Building a Financial Team with Tom Anderson

In this episode, we sit down with Tom, a seasoned business advisor with a career that spans over four decades. Starting in the 1980s at a Big Four international public accounting firm, Tom quickly rose through the ranks to establish his own firm, Anderson Business Advisory Services. His journey continued as he joined Tatum as a CFO Partner in Houston and later transitioned to O’Rourke Petroleum, where he excelled as CFO and eventually became President/COO.

Tom shares his belief that accounting is the language of business, emphasizing how mastering this language can significantly enhance understanding of a company's financial fundamentals. He also opens up about his passion for advising business owners and helping them achieve their visions. Tom's greatest strength lies in his ability to connect with people at all levels of an organization, making him an invaluable asset in any advisory role.

 

In this episode, you will learn the following:

• Importance of understanding the specific financial needs of the business.
• Comparison to purchasing assets like trucks or machinery (starting at a fraction of capacity and growing to full capacity).
• Benefits of having an in-house financial role versus renting/outsourcing.
•   Long-term asset suitability versus short-term rental compromises.
• Building confidence and reassurance with bankers through frequent updates.
• Proactively addressing potential banker concerns before they arise.

 

Links:

ferguson-alliance.com

Ferguson Alliance - Family Business Consultants & Advisors | Houston (ferguson-alliance.com)

[email protected]

 

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Is Your Business Exit Ready with Pete Mohr

In this episode, we're thrilled to have Pete Mohr, an expert dedicated to helping business owners turn their frustrations into freedoms. With over 29 years of experience as a business owner, Pete has honed a range of frameworks designed to cut through the chaos and overwhelm of running a business.

Pete's focus is on helping leaders transition from being operators of their business to becoming true owners. Drawing from his extensive background in service and retail, he shares refined tips, tools, and techniques that enable business owners to implement turnkey solutions and achieve the freedom they deserve.

In this episode, you will learn the following:

• Ensuring clarity in all aspects of your business, including processes, people, clients, culture, and financials.
• Prepare your business to be exit ready, enhancing operational efficiency and future planning, whether or not you plan to sell.
• Maintaining clean books and documented processes to improve business efficiency and appeal to potential buyers.
•   Building a diversified client list, recurring revenue models, and a strong company culture to enhance business value and attractiveness.
• Implementing checklists and documented processes to streamline operations, boost efficiency, and prepare for potential sale.
• Engaging with your community to build a positive reputation and contribute positively as a business owner.

Links: 

Email: [email protected]

Linkedin: https://www.linkedin.com/in/petemohr/

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

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

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

Website: https://simplifyingentrepreneurship.com/

 

Other Links if needed:

Twitter: https://twitter.com/SimplifyingE

Website for Shoetopia: https://www.shoetopia.ca/

 

Business Owner Breakthrough Podcast Links:

Apple: https://podcasts.apple.com/us/podcast/business-owner-breakthrough-podcast/id1567456933

Spotify: https://open.spotify.com/show/6Ptf6BD1wrGWRdf9dlnA9W

Google Podcasts: https://podcasts.google.com/feed/aHR0cHM6Ly9mZWVkcy5idXp6c3Byb3V0LmNvbS8xNzgwODg2LnJzcw==

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

3 Profit Levers with Danielle Hendon

In this episode, we're excited to welcome Danielle Hendon, the founder and owner of 4 Corners CFO, a firm dedicated to providing financial advisory services tailored to the needs and budgets of small business owners. With a decade of experience in corporate finance and accounting, Danielle combines her expertise with a passion for helping people, bringing the benefits of "big business" financial analysis to entrepreneurs.

Join us as Danielle shares her journey from the corporate world to founding 4 Corners CFO, and how she now helps business owners increase their personal livelihoods, leave a legacy, and make a lasting impact on their communities. Tune in for valuable insights and practical strategies to elevate your business finances and achieve your entrepreneurial goals.

In this episode, you will learn the following:

• Business owners must be willing to make changes to achieve growth.
• Understanding and mastering finances is crucial for business success.
• Utilizing systems like Profit First can help manage finances effectively.
• Increase profit by raising rates, understanding profit margins, and managing operating expenses effectively.
• A cash flow forecast is essential to predict and manage financial challenges.
• Build efficient systems, monitor balance sheets, and optimize cash flow for business success.
• Seek help from financial experts to improve profitability and financial management.

Links: 

Listeners can connect with Danielle and download a free resource by visiting the following link: https://4cornerscfo.com/profitanswerman

Website: https://4cornerscfo.com/ Facebook: https://www.facebook.com/4CornersCFO Instagram: https://www.instagram.com/4cornerscfo/ LinkedIn: https://www.linkedin.com/in/danielle-hendon/ Link to Danielle's One Sheet: https://thepodwizegroup.com/danielle-hendon

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Escaping the Owner Prison with Richard Walsh

In this episode, we welcome Richard Walsh, a seasoned entrepreneur with over 30 years of experience. As the best-selling author of "Escape the Owner Prison," Richard introduces a groundbreaking approach for contractors to scale their businesses, regain control, and fast-track growth while enjoying life. A multifaceted individual, Richard is also a speaker, podcast host, husband, father of six, US Marine, champion boxer, black belt, and internationally recognized steel sculptor.

Richard's unique expertise lies in blending strategic insights with tactical solutions. He delivers immediate problem-solving results while implementing long-term strategies for systemization and scalability. Throughout his entrepreneurial journey, Richard has mastered the art of time compression, sharing secrets and strategies that bring rapid and lasting results to the companies he collaborates with.

In this episode, you will learn the following:

• Balancing immediate problem-solving with long-term strategic planning.
• Techniques for achieving rapid and lasting results in business.
• Tips on maintaining a healthy work-life balance while scaling a business.
• Insights into achieving rapid growth without sacrificing personal life.
• Identify and eliminate redundancies and inefficiencies within the business processes to streamline operations.

Links: 

LinkedIn: https://www.linkedin.com/in/richard-walsh-866ab237

Website: https://sharpenthespearcoaching.com/

Book: https://www.amazon.com/Escape-Owner-Prison-Contractors-control/dp/1089318901

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

EOS + Profit First with Matt Foss

In this episode, we have Matt Foss, a former owner of two companies, CEO of a private equity-backed business, and a Division 1 football captain. With a diverse background in leadership and a deep understanding of the challenges in building successful ventures, Matt shares his journey of highs and lows, lessons learned, and the pivotal moments that shaped his approach to business and team management.

Matt believes there’s a better way to gain traction. As a natural implementer, he unites people around a clear vision, prioritizing group success over individual acclaim. Matt emphasizes the need for tough conversations, addressing personnel issues with skill and grace. Join Matt as he guides you through the hard work and encourages you to enter the danger zone, where the biggest gains happen. 

In this episode, you will learn the following:

• Fundamentals of the Entrepreneurial Operating System (EOS) and Profit First methodology, and how they can transform a business from a chaotic operation to a well-structured entity.
• The visionary-integrator relationship in business, where visionaries generate ideas and integrators turn those ideas into actionable plans, maintaining order and focus on valuable initiatives.
• Setting clear goals and measurable outcomes for employees, ensuring the right people are in the right seats.
• Impact of structured weekly meetings and scorecards on organizational success.
• Limitations of traditional accounting practices and the benefits of understanding money management and cash flow through the Profit First system.
• Compelling examples of businesses that have successfully implemented EOS and Profit First, underscoring the practical benefits of these systems in enhancing business value and operational efficiency.
• Benefits of EOS in driving business profitability and accountability, including the significance of addressing root causes rather than surface-level problems.
• Utility of tools like ChatGPT for refining business strategies.

 

Links: 

LinkedIn- https://www.linkedin.com/in/mattfoss37/

Website- https://www.eosworldwide.com/matt-foss

Contact info-

Email- [email protected]

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Driving Profit and Cash Flow with Colin Sanburg

In this episode, we sit down with Colin Sanburg, a serial entrepreneur and Founder of FinElevate. This fractional CFO firm helps business owners create data clarity and train their teams while increasing profitability and cash flow. As CEO and owner of manufacturing, distribution, and service businesses, he developed a passion for helping small business owners create better businesses and more freedom.

In this episode, you will learn the following:

• Matching principle to align revenues and expenses accurately.
• Challenges of cash basis accounting for small businesses
• Having the entire team committed to the business's structured processes.
• The value of having an integrated dashboard or scorecard system like EOS.
• Simplified financial analysis through common size percentages. 

Links:

https://www.linkedin.com/in/colinsanburg/

https://www.facebook.com/the.finelevate/

https://www.instagram.com/the.finelevate/

https://www.linkedin.com/company/finelevate/about/

www.finelevate.com

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Learning Business from the Hiltons with Mark Miller

In this episode, we welcome Mark Miller, a seasoned expert in tax and wealth management for business owners. With over 30 years of experience in the tax and financial services industry, Mark has dedicated his career to helping clients grow and safeguard their wealth. He has successfully assisted hundreds of business owners, physicians, executives, and high-net-worth individuals in significantly reducing their taxes. Mark's expertise extends to enhancing and protecting business and retirement assets during both prosperous and challenging times, as well as preserving enduring family legacies.

In this episode, you will learn the following:

• Sophisticated wealth strategies from managing the Hilton family office.
• Acknowledging the two to three-year milestone as vital for a business to start seeing profits.
• The role of passion in business and its necessity for commitment compared to typical employment.
• Adapting to changes in digital marketing, building referral systems, and customer relationship maintenance.
• The benefits of affordable and impactful postcard marketing as a physical service reminder.
• Investing in real estate and congruent businesses for marketing cost reduction and referral opportunity creation.

Links: 

Website: http://hiltonwealth.com

LinkedIn: https://www.linkedin.com/in/markmiller-hiltonfo/

Twitter: hiltonwealth

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

YouTube: @hiltontaxwealthadvisors6590

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Stop Hunting, Start Farming for Clients with Kevin Tacher

In this episode, we feature Kevin Tacher, known as the "Title King™," Founder and CEO of Independence Title Inc. A best-selling author and national real estate speaker, Kevin has been featured on Fox News, NBC, and CBS. He has collaborated with the FBI, Florida's Attorney General, and other agencies to combat real estate fraud in Florida. Kevin is also deeply committed to philanthropy, supporting various non-profit organizations and contributing to causes such as poverty alleviation, child welfare, military family support, and disaster relief. Join us as Kevin shares his insights on real estate and community service.

To learn more about Kevin Tacher, the “Title King™,” and how you can receive a copy of his books, please visit: TitleRate.com, KevinTacher.com or call 954-335-9305.

In this episode, you will learn the following:

• Strategies for financial stability, such as building cash reserves and debt elimination.
• The difference between business operators and owners and the value of systems and processes.
• Tips for effective real estate business approaches such as client 'farming.’
• The benefits of joining the Entrepreneurs Organization (EO) for networking and growth.
• Understand the importance of mentorship and networking with successful individuals for business success.

Links:

https://titlerate.com/

http://www.kevintacher.com/

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Work Outside Your Business with Daniel Truex

In this episode, we sit down with Dan, the dynamic CEO and co-founder of GuardLogic, a rapidly growing physical security company recognized twice on the Inc. 5000 list. Dan's career exemplifies dedication to vision, growth, and strong company culture. Beyond his executive role, Dan serves as the Company Commander for the 940th Military Police Company in the National Guard and a Lieutenant in the Lexington, KY Police Department, with roles as a Detective in the Crimes Against Children Unit and Sergeant in the Special Victims Unit.

We'll explore Dan's leadership approach, his experiences across corporate and military spheres, and his strategies for balancing these demanding roles. Plus, we'll delve into his passion for coaching others in defining and achieving their life vision.

In this episode, you will learn the following:

• Belief in the critical importance of setting clear expectations to avoid damaging relationships.
• Comparison to personal relationships and the impact of unmet expectations on trust and reliability.
• Mutual accountability in maintaining healthy working relationships.
• Vision alignment helps in steering the partnership towards common long-term goals
• Caution against rushing into business relationships without proper understanding and alignment.

Links:

LinkedIn: https://www.linkedin.com/in/daniel-truex-50871a13a/

Email: [email protected]

Website: www.trueXponential.com (this site will be active prior to the scheduled podcast.  It is my coaching/blog platform)

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up This episode is part of the SMB Podcast Network. Find other great interviews from around the internet just like this one at https://www.SMBPodcastNetwork.com Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Lessons from a Serial Entrepreneur with Joel Primus

In this episode, we feature Joel Primus, an entrepreneur and the co-founder and creative visionary behind Naked Revival.  Currently, Joel hosts The Ramble Podcast, where he has unbound and uncensored conversations about people, places, pursuits, and performances. He is the director and producer of multiple documentaries and docu-series including the award-winning Raising Global Citizens, Finding Nowhere, Colombia, and Revive, and the Author of Getting Naked - The Bare Necessities of Entrepreneurship and Startups. He shares his thoughts and adventures on the joelprimus.com blog.

Once an elite long-distance runner, he now enjoys daily training, meditation, and time with his family on their farm outside Vancouver. 

 

In this episode, you will learn the following:

• The importance of having sufficient money and cash resources for enduring and adapting to business challenges.
• Utilizing platforms like Kickstarter to pre-sell products can help mitigate financial risks for new businesses.
• Partnering with manufacturers to negotiate favorable terms can help maintain cash flow.
• Cash flow management strategy for enduring early-stage business challenges.
• Employing various strategies to adapt to market conditions and financial constraints.

 

Social media, and links:

Official page: https://joelprimus.com/  https://www.nakedrevival.com/  Instagram: https://www.instagram.com/joel.primus/ https://www.instagram.com/nakedrevival/ Getting Naked - The Bare Necessities  (Amazon) Raising Global Citizens Documentary

 

 

Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz

Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: [email protected] Email: [email protected] Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up This episode is part of the SMB Podcast Network. Find other great interviews from around the internet just like this one at https://www.SMBPodcastNetwork.com Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst