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196: Greg Crabtree — Keeping Your Business Financials Healthy

Scaling Up Business Podcast

Release Date: 03/17/2020

208: Chin Beckman — Client Case Study in the Audio Industry show art 208: Chin Beckman — Client Case Study in the Audio Industry

Scaling Up Business Podcast

This week, Bill features a client case study! Chin Beckman is the owner of DSP Concepts, an audio platform powering over 40 million of the world’s best devices and the leading supplier to top tier brands in automotive and consumer products like Tesla, GoPro, and Bang & Olufsen, among others. They recently closed a round of Series B funding last month, which saw investments from leaders in the industry like BMW, Porsche, MediaTek Ventures, and more.

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207: Malorie Nicole — How to Shift the Stress Epidemic show art 207: Malorie Nicole — How to Shift the Stress Epidemic

Scaling Up Business Podcast

How have you been sleeping? How are you feeling lately? Do you feel off? It’s critical to take care of your mental health and your mental state during times of crisis and stress. Our guest today has practical thoughts on what you can do to feel better now.

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206: Scaling Up Insights — Coach Panel with Deb Gabor, Ami Kassar, and Anita Cabell show art 206: Scaling Up Insights — Coach Panel with Deb Gabor, Ami Kassar, and Anita Cabell

Scaling Up Business Podcast

Deb Gabor is the CEO and Founder of Sol Marketing, she helps brands scale their content and helps create brand loyalty, Ami Kassar is the CEO and Founder of MultiFunding and a nationally renowned small business advocate and leader, and Anita Cabell is the Founder of Leading Edge and has been in the Chinese market for the last 18-plus years as a Scaling Up Coach.

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205: Kevin Hundal — Pivoting During Lockdown show art 205: Kevin Hundal — Pivoting During Lockdown

Scaling Up Business Podcast

Many businesses are hurting right now, so this is an excellent opportunity to look at ways you can pivot and adjust your business model as we embrace a new daily normal. Today’s guest had his business close overnight, but through some careful thinking has reopened his doors and has kept his staff employed.

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204: Robert Glazer — Adapting to a New Normal show art 204: Robert Glazer — Adapting to a New Normal

Scaling Up Business Podcast

There are many lessons from people navigating these times right now! If you’re worried about how to maintain your routine or keep connected with your personal and professional relationships, this week’s guest has some suggestions on how to start.

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203: Mike Michalowicz — Make That Vital Change in Your Business to Level It up show art 203: Mike Michalowicz — Make That Vital Change in Your Business to Level It up

Scaling Up Business Podcast

This crisis may have made you close your doors temporarily, or at the very least, shift the way you’re doing business. This episode is all about what you should be focusing on first to get the most out of this uncertain situation!

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202: Scaling Up Insights — Coach Panel with Daniel Marcos, Andy Clayton, and Judy Guido show art 202: Scaling Up Insights — Coach Panel with Daniel Marcos, Andy Clayton, and Judy Guido

Scaling Up Business Podcast

Welcome back to another episode of Scaling Up Insights! We have guests Daniel Marcos, Andy Clayton, and Judy Guido to share their thoughts on the new developments happening in the World of Scaling Up.

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201: Daniel Ramsey — Setting up for Remote Work During a Health Crisis. show art 201: Daniel Ramsey — Setting up for Remote Work During a Health Crisis.

Scaling Up Business Podcast

Companies now have everyone working remotely. If you don’t have it yet, you’re about to. Remote work is becoming the new normal and most of us are not set up for it! Today’s episode is all about ways you can optimize your working-from-home situation.

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200: Bill Gallagher — Big Moves for Crisis Leadership show art 200: Bill Gallagher — Big Moves for Crisis Leadership

Scaling Up Business Podcast

Each day this week, Bill has been sharing a podcast about important information you need to know during a crisis. We first started with Warren Rustand, who discussed leading in a time of crisis; he was followed by Heidi Hanna and she covered the mental health aspects of dealing with a crisis.

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199: Verne Harnish — The 5Cs For Leading in a Crisis show art 199: Verne Harnish — The 5Cs For Leading in a Crisis

Scaling Up Business Podcast

Panic is contagious out there but so is leadership. It’s time for leaders to rise up! This is why we have a very special guest today and that’s Verne Harnish. He has spent 38 years working with the best leaders dealing with crises and has some words of wisdom for you today.

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Cash is a king and you can’t survive without cash. You also cannot take advantage of opportunities without cash. If you’ve prepared well, you have a big cash reserve right now and you will be able to maximize your return on luck during this period. However, what happens if you don’t currently have enough in reserves?

 

Greg Crabtree is a speaker, author, entrepreneur, and financial expert. He is the CEO of Crabtree, Rowe & Berger, PC, a CPA firm that focuses on helping businesses create sustainable profits, manage tax implications, and more. Greg is also the author of the book, Simple Numbers, Straight Talk, Big Profits, in which he shares his core principles on how to turn your business into a wealth-building engine.

 

When Greg wrote his first book, it was during a time where the market had just recovered from the recession. During his research, he found that a fully capitalized business, which means businesses that had two-months of core capital targets achieved, were the ones that took advantage of their situation the most and not only survived the recession but thrived from it.

 

Greg realizes that not every business has two months of cash on hand, which just means that businesses currently facing a crisis need to think creatively on how to navigate through situations like this. Whatever is happening in the world today, take a look at your profit engines and ask yourself, “Am I going to be losing money or am I just not going to make as much?”

 

If you’re going to be losing money, look at the balance sheet right away and see how much runway you might have. Then, start cutting things that don’t make sense for your business right now. One of Greg’s travel clients realized that it made the most sense to turn off their paid search as fewer people will be willing to travel right now.

 

There are big ripple effects happening all across industries. Investors are hesitant to invest, restaurant and service industries are down, people are staying home more. However, that doesn’t mean all businesses are affected equally. Greg’s real estate clients are OK in this uncertain time. Take a look at your particular industry and see if this is a disaster for you.

 

Greg believes most industries have 90 days of runway to wait and see what this pandemic might turn into before it puts businesses in a tight situation. He is hopeful that by June things will be a little more clear and the pandemic situation will be positive. Most of Greg’s clients right now are growing between 10-30% a year. Greg’s advice is to reduce unnecessary spending, be cautious about staff adjustments, and ride it out. And remember, the stock market is not an accurate indicator of the economy.

 

Interview Links:

Simple numbers.me

Simple Numbers, Straight Talk, Big Profits,
by Greg Crabtree

Greg on LinkedIn

 

Resources:

Scaling Up Workshop: Interested in attending one of our workshops? We have a few $100 discounts for our loyal podcast listeners!
Scaling Up for Business Growth Workshop: Take the first step to mastering the Rockefeller Habits by attending one of our workshops.

Scaling Up Summits (Select Bill Gallagher as your coach during registration for a discount.)

Bill on YouTube