Businessing with Pat Miller
No one's coming to save you. That's a bad thing. But no one's coming to stop you either, and that's a great thing. Wednesday's show is built around the most overlooked profit lever in your business: your P&L. Barbara Fausett from Money Masters Bookkeeping sits down with Pat to break down the five sections of a profit and loss statement, why most owners only read two of them, and what kind of decisions become obvious once you read all five. Plus: five ways to give yourself a raise this week, an AI story that should change how you think about hiring in your business, and an Idea Slam answer that fixes the "I can't describe what I do in one sentence" problem. In this episode: 00:00 — Show open, sponsors, check-ins 02:30 — Positivity: SBOC 26 tickets are LIVE 04:00 — Gratitude: 5 ways to give yourself a raise 09:00 — Distraction of the day: performative "bettering" 11:00 — Barbara Fausett on the 5 parts of your P&L 23:00 — News: CPI hits 3.8% (hottest since May 2023) 24:30 — Stuff you should know: your brain works under anesthesia 27:00 — AI story: 76% of companies now have a Chief AI Officer 31:00 — Sponsor spotlight: Crown Room Live with Elzie Flenard 32:30 — Idea Slam: nobody cares about your how 36:00 — SBOC 26 Conference tickets on sale Resources mentioned: - Money Masters Bookkeeping — https://moneymasters4biz.com - Crown Room Live with Elzie Flenard — https://crownroomlive.com - SBOC 26 Conference (September 15-17, Brookfield, WI, with keynote Mike Michalowicz) — https://smallbusinesscommunity.com - Live check-in for the show — https://live.smallbusinesscommunity.com 🎙️ Watch on YouTube: https://www.youtube.com/@PatMillerFridaysOff?sub_confirmation=1 🎧 Apple Podcasts: https://podcasts.apple.com/us/podcast/businessing-with-pat-miller/id1870663109 🌐 Listen anywhere: https://businessing.captivate.fm/listen 📬 Fridays Off Newsletter: https://fridaysoffnewsletter.com 👥 Small Business Owners Community: https://smallbusinesscommunity.com #SmallBusiness #Entrepreneurship #PatMiller #ProfitAndLoss #Bookkeeping #SmallBusinessFinance
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