Ep 243 Cash Is King with Peter W. Kingma
Profit Answer Man: Scaling with Profit First & Beyond
Release Date: 11/19/2024
Ep 268 Scale Without the Stress with Nick Keesey
Profit Answer Man: Scaling with Profit First & Beyond
Scale Without the Stress with Nick Keesey Ever feel like your business is running you instead of the other way around? You’re not alone—and today’s guest proves it’s possible to escape that trap and scale with less stress and more profit. Nick Keesey is a battle-tested entrepreneur who’s built multiple 6- and 7-figure businesses—and burned a few to the ground along the way. But instead of staying down, Nick turned failure into fuel, discovering how organization, clarity, and ruthless focus are the keys to sustainable business growth. If you’ve ever struggled with shiny...
info_outline
Ep 267 Profitable Exit Strategy and Succession Planning with Eric Brotman
Profit Answer Man: Scaling with Profit First & Beyond
Profitable Exit Strategy and Succession Planning with Eric Brotman Are you building a business you can actually walk away from? What if the problem isn’t how to exit—but how you think about it? This week on The Profit Answer Man, we sat down with the legendary Eric Brotman, CEO of BFG Financial Advisors, who’s flipping the script on succession planning. For him, retirement isn't the end—it's a graduation into a new, exciting chapter. In this episode, we’re not just talking theory—we’re breaking down the actual moves Eric made over 15 years to build a business that thrives...
info_outline
Ep 266 Predictable Profitable Membership Models with Stu McLaren
Profit Answer Man: Scaling with Profit First & Beyond
Predictable Profitable Membership Models with Stu McLaren What if your current business model is quietly killing your freedom? That’s the harsh truth Stu McLaren uncovered—and when he made the switch, everything changed. In this episode of The Profit Answer Man, Stu shares the pivotal moment he realized his business, while successful on paper, wasn’t scalable or sustainable for the life he wanted. What followed was a transformation into one of the most respected minds in the world of membership-based business models. If you’re a coach, creator, consultant, or service...
info_outline
Ep 265 Systems & Processes That Drive Profit with Adi Klevit
Profit Answer Man: Scaling with Profit First & Beyond
Systems & Processes That Drive Profit with Adi Klevit Chaos is expensive. In this episode of The Profit Answer Man, we crack the code on how documented systems aren’t just nice-to-have—they’re the missing multiplier in your business’s profitability formula. If you're tired of being the bottleneck, constantly putting out fires, and never getting ahead, it's time to trade the hustle for high-performance systems that scale. Our guest, Adi Klevit, reveals how business owners can create a self-operating machine by implementing and optimizing their processes. Spoiler...
info_outline
Ep 264 Profitable Exits How to Build and Sell For Maximum Value with Cameron Bishop
Profit Answer Man: Scaling with Profit First & Beyond
Profitable Exits: How to Build and Sell For Maximum Value with Cameron Bishop Are you sitting on the edge of explosive business growth—but don’t know how to scale profitably or exit wisely? Want to know how the pros turn $7 million companies into $400 million powerhouses while pocketing $100 million in profit? In this episode of The Profit Answer Man, we sit down with Cameron Bishop, a serial acquirer, turnaround expert, and strategic advisor who’s bought, built, and exited dozens of businesses. From the front lines of private equity deals to the nitty-gritty of turnaround...
info_outline
Ep 263 A Profitable Legal Strategy for Your Business with Jeff Holman
Profit Answer Man: Scaling with Profit First & Beyond
A Profitable Legal Strategy with Jeff Holman Is your professional service firm just a glorified job? Are you stuck in the time-for-money trap, wondering where the profit is? In this eye-opening episode of the Profit Answer Man, we sit down with Jeff Holman, a serial entrepreneur and attorney who cracked the code on building true profitability into a law firm—without working 80 hours a week or billing by the hour. If you're running a service-based business, this episode is a masterclass in aligning cash flow, value creation, and scalable legal support. You’ll hear how Jeff...
info_outline
Ep 262 Turn Your Business into a Freedom Machine with Leslie Hassler
Profit Answer Man: Scaling with Profit First & Beyond
Turn Your Business into a Freedom Machine with Leslie Hassler Scaling a business is the dream of many entrepreneurs, but for most, it turns into a nightmare filled with burnout, financial struggles, and inefficiencies. What if there was a way to grow and scale profitably without sacrificing your health, sanity, and freedom? On this episode of The Profit Answer Man, we sit down with Leslie Hassler, founder of Your Biz Rules, to discuss how entrepreneurs can create predictable profits, sustainable growth, and a thriving business—without the common pitfalls of burnout. Leslie shares her...
info_outline
Ep 261 Increase Profit and Cash Flow with Paul Maskill
Profit Answer Man: Scaling with Profit First & Beyond
Increase Profit and Cash Flow with Paul Maskill Are you a business owner looking to scale your operations without drowning in the chaos of daily management? Paul Maskill, a seasoned entrepreneur and financial expert, joins us on The Profit Answer Man podcast to reveal how systematizing your business can lead to sustainable growth and financial freedom. With years of experience in owning and selling service-based businesses, Paul now serves as an outsourced CFO, helping blue-collar businesses create predictable, positive cash flow. If you’re tired of feeling like your business owns you...
info_outline
Ep 260 From Startup to Multi-Million Dollar Brand with Matt McLean
Profit Answer Man: Scaling with Profit First & Beyond
From Startup to Multi-Million Dollar Brand with Matt McLean What does it take to turn a backyard business into a nationwide brand? How do you scale profitably while staying true to your mission? And what are the biggest mistakes entrepreneurs make when growing their companies? This week on The Profit Answer Man, we dive deep with Matt McLean, founder and CEO of Uncle Matt’s Organic, America’s top-selling organic orange juice brand. With distribution in 20,000+ stores nationwide, including Walmart, Whole Foods, and Kroger, Matt has mastered the art of scaling a business while...
info_outline
Ep 259 Profitable Entity Structures with Alex Langan
Profit Answer Man: Scaling with Profit First & Beyond
Profitable Entity Structures with Alex Langan In this episode of The Profit Answer Man, we sit down with Alexander Langan, an attorney and financial advisor who brings a unique perspective to wealth management and strategic financial planning. As the Chief Investment Officer of Langan Financial Group, Alex is well-versed in helping business owners build sustainable financial strategies. Our conversation covers the importance of aligning financial, tax, and legal strategies, the impact of business entity structures on profitability, and how business owners can adopt a Profit First...
info_outlineCash Is King with Peter W. Kingma
In this episode of The Profit Answer Man, we sit down with Peter W. Kingma, author of CASH IS KING and leader of Ernst & Young LLP’s working capital practice in the Americas. With over 30 years of experience advising global companies on all things cash management, Peter joins us to discuss why cash flow is the true backbone of business success and how business owners can shift their focus from profit-and-loss statements to developing a “cash culture.”
Peter provides actionable strategies for managing the five steps from order-to-cash, improving collections, and boosting cash flow through better customer management. We also dive into the importance of supply chain management and discuss how creating a “Cash Leadership Office” can transform the financial health of any organization.
In this episode, you will learn:
- Why Building a Cash Culture is Essential: Peter explains why focusing solely on profit-and-loss statements can lead businesses astray, and how a cash-centered approach ensures long-term financial stability.
- The Order-to-Cash Process: Learn the five key steps in the order-to-cash process that businesses must optimize to maintain healthy cash flow and avoid liquidity crunches.
- Strategies for Effective Collections: Peter shares five tips for managing customer relationships and disputes to improve collections and cash conversion cycles.
- Supply Chain Management for Cash Flow: Discover how better supply chain management can keep your cash flowing smoothly, even during challenging economic times.
- Creating a Cash Leadership Office: How establishing a dedicated leadership team to focus on cash flow can enhance your bottom line and allow for sustainable business growth.
Key Takeaways:
- Cash Over Profits: Even large companies struggle to manage cash effectively. Business owners must understand that cash flow is more critical than simply showing a profit.
- Sales ≠ Profit, and Profit ≠ Cash: Peter emphasizes that even profitable sales can be harmful if cash isn't collected on time. Businesses must prioritize cash flow management alongside sales and profit.
- Avoiding Cash Flow Pitfalls: Common mistakes, such as offering long payment terms or failing to consider the financial impact of customer service agreements, can cripple cash flow.
- Aligning Teams with Cash Goals: Often, sales teams are incentivized based on revenue, not cash collection. Aligning incentives with cash goals can prevent cash shortfalls and improve business sustainability.
Bio:
Peter W. Kingma is the author of CASH IS KING and leads the working capital practice for Ernst & Young LLP in the Americas. With over 30 years of experience advising global companies, Peter specializes in cash management and working capital strategies across industries such as manufacturing, consumer products, aerospace, and defense. He has contributed to publications like CFO Magazine and CNBC, and is passionate about helping businesses build a cash-centric culture.
Conclusion:
Cash is the lifeblood of any business, and without careful management, even the most successful organizations can run into trouble. In this episode, Peter Kingma provides valuable insights into how business owners, large or small, can develop a cash-focused mindset and manage their operations for long-term financial health. By implementing the strategies Peter outlines, you can ensure your business not only survives but thrives, no matter what economic challenges you face.
Links:
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: [email protected]
Email: [email protected]
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