One Step Better Podcast

Do you actually know what your menu items cost you? Not what you think they cost. What they really cost after portion creep, waste, vendor substitutions, and everything else that chips away at your margins.In this episode, Mike and Matt talk through the pricing paralysis most restaurant owners face right now and how to use your actual costs to make confident pricing decisions.You'll hear:Why customers aren't as price-sensitive as you thinkThe gap between theoretical cost and actual cost (where your profit disappears)How to figure out what your top 10 items actually cost youWhy inventory management problems show up as pricing problemsWhat suggestive selling has to do with menu pricingIf you're guessing at pricing instead of using your actual costs, this episode will show you where to start.🍽️ More restaurant profit tips: https://hubs.la/Q043D4fg0#restaurantpricing #foodcost #restaurantprofitability #restaurantaccounting #restaurantmenuengineering

You're looking at your POS report. Then your spreadsheet. Then your bank account. They're all telling you something different.So which one do you believe?In this episode, Matt and Mike talk through what your point of sale system is actually built to do, where it falls short, and what happens when your sales data, labor scheduling, and inventory management aren't talking to each other.We get into:Why POS systems are great for revenue but limited for profitabilityWhat it looks like when all your restaurant data actually connectsWhy that "something feels off" feeling usually means something is offHow apathy and gut-based decisions keep the problem goingMore resources for restaurant owners → https://hubs.la/Q041Rrn_0

It looks like you’re winning from the outside, but your bank account tells a different story.In this episode, Matt and Mike share what they've seen across hundreds of restaurant P&Ls: consistent patterns, missed opportunities, and small changes that add up to real profit.There’s no secret formula to profitability, but there are three financial levers that actually move the needle in restaurants: revenue per customer, food costs, and labor costs.What to listen for:* How to raise revenue without raising prices* What your theoretical food cost should tell you* How fear-based scheduling is hurting your bottom line* Why your best people deserve a better system There are 7 consistent cash drains we see killing restaurant profits…Do you know which one is hurting you most right now?Check the full list → https://hubs.la/Q040KT7P0Subscribe for weekly episodes on money, operations, and everything in between for small business owners.

Your accountant says an expense is "non-deductible" and you're confused because you paid for it with your business card. Doesn't that reduce your taxes?Nope. Just because you used your business card doesn't make it deductible.Join us for Part 2 of simplifying accounting terms that confuse business owners. This time: balance sheets, tax credits vs. deductions, and why your accountant keeps asking if things are "material."*Haven't listened to Part 1 yet? Start there first!Grab your copy of the 'Accounting Terms Glossary' and you walk into your next financial meeting with confidence: https://hubs.la/Q03-_tRN0

Your accountant just asked, “Have you looked at your P&L lately?” And you’re sitting there wondering if that’s the same thing as your profit & loss statement. Or your income statement. Or… are those different things?So, we asked our accounting team to list every word they use that clients probably don't understand. They sent back 30+ terms.This episode is Part 1 of us breaking down that list. Starting with the basics:Net incomeGross profit marginWhat a P&L actually isWhy EBITDA has five lettersAnd how tax brackets really workSubscribe for Part 2 where we’ll keep going down the list of terms that confuse the heck out of business owners. Don’t want to keep Googling accounting terms? Download our free glossary of confusing accounting terms: ⁠https://hubs.la/Q03-_tRN0⁠

Do you know if your business made money last month?Not "Did you make sales?" Did you actually make PROFIT?Most business owners track revenue religiously, but can't answer this without doing mental math.Your P&L is your scorecard. But most small business owners don't actually understand what it is. If you don't know your revenue, don't track your costs, don't check your margins, you'll never get excited about your business or focus on the number that really matters.In this episode of the One Step Better Business Podcast, Matt and Mike break down the 5 numbers that tell you if you're winning or losing each month.Highlights include:- Why sales is an "ego stat" that keeps you in the dark- The 5 numbers to track: Cash, Revenue, Margin, Profit, Net Profit to Owner- How to set real targets (not just track random numbers)- The "buckets" method for your cash- Industry reality: restaurant vs. construction vs. retail margins- Net profit before owner vs. after owner (they're different)Now go build your scorecard! Track your five numbers. Figure out if you're actually winning.And if this got you even a little bit excited about looking at your P&L for once, give us a follow. We do this every week and promise to keep the accounting talk as painless as possible :)

Most small business owners say they want to grow, but their habits tell a different story.From spending money out of boredom, to hiring reactively, to holding on to tasks that should’ve been off your plate months ago… these are the mindsets, systems, and habits that quietly slow you down.In this episode of the One Step Better Business Podcast, Matt and Mike get real about what accountability actually looks like and how honest reflection can be the difference between spinning your wheels and making real progress.Highlights include:The power of starting from "no" to protect your timeWhy therapy spending costs more than you realizeHow to hire with intention instead of panicWhy delegation is about focus, not controlHow to stop tolerating the problems draining your energy Subscribe for weekly episodes on leadership, growth, and building a business you’re proud of.

If you’re trying to grow a healthy business, you already know it’s not just about hitting revenue goals. It’s about getting clarity, leading people well, fixing what’s not working, and still finding the energy to show up again tomorrow.And if you're anything like us, you probably haven’t stopped to take a breath, let alone look back at what actually worked this year.In this episode, we talk through what really happened inside our business in 2025: the wins we’re proud of, the stuff we blew it on, and the lessons we’re taking into 2026. Not because we nailed it, but because we’ve got the bruises to prove it.We’re pulling back the curtain on:What finally clicked with our team and client journey (after years of wrestling with it)How giving real feedback (even when it was awkward) changed everythingThe offhand survey comment that rewired how we hand off responsibilityThe marketing experiments that flopped  and what we learned from themWhat our team actually wants from us and how we found outWhat we’re carrying into 2026 Subscribe for weekly convos on running a better business: team, leadership, finances, and everything in between.

Do your financials feel off, confusing, or just plain useless for making decisions? You might be using the wrong accounting method for what you're trying to accomplish.In this episode, Matt and Mike walk through what cash basis and accrual accounting actually mean, why it affects your decision-making (not just your tax bill), and how to know if you're on the right method.Learn why your numbers might swing wildly month to month, how to get financial statements that actually help you make decisions, and why reporting one way for insights and another way for taxes is perfectly legal (and smart). 👀 Learn which method fits you: https://hubs.la/Q03XzYtd0

Think you can write off your vacation, your dog, or that new truck with the wrap on it because it’s “technically” a moving billboard?A lot of business owners do! And that’s exactly what gets them in hot water.In this episode, Mike and Matt break down the 7 most common write-offs business owners think are legal, but usually aren’t.If you’re running a business and want to make smart tax decisions without flying too close to the sun, this episode will help you understand where the real boundaries are, what the IRS actually expects, and how to avoid the kind of write-offs that lead to penalties, audits, or unwanted attention.Download the Deduction Cheat Sheet: https://hubs.la/Q03WxLcV0

Most restaurant owners don’t get into the business for the spreadsheets. But ignoring the math is exactly how good places go under.In this episode of the One Step Better Podcast, Mike and Matt unpack what really causes margin problems in restaurants. From portion control to overstaffing out of fear, they walk through the hard choices owners have to make to actually turn a profit.Here’s what we get into:The #1 labor mistake that’s blowing your payrollWhat your POS data should be telling you about portion control and price creepWhy “menu engineering” isn’t just a buzzword but the difference between breaking even and going brokeHow third-party delivery apps can destroy your margins if you’re not carefulThe truth about food inventory trackingThe emotional decisions owners make that hurt the business mostIf you want to stop guessing why your bank account isn’t matching your sales, and start running your restaurant like a business, this episode will give you the clarity and the tools to move ahead.Subscribe so you never miss the insights, mindset shifts, and real numbers that help you build a more profitable business.Keep learning → https://patrickaccounting.com/learning-center

Your P&L says you’re making money. But your bank account is telling a different story.In this episode, we unpack why that gap exists, how to actually understand where your cash is going, and what steps you can take to get ahead of it. Hear the most common cash flow mistakes we see, the simple shifts business owners can make today, and how to build a system that puts you back in control of your money.We talk about:Why your revenue can be up but your cash is still tightThe difference between profitability and cash flowCommon overspending traps and subscription creepWhy Profit First works and how we use it in real lifeHow to plan for taxes, growth, and surprise expenses with confidenceIf you’ve ever thought, “Why didn’t someone tell me this sooner?” that’s exactly what we’re here for. Subscribe to the One Step Better Podcast so you never miss what we’re learning (or messing up) along the way.

Hiring home care workers and classifying them as 1099 contractors? That decision isn't just about what's easier or what the agency down the street is doing.If you're setting the schedule, assigning the work, and expecting specific people to show up, that's probably not a contractor.In this episode, we explain how misclassifying your team can lead to real problems with the IRS and Department of Labor. You'll learn what the ABC Test actually looks at, how home healthcare agencies get it wrong, and what to do before your next hire.If you're treating home care workers as 1099 contractors, run them through our classification test: https://www.whirks.com/1099-vs-w2-assesment

Think succession planning is just for when you're ready to retire? Think again.In this episode, Matt and Mike get real about why most business owners wait way too long to think about it, and how building systems now makes your business more valuable AND more fun to run.You'll learn why your business might not be worth what you think it is, how to tell if you own a business or just a really demanding job, and why family business transitions are trickier than you'd expect. If your business can't run without you, it's not worth much. Start building those systems and get a valuation so you actually know where you stand.Want to improve your business's value and profitability? Check out how Profit First can help: https://patrickaccounting.com/blog/an-introduction-to-profit-first-and-why-it-works#successionplanning #businessvaluation #familybusiness #smallbusiness #onestepbetterpodcast

You’ve got bookkeeping. You’ve got reports.But the numbers still don’t tell you anything useful.This episode is for business owners who’ve hit that moment of “Wait… I’m running a real business now, and I don’t actually know what’s going on.”We’ll talk through the key metrics that matter, the difference between bookkeeping and financial clarity, and why your accountant should be helping you make better decisions by explaining what your numbers actually mean instead of just sending over reports you don’t understand.If you’ve ever looked at your P&L and thought, this isn’t helpful, that’s a sign you’ve outgrown basic bookkeeping.See how we help small business owners get clarity at every stage:https://patrickaccounting.com/blog/patrick-accounting-client-journey

Hiring remote employees? Storing inventory out-of-state?Even one move across state lines can create a pile of tax and compliance issues you didn’t see coming.This episode walks through what business owners need to know before making multi-state decisions. You’ll hear how a single remote hire can trigger income tax, payroll tax, registration requirements, and sales tax nexus you didn’t even know existed.We also talk about which states are tougher than others, why “we’ll figure it out later” is a costly approach, and how to avoid getting surprised by letters from state tax agencies asking for money.Thinking about hiring in another state? Make sure you know what it triggers: https://www.whirks.com/blog/how-to-set-up-payroll-taxes-for-remote-employees

You want to save for retirement and cut your tax bill.But picking the wrong plan or missing key deadlines can do the oppositeThis episode walks through the real retirement plan options for small business owners, using what’s working right now. You’ll hear why 401(k)s are more accessible than you think, why a SIMPLE IRA might be the best place to start, and what business owners often get wrong about matching rules, employee eligibility, and contribution timing.Not sure which retirement plan actually fits your business? Compare your options now: patrickaccounting.com/business-retirement-plan-optioins

Are you still waiting to “see how the year ends” before making tax decisions?Thinking you’ll just deal with it all in January?That’s exactly how service-based business owners get hit with tax bills they didn’t see coming.In this episode, Matt and Mike explain what actually matters before December 31. They share how to handle equipment purchases the right way, when to plan bonuses, and why putting off things like W-9s or mileage logs can cost you later.Be the one who plans ahead, NOT the one who pays for waiting.Head to our Learning Center for smarter year-end tools and next steps: https://patrickaccounting.com/learning-center

If you own a business, paying yourself isn’t always straightforward.Matt and Mike walk through what actually goes into getting paid as an owner, from how your entity type affects your options, to how Profit First helps make sure the money’s really there when you need it.They also touch on the emotional side of it: the weird tension of seeing money in the bank but not knowing what’s “yours,” and the pressure that comes with growth.Read more about the Profit First system: An Introduction to Profit First - and why it works!#ownerpay #businessstructure #smallbusinessfinance #onestepbetterpodcast

A bigger tax bill is NOT always bad news. Sometimes it just means your business grew.Tax surprises like this are common, and they usually don’t come from one mistake. They show up when systems can’t keep pace, when cash gets mistaken for profit, or when the tax plan never adjusts as the numbers change.In this episode, Matt and Mike talk through the real reasons tax surprises happen, how to keep tabs on what you’ll owe throughout the year, and why once-a-year filing isn’t a strategy.If your current approach to taxes is “hope it’s not too bad,” it’s time for something better.#taxplanning #cashflow #smallbusiness #onestepbetterpodcast