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 Organization
• Conducting Effective Meetings
• The 80/20 Rule in Business
• Cash Flow is King
• Avoiding Leadership Bottlenecks
• Strategy and Execution are the Same Thing
• Start with an Articulated Vision

Contact gest Bill Flynn at catalystgrowthadvisors.com

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

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 Centers
• Return on Investment vs Affording a Hire
• How Much Do You Need to Sell to Afford a Hire?
• How Much Does a Salesperson Need to Sell to Pay for Themself?
• How Much Must the Business Grow to Hire a Manager?
• Labor Value Multiple
• Forecasting; Fixed & Variable Costs

Download the employee Hiring ROI Workbook using this link

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

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-employees
• How entity type and tax elections impact the taxability of owner compensation
• S-corporations and reasonable compensation standards
• How accounting for owner compensation can have a dramatic impact on financial statements and evaluating business profitability
• Pitfalls to avoid with owner compensation
• The importance of your CPA utilizing a holistic tax plan to help optimize your tax liabilities

Connect with guest Greg Reed at:
www.smartbookstax.com
greed@smartbookstax.com

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/