Call Me When… Business owners have a big vision for their company & want to move forward, but don’t know how. I help identify hurdles getting in the way & create a path to profitability they never thought possible.
Sharon Foley, Director of Interior Design for The Interiors Studio, and Andrew Henry, Partner at Childs Company, were host Bill McDermott’s guests on this edition of ProfitSense. They discussed finding the right professional for the support business owners need to handle their multiple needs, from integrated interior design to architecture to financial services and exit planning….
Every business owner envisions a growing business, running smoothly without drama and having massive amounts of cash flow and profits. The problem is that with growth comes increasing complexity. Oftentimes, you need to add people and improve processes. Deciding not to add people and processes can create choke points in our business that cause it to become increasingly inefficient or…
Many business owners struggle with delegation. We almost cringe just hearing the word. But without delegating tasks, people start to burn out and are unintentionally limiting their full potential. They become the chokepoint of their own business. It’s interesting that only 1% of businesses start to climb over $10 million in revenue. The number one reason is…
Every business owner wants the business of their dreams. But sometimes they don’t follow a unified strategy of people and processes to get them there. It can be hard to know when you truly need more hands to accomplish your goals and keep the business running smoothly and efficiently. Leaders often have trouble “pulling the trigger” and…
Every business owner wants to maximize cash flow and profitability. But, one of the most common missteps they make is not having the right people in the right seats. Specifically, leaders and managers. This can cause confusion and frustration for staff, as well as management, when there are people in roles that don’t play to their…
Cash is like oxygen to a business owner. It’s necessary. The struggle comes when business owners get confused and frustrated trying to manage the cash flow of their business. It shouldn’t be so hard to predict cash collections and then match expenses against that. But when growth happens, receivables go up and cash goes down because revenue lags…
It’s only when you’re a business owner yourself that you fully understand the challenges other entrepreneurs face. Business attorney Katie Sparks, human resources consultant Jim Cichanski, and roofing company owner Shawn Vernimo talk with host Bill McDermott about their own entrepreneurial journeys, what it took to start their own businesses, and how that experience aids them in…
We’ve been talking about how running a business is like baking or cooking. You need all the right ingredients, in the right proportions, cooked at the right temperature, for the right amount of time. Every business owner wants a business that’s perfectly “cooked”, with lots of cash flow and profits and collecting receivables well. If you…
We’ve been discussing how running your business is like following a recipe. You need the right ingredients in the right amounts in order for the dish to come out correctly. We’ve talked about profitability, which is a measure of profit relative to revenue. And we’ve also talked about activity, collecting your accounts receivable and turning inventory. The third ingredient…
We’ve been talking about how running a business is like baking or cooking. You need all the right ingredients, in the right proportions, cooked at the right temperature, for the right amount of time. Every business owner wants a business that’s “cooked” just right, with lots of cash flow and profits. You can read about the…
Host Bill McDermott is joined by David Shavzin of The Value Track and Bob Tankesley of Neri Capital. David and Bob advocate that the seller of a business must take the perspective of the prospective buyer. By doing so, a seller will better understand business valuation, planning for a successful exit, and how the sale process will…
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