In this episode of the RossKote Powder Coater Podcast, Kim Scott interviews Shelby Ashley, the founder of Optimize Financial Solutions. They discuss the importance of financial literacy for small business owners, particularly in the manufacturing and powder coating industry. Shelby emphasizes the need for understanding financial statements, managing cash flow, and the dangers of excessive debt. They also touch on the significance of budgeting, with Shelby advising on its necessity for tracking performance and catching issues early. The conversation covers the impact of expenses on profitability, the benefits of strategic pricing, and the importance of hiring a team that challenges the owner. Shelby also highlights the common oversight of tax planning and offers a free financial assessment for business owners. They conclude with the idea of comparing profit and loss statements across the industry to understand optimal margins, regardless of company size. Shelby is available for consultation through LinkedIn, and the episode encourages listeners to charge enough, make money, and sleep well at night.
Featured Guest Links
Shelby Ashley LinkedIn
https://www.optimizedfinancialsolutions.com/
Coater News: Episode 1.4
Coater News: Episode 1.3
Episode 16: F**k it! Powder Coating Uncut with Ashton Palmer
Trailer: Episode 16
Coater News Episode 1.2
Episode 15: Myth Busting Rust with Jeff Taylor
Trailer: Episode 15
Episode 14: Blast Media Basics with Jeff Taylor
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Coater News: Episode 1.1
Coater News: Episode 1.0
Episode 13: Going Places Unknown with Shawn Shreve Part #2
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Episode 12: Going Places Unknown with Shawn Shreve Part #1
Trailer: Episode 12
Episode 11: What‘s Working Now on Social Media
Trailer: Episode 11
Episode 10: Frustrations to Finishing with Jase Kaser
Trailer: Episode 10
Episode 9: Benco‘s B17-Everything You Need To Know About Stripping
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