A lot of times business owners are really good at the widget they produce or ...
Increasing sales, increasing your net income, increasing the value of the company. Especially now you get a lot of baby boomers that are considering exiting and wanting to sell their company. How do I improve the value of my company? This is right about now with Ryan Alford, a radcast network production. We are the number one business show on the planet with over 1 million downloads a month.
Taking the BS out of business for over 6 years and over 400 episodes. You ready to start snapping necks and cash and checks? Well, it starts right about now. Hey guys, what's up? Welcome to right about now.
We're always getting right. We're always right now.
We're taking the BS out of business and hey, what better way to take the BS out of business? Then talk to Mr. Biz himself. Kim went worth author of three best selling books, a known radio master. What's up, Kim? Good to be here, man. We're taking the BS out of business.
We got to go straight to Mr. Biz. That's right, man. I'm here for it to do respect. The registered trademark on Mr. Biz is a marketing guy. Hey, you got to lean into that brand, baby. Honestly, I was very hesitant initially.
Enough people will push me. I finally said I might as well lean into it. We'll remember stories and they also remember cat phrases and things. There's mastery and simplicity and Mr. Biz is simple, but it's straight to the point.
Your Mr. Biz, you talk about your own business. The brand is aligned and it's what people remember. Let's set the table on who is Mr. Biz. I had a corporate career for a long time. Or to Jake Morgan was able to send a pretty high level there.
I was being promoted in the top 1% of the company, which sounds great.
“Got a mentor, walked through things, and he said, "You need to be a CFO for six or eight businesses."”
And I'm thinking, "How the heck do you do that?" Because being a CFO in my corporate world for one business in JP Morgan is a 60 year to 80 an hour a week job. How can you do that for multiple? Where do you get to call yourself with the heck?
He's like, "No, you do it on fractional basis part-time basis. Once he explained it to me, it made me a lot of sense." I left JP Morgan. I got my first client. This is what I'm supposed to be doing.
It's not work for me. What I do for a living is a hobby now. It's a hobby you enjoy to do because I love it so much. Someone asked me, "How many hours a week do you work?" And I go, "I don't know, I don't punch clock."
They said, "What do you mean? You don't know." You don't work a certain, I'm like, "No, I don't." I'm going to have flexibility. My kids got a game. I take off, and I just quit work at 2.30 an afternoon and go to the game.
I might work from 9 o'clock at night to 1 in a morning or something, too. I do some form of work almost seven days a week. I don't see that the brag or like, "Oh, man, I'm this big hustle grind or whatever." It's just because I like it. A lot of times my wife and daughter go to bed
and the evening, I'll pop into my home office because I've got something I'm working on. Something wrong with you. I'm the same way. Oh, multiple companies.
And I might be gone at 11 a.m. To do something that no one else has the fuck's ability to do. I'm doing business. And not because you had to, but you enjoyed. You got an idea.
You want to flush it out. Same thing.
“I think that's the entrepreneurial gene.”
It helps with you. Do what you love. I'm very grateful, blessed that I'm in a position I'm in now. I had a client. I had been working with for a while.
They're getting the point where they need a full time CFO. I said, "Okay, I'll be transition. I'll help you find someone and then we'll do the transitional." She said, "Well, why don't you just come work for us?" She said, "I love working with them.
They're a great client. Great people. I don't want to do it." I can't imagine ever again working with one company going to one office. I just can't imagine now being kind of locked down to that.
They're just working with one company or whatever. It's one of the things I love about what I do is different challenges, different companies, different personalities, different industries. And she said, "Well, there's got to be a price. Give me a price."
And I said, "5 million dollars."
She said, "For what? For 10-year contract." I said, "No, for one year." She said, "I can't afford that." I said, "Right."
So let's move on. I'm very grateful for the position I'm in now. It's pretty rare.
“I mean, how many times you talk to someone who actually loves what they do for living?”
And they're not just checking the box. They're not on Wednesday going, "Oh, my gosh. Is the weekend here yet." I'm not that way. Sunday nights a lot times.
I have trouble sleeping. I start playing on my week on Sunday and I get jazzed up about what I got going on during the week. I'm laying in bed on Sunday night going, "Man, on Tuesday." That's going to be awesome. I'm going to do this.
I'm going to do that. Wednesday, I'm going to talk to some. There's not many people in that position. I don't take it for granted, but I'm definitely very grateful for it. You have a popular radio show.
Talk about that, where the Mr. Biz came. Talk a little bit about that journey. It asked me to be a guest on someone else's show to come on as a business expert. They take callers. There was me.
There was an attorney and there was like a marketing person. The business owners would call and ask a question. Depending on which one of us would answer the question and try to give them help. I was on the show two different times. Did a couple different segments.
The GMA station said, "Hey, man, I've been looking for someone to host. A business related show for almost a year now. You're my guy. You've got a host to show." I'm like, "I don't do that.
This is fun, but that's not my way." What I'm finding is I'm finding people who are either super knowledgeable, but they have the personality of a thumbtack. Or they don't have any depth of knowledge and they're just super charismatic and sound like a used car salesman.
You're a combination of both. I'm like, "Must try to take that."
But they finally warm me down.
I said, "I'll do eight shows and see if I like it. Probably about three or four shows in." I was like, "This is pretty cool.
I really enjoy it.
It's funny.
“I think a lot of people think, "Oh, we're a radio show."”
That's like this much of what I do. It's almost like a little side project thing. I do enjoy it. It's a lot of fun. I get to meet a lot of cool people and talk to a lot of cool people and learn from a bunch
of different people as well. I guess I want to show and things like that. It's another avenue creating content and being able to put content off of people and things like that. I definitely enjoy it.
There's a fractional CFO. When you step in, what are people looking for you to help with? And maybe what's some of the most practical outcomes that come from your expertise and what you end up helping businesses with? Typically, I come in as very strategic.
My undergrad is an accounting, but it's boarded me to tears. I worked for the first couple years in my career in accounting and I'm like, "Oh, my gosh." This is way too far in the weeds for me. Typically coming in and helping a business. A lot of times their businesses that probably a lot of people can relate is they've been a business
for 8, 10, 15, 20 years. And you kind of start to get a little bit of tunnel vision.
And you start to get the, this is the way we've always done it mentality.
And having a fresh set of eyes that come in and say, "Wait a minute, guys. Why are we doing this?" It's so often I come into a business and there's so much low hanging fruit of ways to improve and make massive changes where managing their margins better. And a nutshell, meaning that for every dollar you're bringing in in sales,
you're keeping more of it. More of it's ended up in your pocket in the day. And that's not just cutting expenses and things like that. It's a lot of other strategic things that do. And making sure you're pricing things and a lot of people just come in the air
and they're pricing things a lot of times without considering what should your margins be on. There's different things and managing through some of that stuff. Ways to increase sales, this stuff's in your way off as well. There's so many times you get that mentality that we've always done it this way. And then picking their head up out of the weeds to see the forest a little better and a little clearer.
When I first started doing this after I left my corporate career, I was like, "Can I really do this? Can I help people? Can I really make a difference?" And then the first client I'm with can 90 days, the chains, you could see the transformation in just the first 90 days and then obviously beyond that. And then the next client I got, it's like, "Holy crap."
It gave me a lot of confidence to say, "Yeah, I am pretty good at this."
It's easy for me to go in and I just always thought because everyone has this knowledge.
I was in the corporate world, I was in a financial company and there's a lot of financial smart people around me. So I just thought, "Well, everyone has this knowledge. Everyone thinks this way." A lot of times business owners are really good at the widget they produce or whatever service they're providing, but they're not really good on the business side of things. Increasing sales, increasing your net income, increasing the value of the company,
especially now you get a lot of baby boomers that are considering exiting and wanting to sell their company. How do I improve the value of my company? In my agency now, my role of a lot of times with the client is what you just described because that's my expertise in marketing and branding is really, almost more of that business consultant type to role.
And I was just at your thinking thing, "Hey, I'm going at this from." So what the challenge is we have is we're kind of always on the agency side of the fence. They want to listen to me, but unless you like on the team, even if it's fracturally, it's hard to get implementation to happen. I have the time we work with the client if they would get this this and this out of their way.
Or do this, a lot of times that's more than one ad is going to save the day. This ad could do it and we can write you a great campaign, but that's just going to be a lipstick on the pig. When I'm talking to someone who's a prospective client, and I found this out early on, you got to have someone who's willing to listen.
And willing to implement, I had one client that saw it learned it that given them all these different things to do and change in their business and they're not implementing anything. I really took a step back, I tried some different approaches. I really have to make sure that when I'm talking to someone to prospective client that they are going to listen,
I'm not saying everything I say is gospel. Like I've got everybody in the world. But when we do agree on something that they're actually going to make the change. And so for me, having someone that's an ally in the business, that's not just a CEO, but someone under the CEO that's CEO or something like that,
that's actually going to be implementing some of these things. It's critically important. One of the things I do that I require for a client. If you have a staff meeting with your leadership team, I'm in it. Because I want to be part of the team.
I want to be perceived as part of the team. And that way it helps me keep my finger on the pulse of the business and it gives me a voice at that table to push some of the initiatives that I'm trying to get some of the changes I'm trying to think. Who's picking up on this?
Have we made any progress on this? And that made a huge difference.
“Really making sure that I'm involved in some of those key meetings.”
When they have quarterly planning off sites, I'm there. And a lot of the clients are like, you'll do that. You're not even going to employee of ours. I got to be part of this. Like I want to.
And it's going to help me be able to help you better. It's critically important to be involved. It's so frustrating to have someone that doesn't implement. You just do the two other things. It could be explosive.
The neighborhood agency is radical and that was intentional. Because I think of myself as a progressive, bargaining item, progressive thinker. Also to give license to ideas. Because I'll pull the card on the client.
You hired a fucking agency named radical. And you're telling me that idea is too crazy. I do the same thing. I had the last big client I brought on. It was a company that had been a business for almost 40 years.
Doing pretty well.
They're doing 20 million a year.
They gave me their books. And I'm looking at them over anything. And I went back and had second meeting with them.
“We get to end the meeting and I said, look, if you want to see”
a photo that's going to help you maintain your 20 million a year, 22 million a year, I'm not your guy. Because this company is a 50 million dollar company. If you hire me, I'm going to push your ass to 50 million. And it's you don't like that.
And you don't want that. Don't hire me. Because you're going to frustrate the crap out of me. And I'm going to frustrate the crap out of you. You want someone to push you to 50, then hire me.
Let's go.
Let's roll. And a guy stood up. He pound his hands on the table and he's like, you're my guy. Let's fucking go. I love it. I knew that company in the potentially have it.
I'm like, man, they're going to drive me nuts.
If they want to just chum along at 20 or 25 million,
that's going to drive me crazy. Because I can see the potential for it. Just put the cars on the table. If that's not going to work for you, then we probably shouldn't work together. Exactly.
Again, for we transition into the state of business. What is formulated Mr. Biz? Is this nature or nurtured? Are you a student of some form of business technique or you've read
“a billion business books and you've just distilled it into your own thing?”
Or is this just innate? I think it's a little bit of a combination of almost a little bit everything. A lot of it was just the experience I got in the corporate or a JPMorgan. Working in a lot of different types of businesses. At one point in my career I worked in the private equity group.
We would go into businesses and probably go in and turn businesses around. I love that. The only reason I stayed with that is we started a family and I was traveling a lot. And so I don't want to be on the road and missing out on my kids and all that kind of stuff. So I put out of that group.
I call my three pillars of financial success. So this is the one I start with with every business. With every client I start with. We start with cash flow, you know, cash flow business.
And there's almost always ways you can improve your cash flow.
Usually things are very simple to implement to improve your cash flow. Pretty quickly. Budget. If you're not going to have a budget, you can't work with me because a budget is so critically important on making sure you're measuring how you're doing every single month.
That way you see what the heck is working and what the heck is not working. And you could fix it right away. And not get six months into the year and go, holy shit, we're not going to hit our salesball for the year. Now what we do. And then the last part is I call mine and your margins.
Talk about your pricing and your margins and everything. I touched on a little bit earlier. But there's almost always subtle ways to improve that. And I don't mean just cutting expenses and things like that. But we've improved those things.
Those are the foundation of any financially strong company. You have to have those three things. Once you have those right, you got three strong pillars to set the business on. And then we can start talking about other things. Really for me foundation.
You got to start with those.
“But yeah, I think it's a combination of my experience just seeing a bunch of different businesses.”
And that's what people want to see. And again, it's where I grow up. I'm like, I am pretty good at this because someone will give me their pee and now and I'll look at it. And I'll be like, your sales have been declining for the last six to nine months or so. I can see here, you know, they're like, how can you tell that from looking at that?
I'm like, I don't know. If anyone remembers the baseball player Barry Bonds, right? I remember seeing him interview. This one he's still playing. And they were doing a slow mo of the picture.
And they said, tell me what you're thinking. And they show a picture and he's winding it up. And they literally to give him their remote control. And the picture, like, starts to rock back in a stance and it was wind up. And he paused it.
And he said, do you see how he rocked back on his left foot? He took a step back further and he did last pitch. He said, that probably means that it's going to be a fastball because he's dipping back further to get more and they're like, you saw that. And then he's like, you get a little bit further.
And he's like, you see how he's got his glove held? It's probably a change up because of this, this and this and they're like, how do you know that? He goes, I don't know. I see it. And I think why can't everyone else see it?
It was interesting. Barry Bonds hit a few home runs and he was a natural for sure. [MUSIC] Ken, working everybody keep up with everything you're doing. Your books talk about, don't fake the funk.
Your latest book. What, give you a little expect from that and work and they find it. All that stuff. Yeah. He's just way to find everything we got going on is MrBiz.com.
All the stuff's out there where you show the books and all that good stuff. You know, the book, it's different though.
My first two books were business-related books.
This one was completely different. It's not business. It's more goal-oriented. I had unbeknownst to me just kind of going along. I used to be a competitive power lifter and had a lot of success there.
A lot of the goals I had tackered in life. I developed this four-step approach on how to tackle goals and achieve big goals. I was talking with someone in our mentor and was kind of walking him through. He was trying to do something. I'm like, well, I would do this.
I was kind of walking through. And again, not even knowing. And he's taking notes. He's like, really, just make sure I got this right. It's basically just like four steps.
I'm like, yeah, I guess so. A couple weeks later, going through the same process. Someone else I meant to her. Same thing. The woman's like, it really sounds like it's kind of just like four steps.
And I was like, so I started thinking, I'm driving home from that second of me. And I'm like, yeah, it's kind of four. And they're like, this is great. I do a lot of speaking engagements. It was this guy, they just speaker backed out on him.
It was early December. And it was like a holiday party kind of thing. And he's like, hey, can you come and talk? I'm not going to tell him a business at a holiday party. People don't want to hear that crap.
Like, people are having some adult frescoes. They don't want to listen to someone talk about cash flow or whatever. They got this new topic. Talk about it. Everyone loved it.
Standing a patient, all those other crap people were coming back to. And they're like, please tell me you have a book about this. That outlines all this. I'm like, no, so I'm like, maybe need to write a book about it.
“So that's, that's what ended up becoming don't fake the funk.”
And subtitle you might appreciate is F being average. From marketing branding, we were testing out subtitles for the book. I knew don't fake the funk was in the title, but like, what's the subtitle? We came up. We came brought it down to four options.
And we hired a company. We surveyed a thousand people that were in the demo for the book. And F being average had more than the other three options combined. It had 54% of the votes. And the other three combined had 46%.
I was like, no, okay, let's go. Because people were like, you can't put profanely let alone the F word. And it's subtitle your book. And I'm like, the people are spoken. Let's go.
There.
Yes. There's not surprising. It's funny.
I was surprised by the results.
We put the asterisk. It's not spelled out, but still. I mean, I was very surprised. And I got some heat.
“People were like, you know, I know what kind of person you put that word”
because sometimes when you're a book. And I'm like, hey, man, if that offended you, you probably don't want to read the book. And you probably won't like me either. Some of you will get caught up on the cussing thing.
I don't think I have a potty mouth.
But it's just natural. It's just words, man. It has emphasis. But man, the amount of people that really get in their paintings in a lot over that shit.
It's mind blowing. Anyway, I love it. Don't fake the phone. Fuck being average. Whether without the fuck.
It's empowering. And motivational. That's why people like it. And I'm assuming from the premise. And I did skim through it.
“But admittedly from showbooking to getting you on.”
I haven't read the full book. Yeah. But I have to assume you're kind of saying, you know, don't fake it to you. Make it. You got to live it to get there.
Absolutely. Yeah. I'm not a fake it to you, making God on. I think that's strasher place. If you're faking it to you, make it.
It's always fake. If what you're making your copy of isn't great. Then what you get out of the other.
“It's not going to magically behind higher resolution.”
If you make a copy of a bad photocopy. Yeah. Right. Exactly. It's almost the exact same thing.
I really appreciate you coming on. I was honored to be here. I appreciate it. It's good conversation Ryan. You don't find us.
Ryan is right dot com. You'll find all the highlight clips and the full episodes from today. Including the YouTube video. We got some excited things coming on the video side.
And I'm always at Ryan offered with that blue check for you can buy it.
We'll see you next time. All right about now. This has been right about now with Ryan Alfred. A rad cast network production. Visit Ryan is right dot com for full audio and video versions of the show.
Or to inquire about sponsorship opportunities. Thanks for listening.
