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Leaky Bucket of ProfitsGet Off the Mouse WheelDo you feel like you are on a mouse wheel? You work hard everyday as the days, weeks and even years go by but don’t feel any further ahead. You work 60 to 70 hour per week fighting fires and haven’t had a day off in weeks because your business would unravel without you.
In this episode, Tony Malyk shares how to structure your business to reduce your stress and have more time for friends and family. Every business has five areas of accountability including: Sales, Marketing, Operations, Human Resources, Finance Administration. Depending on on the size of th...2020-07-2827 minLeaky Bucket of ProfitsKnow the Hidden Gems in Your Financial StatementsFor most business owners, reading financials statements is like trying to read a foreign language. You might understand the odd word but miss out on the real value of message being communicated. Just like a foreign language, most business owners understand some of the information on their financial statements such as sales and net profit but miss out on the “hidden gems” of valuable information that lies within them.
In this episode, Tony Malyk will make you feel like a financial whiz as he explains how to use your financial statements as a tool to identify the area...2020-07-2039 minLeaky Bucket of ProfitsBusiness Value - You Might Not Be as Rich as You Think!Business owners spend a lifetime building their business with the goal of selling it to fund a dream lifestyle and retirement. Far to often they are left disappointed when they find out that their business is worth twenty to fifty percent less than they thought, resulting in their retirement lifestyle being well short of expectations.
Business value is often based on a multiple of owner’s cash flow or profit which tends to be the owner’s main focus when building their business. However, there are several other factors besides financial performance that affects business value most busi...2020-07-0828 minLeaky Bucket of ProfitsEpisode 10: How to Unlock Cash in Your BusinessCash is King!! We have all heard this before, but what does it really mean? Having a good cash management strategy can mean the difference between making payroll, paying your suppliers or even yourself. Even profitable businesses can struggle with cash flow due to several factors such as not understanding the cash-gap, mismanaging accounts receivable, the invoicing cycle, poor planning and “just in case” management.
In this episode, Tony Malyk shares proven real life strategies on how to overcome the major causes of a cash-flow crunch. You will learn how to get money faster from customers, to plan...2020-03-1621 minLeaky Bucket of ProfitsEpisode 9: Stop Using Beer Case Metrics to Run Your BusinessStop being frustrated with your profits by understanding the story behind the numbers. Too many business owners rely on “beer case metrics” to know how they are doing. Does this sound familiar? You work hard all week and on Friday you collect your customers’ cheques so you can run down to the bank to make a deposit. You then run back to the office, pay your suppliers and employees, and if you have enough money left over for a case of beer you must be doing OK. In other words, you don’t measure anything and the only way to know...2020-03-0518 minLeaky Bucket of Profits8 Strategies to Turbocharge Your ProfitsGenerate more cash in your business by turbocharging your profits. By looking inside your business first, you don’t have to spend thousands of dollars in marketing to improve profits. Many businesses already have enough sales to be profitable, they just need to plug the profit holes that drain their business of cash and profits.
In this episode, Tony Malyk identifies the causes of low profits and shares eight strategies that can be implemented immediately to improve profits and increase cash flow. The strategies include (1) How to Successfully Increase Prices (2) Resist Discounting (3) Implementing Surcharges (4) How to Right Si...2020-02-2735 minLeaky Bucket of ProfitsBe a Sales WarriorBusinesses lose thousands of dollars of revenue every month because they blow the sale. A ton of money is spent on marketing. A customer finally responds only to have the sale go up in smoke when they say, “I’ll think about it”. To try and save the sale, discounts are often given resulting in lower profits and cash flow. Why does this happen? The answer is that most small business owners and their staff have no sales training. They “wing it”. The best way to maximize predictable results from leads generated by marketing is to have a sales system and...2020-02-1231 minLeaky Bucket of ProfitsEpisode 6: Build a Strong Marketing Foundation PodcastClick Here to Download Podcast
Stop wasting time and money on marketing. You pour tons of money into it expecting the phone to ring or customers to walk in the door only to be disappointed repeatedly when nothing happens. Marketing can work and generate sales growth if you take the time to build a strong marketing foundation.
The three pillars of a strong marketing foundation are (1) Dare to Declare Your Ideal Client (2) Craft a Laser Focused Message (3) Get Your Message to Your Ideal Client. In this episode, Tony Malyk explains how to identify your ideal...2020-02-0435 minLeaky Bucket of ProfitsEpisode 5: The Magic Profit FormulaEvery business owner wants to generate more cash and profits. They don’t know where to start and grow increasingly frustrated. It is hard to see the forest for the trees when you are in the middle of the forest. The “Magic Profit Formula” is a process that lifts the business owner above the forest so they can look down and see where the opportunities for improving their business exists.
The “Formula” has proven to help many business owners transform their business into cash-generating profit machines. It involves breaking the business down into individual steps such as lead gener...2020-01-2321 minLeaky Bucket of ProfitsEpisode 4: Know Your Communication DNAStrong communication skills are essential for effective leadership. The ability to motivate and inspire people to achieve goals, pursue the company’s vision and even correct undesirable behavior is centered around the leader’s ability to communicate. The communication gap is evident when we get frustrated with those who are “long winded”, too blunt or constantly fail to deliver on promises.
A communication model that is foundational to understanding others is DISC. An acronym for the four basic styles of communication, DISC, according to the author, stands for Director, Influencer, Steady Eddie and Compliance Officer. We all posses a...2020-01-1628 minLeaky Bucket of ProfitsEpisode 3: Empower Your Company with a Powerful Strategic PlanImagine if everyone in your organization showed up to work every day feeling passionate about their job and knew exactly what they needed to do to help your business succeed. Is this possible? Absolutely, when you have a powerful strategic plan.
In this episode, the author talks about how to Empower Your Company with a Powerful Strategic Plan, based on Chapter 3 of his book, Leaky Bucket of Profits. A strategic plan is a written document that clearly identifies what an organization wants to accomplish in the long-term. It starts with a seven to ten-year Vision Statement of...2020-01-0734 minLeaky Bucket of ProfitsEpisode 2 – Be a Dynamic LeaderChapter 2 of the book, “Leaky Bucket of Profits”, starts with the author, Tony Malyk, talking about the importance of strong leadership in an organization. He uses an example of how sports teams and corporations are willing to pay millions of dollars per year for a proven coach and CEO. Leadership can make or break an organization.
There are three levels of Leadership. They are: Lead Yourself, Lead Others and Lead Your Organization. Each level builds on each other with Lead Yourself as the foundation. It is imperative that a leader is well grounded by being self aware of his...2019-12-1828 minLeaky Bucket of ProfitsEpisode 1: Introduction & Build a Winning CultureTony Malyk, the Author of “Leaky Bucket of Profits”, shares the story behind the leaky bucket and covers Chapter One in the book, “Build a Winning Culture”.
It is important that the leader is clear on the type of culture that is desired for the business and takes purposeful action to drive that culture. The foundation to driving culture is to have a clear vision communicated through a Vision Statement and to back it up with a Mission Statement. Defining unwavering Core Values gives direction on the behaviors expected from the team. It is the leaders job to ensur...2019-12-0627 min