Podcasts about OPEX

Re-releasing a DAT listener favorite! Chris Sands and Brent Saunier are on the podcast to talk about the hottest topics in the dental accounting world. Founding partners of Pro-Fi 20/20, these dental CPAs chat with Kiera about how to reduce overhead and expand the number of patients coming in, expense metrics from the hundreds of offices Pro-Fi works with, a tax rule you NEED to live by, what to stay away from financially with your business, and a ton more. Pro-Fi 20/20 is an accounting business that the Dental A-Team recommend. This episode is a goldmine of information from two fellows who know what they're talking about — especially with regard to the dental industry. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: Kiera Dent (00:00) Hello, Dental A Team listeners. This is Kiera. And today we are bringing you something so special. I am so excited because this is one of our most popular episodes from the archives. Whether you're hearing this for the first time or catching it again, I am so excited because it's jam packed with a ton of takeaways that you can start using right now in your practice. We have released thousands, literally thousands of episodes. And I wanted to start bringing a few of these amazing episodes back for you. So I hope you enjoy. And as always, thanks for listening and I'll catch you next time.   on the Dental A Team podcast.   speaker-0 (00:31) today I wanted to bring on two special guests. These are actually CPA in the CPA world. Believe it or not, Dental A Team actually consults this company. So we definitely love them. They went a step above most CPA companies and they really wanted to get to know the ins and outs of the dental world. So I'm super jazzed to bring them on and to just have them dive into some of the hot topics in the accounting world. ⁓ two people that I trust and recommend heavily. ⁓ I   They are one of my top three CPA firms that I refer and recommend constantly. So I'm excited to welcome Chris and Brent from Pro-Fi. How are you gentlemen today?   speaker-1 (01:06) Awesome, Kiera. Thanks so much for having us. We're excited to be with you.   speaker-0 (01:10) Yeah, absolutely. Brent, how are you doing today?   speaker-2 (01:12) I am doing great. I appreciate the invite. I'm looking forward to this 30 minutes with you.   speaker-0 (01:17) Yeah, absolutely. Well, who knows? We'll see how long this ends up going, guys. Brent, can't put a time on us. It could be dangerous zone.   speaker-1 (01:24) You're lucky he said he's doing great because we're in the heat of extended tax season, so he's kind of in the trenches. Lucky he's in a good mood.   speaker-0 (01:32) I know Tiffany has been trying to get back out to you guys to see you and Beth you heard this awesome rock star in the company She keeps saying like tiff. It's like extended tax time or it's this or it's that deadline I'm like, my gosh, you guys just have I think you're secretly adrenaline junkies of CPAs even though you don't come across that way But I think you love it cuz tax season I feel is just like adrenaline rush like trying to get to the deadline. I just can't imagine that stress like   Every quarter every year you just hit it. So props to you guys. That's not my world but super jazz to have you guys on here. ⁓ so Chris let's dive in I know there's some things so we're gonna kind of hit on overhead we're gonna talk about some taxing some Some things to be aware of i'm just so excited because this is a world I don't know and I do purposely bring really really talented and educated cpas and financial advisors onto the podcast because I'm we have a three-fold approach in our company. It's focusing on   Money and finances making sure your business is profitable you as a person and as an individual and then systems and teams top to bottom So I am big I think as a business owner. I wasn't profitable when I first started. I didn't know how to look at my numbers I didn't even know what the heck over influence. I was like googling how to figure it out So i'm just jazzing you guys are here. So Chris kind of take us away I know you had some great topics for today and i'm excited to just   Rift a little bit with you, dive into these things, things that are really tangible for our practices now, especially where you guys work with hundreds of offices across the nation. Lots of good data to be pulling out for our practices listening.   speaker-1 (03:04) Sure, well, ⁓ Kiera, I think that there's a lot of discussion around, does the DSO world seem to do a better job with overhead than the private practice world? I think a lot of private practice doctors are wondering that, they're frustrated or how do I get my overhead down? And a lot of times, I think when you focus on expenses, you tend to attract expenses. And in our world of accounting, I will often tell doctors that, ⁓   Accounting cannot make you money, it cannot generate revenue. The expenses part is the easy part for us that we can work on trying to reduce some things, but you either have a revenue problem or an expense problem. And in most cases it's actually, you creating enough revenue on your fixed expenses? And most of dentistry doesn't understand how simple that is to scale the dental business model when you look at it from a high level.   You scale a business and reduce overhead with doctor production. Okay. And so that means you need enough patients to see the practice that I worked in from my experience was 40 to 60 new patients a month per doctor, per full-time doctor. And it means you need to be reinvesting enough into marketing. And I'll talk about that, that expense or reinvestment of marketing in a minute to get those new patients. And you need to be.   monitoring the phones that get answered properly and there's conversion rate of those inbound calls to appointments scheduled. And then the real job is case acceptance. Okay, and so here I am in an accounting firm coming on your podcast and I bet you didn't think I was gonna like be talking about case acceptance.   speaker-0 (04:46) was like, wonder we didn't talk about all your time. I'm just kidding.   speaker-1 (04:49) So, know, dentistry is really the product that's being delivered. And if you're ethically diagnosing the need and creating the treatment plan, your job is to help the patient understand the urgency and necessity of fixing the problem and paying you to do that work. So your job isn't really the dentistry itself, it's case acceptance.   And your first task is to become great at case acceptance yourself as a practicing clinician. But then the real task as the owner is to be able to teach other doctors to become good at it. So I think, you know, the only the only variable overhead that the dental business model has is paying doctors a percentage of the dental collections that they create. And then you have labs and you have supplies.   associated with the dentistry that's delivered. those expenses are variable. They track with the amount of dentistry that gets done. Everything else is fixed overhead when you really think about it. Marketing is fixed and it only changes based on your choosing. Your team expenses are fixed and they only change when you hire or fire. Your rent and facility costs are fixed. Your equipment costs are fixed and only changed by your choosing. And the various required admin costs, they're all pretty much fixed. They only change by your choosing.   So if you can create more doctor generated collections with the same team and fixed expenses, your profit margin goes up, your percentage overhead, your percentage overhead to collections ratio goes down. Okay. And so I guess we see most private practice or single, should certainly say single location, solo doctor practices. We see them failing at this because they choose not to reinvest enough.   back into the business, into that marketing for new patients. They're not monitoring the phones. They're not training their team. They're not training their doctors on case acceptance. And they're too closely focused on just the clinical delivery of the dentistry. Don't get me wrong, that's required, but that's not what makes you successful or financially successful. So I can give you ⁓ some generic ranges for expenses, but the real thing is that   You know, the real way to scale a business is to generate more revenue on the same overhead. That's kind of the definition.   speaker-0 (07:20) And isn't that basically then probably the DSO model because they have lower fixed costs per se. They've figured out how to have centralized billing, centralized call center, centralized. So many things centralized that they don't need all these different things. So solo practices, if I'm understanding correctly, they've got all the costs associated, but they only have X number of revenue where when you start to add in those multiples of practices,   That's where your fixed costs, it's going, yes, of course your fixed costs will increase a bit, but I mean, I do know our fixed costs did not go up that much more when I added our second practice to it because I already have my base of fixed costs there and then we're just able to add more revenue. Is that kind of what you're saying? Am I understanding?   speaker-1 (08:01) Yeah,   I mean, you know, that, part about centralizing is, know, when you, when you do have multiple locations, I would say three or more, then you can consolidate the amount of team that's working the front desk into one location. Instead of needing three to five team members at the front desk in every office, you may only need three to five team members for all three offices. You're having one of the best things by the way, as kind of an aside, one of the best things that private practices can do as they grow is to get those phones off the front desk. You know, let.   speaker-0 (08:20) Right, right.   I agree.   speaker-1 (08:30) You know, like there needs to be, that needs to be in a totally separate admin space. But, ⁓ you know, I get asked that question a lot. Like my overhead is 65 % and how can I afford to hire another associate doctor and pay them 30 or 35 %? Well, you know, that doctor is going to create new collections. That's the point. It's not to give them your patients. It's to grow the number of patients coming in that, that you as one doctor maybe are stressed.   and you hire the next doctor and you've got to continue to invest in the marketing to keep your job as the owner is keep the chairs full, right? As long as the chairs are full, if that associate doctor is ethically diagnosing like you are, if you guys have a ⁓ clinical standard of care in your practice, if you guys talk about how you treatment plan and your treatment planning the same way, that's all required. But here's the real test. You know, how do they connect with people? How do they, how do they,   establish a relationship, establish trust and get them to move forward with that treatment. So I think dentists hate to use this word in dentistry, but the job is kind of sales. You know, if you believe in your product of dentistry to solve this need and like, again, if you diagnose decay and they don't get rid of it, you failed. I could go on a tangent on that, but the new doctor will bring new collections and you might have to hire at most, you know, an additional   speaker-0 (09:46) Yeah.   speaker-1 (09:55) Assistant or two and that would be a new fixed overhead. You would increase your fixed over it slightly But other than that the doctor covers all their costs with their their percentage pay the labs that are associated with it that the supplies are associated with it and You should net somewhere in the ballpark of 40 to 50 percent on the new collections they create and that that just adds to your profit Because all the other fixed overhead stays the same   speaker-0 (10:19) So I think there's a few things on there of like, I just, think it's a matter of realizing a lot of people bring on associates though, because they're tired, they want more free time. They don't want to be working as much. And I think it's important to clarify that if that's your model, that's totally fine. Everybody knows on the deadline team, I am not somebody who judges. I think everybody has their own personal path.   And so whatever jives with you and resonates with you. So if you're wanting to bring on an associate to have more free time, to not have to produce as much, fantastic, but realize that that overhead might not trickle down because now you're kind of replacing your cost with an associate that you're paying. And some doctors I know don't take as much pay as they would pay an associate per se, which to me, I think is a somewhat failed model. I'm really big on prepping and preparing for that associate, paying yourself as if you were an associate. So you know, these costs before you bring on an associate.   ⁓ but I really think it's important to note that because like you're saying that overhead will go down as long as the doctors are producing. And as long you're able to bring on that other doctor and have them produce, cause they should cover themselves. I definitely agree with that. ⁓ also I'm sure people are saying, yeah, but Chris, like in order to bring on another associate, I'm going to have to build out ops. That's a huge cost and expense. So I am curious, what have you guys found in Brent? You might have some answers to this Chris, you might. ⁓ but if an office is having to say, build out two more ops.   in their practice to be able to bring on an associate, how long does it usually take when you're doing build outs for that cost to be recouped and start being more profitable? Because oftentimes I do think that that gets into the problem with a lot of doctors is they're constantly building more to bring on these other doctors. So they're always adding more and more expenses. Like when do they ever break even? So what have you guys seen with build outs and different things like that of that break even point? How long should they plan for it to not be as profitable?   speaker-1 (12:09) Okay, I'm gonna give you a lot of answers on this. So number one, we use a metric called revenue per chair. So, you know, every, you   speaker-0 (12:17) What   do recommend? What do you guys recommend per chair?   speaker-1 (12:19) So yeah, everyone has a space and you have only a fixed number of spaces or operatories you can have in it. And there's only a fixed amount of time and days and hours and a number of doctors that you have. And revenue per chair capacity, we see a range between 25,000 to 40,000 per chair per month. And it does not matter when you do this. This is just, take collections and divide it by the number of chairs you have. ⁓   This does not matter how many chairs are for hygiene or how many chairs are for dentistry. That's your choice. Actually, you know, there are models where every chair can do everything and the patient never, but the 25 to 40,000 at 35,000 of revenue per chair, you're running fairly efficiently and you're going to need to be planning to expand. You're going to start to run out of space. So that's our metric first and foremost. And so if somebody tells us, well,   speaker-0 (12:53) Sure.   speaker-1 (13:09) I've got four chairs right now, but I have space for seven. I haven't built out the other three. I tell them, you don't need to build out the other three until you're approaching that $35,000 a month of revenue per chair. Question you asked, how much does it cost and when do you recoup that? So in my experience, typically it's around $25,000 per ⁓ operatory to equip it, assuming it's already plumbed. ⁓   after you just take that number and say, so let's say you were equipping a few operatories, so $50,000, you ⁓ essentially, your cost of the doctor plus the lab and supplies should max out at 50%. Okay, now they have to be producing. So until you get them, they've produced over $100,000. All right, let me do it per chair.   They need to do over $50,000 per chair for you to get your costs back. After that, you're in the money.   speaker-0 (14:09) which I think is also smart because I don't know. think dentists kind of err on two different sides. Sometimes they're too slow to actually build out. They are so cost conscious and so concerned about that build up, about the cost of the chair, about all the other things that they're missing, that that one chair is going to generate several thousands of dollars of revenue. I've had a few doctors where I'll say, sure, no problem. We'll do a deal. I will happily pay for that one chair and you pay me all.   the revenue that comes through from that chair for the next three months. That's all I ask is three months. and I know I'm going to come out way ahead of you because it will generate and it will produce, especially in high producing practices. So I think so often people are just so scared to do those build-outs because they see the cost or they do the flip side where they believe like, if we build it, they will come and they're overly aggressive and they don't have necessarily the patient base or the doctors in play to be able to accommodate that. So   I love, I need to agree. It's either cut costs or increase your revenue. Like that's really overhead.   speaker-1 (15:12) One more way to think about it is, you know, if they have patients that are having to wait so many weeks or months to schedule out to come in. if you can calculate your collections divided by the number of patients seen for any given time, for year to date or for a full year, you can get your average revenue per patient. Okay. And if you know your average revenue per patient, you know how many either new patients or how many more patients you need to fill that chair to cover the cost.   Okay. So if your average revenue per patient was, you know, $1,500 per patient, um, and the cost of that chair is 25,000, just take 25,000 divided by 1500. And that'll tell you how many patients have to be seen in that chair before you pay for that chair. Sure. You're to be in the money, you know, it's in terms of the construction. That's another basically upfront, one time fixed costs that you're going to cover. And then all the future revenue that it's going to generate. So.   Maybe if you like, think before we end this topic on overhead, I'll give you kind some of our expense metric. ⁓   speaker-0 (16:18) Sure, yeah, absolutely.   Well, hang on, before you go into expense metrics, I want to bring up one piece that I think often gets missed, because you're saying like we're in the money. But I also want to bring up something that I really love to point out, and that is return on emotion. Some people don't want to bring on an associate. Yes, like as a business model, you can be more financially successful with an associate. Yes, you can, having more chairs, more build out, more practices. ⁓ But I also want to point out there is a return on emotion. There are sometimes   Bigger headaches, they're also sometimes less headaches with bigger organizations. I personally love to consult larger practices. The pettiness, the cattiness, the smaller drama is way less in larger practices or multiple locations. So like that drastically drops down. They figured it out. They're dialed into systems. But at the same time, I think it's important for people to assess that return on emotion. You might have a dreamy life. You might be doing exactly what you want and sure you could produce more.   But if you're off work at say two or three o'clock every day and you work two or three days a week and you're shelling and seven fifty to a million in profit, not a bad lifestyle. So I think it's also important to assess like what you ultimately want and what your return on emotion is before just saying like, I'm going to build because this is the way to do it. I think if you're looking at your practices as a business model, which I personally think a lot of us should look at it that way, ⁓ just to see what you what you ultimately want, what's your end game. And that's also where I love financial advisors of   Like what is your total term? Like where do you want to get? Does it make sense to grow? Does it make sense to stay where I'm at? ⁓ I think oftentimes we, we forget that return on emotion and how that is. We always think of like return on investment, but what does that return on emotion too? So just want to put a plug of like, I think everyone's on their own path, their own journey. Definitely agree. There are lots of ways that you can be insanely profitable and having multiple practices is a great, great, great business play. And you're able to help more practices. I'm all in favor.   You're gonna have multiple locations. Make sure you're doing awesome dentistry because sure, it can be very lucrative. Just be ethical because I think that plays out long-term. So Chris, with that, what are some of the metrics you guys look at? Because I agree, I love to hear people's metrics. I think we're pretty closely aligned with you guys on metrics, which is another reason I really love working with you guys and your clients.   speaker-1 (18:32) So I think if you ⁓ were to survey the Academy of dental CPAs and all of their, what you see them put out statistically, they're gonna tell you the metric of one to 2 % for marketing. When you go and you immerse yourself in the DSO world and their conferences and get to know what they're doing, you're gonna see more of an average of six to 8 % reinvestment into marketing. DSOs have a harder time with retention. They have more patients going out the back door. Private practices.   degraded retention, but they don't often invite enough people to the party. So we don't go by the one to 2 % number. think that's an area where people try to, they're trying to keep costs down. You know, your business is the greatest asset that you own that provides the greatest return and you have the most control over. So you should be reinvesting in it more than you reinvest in the stock market or anything else. So our metric for marketing is three to 8%. Private practices, like to see at least three to five.   I mean, excuse me, in GP practices, in specialty practices, especially like orthodontics, needs to be on the higher end. Team expenses between 20 to 30%. We certainly try to keep that under 30%. Team expense does not include doctors. Okay. So that's all of your, all of your, uh, your, your entire team, including a hygienist as well, but not doctors, uh, dental supplies somewhere five to nine, five to 10 % labs.   speaker-0 (19:36) Yes, absolutely.   speaker-1 (19:58) four to 7%. So again, those dental supplies and labs really should not be greater than roughly 15 % total. Rent and facilities, five to 9%. What does that mean? So if you have a high percentage in your rent and facility costs, if your rent facility is let's say nine, 10, 11%, that means you're probably not maximizing the space and getting the collections that is possible there. Again, using that revenue per chair metric.   When you're on the lower end, if you have 4 to 5 % rent of facility, means you're running very efficiently. You're probably going to be running out of space and need to expand or potentially relocate or get another location. And then there's general administrative costs somewhere in the range of 4 to 10%, depending on the practice type and what additional folks they have.   speaker-0 (20:48) Cool.   speaker-1 (20:50) That's it on everything.   speaker-0 (20:51) No, I love it so much because I think so often people don't look at their P &Ls and they don't even know what they should be targeting for. It's just like, well, do I have money left over or do I not? And then I don't know. like all of that combined should equal about 50 % there. Is that correct? Those are 50 % and then doctor pays 30 % to give a 20 % profit margin. And then you subtract debt services from that. that kind of your guys' model? That's what I've heard. It's what I typically recommend.   speaker-1 (21:18) Roughly. mean, yeah. You know, I, the most ideal is that I think when the average doctor starts to work with us, their profit margin is in the twenties, the 20 % range. our goal is to get them into the forties. Okay. And everyone does chase this like 50 % number, but I will tell you that eventually if you have to scale again, if you have to reinvest, that's the part like you're, drive yourself nuts. Would you rather have, you know, 50 % of 1 million or do you rather have 40 % of 3 million? Right.   You know, and that's that. So it's not always just about that overhead percentage. Uh, it is about if you choose to scale and you're, you're buying, you're reinvesting some of your, your overhead percentage, you're reinvesting some of your money to buy back your time. Like you said earlier, okay. Um, whether that's on multiple doctors or not, you know, being a slave to the chair is difficult and high risk to you as a business owner. It's one of the riskiest business models there is.   speaker-0 (22:12) Right.   I think that that's such a good point.   But guys, you don't know, can, Pro-Fi is fantastic. You can reach out to them, have them help you with your PNLs. Also your current CPAs, you can get a chart of accounts and give them these percentages and say, this is where I want it to be. Help me get there, give me some information because a lot of CPAs are not dental specific and they might not know these industry standards. And I agree with you. I also think it's important to think of growth years and also profit years. Some years you are definitely massively.   reinvesting into the practice and you might not be sitting at as high of an overhead, but you're doing it with the intent. Like when I bring on new team members, when you bring on new doctors, your overhead is going to go down. It should go down because you are investing and you're growing, but you need those people. This year on Dental A Team is a growth year. I am heavily bringing on new team members. My overhead is not as great as it has been in the past years. But if I, like you said, chase that X number of overhead and never invest in that growth,   I can't get to the next level of where I wanna go. So I thought that was really, really helpful. Thank you for that, Chris. And I know now we wanna spin over to Brent. Brent's been hanging out silently over there of some tax things. And I do love that you guys ying and yang on practice metrics because that's what we're all about. And then the tax world that I'm like, here's the thing. Here's my take on taxes. I am so grateful to live in a country where I get to pay taxes to have my own business. Like I truly think that is a massive blessing of the country we live in.   With that said, I also think it's my responsibility as a business owner to be as savvy as I can on taxes and not overpay on taxes because I'm just dumb and I'm not actually looking at strategy using smart people beyond myself to do it. So Brent, I'm so jazzed. Talk to us kind of about some tax things that you've been thinking of that your clients are dealing with.   speaker-2 (24:00) Yeah, absolutely. So I remember a few early evening calls with you and you're calling and saying help.   speaker-0 (24:06) It was in December last year, like literally right before the end of the year. And I was like, Brent, I owe so much dang money in taxes. Any ideas? It's fine, guys. It's fine.   speaker-2 (24:19) One of the foundations of Pro-Fi that we built it on is education. So we are very big believers in educating our clients to understand, first and foremost, how do you even generate taxes? So the number of conversations we have with dentists that just don't have a basic understanding is really astounding to me. So we first take an approach of, you have to understand how do you generate income tax? You generate income tax by the salary or W-2 you take.   and profit. The key thing here is it does not matter if you take a dollar of that profit out of the business, you still owe tax on the profit. So here, when you're looking at your P &L, let's say a doctor has a half a million dollars of profit and they choose not to take it home and leave it in the business, they will still pay tax on half a million dollars. I had a call today, the exact conversation is like, why didn't take any of the money home?   speaker-0 (25:18) It doesn't matter. were profitable brother, sister, like rock on. Happy day for you.   speaker-2 (25:23) You know, as Chris was alluding to, if you choose to reinvest in the practice, do marketing or other items like that that are deductible, that will obviously reduce your burden. The second thing, the second biggest mistake is don't underestimate your effective tax rate. So Chris and I have, we call it, I guess the golden rule or the 40 % tax rule. And that is geared towards over-preparing a business owner when it comes time to send in those quarterly estimates.   And I'll come back to that one in a minute, but the 40 % tax rule, if you have a pen, I would write that down because that is a rule to live by. And also ask your CPA advisor, whoever they are, whether it's us or your other another CPA, ask them before you make the decisions. So I got a call yesterday from a doctor in South Carolina. He's like, hey, I want to buy a machine that's going to cost me $85,000. My equipment rep said I'd get a 40 % tax deduction.   Just about that much.   speaker-0 (26:23) That was a clever salesperson.   speaker-2 (26:26) Yeah, they all do it. We love equipping reps. No badging equipment reps. But understanding, depending upon your entity type, whether or not you will be able to deduct that in the current year is a huge thing that you have to understand. Chris and I have seen so many doctors over the years that have come to us after the fact. And I think we've done a great job of educating, hey, I bought this equipment, it's $100,000.   When we do the tax return, it's like, you're not involved deducted. They're like, why not? The equipment reps that I could. So just make call your advisor before you do it. That's the best thing you can do for yourself.   speaker-0 (27:02) Well, and I, to that point, I just say like, you should have experts on your board as a business owner, people that you genuinely trust for taxes. And like you said, ask them, ask your rep about the best products and what they're seeing of results within the patient's mouth. Cause that's where they're experts. But I'm just going to put a massive plug, like, gosh, the number of dollars I have spent personally, because I didn't ask,   If we can save anybody even a couple of grand, like you're welcome. You're welcome. Just ask, ask before you do it.   speaker-2 (27:36) Right, absolutely. Then I kind of look at what are some things that you can do to make sure you're not blindsided by that tax surprise? ⁓ One thing we do is we always recommend in your business, you have to run multiple bank accounts. And one of those bank accounts is a tax savings account. Your business should fund and pay for your personal tax bill. So think about like ⁓ grandmother's cash envelope system.   create different buckets in the business, move the money out of your OpEx account because, know, like for me, if I have 20 bucks, $20 in cash in my pocket, I'm going to spend it. But if I put it away in the bucket where it's intended, it'll be there when I need it.   speaker-1 (28:18) My bucket, right?   speaker-0 (28:19) Yes, you can just send them my way this year Chris. It's fine Brent. It's fine I'll take him but Brent I want to speak so highly to that because ⁓ It really does help. I will also put a plug of like have really good financial planners and tax planners with you because I am actually really really good at saving money for taxes What I really get frustrated with is when it comes to December and I have been saving and I have been putting that away ⁓   And then they're like, Kiera, you owe an extra X amount. And I'm like, what the heck? I've even saved this. So that's where I also think it's really pro to have really good CPAs that are that actually no tax. So I am curious. You guys tell me the truth, because I don't know how this works. I'm not a CPA, but I swear every year I get a call December 1st and it's like almost a double what I've already saved for the whole year. And I'm a saver. Like I don't spend a dime in my business.   speaker-1 (29:14) call you get all year long, Kiera.   speaker-0 (29:16) It's not well, I have a monthly call with them and we even plan for taxes, but this year my quarterly taxes It's okay guys. I'm interviewing new cpas. It's okay. my cpn doesn't listen to the podcast I don't think if so, it's great. We've had a good run for several years But like that's where I get a surprise. Is it common? Should you be getting a surprise call on december 1st? If you've got good tax people, and you've been planning and preparing and putting money aside all year long is that   speaker-1 (29:41) As you answer this question for her and I would go over safe harbor estimates, but Kiera to set you up for what Brent's going to say. What happens is somebody tells you a number and you kind of start to operate like a zombie and you're like, okay, I put that number away, put it away and you did it. And you're like, okay, I put the number where you told me, but at the same time you're trying to grow your business.   speaker-0 (30:06) To that point though Chris I'm gonna like back on this because I think I'm actually a really smart business owner But every freaking year this happens. I'm trying to fix this and hopefully someone   speaker-1 (30:15) I think it has to do with your growth.   speaker-0 (30:18) I   overestimated what my growth would be this year. So I said I was going to be double what I was last year and we're coming in at about a 70 % growth of what I was last year. So I gave my CPA a 30 % extra window to project on me and we're still coming up a hundred, I'll say a different number, but I'm coming up more than I had saved.   almost three times as much as they had saved for me. cause I get burned every single year. So I'm like a squirrel with nuts and I put away for tax savings in my company because I never know what I'm going to owe. And it scares me. So with that said, I agree with growth. If you can, if you can project where you're going to go and you're having consistent quarterly meetings with your CPA, is it common to still have a massive like uptick in December? I would ask.   speaker-1 (31:04) No, it's not.   So look, to keep it simple, like, you know, I'm kind of talking on the managerial accounting side of things and Brent's talking on the tax side of things. If you're meeting with that accountant and you look at that bottom line profit, okay, you owe 40 % of that profit, whether you took it home or not. And then if you made any estimated tax payments, you can subtract those tax payments from that 40%. Okay. ⁓ And then you can apply some deductions and maybe bring the number down.   speaker-0 (31:24) Agreed.   I'm asking for a friend hashtag myself right now I mean I get better every year around taxes because I hate the surprise and I think most people do but I also wanted to point out I'm like I think I'm pretty savvy with business I talked to a ton of CPAs like this isn't like my first day running a business So and I'm happy to hear and with that 40 % So here's another thing that I've also which maybe I'm just dumb Maybe I'm just coming around the block to this so you guys can tell me ⁓ but it's 40 % of the profit correct like   And that profit also includes my W-2 as a business owner. So I've got to like...   speaker-1 (32:10) That profit is after your W-2. Hopefully your W-2, you have normal withholdings. Sure. you're like zero or one, you can kind of pretty much say, hopefully the federal and state taxes are all withheld from that for you. Right. have to worry about it. Okay. It's the profit that's left over after your W-2 and all the other expenses of the business you have 40 % on. So Brent, tell her about what happens at the beginning of the year.   When we talk, they those first estimates. think everybody starts to like, they get glued to the estimates and they never update them.   speaker-2 (32:41) Yeah, so a couple things. So, Kiera,   speaker-0 (32:45) Call   you in December, Brent. We're going to have this conversation in year two.   speaker-2 (32:49) Maybe we should start in January for next.   speaker-0 (32:51) I like that strategy is much better. I'm like I've even I started my tax meetings in July this year guys Like this is how much I'm paranoid and I'm like they're just shelling a ton on me again And I'm like how does it happen every year? I don't I don't understand so   speaker-2 (33:05) Here's a trend I noticed over the last four years. you know, there was in 2017, there was the Tax Cuts and Jobs Act, which changed the tax code. also changed. There's also been changes to the payroll tax tables. So I would take UW2, look at your federal tax withheld and divide that by your taxable wages in box one. More than likely, it's going to be in the 10 to 12 % range.   If you were in the 40 % tax bracket, you're already 30 % short on your taxes. Let's say you pay yourself $100,000. If you're 30 % short, that's a five digit dollar. So that's where I'd first start. And that is very, very, very common. You will not see any withholding in a W-2 being over 25 % unless you manually requested that from the payroll company.   speaker-0 (33:39) Right.   speaker-2 (34:01) bonuses or automatically taxed at 25%, but your regular payroll is probably in the 10 to 12 % range. So that's one reason it's happened. What Crystal's talking about, so let's say that we prepare your return in April. So let's say your 2020 return and every accountant will do what's called a safe harbor tax estimate, which basically says your estimates will be 110 % of your prior year tax.   speaker-1 (34:30) The IRS wants you to put 10 % more than last year away, like pay them in advance. They like you to do it quarterly because collecting money once a year is a bad business model.   speaker-0 (34:40) And it's a bad business model.   speaker-2 (34:42) So like Chris said, when a client gets those estimates, and let's say they're $25,000 a quarter, they are fixed on $25,000 a quarter. So what we do is with all of our clients in June and early July, we actually run tax projections or mock tax returns the upcoming year. We pull their year to date profit, we get all their deductions and we project out if that original safe harbor estimate has changed.   Then we do it again in November and early December to make sure that you're still on track and also looking for additional ⁓ tax strategies. But to answer your question from earlier, should you be surprised with a big number? No, not if you're doing proper planning.   speaker-0 (35:30) with like a little variance, but I just want to point that out because I think so many business owners get scared of taxes and this year, don't worry guys, it's on my vision board by the age of 36. I will be a tax expert. I look at it every single night. I have no desire to be a CPA, but I really think it's important as business owners to educate yourself on taxes and like you said to plan and to save for it because otherwise it's just this always surprise bill that creates stress. For me as a business owner, I know often I just feel like   I don't dare spend money because I'm gonna get hit with this big unknown. And so I'm like this girl, I literally have four tax savings accounts in my business right now. And they're in like four different business accounts, so my CPA can't see them all. Because I'm like, you come to me every year with this huge surprise and every year it's like double what I thought you were gonna say. And like I'm grateful to be very successful in what we do. However, I don't think business owners should be surprised, especially if you have a good CPA. So I just wanted to like find out like, that normal?   I feel like I'm on the anomaly, but good to know on that.   speaker-1 (36:33) Tax surprises cause cash flow problems.   speaker-2 (36:39) So Kiera, let me quantify that one of   speaker-0 (36:41) Guys,   don't worry. Everyone on the podcast, this is a Cura therapy session. You're welcome to be attending this. So we're glad.   speaker-2 (36:48) So can there be a tax surprise? Yes. The reason the tax price might happen is if you told your CPA, hey, I'm going to be doing these improvements and they're going to be done by December 31st. If in December you tell them, well, it didn't work out and I'm not going to have all these expenses. And yes, you're going to, you're going to get a surprise because you didn't, your plan didn't follow through. The other thing is talking about the separate tax account in the business. It's,   speaker-0 (37:12) That's fair.   speaker-2 (37:18) Absolutely recommended, but the most important part is you cannot spend it on anything but your tax bill. You cannot not rob Peter to pay Paul. That is probably the biggest mistake you could make is saying, well, I'll take it now. I have eight months to put it back in.   speaker-0 (37:34) That's like that makes my heart stop. I feel so stressed for people and also for anyone who wants to know like you I wish you could see the zoom right now with me Brent and Chris You know these guys love what we're talking about because Brent is literally getting like so excited and so animated talking about this So that's just when you know people are good at what they do I get so geek I'll geek out on dentistry and systems and like how we can help you and they're jazzing about some some tax benefits here So I agree. I think that if you aren't doing that, I also like the thought of 40 %   Do you guys recommend, because I know another piece to it, which I realized this year was like charitable contributions. I'm LDS. And so having charitable contributions, 10 % is something that I was like, that was funny. We didn't prepare for that. So that's like another check that I wasn't planning. And then also like SEP and 401ks. Do you guys have anything that you recommend for that of having a tax savings fund, but also building up those other funds and those payments that you'll be making to reduce your tax bill? Yes.   but those are also pretty big expenses, depending upon how your business does every year. How do you guys manage or navigate that? Or should I just be saving more? Because again, I'm like building these funds up to this, I've got four accounts, because I stress out about it.   speaker-2 (38:44) So Chris, I'm gonna let you take that one on the cashflow. It's really cashflow planning.   speaker-1 (38:48) Yeah, a lot of questions in there.   speaker-0 (38:50) Cool, like I said, this is why I podcast guys, because I can ask my own personal questions.   speaker-1 (38:57) In terms of okay, should you be doing okay. what do you want me to start a chair charitable chair?   speaker-0 (39:03) Just   like I think that a lot of people might get quote-unquote surprised at the end of the year because not only do we have a tax bill to pay, we have charitable contributions that we're paying. We also have 7401Ks. Like there are quite a few other funds that need to be paid out again to reduce our tax bills to help us. But those are also cashflow that you need to have on hand as a business owner to be able to front that money. So I've been also thinking that could be why other people feel like it's a surprise at the end of the year, just all lumped into taxes when it is just other pieces to help reduce that tax bill for you.   speaker-1 (39:33) if   something is important to you, then it needs a separate bank account. if charitable giving is important to you, I think you should have a separate bank account so you can visually see that you've got it ready to pay. And in order to make it tax deductible, it does need to be a 501C3. can't just be any random, say, it's... Right? So ⁓ when it comes to all of the retirement accounts, mean, ⁓ 401Ks and IRAs and simple IRAs and all of that,   speaker-0 (39:51) about last year.   speaker-1 (40:02) Roth, that's like the smallest fraction. That's like the, you know, the entry level league of the tax code in terms of savings. And it's, it's really kind of the stuff that the masses can do. I certainly think it's important to save and save for retirement. think when you're a business owner and let me say this, mean, upfront, I'm a contrarian. I think when you're a business owner, you have to be a contrarian and know that not everything applies to you the same way as everyone else. Sure. I, my bias is I have a much.   stronger tendency to say, you know, spend the money in your business or put the, I should say, invest, reinvest the money in your business for growth, because it's going, there's an asset value to that, to that business. need to learn what that is and what you one day can exit it for. And it creates, gives you the most, you know, income. ⁓ If you put money into a 401k or you put money into marketing in your business, you get the same tax deduction. So that's a question. If you're looking for like year end stuff, you know,   You could put the money into the, into the retirement plan, or you could prepay some expenses for next year. ⁓ You lot of people, think don't trust their business, which is weird because it's the thing you have the most control over, but they don't trust their own business. Typically it's cause they're not really great at managing their own cashflow and having discipline. And so they're, they're hesitant to invest the money in the business. And they'd rather go roll the dice and put it in the stock market. And at the time of this podcast recording, let me tell you.   We are in a recession. It has already begun. Everything is very high. Stock market's high. Real estate is high. Your business is one of the safest places to put your money right now. It provides you an inflation hedge, okay? And it creates revenue. ⁓ And it's tax deductions. I'm a big believer in putting the money into your business or getting another business. I think Brent can talk about, know, people ask us like, what are some of the largest   speaker-0 (41:47) Right.   speaker-1 (41:56) deductions you can play in. Like what, are the bigger things you can do outside of a 401k? Tax deductions. Generally speaking, the tax code rewards you for doing things that improve our economy. And that's primarily investing in businesses, you know, adding another location, employing people and commercial real estate, commercial real estate is a big one. Again, commercial real estate's really high right now. It may not be the perfect time to be buying or building. Cause all of the costs are really high.   save that cash, even if you have to pay some taxes, save the cash for liquidity for the tough times. when this recession happens, most practice owners are going to stop investing in their business, they're to stop marketing. And you got to do the opposite. That is the time where you can do all of that at its lowest cost. that's when millionaires are really made is during recession. So I'm going on a tangent now. You got me passionate   speaker-0 (42:50) No,   I like it. I like hearing it because I like thinking of other things. think so often you said it really well of business owners want to contract. They want to not reinvest in themselves. It's like, well, like let's put it in the stock market because that's what I heard that we should do. But I really do love that mindset. And that's why I love podcasting. That's why I love talking to different people. This is why I bring you guys on here because I purposely, intentionally bring different ways of thinking out there. You've got to make your own decisions.   But I'm a big like when people are zigging, I want to zag. So right now real estate's hot. Commercial's hot. The stock market's hot. Like I literally am sitting here just thinking like, here, just sit on some cash. Like, like you said, I might have to pay more taxes on it, but sit on that cash because you know, it's going to drop. And during that time, that's when you do the exact opposite of what everyone else is doing. So I really love that advice. And I think it's wise and it's prudent. I also love what you said, Brent, of having the 40%.   A lot of people say do 30%, but agreed a lot of dentists do tip into that 40 % tax bracket. And I would much rather over prepare than under prepare. Chris, to your point, I really love also having the buckets for like we said, charitable contributions, if you're going to do ⁓ 401ks, but I really, agree with you too. I think reinvest in your business. Look to see, I do end of year spending. I look to see what I could reinvest in, what things are gonna propel us the most. I look at marketing, I look at website rebuilds, I look at.   Different softwares that are going to propel us forward different ways to make our our practice more efficient What things are really going to invest in our company and our team? To make it and then I just do fun things like, know trips places I definitely don't get much ROI on that except for emotional ROI, but I know I know this is a longer podcast guys I really hope and I also hope team members listening realize that this is not just for business owners. I think that this is also   Individual tax prepping make sure you are preparing look for ways that you can reinvest in yourself What things could you prepare for what things can you build out? Do you have separate savings accounts for different things that you're going to maybe you don't have to save for taxes But guess what maybe one day you will be a business owner So teach yourself the discipline to save now to look for reinvestment. I also think is super valuable. So I want   speaker-1 (45:05) team members, for those team members, what side hustle can you create? What side of business can you create? know, and what, what commercial or what even residential property, rental property could you create to give yourself rental income? And there are deductions that come along with that. But if all you do is just do your day to day job, whether you own a business or don't own a business, you're not going to save anything in taxes, nothing significant. got it. You got to create some value in the world out there.   speaker-0 (45:29) Agreed. say deliver the biggest and best value. So you guys teased me. So I want to wrap up our podcast with some things to not be doing. You guys have kind of like a hit list right now of some things, some tips that a lot of us might be doing that are cracking down. I know I have been privy to some of these things as well. So take us away. We'll wrap this up with just some, some of that hit list of what not to do. ⁓ and   you know, as we get in there, thank you guys for sharing all that you have. Thank you for doing a personal session with me already. So I'm excited for the hit list now.   speaker-2 (46:01) So I would say the biggest one that I've seen is the fascination that doctors have with crypto.   speaker-1 (46:01) Go ahead, Brent.   speaker-0 (46:12) Brent, it's because we're bored. We don't know what else to do with ourselves, so we're like, why not throw a little into crypto?   speaker-2 (46:17) Here's the problem. So I have about a half a dozen doctors over last six months. They called me and said, Hey, I put $200,000 into the crypto market, Bitcoin. And I'm like, really? Where did you, where did you write the check from for that investment from the practice? Here's the problem. If that practice is an S corporation and they invest that money in crypto and they hit it big, they could potentially blow up their IRS S corp election.   and the IRS will take it away from you. So if you're gonna do investments, do not write the check from your practice. You can take the money home as a distribution, then put it into crypto, but do not do it through your business.   speaker-0 (47:01) This is a moment where I just had like a, I'm like, good. I'm glad I did that at least right. even knowing. Why is that?   speaker-1 (47:03) Sorry.   So that one, I mean, that one can cause some serious damage. ⁓ But the other ones that I think nobody wants to hear when they're listening to this, and I get in all these battles on social media, Facebook groups and all that. But the two things that come up over and over and over again that everybody's kind of cheating on and they're going to get busted on is number one, paying employees and especially dentists and hygienists, paying them as 1099 contractors.   This is going to get you in trouble not only with the IRS, but with the Department of Labor. And there are some significant penalties. There is a black and white 20 question checklist that the IRS provides. You can Google that. You can find it directly on the IRS website. And it goes through a checklist of yes or no questions to determine if you qualify to be a 1099 independent contractor or if you fit the requirements of a W-2. And to simplify it,   The main thing is the element of control who controls the schedule, who tells you which patients you're seeing and when who's providing all the materials and the tools and equipment. And 99 % of the time, anyone in dentistry falls under the category of an employee. Pretty much have to be a specialist that owns their own separate practice already coming in part time in order for you to 10 99 them. And if you're 10 99ing them, you're 10 and you have to do it to their business. The other thing that doesn't work is when, you know, they're like,   Oh, I'm an individual doctor. I'll just set up an S corp and you can 1099 my escort. The IRS is not stupid. Again, they're they're looking at what are your what is your role within that that place that you're receiving the income from the revenue from. So anyway, everybody hates that. But I'm telling you, I   speaker-0 (48:58) I   don't think it's a, it's not a good place to play with fire. Um, I have a really, really, really awesome unemployment lawyer, um, and employment lawyer. He represents Uber Lyft Red Bull. He's in, um, San Francisco. If you guys need him, he's amazing. Reach out to us. Hello@TheDentalATeam.com. Um, but he told me he said, Kiera Uber and Lyft, which I personally think I'm no lawyer guys. I'm not there. Uber and Lyft to me are the epitome of 10 99 contractors.   but they are, ⁓ they're coming down, they're cracking down on it. And ⁓ I have heard that it is no longer just a small offense. It's a pretty big offense if you misclassify. To me, really, I'm a risky person, but I believe in being smart and also paying people the way they should be paid. As much as it's not fun, we transitioned our whole company and I just think play that one safe because labor laws are not something to ever mess with, in my opinion.   speaker-1 (49:51) Yep. And you know, the government has shelled out a lot of money through this pandemic and they've got to collect it and get it back. And they're going to get that back from small business owners. And, ⁓ you know, our, our dependent care systems of Medicare and social security are very fragile right now. And that's the one thing they do not want you to screw with. And so they collect that money through W2 payroll. They're going to, they're going to force more and more than everybody's W2, especially in the occupation of dentistry. Second thing is the cars. Okay. Everybody wants to run their cars through the business.   You might be allowed to run a car through your business. It depends on what type of business you're in. If you're in real estate and you're showing houses and you're driving your clients around, you can probably write your car off through your business. But in dentistry, you're going to sit across the table from an auditor and they're going to say, what does a car have to do with the business of dentistry? The IRS tax code says that your business expenses must be ordinary and necessary to the business for them to be deductible.   What does the car have to do with the business of dentistry? How is a vehicle ⁓ justified as 100 % business use as a necessary use in order to do dentistry?   speaker-0 (51:00) What if it's a wrapped vehicle that's marketing?   speaker-1 (51:03) That's different. there are very specific guidelines in the IRS tax code about what is marketing for a vehicle. must be fully wrapped. It can't just be magnets. It can't just be stickers. But it has to be significant that's used for marketing. What we find is not a lot of doctors want to wrap their test up.   speaker-0 (51:23) Because they're ticked off with the patient that Ruekinaal didn't go super well and they're cutting people off on their drive home and you don't really want your flashy business to be that car.   speaker-1 (51:31) Right. I mean, and to make it legitimate, mean, the car has to be legally registered in the business name. It has to be covered under business insurance, not your personal insurance. The loan has to be under the business name, not your personal name. And there's a, you know, most people are not doing that. They're doing, they're buying it personally. They're just making the payment out of their, out of their business. And they think that they can deduct the whole thing. And this is not true. There's even greater scrutiny if the business tries to buy, if the dental business tries to buy a vehicle.   and depreciate it, take it as 100 % use. So I know people hate to hear that, but I would just caution everyone listening, stay away from 1099 and cars in your business. But everyone's.   speaker-2 (52:12) doing   it!   speaker-0 (52:13) I heard a really great quote one day and they said Kiera everything's deductible until you get audited and I was like That's really good advice. I appreciate that. So guys, ⁓ Chris and Brent. Thank you guys for coming on the podcast Thank you for being people that I can call Brent. Thank you for being my December, you know midnight hour friend I loved last year. You said care. There's really not much we can do. Maybe we should have done this in January. So ⁓   But truly, I just appreciate you guys helping so many doctors. know you help a lot of our clients. Shout out to those clients that we mutually work together. I love working with CPA companies. I think we're a good peanut butter and jelly together. We help grow the practice, make them more profitable. You guys make sure that their books are in line. Give us the guiding stars of what levers to turn to help the practices. You take care of the taxes. So it's a really good yin and yang and   I hope all of you listening today found a lot of value. Team members, look at this for yourselves. Get the side hustle. I hope this spurred some, some topics, some conversation. Team members, can also help your practices reduce that tax bill. look for ways that you can spend end of year, just different things. So I definitely think team members have a lot of play in this as well. So Chris and Brent, thank you guys so much. It's super fun. If people want to connect with you, ⁓ maybe they're done with their CPA. Maybe they just want to find out if.   There might be another option out there. How can they connect with you? I know you guys specialize in DSOs, larger group practices, but also the solo practices as well. How can people connect if they're interested?   speaker-1 (53:40) Sure, so check us out online at our website, Profi2020.com. That's P-R-O-F-I-2-0-2-0.com. ⁓   speaker-0 (53:47) You did   that because 2020 was such a great year that you guys want to remember. ⁓   speaker-1 (53:53) That marketing plan went out the window. It was 20-20 clarity to give you clarity on your finance.   speaker-0 (53:54) No.   I   just thought I'd throw it out there. So no one will forget Pro-Fi 2020. 2020 was most memorable year guys. Don't forget it. They don't want to forget it ever.   speaker-1 (54:07) We have tons of free videos, a lot of great content on there. Check us out on our YouTube channel, all social media, know, at Profi2020. We're very easy to find. ⁓ But we're managerial accountants. It's way different than financial accountants out there. Make sure you look up that difference and know what you're asking for. ⁓ And we always do free consultations for anyone who would like it.   speaker-0 (54:29) Awesome. Well, Chris and Brent, thank you again so much, guys. Go check them out, Profi2020. Chris and Brent, they are the owners of the organization. So super grateful for you guys coming on here.   Kiera Dent (54:38) I hope you all loved today's episode as much as I did. It is crazy to think that this many episodes have been released since we started the Dental A Team Podcast. And I started looking to say, my goodness, our listeners need to be reminded of some of the things they may have learned a year ago or two years ago or five years ago, because so many things in our practices weren't relevant back then when we heard them, but they are relevant today. And I would be doing you a huge disservice if I didn't re-release some of these episodes for you to remember, to refine.   to optimize and really truly if you ever need a topic or you're like, my gosh, I wonder if the Dental A Team has anything like this, go onto our website, TheDentalATeam.com, click on our podcast tab and you can literally search any topic. So whether it's overhead or hiring or firing or team morale or engagement or case acceptance or hygiene   onboarding or whatever it is, we have so many episodes for you. And so I am going to intentionally be   re-releasing some of the top best episodes for you, pulling back some of the ones that I needed to remember, some of the things that I feel for you to really, really relearn right now and to re-remember, or if it's the first time, welcome. I'm so happy you're listening to it, but I hope you truly enjoyed today's episode. I hope that you share this with somebody. I hope that you go and implement today because we only have one day. We only get today. And so making today the best that it possibly can be. If we can help you in any way, shape or form, reach out Hello@TheDentalATeam.com.   And as always, thanks for listening and we'll catch you next time on the Dental A Team Podcast.

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“I actually call myself – lovingly – the angel of death because I was not an angel investor. Yeah, I destroyed businesses and, in the process, wiped myself out financially.” – Mike Michalowicz I believe that the message in Mike Michalowicz' book, Profit First is both elegantly simple and powerful I've adopted most of these strategies over the past 6 months and my business has already become more profitable, and my cash-flow management is clearer and smoother than ever before. This interview of Mike is going to follow two parallel paths.  As a financial advisor YOU are a business owner AND you probably serve a lot of business owner clients. This interview will give you ideas to bring more value to your clients, and at the same time help you reflect on the profitability of your own business. Bill and Mike discuss: Profit First Mentality: Mike shared his personal story of financial reset, revealing how shifting your approach to “profit first” can change everything. Instead of waiting for profit at year-end, set it aside from every transaction – just like you pay yourself first in personal finance. Behavioral Hacks for Profitability: Discover the “small plates” strategy. Just as smaller dinner plates lead to smaller portions, breaking your income into dedicated accounts (profit, owner's compensation, taxes, OpEx) naturally guides prudent spending. Why Most Business Owners Struggle: Did you know 83% of small businesses are living paycheck to paycheck? The traditional formula – sales minus expenses equals profit – actually sets most up for failure. With Profit First, sales minus profit equals expenses, forcing you to run your business sustainably. Debt & Profit: Think you need to pay off debt before saving profit? Think again – profit is the muscle you need to build to sustainably pay down debt over time. Owner's Compensation vs. Profit: Mike Michalowicz clarified the crucial distinction: Owner's compensation is your salary for running the business. Profit is a bonus for taking the risk. Don't confuse or commingle these! Holistic Advising: Advisors, there's a massive opportunity in linking business and personal finances for your clients. Don't leave the business side to the accountant – address both for true financial independence. Commitment Devices: ! This is Powerful ! Setting up systems (like hiding your profit in a different bank account) creates “commitment devices” – behavioral nudges that help you stick to your plan, just like leaving your gym shoes on the toilet lid to get moving in the morning. Whether you're a solo advisor, own a small business, or even part of a larger firm, Profit First adapts. The sooner you start, the greater the impact.

In boardrooms across the world, the tone of executive conversations has shifted. Where once the dominant themes were growth, expansion and digital transformation, today the language is more cautious: resilience, cost control, supply risk, and operational visibility. The global economy is entering one of those periods where volatility becomes the defining feature rather than the exception. Inflationary pressure, supply chain disruption, energy shocks, and geopolitical fragmentation have created an environment in which corporate leaders are being asked to do something extremely difficult: spend less, but operate smarter. For many organisations, the largest opportunity to accomplish this goal sits in a place that historically received far less executive attention than product, finance, marketing or sales – procurement. Procurement has traditionally been viewed as an operational function tasked with negotiating prices and managing supplier relationships. But that perception is increasingly outdated. In an era defined by supply chain fragility and cost scrutiny, procurement is rapidly emerging as one of the most strategic levers available to the modern enterprise. And at the heart of that transformation lies a new generation of source-to-pay procurement platforms that promise something executives have long struggled to achieve: real-time control over how money actually leaves the business. When companies experience economic headwinds, the first instinct is usually to freeze hiring or cut discretionary spending. While those actions may deliver short-term relief, they rarely address the deeper structural problem – a lack of visibility into where capital and operational expenditure are truly going. Many large organisations still rely on fragmented purchasing systems, spreadsheets, email approvals and manual invoice processing. The result is predictable: hidden spending, duplicated suppliers, inconsistent contract compliance and a procurement function that struggles to provide accurate insight into enterprise wide expenditure. Source-to-pay technology is designed to eliminate that opacity. A modern source-to-pay platform integrates every stage of the procurement lifecycle into a single digital workflow, beginning with supplier discovery and strategic sourcing and continuing through contracting, purchasing, invoicing and payment. Instead of procurement existing as a patchwork of disconnected processes, the entire spend ecosystem becomes structured, trackable and measurable. This shift is particularly powerful when it comes to capital expenditure. Capex decisions often involve large, multi-departmental investments, infrastructure upgrades, manufacturing equipment, technology deployments that can stretch across months or even years. Without centralised visibility, organisations frequently underestimate the long-term financial impact of these commitments or fail to capture economies of scale when negotiating with suppliers. Source-to-pay systems introduce discipline into these decisions by standardising approval processes, linking procurement activity directly to financial planning, and capturing every data point associated with the investment. Executives are no longer forced to rely on retrospective reporting to understand capital allocation. Instead, they can evaluate spending patterns as they emerge, allowing finance leaders to align procurement activity more closely with strategic priorities. Operational expenditure presents a different but equally challenging problem. OpEx tends to accumulate gradually through thousands of small purchasing decisions made across departments. Software subscriptions, consulting engagements, marketing services, office equipment, logistics contracts, individually these costs may appear modest, but collectively they can represent a significant portion of an organisation's annual budget. The challenge is not simply the magnitude of the spend but the fragmentation of the data surrounding it. In many compan...

What if the biggest crisis in construction isn't AI adoption, it's that we hand over $100M assets with no instruction manual?In this episode of KP Unpacked, KP Reddy sits down with David Niewiadomski, former Turner Construction executive turned Shadow Ventures operator, to answer a haunting question: if your building could talk, what would it say? The answer isn't pretty. "You don't do scheduled maintenance. You didn't check the caulk joints before the warranty expired. You take me for granted." Dave spent 17 years in the contractor trenches, pre-con, estimating, project management, and walked away to solve the data handoff problem that makes every asset transfer feel like buying a car with no owner's manual.The conversation weaves between tactical AI workflows (how to automate bid leveling in two weeks, why Claude told KP he was "out of his depth" and should call Barry) and systemic industry failures. Why do cars come with organized manuals regardless of manufacturer, but $100M buildings get handed over with incomplete data scattered across expired Procore servers? Why don't architects visit existing hospitals before designing new ones? Why do facilities teams get involved after walls are already placed? And why, when KP's uncle kept every oil change receipt in a three-ring binder to maximize car resale value, don't we track building maintenance the same way?Key topics covered:Why IT departments are the #1 barrier to AI adoption, not capability, cost, or interest, just permissionsHow Dave would automate bid leveling in two weeks using Claude Cowork if corporate let him tinkerWhy pre-con departments are perfect AI targets: small teams, high expertise, Excel-heavy workflowsThe moment Claude told KP to escalate to Barry because he was out of his depth—and what that means for mentoring juniorsIf your building could talk: "40% of my caulk joints are cracking and my exterior warranty just expired"Why cars have consistent owner's manuals but $100M buildings don't, the automotive vs. construction data gapHow organized building data determines which deals asset managers skip during due diligenceThe CapEx vs. OpEx disconnect: design teams optimize construction cost, ignore 20-year maintenance nightmaresWhy facilities teams review drawings after decisions are locked and walls are already placedThe hospital prototype problem: architects don't visit 50 existing hospitals to learn what breaks and what costs too muchWhy grocery store GMs kept selling corporate-spec'd deli coolers on eBay, and corporate couldn't update specs fast enoughHow technology creates deflation everywhere (Blockbuster to Netflix, $20 CDs to Spotify), except constructionWhy RFIs and change orders eat 10-20% of contract value, and AI's first impact will be waste reduction, not bid pricesWhether contractors will pass 30-40% AI cost savings to owners (answer: no, they'll pocket it until competition forces pricing down)Why mid-sized GCs will adopt AI faster than Turner, fewer people, less federal red tape, more agilityThe union robotics challenge: layout robots worked in NYC, but full automation requires labor negotiationWhy institutional knowledge walks out the door with employee turnover, and Procore data disappears when subscriptions endThe three-ring binder standard: why we track car maintenance for resale value but not $100M building systemsIf you're an owner frustrated by incomplete building handoffs, a contractor wondering where AI automation starts, or a facilities manager tired of inheriting broken systems with zero documentation, this episode will make you realize the problem isn't innovation, it's that we never solved basic organization.Listen now.BuildingWorks & Brookwood Sponsors

Live from Morgan Stanley's TMT conference, our panel break down where AI is already delivering real returns—and where rapid advances are raising new risks.Read more insights from Morgan Stanley.----- Transcript -----Michelle Weaver: Welcome to Thoughts on the Market. I'm Michelle Weaver, U.S. Thematic and Equity Strategist here at Morgan Stanley.Today we've got a special episode on AI adoption. And this is a first in a two-part conversation live from our Technology, Media and Telecom conference.It's Thursday, March 5th at 11am in San Francisco.We're really excited to be here with all of you taping live. And we've got on stage with me. Stephen Byrd, he's our Global Head of Thematic and Sustainability Research; Josh Baer, Software Analyst; and Lindsay Tyler, TMT Credit Research Analyst.So, Stephen, I want to start with you, pretty broad, pretty high level. We recently published our fifth AI Mapping Survey that identifies how different companies are exposed to the broad AI theme. Can you just share with us some insights from that piece and how stocks are performing with this AI exposure?Stephen Byrd: Yeah, it's interesting. I mean, we've been doing this survey now, thanks to you, Michelle, and your excellent work, for quite a while. And every six months it is pretty telling to see the progression.I would say a few things that got my attention from our most recent mapping was the number of companies that are quantifying the adoption benefits continues to go up quite a bit. And to me that feels like that's going to be table stakes very soon as in every industry you see two or three companies that are really laying out quite specifically what they expect to be able to do with AI and lay out the math. I think that really is going to pull all the other companies to follow suit. So, we're seeing that in a big way.We do see adopters, with real tangible benefits performing well. But a new thing that we're seeing now, of course, in the market is concerns that in some cases adoption can lead to dramatic deflation, disruption, et cetera. That's coming up as well. So, we're seeing greater concerns around disruption as well.But broadly, I'd say a proliferation of adoption, that that universe of companies continues to grow, increases in quantification of the benefits. So, that is good. What's really surprised me though, is the narrative among investors has so quickly moved from those benefits which we've talked about into flipping that to toggle all negative, which I know some of our analysts have to deal with every day. The mapping work suggests significant benefits. But the market is fast forwarding to very powerful AI that is very disruptive in deflation. And that's been a surprise to me.Michelle Weaver: Mm-hmm. Josh, I want to bring software into this. Your team has been arguing that AI is actually good for software. And it's really something that you need that application layer to then enable other companies to adopt AI. Can you tell us a little bit about how much GenAI could add to the broader enterprise software market? And how are you thinking about monetization these days?Josh Baer: Of course. I think the best starting place is a reminder that AI is software, and so we see software as a TAM expander. And in many ways, even though this is extremely exciting innovation, it's following past innovation trends where first you see value accrue and market cap accrue to semiconductors, and then hardware and devices, and then eventually software and services. And we do think that that absolutely will occur just given [$]3 trillion in infrastructure investment into data centers and GPUs.There's got to be an application layer that brings all of these productivity and efficiency gains to enterprises and advanced capabilities to consumers as well. And so we see AI more as an evolution for software than a revolution. An evolution of capabilities and expansion of capabilities. LLMs and diffusion engines absolutely unlocked all of these new features of what software can do. But incumbents will play a key role in this unlock.And our CIO surveys really support that. Quarterly we ask chief information officers about their spending intentions, and these application vendors who we cover in the public markets are increasingly selected as vendors that companies will go to, to help deploy and apply AI and LLM technologies.So, to answer your question, we estimate GenAI could unlock [$]400 billion in incremental TAM for software; for enterprise software by 2028. And this is based on looking at the type of work able to be automated, the labor costs associated with that work, the scope of automation, and then thinking about how much of that value is captured typically by software vendors.Michelle Weaver: And you have a bit of a different lens on AI adoption. So, what are some of the ways you're hearing software customers using these AI tools and anything interesting that popped up at the conference?Josh Baer: To echo what Stephen laid out, I mean, all of our software companies are using AI internally, both to drive efficiencies, but also to move faster. So thinking about product. Innovation, you know, the incumbents are able to use all of the same coding tools and, you know, …Michelle Weaver: Mm-hmm.Josh Bear: … products geared to developers to move faster and more efficiently on R&D. So, they're doing more. From a sales and marketing perspective, a G&A perspective, every area of OpEx, our software companies are in a great position to deploy the AI tools internally.I think more important[ly], speaking to this TAM and expanded opportunity, is our companies have skews that they're monetizing. It might be a separate suite that incorporates advanced AI functionality. It might be a standalone offering, or it might be embedded into the core platform because the essence of software is AI and it, you know, leading to better retention rates and acceleration from here.Michelle Weaver: Mm-hmm. And Stephen, going back to you on the state of play for AI, we had the AI labs here and we heard a lot about the developments and what's to come. So, what's your view on the trajectory for LLM advancements and what are some of the key signposts or catalysts you're watching here?Stephen Byrd: Yeah, this is for me, maybe the most important takeaway of the conference – is this continued non-linear improvement of LLMs, which we've been writing about for quite some time. And just to give you an example, we think many of the labs have achieved a step change up in terms of the compute that they have, in some cases 10 x the amount of compute to train their LLMs. And that [if] the scaling laws hold – and we see every sign that they will – a 10x increase in compute used to train the models results in about a doubling of the model capabilities.Now just let that sink in for a moment. Let's just think about that. A doubling from here in a relatively short period of time is difficult to predict. It's obviously very significant and I think several of the LLM execs at our event sounded to me extremely bullish on what that will be. A lot of that I think will be evident in greater agentic capabilities.But also, I'd say greater creativity. It was about three weeks ago, three of the best physics minds in the world worked with an LLM to achieve a true breakthrough in physics – solving a problem that had never been solved before. A couple of days ago, a math team did the same thing. And so, what we're seeing is sort of these breakthrough capabilities in creativity. This morning I thought Sam speaking to, you know, incredible increases in what these models can do – which also brings risk. You know, I think it was interesting he spoke to, you know, the risk of misalignment, the risk of what these models are doing.But for me, that's the single biggest thing that I'm thinking about, and that's going to be evident in the next several months.Michelle Weaver: Mm-hmm.Stephen Byrd: So, you know, on the positive side, it leads to greater benefits from AI adoption. And to Josh's point that, you know – more and more the economy can be addressed by AI, I do get concerned about the risk that that kind of step change will create greater concerns about disruption and deflation.That causes me to think a lot about that dynamic. Interestingly, we think the Chinese labs will not be able to keep pace just for one reason, which is compute. We think the Chinese labs have everything else they need. They have the talent, the infrastructure. They certainly have the energy, power. But they don't have the chips.If what we laid out with the American models turns out to be true, I could see a chain reaction where the Chinese government pushes the Trump administration for full transfer of the best technology to China. And China could use their rare earth trade position to ensure that. So, that's sort of the chain reaction I've been thinking about.Michelle Weaver: Mm-hmm. So, let's think about then bottlenecks in the U.S. Power is still one of the main bottlenecks. We had several of the solutions providers here at the conference. So, what are you thinking in terms of the size of the power bottleneck in the U.S. and how are we going to fix that?Stephen Byrd: Yeah, absolutely. I am bullish on the companies that can de-bottleneck power, not just in the U.S., a few other places. Let's go through the math in terms of the problem we face and then the solution.So, we have this very cool – it is cool if you're a nerd – power model that starts in the chip level up, from our semiconductor teams. And from that, we build a global power demand model for data centers. We then apply that to the U.S.Through 2028 we need about 74 gigawatts of data centers, both AI and non-AI to be built in the United States. I don't think we'll be able to achieve that for lots of reasons. But starting from that 74, we have sort of 10 gigs that have been recently built or are under construction. We have 15 gigs of incremental grid access, but after those two, we have to go to unconventional solutions, meaning typically off-grid solutions, over 40 gigawatts of unconventional solutions.So that will be repurposing Bitcoin sites, which could be sort of 10 to 15 gigawatts. That'll be big. Renewable energy, fuel cells will be part of the solution. Gas turbines will be a big part of the solution. Co-locating at a few nuclear plants. I'm less bullish than I used to be on that. But when we net all that out, we think the U.S. is likely to be 10 to 20 percent short of the data center capacity that will need to be in.It's not just a power grid access issue, though, that's a big one. Labor is now showing up as a huge issue. Many of the companies I speak to trying to develop data centers struggle with availability of labor. Electricians being one very tangible example. In the U.S. we need hundreds of thousands of additional electricians.So, for any of your children, like mine, thinking about careers, you know, you'd be surprised [at] the amount of money that people are making in the infrastructure business that does feel like it's a labor shift that's going to have to happen, but it's going to take years. So, in that context, we had a number of the Bitcoin companies at our event here. And the economics of turning a Bitcoin site into hosting a data center are extremely attractive. I mean, extremely attractive.To give you a sense of that. Before this opportunity presented itself to these Bitcoin players, those stocks tended to trade at an enterprise value per watt of about $1 to $2 a watt. Then we started to see these deals in which the Bitcoin players build a data center and lease them to hyperscalers. Those deals – depends a lot on the deal but – have created between $10 and $18 a watt of value. Let me repeat that. 10 to 18 – relative to where these stocks were at 1 to 2.Now many of these stocks have rerated, but not all of them. And there's still quite a bit of upside. And what we've noticed is the economics that the hyperscalers are paying are trending up and up and up. Because of this power shortage that we're dealing with. So, a lot of exciting opportunities are still in the power space.Michelle Weaver: Great. Well, I think that's a good place to wrap this first part of our conversation around AI adoption and the state of play. We'll be back again tomorrow with Part Two, looking at financing and risks.To our panelists, thank you for talking with me. And to our audience, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris⁠⁠⁠ Email: ⁠⁠⁠podcast@ajfgrowth.com⁠⁠⁠Work with Andrew: ⁠⁠⁠https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠INTELLIGEMSIntelligems brings A/B testing to business decisions beyond copy and design. Test your pricing, shipping charges, free shipping thresholds, offers, SaaS tools, and more by clicking here: ⁠https://bit.ly/42DcmFl⁠. Get 20% off the first 3 months with code FARIS20.MOVE SUPPLY CHAINReduce your OpEx and create more leverage in your company with financial forecasting, AI, and offshore talent by visiting ⁠https://morestaffing.co/af⁠.

In this episode, Alan Dunne and Cem Karsan explore a market that appears calm on the surface yet increasingly unstable underneath. As indices move sideways, they discuss how options flows and structured products are reshaping market behavior, driving rotation rather than direction. From the weakening of former leaders to the rise of defensives, the conversation turns to what these shifts may signal about a broader topping process. They also examine the growing influence of AI narratives, political incentives, and global tensions, not as isolated shocks but as forces building pressure within the system. The result is a discussion about how markets evolve when structure, policy, and sentiment begin to move out of sync.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Cem on X.Episode TimeStamps:00:00 Intro to the Systematic Investor Series00:23 Performance check: CTAs strong, trend tailwinds03:13 Range-bound indices, but big dispersion and rotation03:45 Why options pin the index: dealer flows and vol compression05:42 Dispersion mechanics: idiosyncratic risk, falling correlation07:32 Rotation as a topping process: leaders fade, defensives rise09:54 OPEX and quarterly expiries: why timing windows matter11:56 The March support effect, then weaker flows into April17:02 AI narrative shock: anxiety, backlash, and policy consequences22:32 Populism versus deflation stories: why inflation returns32:43 Gold outlook: secular bull, but expect two-sided volatility45:45 Rates as “tectonic plates”: vol compressed now, release later50:23 Midterms, incentives, and the fight for control57:42 Liquidity loop: markets stop rising, collateral stops expandingCopyright © 2025 – CMC AG – All Rights Reserved----PLUS: Whenever you're ready... here are 3 ways I can help you in your investment Journey:1. eBooks that cover key topics that you need to know about In my eBooks, I put together some key discoveries and things I have learnt during the more than 3 decades I have worked in the Trend Following industry, which I hope you will find useful. Click Here2. Daily Trend Barometer and Market Score One of the things I'm really proud of, is the fact that I have managed to published the Trend Barometer and Market Score each day for more than a decade...as these tools are really good at describing the environment for trend following managers as well as giving insights into the general positioning of a trend following strategy! Click Here3. Other Resources that can help youAnd if you are hungry for more useful resources from the trend following world...check out some precious resources that I have found over the years to be really valuable. Click HerePrivacy PolicyDisclaimer

Rassegna stampa economico-finanziaria del 23 febbraio 2026, strutturata per macro-temi e basata sulle principali testate giornalistiche nazionali.INVESTIMENTI E MERCATITestate: L'Economia del Corriere della Sera / La Repubblica Affari & Finanza * Ritorno del Made in Italy: Le dinastie imprenditoriali italiane hanno investito 2 miliardi di euro in tre anni per riacquisire marchi storici finiti all'estero.   * Prada ha riportato in Italia Versace con un investimento di 1,25 miliardi di euro.   * Ariston ha acquisito Riello Group per 289 milioni di euro.   * NewPrinces (Angelo Mastrolia) ha rilevato Plasmon da Kraft Heinz per 124,3 milioni di euro. * Shopping oltre confine: Nello stesso triennio, le aziende italiane hanno investito circa 9 miliardi di euro in acquisizioni internazionali, per uno sforzo complessivo di 11 miliardi.   * Ferrero ha acquisito WK Kellogg Co. per 1,7 miliardi di euro.   * EssilorLuxottica ha rilevato il marchio Supreme per 1,36 miliardi di euro.   * Campari ha investito 1,14 miliardi di euro per Courvoisier. * M&A e Consulenza: Lo studio Tremonti Partners, in occasione dei suoi 40 anni, ha lanciato un nuovo brand focalizzato su operazioni cross-border e M&A, potenziando la governance e istituendo un comitato ESG.INDUSTRIA, AUTOMOTIVE E INNOVAZIONETestate: L'Economia del Corriere della Sera / La Repubblica Affari & Finanza / Il Messaggero * Artificial Intelligence Driven Enterprise (AIDE): Emerge il modello delle startup "AI-native" gestite da agenti intelligenti con organico minimo (es. da 50 a 5 persone).   * Investimenti IA: Google ha investito 100 miliardi di dollari su Gemini.   * Efficienza: Il mercato monitora la "disruption" nel risparmio gestito; Fineco e Banca Mediolanum hanno perso oltre il 9% in borsa l'11 febbraio per timori di disintermediazione da IA. * Industrial Accelerator Act (IAA): La Commissione UE presenterà il 26 febbraio un piano per favorire il "Buy European".   * Target componentistica: Per i veicoli elettrici, gli aiuti pubblici saranno vincolati a una provenienza UE dei componenti pari ad almeno il 70%.   * Settori chiave: Soglie previste al 25% per l'alluminio e al 30% per le materie plastiche nell'edilizia. * Space Economy: Alleanza strategica tra l'Europa (razzo Ariane 64) e Amazon Leo (Jeff Bezos) per sfidare Starlink.   * KPI: Amazon Leo ha 220 satelliti attivi (target 3.236) contro i 10.800 di Starlink. L'alleanza porterà 2,8 miliardi di euro al Pil UE entro il 2029.FISCO E NORMATIVATestate: Corriere della Sera / Il Sole 24 Ore / La Repubblica * Riforma della Giustizia e Referendum: Scontro politico totale in vista del referendum del 22-23 marzo sulla separazione delle carriere e riforma del CSM. Il Procuratore Antimafia Melillo critica le "criticità gravi" della riforma. * Dazi USA e Rimborsi: Dopo la sentenza della Corte Suprema USA che ha giudicato illegittimi i dazi di Trump, sono a rischio rimborsi tra 130 e 175 miliardi di dollari.   * Impatto export: FederlegnoArredo stima una perdita potenziale dell'8-9% sul mercato americano nel 2026 a causa dell'incertezza e del dollaro debole. * Golden Power: Cresce l'interventismo statale; nel 2024 sono state effettuate 727 notifiche di operazioni al governo.BANCHE E CREDITOTestate: L'Economia del Corriere della Sera / La Repubblica Affari & Finanza * Risiko Bancario:   * MPS: In attesa del nuovo piano industriale di Luigi Lovaglio. Utile netto salito del 17,7% a 2,7 miliardi di euro.   * Banco BPM: Crédit Agricole è salito al 20,1%.   * Generali: Partita aperta per il rinnovo del board; interesse di UniCredit per la crescita nell'asset management. * Risparmio Gestito: Record di raccolta nel 2025 per la consulenza finanziaria con 60,8 miliardi di euro netti.ENERGIA E GEOPOLITICATestate: Corriere della Sera / L'Economia del Corriere / La Stampa * Caro Bollette e Decarbonizzazione: Il Decreto Bollette introduce agevolazioni per gli energivori ma rischia di rallentare la transizione green favorendo le fonti fossili. * Regolamento Metano UE: L'industria petrolifera (Unem) avverte: le nuove norme del 2027 rischiano di bloccare il 95% delle importazioni italiane di greggio, con rincari della benzina stimati tra il 15% e il 30%. * Guerra in Ucraina (4° anniversario): Conflitto di logoramento. La Russia controlla circa il 20% del territorio ucraino. Mosca ha perso stimati 1,3 milioni di uomini tra morti e feriti.LAVORO, SANITÀ E FORMAZIONETestate: Corriere della Sera / Il Messaggero / Il Sole 24 Ore * Sanità Integrativa: Varata la prima norma per regolare un business da 52 miliardi di euro (45,4 mld spesa out-of-pocket + 6,8 mld contributi ai fondi). La vigilanza passa alla Covip. * Riforma Farmacie: Nuovi margini di remunerazione. Per i farmaci a basso costo (es. acido acetilsalicilico), il guadagno della farmacia sale dell'86%, con un aumento del costo per lo Stato del 31%. * Pubblica Amministrazione: Firmato il contratto per 400.000 comunali; aumenti medi di 140 euro lordi mensili e 2.300 euro di arretrati.EXECUTIVE TAKEAWAY (Insight per C-Suite) * Resilienza del Made in Italy: La riconquista di asset storici per 2 miliardi segnala una nuova fase di consolidamento delle "multinazionali tascabili" italiane e delle dinastie familiari, ora capaci di sfidare colossi esteri in fase di de-leveraging. * Paradigma AIDE: L'integrazione dell'IA non è più solo efficientamento, ma creazione di modelli di business con scalabilità estrema e costi fissi (OPEX) drasticamente ridotti; la minaccia di acquisizioni pre-emptive da parte delle Big Tech resta il principale rischio di mercato. * Rischio Regolatorio Energetico: Il "Regolamento Metano" 2027 rappresenta un potenziale shock di fornitura per l'Italia (rischio stop 95% greggio), imponendo una revisione urgente delle strategie di approvvigionamento e un'azione di lobbying a livello UE. * Sovranità Industriale UE: L'imminente Industrial Accelerator Act segna la fine del laissez-faire europeo, introducendo quote di contenuto locale (fino al 70%) che obbligheranno a una riconfigurazione delle supply chain globali. * Efficienza Fiscale e Welfare: La messa in sicurezza dei fondi sanitari integrativi (mercato da 52 mld) offre alle aziende opportunità per potenziare il welfare aziendale come leva di retention, riducendo al contempo il carico sulla spesa sanitaria pubblica.

In this episode, Jeff Mains sits down with Barbara Wittmann, a 25-year veteran of IT transformation who has pioneered the concept of "human infrastructure" - the invisible framework of trust, clarity, and collaboration that determines whether technology projects succeed or fail. Barbara shares her journey from mountain biking and logistics to SAP consulting, and how she discovered that most technology failures are actually people problems in disguise. She introduces her four-pillar model for preventing costly project detours, explains why people development should be a permanent IT budget line item (not a one-time HR initiative), and reveals how AI is raising the bar on what humans need to do best. The conversation explores psychological safety, shared mental models, limiting beliefs, and why wisdom drawn from indigenous cultures can help modern SaaS leaders build more resilient organizations.Key Takeaways[4:56] - Technology problems are almost always people problems - software can't fix misalignment, confusion, or teams that weren't brought along for the change[8:35] - Human infrastructure is the framework where departments work seamlessly together, end-to-end processes are understood, and people have artifacts to help them navigate complexity[10:14] - Shared mental models are critical - creating a high-level map of systems, data elements, and functions helps everyone align on what changes will impact[12:20] - People development should be an OPEX line item in IT budgets, not a one-time HR initiative - we upgrade servers continuously but treat people upgrades as "one and done"[16:15] - Empowering the middle layer of organizations can save about 20% on consulting spend because in-house people already have the knowledge[20:20] - The four-pillar model: Understand the problem → Condense it → Create a solution → Get people excited about it (most teams skip understanding the problem)[22:32] - The dual ecosystem approach: Train people in a cross-industry environment where they can practice without fear, then bring learnings back to their organization[25:53] - Once 25% of your middle layer adopts a new mindset, you see behavioral shifts ripple throughout the entire organization[29:00] - Indigenous wisdom teaches that everything is connected (ecosystems) and everything works in cycles - nature isn't "on" all the time[34:27] - Limiting beliefs often sound like "I can't do that, I've never done that before" - when your instant reaction is "no," pause and get curious about why[37:17] - AI should be seen as a coworker, not a competitor - the key is training our uniquely human aspects: emotional intelligence, sense-making, and asking better questions[39:38] - First step to building human infrastructure: Create psychological safety where people can voice concerns, and reconnect with your company's core mission and valuesTweetable Quotes"Most teams learn the hard way: Technology rarely fails because of the tools. It fails because the people aren't aligned to use them." - Barbara Wittmann"If your company is not really talking to each other as it is, a software is not gonna fix the issue." - Barbara Wittmann"We are upgrading servers all along, but with people upgrades, we look at it in a very old fashioned way. It's a one and done kind of thing." - Barbara Wittmann"AI models are evolving at the speed of light, and we are not upgrading our humans. What can go wrong?"- Barbara Wittmann"Your execution layer cannot delegate complexity anymore because they need to deal with it inevitably."...

What if sustainability in wastewater engineering wasn't a buzzword—but a fully operational, community-powered solution?In this episode of the Smells Like Money Podcast, host Suzan Chin-Taylor sits down with Pedro Ferreira, Regional Director for the Middle East at Quadrante, to explore how constructed wetlands are redefining wastewater treatment across arid regions.From Saudi Arabia to Oman, Ferreira explains how re-engineering nature through plant-based treatment systems delivers powerful results—lower energy consumption, reduced CAPEX and OPEX, minimal operator dependency, and strong community integration.In This Episode, You'll Discover:- Why true sustainability is a full-cycle model—environmental, economic, and social- How constructed wetlands mimic natural ecosystems to treat sewage, organic wastewater, and even oil & gas greywater- Why desert climates like Saudi Arabia and Oman actually enhance wetland performance- How solar energy and gravity-fed systems drastically reduce operational costs- Why the Middle East is becoming a global innovation hub for water pilot projects- How developments like Red Sea Project are closing the loop with circular water reuseUnlike conventional concrete treatment plants that demand high technical oversight and energy loads, constructed wetlands empower local communities. With agricultural knowledge rather than specialized Class A operator credentials, communities can sustainably manage their own wastewater infrastructure.Yes—wetlands require more land. But where land is available, they offer a resilient, low-maintenance, odor-managing, sludge-stabilizing solution that aligns engineering with ecology.This episode challenges engineers, developers, and policymakers to rethink wastewater design—not as industrial infrastructure alone, but as integrated ecological systems.Connect with Pedro FerreiraRegional Director, Middle East – QuadranteLinkedIn: https://www.linkedin.com/in/jpferreira30/Website: https://quadranteglobal.comI hope you find this episode as informative and as exciting as we have.Please let us know your thoughts about the episode!Connect with Suzan Chin-Taylor, host of The DooDoo Diva's Smells Like Money Podcast:Website: www.creativeraven.com | https://thetuitgroup.com/LinkedIn: https://www.linkedin.com/in/creativeraven/Email: raven@creativeraven.com Telephone: +1 760-217-8010Listen and subscribe here to your favorite platform:Apple Podcast - Google Podcast - Cast Box - Overcast - Pocket Casts - YouTube - Spotifyhttps://creativeraven.com/smells-like-money-podcast/ Subscribe to the Podcast:https://creativeraven.com/smells-like-money-podcast/Be a guest on our show:https://calendly.com/thetuitgroup/be-a-podcast-guestCheck Out my NEW Digital Marketing E-Course & Coaching Program just for Wastewater Pros:https://store.thetuitgroup.com/diy-digital-marketing-playbook-for-wastewater-pros#WastewaterManagement #Sustainability #ConstructedWetlands #MiddleEastEngineering #GreenTech #WaterReuse #CircularEconomy #Innovation #EnvironmentalEngineering #Podcast

Host Justin Lake interviews Carlos Linares, founder and CEO of FoodOpsIQ and Third Wish Food Services, about using AI and technology to empower frontline food-service teams. Carlos explains his global experience, the idea of "virtual OPEX," and how voice-enabled generative AI can augment workers in kitchens and service roles. They cover practical change management: designing with operations, running pilots, building trust, measuring baselines and KPIs, and keeping solutions simple to increase adoption. Carlos shares a smart-kitchen example that cut costs, improved safety and sustainability, and boosted staff engagement. The episode highlights a people-first approach to digital transformation, arguing that AI should elevate frontline workers and the guest experience rather than simply replace jobs. YouTube: https://youtu.be/HYIWYAOryDo Carlos' LinkedIn: https://www.linkedin.com/in/clinaresb/ Find more episodes of Frontline Innovators at https://www.skyllful.com/podcast

Matt Slykhuis is the CEO of Modern Fuel. Get 20% off a Modern Fuel writing implement with the code FARIS20.FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris⁠⁠ Email: ⁠⁠podcast@ajfgrowth.com⁠⁠Work with Andrew: ⁠⁠https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠MORE STAFFINGRecruit, onboard, and train incredible virtual professionals in the Philippines with my friends at More Staffing by visiting ⁠https://morestaffing.co/af⁠. MOVE SUPPLY CHAINReduce your OpEx and create more leverage in your company with financial forecasting, AI, and offshore talent by visiting ⁠https://morestaffing.co/af⁠.

Corrosion rarely announces itself as a "big water problem." It shows up as leaching at the tap, residual loss in the field, premature equipment replacement, and the slow, expensive erosion of decision-quality.  Pat Rosenstiel (CEO) and Wolf Merker (chemist/Chief Science Officer) of Great Water Tech lay out a system-wide view of corrosion control—starting with what changed in Flint from a technical standpoint and moving into why many utilities still struggle to meet expectations when standards and risk assumptions shift.  System-wide corrosion control starts with chemistry and consequences  A source-water change can shift corrosivity fast. If corrosion control does not adjust proactively, the downstream effects show in metal release and public exposure. Wolf stresses the distinction between the technical problem and the political challenges, then points to corrosion control as a solvable technical matter when it is treated as a system condition—not a single asset issue.  Why "phosphate-only" isn't the end of the story  Trace frames what most operators recognize: many municipalities use phosphate inhibitors to form a tenacious film and reduce corrosion. Wolf argues phosphates are "a little bit of old news" in practice and explains the approach Great Water Tech discusses with their German partners—using phosphates and silicates together in the right amounts to create a tighter separation between water and metal.  Barriers, biology, and the disinfection tradeoff  Wolf breaks corrosion drivers into three sources: chemical, biological, and electrochemical (dissimilar metal corrosion). He also ties corrosion to cascading operational decisions—especially disinfectant strategy. If residual loss pushes a system from chlorine to chloramine, Wolf warns that corrosivity can increase dramatically, and that corrosion can amplify the formation of disinfection byproducts as chlorine reacts with what is in the water.  What industrial water treaters should listen for  Pat connects the same barrier logic to industrial priorities—CapEx, OpEx, and lifecycle extension in closed systems (cooling towers, closed chilled loops, boilers). Wolf clarifies that closed systems require different product "flavors," while keeping the core concept consistent: the combined silicate/phosphate approach remains the best path he is aware of.  Listen to the full conversation above. Explore related episodes below. Stay engaged, keep learning, and continue scaling up your knowledge!    Timestamps    02:20 - Trace sets the tone for the episode: decision-quality improves when you "rethink the way that you think you know things," especially around tests and procedures   08:20 - Words of Water with James McDonald  11:00 - Upcoming Events for Water Treatment Professionals   18:22 - Interview with Pat Rosenstiel, CEO of Great Water Tech & Wolf Merker, Chief Science Officer of Great Water Tech  23:00 - Flint technical breakdown  27:30 - Corrosion control options  32:20 - Scale vs. Corrosion   43:40 – Algae Control Pivot    Connect with Pat Rosenstiel  Website: Great Water Tech | Water Treatment Solutions  LinkedIn: https://www.linkedin.com/in/pat-rosenstiel-a148952/   Great Water Tech LLC: Overview | LinkedIn     Connect with Wolf Merker  Website: Great Water Tech | Water Treatment Solutions  LinkedIn: https://www.linkedin.com/in/wolf-merker-a1b95284/    Great Water Tech LLC: Overview | LinkedIn    Guest Resources Mentioned   NSF/ANSI/CAN 60 — Drinking Water Treatment Chemicals: Health Effect   NSF — Drinking Water Treatment Chemicals Certification (NSF/ANSI/CAN 60) (how certification works)   ANSI Webstore listing (official standard access/purchase)  EPA — Lead and Copper Rule (regulation hub)  EPA — Lead and Copper Rule Improvements (LCRI) (final rule page)  EPA fact sheet — Tap Monitoring Requirements (LCRI) (sampling protocol changes)  Great Water Tech  Folmar (Great Water Tech) — corrosion inhibitor (phosphate + silicate blend)  Algae Armor (Great Water Tech) — nutrient-binding tool for ponds/lakes  EPA Distribution System Toolbox — Pigging fact sheet (PDF) (removing biofilm/scale/sediment from mains)  U.S. Bureau of Reclamation report page (chlorine vs chloramine impacts incl. corrosion/leaching discussion)  AWWA Opflow article (main cleaning techniques incl. pigging): AWWA's utility-facing perspective on cleaning options  Silicate corrosion inhibitors  Historical context for silicate–phosphate combinations    Scaling UP! H2O Resources Mentioned  AWT (Association of Water Technologies)   AWT Technical Training (March 2026)  Scaling UP! H2O Academy video courses  Submit a Show Idea  The Rising Tide Mastermind  Ep 422 Inside the Association of Water Technologies with John Caloritis Hach Water Analysis Handbook      Words of Water with James McDonald Today's definition is the smallest functional unit of a cooling tower that contains its own heat exchange section, fan or air-moving system, water distribution system, and drift eliminators.    2026 Events for Water Professionals  Check out our Scaling UP! H2O Events Calendar where we've listed every event Water Treaters should be aware of by clicking HERE.   

FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris⁠⁠ Email: ⁠⁠podcast@ajfgrowth.com⁠⁠Work with Andrew: ⁠⁠https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠RICHPANELCut your support costs by 30% and reduce tickets by 30%—guaranteed—with Richpanel's AI-first Customer Service Platform that will reduce costs, improve agent productivity & delight customers at ⁠⁠http://www.richpanel.com/partners/ajf?utm_source=spotify⁠⁠.MOVE SUPPLY CHAINReduce your OpEx and create more leverage in your company with financial forecasting, AI, and offshore talent by visiting ⁠https://morestaffing.co/af⁠.

Read the blog postOperational Excellence rarely fails because of a lack of ideas. More often, it breaks down when strategy, daily work, and improvement efforts operate in silos.In this episode, Mark Graban explores what it really means to take a unified approach to OpEx—one that connects strategy deployment, process discipline, employee-driven improvement, and leader-led initiatives into a single, coherent system.You'll hear how organizations move beyond disconnected spreadsheets, emails, and project tools to create visibility, alignment, and learning across all levels of the organization. Mark also discusses how platforms like KaiNexus support this work—not by replacing leadership or Lean thinking, but by strengthening the management system that makes continuous improvement sustainable.This conversation is especially relevant for leaders trying to:Bring strategy to life at the frontlineBalance top-down direction with bottom-up improvementCreate visibility without micromanagementTurn Operational Excellence into how the business actually runs

Parable is building an end-to-end intelligence platform that quantifies how organizations spend their collective time—the foundation for measuring real AI impact. With a thousand data connectors ingesting activity and log data across the enterprise software stack, Parable constructs proprietary knowledge graphs that size opportunities and measure outcomes in hard dollars, not adoption metrics. In this episode of BUILDERS, I sat down with Adam Schwartz, Co-Founder & CEO of Parable, to explore why 95% of CFOs see no AI ROI, how his decade running profitable businesses under resource constraints shaped his focus on inputs over outcomes, and why 2026 requires moving AI from CapEx experimentation to measured OpEx. Topics Discussed: Why the 95% CFO stat on AI ROI matters as an arbiter of truth, despite backlash Building knowledge graphs from activity data to quantify collective time allocation across hundreds of people The fundamental problem: enterprises lack quantitative frameworks for operational efficiency pre-AI Running parallel ICP experiments to achieve sales-market fit before product-market fit Why Parable has never lost a POC once leaders see quantitative baselines Market dynamics creating false signals—unprecedented curiosity without buying intent The demarcation between companies treating AI as product work versus those waiting for vendor solutions Why AI transformation demands century-old management structures to be questioned GTM Lessons For B2B Founders: Engineer disqualification in momentum markets: Market-wide AI enthusiasm creates pipeline illusion. Prospects will engage indefinitely for education without purchase intent. Adam's framework: "How do we get people to say no to us and not drag us along... They want to keep talking because they want to learn and they want to know what's going on and they are genuinely interested." In enterprise sales during category shifts, build explicit qualification gates that force prospects to reveal resource commitment or disqualify. Extended evaluation cycles feel like traction but destroy unit economics. Use go-to-market as ICP discovery mechanism: Adam intentionally pursued multiple customer segments simultaneously—different company sizes and AI maturity stages—to let data reveal fit rather than rely on hypothesis. His memo to the team: "We're going to go after these three, you know, many different sizes of companies in order for us to decide like, who we like best." The key insight: get to problem-market fit and sales-market fit validation before optimizing product-market fit. This inverts conventional wisdom but works when TAM is massive and the bottleneck is identifying who feels pain acutely enough to buy now. Qualify on organizational structure, not verbal commitment: Every enterprise claims AI is strategic. Adam's hard filter: "Who in the organization is responsible for AI transformation? And if you don't have a one person answer to that question, you're not serious." Serious buyers have a named owner reporting to C-suite with dedicated budget and team. Buying Gemini, Glean, or other point solutions isn't a seriousness KPI—it's often passive consumption of AI as a byproduct of existing software relationships. Look for companies doing five-year work-backs on industry transformation and cascading effects on their operating model. Target post-experimentation, pre-scale buyers: Adam discovered the sweet spot isn't companies beginning their AI journey—it's those who've deployed initial programs and now need to prove value. "The market of people that have started to build AI into their operating model or into their strategy in like a coherent way, there's a team, there's an owner, there's budget... those are the people that we really want to be talking to." These buyers understand the problem viscerally because they're living it. They do product work daily—talking to stakeholders, generating use cases, building briefs, triaging roadmaps. They need your solution to professionalize what they're already attempting manually. Build measurement into your category narrative: The AI tooling market has over-indexed on soft efficiency claims that won't survive renewal cycles. Adam's warning: "There is too much hand waving around soft efficiency gains... you're going to have to renew and you need NRR and I don't think it's going to be that usage of the tool internally by employees and adoption is going to be enough." The last decade over-rotated to "everything drives revenue" due to VC pressure. This decade requires precision: does your product save time, reduce headcount needs, or accelerate revenue? Quantify it. Partner with measurement platforms if needed. Adam's insight on Calendly is instructive—it clearly saves time, but most buyers can't quantify how much, which weakens renewal economics. // Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co // Don't Miss: New Podcast Series — How I Hire Senior GTM leaders share the tactical hiring frameworks they use to build winning revenue teams. Hosted by Andy Mowat, who scaled 4 unicorns from $10M to $100M+ ARR and launched Whispered to help executives find their next role. Subscribe here: https://open.spotify.com/show/53yCHlPfLSMFimtv0riPyM

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Plantd is reinventing engineered lumber by replacing trees with rapidly renewable biomass, scaling manufacturing technology that costs 100x less than traditional OSB production. With customers including DR Horton and growing demand across furniture, RV, and international markets, Plantd has attracted partnerships throughout the building materials industry. In this episode of BUILDERS, I sat down with Nathan Silvernail, Co-Founder & CEO at Plantd, to explore how his decade at SpaceX shaped his approach to building a capital-intensive hardware company that could transform the $65 billion engineered lumber market.   Topics Discussed Building continuous OSB production systems versus $500M batch presses used by incumbents Securing DR Horton, furniture manufacturers, and building material companies as early customers Managing the bifurcation between OPEX-intensive manual processes and CAPEX transitions to AI robotic vision systems Designing machines for 400,000 panels/year output with sub-one-year payback at scale Navigating opinion-based building inspection processes where "no two blocks in this entire country build a house the same way" The strategic calculus of positioning away from climate tech to avoid green premium assumptions Scaling from pilot production to deploying 25-30 machines to meet current demand pipeline Achieving 70-layer panel construction versus 6-8 layers in timber-based OSB //   Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co   // Don't Miss: New Podcast Series — How I Hire Senior GTM leaders share the tactical hiring frameworks they use to build winning revenue teams. Hosted by Andy Mowat, who scaled 4 unicorns from $10M to $100M+ ARR and launched Whispered to help executives find their next role. Subscribe here: https://open.spotify.com/show/53yCHlPfLSMFimtv0riPyM

What if school business operations were designed for sustainability — not constant reaction?In this episode of School Business Insider, host John Brucato is joined by Stephen Morales of the Institute for School Business Leadership and leaders from ASBO New York to discuss the launch of the Operational Excellence (OpEx) Pilot Program in New York State.They explore what OpEx is, how data from ASBO New York's State of the Profession Survey shaped the initiative, and how districts can use OpEx principles to strengthen systems, improve workflows, and build long-term capacity.The conversation also highlights district-level application, including how Briarcliff Manor UFSD is engaging in OpEx work, and walks listeners through what to expect as the pilot program launches.Contact School Business Insider: Check us out on social media: LinkedIn Twitter (X) Website: https://asbointl.org/SBI Email: podcast@asbointl.org Make sure to like, subscribe and share for more great insider episodes!Disclaimer:The views, thoughts, and opinions expressed are the speaker's own and do not represent the views, thoughts, and opinions of the Association of School Business Officials International. The material and information presented here is for general information purposes only. The "ASBO International" name and all forms and abbreviations are the property of its owner and its use does not imply endorsement of or opposition to any specific organization, product, or service. The presence of any advertising does not endorse, or imply endorsement of, any products or services by ASBO International.ASBO International is a 501(c)3 nonprofit, nonpartisan organization and does not participate or intervene in any political campaign on behalf of, or in opposition to, any candidate for elective public office. The sharing of news or information concerning public policy issues or political campaigns and candidates are not, and should not be construed as, endorsements by ASBO Internatio...

MORE STAFFINGReduce your OpEx and create more leverage in your company with financial forecasting, AI, and offshore talent by visiting ⁠https://morestaffing.co/af⁠. RICHPANELCut your support costs by 30% and reduce tickets by 30%—guaranteed—with Richpanel's AI-first Customer Service Platform that will reduce costs, improve agent productivity & delight customers at http://www.richpanel.com/partners/ajf?utm_source=spotify.FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris Email: podcast@ajfgrowth.comWork with AJF Growth: https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Weird and wonderful fitness races and challenges have been around for a while. Over the years, CrossFit has created a sport that provides the variety and spectacle we see in other sports, but now we are seeing many more styles of fitness races becoming very popular. Hyrox has gained a significant amount of momentum over the last couple of years and still seems to be on the way up. Athx is trying to create an event that sits somewhere between Hyrox and CrossFit, providing a one hour fitness race like Hyrox, spread across three different workouts that test strength, endurance and mixed modal fitness like CrossFit. Over the years, we have also seen different organisations and coaching companies create their own type of fitness race, such as the OPTathlon from OPT, now OPEX, and The Crucible from Complete Human Performance. In this episode, we talk about some of the key differences between these events, where they might complement each other, and what one type of event or race could learn from another. Listen to hear more and find out what we would include in our three event hybrid test. If you're not already subscribed to our newsletter, head over to www.legionsc.com to get a weekly selection of training tips and our favorite articles. We run online workshops for coaches as well. Find out when our next workshop is here: https://legionsc.com/program-design-workshops These podcasts are posted in video format on YouTube as well. Show Notes: [2:00] Has Hyrox hit its peak? [3:45] Is CrossFit accessible for recreational level athletes [7:00] The positives of more accessible events [8:00] Why competitive CrossFit is psychologically hard [10:30] Not having to train for fitness race events [15:30] Other types of hybrid tests and events [18:00] What would we put into a hybrid event

Alistair Roome is the founder and CEO of HD London Art (https://hdlondonart.com).FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris Email: podcast@ajfgrowth.comWork With AJF Growth: https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠INTELLIGEMSIntelligems brings A/B testing to business decisions beyond copy and design. Test your pricing, shipping charges, free shipping thresholds, offers, SaaS tools, and more by clicking here: https://bit.ly/42DcmFl. Get 20% off the first 3 months with code FARIS20. MOVE SUPPLY CHAINReduce your OpEx and create more leverage in your company with financial forecasting, AI, and offshore talent by visiting ⁠https://morestaffing.co/af⁠.

In this episode of Tech Talks Daily, I'm joined by Stuart Thompson, President of ABB's Electrification Service Division, to explore the intersection of industrial sustainability, energy security, and cutting-edge technology.   As industries face growing energy demands and climate targets, Stuart explains how companies can modernize their infrastructure to drive efficiency, reduce carbon footprints, and stay ahead of the energy curve.   Navigating the Industrial Sustainability Challenge   We start by addressing the urgent need for industries to rethink their energy and carbon strategies. Stuart highlights the significant role of construction and manufacturing in global energy-related emissions, stressing that many businesses are still behind on their 2030 sustainability targets.   We dive into the emerging shift from capital expenditure (CapEx) to operational expenditure (OpEx) models, such as predictive maintenance, to maximize value from existing assets.   Asset Modernization   Stuart explains how asset modernization—upgrading intelligent components like switchgear within existing infrastructure—can dramatically improve efficiency and reduce carbon without the need for costly, full-scale replacements.   He also shares examples, including Intel's semiconductor upgrades and Jadal Steel's success in Oman, demonstrating how targeted upgrades can meet sustainability goals while boosting productivity.   Smarter Energy Management with AI and AR   We explore how AI and augmented reality (AR) are transforming service delivery and operational intelligence. Stuart discusses how AI-powered predictive maintenance helps companies anticipate failures and optimize energy management, while AR facilitates remote assistance for faster issue resolution.   He also touches on how these technologies contribute to energy savings and carbon reduction by automating service reports and enabling real-time visibility into asset performance.   BESS as a Service: Solving the Energy Security Trilemma One of the key innovations Stuart highlights is ABB's Battery Energy Storage as a Service (BESSaaS), a solution designed to solve the "energy trilemma" of security, cost, and sustainability.   With on-site battery storage and AI-driven energy trading, businesses can bypass slow grid connections, ensure energy security, and even turn their energy storage into a profit center. This model is already making waves in industries ranging from data centers to manufacturing.   A Glimpse into the Future: ABB's Investment in Asset Management Tech   As we look to the future, Stuart reveals ABB's upcoming investment in asset management technology, set to be announced globally in early December 2025. This exciting move will have a significant impact on major customers like the London Underground and Saudi Electric Commission, further cementing ABB's role as a leader in energy innovation.   Don't miss this episode, where we discuss the latest trends in industrial sustainability, energy security, and technology's pivotal role in shaping a greener, more efficient future.   Useful Links Connect with Stuart on Linkedin Learn more about ABB Tech Talks Daily is sponsored by Denodo

"Efficiency is the new equity." In the traditional agency model, growth usually means hiring more people to do more manual work. This linear relationship eats into your margins, complicates your operations, and ultimately caps your agency's valuation. To truly scale, you have to break the link between revenue growth and headcount.My guest, Rodney Mattos Sr., returns to the show to break down the math behind this shift. In this episode, we explore how his platform allows agencies to move from "people hours" to "precision hours." We get into the financial mechanics of how reducing OpEx through automation doesn't just increase profit - it expands your EBITDA multiple, exponentially increasing your enterprise value. This is the strategy for building a predictable, high-value agency that investors love.▶▶ Sign Up For Your Free Discovery Callhttps://calendly.com/aneary/strategy-sessionKEY MOMENTS(00:00:00) How AI Multiplies Agency Value (00:16:18) The "Post Office" Solution: Solving Data Gridlock (00:23:41) The Mirror Effect: Technology That Reflects Human Judgment (00:35:28) The Math: How Efficiency Expands Your Multiple (00:41:47) The Shift From "People Hours" to "Precision Hours" (01:05:03) The Goal is Freedom, Not Fewer PeopleCONNECT WITH ANDY NEARY

As we begin to wrap up the year, we return to the crude markets. What has been oil's journey in the latter half of 2025? What has all this meant for trader performances after a challenging first half? What is the outlook for 2026 in prices and volatility? Our guest is Homayoun Falakshahi. He leads crude analytics at Kpler, the data and analytics firm for the commodity markets.

This episode goes deep into the mechanics of scaling a company from steady growth to breakout velocity. Peter shares how Spreedly quadrupled ARR growth in his first year without increasing OPEX, why the “right people pointed at the right problems” is everything, and how to decide which problems are existential versus learn-as-you-go.We dissect how go-to-market organizations evolve from $20M to $100M ARR, the power of focus and role separation, and how to keep silos aligned around one customer story.Peter also explains the shift from “payments orchestration” to “open payments” and how Spreedly's position as the original player in the space gives them unique leverage. We walk through the future of agentic commerce, Google's new agent-to-agent payments protocol, and what it means when agents can transact faster than any human could ever shop.We close out with the Dodgeball acquisition, a primer on fraud orchestration, and a wild story about working an entire night shift at a nightclub during a meltdown launch.Topics Covered:How Peter defines the journey to presidencyThe “right person, right problem” frameworkOne-way vs two-way doors for staffing big problemsHow to scale a GTM org from $20M to $100MWhy open payments replaces orchestrationSpreedly's unique market position and 15-year head startAgent to agent commerce and Google's new payments protocolHow AI changes the velocity of money movementFraud orchestration and Spreedly's acquisition of DodgeballBalancing profitable growth vs growth at all costsPerception vs reality in leadershipPeter's wildest “I never thought I'd see that” story 

www.marktreichel.comhttps://www.linkedin.com/in/mark-treichel/In this episode of With Flying Colors, Mark Treichel speaks with Dan Prezioso, Partner at Olden Lane, about the demographic shift reshaping credit unions and why deposit competition is entering a new era.Dan shares data and insights from multiple national surveys, macro trends, and firsthand M&A activity, including:Why strategic mergers are already breaking NCUA approval records in 2025The shrinking role of baby boomers as depositors, borrowers, and primary financial institution usersWhy Gen Z and millennials are saving more — but choosing Robinhood, Coinbase, and SoFi over traditional credit unionsThe alarming statistic that 37% of Gen Z credit union members are likely to switch institutions in the next 12 months“Real” deposit growth vs. nominal growth, and why rising OPEX may force additional consolidationThe engagement deficit: younger members don't think of credit unions as their everyday financial partnerWhat credit unions can do right now to stay relevant in the next decadeDan also highlights examples of institutions that are getting it right — from fractional real estate investing to budgeting tools and crypto-enabled debit cards — and explains what boards should be asking their CEOs in 2026 strategic planning.

If you're doing deals but still feel broke, this episode is your wake-up call. CFO and Profit First for Real Estate Investing author David Richter breaks down the exact system hundreds of investors use to finally keep their money, build stability, retire their W-2, and stop living deal to deal. Hosted by Brent Bowers of Wholesaling Inc, this episode gives you the simplest way to set up Profit First—even if you're brand new, working a 9–5, or doing your first deal.Learn how to structure your bank accounts, protect your profit, cut unnecessary expenses, and build long-term financial freedom without needing to scale to 100 deals. For more land opportunities, join The Landsharks Program.---------Show notes:(0:40) Beginning of today's episode(2:00) The three numbers every investor must know(6:00) David's story(10:10) The envelope method(11:32) Opening 2 accounts in OPEX(17:33) Implementing the Profit First System(29:09) Creating a fun account(35:00) What's working on today's market----------Resources:Profit First Real Estate InvestingThe Secret Life of Real EstateQuickbooksSimple CFORich Dad Poor DadOPEXMailchimpActive CampaignPydriveLand Sharks Data Talk to People  To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the TribeGo to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space. Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.It's 100% free to join. The opportunities in this community are endless, what are you waiting for?

In episode #331, Ben breaks down the true financial and economic differences between a SaaS company and an AI company. Inspired by a tweet claiming that “SaaS metrics are broken” and that AI companies generate more absolute profit per customer, Ben puts the theory to the test using real financial modeling. This episode walks through detailed revenue, gross margin, EBITDA, pricing power, TAM dynamics, and unit economics scenarios to determine whether AI companies actually outperform SaaS businesses. What This Episode Covers Why investors are questioning traditional SaaS metrics when evaluating AI companies The importance of recurring revenue fundamentals, whether the company is SaaS or AI A side-by-side comparison of a $1M SaaS company versus a $1M AI company Gross margin profiles: 80 percent SaaS vs. 55 percent AI How EBITDA changes when OpEx is held constant The revenue scale required for an AI company to match SaaS gross profit The revenue scale required for an AI company to match SaaS EBITDA Why AI companies need a TAM that is 6x larger How pricing power tied to labor displacement can shift AI unit economics Modeling ARPA increases to see when AI gross profit matches SaaS Why the underlying P&L structure does not change, but the inputs do How founders should think about forecasting and financial strategy when building AI-native products Why This Matters Founders embedding AI into SaaS products AI-native startups modeling their financial future CFOs and FP&A leaders forecasting revenue, cash, and margins Investors evaluating early-stage AI companies Operators building long-term company valuation strategies Ben emphasizes that the P&L, revenue streams, cost structure, and core KPI's still apply. What changes are the inputs—gross margin profile, pricing power, TAM, ACV, and scalability assumptions. Resources Mentioned Full blog post with financial modeling examples: https://www.thesaascfo.com/the-real-economics-of-saas-versus-ai-companies SaaS metrics course: https://www.thesaasacademy.com/the-saas-metrics-foundation

Over the last year, Montreal's industrial market has gone from uncertainty to cautious optimism. In this episode, Axel Monsaingeon sits down with Mike Jager, co-founder and co-president of Rosefellow, to break down how one of Quebec's most active developers is navigating higher vacancies, tighter financing, and shifting tenant expectations—while quietly scaling into large-scale multi-residential projects.   Mike explains why Class-A industrial still wins in soft markets, how Rosefellow stayed disciplined when everyone else was chasing deals, and what it really takes to raise and deploy multiple funds while keeping investors, banks, and tenants aligned. He also shares Rosefellow's growing push into multi-residential in Quebec, Ontario, and the U.S., their data-driven approach to site selection, and why they've built a lean team that partners with "the best of the best" instead of trying to do everything in-house. The conversation wraps with Mike's vision for giving back to the next generation, promoting women in construction, and staying grounded through market cycles.   Topics & Timestamps

Budgeting for CapEx vs. OpEx can feel like a tightrope walk, but getting it right is critical for profitability in Cannabis businesses. In this episode, DOPE CFO Certified Advisor Raymond Guns, CPA, sits down with Max Jackson, Founder of Cannabis Wiseguys, to share actionable insights from cultivation operations across the U.S.What You'll Learn:- How to align operations and finance to make sure OpEx gets the budget it needs- Strategies for optimizing workflows and responding to system failures with data-driven environmental controls- Common operational bottlenecks that constrain profit growth and how to overcome them.Whether you're new to the industry or a seasoned pro, this episode offers practical strategies to help Cannabis businesses save capital and drive profitability.

What if equity could move as fast as code? Most founders spend thousands on lawyers, cap table management, and outdated infrastructure just to raise money and distribute equity. Joris Delanoue thinks that's ridiculous. As co-founder and CEO of Fairmint, he's building the rails to move private equity onto the blockchain, turning cap tables into smart contracts and making ownership as easy to transfer as sending an email. In this episode of Rising Tide Startups, Joris shares his journey from being a serial entrepreneur in France to a blockchain pioneer in Silicon Valley. After selling multiple companies and experiencing the pain of locked-up investments and cap tables that were impossible to manage, he moved to the US with one goal: to fix capitalism. What started as an idea for a startup exchange using SPVs evolved into Fairmint, a platform that's already moved over $1 billion in equity onto the blockchain. Joris breaks down why blockchain is the superior technology for securities, how Fairmint is deintermediating traditional finance without sacrificing compliance, and why privacy features like zero-knowledge proofs are unlocking trillions of dollars in institutional capital. He also discusses the shift from infrastructure as CapEx to OpEx, and how transfer agents are suddenly the most sought-after role in finance. Additionally, he shares his belief that entrepreneurship changes the world faster than politics ever will. Key Takeaways: Blockchain is a superior infrastructure for equity. Just like cloud computing replaced private servers, blockchain will replace traditional financial rails because it's faster, cheaper, and more efficient. Cap tables should be smart contracts. Moving equity onto the blockchain eliminates intermediaries, reduces costs, and makes ownership programmable and liquid. Compliance is a feature, not a bug. Being an SEC-registered transfer agent means investors don't lose their assets if they lose their private keys. You can always recover securities with proper ID. Infrastructure can become a profit center. With the right tokenomics, what used to be operational expenses can now generate revenue instead of costing money. Equity should be accessible to everyone. Employees, contractors, partners, and community members who contribute value should be able to participate in the financial upside. Entrepreneurship beats politics. As a founder, you can impact billions of people through what you build, the values you embed, and the vision you execute.   Listen to the full conversation here: YouTube: https://www.youtube.com/@risingtidestartups Apple Podcast: https://podcasts.apple.com/us/podcast/rising-tide-startups/id1330525474 Spotify: https://open.spotify.com/show/2eq7unl70TRPsBhjLEsNZR   Connect with Joris: Fairmint: https://www.fairmint.com/ LinkedIn: https://www.linkedin.com/in/delanoue/ Closing thought: "The worst thing you can do is not know what to do and start chasing rabbits. Sometimes it's just better to do nothing." Please leave us an honest rating on Spotify, YouTube, or Apple Podcasts. Shoutout to our Great Sponsors: Naviqus Virtual Services - Hassle-free administrative support services that are efficient, affordable, and tailored to your needs. Check out https://naviqus.com now to jumpstart your business for 2026! Podbrand Media - Have you ever considered starting your own podcast for your company or brand? Podbrandmedia.com can help. Affordable and effective content creation and lead generation!

At what point should a founder stop running finance and accounting and hand the numbers to an expert? In episode #328, Ben Murray walks through the inflection points when SaaS founders should consider hiring a bookkeeper and/or fractional CFO to protect data accuracy, improve forecasting, and strengthen company valuation. You'll learn the warning signs that your financial systems and reporting are holding back growth—and how to build a finance function that scales with your business. What You'll Learn When to hire help by ARR stage Monthly close discipline: Why closing your books every month—accurately—is critical for investor trust. Accrual vs. cash accounting: How switching methods reveals true business performance. COGS clarity: Setting up a SaaS P&L that separates revenue streams, COGS, and OPEX for real gross-margin insight. Retention readiness: Why your MRR schedule (revenue by customer by month) is worth its weight in gold. Cash-flow forecasting: How to move beyond the bank-balance mentality to proactive cash planning. Investor presentation: Ensuring your metrics, slide deck, and financial statements tie together cleanly. Why It Matters For Founders: Delegating finance isn't failure—it's a strategic step toward sustainable scaling and higher valuation. For CFOs and Advisors: Knowing these trigger points helps you coach founders on financial readiness. For Investors: A disciplined monthly close and clean P&L build confidence in revenue quality and forecasting accuracy. Key Takeaways Growth dictates urgency: the faster you scale, the earlier you need finance expertise. A bookkeeper should close the books by mid-month to avoid costly cleanup later. Move to accrual accounting to show economic performance and support fundraising. Create an accurate MRR schedule to prove retention and ARR health to investors. Build a basic forecast to manage cash runway and hiring decisions with confidence. Resources Mentioned SaaS Metrics Foundation Course: https://www.thesaasacademy.com/the-saas-metrics-foundation Finance 101 for Founders: https://www.thesaasacademy.com/finance-101-for-saas-founders Quote from Ben “Just like I couldn't go in and code your product, most founders can't scale as CFO. At some point, finance needs a specialist so the business can keep growing on solid data.”

Your gross margin might not be telling the truth. In episode #327, Ben Murray exposes the seven “dirty secrets” that distort SaaS gross margins — from incorrect COGS coding to missing allocations for shared resources and misclassified expenses. Whether you're a CFO, finance lead, or operator, you'll learn how to clean up your P&L and get accurate unit economics that reflect your true performance and valuation. What You'll Learn The 7 big offenders that make SaaS gross margins misleading. How to correctly code payment processing fees (Stripe, ACH, wire) under DevOps in COGS. The difference between internal-use software and third-party apps embedded in your product. How to classify customer success — adoption-focused vs. account management. Why demo and test environments must be allocated properly between departments. How to ensure fully burdened expenses (wages, taxes, benefits, bonuses) are coded correctly. The impact of co-mingled headcount on margins by revenue stream. Why department leaders belong in the departments they manage. Why It Matters For Founders: Clean accounting drives higher (or preserved) company valuation and investor confidence. For Finance Teams: Accurate COGS and gross profit ensure your SaaS metrics are reliable. For Operators: Clear expense allocation helps identify efficiency opportunities in support, services, and DevOps. For Investors: Properly structured financial systems and accounting practices make due diligence faster and cleaner. Key Takeaways Misclassified expenses can make your gross margin appear stronger or weaker than it really is. Always differentiate between OpEx and COGS — the foundation of credible financial modeling. Track margins by revenue stream (subscription, usage, services) for true business insight. Ensure your P&L reflects fully burdened costs per department — including contractors. Clean financial data = higher trust from investors and buyers. Resources Mentioned SaaS Metrics Foundation Course: https://www.thesaasacademy.com/the-saas-metrics-foundation Quote from Ben “Your P&L doesn't lie — but bad coding does. If your COGS and OpEx aren't clean, your gross margin isn't either.”

AI is forcing engineering leaders to become part-CFO, part-governance expert, and part-business strategist. Are you ready for the shift? We're joined by Lake Dai, a globally recognized AI expert, professor at Carnegie Mellon, and founder of Sancus Ventures, to explore the new operating strategies required in an AI-first era. She explains why AI has evolved from a simple tool to a core business metric that leaders are held accountable for on earnings calls. This new reality introduces massive new compute costs—sometimes 30-50% of OpEx—forcing leaders to adopt the financial foresight of a CFO to forecast and justify spending.Beyond the balance sheet, Lake identifies AI governance as the biggest blind spot for most leaders today, outlining the urgent need for an AI handbook to manage unit, system, and ethical risks. This strategic shift also reshapes the engineering org itself, from managing hybrid teams of humans and agents to the need for new training environments, almost like "AI flight simulators." This episode is an essential briefing on these new complexities, all centered on Lake's most urgent advice: in a world moving this fast, the best strategy is to slow down and focus on the fundamentals.LinearB: Your AI productivity journey starts hereFollow the hosts:Follow AndrewFollow BenFollow DanFollow today's guest(s):Connect with Lake on LinkedInSubscribe to Lake's Substack: LakeD-AI UnbundledLearn more about: Sancus VenturesReferenced in today's show:I didn't believe it until I saw it: but it *really* works in open offices! And you cannot even hear devs "whispering."Councils of agentsIf you don't tinker, you don't have tasteI invited strangers to message me through a receipt printerSupport the show: Subscribe to our Substack Leave us a review Subscribe on YouTube Follow us on Twitter or LinkedIn Offers: Learn about Continuous Merge with gitStream Get your DORA Metrics free forever

Your implementation and professional services teams could be quietly eroding your gross profit margin — and most SaaS leaders don't even realize it. In episode #324, Ben Murray explains how unclear COGS structure, mispriced services, and untracked internal resources can distort your unit economics and lower your overall SaaS valuation. If your service margins are negative or your gross profit doesn't match expectations, this episode shows you exactly where to look — and how to fix it. What You'll Learn Why implementation teams often kill gross profit without you noticing. How to calculate services margins by setting up clean revenue streams and COGS cost centers. The right services gross margin target. Why doing “free” onboarding work can destroy your unit economics. How underpricing services or blending resources (support, CS, services) skews your financial reporting. The balance between protecting ARR and monetizing implementation revenue. How to fix your SaaS P&L for visibility into margins by revenue stream. Why It Matters For CFOs & Founders: Misclassified or underpriced services directly lower gross profit, cash flow, and company valuation. For Finance Teams: Clean COGS and OPEX separation creates accurate financial modeling, ARR margins, and retention-linked profitability. For Investors: Understanding margins by revenue stream signals financial discipline and scalability. For Operators: Properly scoped and priced services keep customer onboarding efficient and profitable. Key Takeaways Every SaaS company should know gross margin by revenue stream (subscription, usage, services). Services losing 20–30% gross margin dilute your financial performance and cash flow forecasting. Accurate classification drives better SaaS metrics, including CAC payback, Cost of ARR, and LTV:CAC. A well-structured financial system is your best defense against margin erosion. Resources Mentioned Episode 323: Should Professional Services Be COGS or OPEX? SaaS Metrics Foundation Course: https://www.thesaasacademy.com/the-saas-metrics-foundation Quote from Ben “If you don't know your margins by revenue stream, you can't manage them — and services might be the silent killer of your gross profit.”

In an AI push, Amazon has already axed 14,000 jobs and that total is reportedly going to hit 30,000.

Where do professional services belong on a SaaS P&L—COGS or OPEX? In episode #323, Ben clarifies how to code implementation, onboarding, custom integrations, and the tricky custom development work that sometimes blurs the line with R&D. You'll learn how correct classification protects gross profit, keeps investor metrics credible, and supports a higher company valuation. - What You'll Learn What counts as Professional Services When custom dev is OPEX (R&D) vs. COGS How to handle integrations Why coding accuracy matters Practical P&L structure - Why It Matters (Finance & Investor Lens) Gross Profit Integrity: Correct COGS ensures reliable margins by revenue stream (subscription, services, usage) that investors expect. Credible SaaS metrics: Clean separation supports accurate CAC payback (GM-adjusted), Cost of ARR, and LTV:CAC. Valuation: Transparent accounting and financial systems reduce diligence friction and improve confidence in revenue quality. Operator Clarity: Treat Professional Services as a self-sustaining business unit with clear targets for utilization and margin. - Quick Checklist Distinct GLs for subscription, usage, services revenue Fully burdened Services COGS (wages, taxes, benefits, travel, tools) Separate custom dev tracking (R&D vs. billable services) Clear DevOps/hosting in COGS for delivery costs CS in COGS only if non-selling (no quota/commission) - Resources Mentioned Guide: How to Structure a SaaS P&L (COGS vs. OPEX, margins by stream): https://www.thesaascfo.com/how-to-structure-your-saas-pl/ Course: SaaS Metrics Foundation: https://www.thesaasacademy.com/the-saas-metrics-foundation - Quote from Ben “Code services where the work and dollars actually live. If you blur R&D and Services, you'll either hurt gross profit—or your OpEx profile. Either way, investors will notice.”

Raising a Series A? Your story matters—but your SaaS metrics may close the deal. In episode #322, Ben outlines the investor-ready metrics founders must prepare. You'll learn what each metric signals to investors, how it ties to valuation, and where founders slip on accounting and financial systems. Why It Matters (Investor Lens) Investor metrics translate your story and traction into company valuation (multiples tied to growth + retention quality). Clean financial modeling depends on accurate accounting (COGS vs OPEX), solid financial systems, and reliable unit economics. Segmented metrics (by ACV/product/segment) de-risk assumptions and speed due diligence. Resources Mentioned Blog: Essential Series A Metrics (+ deep dives for each metric): https://www.thesaascfo.com/essential-saas-metrics-for-a-series-a-fundraise/ Course: SaaS Metrics Foundation: https://www.thesaasacademy.com/the-saas-metrics-foundation Quote from Ben “In Series A, the story still matters—but the metrics support the story that investors underwrite.”

Cloud costs are high and growing. Some orgs think they're out of control and are trying to limit spend. Some orgs are looking to leave the cloud. A lot of IT spend over the years has been seen as a cost center, with many executives trying to limit the growth or spend, even while they aim for digital transformations of their businesses. Throughout my career, it's been interesting seeing the tension of groups trying to take advantage of technology and the finance departments trying to manage costs. The cloud brings some of the same debates/arguments/concerns to the forefront. Partially because of scale, as we can add cloud resources much quicker than we can with a CapEx purchase. Partially because we've also often lost some control over budgeting with the move to OpEx and subscription things. Read the rest of Reducing Cloud Cost

Send us a textIn this episode of 'The Wireless Way,' host Chris welcomes Max Silber, Vice President of Mobility and IoT at MetTel, for an in-depth conversation on the latest trends and innovations in mobility and IoT. They discuss MetTel's advancements in mobile device management, IoT connectivity, fleet solutions, and mobile threat defense. Max shares insights on the importance of lifecycle management, the role of AI in edge data collection, and strategies for helping companies transition from CapEx to OpEx models. They also cover the significance of secure mobile deployments and how new technologies are enhancing safety in fleet management. Max offers practical advice for channel partners on expanding their mobility and IoT portfolios to drive revenue and solve customer problems. Tune in for a detailed look at the evolving landscape of wireless technology. 00:00 Introduction and Guest Welcome00:37 Max Silberg's Background and Experience03:30 Personal Insights and Early Career06:43 Transition to Mobility and IOT11:49 Business Growth and Industry Trends17:37 Mobile Device Management and Security21:12 Introduction to Mobility in Business21:23 Exploring IoT and Fleet Management22:49 AI and Real-Time Data in Fleet Management27:00 Challenges and Opportunities in Mobility Sales30:55 Strategies for Engaging Customers36:10 The Importance of Data in AI40:19 Final Thoughts and Call to Action Support the showCheck out my website https://thewirelessway.net/ use the contact button to send request and feedback.

Is organized real estate "going nuclear"? In this candid conversation, James and Keith sit down with Matt Widdows, Founder and Executive Chairman of HomeSmart, to talk about the seismic shifts reshaping the industry. From AI disruption and private listing wars to broker consolidation and MLS gridlock, this episode dives into what's next—and what agents must do now to stay relevant. Widdows shares how he built HomeSmart to 26,000+ agents, why agents must lead the AI revolution, and how to stay focused when the headlines are all chaos. If you're looking for unfiltered insights on technology, power plays, and the agent's future, you won't want to miss this episode. Connect with Matt on LinkedIn.   Learn more about HomeSmart on YouTube - X - TikTok - LinkedIn - Instagram - Facebook or online at homesmart.com.   Subscribe to Real Estate Insiders Unfiltered on YouTube! https://www.youtube.com/@RealEstateInsidersUnfiltered?sub_confirmation=1   To learn more about becoming a sponsor of the show send us an email: jessica@inman.com You asked for it. We delivered. Check out our new merch! https://merch.realestateinsidersunfiltered.com/   Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube, Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com.   Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod Link to website: https://realestateinsidersunfiltered.com This podcast is produced by Two Brothers Creative. https://twobrotherscreative.com/contact/  

“You can't fix technician staffing without fixing the replacement plan first—and rightsizing without replacement is just rearranging the deck chairs.” Episode SummaryFleet managers face an ongoing puzzle: should you prioritize asset replacement, rightsize your fleet, or hire more technicians? In this episode, Josh Turley and Marc Canton dive deep into how each of these levers impacts the others—and why trying to solve them in isolation might be the biggest mistake of all.Marc argues that a strong replacement plan is the keystone to improving both righttyping and technician capacity. You'll hear how poor replacement drives reactive maintenance, higher costs, and staffing overload—while proactive planning can improve PM compliance, reduce downtime, and unlock righttyping conversations that lead to major cost savings.The episode also explores how rightsizing (and righttyping) can expose hidden inefficiencies and open the door to smarter technician resource planning. The hosts walk through real-world examples of strategic replacements leading to reductions in spare ratios, better technician alignment, and enhanced fleet availability.Finally, they show how to build compelling data-driven models for stakeholders to weigh tradeoffs across capital spending, operational costs, and technician resources. You'll walk away understanding why doing all three—replacement, rightsizing, and staffing—at the same time is not only possible, but essential for true fleet success. ✅ Key TakeawaysA solid replacement plan is the foundation—it improves availability, reduces reactive maintenance, and helps rightsize your fleet. Righttyping vehicles can reduce technician burden and operating costs, even if asset counts increase. Technician staffing must be based on AU workload—not arbitrary tech-to-vehicle ratios. Use scenario modeling to present stakeholders with capital vs. OPEX trade-offs and drive better decisions. Present options—not ultimatums—to leadership. Blended approaches are more successful than single-threaded strategies. Your goal isn't just better utilization—it's higher availability that enables mission success. 

John sits down with Tyler Griffin (Swift Pro Heating, Cooling & Plumbing) to unpack how he launched a fast-growing HVAC + Plumbing startup in one of the most competitive markets in America: Washington, D.C./Northern Virginia. From selling his previous exterior business to private equity, taking a six-month reset, and then sprinting from zero to multi-million in year one, Tyler shares the gritty playbook—reviews over revenue early, Angie Ads to jumpstart demand, vendor partnerships (hello, Trane/Ferguson), dialing memberships, and building leaders who model → mentor → multiply.They get tactical on launching from scratch instead of buying, recruiting in a saturated market, wiring culture for speed, standing up next-day installs, and using Nexstar's OPEX roadmap to avoid the common HVAC pitfalls. If you're eyeing a greenfield launch or adding a second trade, this one's a field guide.

Modern energy regulations and rising utility costs are reshaping commercial real estate. In this episode, veteran green-building contractor Robert Pulitzer of Green Street Global explains how owners can tap hidden operational savings, fund deep retrofits with zero out-of-pocket capital, and future-proof assets against tightening decarbonization rules. In This Episode You'll Learn: Where the Money Hides: How utility-bill audits uncover 10-20 % in overcharges and fund the first wave of improvements. The Retrofit Roadmap: Start with the building envelope, then right-size HVAC, lighting, and water systems for 20-40 % lower consumption. Financing That Pays for Itself: Using C-PACE, equipment financing, and shared-savings models to cover 100 % of soft and hard costs. Best-Fit Property Types: Hotels, senior housing, hospitals, industrial facilities, private schools—and any owner-occupied building with high OPEX. Value-Add for the 21st Century: Why lower carbon emissions translate directly into higher NOI, higher valuations, and lower regulatory risk. AI as a Force Multiplier: The everyday tools Robert uses to draft proposals, LOIs, and even legal responses at lightning speed. Key Takeaways: Treat energy efficiency as a profit center, not an expense. A holistic approach—tight envelope → right-sized HVAC → efficient fixtures—delivers the biggest ROI. Shared-savings contracts and tax strategies eliminate upfront capital barriers. Decarbonization mandates are accelerating worldwide; acting now preserves asset value and competitive edge. Resources & Links Mentioned: https://www.greenstreetglobal.com https://www.greenstreetglobal.com/case_studies/ robert@greenstreetglobal.com Enjoyed the show? Leave a rating, subscribe, and share this episode with a fellow investor who's looking to cut OPEX and boost NOI through smart energy upgrades! Today's episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area. https://www.livegreenlocal.com And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and medicare benefits. https://www.rcbassociatesllc.com

In this episode, we dive into how AI agents are changing customer support (CX) and operations for DTC brands.Dom Steil, CEO and Founder of StateSet, shares how his platform automates complex tasks like warranty replacements and subscription changes while keeping a personal touch.He explains the difference between AI agents and chatbots, how to maintain data safety and security, and why brands in hyper-scaling mode should adopt this technology to handle increased ticket volume.Topics discussed in this episode:  How AI agents automate complex customer outcomes.What iCommerce (intelligent commerce) means for DTC.Why speed and 24/7 service builds customer trust.How AI agents save customers from subscription cancellation.What integration with DTC tech stacks looks like.How multi-language support works for international brands.What guardrails prevent AI from making errors or "hallucinating".Why hyper-scaling brands need AI to avoid scaling OPEX.What the future of AI-to-AI agent communication is.How to prepare operations for BFCM volume surge.Links & Resources Website: https://www.stateset.com/LinkedIn: https://linkedin.com/in/domsteilX/Twitter: https://x.com/domsteilGet access to more free resources by visiting the show notes at https://tinyurl.com/55m5sdds______________________________________________________ LOVE THE SHOW? HERE ARE THE NEXT STEPS! Follow the podcast to get every bonus episode. Tap follow now and don't miss out! Rate & Review: Help others discover the show by rating the show on Apple Podcasts at https://tinyurl.com/ecb-apple-podcasts Join our Free Newsletter: https://newsletter.ecommercecoffeebreak.com/ Support The Show On Patreon: https://www.patreon.com/EcommerceCoffeeBreak Partner with us: https://ecommercecoffeebreak.com/podcast-sponsorship/

Industrial Talk is onsite at Xcelerate 2025 and talking to Curt Chamberlain, Managing Consultant at Utility Performance Consultants about "Leveraging the EMaint solution for the Utility Market". Scott Mackenzie hosts an industrial podcast featuring Curt Chamberlain, a consultant with extensive experience in the energy and utility sectors. Chamberlain discusses his work with utilities like OG&E and a large Northeast utility, focusing on SAP implementations to cut OPEX by a billion dollars. He also details his projects with EMaint and Deep Blue, including a tight five-month implementation of EMaint for a pipeline company and a subsequent 18-month transition to EMaint's X5. Chamberlain highlights the challenges of regulatory compliance and the potential of AI in maintenance, emphasizing the need for substantial data to drive AI effectiveness. Action Items [ ] Connect with Curt Chamberlain on LinkedIn to continue the conversation. Outline Introduction and Welcome to the Podcast Speaker 1 introduces Scott Mackenzie as the host of the industrial talk podcast, highlighting his dedication to industry innovations and trends. Scott MacKenzie welcomes listeners to the podcast, emphasizing the importance of industry professionals and their contributions. Scott mentions the early morning conversation at the Accelerate conference, sponsored by Fluke Reliability. Scott promotes Fluke Reliability, encouraging listeners to visit their website for more information on asset management, maintenance, and reliability. Discussion on Autonomous Vehicles and Personal Experiences Scott and Curt discuss their experiences with autonomous vehicles, including taking one to a cigar shop and a short ride in another one. They share their thoughts on the comfort and safety of autonomous vehicles, with Speaker 2 expressing a desire to take one to the airport. Scott and Speaker 2 talk about the strange feeling of being in a car with no visible driver and the future of autonomous vehicles. Background on Curt Chamberlain Curt introduces himself as a consultant with extensive experience in the energy and utility business, particularly in maintenance and process improvement. He shares his background in the utility industry, starting in the mid-90s, and his work with various utilities, including OG and E. Curt describes his role in implementing SAP for OG and E, including payroll, maintenance, and other business systems. He mentions his recent work with a large utility in the Northeast, focusing on cutting a billion dollars in operating costs through SAP implementation. Implementation of E-Mate and Challenges Curt discusses his work with EMaint, a crude pipeline company, and the implementation of their asset management system. He describes the tight deadline and the challenges of transferring 389,000 historical work orders from the old system to E-Mate. Curt explains the regulatory requirements for maintaining historical data and the complexity of the implementation process. He shares the success of the implementation and the transition to E-Mate's new product, X5, which was pioneered by his team. Transition to Deep Blue and Current Projects Curt talks about his retirement and subsequent return to work with Deep Blue, a company in the water business. He describes the company's operations in Midland, Texas, and their role in treating and disposing of water used in hydraulic fracking. Curt explains...

MacroVoices Erik Townsend & Patrick Ceresna welcome, Dr. Anas Alhajji. They discuss all things energy, from this past Sunday's Group of 8 meeting to secondary sanctions strategy on India to the reincarnated Power of Siberia 2 pipeline project. https://bit.ly/4gkBeGI   Trade Dr. Anas Alhajji's Oil View Live! (Members-Only Guest Pass) Register For A Free Trial To Claim Your Pass! Here: https://dub.link/qt10D1y  

On this episode of Beyond Multifamily, Ash Patel interviews Logan Freeman (“Mr. Kansas City”), an investor–developer–broker who's bullish on select office and small-bay industrial. He explains how Class B/C office can work today—smaller suites, 1–3 year leases, rigorous OPEX/insurance diligence, and lender-ready liquidity—while outlining why flex/industrial has real tailwinds. Logan breaks down Kansas City's diversified growth story and how to win broker attention with a crisp buy box, fast feedback cadence, and authentic LinkedIn presence (plus smart AI to package data fast). He also shares lessons on time management, delegation, and a humbling historic rehab that reinforced the value of radical transparency in deals. Logan Freeman Current Role: Co-Founder & Chief Development Officer, FTW Investments; commercial real estate investor, developer, and broker. ftwinvestmentsllc.com Based in: Kansas City, Missouri. Say hi to them at: LinkedIn | FTW Investments Visit investwithsunrise.com to learn more about investment opportunities.  Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at ⁠www.bestevercommunity.com⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices