Brien's Business Umbrella--NO Value-Added (WRONG!) Business Advisory: Recent Episodes
Timothy Brien
This podcast will be a teaching, and hopefully entertaining vehicle whereby I will give brief business tips on topics I receive questions most often about and that I believe are valuable to my clients and partners and hopefully to everyone. As it evolves, I will add guests and intend for the first half of the interview to be about their business or vocation and the second half to be their choice, can continue to be about the business or it can be personal, sports, funny, NO politics.
Are you unsure what field you would like to move towards when starting your career? You're not alone, and my guest on this week's podcast episode, Anthony Mussachio, was in the same boat earlier in his career. Not only was he not positive he wanted to follow in his father's footsteps, he confesses to still wondering if he should have (tongue-in-cheek, of course). Yet, his brother and he head a wildly successful Architecture Firm.
As mentioned, Anthony Mussachio, R.A. is a Principal at Mussachio Architects in Buffalo (Williamsville), NY, where he and his brother are partners. Anthony started as a clerk at the firm, which was founded by his father, and worked his way to ownership. He has served as Managing Partner for decades.
Anthony's 37 years of experience in all aspects of architecture includes everything from small residential to signature corporate offices, retail, hospitality, industrial, and most recently, multi-story hotels and senior living facilities. He is licensed in New York, New Hampshire, Colorado, and West Virginia.
Mr. Mussachio is a longtime member of the National Trust for Historical Preservation and he has served as Chairman of the Amherst Chamber of Commerce, as well as Chair of the Taste of Buffalo Logistics Committee.
Need help finding the perfect location for your venture? Don't go it alone, get help with a Real Estate Broker to help find it, negotiate terms, all the behind-the-scenes items to make it successful for you.
This episode is with such a business person, Joe Farrauto, a Licensed Associate Real Estate Broker with HUNT Commercial. He has been with the company for more than 12 years, and has specialized in commercial and residential real estate for nearly 20 years.
Joe is an integral member of the most experienced commercial real estate firm in Western and Upstate New York. HUNT has been providing comprehensive solutions since 1911.
Mr. Farrauto is a graduate of Buffalo State College and routinely helps business owners find their perfect start to conduct business, a key aspect of establishing your business -- LOCATION!
Not sure where to start or how to navigate the legalese of creating your own business, bringing on a partner, or your next business maneuver? Then, this episode is for you as I spoke to Keith Wesolowski, "Counsel to the Entrepreneur".
Keith is the Founder and Principal of Wesolowski Law Group, PC, a law firm focused on advising small business leaders and entrepreneurs.
Prior to founding his own firm, Keith practiced law at one of America's oldest law firms, Cadwalader, Wickersham & Taft, LLP, in New York City and Washington, D.C.
He is also a former retail business owner, which gives him added insight into the needs of his business clients.
Mr. Wesolowski graduated from Yale University and received his Law Degree from William & Mary Law School. He is admitted to the Bar in New York, Tennessee, Washington, D.C., and the Sovereign Courts of the Seneca Nation. Keith also serves on several boards in Western New York, and an advisory board at Yale.
Need to update your decor? Looking for awesome furniture pieces or a design for your new project? Look no further than Michael P Design and Room Buffalo in the revitalized section of Hertel Avenue in Buffalo, NY.
A proud military veteran, Michael has built his successful business from the ground up and shares his experiences, both good and not-so-good, that helped shape the successful business he has built.
This is another terrific, interesting interview to learn what another successful entrepreneur endured in order to reach the level of success they have obtained. This one is fast-paced. Give a listen and make sure to visit Michael P. Designs / Room Buffalo on Hertel Avenue soon.
Is it great there? HINT: we can't walk by without my wife needing to go in anymore. So, yes!
(As mentioned previously, I'm a man of the people and normally bring the interview to the person. This is another onsite interview and when you're at a vibrant, hustling and bustling store, you can't make it stop being what it is and stop the hustling and bustling - and you don't mind because they have a great atmosphere).
Are you just starting out, learning the ropes, not following advice or even know what advice to follow?
That's how this week's guest, Shawn Bailey, Owner of Bailey Brothers Landscaping, started his business, but learned from his mistakes and what worked, while finally accepting some help from more experienced business people to be in a position to share what he learned today to help you bridge the gap from Point A to Point B.
Shawn gives some great tips that would be useful for any business owner but especially beginners in the contractor service arena.
(Being a man of the people and working with many businesses in the contractor services industry sometimes we do the interview onsite and end up with a little background noise, not much but some. This is one such interview. It doesn't affect the sound OR, more importantly, the terrific tips shared).
This week's NO Value-Added episode is another excellent topic, inspired by none other than a friend's Facebook meme RE: Covid vaccination. We don't touch on political or health topics in this podcast but knowing what I know as an amateur beekeeper, I know the picture was not entirely accurate. Listen to find out more.
The premise and content of the episode touches on what I learned, implement in my business, and teach my partners how to implement in their businesses based on the book, Clockwork, by Mike Michalowicz. I briefly describe what the QBR (Queen Bee Role) is, why it's so important, and how to preserve it, as well as the proper 4D Mix (Doing, Deciding, Delegating, Designing) to make your business function optimally and become scalable.
A business must define what it's most important, money-making function is (the QBR) and defend it at all costs to make sure the business remains sustainable.
Are you just starting out in your business? Do yourself a favor and listen to this week's episode, a candid interview with Jesse Gooch, owner of Painters Plus, with locations in North Tonawanda, NY in WNY and Florida. Click HERE to go to their website. They take the "PAIN" out of painting!
Did you know? Besides having a wildly successful painting company right here in WNY, Jesse and his company also:
Does charitable work called Project Hope where he paints the exterior of someone's house, normally a Disabled Veteran, that is selected, entirely for FREE?
Is the Founder, Main Sponsor, and runs the Thursday on the Water FREE (YES, I said FREE) Concert Series at Gratwick Park in North Tonawanda that is still running for the next three (3 GREAT shows as far as this podcaster is concerned, including Grunge Night!) weeks at the airing of this episode (through the end of August). Check out the remaining lineup HEREListen to hear how Jesse went from an errand boy in a painting company to the success he has today -- what worked, what didn't work, the successes, the pitfalls.
If you don't know Jesse Gooch, you should. This is one of my favorite interviews and one of the easier ones. All I had to do is say, are you ready? and Mr. Gooch gives one great story after another before the question is finished AND the tips are priceless. They can really help a younger company bridge the gap going from startup to success.
Are you struggling to see a profit? Do you work incredibly long hours but still see nothing favorable in YOUR bank account? If this sounds familiar, you probably are not taking your Profit First and instead following the traditional accounting equation.
This episode is an edited, better version of one of my beginning episodes of this podcast that BY FAR had the most engagement and tied for the most views. It's an awesome topic and one I get excited about.
I wouldn't normally mention this, but as it is was originally recorded almost 2 years ago, (for those who don't know I have authored a book) it mentions my business book that was about to launch and eventually became a #1 Best Seller on Amazon and is still going strong, Building a Better Business: A Guide to Sustained Growth. You can get it on Kindle (FREE if you have Kindle Unlimited) HERE. If you'd like the paperback copy, email me and say you heard about it on this podcast and I will send you a complimentary copy, you just pay for shipping.
Please listen to and enjoy this episode, it lays a great framework for how to invert the components of the accounting equation to make sure you get paid first, and in doing so become more innovative and efficient. These are services I provide to help other businesses. Call, email, or schedule an appointment for more details.
Am I making money? Is it worth it to continue providing this product or service? Is that ad we made last week working? There's a KPI (Key Performance Indicator) for that, and many more similar questions.
The KPI digs deeper into the numbers than that reported on your basic Accounting Statement and helps you see clearly what is working and what isn't in order to make decision making easier.
They give us an opportunity to regularly look at different aspects of your business at a point in time to give guidance as to what should be looked at closer in order to function smoothly, properly, and efficiently.
How would you like to have an extra $50,000? What would you do with that? What is your $50,000, or equivalent? If you had a legitimate opportunity, or if an equivalent situation presented itself, would you ask for it?
People, by nature, fear rejection, so they sometimes forego asking questions or make requests that could bring about positive, life-changing results, worried that the answer might be no.
This episode details how I convinced a client to ignore her fear and make such a request. The result, a $50,000 monkey off her back!
Are you where you want to be at the break? Are you continuing to focus on the goals you set at the beginning of the year? This episode is about focusing positive energy towards the direction you want to go and your goal.
Focus and positivity leverages energy to get to exactly where you want to go. Harness this positive energy appropriately and nothing will be able to stop you. Stay laser-focused on positive things and where you want to go, NOT negative things and what you don't want to happen.
Get out there and stay positively focused!
This episode focuses on the upcoming changes to the 2021 Child Tax Credit and what to expect since most taxpayers will receive 50% of that in advance. The information for this advance is based on your 2020 tax return if filed; otherwise, the 2019 return.
So, if there is information that the IRS needs to be notified that will be different in Tax Year 2021, such a newborn, or claiming a dependent in 2021 that you did not in 2020, they have developed a portal for you to input these changes, called the Child Tax Credit Update Portal, or CTC UP.
The web address is complete these updates is
www.irs.gov/credits-deductions/child-tax-credit-update-portal.
Who doesn't want to stop worrying about money and whether you can do something or not? I know I don't want to worry about that, living paycheck-to-paycheck. That's why I help small business owner's scale their business properly in order to become financially free; thereby, opening up more time to do what they want.
With financial freedom comes time freedom and the ability to spend your time the way want to, whether it is to do more or something different professionally, or on a personal level. The choice is yours once you secure these freedoms.
Opportunity Costs is, by definition, is is simply the loss of potential gain from an alternative that could have been chosen when a different alternative is selected. In other words, it is the value of the next best alternative, or option, that can be measured in money, time, or satisfaction.
Calculating Opportunity Costs helps you make sound business decisions on which tasks to keep in-house and which projects to take on. It is, by far, my favorite Accounting topic and the lifeline of any business.
Would you rather save time OR save money? Why choose when you can do BOTH? That's right you can save TIME, MONEY (including MAKE MORE MONEY), and AGGRAVATION by outsourcing certain NON-CORE tasks within your company.
Brien's Business Umbrella helps companies with OUR PASSION for Accounting and other Back Office solutions allowing our partners to FOCUS on what they have a PASSION for.
We do what WE LOVE so you can do what YOU LOVE!
This episode gives a brief overview of what is necessary to be eligible for the 2nd Round of PPP Loan funds and the information you will need to determine the amount of your loan with supporting documents.
Today's podcast episode focuses on not only paying yourself first but going a step further and keeping the money that you pay yourself in your own portfolio and not giving it away to banks, finance companies, etc. THIS is how the wealthy become wealthy. Good, sound, legal financial practices. Pay yourself, spend you money while recycling your money!
Consider matching a "challenge" by donating to your city's (Buffalo is mine) City Mission to help our fellow humans who may be less fortunate or need a little help, especially around Thanksgiving and Christmas!
Today's episode touches on staying the course and making an effort to follow your plan as outlined and designed, giving it time to fully develop and work as intended.
Consider matching Brien's Business Umbrella and donating to your city's City Mission to help feed those in need all the time but especially now around Thanksgiving and Christmas.
"You miss 100% of the shots you don't take." --Wayne Gretzky. Similarly, if you don't ask or request what you want or desire, you are not giving the other party an opportunity to say "YES!".
Hear how my asking a simple question made me $45,000 in one day and over $175,000 in the course of 10 1/2 years doing no extra work (including bonus), just asking a simple question. Learn to build your value, support it, and confident asking for your worth.
There are THREE (3) Ways to Grow a Business: (1) Increase Customers; (2) Increase the Value of Transactions; (3) Increase the Frequency of Purchases.
Most business owners focus on #1 as it is integral to growth but also the most time consuming and expensive. The other two focus on focusing on your existing customers and costs significantly less. Today's episode focuses on #2--Increasing Your Transaction Value.
When you partner with my firm, we get your Back Office processes under control, then move forward with a SWOT analysis--Strengths, Weakness, Opportunity, Threats. You should always play to your strengths while minimizing your weaknesses. Trying to continually do something that you are weak at, or not good at, breeds uncertainty, even sadness, frustration, and ultimately fear--it becomes an albatross. It's OK to let it go. You are not giving up, just acknowledging that something (Accounting, for instance) is not your strong suit--so you delegate it or outsource it to open up more time to concentrate on your strengths.
It may be you are even decent, good, or strong at Accounting but if it pulls you away from the core competencies of your business, then it is a weakness (as far as your business goes, this is an important concept)! TIME, as we learned in my very first podcast episode, is our most valuable asset and is fixed, so anything that pulls you away from your core competency is a weakness and stunts your company's growth. LET IT GO!
Partner with my firm to take the step(s) to the next level and grow while I Do What I LOVE So YOU Can Do What YOU LOVE!
Creating a Push-Button Atmosphere in Your Business means making sure all your processes are documented for training purposes so that your employees can learn them and become more empowered within their position to own the process and make more and better decisions, allowing you to get out of the business and work ON the business.
This episode touches on the higher-level services I provide to my business partners in order to streamline processes, become more lean, while getting the business owner out of working in the business and working on the business through automation, delegation, and creating a push-button atmosphere so it is not imperative that they are there for the business to run.
Do more Designing and Delegating, while doing less Deciding and Doing in order to build the type of business you want.
The current situation surrounding the pandemic and coronavirus has shown the need for many Small Business Owners to get Back to Basics and get their Accounting and Back Office tasks running smoothly and properly. This episode elaborates on that.
To Schedule a Call for help, visit my website and Book a Strategy Call at www.briensbusinessumbrella.com.
This episode touches on advanced concepts on how to price and packages your services, build in value, and why giving your prospective clients choices is so important. It is just a high level peak into the premise and theory behind pricing but something that is part of my menu of services for those that select that that Add On and are comfortable trying to implement it. It is a proven methodology as evidenced by companies such as Dell, Apple, and Brien's Business Umbrella.
As I deal with Startup and Small Businesses as my niche, it is important to have paperwork and procedures in place to outline and detail exactly what work will be done and for what price. As an engagement goes on the client or customer becomes comfortable with you and tries to add in extra "small" items or projects outside the scope of the agreement, imposing on your time and profitability.
This episode describes a couple of my day-to-day items that help add to my efficiency, productivity, and, ultimately quality when dealing with multiple clients. They can be useful to yo as well or used in order to personalize/customize to make them your own.
Whether you are an employee, a business owner, a parent, or husband/wife/partner--communication is key to success in every facet of your life. This NEW episode expands on that and how easy it is to relieve a lot of stress in your life by doing so regularly and productively.
This episode is more of an introduction to myself, my business, more personal and more insight about me.
Pinpointing Updates including Refund Transfer Program, Paperless Client Portal, Payroll Setup Offer, and the Referral Program.
An excellent episode touching on what I learned, implement in my business, and teach my partners how to implement in their businesses based on the book, *Clockwork, by Mike Michalowicz. I briefly describe what the QBR (Queen Bee Role) is, why it's so important, and how to preserve it, as well as the proper 4D Mix (Doing, Deciding, Delegating, Designing) to make your business function optimally and become scalable.
Starting a business can be difficult and expensive depending on the industry. My niche within my Business Advisory / Accounting practice is with Contractors and Landscaping business, so there is Inventory, Equipment costs to consider. I know the costs and barriers as I have become a #1 Best Selling Author within the "Starting a Business" category with my new book, which can be found by clicking HERE.
In this episode find out how to start your own business in a low cost, low barrier entry industry. For more information, click HERE to learn more about this option.
I follow and teach my clients willing to take on advanced concepts a Profit First Methodology, taking Profit First and flipping the traditional Accounting Equation to instead read, Revenue - PROFIT = Expenses.
Defines Sunk Costs, and how they are VERY VERY bad and should be taken out of the decision-making process. Most Business Owners get this wrong.
With each decision we make, we choose not to select another alternative. How much does that cost? Is the choice you made the best, most profitable choice? When you utilize and understand Opportunity Costs, you come closer to knowing you made the correct decision.
About as close as you get to answering, "What's in it for me?"
Episode 4 (I promise to stop pacing) -- A brief, yet powerful, reminder how important it is to think positive, think abundance, and how these factors help us overcome fear and attract what we want. LEAD WITH LOVE!
A brief overview of how we must build our value in our client's eyes but that each client values items differently so we have to have fully customizable packages in order to get the maximum price we can from an engagement.
Insight into how and why I came up with my Podcast name and the answer to a question I was asked as a guest on a Podcast as to the mistakes that I see Small Business Owners make when trying to do the Accounting/Bookkeeping functions on their own.
This is my Podcast Premiere. My firm, Brien's Business Umbrella, Inc, is a virtual, National, Business Advisory firm that helps clients with Strategic Solutions for Their Unique Needs via Back Office platforms such as Controller-ship, Account, Payroll, Tax Planning and Preparation, etc. We help our clients save Time, Money, and alleviate Stress/Headaches.
This short episode focuses on why I feel TIME is the most valuable, yet underappreciated resource we have and why DIY Accounting/Bookkeeping is immensely detrimental to a business.