and community shaped her business.

This conversation connects business operations to real life: time, caregiving, capacity, and the practical consequences of not having your affairs in order.

• How Patricia built a boutique estate planning practice around a part-time schedule, a remote team, and a family-centered life.
• Why she left entertainment law and litigation, and how estate planning offered intellectually stimulating, emotionally satisfying, and financially sustainable work.
• What she learned from returning to school for an LLM in estate planning, probate, and trust administration.
• How coaching and peer groups influenced her business—including a coaching program after which she increased revenue by 30 percent.
• Her firm’s “urgent and important” rule, Friday team meetings, and methods for protecting focus.
• How the team uses Kaizen—small, incremental improvements—to refine client experience, technology, and internal processes.
• Why hiring earlier could have helped, how her operations director became essential, and why team chemistry matters.
• The value of professional networks like ProVisors when members focus on learning about one another’s work, not just exchanging referrals.
• Why estate planning can protect women and families, especially when caregiving, incapacity, or inheritance issues arise.
• Why freedom—of time, values, and how she works—is Patricia’s primary motivation.

00:00 - Patricia De Fonte’s background and boutique estate planning firm
02:17 - Returning to law after raising a family and leaving entertainment law
03:55 - Going back for an LLM and learning about estate planning
05:06 - The entrepreneur incubator and a social media wake-up call
06:37 - Family influences: a builder father and a structured mother
08:50 - Realizing she could not commit to a traditional office job
09:57 - Starting her practice from home and growing into office space
11:09 - Mentors, peer support, and paying it forward
13:39 - Why networking works best when you learn, not just refer
15:30 - Family support and sibling closeness
16:22 - Coaching, business growth, and the “urgent and important” rule
17:36 - Friday team meetings and protecting focus
20:03 - Hiring early and building strong operations
21:09 - Why she wished she had hired an associate sooner
22:41 - Team chemistry and choosing happiness over growth at all costs
23:15 - Why process and client experience are not the same thing
24:29 - Kaizen and continuous improvement
26:26 - Trust, discernment, and lessons from business mistakes
28:11 - How Patricia’s team might describe her as a boss
29:30 - The recurring administrative tasks that frustrate business owners
32:29 - Giftology, branding, and the significance of apple pie
34:07 - The origin of the apple pie tree-of-life story
37:24 - WPO, Allison Tabor, and the value of chapter culture
40:00 - Peer review, clarifying questions, and lived experience
42:49 - Five-to-ten-year plans and building a turnkey firm
46:36 - Freedom as Patricia’s core motivation
49:31 - Why estate planning protects women and families
53:52 - Life insurance and the needs of clients in their 30s, 40s, and 50s
54:41 - Final thoughts on probate and why estate planning matters at every income level

KPIs are supposed to improve performance—

Marla Noel breaks down how to build KPIs that actually motivate people, align with strategy, and help you grow without turning measurement into a morale problem.

For business owners and department leaders, this episode cuts through the KPI noise and gets practical fast. Marla shares why the first number is often just an estimate, why employee buy-in matters more than perfection, and how one client went from aiming for 45 outreach touches to landing on a realistic 28 after the team defined what “outreach” actually meant. You’ll discover:

• How to introduce KPIs without triggering fear or resistance
• Why leading indicators often matter more than lagging results
• How to choose the right KPI count so everything important does not become nothing important
• What it means for KPIs to align from the company level down to managers and employees
• How to build a follow-up system so KPIs do not become “the flavor of the month”

Marla also shares practical examples for sales, client outreach, blog posts, contracts, gross margin, and net profit, plus the difference between stretch goals and numbers that are simply unrealistic.

If you’ve ever struggled to get your team to care about metrics, or worried that your KPIs are measuring the wrong things, this conversation gives you a clear path forward. She also points you to two helpful resources: Measure What Matters by John Doerr and Drama Free Management, by Marla Noel and Pete Fowler, which includes a KPI template you can use with your staff.

The big takeaway is simple: KPIs should drive focus, accountability, and growth—not confusion, fear, or box-checking. Perfect for founders, managers, and leaders who want measurement systems that people will actually use and trust.

Timestamps

00:28 – Why KPIs matter for business owners and managers
01:05 – How KPIs can scare employees if handled poorly
01:35 – Using a trusted business coach to introduce KPIs
02:05 – Starting with estimates when the right number is unknown
03:05 – Examples of financial and activity-based KPIs
03:39 – Defining what counts as outreach before setting the target
04:39 – Why 45 was too high and 28 became the stretch goal
05:39 – Leading KPIs vs. lagging KPIs
06:39 – Why leading indicators are more actionable
07:32 – Lagging metrics like sales, billable hours, and signed contracts
08:02 – Why three to five KPIs is usually enough
08:32 – Aligning KPIs with business strategy
09:32 – Why follow-up keeps KPIs from becoming a fad
10:14 – Monthly reporting, spreadsheets, and KPI software
11:14 – Reviewing KPIs with executives and employees
11:44 – Books Marla recommends for KPI planning
12:39 – Marla’s recap: keep KPIs useful, focused, and motivating

Kyra Hokanson Gray, president and owner of Hokanson Vascular, shares insights into the company's history, her personal journey, and the challenges of business management. From the early days of the company's founding to the impact of her father's death.

Kyra's story is one of resilience, leadership, and dedication to work-life balance. The conversation covers a range of topics including challenges in personnel management, dealing with workplace issues, managing business sensitivities, coping with personal loss and business continuity, building relationships with customers, the value of peer advisory groups, Women Presidents' Orgaization, the impact of grief on decision making, passion for music and involvement in Meany Center, hobbies and personal interests, and future plans and exciting opportunities.

Takeaways

• Resilience in the face of unexpected challenges
• Cross training and how it helped the business survive.
• The importance of work-life balance and personnel management in business.
• The value of trusting your employees to do the job they were hired to do. Trust but Verfy.
• Effective personnel management is a significant challenge in business operations.
• Coping with personal loss and maintaining business continuity requires resilience and determination.

Chapters

• 00:00 Introduction to Hokanson Vascular
• 03:31 Early Life and Company History
• 10:23 Transition and Leadership
• 17:13 Challenges and Business Management
• 23:51 Work-Life Balance and Personal Reflection
• 29:33 Global Impact and Personnel Management
• 31:44 Challenges in Personnel Management
• 32:09 Dealing with Workplace Issues
• 33:06 Managing Business Sensitivities
• 35:20 Coping with Personal Loss and Business Continuity
• 34:06 Building Relationships with Customers
• 42:09 The Value of Peer Advisory Groups
• 37:46 The Impact of Grief on Decision Making
• 48:55 Passion for Music and Involvement in Meany Center
• 53:07 Hobbies and Personal Interests
• 56:34 Future Plans and Exciting Opportunities

Per Her Perspective with Kyra Hokanson Gray

Marla Noel sits down with Kyra Hokanson Gray, president and owner of D.E. Hokanson, to talk about leading a woman-owned medical device company, navigating sudden succession after her father’s death, and the lessons she has learned about leadership, personnel, and balance.

Kyra shares the family history behind Hokanson Vascular, how the company grew from a basement operation into a globally respected manufacturer, and why trust, structure, and cross-training have helped the business stay resilient. She also talks about WPO, Meany Center, travel, reading, knitting, and the values that have shaped her leadership style.

Key topics

• Kyra shares how her father, Gene Hokanson, founded the company in 1973 after working with vascular surgeons in Seattle on noninvasive blood flow measurement.
• Kyra explains how her mother handled the administrative and financial side of the business while her father focused on invention, customers, and product development.
• She describes becoming president in 2005 after her father died unexpectedly in a plane accident while she was on maternity leave.
• We discuss how cross-training and a small-team culture helped Hokanson keep operating smoothly during that transition.
• She talks about the leadership value of trust, balanced with verification, and why she expects employees to own their roles.
• Kyra explains how she uses calendar blocking to protect time for product development, personnel issues, and even time for herself.
• Kyra talks about WPO, peer advisory support, and how the chapter has helped her think through both business and personal challenges.
• She shares her passion for the Meany Center for the Performing Arts, where she serves on the board and chairs the gala committee.

Timestamps

03:03 - Growing up around an inventor father and a basement startup
04:09 - How Hokanson began with hemodynamics research
06:49 - The mother-daughter division of business responsibilities
08:12 - Business leadership coaching and staying organized
09:30 - Taking over after her father’s sudden death
11:18 - Cross-training that kept the company running
12:13 - Learning the regulatory side and ISO certification
13:26 - Trusting employees to do their jobs
14:51 - Family background, including her brother’s NPR career
16:12 - Dog kisses, balance, and what helps through the day
17:00 - Prioritizing family, business, and school after loss
21:31 - Calendar blocking and disciplined time management
22:04 - Work-life balance as part of company culture
23:52 - Traveling for Hokanson and meeting customers worldwide
29:19 - Learning from experience instead of dwelling on regrets
30:06 - What she has learned from WPO and personnel challenges
34:32 - Working with clinicians and vascular technologists
35:56 - The hardest experience: losing her father and leading on
39:19 - Her father’s warning about keeping innovation alive
41:42 - WPO chapter leadership and peer advisory value
47:53 - Podcasts, Tiny Desk Concerts, and author-read audiobooks
49:53 - Why Meany Center matters to her personally
52:16 - Serving on the gala committee and enjoying the board community
53:58 - Hobbies: dog walks, hiking, and knitting
56:04 - Knitting hats for causes and missing the craft after a broken finger
57:29 - Closing thoughts and looking ahead to future events

Notable quotes

"I trust employees to understand their job and do their job or ask questions if they don't know."

"I don't expect salaried employees to be spending sixty hours a week here."

"I really don't think about regrets. It's sort of like this is what happened and maybe I can learn from that."

Sarah Henry, the second-generation owner of Gaspars Construction, shares her journey of leading a woman-owned residential remodeling company and the challenges she faced.

She discusses her passion for people, the impact of her family background, and the importance of finding the right people for the team.

The conversation covers a range of topics, including leadership, WPO membership, personal passions, and the importance of structure in business. The discussion also delves into the significance of strategic planning and the impact of public speaking.

Takeaways

• Family background and values influence business leadership
• Challenges of running a business in a male-dominated industry Leadership and the responsibility of leading vs. following
• Recommendations for business books and podcasts
• The value of WPO membership and its impact on business
• Personal passions and the importance of structure in business
• The significance of strategic planning and the impact of public speaking

Chapters

• 00:00 The Journey of Gaspars Construction
• 02:19 Motivation to Join the Family Business
• 03:31 Childhood and Early Influences
• 04:20 Career Path and Business Ownership
• 08:19 Dealing with Sexism in the Industry
• 10:38 The Concept of Final Usie
• 11:30 Positive Impact on Company Growth
• 17:46 Regrets and Tough Business Decisions
• 14:40 Business Management and Work-Life Balance
• 22:04 Challenges of Business Growth
• 24:07 Leadership and Responsibility
• 24:35 Business Books and Recommendations
• 25:13 WPO Membership and Impact
• 30:32 Personal Passions and Structure in Business
• 37:13 Strategic Planning and Public Speaking

Meghan Lynch, CEO of Six Point Strategy, shares her journey from mentorship to leadership, emphasizing the value of curiosity, learning, and stewardship.

She discusses the impact of family values, mentorship, and the importance of being present in both business and personal life. Meghan also reflects on the lessons learned from mistakes and the value of taking improv classes for personal growth and business success.

Meghan Lynch shares insights on self-care, leadership, business books, and the podcast she created with her son, Building Unbreakable Brands. She also discusses the importance of brand strategy and the value of WPO in her business journey. Additionally, she talks about her future plans and personal interests.

Takeaways

• Mentorship Succession
• Curiosity and Learning
• Stewardship and Leadership
• Being Present
• Lessons from Mistakes
• Personal Growth and Business Success Self-care is essential for stretching out of your comfort zone.
• Brand strategy is about reputation and trust.
• WPO provides valuable support and guidance for business owners.
• Family business centers play a crucial role in addressing generational challenges.

Chapters

• 00:00 From Mentorship to Leadership
• 02:10 Family Values and Mentorship
• 03:48 Lessons from Childhood
• 05:16 Impact of Mentors
• 06:10 Learning and Curiosity
• 07:34 Business Education and Growth
• 20:00 Discipline and Time Management
• 22:27 Work-Life Balance and Personal Growth
• 25:30 Reflections on Mistakes
• 28:54 Unconventional Business Advice
• 29:51 Self-Care and Leadership
• 31:14 Leadership and Connecting People
• 32:47 Business Books and Podcasts
• 36:19 Family Business Centers and Generational Branding
• 43:49 WPO Support and Future Plans
• 50:05 Personal Interests and Conclusion

Mikaela Kiner, founder and CEO of Reverb, shares the candid story of leaving big corporations to craft a purpose-driven, people-first company that prioritizes work-life harmony. Her journey reveals unexpected lessons about leadership, boundary-setting, and building a culture where everyone thrives—not just survives.

This episode is perfect for entrepreneurs hungry for practical strategies to foster workplace kindness, craft a sustainable business, and leave a lasting positive impact on your team and yourself.

Show Notes

Embracing Purpose and Flexibility in Leadership with Mikaela Kiner

Discover how Mikaela Kiner transitioned from corporate HR to founding Reverb, a company dedicated to creating inclusive cultures, and explore her insights on leadership, and understanding the true purpose behind her business.

In this episode, you will learn:

• Mikaela’s motivation to leave corporate HR for entrepreneurship rooted in seeking authenticity and balance
• The importance of setting clear boundaries and values for sustainable success
• Strategies Mikaela uses for effective delegation and leadership development
• The benefits of cultivating community through retreats and peer groups like WPO

Timestamps:

00:00 - Introducing Mikaela Kiner: leadership, purpose, and organizational culture
02:02 - Mikaela’s journey from corporate HR to entrepreneurship
05:16 - What fuels Mikaela’s fire to be an entrepreneur
09:02 - Reassessing self-criticism through mentorship insights
10:16 - Building a strong team and professional network
14:09 - Business management disciplines and hiring strategies
15:53 - The challenge and ease of delegation
16:47 - Achieving and maintaining work-life balance
20:09 - Regrets in business and lessons learned
21:35 - Setting boundaries and living by core values
22:32 - How Mikaela’s team perceives her as a boss
26:42 - Essential leadership and management books
28:47 - The value of peer groups such as WPO
31:47 - The value of roundtable discussions for peer support
33:50 - Surfing in Costa Rica: a hobby that fosters mindfulness

Resources & Links:

• Female Firebrands by Mikaela Kiner
• Reverb - Creating Inclusive Cultures
• The Leadership Pipeline by Ram Charan
• Multipliers by Liz Wiseman
• The Art of Gathering by Priya Parker
• WPO - Women Presidents' Organization
• Costa Rica Travel Guide

Connect with Mikaela Kiner:

• LinkedIn
• Twitter

The conversation with Divyata Rajaram covers her entrepreneurial journey; motivation to start a business; childhood and early influences; career aspirations; working with a spouse in business; challenges and successes in entrepreneurship; authorship and its impact on business; global business expansion; business management disciplines; and work-life balance and wellness.

Divyata shares insights into her experiences and the intersection of creativity, business, and personal well-being. The conversation covers topics such as leadership, emotional intelligence, creating a happy work environment, challenges of entrepreneurship, agility in small businesses, strategic thinking, long-term vision, benefits of WPO membership, opportunities for women entrepreneurs in Dubai, and promoting literature and cultural advocacy.

Takeaways

• Entrepreneurial Journey
• Global Business Expansion Emotional intelligence
• Agility in small businesses

Chapters

• 00:00 Introduction to Divyata Rajaram
• 05:15 Childhood and Early Influences
• 11:40 Working with a Spouse in Business
• 19:45 Impact of Creativity on Business
• 26:31 Business Management Disciplines
• 32:41 Leadership and Emotional Intelligence
• 38:26 Strategic Thinking and Long-Term Vision
• 46:29 Opportunities for Women Entrepreneurs in Dubai

Rose Cholewinski, a respected businesswoman and community leader, shares her journey of starting and growing a successful swim school business.

Her passion for water safety and dedication to serving the community have been the driving forces behind her business. Rose's commitment to mentorship, business growth, and community involvement reflects her values and leadership style.

The conversation with Rose Cholewinski covers themes of generosity and contribution, demonstrating purpose, water safety and impact, life-saving experiences, business books and learning, and continuous learning, Women Presidents' Organization (WPO), peer advisory groups, future plans and motivation, community impact and swim lessons, and concluding remarks.

Takeaways

• Passion and purpose drive business success.
• Mentorship and community involvement are essential for business growth and impact. Generosity and purpose drive business impact.
• Continuous learning and peer advisory groups are essential for business growth.

Chapters

• 00:00 The Introduction of Rose Cholewinski
• 06:03 Childhood and Family Influence
• 12:06 Mentorship and Support
• 22:43 Work-Life Balance and Regrets
• 28:43 Generosity and Contribution
• 35:10 Life-Saving Experiences
• 41:08 Podcasts and Continuous Learning
• 47:52 Future Plans and Motivation
• 53:06 Concluding Remarks