Business Numbers Podcast: Recent Episodes
Business Numbers Podcast
Real entrepreneurs discuss what they learned about their business numbers, to help you grow your business. Case studies and actionable stories, not dry theory. Profit, margins and cash flow, not just marketing conversion numbers.
My guest for this episode is Darrell Mander. He's the founder and CEO of Big Flare Digital. His agency helps e-commerce businesses with profit-focused, pay-per-click ad campaigns on multiple different platforms.
In this episode, I'm interviewing Nathan Hirsch from EcomBalance and AccountsBalance. We're talking about making bookkeeping work for you, the business owner. It means less hassle and better reports for running your business without trying to turn you into a bookkeeper.
My guest for this episode is Itamar Marani from ItamarMarani.com. He's a former Israeli Special Forces and undercover operative, Jiu-Jitsu black belt, and was chief of security for a billionaire… He's helped well over a hundred entrepreneurs, CEOs and investors remove the invisible wall between them and maximizing their potential without the usual “Go hard, wake up at 4 am, rah rah!” ultra-motivation nonsense.
Doing interviews again. This is the first of many. I'm going to bring in other experts to share tips and tactics to help increase your business numbers directly or indirectly.
My guest for this episode is Noel Andrews from JobRack.au. He's the CEO of JobRack, which helps business owners recruit amazing people from Eastern Europe...
In this episode: Insights from the book, “Managing Oneself” by Peter Drucker from my recent Reading Challenge... and my learnings from the challenge itself.
The sixth of the six core areas is left until last on purpose. You need the previous core area, Monthly Numbers, working well before you'll have the data needed to start and use this core area. And there's usually more important or impactful core areas to work on before this one, but eventually, you'll need to become Nostradamus.
I'm talking about Future Numbers.
In this episode, Ben explains some of the benefits of understanding the fifth of the six core areas (the area most people think of when they think about looking at their numbers).
In this episode, Ben explains how keeping on top of your marketing and sales numbers can help you make small tweaks that yield big results.
Personal numbers might not seem connected to your business on the surface, but how we approach our productivity and personal finances can hold the business back or catapult it forward.
Ben identifies four problematic factors that may actually be motivating you to create that shiny new dashboard helping you avoid sophisticated procrastination and redirect your efforts toward fixing the underlying issues.
In this episode, Ben walks you through how to make concrete plans to exit your business and maintain the lifestyle you want. It's closer than you think.
This one is inspired by all the business owners who worry that they don’t know what they don’t know about numbers. I've distilled all this stuff down to a core of 6 topics based on my work with hundreds of business owners.
In this episode, I'm going to give you a quick summary of each of these core areas so that you know what it is, why it helps, and what to do about it.
A short Q&A replay from my conference in Bangkok, plus an in-depth look at the 5 Key Numbers to watch on your Profit and Loss statement and why they're so important.
Are you a business owner who's asked themselves 'How much should I pay myself?' at least once? This is the episode for you!
Take a step back and think about the progress you're making towards your goals and how your business is going.
Let's talk about all of the things that your price needs to cover, because it needs to cover more than you think.
If you don't know what you don't know about business numbers, here's the basic framework.
Dominic Wells is the founder of Human Proof Designs. A tech company, Human Proof Designs builds niche websites for their clients. Dominic explains affiliate sites and marketing for newcomers.
He tells me how he went from teaching English in Taiwan to designing websites and growing a successful online business. Dominic discusses hiring and keeping the delicate balance of profit and growth. He also has some practical advice for people wanting to jump into affiliate marketing.
If you would like to ask me a business question, just send it along and I'll see what I can do!
Today I continue with my Q&A sessions. Today’s question comes from members of my group program, who have asked me to discuss some of my influences and inspirations. So, I have made a list of books and content creators who have really helped me navigate my career. Keep in mind that some of this is taken from memory as a young man, so some of these recommendations might not hold up as well in today’s market.
If you would like to ask me a business question, just send it along and I’ll see what I can do!
My guest today is Shayna Oliveira, the creator of Espresso English and the host of the podcast Entrepreneurs in Motion. Shayna began her career as an English teacher in Brazil. After seeing her students would benefit from an online version of her lessons, she began a daily blog that reviewed her lessons for her students.
Shayna tells me how her blog became a successful online course business. We discuss how she generates traffic and how she meets the needs of her customers. We also discuss the decision process behind hiring and outsourcing help for your business. Shayna also has some practical advice for anyone who would like to get into the online course market.
Today's Q&A question comes from members of my group program. Tim and Grant ask:
"In all the years you have been doing business accounting/virtual CFO, etc. what are the common patterns or mistakes you see being repeated over and over again? What are the top three things that make you shake your head in frustration?"
My guest today is Ryu Noai, the owner of the Australian tax firm Impala Accountants. Ryu is a seasoned traveller who uses his international experience to help small businesses navigate the pitfalls of international taxes. He tells me about his adventures abroad and how his education allowed him some unique opportunities.
Ryu answers some common questions that many Australians have and he addresses some international tax issues. We also discuss the common problems people create for themselves during tax season.
Q&A episode 11 answers the question "where can I borrow?" from one of the members of my group program, In this episode: Important points about debt funding in general. Personal borrowing, to free up funds for the business. Sources of debt funding.
Kylah Morrison is the CEO of the Karratha & Districts Chamber of Commerce & Industry. On today’s episode, she joins me to discuss her journey to this unique career opportunity. Kylah began her career as an engineer in the corporate space. She then pivoted into doing business coaching out of her home. When she realized she needed a change, she took her current position and found an area of business she fit into quite well.
Kylah looks back on her time as a business coach and shares some of the lessons she took from the experience. We discuss the problem mental blocks can cause for entrepreneurs and how to break through them to move forward in your business. Kylah tells me about her own struggle with deciding on pricing and seeing the value of her services.
And of course, she answers the big question, what does the CEO of a chamber of commerce do?
John Gillingham, the founder of AccountingPlay.com, is my guest today. John used his background in accounting to help CPA students expand their education and refresh their skills. He has also developed some top rated apps for the iTunes store.
John’s lifelong goal has been to be his own boss and he has been able to do that with great results. We discuss John’s journey into app development and how remote teams have helped him reach his goals. We explore the challenge of working on a small budget and getting a service or product off the ground.
This is the 10th Q&A episode, and last week was the 30th episode of the podcast, which are great milestones to answer a listener question about what I'm up to and where can they find more of my helpful content.
My guest today is Michaela Light, the host of the Intuitive Leadership Mastery Podcast. She is also the author of the Intuitive Leadership Mastery book and What Would It Take? Michaela is also the founder of TeraTech, a cold fusion based software company. In recent years, she has been making her living doing coaching and consulting work.
During today’s episode, we follow Michaela on her entrepreneurial journey. Her story is very dramatic and inspiring for those riding the highs and lows of the entrepreneurial road. Prior to 2008, Michaela was responsible for a nation-wide cold fusion conference. She describes what it was like organizing such a large event and some of the behind-the-scenes aspects that people tend to forget.
TeraTech hosted the conference for eleven years until it was no longer feasible. Michaela has some fascinating insights from her time coping with the mid-2000s economy crash. Tune in for her amazing story!
John Ainsworth is the founder of Data-Driven Marketing, a digital marketing firm dedicated to helping online businesses maximise their marketing strategies. We talk about John's journey from door-to-door book sales, through using his knowledge to encourage people into sports activities, through to virtual CMO (Chief Marketing Officer) work through Data-Driven Marketing and explains his 5 steps to help his clients increase their revenue using marketing data.
Anna Rova is the founder and host of the Girlskill Podcast, a bi-weekly show that inspires women to live life on their own terms. We talk about her journey from becoming an email marketing specialist, in Malaysia and as a digital nomad, for personal growth companies, through to her "audience first" approach to building her business.
“Is it better to have fewer big customers or many smaller customers?” Well, the short answer is, it depends on what you want to achieve in your business. I elaborate on this in more detail, and I have some pros and cons about aiming for large customers versus catering to smaller customers. If you are not sure which method you want to try, I might have some insight for you to help your decision.
Question from a client: what are the pros and cons of raising prices for existing customers? Includes tips for many different business models.
My guest today is Mandi Ellefson of Hands Off CEO. Mandi helps service business owners to find more time, delegate better to their teams, and grow their profitability.
Question from listener Ben: How to invest excess business funds, without distributing to yourself first? There are many types of investments, but in this episode I focus on business-related options for investing (and "investing") excess cash. Disclaimer: No tax, legal, or financial/investment advice on this episode. Talk to a professional!
I recently did an AMA (Ask Me Anything) session in a facebook group for one of my clients, and I answered two of those questions again here on the podcast.
If you have any questions for the next Q&A episode, or want me to do an AMA in your group, fill out the contact form at BusinessNumbersPodcast.com/contact.
Sam is a sales and business relationship coach. Her goal is to teach people how to build a rapport with people and make sales without high-pressure techniques.
We talk about Sam’s process and online courses she offers to clients to help them have better sales conversations without selling. She also tells me about her unconventional work history and nomadic lifestyle. Sam is a fascinating person and she is a gold mine of sales advice. She offers some practical and very actionable advice to help you find your sales confidence and have better business relationships.
Takeaways from a small conference I ran on the Gold Coast with Meryl last weekend. In this episode: Business owners helping each other. Mansions and spontaneous conversation. Masterminds. Attendee talks.
In this Q&A episode, I talk about "spreadsheet daydreaming", a term that I've used in a few episodes: what it is in detail, the risks, what it usually means if you are spreadsheet daydreaming, and ways to deal with all of that.
Nathan Hirsch is the founder of Freeeup.com (with 3 "e"s), an online freelancer marketplace designed to take the hassle out of hiring a freelancer.
Nathan began his e-commerce experience with selling textbooks out of his dorm room in college. From there he started a drop-shipping business that grew at a wild pace. Along the way, he learned the hard way how to run a business and build the right team for the company.
My guest is Genecia Alluora Luo, the founder of Soul Rich Woman, an online community dedicated to empowering women to build their businesses. In this episode, we discuss what Genecia learned from the long journey she has taken in entrepreneurship. We follow her through the early days at fourteen and teaching fitness trainers, to the newfound passion for giving women a place to find support and tools for improving their skills.
The podcast is back, starting with this short episode about the new year and the plans for the podcast.
In this Q&A episode, I answer the question "What to do at the end of the year?" Have a great Christmas and New Year period! The podcast is going to take a break for the next few weeks.
My guest today is Coran Woodmass from TheFBAbroker.com. Coran is a business broker who specialises in sales of FBA (Fulfilment by Amazon) businesses. Today, Coran shares what he learned from his first business sales and how it affected his company’s bottom line. He offers advice to business owners about how to make their company as valuable as possible.
Tune in for some solid advice on how to prepare your FBA business for the selling process. In this episode: What Coran’s first business taught him about customer service. How one small change can dramatically change your profitability. What is cash on cash return? The business models that can be sold (and the ones that can’t.) 6 key points sellers need to consider when evaluating their business. How expanding your business can add value. Common stumbling blocks in the sale process. The importance of integrity. How to prepare for the sale of your company. Avoiding seller’s remorse. The unexpected surprises that come up for business owners. Preventive measures sellers can take to make the sale process easier.
My guest today is Nate Ginsburg, an ecommerce business owner who got his start in the Amazon FBA sphere. After selling part of his business, he has pivoted into business investing. Today he shares how he was able to make the transition from freelance work to full-blown ecommerce to business investing. Nate also has some great insights on how to build the right team for your business, as well as how tracking your business numbers could be the difference in scaring off or finding an investor or business partner. In this episode: Nate’s beginnings in freelance marketing work. How he was able to set aside the freelance work and focus on ecommerce. How a new business partner helped push Nate to get his numbers sorted effectively. The process Nate went about building his team. The importance of a great team. How Nate was able to correct some of his past business mistakes. The path Nate took for selling his business. Nate’s advice to future investors. His opinion on diversification. Nate’s parting thoughts.
My guest today is Cate Richards, the owner of Team Bonding in Sydney. Team Bonding is a corporate retreat service that organises fun corporate team building events in Sydney, Melbourne, and Brisbane. Cate takes us on a journey to how she was able to make Team Bonding a successful business. She discusses her financial hardships and offers advice for any business owner who finds themselves on the wrong side of the profit margin. In this episode: Cate’s time in marketing and advertising. Her first business failure and how she bounced back. The second business failure that led to Team Bonding. What made Team Bonding different from her other businesses. The good financial habits Cate learned through her experience. Cate’s attempts to sell the business and what she has learned. The pros and cons of the Airbnb business and why Cate enjoys it. Cate’s advice for struggling entrepreneurs.
My guest in this episode is Andres Zuleta, whose high-end travel service Boutique Japan plans bespoke trips to Japan. In this episode: How he decides when to hire. His simple method for projecting cash flow. Why he chose premium pricing and how he avoids temptation to aim lower in the market.
In this episode, I answer 2 more questions from a meetup I ran at a conference in Bangkok. In this episode: Fixing a low margin service or product. Options for automating bookkeeping for greater accuracy and value.
In this episode, I answer 2 questions from a meetup I ran at a conference in Bangkok with Meryl Johnston from episode 3. In this episode: Choosing the right accounting software. When to hire an internal accounts team?
My guest in this episode is Christina Canters, who is a communication coach and hosts her own excellent podcast called Stand Out Get Noticed. In this episode: A simple method for managing money. How Christina uses the Profit First method, including her percentages. How you can get started with the method.
My guest in this episode is Emily de la Pena, founder of Coding Kids which runs programming tutoring, classes and holiday camps for children, based around the Brisbane area in Australia. In this episode: Emily's background. Making the leap from full-time work. Setting prices. Handling rapid growth and rapid hiring. Managing profitability with different classes and large number of tutors. Planning and budgeting for the future. Being approached by a private equity firm. Startup weekends.
My guest in this episode is Carl Quested, who runs Agent Mail which helps real estate agents with direct mail and telemarketing. In this episode: Carl's background. Negotiating leases and taking on loans after prior business failure. Moving to payment upfront in an industry that normally has 30-60 day terms. Monitoring the numbers in a high volume business. Investing excess cash.
My guest in this episode is Nigel Moore, who runs My Technology Business which specialises in helping IT support entrepreneurs. In this episode: How he convinced customers to pay in advance instead of 4 months (!) after service delivery. Monitoring profitability of monthly fixed-fee agreements. Why not to earn too much margin from a client. Setting initial prices for fixed-fee agreements. How he prepared his business for sale. How he thinks about using the proceeds of his business sale.
Paul Higgins runs the community Build Live Give and associated podcast to help people build a business, live a great life and give back to the community. In this episode: Why Paul left a successful corporate career. His journey through coaching, outsourcing, business management software and communities. Two major business lessons from working at Coca Cola. Setting up a team in Manila. Pricing an outsourcing service and converting it from an hourly rate to subscription basis. Pivoting a business based on industry trends. Bookkeeping reports in billion-dollar acquisitions vs small businesses. Paul's 5 key drivers for business success. Mergers and de-mergers of small businesses. Multiples for services businesses vs other businesses. Tips for monitoring the numbers, even if that's not your strength.
My guest on this episode is Meryl Johnston, an entrepreneurial chartered accountant based on the Gold Coast, Australia who runs Bean Ninjas online bookkeeping service. In this episode: Meryl's background; she’s more entrepreneur than accountant! The difference between a bookkeeper, (tax) accountant, and virtual CFO. Why and how to track the profitability of individual clients and team members, with minimal effort. Meryl and I started Bean Ninjas in June 2015, and then after 18 months of decent growth I sold my share of the business to Meryl. This episode was recorded 6 months after that sale.
My guest on this episode is Jarrod Robinson, a teacher for PE teachers who want to use technology in the classroom at ConnectedPE.com and ThePEGeek.com, and his business TheAppMatch.com develops mobile apps for entrepreneurs. In this episode: His journey from PE teacher to entrepreneur with multiple income streams. Why he stopped doing workshops for free and started charging. Making the leap from his job to full-time entrepreneurship. How he monitors the numbers for all those income streams. Using daily revenue goals. How he managed his business without bookkeeping reports. Not being scared to spend money on growth. How he used and uses grants and loans to grow his business.
My guest on this episode is Dan Norris, a serial entrepreneur, 4X best-selling author and international speaker. In this episode, we go through lessons learned on his journey from HR employee, elearning/website agency, analytics dashboard startup, WPCurve a WordPress support service recently sold to GoDaddy, and Black Hops craft brewery on the Gold Coast Australia. In this episode: How Dan came up with prices for his online and offline businesses, including a live demo. Managing and not-underestimating costs. How Dan thinks about reports. Flaws when planning a startup.