Want to hear simple and practical ideas and opinions about business and entrepreneurship? After 20 years of working with entrepreneurs and business owners Dylan has lots to share. As the founder of Bridge Capital with a background in finance and technology he has made his own mistakes and doesn’t pull any punches when it comes to sharing his thoughts and opinions. This podcast is meant to inspire and encourage entrepreneurs.
Episodes
Wednesday Jul 27, 2022
Wednesday Jul 27, 2022
What is the next hardest thing a business owner learns to do after figuring out how to be profitable? Learning how to replace themselves. Business owners generally fill many different roles in their company, and often, no single role merits hiring a full-time (or even part-time) person. If you want to grow a business that can run without you, you will need to learn how to replace yourself. You are probably doing ten things at ten percent and getting ten percent results - not one hundred percent. The key to replacing yourself is to right-size your business so every daily job task you do can is handled by a team of people who can focus one hundred percent of their time on getting one hundred percent results. Business owners generally work longer hours than their team and subsidize the cost of running it with their sweat equity. By forcing yourself to pay people to do your daily tasks, you will have to get your business top line to a place where your margins can remain in place with the additional costs. Don't get stuck in your comfort zone. Expand your business results so you can afford to hand off daily responsibilities without sacrificing your bottom line.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
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Monday Jul 25, 2022
Monday Jul 25, 2022
A business exists to create value by providing a solution to a problem that people have. There are a few reasons why people pay for products and services to solve their problems, including:
1. They don't want to solve their problem on their own.
2. They can't afford to solve their problem on their own.
3. They don't have the time to solve their problem on their own.
As a business owner, you create value by bringing people and resources together to solve the problems people have. This concept is something many business owners overlook until they get to a point where they need to understand why their company isn't producing the results they want. To build a valuable business, you must spend time understanding why your customers use your business. What is the specific problem or problems your business is solving for them? The more detailed your answers are, the more opportunities you will find to create value.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Monday Jul 25, 2022
Monday Jul 25, 2022
When times get tough - some people lean out, and some people lean in. Running a business during a recession is not easy, but if you can do it, you might find yourself reaping significant rewards when times get better. Getting through a recession is easier when you pay attention to what is happening in the broader market. Out of desperation and necessity, many business owners will focus on their business and not pay attention to their customers, suppliers, or competitors. Business owners miss out on opportunities to capitalize and improve their business by not paying attention. One way to improve a business during a recession is to take advantage of the talent that might be available. During a recession, good people find themselves in the job market, and your company may be an excellent place for them. Good people are usually hard to find in good times, but in bad times as companies shut their doors or downsize, good people are available who need work. Another way to improve your business during a recession is to improve your customers' experience. Competition will dictate that fewer customers will be available, which leaves your business with an opportunity to serve them better than anyone else. If you can build a profitable business during a recession, you will reap the rewards when the market turns.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Thursday Jul 21, 2022
Thursday Jul 21, 2022
There is a direct relationship between how well your business can market its products and services and how quickly your sales team can convert prospects into customers. Poorly thought-out marketing will produce a poor sales process for your team and a poor experience for your prospects. A well-thought-out marketing strategy will attract the exact prospects your business wants by offering them the exact solution they want. Not every prospect in the market is the right potential customer for your business, and your business should not treat every customer the same. Understanding how your product or service solves a specific problem for a particular type of customer means your marketing will produce better prospects, your sales process will produce better customers, and your customers will give your better margins. The more work you put at the top of the funnel, the faster everything goes at every step through it.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Wednesday Jul 20, 2022
Wednesday Jul 20, 2022
Do you wish your business could generate results faster from its marketing efforts? We all want results more quickly, but by its very nature, marketing is a long cycle process. If you have to get in front of your potential customer ten times before they decide to engage with you, a certain amount of money and time needs to be spent to achieve conventional results. How can your business achieve unconventional results? You can spend more money and time to get in front of your audience quicker, or you can use the same amount of time and money but reduce the size of the audience you are marketing to. Another way is to define your perfect customer and create a compelling offer that reduces the number of times your potential customer needs to hear from you. The better the offer, the less time and money is required to attract your customer. If your business doesn't have a compelling offer, then your business will need to spend more time and money convincing the market to use your company. Market your business faster by understanding whom you want to attract and an offer that would reduce the number of times you need to get in front of them.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Tuesday Jul 19, 2022
Tuesday Jul 19, 2022
The struggle is real. Running a business is hard and making money is even more challenging. There is a moment many business owners have when they are unsure of their company's future. Understanding the next step in achieving a better outcome can be a struggle. There are three reasons a business owner will struggle. The first reason is that market conditions change, and business owners have to figure out the correct response and do it in a reasonable amount of time to ensure the success of their business. The second reason is that many business owners don't know what they don't know. Not having a high-level feedback loop or information that helps identify problems can be frustrating for a business owner that doesn't understand what has changed in their business and what they need to do to correct it. Lastly, business owners can frequently get in their own way. Not being willing to admit that times are challenging or that changes need to happen can directly result from a business owner's pride and ego. A business owner will struggle until they can begin working through the decisions that need to be made based on the reality of their circumstances. The sooner this can happen, the quicker a company will get back on track.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Monday Jul 18, 2022
Monday Jul 18, 2022
Have you ever considered the prices your business charges for its products and services? How does it compare to the market? Is your business closer to the lowest or highest cost provider? Taking time to understand your competitors can go a long way in understanding where your business fits in the market and what opportunities you might have to adjust the pricing for your products and services. Does your business work hard to attract and provide value to a specific type of customer? Does your business currently serve customers that are not as profitable as others? Why? What would it take to find and serve your perfect customer who would agree to pay the best price possible for what your business offers? And finally, what price would you like to get for your products and services? What would be required by your company to capture that price? Pricing is another lever that business owners can use to increase their margins and cash.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Friday Jul 15, 2022
Friday Jul 15, 2022
Is there an easy way to boost sales? Many business owners overlook the easiest and cheapest way to generate more sales even though they probably have all the pieces they need at their fingertips. A business expends a lot of time, money and effort acquiring a customer and their first sale. Some companies only focus on the customers they engage or regularly interact with. But if you are looking to boost your sales and do it inexpensively, you should consider looking at the customers your business does not engage with regularly. How? By developing, implementing and managing a scoring system for your customers. An excellent scoring system will help identify sales opportunities that only require time to uncover. Time to make a phone call. Time to send an email. Time to create regular marketing campaigns. Time to monitor the results. A scoring system is a key to boosting sales in any company.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Thursday Jul 14, 2022
Thursday Jul 14, 2022
Buying a business is exciting, and watching your ideas take shape can be very rewarding. Once you have found a business and structured a deal, you need a plan to get involved and make it your own. You can start by observing the culture, evaluating the people and resources, then deciding where you can add the most value to ensure success. Taking over a business can be tricky unless you set expectations which should be done sooner and not later. Use the time you have to plan for the business you want.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at:
Wednesday Jul 13, 2022
Wednesday Jul 13, 2022
Buying a business is exciting, especially if you don't need to write a check for it upfront. Many small business owners are more concerned about how they will untangle themselves from their business than how much money they will make from a sale. Using sweat equity and your knowledge and experience, you may be able to structure a deal to purchase a business that requires very little cash. Discover how you can address the needs of a prospective seller by being creative with the terms you offer and the investment you make. Successfully purchasing a business is more about the art of the deal than the numbers involved.
Watch this episode on YouTube:
Cash Flow Quadrant for Business Owners
Want to chat? Book a time: http://bit.ly/2rdDto2
Follow Dylan on Twitter:
@dylangallagher
Connect with dylan on LinkedIn at: