She Means Profit Melissa Houston

"As you're starting your business, you're going to come across so many interesting and sometimes real challenges, really exciting problems to solve, areas of compliance and requirements that probably seem daunting, and I would say really seek out resources, seek out mentors.”

— Dina Segal

Contracts will always be an essential part of a business. Whether it’s a business deal with your supplier or establishing a new agreement with your client, this piece of paper plays a vital role in protecting not only your business’s best interests but also the rights of the other party.

Writing down agreements and signing them may seem simple, but contracts are significantly more complex. They leave no stone unturned, explore every point thoroughly, and allow for no exceptions—except when both parties agreed to do so.

This episode will explore the ins and outs of the beginning of every business journey: the contracts. Beyond the lengthy paragraphs and complicated words, we will learn the factors to consider in contract negotiations, stress the importance of thoroughly reading the written word before signing, and discuss ways to ensure that your contract attracts only the best and the most suitable partners for your business.

Listen to learn:‌
How to classify workersHow organizations can help with your resources and mentoring needsHow to negotiate your contract wellWhy it’s important to know your business core for contract negotiationsWhy flexibility is essential in your contractHow to avoid ambiguity in contractsWhy attorney’s fees can’t be overlooked in business negotiationsHighlights:‌

4:28      Services Third-Party companies can do for you
7:56      Contracting people from all around the world
10:21   Organizations that help in mentoring start-up businesses
12:28   Importance of contracting
14:50   Payment terms in contracts
16:49   A Business’ Liability Issues
19:01   Proper Process of Contract Termination
22:06   Importance of reading Terms and Conditions
22:58   Creating a form for your business
23:49   Attorney's fees in Contract Provisions
24:03   Seeking Guidance and Mentors
Links:‌ ‌
Dina Segal
Gusto Website

Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business
Main website
Cash Clarity Course
Apply to Work With Me
Mini-course: The Debt Repayment Calculator
Mini-course: Pay Yourself
Mini-course: Personal Net Worth Calculator
Mini-course: The Ultimate Budget Binder

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

“With the right mindset and dedication, successful debt management is within your reach.”

—Melissa Houston

Many aspire to start their own business, but a common obstacle preventing them from doing so is financial constraints. People who do not have enough funding often resort to taking out loans to build their first business.

But what’s the deal with businesses that end up sinking rather than soaring?

The culprit is often debt. Some businesses fall into the trap of having massive loans without a solid plan. Business owners tend to choose the short-term solution of gearing up, taking debts, instead of focusing on the long-term ones. Let’s be real, when those loans start piling up, it’s not just your business that is affected, but your personal life too.

Whether you’re in it for business or dealing with personal finances, taking on debt is a big responsibility. You have to ensure that you can deal with it and properly resolve it in order to avoid the chances of it overtaking your business or life.

Listen to learn:‌
Why most businesses resort to taking up debtsWhy  entrepreneurs should focus on  long-term solutions for their businessHow can business owners manage their debts in businessHow the pressure of debt can affect one’s mental healthHow business owners or even individuals can avoid taking too much financial debtHighlights:‌

03:39  Having personal debt to run the business 
04:39  What too much debt can do to your business
06:22  Impact of debt on our mental health
08:17  Knowing your business numbers
11:18  Tip 1: Analyze Debt and Financial Situation
11:59  Debt Repayment Calculator Mini Course
12:28  Tip 2: Prioritize Your Debts
13:02  Tip 3: Negotiate with Creditors
13:49  Tip 4: Consider Debt Consolidation
15:20  Tip 5: Seek Professional Advice

Links:‌ ‌  
Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessUnlock Your Profit Potential With This Smart Pricing StrategyCash Clarity CourseApply to Work With MeMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

“The bottom line is that tracking your sales conversion is an essential step towards driving your business profit and ensuring that your business profit continues to grow and thrive, and not just your profit, but your sales and your whole business.”

—Melissa Houston

What sets a business up for success? It should have the capacity for profitability and scale.

Making a profit in your business can be tough, especially in a challenging economy. In this episode, we emphasize that tracking sales conversions is not just about boosting profit but about fostering a holistic and thriving business.

Smart business owners take into consideration their marketing and sales performance indicators. Why? Because when you are critical about your marketing and sales, you learn what’s working and what needs to improve to achieve sustainability.

Success in business does not happen in an instant. It truly takes time and effort, no doubt about it. But here’s the secret: investing your time and effort to wholeheartedly grasp your business’s financial data and sales will provide you with the necessary foundation for your business to thrive.

Listen to learn:‌
Why tracking sales conversions improves business profitWhy business owners must understand the marketing and sales KPIs in their businessWhy determining the customer needs is beneficial in improving your salesHow to reach the right people to help meet your business goals How tracking your sales helps improve the return on investment for your businessHighlights:‌

01:12: The root cause of money problems in business
02:47: Three profit drivers in business
02:53: Path Profitability Masterclass and Unlock Your Pricing Strategies Podcast
04:21: Marketing and Sales KPIs
05:40: Proper outsourcing and hiring of people for your business
06:19: Importance of tracking sales conversions to increase profit in business
07:02: Understanding your return on investment
10:12: Knowing what your customer needs
11:30: Identifying the potential for improvement
13:36: The key step in improving your business profit

Links:‌ ‌  
Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessUnlock Your Profit Potential With This Smart Pricing StrategyCash Clarity CourseApply to Work With MeMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

“There’s never gonna be a perfect time to start a business. There’s never gonna be a perfect time to start calling yourself an entrepreneur until you actually start doing it.”

— Dianne Welsh

Here’s the deal: success isn’t some kind of magic trick. It starts when you decide to go on an adventure and grab opportunities offered to you. When it comes to building a business, you turn these opportunities into action-packed episodes that coincide with the difference you want to leave.

As entrepreneurs, your top-notch priority should be making sure you’ve got all your bases covered. You want to ensure that you examine every bits and pieces that are essential in making these opportunities successful. Once you grasp these insights, you plan out your strategy and get into action mode.

Business is not a simple game where you just join and see how it goes. You go through your business, prepare a succession plan, and actually critique how the opportunity will work its way to success.

Listen to this episode to learn:‌
Why having an entrepreneurial mindset leads to successWhy the key to creating a successful business is having a business financial managementHow successful entrepreneurs put opportunities into actionHow an entrepreneur deals with challenges of generational wealthHow global opportunities for entrepreneurs contribute to keeping a sustainable businessHighlights:‌
01:29: The Entrepreneurial Mindset
03:32: Qualities possessed by successful Entrepreneurs
06:02: Business Finance as key to Creating Successful Business
07:18: The Entrepreneurial Family Business book
11:11: Problems faced by Family-Based Businesses
13:32: Dealing with challenges of Generational Wealth
15:58: Awareness on Global Entrepreneurship Opportunities

Links:‌ ‌
Dianne Welsh
https://diannewelsh.wp.uncg.edu/
LinkedIn: https://www.linkedin.com/in/dianne-welsh-9755989/
The Entrepreneurial Family Business: From Survival to Success: https://he.kendallhunt.com/product/entrepreneurial-family-business-survival-success

Cash Confident: An Entrepreneur's Guide to Creating a Profitable Business
Main website
Cash Clarity Course
Apply to Work With Me
Mini-course: The Debt Repayment Calculator
Mini-course: Pay Yourself
Mini-course: Personal Net Worth Calculator
Mini-course: The Ultimate Budget Binder

Follow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

“Cash is queen and with the right strategies, you can manage it wisely and achieve long-term prosperity.”

—Melissa Houston

When running a business, cash flow is absolutely critical. As business owners, we are responsible for making sure that the cash moving in and out of business is managed properly.

Why is it crucial to avoid running out of cash? Cash is the lifeblood of your financial obligations. And let me tell you, it’s not just about keeping cash at hand; it’s about fueling your business’s success. When you’ve got a healthy cash flow while your business profits, that’s when you can really invest in driving your business toward success.

And as most businesses gear up with their business financial planning for 2024, take into consideration strategies that can help you manage to stay and have a positive cash flow that can earn your chance to invest more in your business.

Listen to learn:‌
Why business owners need to have their business financial plan ready for 2024Why having a cash management system is essential for every businessWhy do businesses need to set up a cash reserveHow does closely monitoring the inflow and outflow of funds impact the overall performance of a businessHow can business owners keep track of their accounts receivableHow automating bill payment keeps business expenses under controlHow can business owners improve and gain positive cash flow in businessHighlights:‌

03:07: Gearing Up the Business Financial Planning for 2024 
05:32: Business Cash Management
06:33: Profitability and Positive Cash Flow
07:17: Key Cash Management Strategies: Managing Cash Flow
08:23: Key Cash Management Strategies: Set Up a Cash Reserve
10:06: Key Cash Management Strategies: Tracking your Accounts Receivable
11:10: Key Cash Management Strategies: Automate BIll Paying
12:10: Key Cash Management Strategies: Improve Cash Flow in Business
13:35: Evaluate inventory management practices
14:42: Done in a Day Service Program

Links:‌ ‌  
Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessUnlock Your Profit Potential With This Smart Pricing StrategyCash Clarity CourseApply to Work With MeMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa

“Every business owner has made mistakes along the way, but the secret to success is learning from each mistake.”

—Melissa Houston

What makes a business successful? It’s how you turn mistakes into opportunities to improve and grow your way to success.

Mistakes are not to be seen as weaknesses if you are a business owner. These must be seen as valuable lessons that can help you on your way to success. No successful business earned their way up without failing along the way and learning from the mistakes they made.

But just because mistakes are part of a successful business does not mean that it is right to commit them repeatedly. This episode talks about five tips on how business owners can learn from common mistakes in growing a business.

Listen to learn:‌
Why making mistakes is absolutely normal for every business ownerWhy most business owners need to have a business financial planWhy tracking expenses is important in every businessHow must business owners price their products or services profitablyHow business owners should separate emotion from smart-making decisionsHow to use data to help business owners improve their businessHighlights:‌

03:51: Common mistakes by Small Business Owners
06:21: First tip - How to build a business financial plan
09:24: Second tip - How to avoid failing to track expenses in business
11:11: Third tip - How to price products or services profitably
11:27: Unlock Your Profit Potential with These Smart Pricing Strategies podcast
12:58: Fourth tip - How emotions get in the way of smart making decisions
14:47: Fifth tip - How data improves one’s business
15:45: The Cash Confident Framework course

Links:‌ ‌  
Cash Confident: An Entrepreneur's Guide to Creating a Profitable BusinessUnlock Your Profit Potential With This Smart Pricing StrategyCash Clarity CourseApply to Work With MeMain websiteMini-course: The Debt Repayment CalculatorMini-course: Pay YourselfMini-course: Personal Net Worth CalculatorMini-course: The Ultimate Budget BinderFollow me on:

IG: @melissahoustoncpa
LinkedIn: @melissahoustoncpa