Are You Making Money or Just Making Sales? Profit Basics for New Small Business Owners - Ep. 20

Your Mid-Year Business Check-In - Ep. 23

We are at the tail end of Q2 and that means you have five months of real business data behind you and seven months left in the year to work with. This is the perfect moment to stop, look at the scoreboard honestly, and make one smart adjustment before summer arrives. In this episode of Small Business Simplified, Karin Velez guides you through a 30-minute mid-year check-in built around five simple questions: What came in? What went out? What made the most money? What cost the most time? And what’s the one thing to do differently next quarter? She walks you through the four numbers you need to pull, the benchmarks to compare them against, and exactly what to do with what you find, whether you’re ahead of target, behind it, or somewhere in the middle. Pull up a seat at the table and let’s get into it. Quick Notes • The Four Numbers: Total revenue / Total expenses / Annual target / Revenue-to-date percentage • The Five Questions: What came in? / What went out? / What made the most money? / What cost the most time? / What’s the one thing to do differently? • Quick Benchmark: At 4 months in, a consistent business should be near 33% of its annual revenue target. References 1. U.S. Small Business Administration (SBA) — Business Planning, Goal Setting, and Mid-Year Reviews https://www.sba.gov/business-guide/manage-your-business/strengthen-your-business [https://www.sba.gov/business-guide/manage-your-business/strengthen-your-business] 2. SCORE — Business Review Templates and Small Business Planning Resources https://www.score.org/resource/business-planning-financial-statements-template-gallery [https://www.score.org/resource/business-planning-financial-statements-template-gallery] 3. Small Business Development Centers (SBDC) — Financial Review and Business Advising https://americassbdc.org [https://americassbdc.org] 4. Harvard Business Review — Goal Setting, Business Reviews, and Performance Management for Small Business https://hbr.org/2021/10/make-your-goals-smarter [https://hbr.org/2021/10/make-your-goals-smarter] 7. Babson College — Entrepreneurship and Small Business Performance Research https://www.babson.edu/academics/centers-and-institutes/blank-center/ [https://www.babson.edu/academics/centers-and-institutes/blank-center/] ------------------------------------------------------------- If you want more mini systems like this you can implement in your business, plus deep-dive workshops that we spend an entire month nurturing you through, come join us in The Growth Table Small Business Collective. No noise, no hustle culture, just a table full of people who are genuinely rooting for each other. Head to GrowthTableSBC.com [https://GrowthTableSBC.com]

The Yes Trap: When Saying Yes to Work Is Costing You Money - Ep. 22

Have you ever said yes to a client or a project and known almost immediately that it was a mistake? That’s the Yes Trap, the habit of accepting work without honestly evaluating whether it fits your pricing, your capacity, or the direction you’re trying to grow. And it is one of the most common and most costly patterns in early-stage business. In this episode, Karin Velez breaks down exactly what the Yes Trap is, why early-stage business owners are especially vulnerable to it, and what a bad-fit client or project actually costs you in time, margin, energy, and reputation. She walks through a simple three-question filter to run before accepting any new work, and gives you practical, real-world language for saying no gracefully, communicating a not-yet with warmth, and restructuring an offer when the terms don’t work, all without burning a relationship or apologizing for having standards. If you’ve ever taken on work you shouldn’t have, this episode is for you. Pull up a seat at the table and let’s get into it. ------------------------------------------------------------------ Resources: 1. U.S. Small Business Administration (SBA) — Pricing, Scope Management, and Small Business Profitability https://www.sba.gov/business-guide/manage-your-business/manage-your-finances [https://www.sba.gov/business-guide/manage-your-business/manage-your-finances] 2. SCORE — Client Management, Boundaries, and Business Sustainability https://www.score.org/resource/business-planning-financial-statements-template-gallery [https://www.score.org/resource/business-planning-financial-statements-template-gallery] 3. Project Management Institute (PMI) — Scope Creep Research https://www.pmi.org/learning/library/pulse-profession [https://www.pmi.org/learning/library/pulse-profession] 4. Harvard Business Review — The Cost of Bad Clients and Misaligned Work https://hbr.org/topic/entrepreneurship [https://hbr.org/topic/entrepreneurship] 5. Small Business Development Centers (SBDC) — Client Agreements and Scope Definition https://americassbdc.org [https://americassbdc.org] 6. Cornell University ILR School — Negotiation and Professional Boundaries https://www.ilr.cornell.edu [https://www.ilr.cornell.edu] ------------------------------------------------------------------- If you want a supportive, no-noise community of business owners who are building real businesses without the hustle-culture pressure, come join us in The Growth Table Small Business Collective. Monthly workshops, a growing resource library, peer support, and direct access to me. Head to GrowthTableSBC.com [GrowthTableSBC.com]

Stop Chasing New Customers: Why Retention Is the Fastest Path to Profitability - Ep. 21

Most early-stage business owners pour almost all of their marketing energy into finding new customers. But the fastest, most affordable path to profitability is often already sitting in your customer list. In this episode, I break down the real math behind customer retention: why keeping an existing customer costs a fraction of what it takes to find a new one, and how a small improvement in retention can dramatically impact your bottom line. I walk you through a simple three-step routine for keeping customers coming back plus a practical, low-pressure framework for asking for referrals that feels natural rather than pushy. Whether you have five customers or fifty, this episode will help you build a foundation of loyalty and word-of-mouth that grows with your business. Pull up a seat at the table and let’s get into it. ------------------------------------------------------------ if you’re looking for a calm, supportive place to keep building, off social media, without the noise, come join us in The Growth Table Small Business Collective. Monthly workshops, a resource library, peer support, and access to me for questions and guidance. Head to GrowthTableSBC.com [https://GrowthTableSBC.com]

Are You Making Money or Just Making Sales? Profit Basics for New Small Business Owners - Ep. 20

Making sales feels great, but are you actually making money? For early-stage business owners, the gap between revenue and real profit is one of the most important and most overlooked numbers in the business. In this episode, I break down the difference between revenue, gross profit, and net profit and walk you through the three most common profit leaks that quietly drain new businesses: underpricing, untracked expenses, and uncounted time. You’ll also learn how to run a simple 10-minute profitability check using just three numbers, and what to do with whatever you find. Pull up a seat at the table and let’s get into it. Resources: 1. U.S. Small Business Administration (SBA) — Financial Statements and Profitability Foundational guidance on reading and understanding business financial statements, including profit and loss reports, for small business owners. https://www.sba.gov/business-guide/manage-your-business/manage-your-finances [https://www.sba.gov/business-guide/manage-your-business/manage-your-finances] 2. SCORE — Profit and Loss Statement Template and Mentoring Free P&L templates, financial planning worksheets, and one-on-one mentoring from experienced business advisors. SCORE mentoring is free and confidential. https://www.score.org/resource/business-planning-financial-statements-template-gallery [https://www.score.org/resource/business-planning-financial-statements-template-gallery] Work with me: https://growthtablesbc.com/coaching ----------------------------------------------------------- My Business Builder Bootcamp kicks off next week! If you or someone you know is just starting their business and needs a road map to follow, step by step, that’s the place to be. One hour per day with me for five days plus a detailed workbook that gets you from idea to launched business by the end of the week. It sounds intense and it kind of is but doing the work is how you get the business you’ve been dreaming off of the ground and running without any more delays. Head to growthtablesbc.com/bootcamp. [growthtablesbc.com/bootcamp.]

7 Marketing Channels That Aren't Social Media - Ep. 19

Someone recently commented on one of my Instagram posts, “And yet you can’t even build an IG account.” My response? “Interesting that you think an IG account is a requirement for building a business.” That exchange sparked this episode, an honest, data-backed conversation about one of the most damaging myths in small business: that you need a large social media following to have a successful business. I break down what social media actually is (a tool, not a business model) and walk through seven proven customer connection strategies that work without a single follower — from email marketing and direct outreach to referral systems, strategic networking, and partnerships. Whether you love social media or dread it, this episode will help you think more clearly about where to spend your limited marketing time and energy, so it actually brings customers to your door. Pull up a seat at the table and let’s get into it. -------------------------------------------------------------- The doors are open to my Business Builder Bootcamp. This is 5 days built to take you from idea to launch. No fluff, no woo woo, just hard work and a fully-fledged business by the end of the week. Early bird pricing ends May 11th. Head to https://subscribepage.io/businessbootcamp