Profit Answer Man: Implementing the Profit First System!

Rocky Lalvani
  • 5.0 (3)
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Profit Answer Man: Implementing the Profit First System!

Hi, I'm the Profit Answer Man! The Profit Answer Man podcast is a weekly show hosted by Rocky Lalvani, a business coach and Certified Profit First Professional. In each episode, Rocky shares his expertise on how to increase profitability and cash flow for small businesses. Episode 1 is the why, 2 - is Mike Michalowicz, and 3-13 are Rocky's take on each chapter in the book. The Profit Answer Man podcast is designed for small business owners, entrepreneurs, and anyone else looking to improve their financial management skills. Rocky covers a wide range of topics, including how to prioritize profit, manage cash flow, and grow your business. One of the things that sets the Profit Answer Man podcast apart is Rocky's engaging and entertaining style. He uses anecdotes, humor, and relatable examples to make the concepts he's discussing easy to understand and apply. If you're a small business owner looking for practical advice on how to improve your financial management and increase profitability, the Profit Answer Man podcast is definitely worth a listen. Whether you're just starting out or have been in business for a while, you'll find plenty of valuable insights and tips that can help you take your business to the next level. Sign up to be notified when the next cohort of the Profit First Experience Course is available! http://bit.do/profitblueprint More about making profitability simple: http://profitcomesfirst.com/ Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

  1. The 7 Questions You Need to Answer with Richard Bond

    5 DAYS AGO

    The 7 Questions You Need to Answer with Richard Bond

    The 7 Financial Questions You Need to Answer with Richard Bond   Welcome to another insightful episode of The Profit Answer Man! Today, we are joined by Richard Bond, founder of Bond & Company, a boutique financial recruiting firm specializing in treasury finance and pricing. With over 35 years of experience, Richard has worked with major corporations and small businesses alike, offering invaluable insights into the challenges and strategies around recruiting the right financial talent. In this episode, Richard shares his unique perspective on how finance professionals can have a transformative impact on businesses, especially small to mid-sized companies that are often under-resourced in their finance departments. In this episode, you will learn: The Importance of Hiring the Right Finance Person: Richard explains why having the right financial professional can make or break a business. He also discusses how to identify whether your business needs to upgrade its finance team. Overcoming the Fear of Finance: Many business owners shy away from diving into their financials, but Richard offers simple strategies to help them conquer this fear and gain more control over their financial outcomes. 7 Key Questions to Ask Yourself: Learn about the seven critical questions Richard developed to help business owners assess their financial health quickly and effectively. Answering these will give you immediate insights into whether your business needs a stronger financial foundation. Key Takeaways: Small Companies, Big Impact: Richard emphasizes that small businesses can see dramatic improvements by hiring the right financial professionals, who can help streamline operations, reduce costs, and increase profitability. Fear of Firing the Controller: Many business owners are hesitant to make changes in their finance department out of fear, but Richard reassures that with proper guidance, these transitions can be smooth and lead to better financial stability. Finance as a Business Driver: Rather than seeing finance as just a back-office function, Richard advocates for making it a core part of strategic decision-making in your business. Bio: Richard Bond founded Bond & Company in 1986, and over the last 35 years, the firm has specialized in recruiting for treasury finance and pricing roles. Initially working with large entities like PepsiCo and PwC, Bond has recently focused on smaller companies, providing them with the financial expertise they need to grow. He holds an undergraduate degree from Lehigh University and an MBA from Wharton. Before transitioning into recruiting, he successfully doubled sales and profits in his family business. Richard currently resides in Pennsylvania and volunteers with The Acceleration Project, assisting small businesses with their financial strategies​​. Conclusion: If you're a business owner looking to take control of your finances, this episode offers valuable insights into the power of having the right financial talent on your team. Richard Bond's experience and practical advice provide actionable steps that can help you hire smarter, strengthen your financial position, and ultimately, improve your business's bottom line. Tune in, take notes, and see how these tips can transform your approach to financial management.   Links: https://bondandcompany.com/ https://www.linkedin.com/in/richardrbond/     Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer M

    34 min
  2. How to Build a SmoothScaling™ Business So You Can Maximize Life Profit™ with Brad Martineau

    OCT 15

    How to Build a SmoothScaling™ Business So You Can Maximize Life Profit™ with Brad Martineau

    How to Build a SmoothScaling™ Business So You Can Maximize Life Profit™ with Brad Martineau   In today's episode of The Profit Answer Man, we’re joined by Brad Martineau, the CEO of SixthDivision and Co-Founder of PlusThis, who shares his incredible journey and insights into how entrepreneurs can successfully scale their businesses without sacrificing their lives in the process. With over 70,000 hours spent in the trenches working with businesses at every stage, Brad has refined a step-by-step process for achieving smooth, sustainable growth. Whether you're a six-figure entrepreneur looking to scale up or a business owner wanting to streamline your operations, this episode will provide actionable advice to help you build a business that supports your lifestyle, not consumes it. In this episode, you will learn: Smooth Scaling Strategies: Brad discusses his experience in helping entrepreneurs build businesses that scale smoothly. He shares techniques for getting the results you want from your business without overwhelming yourself with the complexities of technology and growth. The Key to Automation Success: Brad explains how business automation can become a daunting task for many entrepreneurs and provides a clear process for simplifying and organizing automation efforts, so they work for you—not against you. Navigating the Scaling Dip: We talk about the challenging "dip" that many businesses face when growing from mid-six figures to early seven figures. Brad shares how to manage this phase effectively and avoid the common pitfall of massive profit dips. Creating a Life-Changing Business: Brad emphasizes his passion for helping businesses that are on the verge of breaking through into higher revenue but still struggle with growth pains. He talks about his sweet spot—entrepreneurs striving to move from six to seven figures—and the changes that lead to life-changing results. Key Takeaways: Prepare for the Growth Dip: Every business faces a dip in profitability when scaling. However, this doesn’t need to be a deep trough. With proper planning and awareness, you can minimize this phase. Don’t Over-Build Before You’re Ready: Many entrepreneurs mistakenly build infrastructure and hire too quickly, leading to an unnecessary dip. Brad’s advice? Build just-in-time rather than too far ahead of the curve. Tech That Works for You: Automation is powerful, but only if it's done correctly. Brad shares how to corral your tech tools to keep them from adding complexity and frustration to your business. About Brad Martineau: Brad Martineau is the CEO of SixthDivision and Co-Founder of PlusThis. He has spent over a decade helping entrepreneurs navigate the complexities of business automation. With a personal mission to help business owners create smoother paths to success, Brad and his team have worked with big names like Daymond John’s Shark Group, DigitalMarketer, Dave Ramsey’s EntreLeadership group, and many more. Brad is also a co-founder of several SaaS businesses, including TagGenie and Slottable, and continues to develop tools that help entrepreneurs streamline their operations and reach new levels of success. Outside of business, Brad is a basketball enthusiast, a lover of flat-brimmed hats, and a family man with five kids and a grandchild on the way. He’s dedicated to helping entrepreneurs find balance—achieving business success without sacrificing their personal lives. Connect with Brad Martineau: Website: https://smoothscaling.co     Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Em

    48 min
  3. Breakout Valuation with Patrick Donohue

    OCT 8

    Breakout Valuation with Patrick Donohue

    Breakout Valuation with Patrick Donohue   In this episode, we dive into the remarkable journey of Patrick E. Donohue, an entrepreneur and valuation expert, embarked on his financial journey with a lemonade stand at age four and invested in Coca-Cola shares by age ten. Equipped with a Chartered Financial Analyst (CFA) designation, Patrick has emerged as a reliable investor, adept stock analyst, and valuable advisor to various entrepreneurial endeavors. As the visionary founder of Hill Capital Corporation, a private investment fund supporting emerging growth companies, he brings a wealth of unique insights into the intricacies of finance and business dynamics. Patrick’s dedication extends to serving on the boards of the Entrepreneurs’ Organization of Minnesota and the CFA Society of Minnesota, and he’s the driving force behind the creation of 1 Million Cups Eden Prairie. Connect with Patrick at BreakoutValuation.com to tap into his wealth of experience and expertise.   In this episode, you will learn the following: Significance of maintaining cash reserves for business stability. Concept of the cash balance trifecta (current cash, accounts receivable, accounts payable). Common misconceptions about business growth and revenue. Economic challenges affecting small businesses and cash flow. Value of a cash cushion as a strategic asset. Importance of pricing strategies and identifying profit pools. Role of external advisors in enhancing financial decision-making and vision clarity.   Links: http://HillCapitalCorp.com http://BreakoutValuation.com https://www.linkedin.com/company/hill-capital/ https://www.linkedin.com/in/patrickedonohue/ X: @HillCapitalMN Facebook: https://www.facebook.com/hillcapitalcorp YouTube: https://www.youtube.com/channel/UC1i0YR0FviOENu8b9ISDoUQ   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    39 min
  4. The Profit-First Approach to Business Scaling with Gary Wilbers

    OCT 1

    The Profit-First Approach to Business Scaling with Gary Wilbers

    The Profit-First Approach to Business Scaling with Gary Wilbers   In this episode, we sit down with Gary Wilbers, the founder of The Ascend Mastermind and a seasoned entrepreneur with over 30 years of experience. Gary’s passion lies in helping small business owners find success, balance, and significance through his peer advisory groups. He’s been featured in over 200 podcasts, authored best-selling books, and hosts The Small Business Answer Man podcast.  Beyond his professional achievements, Gary is deeply involved in his community, dedicating his time and resources to Special Olympics Missouri. He served as Past Chairman of the Board and led the capital campaign for a $16.5 million facility for Missouri athletes. One of his favorite pastimes is playing unified golf with Special Olympics athlete Keith Lueckenhoff. Gary and his wife Dana are proud parents to Chris, Adam, and Elle.   In this episode, you will learn the following: Understanding finances and maintaining cash flow to prevent business failures. Adapt recruitment strategies to attract and keep Generation Z by promoting a positive culture and offering growth opportunities. Continuous communication of the company's vision and purpose to engage employees and reduce turnover. Aligning business goals with personal life objectives to ensure fulfillment and prevent burnout. Implement structured hiring with behavioral interviews and clear job descriptions to avoid emotional and ineffective decisions.   Links: Podcast Website: https://goascend.biz/podcasts/ LinkedIn: https://www.linkedin.com/in/garywilbers/ Twitter: https://twitter.com/GaryWilbers Facebook: https://www.facebook.com/garywilbers.speaker/ Instagram: https://www.instagram.com/gwilbers/ Youtube: https://www.youtube.com/channel/UCQsAByQnxkwkLlN6v7zhB2g Website: https://goascend.biz/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    35 min
  5. Growing to 8 Figures with Josh Hatter

    SEPT 24

    Growing to 8 Figures with Josh Hatter

    Growing to 8 Figures with Josh Hatter In this episode, we sit down with Josh, a real estate powerhouse who transformed a modest $30k 401k loan into a $10M+ empire through strategic short-term rental investments. With a background in business administration and an MBA from the Moore School of Business, Josh's journey from corporate America to building a $75M+ management portfolio is nothing short of inspiring. We'll dive into his strategic insights, the pivotal moment that led him to real estate, and his mission to empower aspiring investors to build their own legacy and wealth.   In this episode, you will learn the following: Transition from corporate career to entrepreneurship in real estate and property management. Success in the short-term rental industry and achieving eight-figure revenue. Financial management systems, specifically Profit First and the Entrepreneurial Operating System (EOS). Data-driven decision-making and its role in business growth. Challenges faced during the COVID-19 pandemic and strategies for adaptation. The significance of mentorship and community support in business development. Establishing a nonprofit focused on mentorship in the short-term rental space. The impact of regulations on the short-term rental market. Strategies for maintaining cash flow and financial stability in business. The importance of continuous learning and adapting to market changes.   Links: Facebook: facebook.com/joshuaghatter Twitter:  twitter.com/joshuaghatter Instagram: Instagram.com/hatterhat LinkedIn:  https://www.linkedin.com/in/joshuahatter/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    38 min
  6. Creating a Profit Discipline with Chris Papin

    SEPT 17

    Creating a Profit Discipline with Chris Papin

    Creating a Profit Discipline with Chris Papin In this episode, Chris Papin, Owner and Advisor at Papin CPA, joins us to share his expertise as a seasoned CPA, attorney and insurance producer. With a strong background in accounting and law, Chris offers invaluable advisory services to help businesses navigate complex financial and legal terrains, ensuring both growth and compliance. His innovative insights and client-centered approach make him a trusted guide for businesses aiming for a prosperous future.    In this episode, you will learn the following: The importance of intentionality in business decisions, particularly in strategic planning and financial management. Insights from Chris Papin on assisting small business owners with complex financial and legal challenges.  Common pitfalls in business entity selection and the significance of choosing the right business structure. Real-life examples of the financial repercussions of business decisions, such as the purchase of a luxury pickup truck and the necessity of clear goal-setting and profitability adjustments. Balance between flexibility and sacrifice in business ownership. Value of maintaining sufficient capital reserves for unexpected disruptions. Lessons from sports coaching that can be applied to business management, including understanding boundaries, motivation and effective communication. Critical aspects of managing business decisions and their consequences, with a focus on professional guidance and intentionality. How to prioritize profit over revenue for achieving ultimate life and business success.   Links: LinkedIn: https://www.linkedin.com/in/chrispapin/ Website: https://www.papincpa.com/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    40 min
  7. Using Profit First to Increase Business Value with Marty Fahncke

    SEPT 10

    Using Profit First to Increase Business Value with Marty Fahncke

    Using Profit First to Increase Business Value with Marty Fahncke   In this episode, we sit down with Marty M. Fahncke, a world-class marketer and seasoned expert in growing and scaling businesses. With over 30 years of experience, Marty has been instrumental in helping companies achieve over $1 billion in revenue. He also brings over two decades of expertise in Mergers and Acquisitions, having executed transactions worth more than $450 million. Marty shares insights from his vast experience in the business world, discussing the strategies behind scaling successful enterprises and navigating the complex landscape of M&A.   In this episode, you will learn the following: Acquisition can quickly double or even quadruple your revenue compared to organic sales growth. Importance of having organized and accurate financial records for maximizing the value of a business. Using a standardized business operating system, such as EOS or Scaling Up, can make your business more efficient and easier to sell. Transitioning to a subscription-based revenue model can significantly enhance the value of a business, as recurring revenue is more stable and predictable. Implementing effective systems and processes in reducing owner dependency.   Links: https://www.westboundroad.com/     Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    36 min
  8. Using AI to Market with Lori Highby

    SEPT 3

    Using AI to Market with Lori Highby

    Using AI to Market with Lori Highby In this episode of the Profit Answer Man, Lori Highby, a podcast host, speaker, educator and founder of Keystone Click, a strategic digital marketing agency, shares her vast multi-industry knowledge and experience. Lori’s unique ability to identify and harness the potential within businesses, from Fortune 500 companies like ABB and Syngenta to micro-businesses, has enabled her to help them achieve their marketing goals through strategic, actionable moves. Lori’s passion for teaching and learning is evident in her professional engagements, where she empowers and educates fellow life-long learners. Outside of her professional life, Lori enjoys playing hockey, brewing beer with her husband Andy, and embarking on long bike rides to test her limits.   In this episode, you will learn the following: How to unlock customer insights and understand where your audience spends their time online. Identifying customer pain points and researching your competition for easy marketing opportunities. Insights into the Profit First system which simplifies financial management and improves cash flow. The transformative role of AI in marketing and its impact on workflows. Evolving landscape of SEO and the necessity of staying informed in a dynamic digital world. Significance of consumer research, brand awareness and effective use of social media in today’s marketing strategies. Various programs designed to boost business profitability, including DIY courses and personalized CFO services.   Links: LinkedIn: https://www.linkedin.com/in/lorihighby/ Keystone Click website: https://keystoneclick.com/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

    37 min
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About

Hi, I'm the Profit Answer Man! The Profit Answer Man podcast is a weekly show hosted by Rocky Lalvani, a business coach and Certified Profit First Professional. In each episode, Rocky shares his expertise on how to increase profitability and cash flow for small businesses. Episode 1 is the why, 2 - is Mike Michalowicz, and 3-13 are Rocky's take on each chapter in the book. The Profit Answer Man podcast is designed for small business owners, entrepreneurs, and anyone else looking to improve their financial management skills. Rocky covers a wide range of topics, including how to prioritize profit, manage cash flow, and grow your business. One of the things that sets the Profit Answer Man podcast apart is Rocky's engaging and entertaining style. He uses anecdotes, humor, and relatable examples to make the concepts he's discussing easy to understand and apply. If you're a small business owner looking for practical advice on how to improve your financial management and increase profitability, the Profit Answer Man podcast is definitely worth a listen. Whether you're just starting out or have been in business for a while, you'll find plenty of valuable insights and tips that can help you take your business to the next level. Sign up to be notified when the next cohort of the Profit First Experience Course is available! http://bit.do/profitblueprint More about making profitability simple: http://profitcomesfirst.com/ Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.

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