Category: Business

Helping entrepreneurs do more. Hosted by Dylan Gallagher.

October 30, 2018

1 mistake every entrepreneur is guaranteed to make

"So what you’re telling me is that we have never made money?"

This was an actual statement from an actual entrepreneur that was not happy with our conversation. Everything I was saying was not making sense to an entrepreneur that had money in the bank, a house, cars and investments all paid for by his business. The problem was his business had never actually made any money. The business owed more to creditors that it was expecting to receive from customers and had negative equity on its balance sheet. Basically, all the personal wealth that this entrepreneur had was from the creditors in his business including the government, vendors and his bank. Cash flow does not mean profit and this entrepreneur was about to discover how big a hole he had dug.

Read the blog here: https://dylangallagher.wordpress.com/2018/10/30/1-mistake-every-entrepreneur-is-guaranteed-to-make/

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: City - Ikson" 

October 23, 2018

Do you know the answer to this question?

"If you don't know how much money you make, how can you possibly be calling the government tomorrow with a plan on how you are going to pay them?"

I received a call this week from an entrepreneur that was 24 hours away from having to call the government and give them a plan for how the business was going to catch up on missed payroll and tax remittances. This is a veryfrequent conversation I have on a weekly basis with entrepreneurs that find themselves in a tough spot. It is very easy to end up backwards with the government and other creditors but your ability to understand how your business actually makes money can be the difference between your business surviving, thriving or dying.

Read the blog here: https://dylangallagher.wordpress.com/2018/10/23/do-you-know-the-answer-to-this-question/

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: My Go Away Dream - Corey Gagne" 

October 18, 2018

Bring it on! Why you should lean into difficult moments

"The greatest opportunities come from the most difficult moments"

It’s easy to start a business. Some may argue it’s easy to grow a business. The truth is that every entrepreneur will experience a difficult moment (or many) that will lead them to one of two decisions: close down the business OR lean in and create real value. Tough times are where real lesson are learnt and experience is gained.

Read the blog here: https://dylangallagher.wordpress.com/2018/10/18/bring-it-on-why-you-should-lean-into-difficult-moments/

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Ice Tea - Corey Gagne" 

October 9, 2018

Why creativity is more profitable than productivity

"Humans are about creativity – machines are about productivity"

There is a lot of talk these days about the impact that computers are having in the workplace. Similar to robots taking the jobs of assembly line workers we are witnessing computers take the jobs of administrators, bookkeepers and any one else whose primary task is to move information around. This evolution shouldn’t surprise us and yet many entrepreneurs are not taking advantage of these changes to easily grow their business. I think there is a simple reason for this and it’s based on a principle that at one time needed to be taught and now is simply baked into every business that offers a product or service to the market.

Read the blog here: https://dylangallagher.wordpress.com/2018/10/09/why-creativity-is-more-profitable-than-productivity/

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Over N Over - Corey Gagne" 

October 2, 2018

1 principle every entrepreneur can use to make better decisions

"A business will make money in a down market and collect it in an up market"

Running a business isn't easy. Every day there are challenges, opportunities, tasks and issues that all contribute to where a business finds itself at any given time. To help get through the daily grind an entrepreneur will use business coaches, consultants, webinars, training sessions and many other tools to ensure they are building their business properly. While these tools are very helpful there are certain principles that an entrepreneur can follow to guide their efforts each day. One of those principles is understanding what your business is fundamentally trying to do each day - is it learning how to make money or is it collecting money and reinvesting the results? This may seem like a strange concept but your ability to understand it can have a profound change in how you approach the daily grind of your business.

Read the blog here: https://dylangallagher.wordpress.com/2018/10/02/1-principle-every-entrepreneur-can-use-to-create-a-great-business/

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Road Trip - Joakim Karud" 

 

March 27, 2018

YouTube + Quora Live Episode - 03/27/2018 - FULL EPISODE

YouTube + Quora Live Episode

Listen now to discover the answers to these questions:

1. Is it a good decision for banks to provide rescue financing to Remington? (1:21)
2. How does one finance a buyout of other shareholders in a family business? (5:31)
3. What are my best options for financing a small business? (7:40)
4. What did Jeff Bezos mean when he said "Your margin is my opportunity."? (10:48)

Watch this episode on YouTube: https://youtu.be/LrgFgQysxrs

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: X50 -Dreams" 

March 20, 2018

YouTube + Quora Live Episode - 03/20/2018 - FULL EPISODE

YouTube + Quora Live Episode

Listen now to discover the answers to these questions:

1. What basic analysis can a small business owner do with invoices and cost documents to better understand the financial situation? (1:12)
2. What is the best blue collar business to become a millionaire? I am 20 years old and I really want to be successful. (6:01)
3. What are the different milestones of entrepreneurship? (10:39)
4. What is the difference between a good idea and success? (15:08)

Watch this episode on YouTube: https://youtu.be/9WVH6LeH8x0

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Liam M. - In My Soul" 

March 14, 2018

YouTube + Quora Live Episode - 03/13/2018 - FULL EPISODE

YouTube + Quora Live Episode

Listen now to discover the answers to these questions:

1. How can I grow my CA practice with the right business loan? (1:27)
2. What is the best way to make your small business run itself for you to have more time for either family or another business idea you want to start? (8:14)
3. My co-founder is threatening to quit unless I give him more equity. What should I do? (12:13)

Watch this episode on YouTube: https://youtu.be/f7zgV3eUVJM

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Jordyn Edmonds - Sweet Baby" 

March 12, 2018

Hate formulas? Remember this one.

Even if you hate formulas there is one that you should memorize and work to solve each day. The effort will be worth the reward. Not only will your business have disproportionately higher profits compared to the rest of the market it will also be disproportionately more valuable.What is the formula? Listen now to find out.

Watch this episode on YouTube: https://youtu.be/O7-nkDsd-As

LinkedIn: www.linkedin.com/in/gallagherdylan

"music: Markvard - West Coast"

March 6, 2018

YouTube + Quora Live Episode - 03/06/2018 - FULL EPISODE

YouTube + Quora Live Episode

Listen now to discover the answers to these questions:

1. What are the crucial differences between a balance sheet and income statement in financial accounting every entrepreneur should know? (1:05)
2. What makes your business great? How? Why? (4:54)
3. What is the right way to ensure your company succeeds in your absence? (8:34)
4. What should all aspiring entrepreneurs know about developing a business strategy? (12:50)

Watch this episode on YouTube: https://youtu.be/WmuFKtygR0g

LinkedIn: http://www.linkedin.com/in/gallagherdylan

"music: Joakim Karud - Rock Angel"