One Step Better Podcast

Whirks
  • 4.5 (15)
  • ENTREPRENEURSHIP
  • UPDATED WEEKLY

Tune in for insight to help small business owners and their teams get One Step Better every day. You'll gain practical tools to help you improve processes and empower your team.

  1. 5D AGO

    Has Tipping Gone Too Far? A Business Owner's Perspective

    Most restaurant owners think about tips from the payroll side. But your customers are thinking about tips from the experience side, and right now, that experience is broken. In this episode, Matt and Mike talk about tipping culture from both sides of the table. As customers frustrated by guilt tipping, receipt clutter, and being asked for 25% on an empty cup. And as accountants who keep finding restaurant clients eligible for the FICA tip credit that no one ever told them about.  They compare the U.S. tipping model to what they've experienced overseas, talk through why transparency and simplicity are a competitive advantage, and challenge the "that's how everyone does it" mindset that keeps most operators stuck. We get into: Why the checkout experience at most restaurants is working against you The difference between earning a tip and guilting someone into one The FICA tip credit and why most eligible restaurants have never claimed it What "no tax on tips" actually changes for employers vs. employees Why simplifying your tip structure is a customer experience decision, not just a payroll one If you run a restaurant and haven't rethought your tip policy in a while, this episode will make you look at it differently. Not just the compliance side, but the way your customers feel when the check hits the table. Subscribe for weekly conversations on running a smarter, more profitable business. #OneStepBetter #RestaurantOwners #TippingCulture #FICATipCredit #CustomerExperience #SmallBusiness #RestaurantManagement #PricingStrategy

    18 min

  2. FEB 26

    Your Tip Structure Has Payroll Risks You Haven't Thought About

    Most business owners set up their tip policy once and never think about it again. That's usually when the problems start. In this episode, Matt and Mike get into the compliance side of tipped employees that most owners don't hear about until they're already in trouble. They cover why overtime math gets ugly when tipped and non-tipped hours land in the same week, what happens when nightly cash-outs create paychecks with zero withholding, and how the One Big Beautiful Bill just expanded FICA tip credit beyond restaurants for the first time. Highlights include: Why tipped overtime isn't calculated the way most owners think What net zero paychecks are and why your employees blame you at tax time The 80/20 rule and how it changed who can do what during a shift How FICA tip credit just expanded to salons, spas, and other tipped industries Why "we've always done it this way" is the most expensive sentence in your business If you have tipped employees and nobody has explained how all of this actually works, this episode will show you where the risks are before they find you. Subscribe so you don't miss Part 2, where Matt and Mike flip to the customer side of tipping and why the checkout experience at most restaurants is quietly working against them. #OneStepBetter #TippedEmployees #FICATipCredit #SmallBusiness #RestaurantOwners #SalonOwners #OvertimeRules

    18 min

  3. FEB 18

    How to Raise Prices Without Losing Your Regulars

    Do you actually know what your menu items cost you? Not what you think they cost. What they really cost after portion creep, waste, vendor substitutions, and everything else that chips away at your margins. In this episode, Mike and Matt talk through the pricing paralysis most restaurant owners face right now and how to use your actual costs to make confident pricing decisions. You'll hear: Why customers aren't as price-sensitive as you thinkThe gap between theoretical cost and actual cost (where your profit disappears)How to figure out what your top 10 items actually cost youWhy inventory management problems show up as pricing problemsWhat suggestive selling has to do with menu pricingIf you're guessing at pricing instead of using your actual costs, this episode will show you where to start. 🍽️ More restaurant profit tips: https://hubs.la/Q043D4fg0 #restaurantpricing #foodcost #restaurantprofitability #restaurantaccounting #restaurantmenuengineering

    18 min

  4. FEB 4

    What Your POS System Isn’t Telling You About Profitability

    You're looking at your POS report. Then your spreadsheet. Then your bank account. They're all telling you something different. So which one do you believe? In this episode, Matt and Mike talk through what your point of sale system is actually built to do, where it falls short, and what happens when your sales data, labor scheduling, and inventory management aren't talking to each other. We get into: Why POS systems are great for revenue but limited for profitabilityWhat it looks like when all your restaurant data actually connectsWhy that "something feels off" feeling usually means something is offHow apathy and gut-based decisions keep the problem goingMore resources for restaurant owners → https://hubs.la/Q041Rrn_0

    22 min

  5. JAN 30

    Why Your Restaurant Is Busy But Not Profitable

    It looks like you’re winning from the outside, but your bank account tells a different story. In this episode, Matt and Mike share what they've seen across hundreds of restaurant P&Ls: consistent patterns, missed opportunities, and small changes that add up to real profit. There’s no secret formula to profitability, but there are three financial levers that actually move the needle in restaurants: revenue per customer, food costs, and labor costs. What to listen for: * How to raise revenue without raising prices * What your theoretical food cost should tell you * How fear-based scheduling is hurting your bottom line * Why your best people deserve a better system  There are 7 consistent cash drains we see killing restaurant profits…Do you know which one is hurting you most right now? Check the full list → https://hubs.la/Q040KT7P0 Subscribe for weekly episodes on money, operations, and everything in between for small business owners.

    30 min

  6. JAN 21

    Why You Can't Understand Your Accountant: Part 2

    Your accountant says an expense is "non-deductible" and you're confused because you paid for it with your business card. Doesn't that reduce your taxes?Nope. Just because you used your business card doesn't make it deductible.Join us for Part 2 of simplifying accounting terms that confuse business owners. This time: balance sheets, tax credits vs. deductions, and why your accountant keeps asking if things are "material." *Haven't listened to Part 1 yet? Start there first! Grab your copy of the 'Accounting Terms Glossary' and you walk into your next financial meeting with confidence: https://hubs.la/Q03-_tRN0

    27 min

  7. JAN 15

    Why You Can’t Understand Your Accountant: Part 1

    Your accountant just asked, “Have you looked at your P&L lately?” And you’re sitting there wondering if that’s the same thing as your profit & loss statement. Or your income statement. Or… are those different things? So, we asked our accounting team to list every word they use that clients probably don't understand. They sent back 30+ terms. This episode is Part 1 of us breaking down that list. Starting with the basics: Net incomeGross profit marginWhat a P&L actually isWhy EBITDA has five lettersAnd how tax brackets really workSubscribe for Part 2 where we’ll keep going down the list of terms that confuse the heck out of business owners. Don’t want to keep Googling accounting terms? Download our free glossary of confusing accounting terms: ⁠https://hubs.la/Q03-_tRN0⁠

    32 min

  8. JAN 7

    5 Numbers Every Business Owner Should Be Tracking Monthly

    Do you know if your business made money last month?Not "Did you make sales?" Did you actually make PROFIT? Most business owners track revenue religiously, but can't answer this without doing mental math. Your P&L is your scorecard. But most small business owners don't actually understand what it is. If you don't know your revenue, don't track your costs, don't check your margins, you'll never get excited about your business or focus on the number that really matters. In this episode of the One Step Better Business Podcast, Matt and Mike break down the 5 numbers that tell you if you're winning or losing each month. Highlights include:- Why sales is an "ego stat" that keeps you in the dark- The 5 numbers to track: Cash, Revenue, Margin, Profit, Net Profit to Owner- How to set real targets (not just track random numbers)- The "buckets" method for your cash- Industry reality: restaurant vs. construction vs. retail margins- Net profit before owner vs. after owner (they're different) Now go build your scorecard! Track your five numbers. Figure out if you're actually winning. And if this got you even a little bit excited about looking at your P&L for once, give us a follow. We do this every week and promise to keep the accounting talk as painless as possible :)

    20 min
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Tune in for insight to help small business owners and their teams get One Step Better every day. You'll gain practical tools to help you improve processes and empower your team.

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