Season 3: Ask the Experts

032: Running Your Business By the Numbers

“Don’t be flashy” when operating your business warns seasoned commercial lender, Charles H. Green.  Armed with 38 years of experience in funding small businesses, Charles knows plenty about running a business by the numbers and not by hunches.  In this episode, he stresses the importance of being able to interpret your financial statements to understand your company’s financial story so that you know where to focus on improving.  Discover what the 3 big categories of financial health metrics are, how it’s possible to be profitable but not have any equity or cash flow, and why an Excel spreadsheet can be more useful than bookkeeping software.  As a former president and CEO of a bank and the author of several bestselling books on small business finance, you definitely don’t want to miss the sage advice Charles offers!

Special Guest: Charles H. Green, Vice President/Business Development Officer for First Bank Financial Centre

Show Notes:

Related Episodes:

  • Episode 008: The Lean Methodology: What It Is & How to Apply It to Your Small Business Lean
  • Episode 014: Dispelling 4 Common Entrepreneur Myths about Business Growth
  • Episode 015: How I Use Business Infrastructure in My Restaurant

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031: Brainstorming Your Million Dollar Idea

Kymone Hinds is in the business of helping people get stuff done!  As an implementation strategist, he prides himself on bringing ideas to life.  Every solution to a problem and every business starts with an idea, so it’s important to jot them all down no matter how far-fetched they may seem.  In this episode, Kymone explains his 4-stage ideation process for vetting and focusing on which ideas will yield the best results.  Find out how ideas are like Now & Later candies and why you should start small with a big vision when executing.  You definitely don’t want to miss this episode – you could be sitting on your million-dollar idea.

Show Notes:

BONUS:

Related Episodes:

  • Episode 011: The Benefits of Backpacking on Your Small Business
  • Episode 017: How Traveling Can Lead to Self-Discovery & Business Evolution
  • Episode 026: Finding Your Niche to Build an Empire
  • Episode 029: Minimizing Risk with Decision Science

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030: Connecting Your Software for Maximum Productivity

There’s nothing more frustrating than to invest in a newer software technology only to discover that it does not “play nicely” with your existing software.  In this episode, software and web developer Garrett Massey talks about the benefits of middleware as a cost-savings solution to facilitate communication between software.  Listen as he reveals a 4-step process to guide you through mapping how information should flow in your service or product delivery.  This will empower you in making wiser decisions before you invest in that next shiny new piece of technology you’re considering.  Hint: evaluate before you automate!

Special Guest: Garrett Massey, Founder and President of Eyesore, Inc.

Show Notes:

  • Farapp – high Quality, Customizable Connectors for NetSuite, 3dcart, and more
  • LinkedIn Groups – join a group representing your industry and ask members for advice on how they handle middleware situations
  • Undisturbed REST: A Guide to Designing the Perfect API – download a free report from MuleSoft on best practices around how to plan, design, build, manage and share your API

Related Episodes:

  • Episode 010: Cybersecurity & Small Business: What You Need to Know for Maximum Data
  • Episode 018: How AI Technology Can Scale Your Small Business
  • Episode 029: Minimizing Risk with Decision Science

 

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029: Minimizing Risk with Decision Science

Making decisions is risky business.  As a small business owner, you might not have the deep pockets of a larger enterprise, so making the right decision the first time around can be critical.  Decision science gives you the ability to compare multiple ways of solving a problem with the opportunity to add value while minimizing risk and bias.  This is Rob Brown’s specialty.  In this episode, Rob shares a four-step process to follow that will help you make decisions based on logic and not emotion.  Through specific examples, he describes how to use this four-step process to yield the best outcome.  Tune in to learn the difference between a decision and an outcome and why, as Rob says, “risk is always in season.”

Special Guest:  Robert D. Brown III, President & Founder of Incite! Decision Technologies

Show Notes:

BONUS:

The TED Talk below features Yassmin Abdel-Magied who gave a powerful presentation on unconscious bias and how it affects our decisions.  She not only shares her personal story, but also the 1952 Boston Symphony experiment where they began conducting blind auditions as an attempt to minimize gender bias.

Related Episodes:

  • Episode 010: Cybersecurity & Small Business: What You Need to Know for Maximum Data Protection
  • Episode 014: Dispelling 4 Common Entrepreneur Myths about Business Growth
  • Episode 018: How AI Technology Can Scale Your Small Business

 

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028: Managing Virtual Teams in a Freelance Economy

According to global freelance matchmaker, Upwork, 57.3 million people freelanced in 2017.  In 10 years, they predict that the majority of the U.S. workforce will be freelancers.  As a small business owner, this means you will likely have more freelancers rather than employees performing work for you.  Managing these dispersed, virtual teams can be challenging.  This is where Sherry Heyl comes in.  In this episode, Sherry shares how she was inspired to start Amplified Concepts as a share economy solution for freelancers.  By pooling freelancers, she’s able to provide them back-office support resulting in reduced overhead for them and reduced project costs for you.  She also shares best practices for managing virtual teams of freelancers so important deadlines are met without sacrificing quality.  You’ll definitely want to download this episode!

Special Guest: Sherry Heyl, Founder of Amplified Concepts

Show Notes:

    • What Exactly is the Sharing Economy? – an article describing the various types of “new economies” including share, freelance and gig economies
    • SherryHeyl.com – Sherry’s site highlighting her professional skills
    • Why Hire Us – get help managing your team of freelancers
    • Freelancers Union – promotes the interests of independent workers through advocacy, education, and services
    • Fiverr.com – on-demand freelance services
    • UberConference – communicate seamlessly with your freelance team with state-of-the-art conference calling features that integrates with several apps like Slack, Salesforce, and LinkedIn
    • Upwork – find and vet premium freelancers for your next project

 

Related Episodes:

  • Episode 007: Staffing Up While You Scale Up: Tips for Getting the Help You Need When You Need It
  • Episode 012: How to Find the Right Person for Your Process Improvement Initiative
  • Episode 023: Attracting Top Talent to Your Small Business
  • Episode 026: Finding Your Niche to Build an Empire

 

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027: I.P. Protection for Business Processes

Can you keep a secret?  Your answer to this question can determine your ability to capitalize on your company’s intellectual property (I.P.).  In this episode, seasoned patent attorney Steve Wigmore breaks down the different types of I.P. using examples of well-known brands.  There is both monetary and intrinsic value in your ideas and Steve offers guidance on how to choose among trademarks, trade secrets, patents and copyrights to protect your ideas.  In fact, your I.P. is a part of your small business’ asset portfolio.  Even intangible assets, like business processes, can be protected, especially if tied to technology.  If you own a service-based business, you’ll definitely want to hear what Steve has to say!
Special Guest:  Steve Wigmore, Esq – Partner at Smith Tempel and former U.S. Patent Examiner
Show Notes:

Related Episodes:

      • Episode 003: Who Exactly Is Business Infrastructure For?
      • Episode 008: The Lean Methodology: What It Is & How to Apply It to Your Small Business
      • Episode 009: Business Coaching vs. Consulting: 9 Tips for Choosing the Right Type of Guidance
      • Episode 018: How AI Technology Can Scale Your Small Business

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