The How of Business - How to start, run, grow and exit a small business.

Selling a business is far more complicated than most entrepreneurs realize and many business owners wait too long to prepare for it.
Show Notes Page: https://www.thehowofbusiness.com/608-selling-a-business-roundtable/
In this final episode of the three-part entrepreneurial roundtable series, Henry Lopez is joined again by Giuseppe Grammatico, Rocky Lalvani, and David Barnett to discuss what actually makes a business sellable and how business owners should think about exit planning from the very beginning.
The conversation explores one of the biggest misconceptions in entrepreneurship: the belief that a small business will automatically sell for a high multiple. The panel explains why buyers care about much more than just financials, including owner dependency, systems and processes, operational documentation, and whether the business can realistically continue without the founder heavily involved.
David Barnett shares insights into business valuation, buyer psychology, and deal structures, including why many sellers are surprised to learn that buyers often want seller financing, earnouts, or transition support to reduce risk. The group also discusses why most businesses listed for sale never actually sell and what separates a transferable business from a job disguised as a business.
The episode also covers:
• How systems and SOPs increase valuation
• Why franchises often have an advantage in resale value
• The hidden tax implications of selling a business
• The emotional challenges of exiting a business
• Why some owners should focus on maximizing income instead of pursuing a sale
Whether you're years away from an exit or just starting your entrepreneurial journey, this conversation will help you think differently about building a business with long-term value.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Identify what to fix next in your small business and build consistent profitability using the Profit First methodology.
Show Notes Page: https://www.thehowofbusiness.com/r322-mike-michalowicz/
Many small business owners stay trapped in survival mode because they don't know what to fix next in their business. They work long hours, constantly fight fires, grow revenue, and still struggle to achieve predictable profitability.
In this episode, Henry Lopez talks with entrepreneur and bestselling author Mike Michalowicz about how business owners can identify the right priorities, stop spinning their wheels, and build a more profitable and sustainable business.
Mike shares insights from his book Fix This Next, including his Business Hierarchy of Needs framework that helps entrepreneurs determine what their business actually needs next instead of reacting to daily crises. He also explains why many businesses mistakenly believe more sales will solve every problem when, in reality, increased sales often create more stress, obligation, and operational chaos.
Henry and Mike also dive into the core principles behind Profit First, the cash management system that challenges the traditional accounting formula of Sales – Expenses = Profit. Instead, Mike explains why business owners should prioritize profit first by allocating profit before expenses, forcing smarter operational decisions and healthier financial discipline.
During the conversation, Mike shares:
Why entrepreneurs often struggle to identify their biggest business problem.
The "A to B" exercise for determining what your business needs next.
The Business Hierarchy of Needs framework.
Why growing revenue alone often increases stress.
How Profit First changes the way owners manage cash flow.
Why most small businesses operate check-to-check.
How to begin implementing Profit First starting with just 1%.
Why profitability forces better business decisions and innovation.
The importance of validating your business model early.
Mike also shares the personal story behind creating Profit First after losing nearly everything financially following the sale of his businesses.
This episode is packed with practical insights for entrepreneurs who want to stop chasing revenue and start building a healthier, more profitable business.
Mike Michalowicz is an entrepreneur, speaker, and author. He is the bestselling author of several influential business books including Profit First, Fix This Next, The Pumpkin Plan, and Surge. Mike is also the founder of Profit First Professionals, an organization that helps accountants, bookkeepers, and financial professionals guide business owners toward greater profitability.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Grow a healthier business by managing cash flow, using debt strategically, and building strong business relationships.
Show Notes Page: https://www.thehowofbusiness.com/607-growing-a-small-business/
Growing a business requires far more than simply increasing sales. It demands financial discipline, smart decision-making, and strong relationships.
In Part 2 of this entrepreneurial roundtable series, Henry Lopez is joined again by Giuseppe Grammatico, Rocky Lalvani, and David Barnett for a practical conversation about what it really takes to grow a small business.
The discussion begins with one of the most important topics for entrepreneurs: cash flow management. Rocky explains the principles behind the Profit First system, created by Mike Michalowicz, and why many business owners fail to recognize financial problems until it's too late. They also discuss why relying only on bank balances can create dangerous blind spots and how cash flow systems can provide early warning signs when something in the business model is broken.
The conversation then shifts into debt and leverage. The panel explores the difference between using debt strategically to fund profitable growth versus using debt to cover operational problems or poor financial management. David shares examples of how business owners can misuse lines of credit and why understanding the purpose behind borrowing is critical to long-term business health.
Finally, the group discusses the importance of relationship building and networking for business growth. Henry shares why getting out into the community, identifying referral partners, and building meaningful connections remain essential growth strategies for local and service-based businesses.
This episode is packed with practical advice for entrepreneurs who want to build a stronger and more sustainable business.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

KPIs (Key Performance Indicators) provide an effective way to measure your business performance using both leading and lagging indicators to make better decisions and drive growth.
Show Notes Page: https://www.thehowofbusiness.com/606-kpis-measure-business-performance/
Small business owners often rely on gut feel or a quick glance at their bank balance to gauge how their business is performing, but that approach leads to reactive decision-making and missed opportunities. In this episode, Henry Lopez explains how to use Key Performance Indicators (KPIs) to measure business performance more accurately and proactively.
He breaks down the difference between lagging indicators - such as revenue, profit, and cash - and leading indicators like leads, conversions, and customer activity, which help predict future performance. By understanding and tracking both, small business owners can gain clarity and control instead of simply reacting to past results.
Henry also shares a simple framework for selecting KPIs, emphasizing that most small businesses should focus on just three to five core metrics that are measurable, aligned with business goals, and reviewed consistently. To make it practical, he walks through a sample KPI scorecard that includes revenue, profit, cash, customer flow, and customer retention, while reinforcing that these are starting points, not a one-size-fits-all solution.
"You can't improve what you don't measure, but only if you're measuring the right things," Lopez explains, highlighting the importance of choosing the right metrics for your business.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

How to find the right business by evaluating whether to buy, build, or franchise while aligning with your finances, goals, and mindset.
Show Notes Page: https://www.thehowofbusiness.com/605-finding-the-right-small-business/
Choosing the right business is one of the most critical decisions an entrepreneur will ever make, and getting it wrong can cost years of time, money, and energy. In this roundtable discussion, Henry Lopez is joined by Giuseppe Grammatico, Rocky Lalvani, and David Barnett to break down how to approach finding the right business opportunity.
The conversation explores the key paths available to aspiring business owners - starting from scratch, buying an existing business, or investing in a franchise - and the pros and cons of each approach. The group emphasizes that before evaluating any opportunity, entrepreneurs must first shift their mindset and understand what it truly means to become a business owner.
Financial readiness is a major theme throughout this roundtable discussion. From understanding cash flow realities to avoiding unrealistic expectations about early profits, the panel highlights why having the right financial foundation is essential. They also dive into common mistakes buyers make during due diligence, including misinterpreting financial statements, overlooking hidden risks, and failing to validate assumptions.
A key takeaway from this conversation is the importance of aligning the business with your personal goals, lifestyle expectations, and tolerance for risk.
As Henry shares: "Be careful not to fall in love with the business before you finish the due diligence."
This episode sets the foundation for the rest of the series by helping you think critically about how to choose the right business and avoid costly mistakes early in the process.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com