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

Inventory is one of the most misunderstood and cash-intensive assets in a small business, and managing it strategically can dramatically improve cash flow, reduce risk, and support sustainable growth. Show Notes Page: https://www.thehowofbusiness.com/592-smarter-inventory-better-cash/ Inventory is often treated as an operational detail, but for many small businesses it is one of the biggest drivers of cash flow strain and hidden risk. In this episode, Henry Lopez reframes inventory for what it really is - cash tied up on your shelves - and explains why poor inventory decisions can quietly suffocate profitability. Henry walks through the most common inventory challenges small business owners face, including trapped working capital, spoilage and obsolescence, shrinkage, unpredictable demand, and the temptation of bulk-purchase discounts that often do more harm than good. He explains why inventory typically lives on the balance sheet rather than the P&L (Profit & Loss Statement), and how that accounting reality can mask its true impact on business performance. On this episode of The How of Business podcast Henry also explores the origins of Just-In-Time inventory, its roots in Toyota's post-war production system, and how small businesses can responsibly apply lean inventory principles today, especially now that most supply chains have stabilized after COVID disruptions. Finally, Henry outlines the core components of an effective inventory operating system, from software and supplier management to a short list of essential KPIs that help business owners stay in control. The key takeaway: inventory decisions are cash decisions and managing them well is critical to long-term business health and growth. Inventory management is not just about what you sell or use, it's how you invest your cash, manage risk, and determine whether your business can grow and survive. 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

Immigrant entrepreneurs often build businesses to last, and their approach to resilience, hospitality, and value creation offers powerful lessons for any small business owner. Show Notes Page: https://www.thehowofbusiness.com/591-neri-sillaman-survival-to-sustainable/ In this episode, Henry Lopez talks with Neri Karra Sillaman, author of Pioneers: Eight Principles of Business Longevity from Immigrant Entrepreneurs, about what immigrant entrepreneurs can teach us about building businesses that endure. Neri shares her remarkable journey from growing up in a Turkish minority family in communist Bulgaria, being forced to flee as refugees, and helping her family rebuild their lives and livelihoods in Turkey. She explains how those early experiences shaped her view of entrepreneurship, not as a career choice, but as a means of survival that later evolved into a powerful business philosophy. Drawing from her family's business experience and her formal business education, Neri discusses several of the core principles from her book, including resilience, authentic hospitality, cultural bridge-building, and a focus on long-term value rather than short-term profit. She explains how immigrant entrepreneurs often leverage past hardship, adaptability, and deep human connection to create businesses that last across generations. Whether you are an immigrant entrepreneur or a small business owner looking to build something sustainable, this conversation offers practical insights on trust, perseverance, and designing a business for longevity. 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

Entrepreneur Norman Crowley shares his remarkable journey and explains why ideas matter far less than the courage to start and the discipline to execute. As Norman explains, "Just begin. The customer will fix your idea very quickly." Show Notes Page: https://www.thehowofbusiness.com/r394-norman-crowley-just-begin/ What does it really take to come up with a good business idea, and does the idea even matter? In this compelling conversation, international entrepreneur Norman Crowley unpacks the truth behind entrepreneurial success, from his early welding business at age 12 to the billion-dollar gaming venture he nearly sold just hours before the 2008 financial crisis. Norman shares the mindset, discipline, and resilience required to build meaningful companies, including why execution - not the idea - is what actually determines whether you'll succeed. He also discusses the role of luck, navigating stress and health challenges, building world-class teams, and why big missions attract big allies. One of the most powerful moments of the episode comes when Norman explains his "hot coals" framework for overcoming fear: "Filling your mind with happy thoughts, being clear on the destination, and just keeping walking." Whether you're dreaming of your first business or wrestling with your next one, this episode offers rare honesty, inspiring insights, and practical wisdom from decades of entrepreneurial wins, losses, pivots, and reinventions. Norman Crowley is an Irish serial entrepreneur and climate-tech leader, best known as the Founder and Chairman of CoolPlanet, a global decarbonization and energy-efficiency group helping major corporations reduce emissions and achieve net-zero goals. Before turning to climate innovation, he built and sold several successful technology companies including Trinity Commerce, Inspired Gaming Group, and The Cloud. He also founded AVA, which converts classic cars into high-performance electric vehicles. Today, Norman is recognized for combining deep entrepreneurial experience with a mission-driven approach to solving climate change through technology, data, and industrial systems. 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

Discover a practical 10-step guide to creating an annual strategic plan for your small business. Learn how to review the past year, refine your vision, and conduct a SWOT analysis to identify priorities. Henry highlights the importance of setting measurable goals and KPIs while breaking down the plan into actionable quarterly steps. He shares best practices for effective planning, including limiting priorities and ensuring accountability. By the end, you'll be equipped to lead your business with clarity and intention, regardless of changing circumstances.

Stacey Brown Randall, a referral strategist, keynote speaker, and author, shares her insights on generating organic referrals without asking or incentivizing. She emphasizes the importance of the emotional experience clients have, defining a referable client experience as balancing feelings with deliverables. Stacey breaks down the three client stages and highlights how personal touch points can strengthen relationships. She also reveals how to identify referral hot zones and offers practical advice on maintaining connections with alumni clients to foster ongoing referrals.

Jodi Arrant, founder of J. Arrant Consulting and a seasoned bookkeeping expert, shares invaluable insights for small business owners. She discusses the importance of monthly bank reconciliations and common pitfalls, like uncategorized transactions. Jodi breaks down loan payment impacts on financial statements and offers best practices for documenting business meals. With over 17 years in the field, her practical advice equips entrepreneurs to streamline their financial processes and avoid costly mistakes, ensuring clarity and confidence in their bookkeeping.

Struggling with an endless to-do list? Discover how the Eisenhower Matrix can help you prioritize tasks and regain control of your time. This method distinguishes between what's urgent and what's truly important, allowing you to focus on what drives your business forward. Explore how it complements the Big Rocks approach and learn about a free AI-powered task management tool designed for efficiency. Transform your daily chaos into intentional productivity and say goodbye to decision fatigue!

In this engaging discussion, David Begin, a seasoned business leader known for his expertise in managing hourly workers, shares insights on motivating this crucial workforce. He emphasizes a vital mindset shift for employers, focusing on respect, flexibility, and employee well-being. The duo explores the importance of fostering purpose and connection in work, enhancing onboarding processes, and using recognition to boost morale. They reveal practical strategies to attract and retain hourly staff while creating a positive work culture that benefits everyone.

Toy designer and educator Cas Holman explores how embracing play can unlock creativity, reduce stress, and help small business owners reframe failure as part of growth. Show Notes Page: https://www.thehowofbusiness.com/586-cas-holman-play-in-business/ Cas Holman, renowned toy designer, educator, and author of Playful: How Play Shifts Our Thinking, Inspires Connection, and Sparks Creativity, shares with host Henry Lopez how play isn't just for children. It's a powerful mindset for entrepreneurs. From her early projects like Rigamajig and playful installations at New York's High Line to working with teams at Google, Nike, and the LEGO Foundation, Cas has made a career out of turning curiosity and experimentation into design breakthroughs. Cas and Henry discuss how small business owners can benefit from a more playful approach to work, shifting from rigid outcomes to exploration and possibility. Cas explains her "three essentials for adults to relearn play": release judgment, embrace possibility, and reframe success. Together they reveal how these principles foster innovation, collaboration, and agility - qualities essential for thriving in today's rapidly changing business environment. "The most important thing any human can be right now is flexible," Cas shares. "A playful mindset makes us more creative, more agile, and more open to what's possible." You will be inspired to integrate play into small business meetings, problem-solving, and daily business life. Transforming creativity from a childhood memory into a strategic advantage. Cas Holman is an award-winning toy designer, educator, and author. Founder and Chief Designer of Heroes Will Rise and creator of the acclaimed Rigamajig building kits, her work focuses on the combination of creativity, design, and learning through play. Formerly a professor of Industrial Design at the Rhode Island School of Design, Cas now consults with companies and teams around the world, including Google, Nike, and Disney Imagineering, on the power of play to inspire innovation. 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

Discover a framework for crafting a compelling sales pitch that emphasizes clarity and empathy rather than slick tactics. Learn the six core elements essential for effective pitching: Audience, Problem, Solution, Differentiator, Proof, and Call to Action. Explore a five-step process to engage your audience, activate their pain points, and present tailored solutions. Gain insights into the habits of great communicators and avoid common pitfalls in sales. Ultimately, clarity is key—people buy what they understand the fastest!