Episodes

We’re headed into uncertain economic times. Between inflation, and the continuing war in Ukraine to another election where all these folks seem to do is yell at each other from the top of their lungs. And while your industry may be mostly immune to rough economic times, and even grew during the pandemic in a lot of ways, it still creates complications in running your business. One of these best strategies includes following general guidelines on how others have handled their own turnarounds --...

No matter what business you're in, pricing is always a key consideration. But when it comes to an inflationary economy, pricing can be especially tricky. There are countless factors to consider, from regulatory compliance to supply and demand. In this week's episode Chip outlines some of the most important considerations when setting prices for products and services. You'll learn how to price your product or service so that you can win in a competitive market and industry! We all know that...

One issue that seems to be coming up a lot lately for business owners is cash flow, and for good reason. If your business runs out of cash, and cannot borrow from somebody or get more investment capital, then it’s probably about to fail. For your business to be as healthy and prosperous as possible, you need to keep an eye on profit, but also on cash flow. So this week, Chip hones in on cash flow and reveals the four reasons why cash flow is so important. And even if profit is looking heal...

You probably already know that a customer or employee dependency can undermine the value of your business, but have you ever stopped to think how one of your suppliers could also lead to a valuation drop if you ever want to sell your business? In our study of over 55,000 business and thousands of actual transactions, we know that acquirers want to invest in businesses that inoculate themselves against danger. And, being dependent on a supplier can be a risk. So in this week's episode, Chip...

While taking time off from work is often much-needed to get away from a hectic work life, research also shows that it is important for your health. Whether you have three days, one week or two weeks of glorious vacation time, doctors say that if you don’t take advantage of this break from work, your stress and mental health will suffer. But for today's entrepreneur, it can be tricky. Between when and how you should take time away to your employees knowing your company’s philosophy on taking v...

The growth of your business is essential. However, to grow any enterprise you must continually seek ways to turbocharge its engine and your business is no different. Essentially, you need to develop strategies that will drive sales to ever-higher levels while ensuring that your growth in revenues translates into higher cash flow and rising profits. So in this week's episode Chip talks about the four things you can do to turbocharge your business. The tips work for any business and in any i...

There are a lot of reasons business fail. Some of them are due to poor management, not being in a definable niche or just plain dumb luck. And, while these circumstances are frustrating, a lot of times they’re unavoidable. At the same time, there are common themes we see from failed businesses that come up time and time again and really don't have much to do with management style or with luck. The good news is once these issues are identified, they’re straight-forward to address. And doing...

If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel? As anyone knows who's tried to fly United when O’Hare Airport has been hit by a snowstorm, a hub-and-spoke model is only as strong as the hub. The moment the hub is overwhelmed, the entire system fails. Acquirers generally avoid...

Think for a moment about what does the word valuable mean for you and your business? Maybe it’s a business you can pass along to your kids or other family members? Maybe it’s one that you can use as a platform to acquire other businesses in different markets or geographies, or as a means to vertically integrate. Often when we talk about a valuable business we’re talking about one that’s a million dollar business. In this week's episode, Chip talks about what’s so special about owning...

Success. Wealth. Achieving our goals. The most successful among us do certain things and act certain ways that helps them be successful. If you’re an investor, or aspiring owner, or an industry insider you’ll likely get value out of this week's discussion. But in this week's episode, Chip speaks to the CEO about the three things successful business owners do differently. Follow The Entrepreneur's Accountant on Instagram for bonus content and tips to grow your business, and join our community ...

If you want to run your business rather than having it run you, you should look at the ratios we call key performance indicators or KPIs. Just like baseball’s leadoff batters who measure their “on-base percentage” or doctors who measure their progress in curing diseases by improving the infant mortality rate, you can harness the power of these KPIs in your business. And, the more valuable and profitable your operation becomes. So in this week's episode, Chip talks about the seven KPIs you sho...