Overview
On this episode of Business Insanity Talk Radio, we first talk about one of the biggest issues that faces small businesses: how to manage cash flow. Then, what happens when you have a successful company but then you lose your biggest method of distribution? We’ll hear what one co-founder did to mitigate the damage to his business. Plus, leadership is at the core of every sustainable business – it is the thing that engages your employees, your customers, and your vendors. We show you the key to creating that leadership. Also, we show you how to identify the future leaders in your company that will make your business a success. Finally, we show you how to get your small business unstuck!
Listen
Segment 1: Mike Milan is Finagraph‘s Vice President, Customer Success with over 20 years of sales and entrepreneurship experience. He has translated innovative ideas into multi-million dollar businesses. Prior to joining Finagraph, Mike built several successful ventures from the ground up. He built and sold Blazing Star Staffing, a Midwest regional hotel staffing company and Bottoms Up Brewhouse. Mike is a former Missouri State Trooper.
1:45 – Why are small businesses so bad at managing cash flow?
2:45 – Why is cash flow so important?
3:15 – Why don’t many small business owners understand the difference between profit and cash?
5:00 – Why doesn’t revenue = cash flow? What gets in the way of cash flow?
6:00 – How does Finagraph’s cashflowtool.com work?
7:30 – Finagraph’s easy-to-use, color-coded calendar projects which days your cash flow will cover and which days you’re in trouble.
8:45 – What if your data inside quick books isn’t accurate?
9:30 – Finagraph makes the cash flow statement easy to read and understand.
Segment 2: Brandon Bruce grew up in a tiny California town of 800 people where he only had one classmate at a school with no running water. He went from these humble beginnings to now cofounding and growing Cirrus Insight to $12 million in annual revenue, 65 employees, and #41 on the Inc. 500 list.
15:15 – How did you lose your largest distribution channel? What did you do then?
17:45 – How did this end up benefiting you? What did it allow you to do?
19:00 – The importance of having multiple distribution channels.
20:15 – Adapting to change, saturating markets, and having multiple ways to reach your customers.
21:30 – How do you deal with the challenges of a geographically spread out team?
23:45 – Balancing the use of technical tools with in-person meetings.
Segment 3: Dr. Richard Nongard is the author of Viral Leadership: Seize the Power of Now to Create Lasting Transformation in Business. In addition to being a licensed psychotherapist, he has owned numerous businesses including restaurants and educational service providers.
31:15 – How do you develop an effective leadership style to create a sustainable business?
32:30 – What if you’re better at leading customers or suppliers versus leading your peers?
33:34 – Setting intention is more than goal-setting. How?
35:45 – We’re too busy looking forward to seize the power of now.
Segment 4: Natalie Michael is a partner with Waterfront Partners, a boutique firm that specializes in succession management and executive coaching for business owners and c-suite leaders. She is the co-author of the book Your CEO Succession Playbook: How to Pass the Torch so Everyone Wins.
40:30 – How do you identify the future leaders in your business?
42:15 – What to do if you’re hearing “yes” from your employees when they really mean “no”…
43:00 – Small business owners are asking the wrong questions to identify future leaders. What should they be asking?
44:00 – How do you know if your employees are telling you the truth about their goals, desires, and future plans?
45:00 – To identify your business’s future leaders, give your employees job assignments that test their ability. What does this look like?
Segment 5: Barry Moltz shares how to get your business unstuck.
49:30 – Do any of these sound familiar?
50:15 – How to take your business to the next level.
51:30 – What’s in the Unstuck course?
52:25 – Special offer code.
To learn more visit, www.barrymoltz.com/unstuck
