21 Burst results for "PNL"
"Hey everyone and welcome to another paid for Friday episode where we highlight people that we feel are doing a great job of Polish leadership content resonates with us. We will include links to their work and tag them on our post to make sure that they know we appreciate them. This is our way to say thanks to other leaders and individuals that are having a positive impact on helping others become better leaders through sharing your thoughts opinions and ideas online for all to see and hear Chris. I have always wanted to use our platform to advocate for other people passionate about leadership and our listeners much content as possible to help sharpen their own skills through different perspectives and approaches. If you like US check out any one specific please tag him in the comments or send us a message with links to their content on this episode. I WANNA recognize Sean. Newsom SEAN is a season retail manager is open to new opportunities with this pandemic. We've seen a lot of people impacted especially in retail now. I could go on for hours about people who lead retail stores in their connection to their people and their loyalty to their companies and their ability to manage. Pnl's present on performance calls deal with HR issues and exceed customer expectations. But that would just be the tip of the iceberg on what most retailers are capable of the reason I wanted to highlight. Shauna is because of how she is handling her current situation. I saw one of her most recent posts and even with the uncertainty of her organization and her job. She was recognizing her team for the hard work they were doing. It was genuine because after checking out her content came across opposed that she shared a wild bag and it read and I quote when I started my new role store manager of a new store at a new company. I not only had to learn an entire new process and new procedures but new employees as well like every new store manager. I began assessing my employees from the beginning. I listen to feedback from the former store manager as well as conducting daily observations one of the quote unquote week performers. I quickly assessed was simply in the wrong role. I moved this young lady to a new role within the store. And she is now flourishing beyond words. The moral of the story is treat your employees like they matter and like their work matters and give them a job that speaks to them and you will be amazed the outcome.
"pnl" Discussed on WEEI
"George Costanza is racing a bunch of eighty five year olds on scooters right on I'm a little hop around scooters and that's kind of what you saw the PNL central last year but I think that this division Natalie Fisher is really going to bludgeon each other all season long it's gonna be fun to watch mentioning that in all central I know a lot of people are pretty in favor of what the Reds have been able to do this offseason since March signings open that some young guys take the next step will be registered so that he got into this year you know Cody I don't have the guts to pick the Reds as central winners I really don't and I love what they did this offseason I really do you bring in the stock if you bring in the Kathy on us and those are two guys that can help an offense that was horrible last year really really bad one of a a bottom bottom five in Major League Baseball around that you have those two guys you have your swore as who is secretly one of the one of the best players in baseball when he's on can you hope to Joey Votto can have a better season than he had last year he showed you should shrink last year but he wasn't really himself so that's going to be enough instead but I could probably make noise especially in that ballpark and if you can get the pitching that you had last year from them who were verification was really good last year all year and they just needed to score a few more runs but just a few more and they would have been in the running for for a wild card so I really like with the Reds did I'm not sure I have like I said I'm not sure I have the guts to pick them in the central I do like that they made all of these all of these upgrades they signed all these guys to try to compete in that division when the other teams around them don't really seem interested in competing and making upgrade so I do like to read a lot I I they're gonna be in the hunt for the first central crown I just I'm not sure if I can pick up yeah Joe Rivera from Sporting News joining us you're talking all things MLB Joe how is Yasiel Puig still a free agent you twenty four home runs last year eighty four RBIs it to sixty seven you still nineteen bags I mean I was a guy's got a sim still available this late this spring no question I I think that some of it is probably attitude that's the one thing we always heard about jass yelp week right is that you know maybe is a little bit of a goofball doesn't take it as seriously as he should I think that plays into it a little bit maybe it's the asking price I don't know so I think that obviously there are a lot of teams that could use about like we examine all thirty teams in baseball probably could but I think some of it is probably maybe it's just not a fit not gap kind of thing for a lot of these contending teams they they've already made their upgrade so maybe C. team swoop in late I think the team opinions can really use them but unions are kind of an embarrassment right now and they won't spend any money to bring him back so you look around usually baseball you know the Dodgers have a loaded outfield you can't look at the activities of the rays are going to spend that money the Mets have a loaded outfield right now so you'll get all the teams that could be contenders that would be willing to spend the money form and and it's not really a big market so I think it is multiple reasons why but I think he's gonna get picked up sooner or later he's he's still got a pretty good track record in the header he's Joe Rivera you get him on Twitter at Joe Rivera **** and he covers major league baseball for Sporting News he's gonna join us every week at this time during the MLB season Joe we love always happen you want.
How RAIN Pivoted to Become a Pioneer in Voice and Conversational AI
"Joined wind rain actually as a consultant and that was a favor to nick and I think coming in that way was important because I really had an opportunity as you understand rain and its assets with a fresh perspective and you know not to mention the fact that everyone loves dish out dirty laundry to a consultant Especially when they're not part of the company and that information gathering was really valuable especially when I ultimately joined a CEO. Because I went into this is wide open at the time that that I joined rain. As Nick mentioned in twenty sixteen rain was doing many things in the technology space website mobile applications and voice was one of them but it really wasn't the focus it was just a small sliver of the business and at the time voice was very much being led by our technology teams somewhat in a silo and it wasn't being approached approach as a holistic strategy creative in tech solution the way that we offer it today there were just so many early indications that voice was going to be ubiquitous rain and had a very unique right to win in this space through our own technology capabilities and relationships but particularly with some of the early traction. We had with the big platform players namely Amazon. Initially at that time so very quickly after joining the company we made the decision to double down to the completely voice. Ai That that was three years ago and we haven't really looked back. And I really believe that that pivot and the ability to be hyperfocused has allowed us to stay ahead of the carbon really maintain income of our advantage in this space. Now what are some of the successes and challenges that making this pivot and to voice has brought to your agency all-star with a challenge. I think think for me as kind of an operational logistic guy him into a brand new space especially innovation has been tricky right so in our previous iteration were building a lot of websites and when I'm building a website I knew it takes about four or five meetings. Close the deal. I the approximate price point. You know of of building a website would be x one hundred thousand dollars. I knew that it would take me X.. Amount of months and I would make up to eighty percent margin when we're in the invasion baker especially building voice experienced. A lot of the things we're doing is we're doing that for the first time. So there's a lot. More education involve or spot. More meeting you'll cycle is longer we're having to get different stakeholders on board. More budgets aren't as clear as they were in the past. Sometimes they come from an innovation group. Sometimes they come from brands. PNL really figuring out how that sweet spot of how to get. The work started how to execute the war how to service our clients. Efficiently has been challenging. Everything we do we do it for the first time. That's been one of the biggest challenges you know on the success side and I'll let you chime in as well you know. We had at agency in our previous existence full of people that came to work at rain digital latitude. We had graphic designers copywriters we strategies we have project managers and we still have a lot of those roles by all those roles. Change Change fundamentally if you're a designer rain in two thousand sixteen well. What does that mean for us? When you now working at a voice company and not an adage dining website and it's been really amazing to watch people involved? I evolve the probably the biggest success I would say the core executive team you bet rain and and down from the top has really evolved. They've evolved their skill sets befall their approach accepting new challenges that playing in a space. That's it's been you and for the most part. A lot of people accepted this with open arms and they become experts in a field. That three or more years ago wasn't even really on their radar so watching the watching people skill sets change has been really exciting.
How to Recession-Proof Your Business
"As of July the United States economy has experienced the longest period of sustained economic growth in nations history folks that's a big deal we should celebrate that but as a result you only have to turn on the news or the radio for five minutes to hear some talking head eight business owners around the country are all too often taking part in the panic parade from the Rainsy Network this is the entree leadership podcast where we business leaders grow themselves their teams and their profits I'm your host Alex Judd in here at Ramsey solutions we wanna make something very very clear it's not a matter of if a recession will occur it's a matter of win and you know what you can't control that but as a business owner there are several things you can control and that's why today we wanted to introduce you to mark Floyd you see mark is the CFO that Dave Ramsey hired destroyed the finances of our two hundred million dollar organization and as such he believes that responding to an even thriving through the next recession has very little to do with risk and chance and everything to do with preparation diligence and common sense this is the longest second expansion in the history of the United States so we're at a hundred and twenty something months now I think the longest before that was in the nineties so it's been a long time since a lot of business owners have been and through a recession if you will so there's probably a lot that have never even encountered that so that might be why there's a little freak out going on because they haven't experienced that up and down before those that are kind of the season vats probably know that there's just as many difficulties that are coming there's probably just as many opportunities and so I think you've gotta look at it you know it depend on what type this year in might it affect you negatively but there's a lot of businesses out there they can take advantage of recession to some extent clearly we don't WanNa great recession like we had back in Oh wait seven Oh eight so I wouldn't let it freak you out and the better that you understand what's going on in your business the less you should be freaked out and the more you are asking questions of finding out what's going on in your world reading about things talking to other business owners what they've seen before maybe you've only been in business for five years and not for fifteen years and you haven't experienced this before go find somebody that has and talk through with them to find out you know what did you do last time what what did you see what signs did you see what how did you start preparing so let's just kind of and the the broad umbrella some action that you ought to take but clearly the better that you are prepared stepping into recession the better your are equipped to handle that I and I spoke earlier when I said advantages if you're sitting on a pile of cash what better time to jump in and maybe acquire something or do something if a competitor of yours or a different line of business that you were looking and going into if they are all sudden are struggling because they didn't see this coming and they didn't prepare for it or they were ill-equipped or they had too much eh too much risk all of a sudden you've got an opportunity in front of you that you can take advantage of so you can get freaked out or you can kind of get pumped up about it sounds sick and the question that's how you could approach it but I think just in hearing you talk about that it's almost like if this recession is going to happen it will happen eventually so it's a win and when it does happen are you ready right I mean it's it's a win it's not an F. we're not going to have a one hundred year long economic expansion ah some point in time this ends they've been saying that for probably four or five years now because this has been going on and we keep having you know good employment report and all that sort of stuff but it's coming and so don't put your head in the sand don't think this is always how it's going to be get prepared and so how you get prepared is probably approach it two different ways if I'm a new business I probably if I went into business having these best case plans well maybe I need to be thinking what was my middle case plan maybe not worst case but what's my middle case and so how would I manage towards those numbers if I thought maybe I'm not going to have ten thousand cells month I'm going to have eight thousand because of something going on again maybe if you're in a Jimmy John's franchise Y- you may sell more sandwiches during during that time but if you're in a high end restaurant business then that's probably not going to be okay so it's going to be individual business it just likes going to affect individuals differently as well but just you know getting prepared for that and knowing what's coming for your particular industry is important and I think that that's kind of at the rated this place both for how we teach people to manage their personal finances but then also how Dave and our company teaches businesses to be aware of manage their finance as you hear the phrase all the time know your numbers your numbers know your numbers in my time working with business owners they know that it's important to know their numbers but so often they don't know what it means to know their numbers so I'd love you to just kind of walk us through when you is the CFO Ramsey solutions sit down with a small business owner the things that you want them to know in order to feel confident about them being aware of the financial state of their business sure I get that opportunity in a couple of times a year when we bring in folks for our entree master series or at Entree Summit and so I immediately want to know what's their what's their knowledge level in this area their business and so I mean simple simple questions like you know what your top line and they look at me like a deer in the headlight then I go no in we need to start with even even more basic stuff what you sell and how much each day but if they were talkline revenues for the year and they can go hey last year we did five hundred thousand and we're on our way to seven hundred thousand this year that I go okay they understand what the past was and they there it's enough so that they know what they're kind of run rate is where they're headed into the future so I you know if they don't know the revenue than what we've got problems right that's right okay so just for the that are listening to this I would recommend as a great time to pull out a notepad if you're driving don't pull out a note pad but go back and listen to this the first one you said was annual top line revenue essentially just a weird Nisa where that lands year to year where it has been in the past and where it looks like things are going right now because if I'm a new business and I started off with one thousand and sales but I'm doing ten thousand and sales this month then my run rate is more like a hundred and twenty thousand annual because it's not twenty thousand total for the whole year it's I'm now operating at a hundred two thousand level well what does that mean what does that mean I can do can I hire somebody now cannot afford to do that. Hey that recession might becoming do I want to do that were what would be a target that I would said were then I can go if I get the two hundred thousand then I could afford somebody you'd be adjusting your business plan all along going here's does coming but I know my numbers I know I know what's going on my business to be able to make good decisions knowing that something like that could be coming and so we talked annual top line and then obviously that kind of feeds into understanding it knowing where you're leaning bottom line based on your expenses and revenue right that's where it gets a little trickier right with a small businesses in particular because if they understand their top line okay so then what do you make and and then it all depends are they taking a salary out of the business or a large bonus at the end of the year but I generally just say remove that from the equation what would it make it if you weren't paying yourself anything what is this business make oh it makes two hundred thousand and you put one hundred thousand dollars salary out so it has a net income of one hundred thousand that's great but what is really make you as a small business owner are making two hundred thousand dollars out of that business so I want to understand I wanNA make sure they understand the difference between what they're what they're counting says that they make attended the on their tax earned versus what their true profit is coming out of that business and these are kind of the fundamental things that really every business owner weathered numbers are a strength for them or not they should have visibility and awareness of is that correct I don't know how you would operate of business otherwise why you're even in business if I I mean I know you probably went into it with a passion to do something to serve somebody or to do something that where you're calling is but you better understand your numbers or you're going to be in that business for very long you're going to wait up and you the mismanage your business and you may have mismanaged with your team members and you may have let people down the path they can add a great spot to work and Lo and behold I'm going business and that's the last thing that any of these business owners wanted to do and I think that that kind of hits home the idea that yes there's tremendous opportunity and knowing your numbers but especially for the basic things talking about right now it's not just an opportunity it's kind of a responsibility exactly exactly the next one is really focusing on monthly run rate and I believe that's really focused I'm on how much it cost to stay in business month over month is that correct right and when I was talking about their run rate on the revenue emmy really got three run rates that we could talk about I was talking about the revenues sure but you also might want to know what your burn rate is if you're losing money you know going into business and I've set aside a couple of hundred thousand dollars and I know it's GonNa take a while before we turn a profit how much am I burning each month so that's your run rate on your expenses while you're trying to build up your revenues and then also on maybe what am I making each month what's my monthly profit tend to be and that's kind of a run rate on that as well so you kind of breakdown that PNL profit and loss statement three different areas revenues and expenses and that ultimately your Prophet so we're looking at monthly cash flow cash in cash out of the business yeah so I'm a CPA and we tend to like to talk in kind of sophisticated turn been here long enough talked with enough small business owners that I know I need to take it out of the you know the classroom and take it into practical
Colin Walsh, CEO of Varo Money, on Building a Career in Finance
"Colin. Thanks for having me up to your office here in San Francisco looking forward to speaking with you. Thanks great to meet you yeah. You're the CEO founder of Viral Varo money which is Challenger Bank will get into what that is and what that means and all that stuff but we usually start off earlier in the career where you got your first job what you were taking where you an entrepreneurial person where you have finance person like when did you start to become the guy yard lay. My very first job was six. Actually so I was a was I was a child actor. Believe it or not so many many years ago but then fast forward further my life I graduated college and went to g capital capital so and I don't know that I ever really thought I'd become a banker international services but I looked at a variety of opportunities right out of right out of college login. This seemed like a really good one. It was a management training program and I came an opportunity to kind of get deep into understanding processes operations marketing geting business development and so after a couple of years. I was running a PNL and it was fun. You know I had a lot of lot of responsibility. Um uh-huh and then I did a bunch of things after that went to American express the first time then came out to the west coast landed at Wells Fargo and I spent spent nine years at wells doing a variety of different things running marketing and sales for for one of the divisions than I actually started the first online consumer credit business wells fargo so when from a powerpoint to a two billion dollar business in two years so the the team at wells was pretty happy about that and then give me give me other responsibilities and then the person who actually hired me at wells brought me to the UK where I spent a number of years I at Lloyds Banking group Iran of a variety of businesses is all the cards and payments businesses and then we had the financial crisis head and then I stepped out of my day job to actually run the integration of the second largest bank in the UK retail bank and so had a interesting time sort of a sewing those two banks together in the heat of the financial crisis and then took over the deposit business the retail business in their mortgage business so you know here we had like some thirty percent market share in the UK and we're in the middle of a financial crisis prices so you can imagine I spent quite a bit of time with the regulators and the government and trying to look at policy look at how to really focus on safety and soundness of the banking system awesome and so then the last kind of big job I had before starting Varo. I went back to Amex in Iran the consumer business across Europe well. I mean it sounds like this g. e. job was like pretty formative and setting you up to build these banking businesses because like these weren't like front office speaking speaking jobs like you're running businesses for banks it really was and I think the sort of learning a little bit about how to run a business and how to sort of take commercial responsibility for for all the decisions that you have to make in even though at the time you know it was a relatively small business. I think it taught me some of the skills required to think about growth to think about product to think about operations to think about risk united say though that throughout all of those experiences it really brought me very close is to customer and and think he is these are all consumer facing businesses consumer and small business and and it helped me start to develop a deeper level of empathy empathy for problem so we're trying to sell for customers and I think over the course of those years it also helped me start to form the seed of what ultimately became borrow which is how to create a bank that was going to be very differentiated that was going to really try to move the needle. Oh in a in a fairly profound way for consumers and we can talk more about that yeah I mean so you've had this pretty prolific career working for many different banks and starting businesses Mrs Within these banks and have your own startup. Is it similar starting a startup within a bank and going out and just like something from from scratch or what is that like it's totally different so when you're inside of big company and you can pull resources. You've got big budgets. You you can make phone calls and people you know. You're representing a accompanying. So you know vendors lineup to to sort of do business with you. I think at the very early days of you know I guess you know having been around around and had a pretty good so network. It was helpful but it is very different. When you're the guy doing all the work I remember in those early days. You know it's like I I had no staff to draw draw upon so if I had to get something done you really had to rely on yourself and then start to bring people in to help focus on step one step two step three and it's really you know when you're building something from scratch. I mean it you know and I did that a little bit inside as you mentioned you know like when I was at wells when I built that consumer credit credit business. I really did start out as a powerpoint but I had all of Wells Fargo sort of draw upon to get it done and you have to be much more resourceful and much more scrappy when you're starting. I'm from scratch and also only kind of take it in little chunks at a time because if you look too far ahead it's just daunting because you know when you think about. Abu They go back to those early days. which really wasn't that long ago? It was three and a half years ago. We'd be having this conversation at my living room so it's it's come a long way. We now have over two hundred people bowl and the business is growing so rapidly but it is about thinking about. Where do you have to be next week where you have to be two weeks from now. Where do you have to be a month from now. What are those proof proof points that are critical in order to kind of go from from where you are to where you need to get to and and you do sort of take it in bite size chunks right so throughout your career. Aaron in finance and banking. was there a defining moment when like the Varo idea hits you and you're like this is. There's a huge problem here that I'm Gonna I go off. I think there were a few of those I mean so a couple examples that I've used in the past is when I first arrived in the UK the office of fair trading had had regulated default fees which these fees I had the credit card business in other a couple of other businesses at the time and and basically these were like late fees or over limit fees and anyhow it wiped sixty million dollars off the pianowski okay so here's my okay. I'm in my six week new country new job. You know I get get this message from my team saying by the way we're going to miss our plan by sixty million pounds and so fortunately I knew my boss from she'd brought me over and I said okay well. Let's yeah. Let's have a look at how we're going to deal with this. I got the team together and very very resourcefully. You know they came up with a whole series of ideas around how we were going to close this l. gap and but as I started to go through them I realized many of them you know while well intentioned really could be harmful for consumers and that you know things like changing payment hierarchies and increasing cash fees and things that were just if you think about people who are living paycheck to paycheck or living on the edge like they started dating crew all this additional cost could actually really harm their financial health and and so I I looked at that and said wow like that. That's not those that's not good revenue like this is actually not a good thing. I was thinking about more broadly how the system works in in a when when banks and other financial institutions have to close a prophet gap you who who pays the price for that will the consumer and so I went to my boss at the time and said look you know. I think there's some of this that we can do that. I can live with myself as but the reality is is we're going to have we're going to have a shortfall so either. You'RE GONNA cover it to your other business units or you're GonNa send me home and find somebody else who cover it and and fortunately she kept me and and I said look we'll we'll find a way to make this up but we want to do it in the right
"pnl" Discussed on ESPN Chicago 1000 - WMVP
"Bothered by how much of the advertising budget F. PNL uses every time one of these storms blows through here and then all of a sudden there on every damn channel telling you how much they care about your power like does that bother anybody else because I can't believe the over flow of money that F. PNL has anytime there's a storm around here all of a sudden I'm meeting every guy who's ever fix the light bulb in this city is on my television telling me how much he cares about me strike while the iron is hot. it feels like of a marketing ploy we have now who's happier put this on the pole as well who's happier when this stuff happens the electric companies or the weather the weather people terrorists and and by the way eight I'm telling you that what happened in the Bahamas right now and it's awful as you're watching all of this video that is catastrophic that could have been honest man like it's simply it's simply a direction of change in wind that makes the water from this ocean not be up to the second floor of these studios because and it's beautiful outside it is after after everyone scared the holy hell out of us telling us that this storm was nearby and headed our way if that had hit here I know you might think of the Bahamas as you know not having the infrastructure it doesn't have the infrastructure to withstand that I'm telling you Miami doesn't either this area.
"pnl" Discussed on WCBS Newsradio 880
"In New Jersey Tracy PNL is reporting over seventy six hundred without power mostly in Monmouth while PSE and G. is saying they have eighty one hundred customers with no power half in Mercer county it's three oh five it looks like the nine eleven victims compensation fund bill hit a snag wins the in the Senate a proposal was made on the Senate floor to pass the bill unanimously Kentucky Republican rand Paul objected Long Island Republican congressman Peter king is furious this is typical of rand Paul especially when it comes to issues and that he thinks involves New York hole in you tab Republican Michael lazy they're concerned about the ten billion dollar price tag if they were just we responsible they would have voted yet for a tax break for the billionaire nine eleven advocate John feel has led the lobbying effort in Congress he remains confident we are going to get legislation passed with without them Senate Majority Leader Mitch McConnell has promised to vote in feel believe they'll get it the reason sufficient support Peter has told WCBS newsradio one eight eighty Wednesday in lower Manhattan on the five year anniversary of the twenty fourteen police chokehold death of Eric garner on Staten Island hundreds of protesters are blocking center street here right now walking south to lower Manhattan after a rally that was held on Foley square a rally that was highlighted bike one car air gardener's mother calling again for mayor de Blasio to fire and Y. P. D. officer Daniel Pantaleo when that is what this crowd wants these hundreds and hundreds of protesters here most of them young adults.
"pnl" Discussed on The Dentalpreneur Podcast with Dr. Mark Costes
"Teeth and entrepreneurship by by selling burritos. And and diet cokes to construction workers. I learned all that stuff about entrepreneurship, and and marketing and PNL's and all that stuff at it wasn't even in dental practice. So there's lots of resources out there yet. And I think that I think one of that that's so key because the things that you laid out there, and Dr Koss could into hey, sign up for become a client would he gave? You was. He gave you knowledge that you can use every day for either free. And I can I can attest to this dental podcast into new podcast all the podcasts, Dr causes cock about their so much knowledge in those the you couldn't think you can listen. All of them. Bring all Ian. Like there's so much of knowledge in the book. Just like you said those books have so much knowledge in that. You don't have to go out and spend a million dollars to learn how to run your business successful. You can be taken the clinical skills in learning. Those while getting a lot of this information early on in your career even dental school. You know, before you start your career for little to no cost just a wealth of knowledge of people because Pete anyway, you found people that have found success want to give back they wanna share that knowledge in they wanna give it to people in. So either so much knowledge out there in all those who put those in shows because that's a lot of info that people can get those books that you laid out the book via the bulletproof dental practice like that when really really whale. Love the time today industry, Dr Malloy in really really good book so on knowledge there. Hey, Chris, can I can I share my favorite for business books that I recommend? Actually, these are books that are mandatory reading for all Mike. Clients before they start working with me. The first one is the EMA three visited by Michael Gerber? That's about system ising any small business. That's a great one. The next one is four disciplines of execution by Sean Covey, who's the son of the lake rate. Stephen covey. The next one is called extreme ownership by Jaakko, willing and Jaakko Willink was the lead commanding officer, the lead seal in charge of the battle of Ramadi in in Iraq. He's a navy seal. Incredible incredible book about leadership, and then the last one is the ultimate sales machine by the late Chet Holmes and talks about educational selling and and how to structure a really effective marketing campaign. So those are the four books that are mandatory reading for anybody. That's actually going to pay me money to do a coaching with me they have to read those books. I 'cause then we're speaking the same language where on the same level as far as some of these terms that I throw out all the time. Yeah. Love those to read the myth revisited of three revamp extreme ownerships one of my favorites. Baath are tested that as a phenomenal book in. Then he said, we're four. Disciplines of execution. Yeah. By Sean, cubby, ultimate sales machine would definitely hit that he read the the economy leadership by Jaakko just finished it. I just finished a very very good one book. I love that. I'm in love the leadership team training aspect of everything. So I like Jaakko were literally will. Attorney knowledge here what they like to talk about. What is another question the drill bits? What's in the biggest success career? You know, I have to say that the biggest success. My create is not. And I looked to this before it's not financial at all. It was the other side of my of my breakdown when I decided that you know, I just couldn't handle this anymore. The realization that all asset to aspects of my life outside of finances were starting to crumble that my relationships were falling apart that my team didn't think very very highly of me. You know, I wasn't healthy. I wasn't spiritually healthy. I think on the other side of that when I re booted, and I figured out that you know, life is more important than just, you know, zeroes in your Bank account when I figured that out. I had a really nice. Refresh reboot. And at that point..
"pnl" Discussed on RISE Podcast
"Enjoy spending money. I've learned how to save it. And I've made that a habit in my life. But I still get this thrill of going to target and be like, but I know what I can spend right in the budget. It's like I have categories and I'm like, okay. I I'm spending in control, but I still love I literally was just on. I think banana Republic. Com right before we got on and I'm like dying my husband closed because he doesn't like to shop. And I love it. I'm like, so fun. So you could still enjoy life, but be in control of your money at the same time. What I find so interesting about money is I have owned my company for gosh. Over a decade and actually doing copy it's on the new book right now. So this is fresh in my mind, but I talk about the idea of having this limiting beliefs that I'm bad at math and therefore bad at money, and I hate to admit it because this is embarrassing, but for years and years as a business owner amnesty this because so many women who listen to this podcast on your own businesses. For years in that space. I didn't really know the finances of my company at all. Like, my attitude was do we have enough to cover payroll? Do we have enough to pay bills? Great than we're doing good. Our clients paying on time. Awesome. I couldn't ever truly scale, and I couldn't ever cut expenses because I was too afraid to dig in to what the financials were. And I was too afraid to do it because I didn't understand it. And I think a lot of women are in that place, either with personal finances or business finances. They know that they don't know. And so they're too afraid to even try and the crazy thing is what would actually give you more confidence is just to admit that you don't know and to dig into the how how do I learn this what book can read what podcasts can I listen to. But you're so caught up in the fear of what's going to happen for not knowing that you don't just like live into that spe army. It was like if I admit that I don't understand a balance she that. I don't know the difference between a balance sheet in a PL than I shouldn't be allowed to run this company. So I had a lot of shame around that you mind that people out of shame around personal finances as well. Oh, absolutely. Because not only is it an intimidating part of your life. Just what you're explaining right? I mean, the business side there's taxes and PNL's bright all of that. Which is intimidating but on the personal finance side. There's elements of that that people don't even wanna get near because they don't understand. They don't ask questions because they don't wanna look dumb. And what's so interesting about personal finance, which is very common, even with your business finances. But it is so much about your behavior. And it's really not a lot about head knowledge because the to really succeed in your personal finances. You don't need to know ton. But you really don't like all of us know, if we don't have the money, we probably shouldn't buy it. Like, we probably should be saving. Right. Like these are. Basic common principles that are so easy to understand. But it is so hard to do. And so what happens is we stick in this in we keep doing the same mistakes over and over again because we don't want to change because the change is uncomfortable and to say, okay, I'm gonna make a change. And I'm going to try to live on a budget because the budget really when you look at it. It's it's fifth grade math. I mean, it's income minus expenses equals zero. And so that the math of it is not that difficult, but doing it and actually putting it on paper and seeing it. That's the scary part of the behavior that is so hard to change. But once you change it, and you get over that uncomfortable feeling it's amazing the progress, and how quickly you will see progress because you actually decided to care, and I think a lot of people that are in denial when it comes to their money. A lot of my encouragement is is usually your situation's, probably probably not as bad as you think. It is the unknown is what is scary. It's all these numbers in your head. Sphere of not wanting to open.
"pnl" Discussed on AM 1590 WCGO
"The options. For six months. Trade in January. I I had basically said I'm going back to school either. Lifestyle. We have the option to create revenue streets, which started material in early two thousand. Now what interests me on? This is my guess would have been reading from the outside looking at your personal financial situation that you coming from conventional finances financing world, you know, the bankers and financial plans, and all these guys I would have found it hard for you to sound is positive as you sound about the two choices you make. I I hear almost no skepticism in the now what of your decision to go out there and do something. Whereas I would've thought banker skepticism, right? This isn't the traditional way to retire. So how did you come to that conclusion as a banker did not have the skepticism on the two things really which are the two things that by most banks most of the time. I you. Nobody. Normal skepticism in a banker. I'm a conservative. So I work in a regulated industry for that girding desire, even in banking. I was in Toronto I had PNL's, and I always try. PNL's and always thought. Pinpoint when I came back to Houston, and I had resources to make a light inch. I elected to really look hard and say, okay leverage up. And I love you. In my personal life leverage up.
"pnl" Discussed on The Ken Coleman Show
"Local stores. You maybe you're working for a national food chain restaurant. A high end restaurant, you know, maybe you're working in catering high in catering business, you have to start to identify all the different ways that you can lead. People in the food sector. That's your homework assignment. That's what I want you to do start to list out all the different places because you know, your role, you know, what the role is you have to spend any time on that. You're an leader leadership that could take several different paths. But ultimately, you're in a leadership role in the food sector, and you want to grow a business. So it has to be can't be just leadership. It's gotta be leading people and leading a business. Like, you're you're interested in PNL's, and and cutting costs and efficiencies. You wanna have your hands in the business practice you love that? So man, that's that's pretty easy to find. Identify him started denting. How do I get there? If I weren't for this company. I wanna get to this point. What's the best path to get me there? That's all you've got to do. And you're already on that path really excited about you sharp young, man. That's what it's all about. Right there. Folks, I've been talking about this forever. The job market is unbelievable right now more jobs available in the United States than there are people who are unemployed recent data over six million jobs available. You listen to the show because you want to do the work that you love, you're listening. You know, what you do best? You know, what you love to do most? Now, you just need to put it together. In a smart way, the smartest way to get yourself out. There is with my friends at ZipRecruiter. Their technology is second to none why because of the matching part of their technology. You put in what you want to do what you're good at. They take your information. And they're like your personal recruiter twice as ZipRecruiter. It's fast and efficient. They put you in front of the people who are going to be hiring. You that's why it is so efficient. So here's the deal if you are an employer, and you're looking for somebody who can change the game for you. You can try ZipRecruiter. For a limited time for free. All you gotta do is go to ZipRecruiter dot com slash kin. It.
"pnl" Discussed on What's Next! with Tiffani Bova
"Offering your services and proximate community in Sar getting traction there. That's that's how you go about it. And that's how you prove is out there. Now, one last thing is you can do some statistical analysis to especially in in selling to industry, so beat the b is the easiest dentist our community 'cause I can say I sell to accounts, which were my company's does it's very easy to go. And see how many accounting conferences there are and to go to some bliss service dentist how big their list is it's a very easy way to measure market. But when you sell to a. Demographic. That's you know, man or woman or something there's there's no like single moms who coffee conference, and there's no psychopathic psychographic type conferences either. So it's a little harder to assemble that knowledge, but you can always Pierce a community. You can always find bird of feathers flocking and appear there. And I think there's a lot of really great advice there, you know, around sort of focusing on the right set of customers, potentially ignore is too. Strong of a word to put that in sort of air quotes, rapid ignore those that aren't going to get moved the needle for you that you don't get caught in that trap of trying to fix a set of customers that are never going to really give you more revenue and let me let me use that as a pivot point to say, they're really not gonna drive your profitability, which then sort of your next book was was profit. I which which I found interesting. So I'm not an accountant, an N L's are not my friend. So a always higher really smart people to be around me when I was managing my PNL's. But, but why don't you step the listeners through sort of how you landed at profit first and how you really tried to flip it on its head. So I I do the same thing. I don't look PNL's or cash statements. I don't even know how to re one, quite frankly or balance sheet. So I do say my hire smart people. But there was this one dummy who kept serving themselves and messing up and that was me. I would. I would nor any attempt to read those documents or what my KPI's were by key performs in caters, always things in the budgets. I would revert to call Bank balance, accounting, see if I had money or not. And if I did I'd spend if I didn't I would enter panic mode. And why found is I thought I was the only guy do this. But I think it's actually relatively typical that many entrepreneurs particularly of smaller sized businesses sub ten million are actually looking their Bank bounces terminent action. They should take. So decided was away realize I should say is it's very difficult for myself to change my own behavior. And I believe that's true for most of us. Even though our behavior may not be productive to change is very difficult. So I think the best solution is to CEPA some that allows us to continue behavior but channel two positive outcome. So the fact I I did this Bank balance accounting process. I devise a system for myself where I could continue log my Bank accounts. But now, no pro. Actively what money was intended for what purpose before spent a penny. And what how did this was by saying multiple accounts by also realize this McCain Mattel, the book is that cash management for most entrepreneurs behavioral based system, we may say were logical, but we're not we're very emotionally driven and the behavior. We have is that when something is true, not just with money anything life. When something is comes last. It means insignificant. Like if I said in my health. My health comes last when I'm saying is my health doesn't matter. But if it's important to me, I'll say my health comes first so human nature between comes first the priority. It gets focused on and when something comes last, it's the perpetual manana syndrome, the great irony of what we've been told about profit until recently that product last actually vernacular is profits the bottom line last..
"pnl" Discussed on Acquired
"Nothing could be more boring and I can't stand the ones they have in the newspaper, right? This is how we put together. I'm like, I wanna hear you. I wanna hear Michael. Barbaro do his, but he goes beyond the story. Right? So. It just works and the and the team there is so talented, that team of people who put that not just about there's a whole pack of people there that are just so good and tell a story and a great way. So I think that's our category consolidation categories each. All All right. right. In a way I was going to go business business lines. So the way we do things for people knew this show we decide what category the acquisition was was at people technology product business line asset or consolidation. And I mean, I was gonna go business line because for me, it's really like picking up a whole new PNL and running that PNL independently and hoping it expands, and you know, realizing synergies and saying that every episode now is pissing me off is a good, but you know, with with Walt going across and writing at at the verge, but as effectively, it's still its own business unit that you're buying for. Hopefully this feature cashflows. Yeah. Yeah, but it's other things. There's more things to it. Advertiser interest started his show right around the same time. You did. Right. You know, he came to me when he was starting at we had done ours. No, he did after quite. So there you go came and he said, right, should I do? And he wanted to interview like the deputy secretary of agriculture. I'm like, can you do some interesting people to Corey Booker? Yeah, like, yeah, bringing by bike kept saying Biden would be. Good, and he's like, well, I'm like, you Biton. He'd be like, people would love to hear from Biden and he's a very good interviewer and he's he say, more wonky. He's definitely more won't..
"pnl" Discussed on Suiting Up with Paul Rabil
"And to me, that's where the value lies, and that's where I want to own it. It's amazing. We talk about that makes it makes a ton of sense. Actually. So I would then take that and suggests that if if complex were to ever by sports rights that you would be sacrificing your authentic voice to the lifestyle component you wouldn't wanna put it sounds like it's bifurcated. Right. One thing you could say the storytellers at a behemoth NBC. Just saying true to who you are exactly is. I'm not saying that complex people don't care about sports. They do. They about sports all, especially bass NBA and about like no, in soccer care about them a lot. They don't wanna hear us analyze a game. That's not what they come too complex for. Right. And this is why I laugh. There's some sports brands out there that are going to remain nameless that are trying to enter into these other areas. I'm like, you know what? Stick the goddamn stats. All right. Have some fun with that and that world important for the people who want to hear the rats, but the original programming, the narrative of the athlete. We talked about this with across obviously a sport that hasn't reached mainstream at the level of the NBA. The NFL be LS, but no matter the sport. And your point around the last second shot, the underdog story, the product that you see on field on court in pool when you see that highlight moment. It's pretty awesome as long as it's broadcasted well, but what makes it better is, do you know those people that converted on that moment? And that requires a story. That's right. And it requires often, third party platform is as much as as I blabber and talk through my social channels. Nothing is more effective than if complex covers me your give yourself credit. But at the end of the day, here's the funny thing is we make decisions are business decisions not based on the PNL. We consider the PNL afterwards. We make business decisions based on what who we are as a brand and the conversation we wanna have with the consumer base in how realistic conversation is the other things that you're talking about. A lot of those business, those businesses or brands that are making, you know, sports rights are doing it because of a busy. They're trying to reverse engineer a business result. They are not thinking about the end consumer. They are not thinking about what that brand means. The not thinking about what positioning that that does four. Them exactly in. And it's, I'm sorry if you start to chase then once you start to chase, you're gonna chase forever and it's over for you. It's over. We we say, with new technology and new media, especially with millennials in jen's. They have x Ray vision on character on brand authenticity. And if you start chasing, they're gonna. They're gonna smell it and it's over and it's over. And then you don't mean anything? Yeah. And you don't mean anything? You're a commodity and it's just that's not the game. I wanna play wild. It's just that simple. Yeah. So complex all over social richer on Twitter. We've talked about this a lot, and and you've shared with me that your thought process as a leader, your vision often comes out on Twitter? I before you even talk to executives internally and and yeah, probably not do that, but it's motivational encouraging. It's also challenging in. Some cases. So before we sat down and we're kicking around the idea of going through some of your latest Twitter activity as a way to to spawn some some of what you think about daily. So I highly had a bunch and and we'll use this as jumping off points. But this is one I love in quotes going for big time, but they're serious downsides to this grand slam or strikeout business culture. Society we have created. So for me that that's telling you know that there's layers to this, like those levels that comment that, you know, number one, I actually really, unfortunately. I try and be very positive for the most part. I think there's a lot of people who are just acting like entrepreneurs or don't understand everything that goes into it, and there's a lot of people who are trying to do it. I Meyer their hustle, but they might not have all of the traits to make it work. And I think there's too many people that have fallen in love with the allure of it versus the reality of have they challenge themselves to truly do..
"pnl" Discussed on WMAL 630AM
"Thousand nine What interests me on this Jim Is that my guess would have been reading from the outside looking into your personal financial situation, that you coming, from conventional, finances the financing world you, know the bankers, and financial planners all these guys I would have found it hard for you to sound as positive as you sound. About, the two choices you make I I hear almost no skepticism in the tonality of your decision to go out there and do something, where, I? Would have thought banker skepticism right this isn't. The traditional way to to retire so how? Did you come to that conclusion that as a banker did not have the skepticism on the two things really which are the two things that fight. Most bankers most of the time I think Is it there's nobody normal skepticism in. A banker I'm a conservative so I work in a regulated industry. But always had within me an entrepreneur Burning desire even banking intra. Entrepreneur PNL's and, I always try to meet or exceed my PNL's finale from a profit standpoint When I, came, back to Houston and I had the resources to make a life change I elected to, really look hard and say okay leverage up a banking term that. I love the? Use in, my personal life leverage up kick your talent and then have enough, competent to make the transition was.
"pnl" Discussed on The Ken Coleman Show
"Lead people in the food sector that's your homework assignment that's what i want you to do start to list out all the different places because you know your role you know what the role is to spend any time on that you're urine leading leadership that could take several different paths but ultimately you're in a leadership role in the food sector and you want to grow a business so it has to be can be just leadership it's gotta be leading people and leading a business like you're you're interested in pnl's and cutting costs and efficiencies you wanna have your hand in the business practice you love that so man that's that's pretty easy to find identify him started dente fine how do i get there if i want this company i wanna get to this point what's the best path to get me there that's all you've got to do and you're already on that path really excited about you sharp young man that's what it's all about right there eight four four seven four seven two five seven seven the phone lines are going crazy i love this people wanna get on and let me just say this if you don't get on a given day keep calling email asking ken coleman show dot com madison my socio producer should get you scheduled on we're on every day so i want you to stay incurs because folks this is important stuff lot of momentum happening every day in your incursion by calling in and sharing your store your encouraging other so with that little note stay patient and keep trying to get through we're gonna go next to rob who's in los angeles california rob you're on the ken coleman show.
"pnl" Discussed on Mixergy
"Ethics on but i didn't have a business model and i figured man i'm gonna get out there to the old silicon valley and i'm gonna make this thing something large there's two ways to move out silicon valley in your twenties andrew wants to out broke and then give away a lot of your company on the back of a napkin to a rich guy that's option number one option number two is go get a million dollars for yourself and start your own goddamn company out with your own goddamn equity under giveaway none of it off the bat till you feel like it and that's i decided to do okay now attendance tonight said l was the sacrificial lamb it was everything i needed recurring revenue location independent and relatively easy to sell now it was harder than i thought but compared to other kinds of businesses particularly services stuff it was not into anything you teaching people online how to how to do jitsu right you're filming yourself you're selling this you are getting smarter automation and that's why you wanted to sell and when you went to sell you said that there was a problem what's the problem yeah we'll go right into it so when i signed to steal literally right when i was talking with you we had done a big launch we had gotten to about forty five thousand dollars per month and recurring revenue i actually remember sending you are pnl's hit you have because i'm citing asshole that has even someone who's nice to me i still don't believe them and i need proof i i love it man i mean if you wanna publish like while at actually don't know the legal concerns i had a while it sounds it would talk about when he signed to skill right so that you like you know that that's legit but then a motor out with with with the buyers like sued me for that i don't know either way.
"pnl" Discussed on WDRC
"Okay i am talking with chris in virginia he's got two hundred and fifty thousand dollars out a line of credit and rapid advance and family on moving business the seasonal and doesn't know if he's making a profit hasn't seen a pnl top line of lower million dollars he thinks and wondering if he's in chapter eleven you with me so far chris okay first thing you've got to do and you're going to do this chapter eleven anyway you're going to build a pnl need to build a profit and loss statement and you can start primitive and and get a little bit more sophisticated with a million dollar business doesn't have to have a ton of sophistication but basically your income monitor outgo equals your profits you know that right right right and the first step is do it on yellow pads the second step sit sit down with an accountant then begin to lay that out have you not been paying your taxes if you've been paying your taxes how did you do that without a pl well we have we have an accounting team it's not in house or anything developed your tax returns which shows your prophet right and i've been talking to them they said we don't understand you should be profitable to be profitable and you know we looked at the cotton forty nine percent you know or excuse me production wages at thirty nine percent i made that suggestion that we cut that down to twenty nine we'll be of course but if you have to and you've got four hundred thousand dollars or four hundred fifty thousand dollars and.
"pnl" Discussed on TalkRadio 1370AM
"Okay i am talking with chris in virginia's got two hundred and fifty thousand dollars out a line of credit and rapid advance and family on moving business the seasonal and doesn't know if he's making a profit hasn't seen a pnl top line of over a million dollars he thinks and wondering if he's in chapter eleven you with me so far chris okay the first thing you've got to do and you have to do this without chapter eleven and did you're going to build a pnl need to build a profit and loss statement and you can start primitive and and get a little bit more sophisticated with a million dollar business doesn't have to have a ton of sophistication but basically your income monitor go equals your profit you know that right right right and the first step is doing on yellow pads the second step sit sit down with an accountant then begin to lay that out have you not been paying your taxes well we have we have an accounting team not in house or anything developed your tax returns which shows your prophet and i've been talking to them they said we don't understand you should be profitably should be profitable and you know we looked at the coffee nine percent you know or excuse me production wages that thirty nine percent and they made the suggestion that we cut that down to twenty nine would be read if you have a million to and you've got four hundred thousand dollars or four hundred fifty thousand dollars in production expenses meaning your labor costs that seems even low it's probably above that then what other expenses you've got you've got insurance and you've got your you talked about your worker's comp is high that would be normal in your business and then you've got truck operations and rental truck operations and and insurance do you own a building or you've got a.
"pnl" Discussed on The EntreLeadership Podcast
"All as you begin to talk about you to individually begin to realize you know what jim i'm best at this saving i'm best of this and we're gonna play those roles because now things are beginning to explode yeah it's a great question i say it's not good at much trouble that made it easy i get out yeah i think it's probably pretty common for most people to want to do everything in our instance you gotta keep in mind we didn't go to business school i went to school for rama a jim we went to school for concussions we didn't we didn't we didn't go to school thinking we were gonna open small businesses things like you mentioned like staffing or how to manage staff or payroll or insurance or pnl's financials and scaling these are words that i'd never personally ever really understood or heard of in some instances i've it speak for jimmy as well we had never done that the only reason we started doing financials was because steve's dad was like hey guys unity get a handle on this so when it came to staffing when it came to just doing the basics we jumped in we didn't we made mistakes we learned every aspect of our business we micromanaged we over thought we didn't sleep at some point what you mentioned decided that hey we need to divide and conquer because what we were doing wasn't affective use of our time we were both doing everything which wasn't a good user time but for a while you don't know anything so you have to be the expert of your own business and that required us to not sleep in learn every aspect i was out here for the grand opening still living in boston work my job in this always resonates my mind is at sabin added type of guys were friendly were sociable outgoing but when we started truck we wanted people in line to be talking to us learning about where it comes from a main where we're from educated on the product noone everything.
"pnl" Discussed on WFLA News Radio
"I need that too i do the same thing i had a fulltime inhouse accountant she's fantastic but i also i do one more thing also my stepmom is a cpa and she actually i have her audit my books on a quarterly basis where she goes through and checks all reckon account reconciliation to make sure there's nothing funny going on that way at the end of the year you know you you don't get this huge huge surprise call the tax bill and we'll tell you is if if if my in house accountant didn't know that i audited i audit every count so they know that there's no there's no getting they're not pulling anything over my eyes you're getting checked on so answer the question is listener is that you want to have somebody inside do it but also for the big purposes have somebody outside do it my thing is it depends on what it is if i have to provide some to one of my lenders and it requires you know pnl's and balance sheets a lotta times i asked my corporate cpa to put something together for me that person doesn't work in my office the other thing we'd be careful with whoever's running your books in your office remember they're going to have access to data about all your employees you gotta make sure it's somebody who you know his either wellpaid or well ryan said i think it's a little bit for me i think it's a conflict of interest when you have the person inside doing the books and then you're gonna have to your taxes guy just yeah i would never do that be separated somebody balances plus is not a conflict of interest that's that is the one job you know whoever this is that that that asked this question that's probably one of the most important hires you'll ever make.