Chris Hervochon | Understanding Your Cash Flow Statement

Garrett Sutton | Asset Protection Secrets for Business Owners

As an entrepreneur, you’re focused on making money and growing your business. But, says attorney and best-selling author Garrett Sutton, you can’t forget to protect your money at the same time. 

He shares asset protection strategies in plain English – no legalese – that you can use to make you don’t lose unnecessarily profits you should be taking home… or even your personal assets.

It all starts at the beginning, when you first structure your business. Garrett talks about the pros and cons of sole proprietorships, LLCs, and corporations. And that’s just the start of our conversation. 

We also cover…

• The biggest legal mistakes startup business owners make – and how to avoid them
   
• Ways to avoid personal liability and seizure of personal assets like bank accounts and home equity
   
• How business owners often unknowingly sabotage their asset protection strategies
   
• The business structure that gives you the best asset protection – and tax benefits

• And more

Chris Hervochon | Understanding Your Cash Flow Statement

On this week’s episode of P is for Profit, we speak with Chris Hervochon, a CPA and the owner of Better Way CPA, which provides outsourced accounting and tax preparation services. This episode is all about cash flow and how to improve the cash that your business generates.

“At the end of the day, your business has to generate cash because you can't pay for your mortgage in anything but cash. You can't pay for the grocery bill in anything but cash. You can't pay your employees in anything but cash. It's got to turn into cash, and understanding specific components of your cash flow statement and where you need to be focused is super important. You need to understand it, forecast it, and model it. That's really the jumping-off point that I see a lot of small business owners struggle with,” says Chris.

We chat about common struggles faced by business owners when it comes to their cash flow, as well as:

• Understanding your cash flow statement

• What level of debt is healthy for your business

• The importance of cash reserves

• Bookkeeping best-practices

• His book, Scaling the Data Driven Marketing Agency

• And more

John Corcoran | Secrets of Podcast Marketing

John Corcoran is a lawyer turned podcaster and podcast guru who found that his broadcasts served as a great source for clients, referrals, strategic partnerships, and other benefits in his career and life.

Now, with his agency Rise 25, John teaches B2B businesses how to use a podcast as a marketing tool that brings in more clients, referral partners, and strategic partners.

John talks not only about the technical details but also shares some surprising insights for making this medium work at bringing in more, better-quality leads. We get into detail on that, including…

• Who to invite as a guest – and how to get them on your show

• The psychology behind podcast-related referrals

• The easy way to start your podcast

• Why the size of your audience doesn’t matter

• And more

John Murphy | The 3-Step Approach To Evaluating Team Performance

In this week’s episode of P is for Profit, we chat with leadership expert and executive coach, John Murphy. John’s focus as a coach is to help improve the performance of teams— thus improving the ROI of one of the largest expenses that many businesses have… which is payroll.

“If teams aren’t working the right way, it doesn’t matter how good your strategy is,” says John about the importance of evaluating team performance. 

We’ll talk about how to get the most from your team, as well as…

• The steps you need to take in order to work together more effectively

• The 3-step approach to evaluating team performance

• How to apply John’s strategies to your own team

• Where most teams are lacking (and how to fix it)

• And more

Darwin Liu | Revenue-Centric Marketing

Many digital marketing agencies are “stuck” in specific channels they provide for clients, says Darwin Liu, founder of X Agency. On top of that, they only look at results from that channel. 

Darwin and his team take a different approach. They measure success by looking at revenue. And they’re what he calls “channel agnostic,” which means they use whatever marketing channels are right for the business. Plus, they strive to get results for as little cost as possible. 

In one case, they were able to boost a client’s revenue from $47 million to $90 million in a year, yet only increased marketing spending by 20%.

We take a close look at how they were able to do it and also discuss…

• The 20-point checklist for a highly converting website

• Why the best marketing in the world won’t bring more revenue if you don’t have this
   
• How to take an industry-specific approach to your marketing campaigns

• What’s on the horizon in digital marketing for the rest of 2020 and beyond

• And more