• Common Mistakes Made By Young Businesses

  • Sep 16 2024
  • Durée: 17 min
  • Podcast

Common Mistakes Made By Young Businesses

  • Résumé

  • Welcome to the Mills Knows Bills Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for variable income earners to manage their finances effectively. Let's get to those burning financial questions!

    In episode 22, Mills welcomes "coffee-preneur" Eric Rowell of Grit and Grind Coffee, a mobile coffee company. The pair discuss common financial mistakes made by new business owners, including the importance of having a financial game plan, accurate bookkeeping, savings, and obtaining a line of credit. Eric shares his journey from real estate to owning several coffee trailers and brick-and-mortar stores, eventually franchising his business. They also cover strategies for optimizing business finances and the potential benefits of outsourcing bookkeeping duties, and more.

    Get helpful tips and actionable advice to help you manage and grow your own business.

    To connect with Eric:

    https://gritandgrind.coffee

    Do you have your own burning financial question for Mills? Contact her here:

    Email: info@MillsKnowsBills.com

    Website: https://MillsKnowsBills.com

    Instagram: https://instagram.com/@millsknowsbills

    LinkedIn: https://www.linkedin.com/company/mills-knows-bills

    YouTube: Subscribe for the latest video podcast episodes from @MillsKnowsBills

    00:00 Introduction to Mills Knows Bills

    00:28 Podcast Format and Goals

    01:14 Introducing the Guest: Eric Rowell

    01:30 Eric's Journey in the Coffee Industry

    02:05 Eric's Burning Financial Question

    02:58 Common Financial Mistakes by Entrepreneurs

    03:41 The Importance of Bookkeeping

    04:29 Building Savings and Emergency Funds

    05:36 Getting a Line of Credit

    06:42 Eric's Experience and Challenges

    08:29 Outsourcing Bookkeeping

    14:15 Grit and Grind: Business Model and Expansion

    16:43 Conclusion and Contact Information

    Link to video podcast episode on YouTube: https://youtu.be/0NMrjJJFqy8

    #financialpodcast #variableincome #millsknowsbills #entrepreneurialfinance #businessmistakes

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