The Entrepreneurship Elevated Podcast

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Episode 81: Profitability in Farming with Kathryn Kerby Apr 20, 2016

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Today, Kathryn Kerby talks about profitability from the aspect of a farmer. If there’s one business that is difficult to make a profit, it’s farming. Kathryn’s farm was struggling to survive and hit rock bottom; when Kathryn found Profit First she implemented it immediately, and now her farm has quadrupled in revenue and slashed costs in the process. Discover how this 20-acre farm turned a financial calamity into a prospering business. Welcome to Episode 81 of the Profit First Podcast!

Episode 80: Pivoting to Profitability with Jenny Blake Apr 18, 2016

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Jenny Blake explains that pivoting is about doubling down on what’s already working. At the end of the day regret only comes from not taking action… so have the courage to do it!

Episode 79: The Power of Profitability in "Giving" with Bob Burg Apr 13, 2016

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In our most powerful interview of all time, author of The Go-Giver, Bob Burg, joins Mike Michalowicz, Chris Curran and Kristina Bolduc on Episode 79 of the Profit First Podcast! The tremendous trio asks Bob the question “how can you be profitable by giving?” Bob shares a remarkable story of different ways that givers come out ahead. Bob provides techniques on the importance of humility and sharing. Kristina share’s a personal story of how her Grandmother defined a significant element of her life by giving an apple when it was the only thing she had to share.

Episode 78: A Profit First Implementation with Nikki Begg Apr 11, 2016

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Nikki Begg ran a profit first analysis of Petals, her business in Bermuda,and finds that she is bleeding money – and now is at the precipice of a decision… does she sell the business, tank the business, or do something else? In this episode we discover there is yet ANOTHER option that Nikki didn’t think about. Mike Michalowicz walks her through an implementation of Profit First and facing the hard decisions you need to make when you run multiple businesses.

Episode 77: Transitioning From Check-by-Check to Profitability with Keith Fear Apr 06, 2016

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Today, Keith shares his story of how he was trying to develop a business in hot air ballooning for years while working a full time job. While the business revenue grew, their profitability was never enough where they didn’t have to take on debt and were surviving check by check. The most challenging part for Keith was not making enough of an income to replace his full time job. Keith found and implemented Profit First – and the results are nothing short of magnificent. The most interesting part of Keith’s story is that as the business implemented Profit First it actually spawned faster growth than ever before [we’re noticing a consistent trend here]. When businesses take profit first they are forced to become more innovative and find better ways to do things more efficiently… and in many cases the revenue increases. Among the strategies that Keith used he discovered that he had great employees, but they weren’t doing the great things they should be doing, so he shifted them around. Keith also cut expenses that weren’t working for his business and amplified certain marketing methods that worked extremely well.

Episode 76: Accounting Basics for Entrepreneurs with Jody Padar Apr 04, 2016

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In this episode we discuss the accounting basics that every entrepreneur needs to know. When you’re working with an Accountant, what questions should you be asking them? How often should you be meeting with them? Do you understand the different key financial statements and is your Accountant explaining them to you? How can you more towards forecasting and predicting how your business financials will be? Jody Padar and Mike Michalowicz give us the entire formula to making sure you get that right with your Accountant. Tune in!

Episode 75: Profit and Membership Organizations with Michelle Villalobos Mar 30, 2016

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Michelle Villalobos shares her story of launching a membership organization – and how it wasn’t all sunshine and roses. Michelle left a corporate position to start her company; it was only after she burned through all of her savings that she was able to start making the turn towards a successful business… but her story wasn’t done yet! It took years to finally get her business to a level of consistent profitability. Then with the implementation of Profit First, Michelle’s business is achieving success and profits to a degree it never has been before. In this episode you will also discover amazing insights to the concept of future self and the ability that we all have to make our own stage. You don’t want to miss this one!

Episode 74: Fundraising and Profitability with Julia Pimsleur Mar 28, 2016

Show notes

Julia Pimsleur shares the 8 steps necessary to raise funds – you do not need to do them all, however, you have to be aware of all the steps and take action on at least 5 of them. Julia also explains all the different sources of funding as well as angel investing and venture capital. She also shares a gaggle of resources that you can visit to find funds in your local community.

Episode 73: From Loss to Profit with Dr. Sabrina Starling and Chuck Parmely Mar 23, 2016

Show notes

Chuck Parmely owns a $3.2 million dollar overhead door business – which sounds like a wildly successful business until you find out that his company has been in existence for 37 years, barely scratching 1% to 3% profitability; in other words, his business wasn’t making any money and surviving check by check. Chuck has implemented Profit First under the direction of Dr. Sabrina Starling and subsequently, a business that had a $20K loss in 2014 turned around and achieved a $220K profit in 2015, and 2016 is looking even better… all while in a rural area that was experiencing an economic decline. Chuck’s success story has been so impressive that his accountant went out of their way to call him and figure out his formula to success… and that’s what you’re about to find out!

Episode 72: The Irony of Success and Profitability with Matt Shoup. Mar 21, 2016

Show notes

Matt Shoup shares his story of how he went into his business with $170K of debt and turned it into a multi million dollar practice – and in the process became affluent on his own accord. In this episode Matt shares the secrets to becoming successful… the irony is, when it comes to making that first sale (or any subsequent sale), shiny brochures and great references are of no importance; It’s all about finding a common bond with your client. Additionally, Matt explores the game of numbers and how calculating it in a couple dog bites guarantees you a sale. Matt also talks about the power of getting out of your own business and letting the true pros/colleagues run the show.

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