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Buy the Numbers

Buy the Numbers

De: Mike Payne
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 A deep dive into the financials of running a Manufacturing business.2024 Economía Gestión Gestión y Liderazgo
Episodios
  • Beyond the Books: Turning Your Accounting into a Competitive Advantage, Ep #20

    Beyond the Books: Turning Your Accounting into a Competitive Advantage, Ep #20
    Jun 12 2025
    What if I told you that your accounting function could be your greatest weapon in the fight for better margins, smarter decisions, and stronger growth? Too often, we treat accounting like a chore—just another box to check, another invoice to send. But if you're serious about building a resilient, efficient, and scalable manufacturing business, then it's time to look at accounting as a strategic function. In this episode, I’m joined by three experts from CLA—Phil Hanke, Mary Strand, and David Mauch—who live and breathe operational accounting for manufacturers. We dig into how small to midsize shops can build better systems, forecast more effectively, and make real-time decisions rooted in good data (not gut feelings). We’re not talking about spreadsheets for the sake of spreadsheets. We’re talking about boots-on-the-floor insight, setting up your ERP and accounting tools the right way, and actually using the information you collect to improve margins, reduce waste, and grow confidently. From budgeting basics to cash cycle calculations, this episode is packed with practical takeaways. If your current financial reporting feels like a black box—or if your books are still being run by a well-meaning family member without formal training—you’ll want to lean in. Because accounting isn’t just about reconciling the past; it’s about owning your future. You will want to hear this episode if you are interested in... (0:00) Mike shares a personal success story about ROI from investing in ProShop ERP(0:20) Why I believe you need to invest in ProShop ERP(2:25) Introducing guests from CLA and why their work matters to manufacturers(5:04) The labor gap isn’t just on the floor—it’s in accounting and admin roles too(8:26) Mary defines “operational accounting” and why it starts on the shop floor(12:54) Steel toes and inventory flows: how to diagnose inefficiency at ground level(14:53) Budgeting isn’t optional—Mary breaks down how to start simple and get real(19:11) Why budgeting should be a living, breathing document(20:46) Phil walks through how to turn planning into performance KPIs(24:32) Gross margin, product-line profitability, and how to use your income statement(27:43) Working capital and cash cycles—don’t let your AR terms bury your business(29:55) Pricing strategy that accounts for your cost of capital(33:00) Stay tuned for more information about Top Shops 2025(33:25) Frequency of financial monitoring—daily vs. monthly vs. quarterly(34:47) Predictive vs. lagging indicators and building a metrics dashboard(38:38) David explains how to collect actionable data without fancy tools(43:48) Connecting floor-level data to pricing, burden rates, and margins(47:22) How 5S and competition drive operator engagement in performance metrics(53:03) The danger of underutilizing your ERP or treating QuickBooks like a checkbook(56:00) Why financial statements should align with what’s happening on your floor(58:16) Low-hanging fruit you should focus on now(1:01:47) Check out the Machine Shop Mastery podcast Resources & People Mentioned Stay tuned for more information about Top Shops 2025Machine Shop Mastery Connect with Mary, Phil, and David with CLA Mary StrandPhil HankeDavid Mauch Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    1 h y 3 m
  • Golf, Grit, and CNC: Inside the Launch of Hanna Golf, Ep #19

    Golf, Grit, and CNC: Inside the Launch of Hanna Golf, Ep #19
    May 29 2025
    Most golfers obsess over their gear—but almost none of them build it. Jared Doerfler did. After playing college golf and spending years in sales, he found himself pulled back into the game he loved—but this time, through the lens of product creation. With zero machining experience, he quit his job, bought a beginner CNC mill, and decided to manufacture putters himself, from his garage. In this episode, we dive into how Jared taught himself CAD/CAM, figured out the physics behind great putter design, and slowly carved out a niche in a crowded marketplace. This wasn’t a white-label brand with flashy headcovers—it was a soul-first, steel-cut, full-stack operation. You’ll hear how golf gave Jared the idea, how family gave him the work ethic, and how sheer persistence turned that idea into a functioning business. From naming each model after towns tied to his grandfather to prototyping for months just to get the sound right, Jared’s approach to design and manufacturing is anything but casual. Whether you’re a golfer, a builder, or someone with a product idea burning in your brain, this episode is a masterclass in starting from zero—with nothing but curiosity, grit, and a love for the game. You will want to hear this episode if you are interested in... (0:15) Stay tuned: Top Shops 2025 registration coming soon!(1:09) Jared explains how he transitioned from sales into self-taught CNC work(2:52) Jared’s family history in manufacturing and how that shaped his path(6:34) Discovering a niche product to design and manufacture himself(10:05) The decision to make the product in-house vs. outsourcing production(12:00) How MAESTRO can simplify inspection in automated processes(17:21) Jared explains why he started with a Tormach and how he upgraded(19:12) Teaching himself CAD/CAM, the CAM learning curve, and iterative machining(24:40) Jared’s first putter design and how aesthetics vs. precision played out(26:54) Grow your top and bottom line with CliftonLarsonAllen(28:32) Naming each putter after towns tied to his grandfather(30:53) Going to market: Balancing performance with style(35:46) Manufacturing breakdown: 4 ops, soft jaws, materials, and finish choices(39:14) Challenges with scale, inventory vs. make-to-order, and a growing scrap pile(41:30) Diving into the finishing and the post-machining process(44:45) Entrepreneurship talk: bootstrapping, debt vs. investors, and capital priorities(46:37) Pricing strategy differences between product businesses and job shops(48:35) Advice for aspiring founders and a nod to the massive challenge of job shops(54:34) Why you need to subscribe to the Lights Out podcast Resources & People Mentioned Stay tuned: Top Shops 2025 registration coming soon!Grow your top and bottom line with CLAToolpathCloudNC Connect with Jared Doerfler Hanna GolfConnect on LinkedInJared@HannaGolf.comFollow on Instagram and Twitter Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    55 m
  • Compensation Isn’t Just About Money—It’s About Loyalty, Retention, and Legacy, Ep #18

    Compensation Isn’t Just About Money—It’s About Loyalty, Retention, and Legacy, Ep #18
    May 15 2025

    Most of us shop owners tend to keep compensation pretty simple: pay ourselves what the business can afford, pay our team what feels fair, and hope that keeps everyone happy. But I’ve learned over the years that this approach can quietly hurt the very business we’re trying to grow.

    In this episode, I sit down with John Jones from Scissortail Executive Advisors to dig into how owner and executive compensation really works—and how getting strategic about it can lead to better retention, stronger tax positioning, and a more valuable business overall.

    John and I talk through why it’s critical to separate your roles as owner and operator, especially when setting your own salary. We also cover how small shops—yes, even with 10 or 12 employees—can make use of tools like 401(k)s and non-qualified retirement plans. These aren't just for big corporations. There’s a ton of flexibility and strategy available here that most folks just don’t realize.

    I’ve met a lot of great shop owners who take the bare minimum they need to survive and put everything else back into the business. That’s noble, but it’s not always the most efficient or rewarding way to structure things. John shares ways to keep your team happy, secure your own financial future, and still make sure the business has what it needs to grow.

    If you’ve never given much thought to how you compensate yourself—or how to build real retention plans for your team—this episode will open your eyes. You’ll walk away with practical tools, smarter strategies, and maybe even a little peace of mind.

    You will want to hear this episode if you are interested in...
    • (0:00) Cold open on non-qualified plan flexibility (humorous examples)
    • (0:26) Grow your top and bottom line with CLA
    • (1:34) How Mike and John first connected over foster dogs
    • (3:09) What John’s firm does and who they serve
    • (5:21) Splitting owner vs. executive compensation (and why it matters)
    • (11:28) Intro to 401(k)s and non-qualified plans as supplemental tools
    • (13:27) Deep dive into non-qualified plans: flexibility, vesting, tax savings
    • (18:44) Structuring benefits for a 12-person machine shop
    • (23:40) Get ready for Top Shops 2025 in Charlotte, NC
    • (24:05) Tax advantages of these plans for both owner and business
    • (26:43) Discretionary contributions and plan flexibility year-to-year
    • (33:09) Risks of non-qualified plans in the event of business failure
    • (36:56) Costs and scalability of both 401(k) and non-qualified plans
    • (39:40) Other areas owners should consider for employee retention
    • (42:48 Phantom stock vs. profit sharing for retention and motivation
    • (47:10) Final takeaways: tax planning, recruiting, and valuing employees
    • (52:54) Head on over and listen to the Machine Shop Mastery podcast
    Resources & People Mentioned
    • ERISA Guidelines
    Connect with John Jones
    • Scissortail Executive Advisors
    • Connect on LinkedIn
    Connect With Buy the Numbers
    • Follow on LinkedIn
    • Connect with Mike Payne on LinkedIn

    Subscribe to Buy the Numbers

    on Apple + Spotify


    Audio Production and Show Notes by - PODCAST FAST TRACK
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    54 m
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