How much more money could you be making if you actually understood what was going on in your business? Sigi Loya, President of The Alternative Board Pittsburgh, joins Bill today to provide insight in what really makes a business successful. They delve into essential strategies for business growth, emphasizing the necessity of recognizing and addressing sales challenges, understanding financial metrics, and the importance of networking and referrals. Sigi explains why business owners should focus on uncovering pain points and pre-qualifying leads to improve their sales process. They also discuss the critical areas every business owner must manage, including sales, finance, operations, human resources, and industry trends. Sigi provides practical advice for aspiring entrepreneurs on avoiding common pitfalls, managing company operations effectively, and preparing businesses for sale. The episode offers expert insights into the challenges and solutions for sustaining and growing a business.

Takeaways:

• Identify and Address Pain Points Early: Regularly ask questions to uncover problems your customers don't realize they have. Sales are most effective when customers recognize their pain points and consider them unbearable.
• Importance of Consistent Prospecting: Avoid the "camel hump" by ensuring continuous prospecting to maintain a steady flow of customers. Dedicate time consistently to networking and reaching out to potential clients, rather than stopping once you’ve secured a few sales.
• Overcoming Fear of Networking: Practice regularly to build comfort and competence in networking and sales situations. Bring a more experienced partner for support initially, and keep practicing to improve over time.
• Understanding Financial Statements: Regularly review key financial metrics such as cost of goods sold, payroll, and net income as percentages of revenue. Learn the basics of the cash flow statement to understand the actual liquidity of the business.
• HR and Operations Management: Deal promptly with underperforming employees to maintain morale and productivity among top performers.
• Continuous Learning and Adaptation: Join or form a board of directors or business advisory board to gain insights and feedback from other experienced business owners. Remain open to feedback and be willing to make necessary changes to improve business operations.

Quote of the Show:

“It’s  just about learning from other people's mistakes as quickly as possible. There's no honor in you making mistakes if you could have just learned it from somebody else.” - Sigi Loya

What problem can the listeners help you solve?

• He wants to know why business owners realize there is a problem, but lack the action to solve it, and why people don’t change the situation they’re in if they are unhappy.

Links:

• LinkedIn: https://www.linkedin.com/in/sigi-loya/
• Website: https://www.tab-pittsburgh.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Social media is now. If your business isn’t present on social media, you’re falling behind. Today, we take a deep dive into social media strategies with guest Nathalee Arroyo, Client Success Manager and Social Media Strategist at Audience Genomics (Aggie) and a budding entrepreneur. She emphasizes the importance of regular and genuine engagement, sharing insights from her work at Aggie, an AI-driven social media management tool, and her own entrepreneurial experience with her fashion company, Natoreus. The discussion covers strategies for effective posting, the benefits of combining AI with human support, and overcoming common challenges small businesses face in social media marketing.

Takeaways:

• Consistency is Key: Post regularly on social media. Aim for 3-5 times a week to keep your audience engaged and your brand visible.
• Be Authentic: Build trust with your audience by being genuine and transparent in your posts. Authenticity leads to credibility.
• Engage with Your Audience: Respond to comments and messages to foster a community and build stronger relationships with your followers.
• Diversify Your Content: Experiment with different types of posts (videos, images, stories) across various platforms like Instagram, LinkedIn, and TikTok to see what resonates best with your audience.
• Trial and Error: Don't be afraid to test different strategies and learn from what works and what doesn't.
• Use Metrics to Guide Your Strategy: Pay attention to likes, comments, shares, and other engagement metrics to understand what content performs best.

Quote of the Show:

“Social media is a long-term game. It's not about one viral post, but it's about showing up regularly with content that resonates with your target audience.” - Nathalee Arroyo

What problem can the listeners help you solve?

• She wants to limit the misconceptions about AI. AI is a tool, not an immediate solution.

Links:

• LinkedIn: https://www.linkedin.com/in/nathalee-arroyo/
• Natoreus: https://www.linkedin.com/company/natoreus/
• Website: https://www.audiencegenomics.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Embrace the small clients before you scale your business. Today, Bill welcomes Daniel Dimitri, CEO and Founder of Pharma Force, to discuss the evolving landscape of the healthcare technology industry. Daniel shares his journey of growing a company in a competitive space, emphasizing the importance of starting small and building credibility. He also highlights the role of anticipation in business strategy and the complexities of the U.S. healthcare system. The conversation covers a range of topics, including drug pricing, the potential impact of AI on healthcare, and the significance of maintaining a strong company culture. Daniel also provides candid insights into his experiences and the ongoing evolution of his company in response to new technologies.

Takeaways:

• Start Small, Build Credibility: Focus on acquiring small clients initially. Deliver excellent service to build credibility and use this as a stepping stone to target medium-sized and larger clients over time.
• Anticipate Future Challenges: Regularly assess the horizon for potential problems and opportunities. Prepare in advance for growth by fixing small issues before they become big problems.
• Promote Continuous Improvement: Encourage a culture of continuous improvement within your organization. Regularly identify and address cumbersome or inefficient processes to avoid future complications, especially in a growing company.
• Emphasize Reality-based Culture: In leadership, be honest and realistic with your team about challenges. Share past mistakes transparently to foster learning and growth.
• Continuous Learning and Adaptation: Cultivate resilience and patience. Adapt to challenges as they come, and remain committed to long-term goals despite short-term difficulties.
• Effective Leadership: As a leader, focus on building a collaborative and trust-based culture. Empower your team to contribute ideas and solutions for better organizational performance.

Quote of the Show:

“ The role of a good leader is you get a lot of people working together in a symbiotic way. Cause when that happens, beautiful things can happen.” - Daniel Dimitri

What problem can the listeners help you solve?

• He wants to know how many businesses are using AI so he can assess where his company falls in AI adoption compared to others.

Links:

• LinkedIn: https://www.linkedin.com/in/daniel-dimitri-10324749/
• Website: https://www.thepharmaforce.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Do you want to be a business owner? Consider buying one instead of starting from scratch! Tamara Bey, President of EGR Financial Solutions, joins Bill to dive deep into strategies for business growth. With over two decades of experience in sales leadership, strategic planning, and relationship management, Tamara shares insights on the importance of partnerships, leveraging LinkedIn for networking, and navigating business financing options. The conversation also touches on buying an established business versus starting one from scratch, the significance of maintaining both personal and business credit, and understanding business valuations and add-backs. This episode is packed with valuable advice for both prospective and current business owners.

Takeaways:

• Consider Buying vs. Starting a Business: This approach lets you build on an established foundation and potentially avoids some early growing pains.
• Leverage Partnerships: Look for opportunities to form strategic partnerships with other businesses. These can help you leverage strengths, share resources, and ultimately achieve common goals.
• Get Your Financials in Order: Good bookkeeping is critical. Keep detailed records of your financials and track cash flow meticulously. Separate personal and business credit to ensure your financial health is clear and organized.
• Prepare for Business Loans: Develop a thorough business plan and detailed financial projections. Collect several years of financial records to present to lenders.
• Valuing a Business: When buying or selling, ensure a professional business valuation. Understand the difference between revenue and profit and how to properly calculate add-backs (e.g., owner’s salary, depreciation).
• Utilize LinkedIn for Networking: Stay active on LinkedIn to connect with other business professionals and explore partnership opportunities.

Quote of the Show:

“ Get into that business, add your own flavor, and grow that business to the next level.” - Tamara Bey

What problem can the listeners help you solve?

• Finding business partnerships.

Links:

• LinkedIn: https://www.linkedin.com/in/tamarabey-servantleader/
• Website: https://www.egrfinancialsolutions.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Five-time founder, Joe Blattner, Owner of COMPackage, joins Bill today to dive into his journey and the secrets of his business success. Joe discusses the importance of keeping burn rates low, the significance of one key business metric, and the necessity of surrounding oneself with the right people. He also discusses how he handles stress, the impact of creative office environments, and his ventures in sustainability with Green Rated and Clean Rated. This episode provides rich insights into business growth, strategic thinking, and personal philosophies that have helped Joe succeed in various ventures over several decades.

Takeaways:

• Focus on Burn Rate Management: Keeping burn rate low is crucial. Business owners should aim to minimize expenses and manage cash flow effectively to ensure sustainability, especially during uncertain times.
• Surround Yourself with the Right People: Hiring competent and passionate individuals can significantly contribute to the success of a business. Building a strong team that complements your skills is essential.
• Innovate with Technology: Embrace technology and automation to streamline operations and stay ahead of the competition. Early adoption of new tech can provide a competitive edge.
• Effective Stress Management: It's important for business owners to find effective ways to manage stress. Whether through delegation, maintaining a positive outlook, or regular relaxation, mental health should be a priority.
• Learn from Failures: Viewing failures as learning opportunities can foster growth and improvement. Analyzing mistakes and adapting strategies accordingly helps in long-term success.
• Creative Problem Solving: Encouraging creativity within the team and embracing innovative solutions can differentiate your business. Creativity isn’t just for marketing; it can apply to all aspects of operations.

Quote of the Show:

“ I just blind myself to the hard times and say, make this work. Do the right thing and make this work.” - Joe Blattner

What problem can the listeners help you solve?

• Joe is looking to sell his business within the next year.

Links:

• LinkedIn: https://www.linkedin.com/in/joeblattner/
• Website: https://www.compackage.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

For your business to be successful, it is crucial that your systems are connected. Karl Staib, Founder and Owner of Systematic Leader and Human-Centered Designer at USAA, joins today to discuss everything systems-related. He discusses his approach to creating effective workflows, the significance of feedback loops, and techniques to improve employee efficiency and engagement. Karl also touches on the interconnectedness of systems across different business functions and the value of appreciation in a workplace. The episode provides valuable advice for business owners and leaders seeking to streamline their operations and foster a more collaborative and efficient work environment.

Takeaways:

• Implement Proactive Communication: Ensure systems of communication within your team or company are proactive rather than reactive to save time and enhance efficiency.
• Systematize Feedback Loops: Create consistent feedback mechanisms where employees provide regular updates on their projects, identifying what's working and what’s not.
• Appreciate Your Team: Make it a routine to write down things you're grateful for about your employees and share your appreciation regularly, which can greatly enhance team morale and culture.
• Collaborate on System Improvements: Engage your employees in the process of improving systems. They should help identify problems and contribute to devising solutions to ensure buy-in and effectiveness.
• Slow Down to Speed Up: Take the necessary time to refine and smooth out systems before ramping up activities. This preparation can lead to more efficient operations in the long run.
• Track Your Work: Consistently document and track your work and processes. This practice can help identify areas for improvement and maintain accountability.

Quote of the Show:

“ If they understand how everything's connected, they feel like they're a part of something and not doing things in a vacuum.” - Karl Staib

What problem can the listeners help you solve?

• Explaining and sharing the value of systems being interconnected within a company.

Links:

• LinkedIn: https://www.linkedin.com/in/karlstaib/
• Website: https://systematicleader.co/
• Podcast: https://podcasts.apple.com/us/podcast/systematic-leader/id1535499918

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Are you prepared to sell your business? Brad Franc, Founder of The Succession Solution, joins Bill today to take a deep dive into business succession planning. They discuss Brad's experiences and expertise in helping business owners address critical challenges in growing and transitioning their companies. Brad delves into strategies for understanding customer needs, the importance of confidential client relationships, and effective succession planning. He also shares his insights on overcoming obstacles, the value of starting succession planning early, and offers a comprehensive roadmap to guide business owners through the succession planning process. The episode concludes with Brad sharing personal anecdotes and advice for other advisors, highlighting the vital role they can play in business succession planning.

Takeaways:

• Identify a Vision for Your Business: Define your core values and envision where you want to be in 5-10 years. Understand why you want to reach your vision; having a clear "why" can provide motivation and direction.
• Conduct a Deep Dive Into Your Business: Assess your current business state, including ownership structures, financials, and operational details. This helps in knowing exactly where your business stands.
• Recognize and Address Obstacles: Identify the challenges that could impede achieving your vision. This includes both internal and external factors.
• Develop a Succession Plan: Plan for the future transfer of knowledge, management, and ownership. Starting early, ideally 5 to 10 years in advance, allows for thorough preparation and testing of potential successors.
• Involve and Train the Next Generation: Start grooming potential successors by involving them in leadership roles and providing necessary training. Having a clear process for evaluation is key.
• Plan for Unexpected Situations: Ensure there are measures like power of attorney and clear succession plans in place to manage unforeseen circumstances like illness or sudden unavailability.
• Prepare for Business Sales: Regularly review readiness for potential sales. This includes non-competes, shareholder agreements, and ensuring personal assets are separated from business assets.

Quote of the Show:

“Don’t be afraid to fail because it’s gonna happen. It’s just part of the growth factor.” - Brad Franc

What problem can the listeners help Brad solve?

• He would like to know what obstacles business owners face today so that he can learn more about the challenges they need help with.

Links:

• LinkedIn: https://www.linkedin.com/in/bradleyjfranc/
• Website: https://www.thesuccessionsolution.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth

Find the way to make yourself just 1% more confident! Today’s guest, Jim Bundy, Owner of Team Bundy Jiu Jitsu, joins to go all in on the importance of surrounding oneself with winners, developing a core of personal integrity, and the critical role of leadership. He emphasizes the correlation between martial arts training, especially jiu jitsu, and business success, focusing on stress management, confidence, and perseverance. The episode highlights Jim's unique approach to belt testing, which is designed to be transformative and inspiring, pushing students to understand their capabilities and resilience. Jim also shares personal stories about his background, the importance of not getting distracted, and the power of personal development.

Takeaways:

• Surround Yourself with Winners: Reflect on your own environment and consider making changes to surround yourself with people who inspire and elevate you.
• Hire for Character: When building a team, look for the right personality and integrity first. Skills can be taught, but passion and sincerity cannot. Identify individuals who naturally help others and have a good soul, and then provide them with the necessary tools and training.
• Continuous Self-Improvement: To be an effective leader, prioritize your own personal development. Invest time in improving your mindset, skill set, and leadership abilities.
• Know Who You Are and What You Want: Clearly define your vision and mission for your business or personal goals. This clarity prevents you from being swayed by every new idea and keeps you grounded in your core values.
• Importance of Physical and Mental Training: Engaging in rigorous physical activities like jiu jitsu can build resilience, improve mental toughness, and enhance overall confidence. Consider incorporating a discipline or routine that challenges both your body and mind.
• Commit and Persevere: Whether it’s in business, learning a new skill, or pursuing personal goals, commitment and perseverance are key. Adopt a mindset of not giving up and pushing through challenges to reach milestones.

Quote of the Show:

“You have to be around people that are winning in the way that you want to win.” - Jim Bundy

Links:

• LinkedIn: https://www.linkedin.com/in/jim-bundy-76480821/
• Instagram: https://www.instagram.com/coachjimbundy1/
• Website: https://teambundymma.com/

Ways to Tune In:

• Transistor: https://steelcitygrowth.live/
• Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
• Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
• Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
• Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
• YouTube: https://www.youtube.com/@SteelCityGrowth