Claim OwnershipEmpowering Healthy Business: The Podcast for Small Business Owners
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© 2024 Empowering Healthy Business: The Podcast for Small Business Owners
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The Empowering Healthy Business Podcast is THE podcast for small business owners seeking to balance having a nicely profitable business, a sustainable, scalable, and salable business, lower stress levels, better work-life balance, and improved physical and emotional fitness. Yes, this is possible! Though it’s not easy. We’re here to help you navigate toward this objective.
26 Episodes
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Many businesses are run by husband and wife teams. While that can be a powerful combination for the business, there are unique dynamics and challenges when spouses or other family members work together. In this episode, Robert and Kay Lee Fukui share their experience and insight into how spouses can most successfully work together as business partners.More specifically, this episode includes:Advantages of Family-Run BusinessesKay Lee and Robert’s BackgroundImportance of Financial Metrics in R...
Part of running a healthy business is being able to attract new customers. I am old enough to remember life before internet and phones became ubiquitous. These days internet-based marketing dominates in many industries, and the catch-all term for all kinds of online marketing is Digital Marketing. Joining this episode is Kevin Roy, founder and owner of Green Banana, who helps us understand today's digital marketing landscape and how to navigate all these options and opportunities.More specifi...
There is a new federal filing requirement for 2024 that new and existing businesses must comply with, or else face hefty fines. Businesses are required to report the identities of their Beneficial Owners. This filing is typically made by tax CPAs or attorneys and must be kept updated. Greg Reed helps us navigate these new requirements.More specifically, this episode includes:What is Beneficial Ownership?Beneficial Ownership is reported to a federal government agency (different from the IRS)Pe...
Having supported the bookkeeping and accounting needs of many marketing agencies over the years, SmartBooks routinely addresses a few key accounting topics to help clients get the most out of their financial reporting. In this episode guest Lindsay Jarosch highlights these issues.More specifically, this episode includes:Benefits of a segmented chart of accountsAccounting for client media purchases made by the agencyProfit modeling for the firmUsing performance metrics to manage pricing and st...
The healthier we are personally, the more energy we can bring to our businesses to make our businesses as successful as possible. There are several drivers of personal health. In this episode guest Matt Beedle makes a compelling case that investing in great sleep delivers a high return on investment personally and professionally.More specifically, this episode includes:Consequences of Inadequate SleepWearables and Genetics to Inform Sleep InformationBeware of Supplements and MedicationMental ...
Small businesses have more options than ever to meet senior executive needs by utilizing fractional (aka part-time) managers. The fractional CFO model is the most established, but business owners are also meeting operational, sales and marketing, and other areas of need using fractional approaches. In this episode, Scott Baker shares his insights into how business owners can derive valuable benefits by employing a fractional HR leader.More specifically, this episode includes:The HR function i...
Small businesses may have a solution in place for bookkeeping and producing basic financial statements. Owners often yearn for analysis and forward-looking planning. The fractional (part-time) CFO model has existed for 20+ years to fill that void. Today there are more options than ever. Achieving successful results from fractional CFO engagements, however, can be a challenge. In this episode, Dave Hartley shares his insights about how business owners can create successful fractional CFO engag...
Businesses can become financially distressed and face challenges with solvency and potential bankruptcy. Business owners in this situation may be able to cut costs, tightly manage cashflow, and return to profitability. Sometimes they need to renegotiate debt, attempt to sell business assets, or ultimately dissolve the business. There may also be personal liability concerns for owners and officers. Today’s guest Charlie Goodrich helps businesses navigate these situations and achieve as favorab...
Running a business is so hard that most go out of business within 5-10 years. There are many risks and factors outside your control. Today’s guest Bill Flynn shares his insights about several areas business owners can control and how you can position your business to overcome those odds to thrive with long-term success.More specifically, this episode includes:Creating a Brain-Friendly OrganizationConducting Effective MeetingsThe 80/20 Rule in BusinessCash Flow is KingAvoiding Leadership Bottl...
Healthy businesses have an established business model in which most new incremental hires produce profit for the business. Payroll expense can be viewed as an investment that yields a profitable ROI. Usually a hiring decision boils down to a question of how much more revenue do you need to sell in order to afford a new hire. This episode helps answer the question of whether you can afford to hire an employee.More specifically, this episode includes:Viewing Employees as Profit CentersReturn on...
Healthy businesses produce healthy income for their owners. Compensation for business owners can take different forms. This episode discusses the primary forms of owner compensation and associated tax considerations. We also review bookkeeping and reporting considerations for how owner compensation is booked and reported on financial statements. More specifically, this episode includes:The primary forms of owner compensation and how they are taxed both on the business and on its owner-em...
The healthier we are personally, the more energy we can bring to our businesses to make our businesses as healthy as possible. There are several drivers of personal health. This episode reviews a book called Deep Nutrition, written by Dr. Cate Shanahan, which does a great job of helping us understand the nutrition driver.More specifically, this episode includes:Ancestral knowledge prior to the rise of modern medicineThe rise of chronic disease over the past 75-100 yearsGenetics (our genes) vs...
Profitability is one of the indicators of a healthy business. Although business owners aspire to have healthy profit margins, it can be challenging to achieve them. This episode’s guest Rocky Lalvani serves as Chief Profitability Officer to small and midsize businesses. He presents philosophy and tactics that help small businesses improve their profitability.This episode includes:The Origin and Philosophy of the Profit First SystemHow to Implement Profit FirstBuilding an Appropriate Cash Rese...
Part of running a healthy business is being able to set and manage to achieve operational goals. This episode’s guest Bill Simmons has been in the fractional COO business for almost 20 years, helping clients run their business 90 days at a time toward achieving strategic objectives.This episode includes:Bill's special sauce helping businesses manage their business 90 days at a timeThe benefit of fractional management expertiseWhat it means to be a THRIVE businessHow to structure a fractional ...
After developing a great set of financial goals and operating metrics, the next part of running a healthy business is having strong systems and processes in place to manage the business toward achieving those targets.This episode introduces Step 5 of The Financial Operating System: Manage the Business, and Step 6: Learn, Iterate, and Improve. If you want to learn some ways to help your business follow through and achieve the targets you set, then this edpisode is for you.This episode includes...
When business owners initially try to start using financial performance metrics to better manage their businesses, they often struggle to get accurate, timely, and consistent metrics reporting. Usually, this is because of inadequate accounting operations.In this episode we discuss the 3 pillars of accounting operations and the Finance Stack and typical areas in which each may need to be upgraded: People, Process, and Technology.We define the roles and responsibilities in the accounting ...
This episode is packed with actionable insights on operationalizing financial performance goals and bridging the operations-finance chasm by crafting SMART goals and balancing leading and lagging indicators. We explore the power of Entrepreneurial Operating System (EOS), Objectives and Key Results (OKR), and Scaling Up frameworks. We dive into the importance of creating shared definitions and aligning teams within your company. We also unravel the mystery of the acceptable achievement ra...
Click here to download the financial reports referenced and analyzed in the episode.Step 2 of The Financial Operating System is to Assess Your Current Finances. Imagine understanding your company's financial condition and performance and being able to interpret your financial statements. That's what we're demystifying today. Join me, your host Cal Wilder, as we navigate the world of basic financial statement analysis. We'll decode the language and story of balance sheets and reveal how t...
Ever felt like you're lost in the labyrinth of finances as a small business owner? So too have far too many other small business owners. It's time to navigate towards your goals! Listen in as I, drawing on two decades of experience, introduce a transformative tool - The Financial Operating System. This episode focuses on the first step of this system - Identify your WHY. Let's journey together to assess your objectives to ensure we get your business on the right path. By understanding your bu...
Are you ready to conquer the labyrinth of state and local taxes in the United States? We'll arm you with the knowledge you need in our conversation with Greg Reed, the tax partner at SmartBooks Tax and Advisory. With each of the 50 states brandishing unique tax rules, business owners can be facing a sizeable obligation. Listen in as we dissect the multitude of taxes - from sales to income and the seemingly infinite list that follows. A simple venture into tax compliance can quickly turn into ...
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