Small Business Confidential

Mike and A’marri talk about getting into the zone, taking naps, scripting your day and being honest with yourself as an employee or business owner.2:28 Mike and A'marri talk about how a power nap refreshes your mind and helps you solve problems, and gets more better ideas.10.33 Mike discusses, getting into the zone means dedicating time to it.19:57 Mike discusses why 90% of restaurants fail and why some people never own a business

When you hear someone say "you don't know shit, if you haven't met a payroll," remember that they are speaking from experience. Running a business requires more than just book smarts and theoretical knowledge. It requires real-world experience and an understanding of what it takes to meet the financial obligations of a company. Among these obligations is meeting payroll - a vital responsibility that affects both employees and business alike. Take a listen to Mike and Brook as they discuss meeting a payroll and more in the latest podcast of Small Business Confidential.1.42 Brook talk to Mike about payroll and cashflow and the lessons he learned in the past four or five weeks.7.05 Mike discusses meeting payroll, selling jobs to meet payroll, and making money on these jobs to meet payroll.11.26 Mike points out that the best training every high schooler can get is running a small business16.03 Mike ends on a note that meeting payroll is like an ultimate cold shower, a wake-up call, and you need experience with that before you go out on your own.

Don't just talk about your goal, do steps to make it happen. In this episode of the podcast, Mike and Alex talk about how people often talk endlessly about what they're going to do, but nothing ever gets done. Stop talking and start doing, make progress on something every single day. Also covered a few topics related to the Cleveland Heights housing problems.2:48 Mike opens up about people endlessly talking about what they're going to do and nothing ever gets done. 8:04 Mike says the key to success is to have a goal, to have a plan, and then to be persistent.5:15 Alex discusses there are doers and there are talkers.12:14 Mike talks about not having a mentor or coach, only people who influence him15:43 Mike and Alex discuss confidence as one of the greatest skills of entrepreneurs.23:51 Mike mentions vacant houses are one of Cleveland Heights' biggest problems.

A large number of vacant houses in Cleveland Heights are a serious problem that needs to be addressed.  We can't ignore these hundreds of vacant homes, so we are creating Project Rath, a project aimed at tackling this issue and taking it a step further. Find out more about this project in our first podcast episode where we discuss it and explain it in more detail.2:56 Mike Reilly explains what Project RATH is all about7:21 Mike Reilly discusses vacant houses and not paying taxes22:54 Mike Reilly says if housing is handled properly, retail will follow23:18 Mike Reilly discusses Project Wrath in more detail24:42 Mike Ferrante discusses what a difference it would make if a few of those vacant houses were put on the market each month, since inventory of rentals is low

As the world changes rapidly, the concept of work changes as well. Companies no longer focus solely on the tasks that need to be completed, but on the people doing the work - the workers. Mike Reilly and Mike Ferrante discuss this and more in this latest episode of Small Business Confidential.2:13 Mike Reilly points out we don't need the work; we need the workers.9:13 Mike Reilly discusses Amazon's success because it recognizes people online want everything at one place.13:15 Mike Reilly talks about where do you find workers 18:33 Mike Ferrante speaks about the word value22:14 Mike and Mike discuss hiring the wrong person as one of the most expensive mistakes business owners make22:40 Mike Reilly mentions that he's had success hiring part-timers; hired semi-retired people for the past couple of years.29:11 Mike mentions immigrants don't take jobs, they create them.

Mike and Mike mix a rich stew of contrarian thinking.  Why go to college?  Why Sales classes are so important.  If you go to college, how should you approach that experience? Take a gap year?  Why not?3:02 Mike and Mike talk about the common myth fallacy says that if you earn good grades in high school, you should go to college because if you don't, you are a loser.13:13 Mike talks about the ability to fix your own flat tire in your career is one of the most important things you need in life and that Wikipedia's most successful people had to deal with failure and didn't get into college, so you're a fool at the poker table if you think getting into college is the only way to success.18:10 Mike talks about when he went back to college after a gap year and was proactive this time24:38 Mike emphasizes the importance of not limiting yourself to a single career, since an initial career could turn into four different careers.

How would you sell a house, a boat, or yourself? What are the steps in the sales process? Finding the right method that works for you is the key to success in sales. Mike Reilly and Mike Ferrante will discuss their step-by-step sales process and how they close sales and deal with objections. This is a must-listen episode. Stay tuned.3:07 Mike and Mike discuss the steps in the sales process7:05 Mike points out to remember you are also in marketing mode when you are in sales mode 10:22 Mike talks about the importance of asking questions and defining what that destination is 16:59 Mike talks about learning how to sell and mentions those who have a false sense of security, thinking that their resume will be all that is needed.19:58 Mike mentions those who are in the 50’s middle managers who got laid off and they make the same mistake as that naive college person does.24:04 Mike mentions the art of selling is the art of building a positive relationship with the counterparty28:39 Mike and Mike talk about the last part of the sales process; closing and meeting objections29:38 Mike and Mike talk about that selling is not manipulative

In this podcast,  Mike and Mike bemoan the lack of priority to teaching sales in High School or College.  Like having a car with no gas.2:01 Mike and Mike talk about the art of selling5:13 Mike and Mike discuss the importance of listening to the market when starting a business.14:08 Mike Reilly talks about sales is like a four-letter word 19:39 Mike Ferrante speaks about methodology of selling20:25 Mike Reilly mentions a bias against sales29:35 Mike and Mike discuss the importance of listening when selling33:23 Mike Reilly concludes that sales class involves reading and writing

In this episode Mike and Mike challenge you to actually make time to Think each week.  This is not 'Daydreaming' but actual hard thinking.  A minimum of one hour.  Two hours are best.  Keep track on your calendar and you'll realize how little time you spend 'thinking' about what you are doing.6:04 Mike Reilly talks about the good thing and the bad thing of having your own business.10:39 Mike Reilly discusses one of the problems with figuring out whether you're making a profit15:18 Mike Reilly speaks about controlling your expenses.22:45 Mike Reilly talks about constantly challenging yourself in a loving and respectful way.

For any new business, listening to the market is crucial, as you will be able to determine whether or not it is sustainable. Seeing the market first will maximize your chances of success. In this episode, Mike and A'marri discuss the changes in the market over the years and why listening to the marketplace is necessary when deciding on a business idea. 6:57 Mike and A’marri discuss how the market changes every decade, as well as how they evolve and deal with virtual assistants.13:43 Mike and Amarri discuss the idea of what the market wants, might differ from what the market actually wants15:33 Mike and A'marri discuss if such a business idea will be sustainable in terms of paying the bills or is it just an interesting hobby.

Every business starts with an idea. But before you can turn your idea into a reality, you need a plan. Business plans are road maps that can assist you with the early stages of starting your own company. You can also use it in the future as your business grows and changes. Join us on our new episode as we discuss importance of business plan and its process from the planning stage to implementation and much more2:35 Mike Reilly emphasizes the importance of having a metric you use to gauge your progress every week and share his two analogies.6:40 Mike talks about some questions to ask yourself about your business - Where are you losing money, where are you wasting time.14:00 Mike Reilly talks about the dirty little secret behind business plans.22:13 Mike Reilly discusses how the ability to measure how much money each job makes will help you identify profitable niches.29:11 Mike Ferrante discusses saving as part of your business plan.

Hiring people is one of the hardest things to do, but it's also one of the most important as well. Finding qualified people to hire, and keeping them motivated can be a challenge. This podcast episode covers these topics in detail, providing valuable insight for anyone running their own business or hiring for a company.2:24 Mike and Brook Reilly open the discussion on what’s Brook’s observations in the last 10 years hiring in their company.3:38 Mike Reilly talks about people that are trainable. 10:57 Mike Reilly discusses the different hiring buckets, which is something they haven't done before20:26 Mike Reilly concludes the episode by describing how the hardest part of running your own business is dealing with employees and finding the right people.

There are many students who choose to work part-time jobs after school. While some students may do this for the extra money, others may do it for the valuable life lessons it can teach them. Working at a part time job after school can have many benefits. For one, it can help you to learn how to make money, save money at an early age. Having a part time job can also teach you responsibility, time management, and other important life skills.  So, considering taking on a part-time job? Listen to Mike and Brook and we'll help you weigh the pros and cons for deciding if it's right for you.2:44 Brook Reilly talks about how he would raise his kids given his own experience in terms of part time jobs4:52 Mike and Brook Reilly discuss about going to college 8:38 Brook Reilly talks about how his gap year saved his life and put him on a path that led him to where he is now14:22 Mike Reilly discusses having extra-curricular job is as important as learning physics or chemistry, and how it taught you to develop the ability to make money, save money

Every business need planning, and everyone who wants to advance in their careers needs it as well. If you don't plan, you can't be sure that your goals will be met or that you'll even know what your goals are. The act of planning helps us to stay on top of our schedules and make completing tasks easier. Mike Reilly and Mike Ferrante are joined by Alex Hertzberg in this episode. In their discussion, they emphasize the importance of planning. They also share how they do their own planning strategy.4:36 Mike Reilly started the discussion about how you plan and how you value planning.7:21 Mike Reilly with Mike Ferrante and Alex Hertzberg discuss the rules of planning.11:34 Alex Hertzberg mentioned that good planning should be a habit.19:21 Mike Reilly talks about the quickest way to improve yourself and measure how well you're learning how to plan.24:07 Mike Ferrante asks about what to do when a plan is done and it needs to be adjusted.

The way you deal with mistakes and confrontations at work says a great deal about your professional abilities. It can be challenging to know how to react in these situations, but you can do a few things to make things easier for yourself. In this episode, Mike Reilly and Mike Ferrante will share their thoughts on confrontations, mistakes, and how to deal with them.15:52 Mike Reilly and Mike Ferrante talk about making mistakes and how to deal with them.19:25 Mike Reilly talks about the prospect of confrontation.21:39 Mike Reilly shares what it takes to be confrontational.24:31 Mike Ferrante talks about the right time to have a confrontation with yourself.26:29 Mike Reilly discusses how writing mistakes in a journal and acknowledging them will help you.

Lawyers are often seen as unapproachable. What if you could sit down and have a conversation with one? What if you could learn about their work, their life, and how they got where they are? This episode features Mike Reilly and Mike Ferrante talking to lawyer/entrepreneur Alex Hertzberg. They discuss what you are getting into if you start your own business. Topics discussed include understanding contracts, and obtaining good insurance. They also discuss consulting and services costs, customer management and the qualities their clients must possess to do business with them.14:34 Alex Hertzberg tells the importance of having a good insurance to cover all six plaintiffs25:15 Mike Reilly discusses the nature of reactive lawyers29:33 Mike Ferrante states what he believes makes a good lawyer34:16 Alex Hertzberg elaborates on the first question a client asks 38:53 Alex Hertzberg describe what acronym business owners should engrave on their pillowcases44:35 Mike Ferrante explains what type of process they use in their questionnaires to their clients 

You find a job or create a job? The answer to this question is both. You can find a job that already exists and apply for it. You create a job by being proactive and innovative. You find a job by being resourceful and persistent. You create a job by being creative and taking risks. Both have their own advantages and disadvantages. On this episode, Mike Reilly will be joined by Brook Reilly and A'marri Clancy to help you decide. Should you find a job or should you create one?8:31 A’marri Clancy explains the importance of having a long-term goal connected to a career and being a long-term thinker11:54 Brook Reilly talks about how college is the logical next step if you have a certain goal17:35 Mike Reilly discusses the value of being proactive when it comes to finding a job20:01 Brook Reilly talks about learning more from life experiences than from a college degree23:13 Mike Reilly emphasizes the phrase ‘supposed to do‘ that everyone should be careful26:55 A’marri Clancy points out that having a traditionalist mindset is difficult to escape without real-life experiences30:25 Mike Reilly talks about ‘Building Connections’33:11 Mike Reilly concludes his final note and lesson for this episode

A mentor is someone who can help guide you to success. A mentor can help you navigate your career, give you advice, and introduce you to new opportunities. But how do you find a mentor? How do you start reaching out to people who have the skills and experience you want to learn from? In this episode, Mike Reilly and Mike Ferrante share their thoughts on finding a mentor.4:36 Mike Reilly and Mike Ferrante start the discussion about how to find a mentor13:54 Mike Reilly and Mike Ferrante share some of the things that a mentor should teach26:43 Mike Ferrante outlines some fundamental questions to ask a mentor30:57 Mike Ferrante shares another strategy in seeking out a mentor32:04 Mike Reilly talks about what and who your mentor should be

Starting your own business or taking AP courses? Choosing either one can be challenging. It depends on your skills and goals. Some people may prefer to take AP courses in order to get a head start on their college education, while others may be more interested in starting their own business in order to gain real-world experience. Both options have pros and cons to consider before deciding on a final choice. In this podcast, Mike Reilly and Mike Ferrante discuss the advantages and disadvantages of starting a small business or taking an AP course. The two also share how they started a small business while still very young.3:45 Mike Reilly talks about how he started his first small business as a kid6:09 Mike Ferrante discusses how learning how to talk to people is the first step to becoming a good salesperson7:02 Mike Reilly and Mike Ferrante discuss two independent road leads one could follow. Lemonade stand road where you're working on your own, or got the AP and spend all your entire time studying to get good grades.12:29 Mike Reilly talks about the illusion that getting good grades will lead to your success15:35 Mike Reilly emphasizes the value of having a mentor24:31 Mike Reilly and Mike Ferrante discuss how they would mentor someone at 13

Is college connected to your goals? There are countless opinions on whether or not college is necessary for success. Some people believe that college is the key to a bright future, while others think that success can be achieved without it.  The truth is, there is no right or wrong answer, as the connection between college and success will vary from individual to individual. However, there are a few factors to consider when deciding whether or not college is the right step for you. It all depends on your individual goals and what you want to achieve in life. In this episode, listen to Mike talking to Brook, Travis, and A'marri about whether or not college is truly connected to your goals.3:11 Mike Reilly talks about the myths of small businesses7:06 Mike Reilly mentions about getting your MBA13:39 Mike Reilly discusses with Brook, Travis and A’marri about getting into college and knowing what you want to get out of it21:37 Mike Reilly talks about the key to starting your own business