Mistakes to Avoid and Tips about Small Business Financial Statements – Small Business Show 138

Mistakes to avoid small business financial statementsHow important is it to understand and review your Small Business Balance Sheet, Profit and Lose Statement and Cash Flow Statement and how often should you be doing it? Join us today on episode 138 of the Small Business Show for our thoughts on these issues and more!

Your financial statements are a window into your business. Failure to understand and review them frequently can lead to some massive headaches (take it from our own experiences!). On today’s show, we discuss where to get help in understanding what the data in your financials means and how to spot red flags that can be addressed early, before they become major issues. We then discuss the pitfall of focusing solely on Revenue instead of Cash flow that is the blood of your business. Many “profitable” Small Businesses have closed up shop for lack of cash.

Then it’s time to roll out the idea of sharing your financials with your employees – in ways that protect your information but help to explain just how your Small Business makes money and where that money goes. There’s no doubt that your employees think your making more cash than you actually are, so it’s important to let them in on the data that shows how much it really costs to run your company.

Finally, we discuss how often you should be meeting with your accountant – definitely NOT just at tax time.

Join us for these topics and more and then click over the the Small Business Support Group to comment and provide your own tips!


Resources mentioned on this episode:

The Balance: Guide to understanding financial statements
QuickBooks: Warning signs in your financial statements

The Balance: How to prepare a Cash Flow Statement

Small Business Website Names and the Exciting World of Credit Card Merchant Processing – Small Business Show 137

small business credit card processingShould you be worried about only using a .COM domain name for your Small Business? How do you deal with coming up with a domain name if your Small Business name is not available as a .COM web address? Join us for episode 137 of the Small Business Show to find out what longtime, serial Small Business owners Dave Hamilton and Shannon Jean think about this and much more.

We then jump into a riveting discussion about old-school merchant credit card processing vs. newer solutions from Stripe, Square and Paypal. Dave shares his story of having to dig deep into actual paper reports to find out just how much his business has been getting charged and what roadblocks are being put in his way to keep his customers ongoing, subscription based payments intact when he changes processors.

In the end, we agree with Paypal COO Bill Ready when he says “Talking about payment processing just for the sake of payment processing is just not that interesting.” The discussion needs to be about how transparent, contextual and portable can payment processing become.

Listen in and then visit the Small Business Show Support Group on Facebook to ask your questions or comment!



  • 00:00:00 Small Business Show #137 September 20, 2017
  • 00:01:00 The concept of limited willpower
  • 00:03:04 Todd-URLs for your Company name 
  • 00:07:25 Changing Merchant Providers
    • Traditional gateway/bank processor vs. Stripe, Square, Paypal
  • 00:11:06 The power of printing reports on paper to find out what’s going on
  • 00:13:07 Watch the numbers!
  • 00:15:27 Authorize.net tries one last time to screw Dave
  • 00:17:50 Watch out for old-school, handcuff business models
  • 00:23:19 Payments should be a boring thing, with the price going down
  • 00:24:54 SBS Outtro

Why You Should be Attending Small Business Conferences and Let’s Get Vulnerable – Small Business Show 136

cNow Paypal Conference and The ProfitDo you take the time out to attend Small Business conferences and trade shows? Would you like to make some powerful connections, meet some great people and renew your energy? Listen in to episode 136 of the Small Business Show to find out how you can have all this and more!

Shannon just returned from the Paypal cNow conference in Chicago and he’s ready to talk about the people he met and what he learned. The conference included roughly 50 Small Business owners from across the country that got a chance to meet Paypal, Braintree and Venmo executives to see their latest “Contextual Commerce” payment products and sit in on some excellent Small Business discussions.

Dave and Shannon spend some time discussing the power of attending these types of events and why you should be seeking them out as part of your business development system and the building of your personal brand. You’ll learn how to engage with the speakers, make long term connections and how to work your way onto discussion panels and to ultimately become an invited guest.

Shannon also discusses his meeting with Marcus Lemonis from The Profit and why Marcus thinks that we all need to be more vulnerable when managing our employees, customers and suppliers. We wrap up the show with a discussion of “handshake deals”, Working Agreements and how to sniff out the people that just want to make you their race horse.

Join us on this episode of the Small Business Show for all this and more! After you listen, click over to our Facebook Small Business Support group to ask questions and comment on the show.


  • 00:00:00 Small Business Show #136 September 13, 2017
  • 00:00:43 Paypal cNow (C for commerce) conference in Chicago
  • 00:03:46 The power of attending conferences
  • 00:09:12 Don’t give in to feelings of inadequacy
  • 00:10:55 Engage when you’re there
  • 00:13:02 Contact us! feedback@businessshow.co
  • 00:13:14 Marcus Lemonis from The Profit
  • 00:15:05 The Most Important Word in Business
  • 00:18:03 Digging into vulnerability
  • 00:20:34 Confidence erodes empathy
  • 00:22:07 Be careful using other people’s tools
  • 00:24:36 Lack of confidence… breeds lack of confidence!
  • 00:26:10 Maybe “we’re struggling here” is OK to say
  • 00:28:47 Handshakes vs. Lies
  • 00:31:50 Working agreements
  • 00:34:20 Beware the pitchers!
  • 00:37:12 SBS Outtro

Tips for Running Your Small Business from Home – Small Business Show 135

running your small business from homDo you run your Small Business from your home? Are you tempted to wear sweatpants everyday and move your desk close to the refrigerator for convenience? Join us today on the Small Business Show to get some great tips on how to stay motivated and disciplined while working from home.

Long-time home office Small Business owner Dave Hamilton answers questions today as Shannon transitions from going into the office each day (24-years!) to working out of his home. We discuss finding a routine that works for you, checking in with your remote employees or partners each morning and the power of regular video meetings in Google Hangouts.

We also spend time going over ways to manage remote interruptions, since no one can “see” that you’re busy when they ask for your help, using Slack reminders and the importance of actually combing your hair before you start work each day.

Join us for these topics and more and then jump over to the Small Business Show Support Group to comment and offer us your own tips about working from home.


  • 00:00:00 Small Business Show #135 September 6, 2017
  • 00:01:19 Blue… and Normal
  • 00:02:39 No office is a joy… until it’s not!
  • 00:05:47 Finding a routine that helps motivate and discipline your workflow
    • Slack: Good morning! Water Cooler
  • 00:10:41 Regular, Virtual meetings with your team or co-workers – facetime is important.
    • Google Hangouts, Skype, FaceTime. Keeping you connected
  • 00:12:03 Get More Done: 18 Tips for Telecommuters
  • 00:12:50 The Pomodoro Method with Bob Levitus on Small Business Show
  • 00:13:21 Recognizing that remote team members don’t know if you’re available and may contact you at the worst time.
  • 00:17:25 Slack Reminders to keep you (and your team) on task when you are tied up and need to come back later to review
  • 00:19:52 Get dressed. No Sweatpants! Comb your hair, bro!
  • 00:22:42 Set clear boundaries and work hours for family and friends
  • 00:25:21 Use the kitchen wisely!
  • 00:28:59 Watch that your routine doesn’t become a rut
  • 00:30:00 Make yourself accountable to YOU
  • 00:31:26 SBS Outtro