Financial Statement Secrets To Increase Profitability | The Business Coach

#Entrepreneur #Business #pMaui Mastermind #Entrepreneurship #Marketing #Growth #Small Business Tips #Entrepreneur Advice #Business Growth #Marketing Strategies #Profit Strategies #Business Freedom #Success Stories #Financial Planning

22:49

Jonathan Jones is an NFL cornerback for the Washington Commanders who rose from the undrafted ranks to become two-time Super Bowl champion with the New England Patriots, a businessman, philanthropist, and licensed pilot. In 2019, Jonathan founded the Jonathan Jones Next Step Foundation in 2019, a platform dedicated to empowering youth through education, professional development, and mentorship. The foundation works to alleviate food insecurity, promote women in stem and sports, and to promote professional development in the communities where he lives. Jay and Jonathan talk about investing in the communities they live in, acknowledging the people who helped you become the person you are, and paying that same investment forward to the next generation. Episode Chapters 0:00 intro 1:24 Building local connections 4:25 Jonathan’s mentors and mentees 10:54 Jonathan’s pride in his mentees’ successes 13:04 how Jonathan chooses his causes 14:08 Jonathan’s support for girls and young women 17:19: Jonathan’s passion for flying 19:40 The Next Step Foundation 20:29 Goodbye For video episodes, watch on www.youtube.com/@therudermanfamilyfoundation Stay in touch: X: @JayRuderman | @RudermanFdn LinkedIn: Jay Ruderman | Ruderman Family Foundation Instagram: All About Change Podcast | Ruderman Family Foundation To learn more about the podcast, visit https://allaboutchangepodcast.com/ Looking for more insights into the world of activism? Be sure to check out Jay’s brand new book, Find Your Fight , in which Jay teaches the next generation of activists and advocates how to step up and bring about lasting change. You can find Find Your Fight wherever you buy your books, and you can learn more about it at www.jayruderman.com .…

The Business Coach « »
Financial Statement Secrets To Increase Profitability | The Business Coach - Episode 34

год назад 1:04:11

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Ready to master your finances and take control of your business’s financial future? Join us for this insightful interview with Rich Wood, a top business coach with Maui Mastermind, as we uncover the secrets to effective financial management. Learn the strategies that successful businesses use to streamline finances, maximize profits, and build lasting financial stability. Whether you're an entrepreneur or a seasoned business owner, these insights will empower you to make smarter financial decisions for growth.
Watch now, and don’t forget to like, comment, and subscribe for more essential business advice!
#BusinessFinances #FinancialMastery #BusinessGrowth #FinancialManagement #MauiMastermind #Entrepreneurship #BusinessPodcast #FinanceTips #ProfitMaximization #SmallBusinessSuccess #BusinessCoaching #FinancialStrategy #WatchNow #SubscribeNow #SmartFinances #RichWood
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Website: mauimastermind.com/
Facebook: facebook.com/MauiMastermind/
Instagram: instagram.com/mauimastermind/
LinkedIn: linkedin.com/company/maui-mastermind

55 эпизодов

The Business Coach

Financial Statement Secrets To Increase Profitability | The Business Coach - Episode 34

The Business Coach

published год назад

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The Business Coach

1
How To Inspire, Engage, and Align your Team To Grow Your Business | The Business Coach - Episode 56 46:12

2 дня назад46:12

46:12

Join David Finkel and Maui business coach Jen Frigault in this episode of The Business Coach Podcast as they explore how to inspire, engage, and align your team effectively. They discuss the significance of treating team members as paid volunteers, the importance of transparency and communication, and delve into ways to recognize signs of disengagement. Learn actionable tips on fostering employee development, financial information sharing, and hosting interactive activities to boost morale. Whether you are a seasoned business owner or in the growing phase, this episode equips you with strategies for building a motivated and cohesive team. ----- 00:00 Introduction: Treating Employees as Volunteers 00:30 Welcome to The Business Coach Podcast 01:06 Meet Jen Alt: Business Coaching Expertise 01:24 Understanding Team Disengagement 02:03 Engaging and Aligning Your Team 02:15 Warning Signs of a Disengaged Team 02:23 The Importance of Transparency and Communication 02:35 Real-Life Examples and Client Success Stories 02:55 Personal Insights and Practical Advice 04:37 Identifying and Addressing Retention Issues 06:02 The Role of Emotional Intelligence in Leadership 07:03 Building Strong Relationships with Key Team Members 08:59 Treating Employees as Paid Volunteers 10:12 Increasing Transparency and Communication 11:52 Employee Development and Growth Plans 12:17 The Power of Sharing Information 15:54 Financial Transparency: Risks and Rewards 23:15 Effective Financial Communication Strategies 23:54 Sharing Metrics and Goals with Clients 26:54 Inspiring Through Authenticity and Transparency 28:24 Building Relationships Through Team Involvement 29:37 Creative Ways to Boost Team Morale 31:23 The Pitfalls of Monetary Incentives 34:58 Aligning Teams for Better Collaboration 42:33 Final Thoughts and Practical Tips ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
What Its Actually Like To Own and Owner-Independent Business | The Business Coach - Episode 55 46:38

9 дней назад46:38

46:38

In this insightful episode of The Business Coach Podcast, host David Finkle is joined by entrepreneur Mark Watson to explore the intricacies of building a level 3, owner-independent business. Mark shares his journey from real estate investments to managing multiple successful enterprises, emphasizing the challenges and strategies for achieving owner independence. They discuss critical topics like the psychological motivations behind business drives, maintaining a work-life balance, and the importance of grounding business endeavors in core personal values. Whether you’re aiming to scale your company or align your entrepreneurial activities with what truly matters, this conversation offers valuable lessons and actionable insights. 00:00 Introduction: The Need for Business 00:25 Welcome to The Business Coach Podcast 00:55 Meet Mark Watson: Serial Entrepreneur 02:12 Journey to Level Three Business Ownership 03:44 The Importance of Taking Time Off 06:27 Challenges and Misconceptions of Level Three Businesses 10:54 Lessons Learned in Business Leadership 14:07 The Value of Direct Communication 20:23 Managing High-Functioning Teams 23:41 Mentorship and Business Insights 24:21 Financial Independence and Business Pressure 27:19 Personal Drives and Motivations 29:27 Balancing Faith, Family, and Business 35:34 Daily Disciplines and Practices 39:38 Final Thoughts and Reflections ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Succession Planning Secrets For Business Owners | The Business Coach - Episode 54 37:53

16 дней назад37:53

37:53

In this week's episode of The Business Coach Podcast, host David Finkel discusses the crucial topic of succession planning with esteemed attorney and personal friend, Alan Gassman. With over 35 years of experience in estate planning and asset protection, Alan shares practical insights that every business owner needs to consider. They cover real-life scenarios where businesses faltered due to lack of preparation, the importance of having non-compete and non-solicitation agreements, and three simple but powerful steps to ensure your business can survive in the event of incapacity or death. Don’t miss Alan's final thoughts on the emotional and practical imperatives of succession planning. 00:00 Setting the Stage: The Importance of Succession Planning 00:34 Introduction to the Business Coach Podcast 01:04 Meet Alan Gasman: Expert in Estate Planning 01:35 The Critical Need for Succession Planning 05:26 Real-Life Examples of Succession Planning Failures 09:51 Steps to Effective Succession Planning 20:38 The Role of Non-Compete and Non-Solicitation Agreements 30:45 Final Thoughts and Actionable Steps 36:49 Conclusion and Takeaways ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
The True Cost of Not Staying the Course | The Business Coach - Episode 53 18:41

24 дня назад18:41

18:41

In this episode of the Business Coach Podcast, hosted by David Finkel, CEO of Maui Mastermind, we delve into the common issue business owners face known as the 'fix and fade dilemma.' David explains how many business owners, after identifying and solving a problem or seizing an opportunity, often neglect to operationalize and culturalize their solutions, leading to recurring issues and stagnation. Learn about the importance of systematizing and embedding solutions into your company culture to break through growth ceilings and achieve sustainable success. David also shares real-life examples and actionable insights to help you and your leadership team implement these practices effectively. ------- 00:00 Introduction to the Business Coach Podcast 00:57 The Fix and Fade Dilemma 04:16 Operationalizing Solutions 05:04 Culturizing the Fix 06:03 The Importance of Leadership and Management 13:08 Case Study: Improving Client Retention 16:59 Conclusion and Final Thoughts ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Protecting Your Gross Profit Margin | The Business Coach - Episode 52 16:50

4 weeks назад16:50

16:50

In this episode of the Business Coach podcast, host David Finkel focuses on how to protect your gross profit margin through an insightful coaching session. Addressing the real-life challenges of a coaching client, David examines pricing strategies, the importance of understanding gross profit margins, and key tactics to avoid scope creep. Learn actionable steps to raise prices on low-performing clients and how to effectively sell based on value rather than hours. This episode is essential for anyone looking to build a more profitable and sustainable business. 00:00 Introduction: Understanding Client Pricing 00:38 Welcome to the Business Coach Podcast 01:13 Client Case Study: Gross Profit Margin Challenge 02:14 Strategies to Improve Gross Profit Margin 04:19 Raising Prices for Long-Term Clients 08:14 Switching to Value-Based Pricing 11:28 Avoiding Scope Creep in Fixed-Price Projects 16:06 Conclusion: Protecting Your Business ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Who Should You Hire Next When Growing Your Business | The Business Coach - Episode 51 18:24

5 weeks назад18:24

18:24

In this episode of the Business Coach Podcast, host David Finkel addresses critical hiring strategies for rapidly expanding companies. Drawing on decades of experience, David shares actionable insights from a coaching session with a successful client, emphasizing the importance of sequencing hires and focusing on must-have skills and past performance. Learn how to elevate your hiring success rate by identifying key roles, creating effective job descriptions, and improving your interview techniques. This episode is a must-listen for business owners looking to build a stronger, more independent organization. ----- 00:00 Introduction to the Business Coach Podcast 00:54 The Importance of Effective Hiring 01:59 Prioritizing and Sequencing Hires 04:38 Crafting Accurate Role Descriptions 07:15 Interviewing for Success 08:38 Real-Life Interview Techniques 13:07 Client Success Stories and Feedback 15:22 Reflecting on Your Hiring Success Rate 17:00 Conclusion and Final Thoughts ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Stop Behaviors That Hurt You! | The Business Coach - Episode 50 42:00

6 weeks назад42:00

42:00

In this insightful episode of The Business Coach podcast, host David Finkel is joined by seasoned business coach Jennifer Frigault. Jen brings over 20 years of experience working with diverse companies, from large enterprises to small micro businesses. Together, they address the common challenges business owners face, such as the lack of systems and over-reliance on ad hoc processes, which often result in inefficiencies and frustration. Jen shares a practical three-step process for implementing effective systems, introducing the right tools, and delegating responsibilities. They also explore the importance of creating a work-life balance while scaling your business. Tune in to discover actionable insights on how to grow a more profitable, independent business without sacrificing your time, life, or freedom. 00:00 Introduction to Business Growth Myths 01:01 Meet Jennifer Frigault: Business Coaching Insights 03:55 The Cost of Lacking Systems in Business 09:29 Steps to Implement Effective Systems 14:53 Case Study: Transforming Carl's Business 20:44 Reclaiming Time for Business Growth 22:48 Overcoming the 'I Have to Do Everything' Mindset 25:29 Delegation and Decision Authority 28:21 Implementing Internal Controls 36:43 The Importance of Accountability 40:15 Final Thoughts on Scaling Your Business ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
How I Successfully Scaled My Company | The Business Coach - Episode 49 47:15

7 weeks назад47:15

47:15

Join David Finkel on this episode of the Business Coach Podcast as he sits down with Mark Watson, a successful entrepreneur who transitioned from a large real estate investment trust to building his own real estate empire and multiple operating businesses. Mark discusses his journey, sharing key lessons on scaling businesses, strategic planning, team engagement, and the ultimate business systems that have helped him work less and achieve more. Learn about the practical strategies he implemented to make his businesses more independent and the value of having a supportive entrepreneurial community. Whether you're in the startup phase or looking to make your business less owner-reliant, this episode offers actionable insights to help you build a stronger and more profitable business. Tune in to hear Mark's inspiring story and gain valuable tips for your own entrepreneurial journey. 00:00 Introduction and Host's Opening Remarks 00:56 Guest Introduction: Mark Watson's Journey 03:47 Early Influences and Entrepreneurial Beginnings 05:14 Transition to Real Estate and Early Career 12:31 Building Multiple Businesses 16:22 Discovering Maui Mastermind 22:11 Introduction to Simplistic Processes 22:37 The Importance of Standard Operating Procedures 23:11 Engaging Your Team in Quarterly Planning 24:05 Finding and Sticking to a Solid Framework 25:01 The Role of Owners in Business Stability 25:25 The Power of Consistency in Business Growth 26:16 Task Management and Project Management Tools 27:30 Balancing Work and Personal Life 28:30 Ultimate Business System (UBS) Explained 29:45 Using Technology for Efficiency 35:43 Lessons Learned in Business Growth 40:38 The Value of Coaching and Community 42:40 Final Thoughts and Advice for Entrepreneurs 46:13 Conclusion and Appreciation ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Selling Your Company For Top Dollar Part 2 | The Business Coach - Episode 48 25:55

9 weeks назад25:55

25:55

Join David Finkel and his guest, Rich Wood, in this second part of a series on selling your company. They dive deep into key deal point considerations, the role of NDAs, tactical advice on earn-outs, managing non-compete clauses, and protecting yourself from common games played by professional buyers like private equity groups. Packed with actionable insights for a more profitable sale while securing your interests, don't miss this episode of The Business Coach podcast. 00:00 Introduction to Selling Your Company 00:51 Meet the Hosts: David Finkel and Rich Wood 01:08 Recap of Part One: Strategic Considerations 02:55 Understanding Non-Binding Offers 04:01 Protecting Your Business: NDAs and Non-Solicitation 08:38 Navigating Contractual Games and Working Capital 10:44 The Importance of Financial Reviews and Audits 13:23 Pushdown Accounting and Earn-Out Clauses 20:37 Non-Compete Agreements: What You Need to Know 23:32 Final Thoughts and Key Takeaways ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Selling Your Company For Top Dollar Part 1 | The Business Coach - Episode 47 33:09

10 weeks назад33:09

33:09

In this episode of The Business Coach Podcast, hosted by David Finkel and co-hosted by Rich Wood, the Coaching Director for Maui Mastermind, the focus is on how to strategically maximize the sale price of your company. The discussion covers various aspects such as identifying and preparing for the right type of buyers, the importance of having clean financials, and understanding different sale structures. The episode emphasizes the significance of being proactive rather than reactive when planning a sale, the value of building a compelling business story, and the necessity of having a knowledgeable advisory team. Rich and David also highlight how to avoid common pitfalls and set the stage for a successful sale. The conversation is broken into two parts, with this episode focusing more on strategy, and part two delving into contractual details and post-sale life. ----- 00:00 Introduction and Podcast Overview 00:42 Meet the Hosts: David Finkel and Rich Wood 01:04 Maximizing the Sale of Your Company: Part 1 01:55 Rich's Adventures: Skydiving and Bungee Jumping 04:08 Strategic Planning for Business Exits 09:15 Types of Buyers and Their Impact 12:39 The Role of Private Equity in Business Sales 16:49 Deal Points and Contractual Considerations 24:44 Preparing Financials for a Successful Sale 32:06 Conclusion and Teaser for Part 2 ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
How To Dramatically Increase Profitability In Your Company | The Business Coach - Episode 46 35:52

11 weeks назад35:52

35:52

Join hosts David Finkel and Rich Wood in this episode of The Business Coach Podcast as they dive deep into increasing business profitability. They discuss the importance of looking at your business through a profit lens and provide actionable insights on pricing strategies, managing expenses, and improving supply chains. Learn about the difference between accrual and cash accounting, the pitfalls of scope creep, and the value of strategic expenses. Discover how to make your business more durable, scalable, and profitable without sacrificing your time, life, or freedom. Don't miss this episode packed with real-world advice for entrepreneurs aiming for success. ----- 00:00 Introduction to Strategic Expenses 00:43 Welcome and Episode Overview 00:54 Diving into Profitability 01:38 Common Misconceptions About Profit 04:20 Accrual vs. Cash Accounting 09:08 The Importance of Scope and Contracts 10:23 Cookie Cutter vs. Custom Models 14:30 Effective Pricing Strategies 23:25 Shopping Your Supply Chain 28:42 Strategic vs. Non-Strategic Expenses 33:47 Key Takeaways and Conclusion ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Five Ways to Scale Up Your Sales Capacity | The Business Coach - Episode 45 26:02

12 weeks назад26:02

26:02

In this episode of The Business Coach Podcast, learn five effective strategies to scale your sales capacity without the need for additional hires. Host David discusses how better lead management, tighter qualification processes, strategic hiring, price adjustments, and innovative sales mechanisms can drastically improve your business' profitability. Hear real-life examples and actionable insights to help you maximize your existing sales force, refine your processes, and boost your bottom line. Whether you're dealing with an overflow of leads or looking to refine your sales strategy, this episode provides valuable advice to help you achieve your business goals. ----- 00:00 Introduction and Podcast Overview 00:50 Client Story: Sales Capacity Challenges 02:27 Strategy 1: Effective Lead Management 09:50 Strategy 2: Qualifying Leads Tighter 11:20 Strategy 3: Hiring More Salespeople 16:56 Strategy 4: Adjusting Pricing 18:40 Strategy 5: Changing Sales Mechanisms 22:59 Bonus Strategy: Leveraging Sales Admins 24:08 Conclusion and Final Thoughts ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
Making Sure You Get Paid | The Business Coach - Episode 44 18:49

13 weeks назад18:49

18:49

In this episode of the Business Coach Podcast, host David Finkel explains why efficient collection systems are vital for a successful business. He discusses the often overlooked, yet essential, process of ensuring receivables are collected, emphasizing that failing to collect can be worse than not making sales at all. Using a case study of a law firm, he illustrates how small improvements in the collection process can significantly boost profitability. David provides practical steps to revamp and front-load collections procedures, offering actionable insights to protect cash flow and enhance business operations. ----- 00:00 Introduction to the Importance of Collections 01:50 The Real Cost of Uncollected Receivables 02:16 Case Study: Law Firm's Collection Challenges 04:36 Steps to Improve Your Collection Systems 07:56 Front-Loading Your Collection Efforts 12:53 Dealing with Slow-Paying Clients 15:16 Final Thoughts on Effective Collection Processes ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

1
The One Mistake That Nearly Every Business Owner Makes | The Business Coach - Episode 43 16:03

14 weeks назад16:03

16:03

In this episode of The Business Coach podcast, host David Finkel discusses the common mistake of business owners building their business for control instead of using internal controls. David shares stories and examples to illustrate how to implement effective systems and procedures that keep the business running smoothly without the owner's constant presence. Learn about different types of controls—procedural, visual, and embedded—and discover how to scale your business profitably while reclaiming your time and freedom. ----- 00:00 Introduction: Doubling Sales and Increasing Headaches 00:29 The Common Mistake Business Owners Make 01:12 The Difference Between Control and Business Controls 01:35 A Real-Life Example: Scaling Without Structure 05:33 Building Internal Controls for Scalability 06:19 Examples of Internal Controls 09:08 The Importance of Embedded Controls 12:43 Avoiding the Self-Employment Trap 14:08 Conclusion: Building for Freedom and Growth ----- Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind…

The Business Coach

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5 Strategic Depth Secrets to Scale Growth Opportunities | The Business Coach - Episode 42 21:58

15 weeks назад21:58