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The Business Coach

Maui Mastermind

81 episodes

17 hours ago

In this episode of The Business Coach podcast, host David Finkel dives into the crucial financial KPI, gross profit margin. He explains how understanding and leveraging this metric can significantly increase business profitability. David shares real-life examples, practical advice, and actionable strategies for identifying the most profitable products, clients, and services. He also highlights the importance of benchmarking and how to set up your accounting software to track gross profit effe...

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Entrepreneurship

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In this episode of The Business Coach podcast, host David Finkel dives into the crucial financial KPI, gross profit margin. He explains how understanding and leveraging this metric can significantly increase business profitability. David shares real-life examples, practical advice, and actionable strategies for identifying the most profitable products, clients, and services. He also highlights the importance of benchmarking and how to set up your accounting software to track gross profit effe...

Show more...

Entrepreneurship

Episodes (20/81)

The Business Coach

The Most Under-leveraged Financial KPI | The Business Coach - Episode 83

In this episode of The Business Coach podcast, host David Finkel dives into the crucial financial KPI, gross profit margin. He explains how understanding and leveraging this metric can significantly increase business profitability. David shares real-life examples, practical advice, and actionable strategies for identifying the most profitable products, clients, and services. He also highlights the importance of benchmarking and how to set up your accounting software to track gross profit effe...

18 hours ago

24 minutes

The Business Coach

Less Is More By Jason Jennings | The Business Coach - Episode 82

In this special episode of The Business Coach Podcast, host David pays tribute to his late friend and mentor, Jason Jennings, a renowned author and business consultant. David reflects on Jason's impact and shares valuable insights from Jason's acclaimed book 'Less is More.' He discusses the power of integrating strategy into company culture and offers practical examples of how these ideas have transformed his own business and that of his clients. The episode emphasizes the importance of livin...

6 days ago

19 minutes

The Business Coach

You're Not Building Employees, You're Building Owners | The Business Coach - Episode 81

Links Website: mauimastermind.com/ Facebook: facebook.com/MauiMastermind/ Instagram: instagram.com/mauimastermind/ LinkedIn: linkedin.com/company/maui-mastermind

2 weeks ago

27 minutes

The Business Coach

Four Legal Fires All Business Owners Must Avoid | The Business Coach - Episode 80

In this episode of The Business Coach podcast, host David Finkel is joined by special guest and seasoned business attorney Gassman. They discuss the key legal fires that high-revenue companies (50-150 million USD annual revenue) face, and how to mitigate these risks. Topics include addressing accidents, compliance issues, disputes, and divorce. Alan shares insights from his 41-year career in business law to help business owners protect their ventures and personal assets, emphasizing the impor...

3 weeks ago

34 minutes

The Business Coach

How to Negotiate a Smarter Lease for Your Company | The Business Coach - Episode 79

In this episode of The Business Coach hosted by David Finkel, practical advice and actionable insights are shared on how to effectively negotiate leases for your business. David explains why execution of strategies is often more crucial than knowing what to do. The episode breaks down seven key coaching tips, covering topics like understanding market rates, starting negotiations early, cultivating options, and being aware of personal guarantees. Real-world examples of lease negotiations invol...

4 weeks ago

28 minutes

The Business Coach

Intelligent Ways to Pay Yourself with Guest Co-Host Kevin Basset, CPA | The Business Coach - Ep 78

Explore Maui Mastermind's unique approach to **coaching** and **business strategy**, designed to empower **entrepreneurship**. Learn how their expert **business coach** helps clients achieve **financial freedom** and implement effective **business tips** for sustainable growth in their **coaching business**. ---- LinksWebsite: mauimastermind.com/Facebook: facebook.com/MauiMastermind/Instagram: instagram.com/mauimastermind/LinkedIn: linkedin.com/company/maui-mastermind

1 month ago

46 minutes

The Business Coach

5 Damaging Financial Mistakes That Business Owners Make | The Business Coach - Episode 77

Join host David Finkel in this week's episode of the Business Coach podcast as he welcomes back Kevin Bassett, owner of Bassett CPA firm, to explore the damaging financial mistakes business owners make both inside and outside their companies. Learn how to avoid these pitfalls and enhance your business's profitability and your personal wealth. This episode offers actionable insights on strategic expense management, allocation of capital, and the importance of having a financial plan. Kevin als...

1 month ago

39 minutes

The Business Coach

How to Know When You Have the Wrong Team Member | The Business Coach - Episode 76

In this episode of The Business Coach Podcast, host David Finkel sits down with Rich Wood, the Coaching Director for Maui Mastermind. They dive deep into recognizing when you have the wrong team member and making necessary adjustments. Topics include preempting bad hires through better hiring practices, tools for spotting performance issues early, having tough conversations, and effective employee check-in strategies. Rich also shares client success stories and practical advice for business o...

1 month ago

35 minutes

The Business Coach

How to Make Sure You Hire the Right Person | The Business Coach - Episode 75

In this episode of the Business Coach podcast, host David Finkel discusses the critical aspects of hiring the right people for your business. Through real-life examples from coaching clients Susan and Carlos, David highlights common mistakes such as rushing the hiring process and not having a structured approach. He explains the importance of taking the time to define the role clearly and selecting candidates with essential must-have qualities. David also offers practical tips for assessing r...

2 months ago

23 minutes

The Business Coach

Optionality The Win No One Talks About | The Business Coach - Episode 74

In this episode of the Business Coach Podcast, host David Finkel discusses the various options for exiting your business, including selling, scaling, transitioning to a passive role, or passing it on to heirs. He shares insights into factors to consider, such as personal enjoyment, the future sustainability of the business, and its growth rate, to help you make the best decision. Using real-life examples and client stories, Finkel emphasizes the importance of optionality and making informed c...

2 months ago

24 minutes

The Business Coach

Selling Your Company For Top Dollar |The Business Coach - Episode 73

In this episode of the Business Coach podcast, host David Finkel sits down with seasoned CPA and entrepreneur, Kevin Bassett. Together, they explore the nuances of selling a company, especially to private equity firms. Kevin shares invaluable insights from his experience advising over 300 successful business exits, delving into the importance of always being sale-ready, understanding private equity strategies, and preparing for the due diligence process. Listen in to learn how to navigate com...

2 months ago

37 minutes

The Business Coach

Insider Secrets for Rapid Scaling | The Business Coach - Episode 72

Join host David Finkel on The Business Coach Podcast for an insightful conversation with serial entrepreneur and philanthropist Jeff Hoffman. Learn how to achieve rapid and exponential growth in your business, the importance of spending time with your customers, and how to overcome growing pains as you scale. Jeff shares his inspiring journey from founding a company in college to co-founding Priceline.com and his ongoing nonprofit endeavors. Don't miss this valuable episode packed with action...

2 months ago

45 minutes

The Business Coach

Who Owns Your Systems, Data, and Work Product? | The Business Coach - Episode 71

In this episode of the Business Coach podcast, host David Finkel addresses the critical issue of inconsistent information storage within organizations. David shares real-life examples of communication challenges faced by a company with over 250 employees and underscores the necessity of standardizing data storage to avoid operational inefficiencies. With practical advice and actionable steps, he explains how companies can ensure that intellectual property and valuable work products remain acc...

3 months ago

14 minutes

The Business Coach

Master the Art and Science of Pricing | The Business Coach - Episode 69

In this episode of The Business Coach Podcast, host David Finkel delves into the intricacies of pricing strategies with Rich Wood, the coaching director for Maui Mastermind. They discuss how to intelligently set prices using three key strategies: pricing from the inside out, the outside in, and value-based pricing. They also address the common fears businesses have around raising prices and share actionable insights on how to handle price increases without losing customers. Additionally, they...

3 months ago

29 minutes

The Business Coach

Implementing Guardrails Without Micromanaging | The Business Coach - Episode 68

In this episode of The Business Coach Podcast, host David Finkel explores the significance of internal controls in businesses and how they provide essential guardrails for success. He defines internal controls as specialized business systems that protect and inform leaders and doers, allowing for efficient and effective operations without micromanagement. Finkel categorizes internal controls into procedural, visual, and embedded types and provides real-world examples of each. He emphasizes ho...

3 months ago

18 minutes

The Business Coach

Hustle Doesn't Scale: Why You Need to Scale OUT Before You Scale UP | The Business Coach - Ep 67

In this episode of the Business Coach podcast, hosted by David Finkel of Maui Mastermind, we explore why relying on hustle alone won't scale your business. David shares his journey from hustling in his early business days to implementing effective business systems, strategic structures, and scalable practices that drive growth beyond the $1 million mark. Learn the four key elements of scaling out—systems-driven approach, internal controls, ownership delegation, and strategic structure—to tran...

4 months ago

26 minutes

The Business Coach

How To Get The Best Results From A Marketing Agency | The Business Coach - Episode 66

Join David Finkel in this week's episode of the Business Coach Podcast as he explains how to effectively hire, engage, and get the best results from an outside marketing firm without getting ripped off. David shares actionable insights and a step-by-step process including selection, clarifying promises, recapping agreements, and holding firms accountable. Learn how to protect your investment and ensure you get high-quality results from your marketing vendors. 00:00 Introduction: Avoiding Mar...

4 months ago

24 minutes

The Business Coach

Getting ROI By Developing Your Best People | The Business Coach - Episode 65

In this episode of The Business Coach Podcast, host David Finkel and coaching director Rich Wood dive into strategies for proactively investing in your team to achieve scalable business growth. They discuss the importance of identifying key employees (grow players) versus role players, effective training methods, and how to measure the return on these investments. Rich shares insights from his 30-year business career and 20 years of coaching experience, emphasizing the value of being a lifelo...

4 months ago

34 minutes

The Business Coach

12 CFO Secrets to Make Your Company More Profitable | The Business Coach - Episode 64

In this episode of the Business Coach Podcast, host David Finkel invites esteemed entrepreneur and CPA, Kevin Bassett, to share invaluable CFO strategies for enhancing business profitability. They discuss the critical role of managing by margin, the importance of using job costing methods, optimizing pricing, and understanding balance sheets. Learn how to implement efficiency KPIs, utilize capital effectively, and navigate access to capital markets. This episode is a treasure trove of actiona...

4 months ago

31 minutes

The Business Coach

3 Simple Steps to Sell Your Company for Top Dollar | The Business Coach - Episode 63

In this episode of The Business Coach podcast, David Finkel shares three straightforward steps to help business owners prepare their companies for a top-dollar sale. He emphasizes the importance of determining the value of your business, conducting a buyer's audit to identify strengths and weaknesses, and implementing improvements based on the audit. Real-world examples and insights from industry professionals illustrate how these steps can enhance profitability and increase the appeal of you...

4 months ago

17 minutes