How small business owners can unlock hidden profits by optimizing financial levers and making smarter money decisions.

Show Notes Page: https://www.thehowofbusiness.com/579-business-poll-results/

Small business owners often focus on chasing revenue, but revenue does not always equal profit. In this episode, Henry Lopez is joined by Jamie Trull, CPA, financial literacy coach, and profit strategist, to discuss the essential profit levers that can transform a struggling business into a thriving one.

Jamie shares her journey from corporate auditor at Ernst & Young and finance leader at Coca-Cola Enterprises to becoming a champion for women-owned small businesses. After leaving corporate life, she pivoted from one-on-one client work to scalable education programs and group coaching.

Her mission is clear: help entrepreneurs understand their numbers and build profitable, sustainable businesses.

Throughout the discussion, Jamie emphasizes that profit is simply the result of revenue minus expenses, but too many entrepreneurs focus on volume instead of fixing underlying financial inefficiencies. She breaks down profit levers such as price, average transaction value, and volume, showing why a simple 2% price increase can be more powerful than chasing dozens of new clients.

Henry and Jamie also explore strategies for managing unprofitable products, such as re-pricing, reducing costs, and communicating value to customers when raising prices. They highlight how differentiation and branding help small businesses avoid competing on price alone.

Debt strategy is another key theme. Jamie stresses that debt can be an effective tool when used wisely for investments and expansion, but warns against using it as a crutch to cover poor financial management. She compares debt to a snowball that can roll out of control if entrepreneurs aren’t intentional about their borrowing.

“Revenue is vanity, profit is sanity. Don’t confuse the two.” – Jamie Trull

Jamie also previews her upcoming book, Hidden Profit, releasing in October 2025, which offers actionable financial strategies for businesses scaling from $50,000 to $500,000 in revenue.

This episode is a must-listen for aspiring and existing micro-business owners who want to improve profitability, strengthen financial foundations, and make smarter decisions about growth and debt.

Jamie Trull is a CPA, financial literacy coach, and profit strategist who left a successful corporate finance career at Coca-Cola to help women-owned businesses take control of their money. Through online courses, group coaching, and now her new book Hidden Profit, Jamie empowers small business owners with the tools and confidence to improve profitability and achieve financial freedom.

This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Business poll results reveal the biggest challenges small business owners face, from marketing struggles to sales fears, debt concerns, AI adoption, and growth barriers.

Show Notes Page: https://www.thehowofbusiness.com/579-business-poll-results/

In this episode of The How of Business, Henry Lopez reviews recent poll results from listeners, highlighting the top challenges and concerns facing small business owners today. From avoiding common mistakes to embracing AI tools, these insights provide a clear picture of what entrepreneurs are struggling with most.

According to poll responses, the leading concerns include poor marketing and the tendency to “do it all yourself.” As Henry explains, many owners fall into the trap of unfocused marketing or refusing to delegate, both of which limit growth. “If we try to be everything to everybody, we will likely fail,” Henry notes, emphasizing the need for a clear plan and target customer.

Sales challenges also emerged strongly, with listeners citing not knowing what to say and fear of rejection as the hardest hurdles. Henry shares tips for crafting an elevator pitch and reframing rejection as feedback rather than failure, pointing listeners to related episodes on sales fundamentals and elevator pitches.

Borrowing money was another hot-button topic. Many respondents admitted to fearing debt altogether or being unsure how much to borrow. Henry stresses that while personal finance often teaches us to avoid debt, smart leverage is essential for growth. He offers his free Small Business Borrowing Checklist to guide owners through best practices.

AI usage continues to gain traction, with most listeners experimenting with platforms like ChatGPT or features embedded in existing tools such as QuickBooks. Henry encourages pushing beyond simple content creation to using AI as a true assistant in research, planning, and decision-making.

When asked about the most important skills for success, self-discipline and resilience topped the list. Henry highlights how discipline and the ability to make tough decisions are critical traits for entrepreneurs transitioning from corporate roles.

Finally, growth challenges tied to lack of strategy and weak marketing or sales reveal the importance of clear, focused planning. Henry reminds listeners that even a one-page strategic plan can create the clarity and consistency needed to scale.

This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

The loyalty, referrals, and pricing power a small business gains by consistently delivering remarkable customer experiences, even when the ROI isn’t directly measurable in dollars.

Show Notes Page: https://www.thehowofbusiness.com/578-vance-morris-return-on-experience/

Vance Morris shares how small businesses can create Disney-inspired customer experiences to drive loyalty, stop competing on price, and generate long-term profitability.

Customer experience isn’t just for theme parks, it’s a competitive edge for every small business. In this episode of The How of Business, Henry Lopez welcomes back Vance Morris, a customer experience expert, keynote speaker, and bestselling author, to explore how entrepreneurs can apply Disney-inspired strategies to delight customers and grow profits.

Vance’s journey is as unique as his message: from working security at a birth control factory, to a decade leading operations at Disney, to running a premium carpet cleaning business, and now helping small business owners systematize exceptional service. Along the way, he discovered that systems equal freedom and that creating unforgettable experiences doesn’t require massive budgets—just consistency, creativity, and attention to detail.

One of the key lessons is what Morris calls Return on Experience: while you may not be able to track every dollar of ROI like you would with a marketing campaign, great customer experiences yield loyalty, referrals, and pricing power. “You won’t profit unless you implement,” he reminds us, underscoring the importance of turning insights into action.

From setting up daily team stand-ups (borrowed from Ritz-Carlton) to scripting customer interactions and reinforcing emotional connections, Vance illustrates how even trades-based businesses can elevate service. He highlights examples from Disney’s “line entertainment” practices to simple home service details like wearing booties or protecting corners, proving that small touches build big loyalty.

Henry and Vance also dive into the Loyalty Profit Engine - a retention system designed to keep your business top of mind. With acquisition costs soaring, Vance explains why it’s far cheaper (and more profitable) to nurture existing clients. His approach includes monthly print newsletters, follow-up offers, and creative “wow” moments that ensure customers feel valued long after the transaction.

Vance now leads immersive Disney boot camps, taking business owners behind the scenes to study customer experience in action. Participants leave with a blueprint to “Disneyfy” their business on Monday morning. As Henry points out, translating world-class service lessons into everyday businesses is challenging for many owners, and Morris’ work bridges that gap.

Whether you’re in home services, retail, or professional consulting, this conversation will help you shift from competing on price to commanding loyalty through unforgettable experiences. As Vance puts it: “At the end of any interaction, you want your customers to say, ‘Oh my God, you’ll never guess what happened…’”—for all the right reasons.

This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com