ProfitSense with Bill McDermott, Episode 47: Jonathan Strack and Eric Cooley, Strack, Inc. & Chris Smith, CB Smith & Associates

ByBill McDermott July 17, 2023July 17, 2023

On this edition of ProfitSense with Bill McDermott, Jonathan Strack and Eric Cooley from Strack, Inc., and Chris Smith, CB Smith & Associates, joined us for a discussion on building their respective businesses and adapting to the digital age. Jonathan and Eric talked about cultivating a company culture, getting outside their comfort zone to recruit talent and market their business, growing the skills of their people, and more. Chris discussed the ways his firm is leveraging technology and AI, how they support their clients through tax planning, new tax laws, and more.

Bill concluded the episode with comments on the one liquidity rule every business owner should know.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Profitability Coaching

The Business Owner’s Cheat Sheet: Working ON the Business

ByBill McDermott January 10, 2017January 14, 2021

2016 is in the books and a new year starts. Many of the clients I start working with are so busy working IN the business, they don’t take a step back and work ON the business. Have you had the experience in your business where you can’t see the forest through the trees? Here’s a…

Financing

The Business Owner’s Cheat Sheet: What Are My Financing Options?

ByBill McDermott January 5, 2017January 14, 2021

It seems like there are almost as many lenders with financing offers as there are restaurants, but if that’s the case, why is so hard to find financing for your business?

Forecasting and Budgeting

4 Tips for Business Planning in 2017

ByBill McDermott December 21, 2016January 14, 2021

As we close the books on 2016, there are likely some things that went very well and some things you would do differently. We start to look ahead at the possibilities for 2017 and what we might start, stop and keep doing. To get the thought process started, here are 4 things you must include:

Banking

5 Things You Must Know About Loan Covenants

ByBill McDermott December 6, 2016January 14, 2021

We’ve closed several commitments for lines of credit, term loans and mortgage loans for equipment and real estate. When reviewing your term sheets or commitment letters, after you go through the borrower, loan amount, rate and fees, collateral and guarantor section, you’ll end up at a section called covenants.

Forecasting and Budgeting

Budgeting for 2017-How do I Improve Operational Efficiency and Effectiveness?

ByBill McDermott December 1, 2016January 14, 2021

Many closely held businesses are seeing significant increases in revenue despite slow overall economic growth. With those increases, pressure can be created on people and systems to the point where you’re confronted with finding quality people and investing in systems to support your growth. Those investments of people and systems may have come at significant…

Acquisitions

3 Things You Must Know About Acquisition Financing

ByBill McDermott November 16, 2016January 14, 2021

I have several clients that are involved in business acquisitions. With a sluggish economy, many are attracted to the opportunity to acquire business versus grow organically. If you’re deciding to buy a company, here are 3 things you must know about financing the acquisition.