Blue Collar Wealth Club

In this episode, Jerry and Shena discuss the importance of financial forecasting and planning for the future of your business. They emphasize the need to create two different forecasts: one based on the worst-case scenario and one based on growth goals. They also highlight the importance of maximizing profits from existing work before attempting to scale. They discuss the concept of the 20-mile ma...

In this episode, Shena and Jerry discuss the importance of protecting your business through insurance and legal entity structure. They emphasize the need to avoid piercing the corporate veil by not intermingling personal and business finances. They also highlight the importance of having the right types of insurance coverage and ensuring that the coverage is accurately documented. They discuss the...

In this episode, Jerry Garcia and Shena White discuss business financing and the dos and don'ts of getting cash for your business. They explore the reasons why businesses may need an influx of cash, such as managing accounts receivable and making investments in marketing or equipment. The hosts highlight the importance of having a line of credit from your own bank and building cash reserves as...

In this episode of the Blue Collar Wealth Club podcast, Jerry Garcia and Shena White discuss the importance of surviving the slow season in the trades industry. They share their experiences and provide tips on how to plan ahead and come out thriving on the other side. They emphasize the need for budgeting and saving money for the slow season, as well as exploring additional services and off-peak p...

Summary In this conversation, Shena and Jerry discuss wealth building and the importance of investing in assets that generate both immediate cash flow and long-term value. They explore the concept of the 'hit by a bus test' and how to build a business that can survive without the owner. They also challenge the traditional approach to retirement planning and discuss alternative investment o...

Summary In this episode, Shena discusses the importance of proper financial planning and cash flow management for long-term business success. She introduces the concept of the seven levers of cash and explains how each lever affects cash flow and profitability. The seven levers include income, pricing, cost of goods sold, overhead, accounts receivable, accounts payable, and inventory. Shena emphas...

The conversation discusses the challenges and pitfalls of managing the financial aspect of a business, particularly for non-business and non-finance professionals. It highlights the importance of having a well-organized financial house to avoid overwhelming and scary situations. The conversation also explores the concept of over-leveraging and the consequences it can have on a business. The exampl...

Sharon Riddle shares her entrepreneurial experiences and real estate investing journey, drawing from her family's background in owning businesses in the blue-collar space. She discusses her family's businesses in construction, auto mechanics, and HVAC and plumbing, highlighting the importance of exceptional service and leveraging family reputation. Sharon then delves into her own investmen...

Summary In this conversation, Jerry Garcia and Shena White discuss the importance of exit planning for business owners. They highlight the fact that many businesses are not sellable because they lack the key elements that buyers are looking for. They emphasize the need for business owners to transition from being integral to the day-to-day operations to taking on an entrepreneurial role. They also...

Summary In this episode, Shena and Jerry discuss the importance of cash flow for blue collar businesses. They highlight the issue of accounts receivable and how it can negatively impact cash flow. They emphasize the difference between cash flow and profitability, and the need to track and understand both. They also discuss the importance of creating budgets and estimates that accurately reflect th...

Delegation is a crucial aspect of business growth and success. Many entrepreneurs struggle with the belief that only they can do things right, but this mindset limits their ability to scale their businesses. Delegating tasks allows entrepreneurs to focus on higher-level responsibilities and strategic planning. It also helps them become better bosses and leaders. Effective delegation requires clear...

In this episode, Shena and Jerry discuss the concept of recurring revenue and how businesses can create a steady stream of income by selling something once and getting paid for it repeatedly. They provide examples of service-based businesses that have implemented recurring revenue models, such as pest control companies and cleaning companies. They also highlight the benefits of recurring revenue,...

The conversation discusses the transition from being an employee to being a business owner and the challenges that come with it. The main themes include accountability, the lack of a consistent paycheck, the importance of a clear vision, the difference between being self-employed and being a business owner, and the need to build a team and delegate. The conversation emphasizes the need to embrace...

In this episode, Shena and Jerry discuss the importance of networking for business owners. They emphasize the need to network with intention and purpose, focusing on connecting with the right people who can refer clients or collaborate. They highlight the value of networking within your own industry and finding networking events where your ideal clients are present. They also provide tips on how t...

Kyle Fisbeck shares his journey of starting a mechanical and plumbing company and the challenges he faced along the way. He emphasizes the importance of having a business owner mindset and surrounding yourself with supportive people. Kyle discusses the stress that comes with running a business and the need to keep grinding and never give up. He also talks about the benefits of hiring key employees...

Hello, lovely listeners! Join us for this episode as we – your hosts Jerry and Shena – examine self-investment. As business owners ourselves, we understand the importance of nurturing our skills and well-being like a million-dollar racehorse! Shena shares how she was inspired by Joe Polish's analogy of treating ourselves like prized racehorses, ensuring we receive the best nourishment and trai...

Join your hosts Jerry and Shena this week as we discuss the worst financial advice that we have ever received and why it doesn’t hold up in today’s financial landscape! Shena kicks things off by challenging the all-too-common advice: “If you can’t pay cash for it, don’t buy it.” While this might sometimes make sense for luxury items, it is absolutely not a one-size-fits-all rule, especially in bus...

We are back, dear listeners, with another episode that is absolutely essential listening for anyone running a blue-collar business - or even any business at all! Join us this week as we – your hosts Jerry and Shena – take a deep dive into the three most common mistakes we see blue-collar business owners make and, more importantly, how you can steer clear of them! We start things off by discussing...

We are so thrilled to bring you an episode that’s all about celebrating the big wins in our lives and careers, discussing some of the pivotal moments that have shaped our paths and the lessons that we have learned along the way! Join us (your hosts Jerry and Shena) as we kick things off by sharing some of our personal biggest wins. Shena opens up about her incredible journey back to college. Imagi...

Join us, your hosts Shena and Jerry, as we dive into the story behind our podcast and the driving force that brought it to life! We are beyond excited to bring you along on our journey as we explore the world of wealth creation and financial empowerment tailored specifically for blue-collar professionals! Listen in as we share insights from our own business ventures, such as Shena’s Your Pocket CF...

I, Jerry, am here to follow up on Shena’s intro in episode 1 by giving my own background and what led me here. Growing up in a blue collar family with my dad as a mailman and my mom as a school custodian, I personally saw the struggles and triumphs that come with being a hardworking family. While we always had enough money, we certainly weren’t swimming in it, and there were financial hurdles that...

Welcome, everyone to the Blue Collar Wealth Club podcast! We are so excited to be bringing this show to you! Hosted by Shena and Jerry, Blue Collar Wealth Club is your go-to resource for transforming your blue-collar income into generational wealth. Whether you're a contractor, a plumber, or any other trade professional, we're here to help you ensure that your hard work pays off - not just...