Looking for helpful feedback from two seasoned business consultants about a company's most critical resources? Join Eric Sarver, Esq., employment law and business law attorney, and his guests, Michael Gansl and Matt Plociak, founders of Voice of Reason Consulting as we discuss strategies for increasing sales, maintaining cash flow, and smooth interactions among the people of your business.
Tune in for this informative conversation at TalkRadio.nyc or watch the Facebook Livestream by clicking here.
Eric introduces his guest, Michal Gansl and Matt Plociak the founders of Voice of Reason Consulting. Michael is a founder of NETLAN and has been the leadership of five startups. Matt is an entrepreneur and author with 30 years of experience, started seven companies and is cofounder of NETLAN. He also has expertise in sales, operating and financial management. The two host a podcast called Mind Your Own Business with Mike and Matt on Apple Podcast. These men worked together at NETLAN for 15 years but maintained a strong friendship outside of work. Their journey towards the founding of Voice of Reason began when Matt called for Mike’s assistance in consulting a client. They realized that it would be best if they did this together, after all they ran a company together for 15 years. They are currently assisting business owners through this pandemic. Michael describes some of the challenges that he has seen businesses face in the beginning of the pandemic and how they were able to overcome it. People working in sales had to adjust to doing sales on Zoom and working in isolation, which demanded new skills.
Mike and Matt share how they would help companies that are having trouble closing sales during Covid. One of the things that they focus on is bringing marketing in the picture, it is important to differentiate between a marketing qualified lead or a sales qualified lead. Once they figure this out the business can begin targeting their audience appropriately. They also encourage management to have consistent training for the team so that the salesmen have the skills to identify a prospect and close a deal. Before the break, Matt lists the things that he believes an owner needs to know on a daily basis about their cash flow: How much cash is in the bank, how much they will collect this week, what their accounts in the foreseeable future will look like, and what this week's closing sales will look like. Those four things are critical for understanding what your cash flow looks like on a regular basis.
Eric presents them with a hypothetical about a company that took a hit in 2020, received a PPP Loan but they still don't have the means to pay their bills. Matt walks through how he would put together a weekly cash flow worksheet that will allow him to manage and document their expenses, calculate sales, and then calculate a bank balance. Depending on incoming sales/revenue, with the help of this worksheet a business may be able to manage their expenses and even time things so that they do not have to worry about a negative balance. The numbers should dictate the strategy.
Matt and Mike use a strategy that they call SWOT; strengths, weaknesses, opportunities, and threats. With this method, first they meet with the leadership team and define what strengths and weaknesses are endemic to the company. They will then look at how much they receive in revenue and how much they invest in marketing. They will take copious notes discussing their findings before putting together an action plan and tailor it to the business owners goals. You can seek their services on voiceofreasonconsulting.com. They can also be found on LinkedIn. Mind Your Business with Mike and Matt can be heard on Apple Podcast and Youtube.
00:00:40.050 --> 00:00:49.170 Eric Sarver, Esq.: Good evening, welcome to employ a lot today i'm your host erick solver i'm an employment law and business law attorney at the law office that are getting sober.
00:00:49.470 --> 00:00:58.230 Eric Sarver, Esq.: And I host this show on talk radio nyc every Tuesday night from 5pm to 6pm where I invite guests on the show to discuss.
00:00:58.560 --> 00:01:10.500 Eric Sarver, Esq.: The latest employment law issues and business law matters that are impacting companies and entrepreneurs during this difficult time of the pandemic and in that spirit today's topic.
00:01:10.920 --> 00:01:11.670 Eric Sarver, Esq.: will be on.
00:01:12.090 --> 00:01:30.060 Eric Sarver, Esq.: Sales cash flow and people, the most critical resources for your business joining me tonight to discuss this important topic are two colleagues and friends of mine, Michael ganzel and matt plus cx to partners in voice of reason consulting Mike and matt welcome to the show.
00:01:30.540 --> 00:01:32.910 Michael Gansl: Thank you so much, thank you great to be here.
00:01:33.240 --> 00:01:44.730 Eric Sarver, Esq.: Great great to have you both on I think I told you you're both my first time of having two guests on the show one time, so it should be interesting and enjoyable and also very important topic for our audience tonight.
00:01:46.500 --> 00:01:47.280 Eric Sarver, Esq.: Alright hey.
00:01:47.430 --> 00:01:55.200 Michael Gansl: that's great well you know you'll see that matt and I are always very different than there's always a point counterpoint, so I think will make for a live.
00:01:55.680 --> 00:01:56.550 Matt Plociak: One yeah.
00:01:56.910 --> 00:02:09.270 Eric Sarver, Esq.: I think so it's huge and i'm going I think so as well, so i'm going to introduce you to our audience and listeners tonight, Michael ganzel is a hands on entrepreneur and the season voice of reason.
00:02:09.930 --> 00:02:19.140 Eric Sarver, Esq.: To trademark there at voice of reason consulting voice music consulting is a business consulting firm specializing in working with small business owners.
00:02:19.470 --> 00:02:26.250 Eric Sarver, Esq.: And their teams to implement business development and revenue growth opportunities Michael is industry agnostic.
00:02:27.000 --> 00:02:37.290 Eric Sarver, Esq.: And works with companies which are privately held have annual revenues from small startups up to $25 million and are challenged to find solutions for problems that are holding them back.
00:02:38.040 --> 00:02:45.810 Eric Sarver, Esq.: And are searching for ways to take a quantum leap Michael has the real life experience to understand what businesses need to succeed.
00:02:46.200 --> 00:02:58.980 Eric Sarver, Esq.: He has been founder and run net land a leading systems integration company for 15 years and he grew to over $18 million in sales, with more than 75 people in several locations.
00:02:59.430 --> 00:03:08.790 Eric Sarver, Esq.: Michael is further been involved in the leadership of five startups as well as investment and commercial banking and that was quite an impressive background, I must say.
00:03:09.510 --> 00:03:11.670 Michael Gansl: Thank you so much it's great to hear.
00:03:13.140 --> 00:03:14.040 Michael Gansl: That really meet.
00:03:14.100 --> 00:03:15.360 Matt Plociak: All of you remember all that.
00:03:15.750 --> 00:03:16.800 Michael Gansl: I don't think so.
00:03:17.640 --> 00:03:24.540 Eric Sarver, Esq.: It did happen in your life, though it's happening, I should say, and on that I think it's equally impressive colleague of mine matt.
00:03:25.320 --> 00:03:36.660 Eric Sarver, Esq.: matt is a serial entrepreneur and author, with over 30 years of experience, having started seven companies, as well as having managed various small and large businesses, since 1981.
00:03:37.290 --> 00:03:44.760 Eric Sarver, Esq.: Man is a Co founder of net land a technology systems, integration and an Inc 500 company which he helped co lead.
00:03:45.150 --> 00:03:55.260 Eric Sarver, Esq.: and manage through 15 years of computer service industry changes culminated in a successful sale, the firm to a NASDAQ listed E commerce B2B company.
00:03:56.010 --> 00:04:07.080 Eric Sarver, Esq.: his skill set includes expertise in sales marketing operations and financial management and matt has also coach more than 50 companies be a peer groups for business owners.
00:04:07.470 --> 00:04:16.650 Eric Sarver, Esq.: Dealing with revenue expenses and staffing issues he is a Co founder and partners with Michael invoice music consulting a business consulting firm.
00:04:17.010 --> 00:04:23.370 Eric Sarver, Esq.: That together these two gentlemen have honed decades of experience to help businesses reach success for their consulting firm.
00:04:23.880 --> 00:04:39.240 Eric Sarver, Esq.: And they have their own video podcast or podcast entitled mind your own business with Mike and matt which appears on their YouTube channel as well, and I think at the very snappy title with an excellent pun there so so once again when I welcome you guys for me to the show.
00:04:39.630 --> 00:04:41.610 Eric Sarver, Esq.: I think you're right.
00:04:42.270 --> 00:04:50.850 Eric Sarver, Esq.: Great, so why don't we get into our topic here in more detail topic being sales cash flow and people, which are the most critical resources for your business.
00:04:51.510 --> 00:05:01.410 Eric Sarver, Esq.: And I think the most savvy business owners would agree on the importance of maintaining successful sales keeping cash flow consistent and stable.
00:05:01.800 --> 00:05:08.130 Eric Sarver, Esq.: and ensuring that your employees agents and clients maintain a good connection and clear communication.
00:05:08.760 --> 00:05:15.600 Eric Sarver, Esq.: Where business owners may struggle least, in my opinion, is in the how as an how to achieve such goals.
00:05:16.020 --> 00:05:23.100 Eric Sarver, Esq.: One major step is to gain clarity around your problem areas because you cannot solve a problem unless you can recognize it first.
00:05:23.910 --> 00:05:32.190 Eric Sarver, Esq.: So this episode Michael and that will share with me and we'll discuss their insights and suggestions as to ways that companies can improve.
00:05:32.910 --> 00:05:42.300 Eric Sarver, Esq.: Corporate sales performance plan business spending in ways that maintain their healthy cash flow, especially in light of PPP loans that might be coming in.
00:05:42.750 --> 00:05:53.760 Eric Sarver, Esq.: and improve productivity and performance among the workforce, including remote workers during coven so with that I wanted to ask you both a question feel free to jump in.
00:05:54.690 --> 00:06:03.330 Eric Sarver, Esq.: But, can you tell us more about voice of reason consulting and what inspired you to form the business and what are some of your products and services for clients.
00:06:03.630 --> 00:06:13.050 Michael Gansl: So you know matt and I had founded a net land in the mid in the mid 80s and sold it in 2000 and we'd work together, day and night 15 years.
00:06:13.320 --> 00:06:18.990 Michael Gansl: When we sold the company, we were still remain best of friends, we share a passion for food and wine and travel.
00:06:19.590 --> 00:06:27.840 Michael Gansl: And we really maintained a very strong social friendship and about 10 years after we both went are different ways.
00:06:28.230 --> 00:06:35.850 Michael Gansl: That doing some startups me doing some startups both of us doing just a variety of different things we both wound up consulting separately.
00:06:36.630 --> 00:06:45.240 Michael Gansl: And matt had a situation he was working the led led world with a CEO and said, you know Mike this guy really needs to talk to you.
00:06:46.020 --> 00:06:50.520 Michael Gansl: I said that's great started to talk to Douglas at the time and we realized.
00:06:51.030 --> 00:06:58.410 Michael Gansl: We could do this together, we didn't have to do it separately, we were so good as a team for those 15 years that we were growing the company, we just said hey.
00:06:58.800 --> 00:07:06.510 Michael Gansl: who's better than us to work together, we know each other's foibles we know how to yell at each other, we know we know how to laugh with one another.
00:07:07.440 --> 00:07:17.220 Michael Gansl: You know so actually at this point we've been business partners for over 25 years and i'd say that's a real testament to to be able to have a partnership.
00:07:18.690 --> 00:07:21.660 Matt Plociak: So you know Eric so you know we.
00:07:23.370 --> 00:07:33.300 Matt Plociak: He says, where Michael are both entrepreneurs business owners and have been involved in several startups so we really understand.
00:07:33.720 --> 00:07:42.720 Matt Plociak: The mentality of entrepreneurs and business owners it's not easy owning a business, and particularly if you're the sole owner, what do you have to talk to.
00:07:43.170 --> 00:08:04.200 Matt Plociak: Who do you have to bounce ideas off of, and one of the I think one of the main services we provide is to push our clients to actually make decisions because not making a decision is actually making a decision, because then you allow things to happen to you, instead of being proactive.
00:08:04.740 --> 00:08:05.370 Matt Plociak: Absolutely.
00:08:05.640 --> 00:08:25.800 Michael Gansl: You know the other day we were talking to a prospect, who was asking us, and he said, you know i've got such a niche business, you know why would I want to talk to you, to the two of you and my response was, you know as niche as that business is it still is revenue still expenses and.
00:08:27.240 --> 00:08:35.220 Michael Gansl: Tell me show me a business that exists that doesn't have those three common denominators and so he realized it's his job to.
00:08:35.610 --> 00:08:49.620 Michael Gansl: Absolutely know the niche it's our job to really understand how to run that business within that niche and so you know that's really we would that's what we focus on revenue expenses and people and helping people make decisions.
00:08:51.060 --> 00:08:55.740 Eric Sarver, Esq.: yeah you know I think you both cover some good points there about this, the idea that.
00:08:56.250 --> 00:09:08.070 Eric Sarver, Esq.: By like what matt said a moment ago about how not making the decision is making decision right it's deciding not to take an action, then, and then you're sort of a passive recipient of what happened, as opposed to being more.
00:09:09.300 --> 00:09:17.730 Eric Sarver, Esq.: I guess having some saving more in control of your faith so that's we all can be so it's also good to hear that you have this rich friendship and background together.
00:09:18.060 --> 00:09:25.770 Eric Sarver, Esq.: I mean i've always thought i've worked with clients of mine that have partnerships and i've noticed that with as a experience working together.
00:09:26.340 --> 00:09:40.380 Eric Sarver, Esq.: For a long time in even in some other area, it can translate very well so i'm really glad that you guys i'm a subject in the first place, and then be reconnected and are here today with your with voice of reason consulting.
00:09:41.640 --> 00:09:57.420 Eric Sarver, Esq.: I wanted to ask you, Michael a question just you regarding you're talking about sales cash flow and people so i'm wondering well, what are the main problems that you see companies struggle with regarding their sales force and how is the pandemic impacted these problems.
00:09:58.470 --> 00:10:06.390 Michael Gansl: Well, you know it's fascinating in the first few months of the pandemic so starting from march through May.
00:10:07.050 --> 00:10:14.610 Michael Gansl: Sales people were incredibly once I felt the sales people that I was working within the various companies were actually.
00:10:15.030 --> 00:10:23.250 Michael Gansl: Quite concerned that they would be too salesy if they were calling their clients and basically looking for business.
00:10:24.000 --> 00:10:36.210 Michael Gansl: know we really had to get past that hurdle of you know, this was at that time March, April may it was a lot of people going out of business and so being a salesperson and making that call they were quite reluctant.
00:10:36.630 --> 00:10:47.400 Michael Gansl: But the really the way we overcame that and the way to overcome that is it wasn't a question of looking for a sale, it was what Could you provide to that.
00:10:47.670 --> 00:10:54.000 Michael Gansl: client to that prospect what Could you provide to them what piece of information, how could you actually help them.
00:10:54.270 --> 00:11:04.140 Michael Gansl: And so we got past the reluctance by realizing we could be of help it didn't have to ask for anything we could be the giver and, eventually, you know.
00:11:04.530 --> 00:11:15.720 Michael Gansl: Sales of course they can become the taker, but you have to be first the giver, on the other part, was zoom selling a whole nother set of skills right, you know.
00:11:17.220 --> 00:11:27.780 Michael Gansl: Being on screen very different from being face to face, and it really required a quite a bit of change, how do you dress what's your background like what's your lighting like.
00:11:28.290 --> 00:11:42.120 Michael Gansl: know there are many people right now that are talking all about that, but definitely confidence is really important into the sales picture and so that was another learning experience, how do you perform on soon from.
00:11:44.040 --> 00:11:45.810 Michael Gansl: Another thing was working in isolation.
00:11:47.100 --> 00:11:56.520 Michael Gansl: You know, not everyone is great and working without an isolation typically we always felt that a salesperson would be successful because of the team.
00:11:56.850 --> 00:12:01.530 Michael Gansl: You know, there was no I in team, but now here you are remote and there's plenty of I.
00:12:02.130 --> 00:12:13.590 Michael Gansl: Because you're isolated, and so the issue for management at this point was how do you reach out to your salesperson, how do you deal with the fact that they're isolated, how do you deal with the fact that they're a moat.
00:12:15.060 --> 00:12:21.840 Michael Gansl: And so that really was a challenge for companies to basically establish some mechanism weekly meetings.
00:12:22.770 --> 00:12:41.010 Michael Gansl: Not just subject matter training sessions, but real training sessions on how to sell again in this new modality and, of course, how to keep everybody accountable so yeah it was the pandemic is definitely impacted on the sales process and how people sell.
00:12:42.600 --> 00:12:51.750 Eric Sarver, Esq.: Yes, and it's interesting Michael because i've heard everything you're describing that you guys addressed with your clients and your consulting.
00:12:52.110 --> 00:13:01.650 Eric Sarver, Esq.: i've heard around the last year for many colleagues and networking circles, I know we're all in network network together and heard people share these these very issues.
00:13:02.730 --> 00:13:08.190 Eric Sarver, Esq.: I appreciate what you said about just the fact that not everyone works well in isolation, I know many colleagues.
00:13:08.610 --> 00:13:17.970 Eric Sarver, Esq.: Who are solo attorneys like myself and some thrive in being alone and others thrive around people I tend to thrive from people you know I want to be.
00:13:18.330 --> 00:13:23.070 Eric Sarver, Esq.: With folks that I can bounce things off positions you were saying so I can imagine how.
00:13:23.730 --> 00:13:33.270 Eric Sarver, Esq.: recognizing that, along with the changes like zoom as opposed to in person, it really is different, I mean even just the eye contact in the camera.
00:13:33.900 --> 00:13:39.690 Eric Sarver, Esq.: So it sounds to me like you had a lot of and then last thing I heard was about switching the focus towards service.
00:13:40.170 --> 00:13:57.090 Eric Sarver, Esq.: And in that mindset, because I think if you have a certain mindset, it can truly impact, how you come across on the phone or on zoom so good to hear some concrete examples of problems you saw it, I also heard some solutions in there as well, in terms of things you've coached people on.
00:13:58.200 --> 00:14:02.580 Eric Sarver, Esq.: So I appreciate that and I wanted to run through a scenario with you.
00:14:03.900 --> 00:14:11.160 Eric Sarver, Esq.: Actually I think we're coming up on a commercial breaks, maybe I can read the scenario now and then we can run through it after the break and that way we're not.
00:14:11.580 --> 00:14:21.090 Eric Sarver, Esq.: Starting it, but before, but the scenario would be that sometimes it helps people I think your solution for a fact pattern so i'm wondering if we have this scenario number one.
00:14:21.960 --> 00:14:35.760 Eric Sarver, Esq.: That I came up with your company called them sell me some more Inc is a small company with 150 employees in the field of it's a property and casualty insurance and their prior sales model.
00:14:37.050 --> 00:14:46.650 Eric Sarver, Esq.: Say involve sales people making in person lunches meetings and social social outings with prospective clients and that's about 50% of the time.
00:14:47.460 --> 00:14:50.850 Eric Sarver, Esq.: And the other half the time they devoted to cold calls and social media outreach.
00:14:51.270 --> 00:14:56.250 Eric Sarver, Esq.: And this is kind of interesting because it keeps the scenario it's kind of what you were talking about a moment ago, Michael.
00:14:56.640 --> 00:15:05.610 Eric Sarver, Esq.: But now in the past year is that say suppose sell the dropping 40% 40% drop off in sales, despite the industry activity not dropping by that much.
00:15:06.120 --> 00:15:13.380 Eric Sarver, Esq.: And so, during a sales team meeting on zoom each person each salesperson says hey the naked on the cold calls during all those zoom meetings.
00:15:13.770 --> 00:15:20.370 Eric Sarver, Esq.: They cannot seem to close on a projected sales like they used to pre coven so it's basically it's just.
00:15:21.060 --> 00:15:30.150 Eric Sarver, Esq.: having trouble closing sales doing it remotely and how would you troubleshoot this situation, what would you look for what solutions might you offer.
00:15:30.480 --> 00:15:47.520 Eric Sarver, Esq.: And before you gentlemen answer that I want to say that we need to take a break so it's perfect timing so folks i'm Eric Sava hosted employment law today here tonight with Michael ganzel and that plus cx of voice of reason consulting stick around we'll be right back.
00:18:44.580 --> 00:18:53.460 Eric Sarver, Esq.: Welcome back to employment law today i'm your host erick solder you're on talk radio, am I see here today with my guest Michael gans on that puts you back.
00:18:53.940 --> 00:19:08.190 Eric Sarver, Esq.: To long standing business partners who are the partners and founders of voice of reason consulting and so prior to the commercial I gave that hypothetical scenario that I think a lot of listeners tonight.
00:19:08.700 --> 00:19:22.350 Eric Sarver, Esq.: might be able to relate to if you're a company or small business, and you have cells and the cells have been dropping during covered trouble closing so i'm wondering, for both you gentlemen matt and Mike are, how would you troubleshoot that situation.
00:19:24.000 --> 00:19:26.190 Michael Gansl: That you want me to take a crack At first I.
00:19:26.460 --> 00:19:27.990 Matt Plociak: want to go first and then.
00:19:29.670 --> 00:19:29.850 Matt Plociak: To.
00:19:30.240 --> 00:19:36.210 Michael Gansl: be a perfect example of this is a perfect example of point counterpoint because actually our clients have.
00:19:36.690 --> 00:19:46.530 Michael Gansl: Come to actually enjoy the fact that i'll say one thing and that won't agree and then i'll disagree and he won't he'll disagree and get a real good show, but in the end.
00:19:47.160 --> 00:19:55.830 Michael Gansl: they'll find that it's great to have at least those two opinions in the room, so that the topic that you know the scenario is not a simple one.
00:19:56.190 --> 00:20:00.540 Michael Gansl: So the first thing I would start with is I really want to bring marketing into the picture.
00:20:01.320 --> 00:20:10.680 Michael Gansl: And I really want to talk about what's a marketing qualified lead and what's a sales qualified lead, because you know, in reality here.
00:20:11.670 --> 00:20:23.940 Michael Gansl: Obviously, things change sales dropped 50% and the sales people cold cold became an issue etc so really the issue, it comes down to is is marketing getting.
00:20:24.390 --> 00:20:27.210 Michael Gansl: Qualified leads for sales people to follow up on.
00:20:27.510 --> 00:20:35.100 Michael Gansl: It are they integrated do they do, they know what the target is and are they reaching for the same target, so I think the first thing to do.
00:20:35.250 --> 00:20:40.410 Michael Gansl: it's really good for your marketing teams you've got a company big enough with 150 employees, they definitely have a marketing team.
00:20:40.650 --> 00:20:48.870 Michael Gansl: got to get your marketing team in your sales team in and you really have to develop what we call the buyer persona which is basically, who is the target.
00:20:49.350 --> 00:21:00.510 Michael Gansl: And then really go after the target appropriately now when it comes to this so now let's put it on sales let's assume that marketing is delivering.
00:21:01.500 --> 00:21:12.120 Michael Gansl: Qualified leads okay now qualified will put into kind of like quotes, it is now the salesman's job to really qualify that lead to become a prospect.
00:21:12.510 --> 00:21:19.590 Michael Gansl: What does that mean that means that there are four basic elements in this in identifying a prospect there's an aim.
00:21:20.100 --> 00:21:25.260 Michael Gansl: Which is an emotionally compelling reason to act to change there's what's the timeframe.
00:21:26.010 --> 00:21:34.800 Michael Gansl: there's the budget, and then there is, what is the decision making process, not necessarily the decision maker, but how our decisions made new organization.
00:21:35.280 --> 00:21:46.290 Michael Gansl: If we want to increase the ability of our sales people to close really got to get them to understand that sales process in terms of identifying, who is a real prospect and who isn't.
00:21:46.860 --> 00:21:54.120 Michael Gansl: And we often talk about we have this concept, called the goal for the note, which means that matt you know what the goal for the know is.
00:21:55.770 --> 00:22:04.170 Matt Plociak: Your you're the faster you get to either yes or no, the faster, you should reduce the sales cycle.
00:22:04.470 --> 00:22:14.280 Michael Gansl: Exactly because the most important element in the sales process is each salesperson has a limited amount of time we time is finite not infinite.
00:22:14.640 --> 00:22:19.050 Michael Gansl: And so the faster, you can get to whether you've qualified your prospect.
00:22:20.010 --> 00:22:27.930 Michael Gansl: board the ability to have to close that prospect, or to go on to other prospects, who you can close so training is really important.
00:22:28.470 --> 00:22:41.400 Michael Gansl: Waiting marketing and sales training and then training is not a one time thing it's repetition repetition repetition so it's up to management to basically have consistent training.
00:22:42.480 --> 00:22:59.970 Michael Gansl: On subject matter, whatever the product or the services you're selling and then the actual how to sell which is critical, so now, one of the most important things is holding people accountable very good, so I often like the development of a scorecard.
00:23:01.020 --> 00:23:09.900 Michael Gansl: And scorecard basically is, you know how many times how many calls how many dials if you made, how many calls have you made, how many emails have you may you know how many.
00:23:10.650 --> 00:23:18.450 Michael Gansl: conversations you had with referral partners basically it's up to the sales management leadership the basically have a scorecard and.
00:23:18.840 --> 00:23:20.190 Michael Gansl: One on the team accountable.
00:23:20.490 --> 00:23:30.660 Michael Gansl: As well as a total team, and you can set all kinds of incentives, you know, earlier we talked about isolation working remotely Well, this is a great way to build the team build a scorecard.
00:23:30.990 --> 00:23:42.840 Michael Gansl: And not just focus on the individuals but focus on the totality of the team's performance So those are some things that I would basically talk to in in this scenario matt.
00:23:44.010 --> 00:23:44.400 Matt Plociak: well.
00:23:44.490 --> 00:23:47.790 Matt Plociak: As as Michael you know i'm i'm a very big metrics guy.
00:23:48.330 --> 00:23:48.930 So.
00:23:50.160 --> 00:23:56.460 Matt Plociak: You know, with a company that's been in business for a while, has some idea of.
00:23:57.690 --> 00:24:11.130 Matt Plociak: What a close ratio is so let's let's, for instance, if they if they sent out 100 proposals, maybe they're getting 25 or 30 of those closed so.
00:24:11.670 --> 00:24:21.420 Matt Plociak: And then you work backwards if I sent out 25 proposals, how many meetings do I have to have either zoom or in person, how many phone calls do I have to have.
00:24:21.990 --> 00:24:34.290 Matt Plociak: How many prospects, do I have to have to get those number of meetings and how many marketing leads Do I need to get those number of prospects, so I think tracking those and seeing maybe.
00:24:35.640 --> 00:24:47.340 Matt Plociak: Maybe some of those ratios have changed because of covert and then you may have to adjust your strategy, maybe Maybe you can only close 10.
00:24:48.180 --> 00:25:08.610 Matt Plociak: Proposals out of 100 now so instead of needing 25 you need you know almost three times as much to get the same level of sales, so I think, looking at the historical and current metrics are critical to figure out what what's the problem and where the fiction be.
00:25:10.530 --> 00:25:22.560 Eric Sarver, Esq.: Interesting I mean one thing I hear an agreement both you have to do with specifics right getting into the details getting clarity getting clear on what someone's performances and what categories and.
00:25:23.490 --> 00:25:29.910 Eric Sarver, Esq.: I definitely liked the idea of like sort of taking what's known and working backwards, but also acknowledging that.
00:25:30.540 --> 00:25:42.510 Eric Sarver, Esq.: we're a different environment now, so the old metrics are the old methods right they used to work, they may work great in 2018 2019 but 2020 and it looks like trunk of 2021.
00:25:43.200 --> 00:25:50.670 Eric Sarver, Esq.: might be different games, so if you have a different game different rules, maybe different things to look at is interesting it's a good.
00:25:52.020 --> 00:26:03.660 Eric Sarver, Esq.: response there and Michael to your your points just kind of what came to mind for me was the idea of making it a team effort so that the people are connected it kind of built in incentive.
00:26:04.830 --> 00:26:18.900 Eric Sarver, Esq.: All things that I think I hope our audience can relate to, and I know for one know that just seeing how business is changing the pandemic has forced me to interact with my clients in different ways, more zoom calls more.
00:26:19.560 --> 00:26:25.740 Eric Sarver, Esq.: Video or Microsoft teams and phone, so I appreciate what you're saying and Michael did you have something you're about to.
00:26:25.920 --> 00:26:31.230 Michael Gansl: I wanted to add one more technique that was really very works tremendously is.
00:26:31.350 --> 00:26:32.130 Michael Gansl: role playing.
00:26:32.340 --> 00:26:41.130 Michael Gansl: role playing in the sales process, you know i've been working with cold callers recently and we've we've had the CMO.
00:26:41.760 --> 00:26:54.960 Michael Gansl: Basically, be the prospect and the cold call be the salesperson and Oh, but what we did was we changed it around we made the CMO the cold caller and we made a cold call or the prospect.
00:26:55.440 --> 00:27:04.680 Michael Gansl: And you can really see how dramatically that changed the role playing and so it's a very effective technique and, in particular with sales teams that are working remotely.
00:27:05.220 --> 00:27:15.360 Michael Gansl: And courses i've talked about having sales training role playing is very effective and it's been it's been working quite well during the pandemic for some of our clients.
00:27:17.040 --> 00:27:17.370 Eric Sarver, Esq.: wow.
00:27:18.960 --> 00:27:24.870 Eric Sarver, Esq.: sounds just mentioning stuff there i've heard, incidentally, that last point, Michael i've heard that a lot of actors when they're.
00:27:25.230 --> 00:27:33.720 Eric Sarver, Esq.: Creating scenes for a movie or show sometimes they'll actually have an actor let's say switch the rolls up, and so one person will play the other role and and they'll go back and then.
00:27:34.020 --> 00:27:39.780 Eric Sarver, Esq.: It gives us perspective of what the other person, on the other side is experiencing, I know, often the law.
00:27:39.780 --> 00:27:41.340 Eric Sarver, Esq.: We will practice our arguments by.
00:27:41.790 --> 00:27:47.190 Eric Sarver, Esq.: tending to be the other side, the opposing silence and make their arguments and then we'll counter it with.
00:27:47.790 --> 00:27:59.490 Eric Sarver, Esq.: Whether it's enough counselor partner and co counsel, on the case so so I appreciate this says a great thorough answer there that I hope, people are you know good takeaways from and it makes you want to ask more questions of you, gentlemen.
00:27:59.610 --> 00:28:16.200 Eric Sarver, Esq.: I think we're all here if i'm a great um so this question is for matt if I can, can you tell us matt some of the perhaps the biggest problems companies have with men to maintain their cash flow in a consistent way and a.
00:28:17.700 --> 00:28:32.730 Matt Plociak: couple of minutes away from our break but i'm just telling you there's there's three or four things that I believe every owner needs to know on a daily basis regarding cash flow he needs to know how much cash is in the bank.
00:28:34.680 --> 00:28:39.420 Matt Plociak: How much is he going to collect this week, not this month this week.
00:28:40.560 --> 00:28:44.340 Matt Plociak: And you know I don't know is not an acceptable answer.
00:28:45.990 --> 00:28:47.250 Matt Plociak: What my.
00:28:48.570 --> 00:28:52.560 Matt Plociak: What what my accounts receivable look like.
00:28:53.730 --> 00:29:12.690 Matt Plociak: And what i'm what are this week sales closing kind of look like and those four things are critical to understanding and knowing what your cash flow is on a weekly basis, because you must know on a weekly basis because rent.
00:29:14.520 --> 00:29:27.240 Matt Plociak: payroll insurance payments are due on a certain date it's not about on the 15th it's on the 15th if you don't have $25,000 for payroll on the 15th your people don't get paid.
00:29:28.650 --> 00:29:29.940 Michael Gansl: And you don't want to do that.
00:29:30.450 --> 00:29:33.180 Matt Plociak: And you don't want to do that right.
00:29:33.630 --> 00:29:40.050 Eric Sarver, Esq.: You know I love to hear more about that and other questions and maybe perhaps our vertical as well matt, thank you for that.
00:29:40.410 --> 00:29:45.750 Eric Sarver, Esq.: answer I hear some good clarity and just the idea of the importance of your clients getting clear.
00:29:46.230 --> 00:30:00.270 Eric Sarver, Esq.: that's right take away part um, we have to think commercial breaks so i'm Eric server hosting pamela today i'm also a business loan employment law attorney representing companies in business owners and i'm here with Mike damsel and that.
00:30:01.770 --> 00:30:06.120 Eric Sarver, Esq.: The two partners and voice of reason consulting stick around we'll be right back.
00:32:52.740 --> 00:33:03.930 Eric Sarver, Esq.: Welcome back to employment law today i'm here with my guest tonight, Michael ganzel and matt plus cx from voice of reason consulting and right before the break I have.
00:33:04.530 --> 00:33:20.460 Eric Sarver, Esq.: A question I would like to get time to give their answer in full the question I asked matt was about the biggest problem that companies are having with their maintain that cash flow in a consistent way and matt did you want to ask them in your answers.
00:33:20.760 --> 00:33:28.740 Matt Plociak: So I want to just elaborate a little bit about how one can set up a relatively simple cash flow sheet.
00:33:29.040 --> 00:33:37.860 Michael Gansl: I think that if you wait for the scenario I think you'd be better off with that, I think, maybe just repeat those four things because those are really critical things.
00:33:38.010 --> 00:33:38.970 Matt Plociak: Sure, so.
00:33:40.080 --> 00:33:47.520 Matt Plociak: The four critical areas that I believe an owner needs to know on a daily basis, is how much cash in the bank.
00:33:49.020 --> 00:33:57.270 Matt Plociak: How much is being collected this week from receivable so knowing what your accounts receivable status is.
00:33:58.560 --> 00:34:16.140 Matt Plociak: What items, you are closing this week and what cash is coming in from those sales and then, of course, what bills that have to get paid this week right that's the outflow so you need to know what that is as well i'm.
00:34:17.040 --> 00:34:27.300 Eric Sarver, Esq.: thinking that at all I think things that business owner can do even uncertain times they could not much cash to have in the bank, they can know what to do to go out, yes, as for cash flow.
00:34:28.710 --> 00:34:36.900 Eric Sarver, Esq.: It actually brings you perhaps to another hypothetical for you gentlemen Mike i'm mad to troubleshoot if we can.
00:34:37.920 --> 00:34:39.840 Eric Sarver, Esq.: Are we ready for another hypothetical here.
00:34:40.170 --> 00:34:44.610 Michael Gansl: yeah it's just one more thing I wanted to make sure that matt said this earlier and just repeat it.
00:34:45.330 --> 00:34:46.410 Michael Gansl: I don't know.
00:34:47.190 --> 00:34:49.320 Michael Gansl: it's not an acceptable answer.
00:34:51.300 --> 00:34:57.300 Matt Plociak: Sometimes you wonder if I ask an owner, how much you collect in this week, they say I don't know.
00:34:59.520 --> 00:35:01.500 Matt Plociak: You can't run a business with I don't know.
00:35:02.100 --> 00:35:13.800 Eric Sarver, Esq.: Right it comes back to your point we all talked about earlier in the thing about clarity right, you have to have clarity get to know what the problem is, be able to solve it, and if you don't have the details, you know you can't go to your bookkeeper and say.
00:35:14.850 --> 00:35:23.580 Eric Sarver, Esq.: i'm not sure what the number is but guests, you know round out so good good good point there really to make, let me walk you both through a scenario scenario, if I may.
00:35:24.570 --> 00:35:31.830 Eric Sarver, Esq.: Say Okay, I think another company called let's say low endo Inc a technology startup with 20 full time employees.
00:35:32.370 --> 00:35:37.500 Eric Sarver, Esq.: So suppose they're providing marketing analytics and advertising to them for their clients.
00:35:38.040 --> 00:35:43.410 Eric Sarver, Esq.: And let's say the compensation is set up, so that they receive say one third of that fee up front.
00:35:43.860 --> 00:35:57.300 Eric Sarver, Esq.: And then the rest of the money they get when they complete their clients marketing campaign or marketing analytics use you then three to six months from the time of the upfront fee i've represented several tech companies over the years i've seen this model and action.
00:35:57.600 --> 00:36:02.250 Eric Sarver, Esq.: you've seen as opposed to Oh, you have as well okay great so as opposed to company.
00:36:03.000 --> 00:36:10.770 Eric Sarver, Esq.: has often struggle with cash flow they come to you guys to say Mike matt you know it seems like at the Midway mark between that first payment.
00:36:11.070 --> 00:36:17.160 Eric Sarver, Esq.: And the end of the project payout were flush with cash or a couple of weeks, and then after expenses are paid.
00:36:17.790 --> 00:36:29.220 Eric Sarver, Esq.: We don't have any cash in hand to pay the bills on time so suppose this company now it's like a large hit 2020 and then they applied for and got PPP loan assistance, maybe they receive say $200,000.
00:36:30.450 --> 00:36:43.050 Eric Sarver, Esq.: And they find themselves still struggling with too little cash on hand at the end of certain month to pay the bills so i'm wondering that's that affects how might you approach this company to help them solve this problem.
00:36:44.130 --> 00:36:52.770 Matt Plociak: Well, the first thing I would do is to help them, create a weekly cash flow sheet so basically.
00:36:54.240 --> 00:37:03.060 Matt Plociak: it's quite simple, we, the first part of the sheet at the top, starting from the top, you released your clients right.
00:37:04.080 --> 00:37:14.160 Matt Plociak: You have every I like to do it, you can do it from either whatever day of the week, you want, but i'd like to start every day a week of the.
00:37:14.850 --> 00:37:30.180 Matt Plociak: Monday is the first week first of the week right so across the top every column is this week next week, the week after etc going out, you know, at least at least a couple of months.
00:37:31.470 --> 00:37:45.870 Matt Plociak: And you know the further out you go the more of it it's a guesstimate but it's better than nothing so So what we do is we list the clients for the in the first several rows and when.
00:37:47.550 --> 00:37:53.970 Matt Plociak: When do I expect to get payment from those clients this month now, which week is it coming in.
00:37:55.350 --> 00:38:01.050 Matt Plociak: Right and then at the end of each week I have a total of how much cash is coming in.
00:38:02.310 --> 00:38:20.220 Matt Plociak: And then i've got what my expenses are going out is it payroll is insurance payments, maybe rent etc I got accounts payable etc, and I like to put those as a negative number in red So you see as outflow.
00:38:21.750 --> 00:38:28.110 Matt Plociak: The money coming in, is in black and it is one coming in and then at the end.
00:38:29.400 --> 00:38:39.570 Matt Plociak: of every week I had total up all of the outcome, so we do have some of the the rows that are the expenses.
00:38:40.860 --> 00:38:53.820 Matt Plociak: Then we have a number that's cold cash in bank at the beginning of the week so Monday morning I got $10,000 that goes into that row for that particular week.
00:38:54.510 --> 00:39:13.590 Matt Plociak: And then, so I then I then this what the sheet does is add the money coming in that week subtract the expenses plus when I started in the bank and that's my bank balance now and that goes that flows through the sheet let's say just for two months so.
00:39:15.030 --> 00:39:26.880 Matt Plociak: You once you do that let's just do it for a month, once you do it for a month, you may find that there's a week or two, where the Bank or the cash balances negative.
00:39:28.230 --> 00:39:37.860 Matt Plociak: is obviously not a good thing, so you either have to move some expenses to a different week collect more money make more sales.
00:39:39.000 --> 00:39:43.140 Matt Plociak: borrow money or put money out of your pocket into the business.
00:39:44.700 --> 00:39:45.720 Matt Plociak: One of those things.
00:39:45.780 --> 00:39:53.910 Michael Gansl: This is a perfect example, this is a perfect example of whether the numbers dictate the strategy or the strategy dictate the numbers.
00:39:54.120 --> 00:39:54.480 Eric Sarver, Esq.: Rather than.
00:39:54.690 --> 00:39:56.460 Michael Gansl: always have a debate about that, but I.
00:39:56.460 --> 00:40:03.240 Michael Gansl: Think with this with the level of clarity that matt has presented about doing a weekly cash flow worksheet.
00:40:03.540 --> 00:40:14.040 Michael Gansl: You see that, in this particular case from a pure tactics, the numbers are actually dictating strategy right so.
00:40:14.130 --> 00:40:25.020 Eric Sarver, Esq.: Interesting I typically too, because I wonder if the if the sheets may change let's say you have an expected payment is doing and then all sudden it just doesn't come in, or balances.
00:40:25.440 --> 00:40:30.240 Eric Sarver, Esq.: That, I guess, but then but that's that mentioned a moment ago matt about requiring let's say UK.
00:40:31.980 --> 00:40:37.260 Matt Plociak: you'll have to make some decisions right of what needs to happen, so in this particular case.
00:40:37.410 --> 00:40:38.310 Matt Plociak: yeah um.
00:40:39.750 --> 00:40:51.420 Matt Plociak: One of the things I would recommend is a some type of progress payment between the time they get the deposit and then finally finish a project.
00:40:52.560 --> 00:41:02.610 Matt Plociak: Because it's not easy to run a business if you've you know if a project last three to six months, you know it's very difficult.
00:41:04.230 --> 00:41:09.090 Matt Plociak: To run the business that way, unless you just have a big pile of cash sitting in the bank.
00:41:09.480 --> 00:41:11.340 Michael Gansl: Now, one of the things that I would recommend.
00:41:12.870 --> 00:41:19.830 Michael Gansl: is to change the feet, the up free the upfront fee I would increase that 50%.
00:41:20.430 --> 00:41:26.520 Michael Gansl: And you know, and so I know you get a lot of we've we've made this recommendation to clients exactly in this situation.
00:41:26.820 --> 00:41:36.090 Michael Gansl: And we do get a lot of pushback well I don't know they're not going to give us 50%, but what we say, is there are those who will give you the 50% and there were those who won't.
00:41:36.390 --> 00:41:43.980 Michael Gansl: what's to stop you from asking for those will and so that's one of the ways, you can alleviate this here is money upfront.
00:41:44.580 --> 00:41:51.540 Michael Gansl: Sure, the I mean again there's also you can change make this more milestone payments.
00:41:51.690 --> 00:42:04.530 Michael Gansl: So you can say that you know if we achieve a certain result in X period of time we've got a payment so on and so forth, so you doesn't have to be one third just up front, it can be a variety different ways.
00:42:06.420 --> 00:42:18.900 Eric Sarver, Esq.: it's interesting you know, to me it goes back to that question of numbers dictate strategy, the strategy dictate numbers, or are they really interconnected cycle that flow into each other and there was some degree and i'm kind of hearing the latter maybe that's the.
00:42:19.590 --> 00:42:33.150 Matt Plociak: same thing, so the what you know what happens in numbers really are telling you what the constraints are so you know if you're a if you're a million dollar business it's unlikely you're going to be able to spend $500,000 on marketing.
00:42:34.650 --> 00:42:37.080 Matt Plociak: You might be able to spend 100,000 on marketing.
00:42:37.560 --> 00:42:44.250 Matt Plociak: Right, you know that's gonna get you only X amount of response right.
00:42:45.060 --> 00:42:53.610 Eric Sarver, Esq.: Right, I mean this is really to me I think it's not it's a i'm sure initiative comes up a lot with Cobra but it's been a long.
00:42:54.060 --> 00:43:04.530 Eric Sarver, Esq.: Time issue i've witnessed with everything from colleagues or clients or friends, you know I had a friend, many years ago in 2000 was working for a.com and.
00:43:05.400 --> 00:43:13.560 Eric Sarver, Esq.: They were in the.com bubble before burst and they were spending like crazy the company and my friend predicted that you know, this is not going to be a good thing.
00:43:14.850 --> 00:43:21.300 Eric Sarver, Esq.: Unfortunately right the company went bankrupt, but I think it goes to that point that people need outside.
00:43:21.870 --> 00:43:30.030 Eric Sarver, Esq.: influence or i'm sorry I should say more like consulting outside guidance to look in right to that sort of like take an aerial view and look down and say okay.
00:43:30.510 --> 00:43:40.620 Eric Sarver, Esq.: let's not get too stuck in one way of doing things let's reconsider how we charge or to the you consider if we're sounding too salesy if we just.
00:43:41.190 --> 00:43:49.170 Eric Sarver, Esq.: Go for something you know, so I think really good responses there, and you know we are coming up on a commercial break, so perhaps this might be a good.
00:43:49.830 --> 00:43:57.210 Eric Sarver, Esq.: time for break when they come we come back i'll be here Eric solver so your hosts still employment law business on attorney.
00:43:57.600 --> 00:44:09.030 Eric Sarver, Esq.: At the last Eric i'm solver and i'll be here with my colleagues and friends Michael ganzel and that puts you back from voice of reason consulting so everybody stick around we'll be right back.
00:46:25.260 --> 00:46:33.330 Eric Sarver, Esq.: Welcome back to employment law today i'm your host erick solver and are here tonight with my hands on that plus cx from.
00:46:34.530 --> 00:46:46.770 Eric Sarver, Esq.: voice of reason consulting and I should note that our topic tonight we've been discussing so far has to do with sales, capital and people, the most critical resources for your business and so.
00:46:47.820 --> 00:46:55.740 Eric Sarver, Esq.: matt Mike I just want to say you know it's clear that you guys love what you do I know you mentioned that and it shows and really appreciate this and.
00:46:56.340 --> 00:47:03.120 Eric Sarver, Esq.: All the feedback you're giving for our audience tonight people listening or entrepreneurs or small business big business.
00:47:03.660 --> 00:47:15.210 Eric Sarver, Esq.: it's all good stuff so with that of what do we do a third and final scenario I would love to do five more, but the time constraints are such that we can maybe do a third of that works for you can we do one more.
00:47:15.360 --> 00:47:17.910 Michael Gansl: yeah we'd love this one what sure.
00:47:18.000 --> 00:47:27.960 Eric Sarver, Esq.: Okay, so this would be the i've heard about your approach to working with clients and starting your engagement with as makes called it, I suppose you'd call this man to a SWOT.
00:47:28.950 --> 00:47:40.110 Eric Sarver, Esq.: sort of analysis of your strengths weaknesses opportunities and threats, so I was taking a scenario that our audience would like to hear how a SWAT works and maybe there's also you can achieve.
00:47:41.220 --> 00:47:52.770 Eric Sarver, Esq.: let's say it's a moving and storage company say really is moving and storage and they're a small company with 25 employees who are movers foreman project managers and a warehouse staff.
00:47:53.760 --> 00:48:02.130 Eric Sarver, Esq.: And they also have a small leadership team, which is Ray right along time salesperson is also a relative of.
00:48:03.780 --> 00:48:14.220 Eric Sarver, Esq.: Marketing administrator and let's say Ray was formerly a mover and so he knows the trade he understands the business and he has excellent accounts, he has a good reputation.
00:48:14.940 --> 00:48:20.940 Eric Sarver, Esq.: he's willing to invest in the business but it just can't seem to grow it on his own he just can't seem to make the business grow.
00:48:21.780 --> 00:48:34.500 Eric Sarver, Esq.: So let's say you guys met Ray and networking events and you start a conversation, and he talks about this and you say hey I got this SWAT engagement with you, can you tell our audience what happens at a SWAT what happens next.
00:48:34.920 --> 00:48:42.570 Michael Gansl: Sure, so in a SWOT basically will meet with the leadership team in this particular instance let's say with Ray.
00:48:43.980 --> 00:48:51.090 Michael Gansl: Really wasn't the sales person really wasn't delivering and the marketing person really wasn't quite so really this was just meeting with Ray.
00:48:51.600 --> 00:49:06.960 Michael Gansl: and often enough will meet with the leadership team all of the stakeholders in an organization and we'll sit down and really first thing we're going to do is we're going to define what strengths weaknesses threats and opportunities are generically so us.
00:49:08.610 --> 00:49:24.540 Michael Gansl: Sorry strengths and weaknesses are endemic to the company opportunities and threats are outside, and so we make that clear, we understand that we go through that definition we're very clear and then we're now prior to the Swat.
00:49:25.260 --> 00:49:32.880 Michael Gansl: This is where I think we have a unique approach which separates us a little bit more than just being financial.
00:49:33.390 --> 00:49:41.550 Michael Gansl: We asked for them to provide us with their p&l and all their financial information and since matt and I are always focused on generating revenue.
00:49:41.880 --> 00:49:52.530 Michael Gansl: We want to see what every item in their p&l How does it relate to their revenue to the generation of revenue and so we'll take every line on as a percentage of revenue.
00:49:52.830 --> 00:50:04.920 Michael Gansl: Which means that when you're talking about growth if you see what your percentage of marketing is to your in terms of how much you've invested marketing to how much revenue you're generating and it's very little.
00:50:06.360 --> 00:50:14.280 Michael Gansl: You really have to look at that business owner and say, well, how do you expect to triple your sales, if you are keeping your marketing investment at this number.
00:50:15.510 --> 00:50:24.810 Michael Gansl: Right or your sales or your payroll etc, so we look at that and so we come on with this information prior to actually being in front of the leadership team.
00:50:25.230 --> 00:50:36.390 Michael Gansl: And once we get in front of the leadership team, we have a template and we have a template that really talks about marketing and sales and operations of processes and people everywhere every element, but.
00:50:37.320 --> 00:50:43.830 Michael Gansl: The reality is, despite the fact that we have a template and we've asked them to fill out many of these questions, prior to meeting with us.
00:50:44.370 --> 00:50:53.880 Michael Gansl: Every SWAT is unique, this is where we come down to the niche issues, this is where we come down to every every answer is different to the.
00:50:54.060 --> 00:51:06.900 Michael Gansl: If you say tell me identify your current market or tell me what are your sweet spots, or what are your problematic spots, despite the fact that's a template asking these questions, you know the answers are going to be incredibly different.
00:51:08.010 --> 00:51:23.130 Michael Gansl: So we spend a good two to three hours asking every question that we can about marketing sales operations processes than the people so that's part of the swap rate take copious notes.
00:51:24.660 --> 00:51:33.270 Michael Gansl: will then matt and I will go back and spend several hours just actually discussing debating what we've uncovered.
00:51:33.960 --> 00:51:43.410 Michael Gansl: And we will put together a series of recommendations and what we call an action plan and you could call it a business plan, but really we always look to simplify the situation.
00:51:43.830 --> 00:51:52.830 Michael Gansl: So we'll call it an action plan with recommendations will send it to our leadership team that we can work the leadership team we've been working with and then.
00:51:53.640 --> 00:51:58.140 Michael Gansl: we'll meet again and we'll meet again for another hour and a half to two hours.
00:51:58.380 --> 00:52:09.270 Michael Gansl: And we will see if what we have seen with our eyes what we've heard with our ears resonates with the business owner, in particular let's go back to Ray for a moment, because this was really.
00:52:09.600 --> 00:52:19.260 Michael Gansl: The most fascinating thing we said that Ray was in moving and storage, but i'll tell you what was the thing that we had covered in the swap.
00:52:19.500 --> 00:52:36.870 Matt Plociak: Well, we we found we found out that his storage business was had like a 60% margin, whereas the moving business had like a 30% margin so you don't have to be a genius what business, what I want to grow fastest.
00:52:37.920 --> 00:52:45.270 Matt Plociak: The storage business right yeah plus in the storage business in the movie business, I have to sell a project.
00:52:46.740 --> 00:53:06.810 Matt Plociak: Every day in business as a seller once it's with me, for months, if not years, I wake up on may 1 and I already have 3040 $50,000 of revenue coming in, without doing anything because it's in my warehouse right.
00:53:07.260 --> 00:53:09.570 Michael Gansl: We are looking for that recurring revenue.
00:53:09.840 --> 00:53:20.310 Michael Gansl: Where we can find it and, of course, the key and also in the Swat which we work with our clients and prospects, is to understand the difference between top line revenue and.
00:53:20.910 --> 00:53:21.270 Michael Gansl: revenue.
00:53:21.720 --> 00:53:23.220 Michael Gansl: Top line revenue was sexy.
00:53:24.480 --> 00:53:26.130 Michael Gansl: Online revenue pays the bills.
00:53:27.150 --> 00:53:27.510 Michael Gansl: See.
00:53:28.530 --> 00:53:29.100 Michael Gansl: So it's.
00:53:29.340 --> 00:53:38.700 Michael Gansl: So, in the end, in this particular instance, we met with Ray we provided the squat we went through this we define new services, new markets, new targets.
00:53:39.360 --> 00:53:51.060 Michael Gansl: We looked at the business development process and we looked at the sales process and we looked at what tools and resources are required to have made that change and to really have shifted the business.
00:53:51.540 --> 00:53:53.520 Michael Gansl: hmm that's basically how we.
00:53:53.640 --> 00:54:01.830 Matt Plociak: And all the all our our recommendations on our focus, based on what the owner says his or her goals are.
00:54:02.640 --> 00:54:10.560 Matt Plociak: So you know some you know something someone to grow, the sales 25 30% someone to spend less time in the business.
00:54:10.800 --> 00:54:25.530 Matt Plociak: Someone to double the business someone to sell the business, maybe in three to five years right, so it really depends on you know what's the owners goals are and that's how we tailor our recommendations, based on what we found.
00:54:25.950 --> 00:54:29.280 Michael Gansl: You know i'm looking at the clock Eric and I know we're running out of time.
00:54:29.580 --> 00:54:34.230 Michael Gansl: yeah but, as you can see, we could go on and on, with it because we love this stuff.
00:54:34.980 --> 00:54:41.550 Eric Sarver, Esq.: I can tell yeah you know, and we do have three minutes left, but I think we covered a lot tonight you know i'll just quickly note that.
00:54:41.910 --> 00:54:50.820 Eric Sarver, Esq.: I observed that it takes, you know all that time and analysis energy of both you looking in that a person like Ray on his own I think.
00:54:51.390 --> 00:55:02.400 Eric Sarver, Esq.: couldn't do it alone, and you know I would argue, either more thing I wanted to say, but I rather just get the time to you guys, we have a couple minutes to the end of the show could anything you want to talk about next two minutes in terms of.
00:55:02.820 --> 00:55:05.700 Eric Sarver, Esq.: Upcoming promotions your podcast events, people can find you.
00:55:05.880 --> 00:55:17.670 Michael Gansl: Sure, well, first of all our website is voice of reason consulting COM so everyone can find this there have matt and I are both on linkedin might get Michael cancel.
00:55:18.510 --> 00:55:19.020 Michael Gansl: Those yeah.
00:55:20.490 --> 00:55:32.970 Michael Gansl: let's see we have our Mike and matt mind your own business with Mike and matt we have a YouTube channel, and we also have mind your own business with Mike and matt a podcast that we did in 2019 and 20.
00:55:33.750 --> 00:55:39.930 Michael Gansl: And you can find on apple apple podcast or just any any place, you can find podcasts.
00:55:40.440 --> 00:55:46.650 Michael Gansl: And we do have initiative called the strategic Advisory Board, where we are setting up boards of directors.
00:55:46.920 --> 00:55:57.540 Michael Gansl: With for business owners of small and medium sized businesses who can have the power of a board of directors of their own peers and the power of several consultants that myself.
00:55:57.840 --> 00:56:07.980 Michael Gansl: and two other gentlemen Bob heist and Larry Sasha so I know we're running out of time, I guess that's that's it for us, I want to thank you and know matt and I want to thank you for this.
00:56:08.370 --> 00:56:10.980 Matt Plociak: This was fun Thank you so much for inviting us.
00:56:11.070 --> 00:56:12.450 Michael Gansl: Yes, so i'm Mike.
00:56:12.900 --> 00:56:13.620 Matt Plociak: i'm mad.
00:56:14.940 --> 00:56:18.720 Michael Gansl: And when the voices of reason voice of consulting thanks so much.
00:56:20.280 --> 00:56:24.090 Eric Sarver, Esq.: guys I just you know, that was a great wrap up in two minutes, there you did an awesome job.
00:56:25.260 --> 00:56:31.020 Eric Sarver, Esq.: I want to thank you so much for being on the show, and I want to say that you know matt and Mike you both gave really good insights and.
00:56:31.380 --> 00:56:36.780 Eric Sarver, Esq.: I hope our audience has some great takeaways and hope they reach out to you if they have any desire to grow their revenue in their business.
00:56:37.050 --> 00:56:43.440 Eric Sarver, Esq.: i'm Eric saw from the host of employment law today every Tuesday night 5pm to 6pm Eastern standard time.
00:56:43.830 --> 00:56:55.320 Eric Sarver, Esq.: Here on talk radio, am I see if you like, what you've seen and want to come back for more by all means, please join us on Tuesday nights have a great night, and thank you all and matt Mike a pleasure and have a great night.
00:56:55.410 --> 00:56:55.770 Michael Gansl: Thank you.
00:56:56.220 --> 00:56:56.760 Matt Plociak: So much.
00:56:57.450 --> 00:56:57.900 Take care.