Ron LaBeau: What its like to work with a CFO

Description

About Ron LaBeau: Ron LaBeau is the proud owner of Show Me Custom Gifts and Show Me Monuments, where they specialize in laser engraving. After spending over 25 years in the corporate world, Ron finally realized his dream of owning his own business, due to a sudden job loss in February 2020. He's truly passionate about assisting businesses and grieving families during their times of need. Ron understands the struggles of finding new customers and the frustrations of dealing with empty promises from marketing agencies. That's why he believes in investing in his business and providing top-notch, customized products that serve as mobile billboards and generate positive word-of-mouth referrals. Ron's unwavering dedication to his craft and commitment to customer satisfaction have positioned Show Me Custom Gifts as a trusted business partner for enterprises seeking to grow their revenue and achieve sustainable month-over-month growth. With two years of successful operation under his belt, Ron continues to prioritize his customers' success above all else.

In this episode, Ryan and Ron LaBeau discuss:

Navigating the shift from corporate job to entrepreneurship and balancing family life
Financial management tips for small business owners
Boosting profit margins with effective pricing, cost control, and product mix optimization
Tracking profit margins, reviewing product mix, and planning for the transition to entrepreneurship

Key Takeaways:

Transitioning from a corporate job to running a business can bring significant lifestyle adjustments and longer working hours for families, but it also provides opportunities to spend quality time with loved ones and pursue personal passions.
Ryan's guidance has helped Ron gain a better understanding of his business financials, including profit and loss statements and balance sheets, enabling him to make informed decisions and increase profits, despite having no prior knowledge in this area.
Regularly reviewing gross margins and seeking professional advice from an accountant or CFO can help business owners make informed decisions about their products and services, increase their profit margins, and avoid missed opportunities for growth.
To increase profits, business owners should track their profits, review their product mix using the 80/20 principle, and cut unprofitable products. Aspiring entrepreneurs should find their passion and plan for the next six months to prepare for starting their own business.

"Find something that you would enjoy doing every single day, because if you don't love your work, it's going to be a job." — Ron LaBeau

Connect with Ron LaBeau:

Website: https://showmecustomgifts.com/

Email: ron@showmecustomgifts.com

Phone: (314) 680-9225

YouTube: https://www.youtube.com/channel/UCr1HHnZxSctJyaq5bmJbZaQ

LinkedIn: https://www.linkedin.com/in/ronlabeau/

Facebook: https://www.facebook.com/showmecustomgifts

Instagram: https://www.instagram.com/showmecustomgifts/

Schedule your free 1:1 Profit Breakthrough Session with Ryan here: https://go.oncehub.com/profit

Connect with Ryan Kimler:

Net Profit CFO Home Page:www.netprofitcfo.com