Belk on Business

Measuring Employee Satisfaction - Belk on Business – Episode 132 Less than 20% of employees feel their leaders communicate well Less than 20% of employees feel their leaders provide enthusiasm Less than 25% of employees feel their leaders measure performance in a way that motivates them What KPIs are you measuring for satisfaction? - Employee fulfillment or satisfaction should be measured by askin...

On this podcast, we discuss the role that debt plays in our personal finances and business finances, the emotions surrounding debt, mindsets regarding debt and the road to either bondage or freedom. The podcast concludes with the two practical action items every business owner needs to possess a proper paradigm towards debt and achieve financial health in the long term. Subscribe on these platform...

Becoming Your Own Administrator and Trustee on Your Retirement Account with Saen Higgins – Belk on Business – Episode 130 Connect with Saen and become your own retirement plan administrator: www.qrpcall.com Saen Higgins, owner of Association for Optimum Achievement since 1996 is the world’s most sought-after teacher and public speaker on the topic of Tax Deed and Tax Lien Certificate investment. H...

Setting Benchmarks to Reach 2022 Goals 1. One can have resolutions or even goals for your business but benchmarks and timelines for success need to be set 2. What does success look like for you? 3. Focus on the identifying the person you need to be so to reach the goals you have set. 4. Set up personal and business calendars and budgets that direct you towards hitting benchmarks. Subscribe on thes...

21 Year-end Tasks for 2021 - Belk on Business - Episode 128 1. Review licensing requirements – business, sales, and industry specific licenses 2. File annual reports with your state’s secretary or department of state and/or make any necessary amendments for changes (address, officers, etc.) 3. Hold annual board meeting and prepare and file meeting notes 4. Conduct inventory count as of December 31...

God as my CEO with Glenn Stromberg with Stromberg Investment Group Glenn for four decades has been a leader in manufactured homes on land, “the best kept secret in real estate investing” changing the conversation and paradigm of how investors and homeowners view mobile homes. Additionally, Glenn works with investors in building and maintaining wealth through real estate. 1. You are originally from...

Tom Laune with Bulletproof Wealth – Tom is described as “The leader in guiding real Estate investors to become their own banker”. He does this by solving the problem of low returns and increased taxes when storing money in a traditional bank by creating a line of credit using specially designed life insurance. We hear a lot about legacy strategies but a lot of misunderstanding as it relates to wha...

Conversation with Andrew Cordle as we discuss the reasons businesses and business owners succeed or fail, hurdles a business owner must face to scale a business and the use of media for branding. Andrew is among many things an entrepreneur, speaker, author and wealth strategist. Host of Money Is podcast and a owner of a number of different types of companies from tech, collectibles to real estate....

Rules to Determine if Employee or Contractor  - Business owners attempt to avoid the additional work of paying someone as an employee as well as making FICA contributions and unemployment tax by classifying workers as contractors instead of employees.   - The penalty for misclassifying a worker as a contractor instead of employee can be up to 35% of the payments made to the wrongly class...

Enhancing Brand Awareness   1) Focus your efforts on your niche’ – have you identified your audience?  Do you know your audience?  2) Social media content should be short and relevant to your audience whether written content, videos or infographics  3) Use blogs and newsletters to provide longer form content to get into the details of what you’ve learned that can help your audi...

The Intersection of Business and Personal   Your personal life effects your business and to be effective in using your business to make a personal impact, one must manage the business and personal effectively.  There is no such thing as work – life balance, only work – life fluidity f - How you show up effects your culture – bad culture results in high turnover, poor attitudes and poor p...

Depreciation for Real Estate with Tom Olson - Belk on Business - Episode 121   Active Turnkey Podcast: https://www.youtube.com/channel/UCbD9r69ntVcU8KEiGNUEODg/videos    Subscribe to Belk on Business on these platforms:     Apple Podcast: https://apple.co/2Zp6hgj​​​​​​​​​​​​ ​  Spotify: https://lnkd.in/gcWDnFZ​​​​​​​​​​​​   Stitcher: https://bit.ly/34aRgO2​​...

Profit First with David Richter – Belk on Business – Episode 120 - What is profit first? - What mistakes to business owners make consistently? - What does it mean to “know your numbers”? - What numbers should a business owner by looking at? - What are a couple things a business owner should start doing today to improve the financial health of their company? David’s book “Profit First for Real Esta...

Don’t Eat the Fruit   “Don’t capture the spoils of your wealth.  Eat some fruit, save some fruit, give some fruit and plant seeds”   1) Cultivate the tree – tree needs water and sunshine.  Water by developing and investing in yourself and the skillset of you and your team.  Sunshine represents self-care, getting proper rest and exercise.   2) Personal financial princi...

Mindset to Exit   1) Humility – ability to take direction to address leadership weaknesses (internal) and issues related to the business (external)  2) Holistic understanding of all aspects of the business – management, marketing, operations and finance   3) Honesty as to performance – numbers don’t lie - in time all strengths and weaknesses will be identified and it’s best to be tr...

Deeper into the Numbers   • Cash - Were internal controls related to cash followed?  Was spend approved following internal processes?  No one should have unilateral control over cash…different person for approval, spend and reconciliation processes.  Is there a cash overage or shortage based on projections?  Review spend against budgeted thresholds.  Review spend on t...

Money Is ... with Andrew Cordle   1) What Money Is  2) What our spending tells us about ourselves  3) The love of money  4) Simon the Sorcerer  5) What money can't buy  6) The results of greed  7) The fallacy of generational wealth   Subscribe on these platforms:      Apple Podcast: https://apple.co/2Zp6hgj​​​​​​​​​​​​ ​   Spotify: h...

Why Business Owners Succeed w/ Andrew Cordle   Subscribe on these platforms:       Apple Podcast: https://apple.co/2Zp6hgj​​​​​​​​​​​​ ​   Spotify: https://lnkd.in/gcWDnFZ​​​​​​​​​​​​    Stitcher: https://bit.ly/34aRgO2​​​​​​​​​​​​    YouTube: https://youtu.be/wxUn8ROn6SQ   Full Money Is interview: https://www.youtube.com/watch?v=pQfKwq0I...

Client Onboarding     1. Consistent and comprehensive process for the team  2. Relevant and comprehensive to the client  3. Timely – schedule soon after sale   4. Organized – script and process for the meeting  5. Personal feel for each client  6. Exceed client expectations   Subscribe on these platforms:       Apple Podcast: ht...

Financial Metrics for Scaling   1. Product/service deliverability – speed which work is completed and customers receive deliverable within expected time…measure of efficiency  2. Inventory turnover ratio = cost of goods sold over average inventory  3. Payback period = customer acquisition costs over monthly revenue times gross profit percentage  4. Client margin =  revenue...

Financial Metrics for the Profit Phase   1. Retention rate and churn – Retention rate - customers that keep using your product or service over an extended period of time and make repeat purchases. Net negative churn - the revenue gained is higher than the revenue lost from churn. A business that can’t replace customers or revenue faster than it loses customers or revenue will eventually becom...

Branding   1) What exactly is a brand and how is it different than marketing?    2) I happen to like my branding, how do I know when I need to update my brand’s image?  3) What questions do I need to have answered when developing a brand? (mission, core values, color theory)  4) What role does my company’s story play in my brand image and messaging? (tell story in video)&n...

Financial Metrics for the Growth Phase   The growth phase is the second phase or stage of business’s life cycle.  Sometimes called the perseverance or survival stage.  The main problem a business in this stage faces is understanding the relationship between revenue, expenses, and cash flow.  The entity usually has enough revenue to match expenses but struggles with enough cash...

Financial Metrics for the Startup Phase  1. Budget to actual spend.  The business in the phase needs to establish a budget on how it is going to spend the funds invested or raised for the timeline the owners have established for this phase.    2. Revenue – this includes not just top line revenue but also measuring monthly recurring revenue.  How much revenue is needed to m...

Reaching Customers through Emotion - Belk on Business - Episode 108 Foundationally, a business to succeed in the long term must deliver to the customer what they want. To either help them tell their story or add value to their story. In my accounting firm our goal is to “serve clients by helping them develop and understand their financial story in a holistic manner”. If we are going to reach our p...