The Clear PATH To Cash

Welcome to The Clear PATH To Cash PodcastIn this episode, The Cash Flow Equation speaks to Martha Yasso, of Yasso Bookkeeping Solutions, to talk about the different definitions of cash flow and how this can be confusing to business owners. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Business owners, they don’t understand cash flow. Martha asked herself what cash flow means and found that there are different definitions depending on if you are an accountant, banker, or business owner. Accountants look to the past, Bankers look to the future, and Business Owners get stuck in the middle, worried about the financial statements in front of them. Cash Flow to Martha means  Revenue coming in , expenses coming out, cash balance, and what is often forgotten, time. These four pieces have to come together to truly understand cash flow. Part 2: Content Notes: Adding context around the financial analysis is crucial. Leveraging cash flow - the accountant bookkeeper is the bridge or interpreter and breaking it down into what the business owner knows and experiences. Use information in ways that they understand. Not in a huge goal but the small steps towards a goal. Martha brings up Path, and how it breaks down everything in an easy to understand way for business owners. Mike talks about keeping 3 - 6 months of cash in reserve of operating expenses. Martha’s advice is to get a good bookkeeper. Look for a relationship where you can say “this is the next step, how do I get there” or “I’m here, what’s the next step?”Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Creating Through Crisis speaks to Robert J Chandler, CEO of Simplex Financials, to talk about how they started Simplex Financials together and their journey so far. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Rob start off by talking about how making sure entrepreneurs can succeed is a mission that both Mike and Rob share.He talks about how most business owners have only done half the things that are necessary to be successful and compares it to taking a test in school They talk about how much they worked to bring their shared vision to life. Looking back, they reminisce about how they were able to raise the money together to start the company, even during the pandemic. Part 2: Content Notes:Mike talks about the name issue they had to deal with recentkly before the launch of the product. Even how difficult it was to get the domain name, social media handles, and trademark protection for a new name. They then talk about different feature of Path like Data Mash and The Bridge and how it can help business owners consolidate all of their financial and non - financial data in one place.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Cash Flow Mike speaks to Gary Vaughn, Executive Director of Marketing for Wayland Baptist University, to discuss his experience going through the trademark creation process. They will also discus what business owners should keep at top of mind when creating their brand. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content NotesGary talks about his experience coming to Wayland Baptist University in an effort to increase the university’s nationwide presence. However, the lack of trademark protection alarmed him and started him down the legal process to protect the university’s brand.They talk about the difference between Trademark and Registration. Registration carries more weight. His suggestion for business owners is:“Start out with the trademark and start the process, it’s as easy as putting the ‘tm’ icon next to your logo.”He goes on to talk about how he wanted to preserve the look and history of the University. Especially the women’s basketball team, nicknamed “The Flying Queens”, who have a yet to be broken winning streak.Part 2: Content NotesMike talks about his recent experience with pushback from a larger company when registering his trademark.While you may be able to find a trademark for a business, it might be hard to nail down the social media handles and domain name.Gary found that there were other entities within the university that were using trademarked logos, and found that they were in violation of using that logo.His closing statements are to “find your niche and stay consistent with your brand”. He says that in his experience, a business owner should get to the level where they are a household name.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Cash Flow Mike speaks to Brian Morgan, co-founder of the Texas Youth Football Association (TYFA), to discuss how he began his business and became the inspiration for a TV show. They will also discuss some ways that business owners can use to manage their business by finding the right people and having clear communication. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Brian and a colleague started TYFA out of a desire to make the sport better for future generations. TYFA is a Texas-wide youth football organization with individual chapters, and although it is the favorite past-time of the state, it comes with its own organizational hurdles.  The shared vision of the founders from day one was to run and manage the organization like a business. This vision has resulted in the success of the organization. Part 2: Content Notes:Brian talks about how as an organization, it is vital to embrace technology. He even comments that they used Zoom “before it was cool”, and a member of their executive board is in charge of seeking out new technology to help the organization. He goes on to tell the story of how TYFA inspired the show “Friday Night Tykes” and the publicity that it brought to the organization. Some groups outside of Texas were not happy with the conditions the youth played in. Brian goes on to comment that competition in sports helps prepare children for the realities of the workplace. His closing statements are that you have to build a good team for long - term success that are not “yes men” and that communication has to be clear across all channels.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Cash Flow Mike speaks to Charles J. Read, founder of GetPayroll, to discuss how he began his business. They will also discuss some payroll problems that many business owners fall into and the PPP loans that business owners are unsure about. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Charles opens up by telling us about his extensive financial leadership experience in a broad range of industries, as well as being a licensed Certified Public Accountant (CPA).Business owners get into trouble by not starting the payroll process correctly when they first incorporate the business. They fail to realize that they too are workers and they need to pay themselves W2 wages. Complying with national, state, and local laws is complicated and an ever - changing landscape. A big problem is when business owners misclassify contract workers leading to penalties that can be substantial for business owners.Part 2: Content Notes:Charles talks about the Payroll Protection Program (PPP) loans and how businesses have to navigate the responsibilities of taking on the loan. He goes on to say how these loans have saved some business from bankruptcy. “If you can’t make the deposit, don’t pay the payroll.” He goes on to say that cash flow is important to understand. Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Cash Flow Mike speaks to TJ Thomas, founder of Wichita Airstike, to discuss how he began his martial arts studio. They will also discuss how TJ has changed his business strategy due to COVID.Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a reviewPart 1: Content Notes:TJ opens up by explaining why he started his martial arts studio. TJ has a son who is extremely talented, and he wanted to create a place where he could practice.Next, TJ discusses how he has had to adapt to the changes in the world today due to COVID. TJ talks about how is going for more high ticket clients, and how virtual training has played a bigger role.Part 2: Content Notes:TJ Tells Michael that he is still trying to learn to follow a system that is set in place, but also be prepared to be able to pivot quickly. He says that he doesn’t know what is going to happen everyday, so he needs to be prepared for anything.TJ’s advice for new business owners: Make a decision, figure it out later.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Cash Flow Mike joins Mark Wickersham to discuss the client migration strategy. Mike will discuss how to engage and attract new and old clients, as well as how to keep them coming back time and time again. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Content Notes:We start by discussing the idea behind "people buy from people", practicing relationship accounting, as well as what it means to enroll the right clients.Mike then talks about the migration strategy, and "the 3 Be's". We discuss how to create an ideal client persona, and how to move up the value chain.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Charles Fettinger is here to help us understand bitcoin. Bitcoin is still a platform that is very unknown by most people, but it has a lot of benefits that can positively help business owners. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Charles starts out by helping understand what bitcoin is, where it came from, and how it works. Charles explains how "Bitcoin is the fuel for the highway of the blockchain".Charles discusses what a blockchain is, and how bitcoin is created and transferred. Bitcoin is a virtual currency, but it has a lot of benefits such the speed and security of transactions. Part 2: Content Notes:Charles continues in the 2nd half of our discussion to answer why business owners should be aware of bitcoin. Bitcoin has proven to be more secure than banks, as well as limit fraud.Charles says that bitcoin is "adopted widely and mathematically certain". Business owners could play the bank, so to speak, as they are in charge of each transaction with bitcoin, therefore minimizing the need for trusting in banks.Charles's tips for beginner bitcoin users is get set up IMMEDIATELY.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastIn this episode, Andrew Royer of Royer Accounting is here to discuss how business owners get in to trouble when not staying on top of their books. Understanding how much revenue is actually being generated is crucial. Many businesses find themselves going bankrupt because they spend more than they're making without even knowing it.Andrew will discuss how his team works with their clients to make sure that everything is as easy and clear as possible, as well as some success stories of clients that turned their business around. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:Andrew begins to discuss why he decided to start helping businesses with their books. He takes pride in making sure that his clients not only get their books straightened out, but also understand their books.Andrew says "if you do not know what is going on in your business, you cannot make good decisions." Any decision that you make is going to be a risk if you do not know how much money you have coming in.Clients of Andrew can expect a checklist of services that will be done for you. Most of the process is automated at this point making it very easy to complete.Part 2: Content Notes:Andrew says that a lot of businesses tend to act like a new tube of tooth paste. When they start out, they spend a lot of money, but towards the end they are squeezing every last penny. There are many ways that business owners can save money that they don't even think about. Ways such as office space, supplies, even travel.Andrew closes out by discussing a success story with a client who thought they had everything under control. Turns out they didn't. Thankfully Andrew was there to straighten them out.Andrew's tips for everyone is do what you do best.Closing Remarks:- Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastToday’s Topic:  We are in the middle of a worldwide pandemic and every business is facing the same challenge at once.  Are there ways for a small business to survive a Shelter In Place order without an active customer base?  I spoke to Jeff Keene of Delta T, Ltd to see how his business was doing.Reason for topic:  Part of my family’s quarantine practices is to reach out to people I haven’t heard from in a while.  Jeff and I were classmates at Wentworth Military Academy in the late 80’s.  When he and I connected he let me know how his business was handling the crisis and I thought my listeners needed to hear his ideas. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes:In this episode, Jeff is in a commercial business, where most of his customers are schools, prisons, colleges and hospitals.  In general, they are an independent tester of HVAC systems who make sure that the owner is getting what they paid for on these huge systems.Jeff and I got right into the topic of the Coronavirus Pandemic that is affecting almost every business in the US currently.  Jeff described when he first took the situation seriously from a business owner’s perspective and what the first steps he took were.What we learned was that the guidance from the government was fluid and ever changing.  Jeff explained how he and his team are able to keep up with the changing environment while trying to keep the business operational.One of the things that this situation taught me was the need to be creative and react to your situation.  You might need to use uncommon solutions to break through.  I liked how Jeff and his team were able to see the lower occupancy counts as an opportunity to provide a much needed service. Part 2: Content Notes:In Part 2, Jeff and I discussed the new challenges of adjusting to running a small business with social distancing in place. Jeff jumped right in and tackled what his biggest challenge has been so far.  I don’t think you’ll be surprised by what he has to say, but it is still good to hear.One of the more fascinating things that Jeff said was regarding the creativity that was needed to accomplish seemingly normal tasks.  In some ways, the governmental regulations tied his hands, but in other ways he was able to find a work around to a few unexpected challenges.Jeff’s industry is reliant on bids being put out for his service.  Within the first month of the quarantine the deal flow slowed down considerably.  Listen to Jeff’s thoughts on the forecast for an extended disruption of his business.The episode ends just like every interview I have done, with Jeff giving anyone who wants to start a business his advice.  Spoked like a true professional, Jeff did not disappoint with his answer.Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Today’s Topic:  If you happen to look at yourself with a critical eye and say: “I Don’t Understand My Business.”  Then you are a D.U.M.B. business owner.  That doesn’t mean you are unintelligent.  It means that there are things happening in your business that you haven’t figures out.  Don’t worry, its normal.  Most of us were/are D.U.M.B. at some point in our business careers.Reason for topic:  The great thing is that you don’t have to be.  Just learn a few simple concepts and change the way you think.  This list comes from my seminars.  It is a list of the most common rejections I hear from the participants and they are the easiest to change.  They are signs that the business owner gave up.  I’m hear to tell you that you don’t have to.Let’s get into it, BUT FIRST... - Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes: In this episode, I put together a list of statements I have heard from business owners about their business.  It is interesting to see how people resign to their current situation.  They have opinions about a wide range of topic including: 1.    Planning and organizing2.    Cash in the business3.    Growing their business4.    Money in the bank5.    Hiring professionals6.    The right amount of inventory7.    Profit and Cash8.    Collecting invoices9.    Bank business loans10. Industry averages Trust me, you want to hear this list and see if you’re guilty of any of them.  I built my training program the Clear Path To Cash on the basis of some of these thoughts.  My hope is that you can also make the transformation from D.U.M.B. (Don’t Understand My Business) to  S.T.A.R. (Stop Thinking About Rejection).  Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review. My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.” Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Today’s Topic: Today, I’m joined by Linda Delaney of LFD Consulting in Memphis, Tennessee.  Linda specializes in leadership development services for an impressive set of clients.  I got the chance to meet her a couple of weeks back when she attended a 2 Day Clear Path To Cash financial management seminar hosted by The MMBC Continuum at the University of Memphis.Reason for topic:  Here is something that always interests me.  Why do people leave corporate employment and go out on their own?  Linda has done this successfully and I thought any person who was considering leaving a job to start a company would like to hear what it was like.Part 1: Content Notes:First of all, you will be surprised by the nuggets of wisdom that Linda imparts. Right from the start she confronts the fear about leaving her job in Corporate America to pursue her own passion.  Of course it was scary, but her biggest fears weren’t in changing employers, it was giving up the security of salary and benefits.  If this sounds like you, dig in, because she lays out her entire thought process about what its like to go out on your own. One of my favorite parts of this interview was Linda’s viewpoint on fear.  She shocked me by redirecting the actual thing you should be afraid of when making this type of decision.  Believe it or not, it could apply to every aspect of change in your life. One of the ways she was able to get the confidence in making the move was her use of mentors. She was able to get the best out of the people she reached out to for help by “keeping the best and leaving the rest”.  Believe it or not, you will know when it’s time to go.Part 2: Content NotesWe start the second half of the show talking about the pit moments people experience after starting their own business.  Sometimes, its easy to fall victim to imposter syndrome, where you don’t feel like you know what you’re doing.To rejuvenate herself, Linda falls back to listening to the works of Jim Rohn, and American Entrepreneur, Author, and Motivational Speaker who has mentored several top leaders like Tony Robbins. There is always a point in time you can look back at when you knew your business would make it.  Linda gets a chance to tell me what that moment was for her.  As part of her story, Linda talk about writing and selling her first book. Stewardship: A Matter of Principle.  Available on Amazon. https://www.amazon.com/Stewardship-A-Matter-of-Principle/dp/0972825509Lastly, Linda gives her advice to anyone wanting to start a business on their own.  Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review. My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.” Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastToday’s Topic: It’s no secret that I’m a Kansas City Chiefs fan.  And this historic playoff run to the championship go me thinking.  The Chiefs came back in all three games to break a 50 Year Super Bowl drought.  It’s easy to cheer for that type of comeback. So it made me wonder, do comeback stories exist in the business world?Reason for topic:  C’mon, I love the excitement of a comeback. And one of the largest components of a comeback is in feeling like you are in an unwinnable situation.  Business feels like that sometimes.  We get into situations that just feel impossible.  Maybe even like there is nothing you can do but give up.  If you are in this situation or ever had been, I found some stories of business comebacks that might re energize you to keep looking for the win.  This could be the start of your comeback.  Let’s get into it, BUT FIRST...  - Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 1: Content Notes: So I’m going to start with what is considered to be the most impressive business comeback of all time.  It is widely known, and there have even been several movies about it.  I’m talking about Apple.  After the firing of Steve Jobs, Apple went into a death spiral and became almost non-existent in the public eye.  This gave Jobs the opportunity to rejoin the company and take over its management.  In three moves, Jobs brought Apple back plus a turned it into the most innovative software company on the planet.  His moves?  1. He sold Microsoft the rights to put Office and Explorer on the Macintosh.  2. He started selling Apple Products in Stores. 3. He added complimentary products like iPhones, and iPods to this computer lineup.  Today you can see the result.  Nobody remembers the dark days of Apple.Here is another one you might not know.  Believe it or not, Tesla was on the verge of extinction when the hit some problems with financing from their investors.  The money had all but dried up, as people lost faith in his ability to deliver the ultimate electric vehicle.  The never say die businessman Elon Musk, restructured the company to keep it alive, then delivered on his promise to help it thrive.  Today there are three models on the market with more on the way.  Just last week, Tesla stock was trading at around $900 per share.  Talk about a comeback.Part 2: Content Notes So, I’m watching tv last night and saw a new Netflix show with Will Arnett, Lego Masters.  Think about that for a second.  A show about people who are magical at creating scenes with Legos.  First of all, the Lego Company has been around almost 100 years, and in just 2003 was on the verge of bankruptcy.  They were losing between $300-400 million per year, and kids had transitioned into electronic games and off of the old fashioned toys of imagination.  Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastToday’s Topic: I’m live from Las Vegas and as you know this is the place where anything can happen.  Last night, I had a brief and casual encounter with 2 Time Super Bowl winner and current MNF announcer Booger McFarland. In today’s episode I’m going to breakdown the meeting between us because it reminded me of how others see you and how you might see yourself. Here's the embarrassing part.  It was an impostor and I fell for it.Reason for topic:  What I mean by that is, that everyone you meet has an impact in your life.  This is especially true in a small business owners’ life.  The smaller the business, the closer you are to the customer.  As businesses grow, they tend to become less personal.  This is the reason that many companies opt to brand a personality, like Flo from Progressive or The Most Interesting Man in the World by Dos Equis.  In the few minutes I spent with Booger, our interaction was a microcosm of the world we live in and how we react to one another.Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 1: Content Notes: I think the best way to relate the two thought together is to tell the story in parts.  Like an introduction, a body, and conclusion.  That way I can explain the situation from my point of view, and my perception of his point of view.  Whether we like it or not, we are always on a stage and we are characters in a play.  Some of us have small parts, while others act on a larger stage.  But the funny thing is, we are all wanting to present our best.  This is especially true of small business owners.  You never know who you next customer is going to be, so you try to make every interaction as positive as possible.  So let me explain,As I said in the intro, I am live in Las Vegas.  My fiancé and I we sitting at a bar in the casino at Paris.  We had eaten dinner, played the slots, and had settled in for a nightcap before heading to the room.  Then I saw a gentleman sit down a seat away from us on our right.  Being prior law enforcement, I typically check out other people around me.  I’d like to say for safety, but more likely now a days, I’m just curious.  The man was dressed casually, minding his own business, and quietly ordered from the bar tender.  Here is what caught my attention.  He was wearing a necklace, out of his shirt, with an NFL medallion on it.  He also had a huge ring on his right hand, obviously a Super Bowl Ring.  I mentioned it to my fiancee and she immediately said.  Don’t.She knows me like that.  If I see something interesting, I’m going to ask about it.  But, I left it alone for the time being.  A few minutes later, I looked his way and we made eye contact.  I couldn’t contain my curiosity any longer, so I said, “Ok, I’ll bite.  What is the ring for?”  Saying out loud on the podcast, I’d have to say it wasn’t smooth at all.  His answer, “It’s just jewelry”.  No context, no elaboration, no answer.  I didn’t press, I just acknowledged and said I was Mike.  With a great smile, he politely said Hey Mike. But he never reciprocated by telling me his name. This is how it started.This is where I feel bad.  I turned to my fiancee and said, I guess he doesn’t want to tell us.  She was very polite and explSupport the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastToday’s Topic: Today we are talking to Lorrie Rarey of Innovative Accounting & Tax Solutions.   https://www.rareyolsoncpas.com/  I’ve known Lorrie for a few years.  We met when I was an executive for a financial software company, who build software for small businesses, accountants, and bankers.  At the time, Lorrie was looking for a way to really connect with your small business clients and I thought it would be nice to check in with her and see how her advisory services practices was going.Reason for topic:  Within the accounting community, there is a real push to grow practices by adding advisory services to their offering.  I wanted to explore how that is being done, and how its being received by their clients.  First of all, business owners need this type of service, but I’m not sure they realize it.  So, I went to Lorrie to get the inside scoop of how it looks in real life.Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 1: Content Notes:One of the big pushes within the accounting industry is to move small business clients up the value chain by add advisory services.  Lorrie gets the chance to tell us why she made the decision to work more closely with her clients and how the transition has been.We discussed some of the main problems that business owners encounter when choosing which services they are going to outsource and the result probably won’t surprise you.  The issue is why they choose compliance over performance in their company. - Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 2: Content Notes The second part of the show digs into Lorrie’s motivation behind choosing to try and add advisory services as a part of her client’s packages.  I loved how she connected her own success to the success of her clients.During my last question, Lorrie leaned on her expertise and told us about the advice she would give a best friend who came to her about starting a business.  Somebody right now listening to this podcast needs to hear her answer.Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review. My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.” Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Welcome to The Clear PATH To Cash PodcastToday’s Topic: Trademark infringement.  Most of us probably don’t even think about trademarks, and if we do we only pay attention to the big ones.  However, you have to take trademark and copyright infringement seriously or you might just lose your business.  After all, the only thing we really own in this life is our name right?  That being the case, I would expect corporation to defend theirs to the death.Reason for topic:  Last night I watched a documentary on Netflix called Bottled Up.  It was the story of a small town bottling company in Dublin, Texas.  For over 100 years they bottled and sold Dr. Pepper soda, and became known for sticking very close to the original formula which used pure cane sugar, instead of the cheaper corn syrup sweetener.  This led me to think about how serious trademark infringement is, and how quickly it can become a huge problem for small businesses.  Let’s get into it, BUT FIRST...  - Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 1: Content Notes: Back to the story.  If you watch the documentary, its really easy to fall in love with Dublin Bottle Works.  From it’s origin to the long history of being a family run and beloved business, just makes you want to root for them.  But the issue at hand, is bigger an emotion. It addresses the impact an individual small business can have on the environment around them.  In this case, the threat came from within.  After all, for over 100 years they sold Dr. Pepper products, under the Dr. Pepper name.  But the fact that they didn’t stick to the terms of their distributor agreement made them susceptible to legal action.  As I watched the documentary, I agree that they had a legitimate argument.  Dr. Pepper Snapple had allowed them to operate a certain way for decades, but in the end, Dublin Bottle Works could be seen as causing actual harm to the brand.  How?  They operated under an unauthorized logo, selling a non-standard formulated product, and selling outside their assigned distributor territory.  This hurt the company’s image with the public and their other distributors.  It also cannibalized sales of the main Dr. Pepper brand, taking sales from other distributors in the surrounding areas.  If you were a distributor who was losing sales opportunities because the customers in your assigned area were buying from another distributor, you’d be mad too.  I can see it both ways, first you have to honor your agreements, second, the market is speaking.  They want the formula Dublin Bottle Works creates. The loss here is that Dublin Bottle Works refusal to honor their agreement by only selling in the assigned territory, caused the parent company to take action.  Their only recourse was to put an end to the rouge distributor.  Another small business get crushed by a corporation, but they had it coming.- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future epiSupport the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Today I’m joined by Jeff Watson of Packmule BBQ.  By day, Jeff works in corporate America, but his true passion is food.  Specifically, BBQ.  I’ve had the opportunity to indulge in Jeff’s cooking and learned that he created a seasoning that is part of the secret to his food tasting so darn good.  Jeff welcome to The Clear PATH To Cash Podcast.Reason for topic:  It’s no secret that many people dream about starting a business well before they get started.  They have an idea, and maybe some resources to launch a new business while they are still employed elsewhere.  So in essence, you pick up a part time job.  That part time job, which you hope will become the business that fuels your dreams is called The Side Hustle.  The problem is, sometimes its more difficult than it looks. Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.  Part 1: Content Notes: It was interesting to hear how Jeff came up with the name Packmule BBQ for his new business venture.  One of the hardest things to do when you start a business is settle on an identity.  Who are you going to be, what do you stand for, and how are you going to operate in society?  Jeff has a well thought out plan for the future of his company.Anytime you start a business, you have to put in the same amount of work. This becomes increasingly more difficult if you are trying to maintain a full-time job at the same time.  Learn how Jeff is handling the challenge and what he is doing with his time.We also learn what the trigger point is for Jeff leaving his full-time job and working in his own company is.  His is the main concern that most of us have when starting a business, but it’s not the only reason to venture out from the safety and security of an employer.Lastly, Jeff gives his advice to someone wanting to start a business.  I was surprised to see it aligned so close to my signature course The Clear Path To Cash.If you want to know more about Packmule BBQ and keep up on their progress.  Visit: www.packmulebbq.com  Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review. My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.” Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Title:  Top 3 Complaints Small Business Owners Have About Their Banker.Subtitle: How bankers can get back on the SMB pedestal.Welcome to The Clear PATH To Cash PodcastToday’s Topic: Today we are going to explore the relationship between the small business owner and their banker.  It’s a complex and sometimes frustrating dance that often leaves a bad taste in the business owner’s mouth.  After conducting a few hundred seminars, and talking to over 1000 business owners, I’ve found the top three complaints that SMB’s have about their banker.Reason for topic:  It’s no secret that small business owners need bankers and vice versa.  The problem is they don’t know how to relate to each other.  There is a language of business, and the first obstacle to overcome in the conversation is for bankers to understand how they can best help the small business owner.Let’s get into it, BUT FIRST...Remind listeners:- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review. Part 1: Content Notes: In order to understand the dynamics of the banker/business owner relationship you have to look at the motivation of the two groups.  The banker, sometimes called a relationship manager or loan officer, is charged with growing and nurturing the small business channel.  This is the sales arm of the bank and they have a goal of increasing the bank’s share of the business owner’s business. The business owner sees the bank as a necessary evil.  They need the products that banks provide but are easily frustrated with the process because they often lack the same level of financial sophistication as the banker.This conflict presents a real opportunity for both parties and this episode tackles the three main complaints that business owners have about their banker.  If bankers can address and overcome these complaints, they can experience real growth in their business. This episode confronts the term “relationship banking” head on and challenges bankers to live up to this ideal by working toward understanding their clients better.Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review.Mentioned: First Research http://www.firstresearch.com/ My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.” Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Do You Work For Yourself Or Are You A Non Paid Tax Collector For The Government? Interview with Vic Vines, PEO Consultant – LL Roberts Group  Today’s Topic: I’m joined by Vic Vines, who I first met at George’s restaurant in Waco Texas, prior to a Baylor v. Oklahoma football game. Besides being an all around great guy, Vic is a PEO Consultant for LL Roberts Group, helping small business owners focus on their core business activities, by taking on the headaches associated with employee administration.  Reason for topic:  As the rules get more complex, small and mid-sized business owners need help making sure their dotting their “I”’s and crossing their “t”’s to stay out of trouble.    Let’s get into it, BUT FIRST...   - Go to CashFlowMike.com for all the show notes and links mentioned from this episode. - Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel. - Also make sure to click the bell button to be notified of all future episodes. - Go to your favorite listening platform (iTunes, Spotify, Google Play) and subscribe and leave a review.  Part 1: Content Notes:  It’s always interesting to learn how people got into the business that they are in.  Especially when your guest began his career as an NFL player for the Washington Redskins.  Vic was part of a Super Bowl winning team and is now attacking business owner issues with the same enthusiasm and drive that made him successful on the field. With now 35 years of sales and consulting, Vic has a pretty good idea about who the small business owner is and understands the challenges they are facing with an ever increasing administrative burden.  Growing a company requires adding employees and Vic’s company helps your grow without getting into legal trouble. LL Roberts Groups makes no bones about it.  They ask you, the business owner if you have become an un-paid tax collector for the government instead of the craftsman/tradesman that you are.  Vic has an interesting response to this question. I asked Vic to explain the question on his website.  As a business owner or manager do you feel as though the government has mad you a non-compensated highly penalized tax collector?  He said as the laws become more complex, small business owners find themselves doing more unpaid work for the government to stay compliant. I liked how Vic compared the people who do the work for his organization to professionals in the NFL. We both agree that most of this work should be  left to the more experienced professionals. At the end,  Vic shares his advice for anyone wanting to start a small business. Check out LL Roberts Group at http://www.llroberts.com/  Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questions regarding today’s episode. - Remember to go to Youtube.com and subscribe there. - Remember to go to your favorite listening platform (iTunes, Spotify, Google Play) and follow us and leave a review.  My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner.”  Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)

Interview With The CHIEF NERD - Seth David of Nerd  EnterprisesToday’s Topic: I’m joined by Seth David, who first achieved celebrity status with a brilliant marketing gimmick.  He just wore a shirt that said “Seth David”, while his business partner wore one that said, “Not Seth David”.  His reputation and the value he gives the small business community is done nothing but grow ever since.  I’m proud to have him as my guest and to call him my friend.  Check out his website here:  www.nerdenterprises.comReason for topic:  When I think of an individual who has made an impact, I think of Seth.  As we close out the year, I like to reflect on the things that have made an impact on me, and Seth came right to mind.Let’s get into it, BUT FIRST...- Go to CashFlowMike.com for all the show notes and links mentioned from this episode.- Go to Youtube.com and search “Cash Flow Mike” and subscribe to the channel.- Also make sure to click the bell button to be notified of all future episodes.- Go to your favorite listening platform (iTunes, Spotify, Google Play) andsubscribe and leave a review.Part 1: Content Notes: I asked Seth to give us some insight into how he got to his current influencer position.  Seth took us through his journey and how the term influencer isn’t something that he aspired to be.  In fact, you’ll fail if you try. Listen as Seth tells us about the moment he thought he could make a real impact and how he drew on his personal life to direct his business.  His new place to get information and video content is new.nerdenterprises.com Next, we are going to talk about controlling another cash drain on your business, labor dollars. BUT FIRST, I want to remind you all that you can go to CashFlowMike.com for all of the show notes from today’s episode, you can also send us any questions that you may have for me about today’s podcast or building cash flow in general. Part 2: Content Notes: Then I asked Seth: What has been the biggest realization you have had when working with small businesses?  Although Seth has a huge following with the accountant and bookkeeper space, his original goal was to help small business owners.  He has had a wealth of experience with all sizes of companies and he divulges the one theme that is predominate among them all.   One other topic Seth and I covered was his opinion of what small business owners should be doing now concerning their cash flow.  Specifically, I was wanting to know if there were any new trends happening that he could share.Lastly, Seth let me know what motivates him in the morning and how to increase sales. At the end, Seth shares his advice for anyone wanting to start a small business. Closing Remarks: - Remember to go to CashFlowMike.com for all show notes and questionsregarding today’s episode.- Remember to go to Youtube.com and subscribe there.- Remember to go to your favorite listening platform (iTunes, Spotify, Google Play)and follow us and leave a review. My name is Cash Flow Mike and you’ve been listening to Clear PATH To Cash. Thank you so much.  And remember don’t be a D.U.M.B. business owner. Support the show (https://www.elevatefinancialtraining.com/product-page/support-the-clear-path-to-cash-podcast)