In this episode of Mike and Blaine, Mike Milan sits in for Mike Milan while Mike is stranded in Denver. Mike and Blaine dive into the oft-dreaded topic of RFPs. Are responding to Request for Proposals an effective tactic for business development, as Mike contends, or the greatest scourge on small businesses since they were invented by the devil, as Blaine contends? Tune in and find out!

Don't miss out on the latest insights and entertaining discussions on entrepreneurship, small business, and random BS. Subscribe, follow, and like Mike and Blaine's "Business, Beer, and BS" and catch every episode!

Featured Beer: @GuinnessBreweryBalt @omenbrewingyeg

Mike: Open Gate Guinness Brewery - Old Fashioned Inspired Ale

Blaine: Omen Brewing - Puca Extra Stout

Thanks to our Beer Sponsors! Rachel Barnett from Gentle Frog, today’s guest host ‘Baltimore Mike,’ CPA Larry Weinstein, and Neighbor Pat!

Watch on YouTube: https://youtu.be/u2Tg3tfgKwM

Listen to all our episodes at mikeandblaine.com

cashflowmike.com

dryrun.com

#mikeandblaine #smallbusines #cashflow #finance #beer #entrepreneur #craftbeer

Show Notes

In this episode of the Business Beer and BS podcast, guest host Michael Milan and co-host Blaine Bertsch discuss the topic of Request for Proposals (RFPs). They share their experiences with RFPs in their respective industries and discuss the challenges and strategies involved in responding to RFPs. They emphasize the importance of relationships, communication, and understanding the needs of the client when navigating the RFP process.

They also touch on the fairness of RFPs and the impact of external factors such as supply chain resiliency and market conditions. The episode concludes with a lighthearted discussion about their friendly rivalry and the tradition of exchanging a decanter of whiskey based on the outcome of a football game. In this conversation, Blaine and Michael discuss the process of responding to Request for Proposals (RFPs) and share insights and tips for success.

They cover topics such as the importance of understanding the RFP requirements, the value of building relationships with decision-makers, and the need to differentiate yourself from competitors. They also discuss the challenges of pricing and discounting, as well as the post-approval assessment and follow-up after submitting an RFP. Overall, the conversation provides valuable advice for anyone involved in the RFP process.

Takeaways

• Responding to RFPs requires careful reading and understanding of the specifications and requirements.
• Building relationships and maintaining open communication with all stakeholders can be crucial in the RFP process.
• The fairness of RFPs can be subjective, and the optics of fairness may not always align with reality.
• External factors such as supply chain resiliency and market conditions can impact the RFP process.
• Building relationships with decision-makers and key stakeholders can give you an advantage in the bidding process.
• Differentiating yourself from competitors by highlighting unique value propositions and addressing unasked questions can make your proposal stand out.
• Pricing and discounting should be carefully considered to ensure profitability and avoid a race to the bottom.
• Conducting a post-approval assessment and learning from both successful and unsuccessful bids can help improve future proposals.

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Catch more episodes, see our sponsors and get in touch at https://mikeandblaine.com/

When we talk about cutting expenses, we often use the phrase “trimming the fat.” True, cutting operating expenses is one way to make more money in a business, but there is an art to when, where, and why a cost is eliminated. Stop losing money and hindering your growth. Join Mike & Blaine as they talk about cutting costs in your business and streamlining an operation in this week’s episode.

Don't miss out on the latest insights and entertaining discussions on entrepreneurship, small business, and random BS. Subscribe, follow, and like Mike and Blaine's "Business, Beer, and BS" and catch every episode!

Featured Beer: @OskarBluesNC @snakelakebrewco

Mike: Oskar Blues - Old Chub Scotch Ale

Blaine: Snake Lake - Speed Cobra NEIPA

Thanks to our Beer Sponsors! Rachel Barnett from Gentle Frog, ‘Baltimore Mike,’ CPA Larry Weinstein, and Neighbor Pat!

Watch on YouTube: https://youtu.be/cl2KQudZK1Q

Listen to all our episodes at mikeandblaine.com

cashflowmike.com

dryrun.com

#mikeandblaine #smallbusines #cashflow #finance #beer #entrepreneur #craftbeer

Show Notes

In this episode, Mike and Blaine discuss the importance of cutting costs in business. They highlight the four ways to make more money in a company: increasing sales, cutting cost of goods sold, increasing prices, and cutting expenses.

They emphasize the need to be strategic when cutting costs and not to touch expenses that drive revenue. They also share personal stories and examples to illustrate the impact of cutting the wrong expenses. The episode concludes with a mention of Dryrun, a software that helps businesses forecast cash flow and model scenarios. In this conversation, Mike and Blaine discuss the difficult decisions business owners face when cutting costs and reducing expenses.

They reflect on their own experiences and the challenges of letting go of employees. They emphasize the importance of considering the impact on the business's survival and the need to focus on revenue-generating activities.

They also discuss the significance of staying resilient and hanging on for the potential turning point that could change the fortunes of the business. The conversation concludes with a reminder to carefully evaluate expenses and make strategic decisions to drive revenue.

Takeaways

• There are four ways to make more money in a company: increasing sales, cutting cost of goods sold, increasing prices, and cutting expenses.
• When cutting costs, be strategic and avoid touching expenses that drive revenue.
• Cutting the wrong expenses can have a negative impact on revenue and customer experience.
• Consider using software like Dryrun to forecast cash flow and model scenarios in order to make informed decisions about cost cutting. Cutting costs should focus on expenses that do not drive revenue
• Consider the impact on the business's survival when making difficult decisions
• Stay resilient and hang on for potential turning points
• Evaluate expenses strategically to drive revenue

Support the Show.

Catch more episodes, see our sponsors and get in touch at https://mikeandblaine.com/

I keep hearing the term being tossed around about how easy it is to become a micro-influencer. First of all, what in the heck does that even mean, and how is that a path to prosperity? Is today’s modern economy and entrepreneur completely changing the landscape of business? Find out in this episode of Mike & Blaine what it takes to turn your ingenuity, charm, and personality into a paycheck.

Don't miss out on the latest insights and entertaining discussions on entrepreneurship, small business, and random BS. Subscribe, follow, and like Mike and Blaine's "Business, Beer, and BS" and catch every episode!

Featured Beer: @HellorHighWaterBrewing @les.trois.mousquetaires

Mike: Hell of High Water Brewing - Float the River Kolsch

Blaine: Les Trois Mousquetaires - Stout Impériale

Thanks to our Beer Sponsors! Rachel Barnett from Gentle Frog, ‘Baltimore Mike,’ CPA Larry Weinstein, and Neighbor Pat!

Watch on YouTube: https://youtu.be/BFQzPJPPuzE

Listen to all our episodes at mikeandblaine.com

cashflowmike.com

dryrun.com

#mikeandblaine #smallbusines #cashflow #finance #beer #entrepreneur #craftbeer

Show Notes

In this conversation, Mike and Blaine discuss the concept of influencers and their different perceptions of what it means. They touch on the controversies surrounding Pete Rose, Mark McGuire, Sammy Sosa, and Barry Bonds in the world of baseball. The conversation veers off into a discussion about the importance of competition and the influence of political figures like Trump and Biden.

Overall, the conversation explores the idea of influence and how it can be positive or negative. The conversation explores the concept of influencers and the distinction between thought leaders and influencers. They discuss the different levels of influencers, such as micro influencers and macro influencers, and the criteria for being considered an influencer.

They also touch on the authenticity and credibility of influencers, as well as the role of salespeople in influencing purchasing decisions. The conversation ends with a teaser for the next episode, where they will further discuss the topic of influencers.

Takeaways

• Influencers are individuals who have a following and can influence others through their actions or opinions.
• The perception of influencers can vary, with some seeing them as positive figures sharing knowledge and others seeing them as individuals who promote products for personal gain.
• Controversial figures like Pete Rose, Mark McGuire, Sammy Sosa, and Barry Bonds have all had an influence on the world of baseball, but their actions and reputations differ.
• Competition is an important aspect of sports and other areas of life, and it can lead to improved performance and innovation.
• Political figures like Trump and Biden are also influencers, as their words and actions have the power to influence others. The distinction between thought leaders and influencers lies in the perception of authenticity and credibility.
• Micro influencers are focused on a specific niche and are considered subject matter experts.
• The success of influencers depends on the connection and authenticity they establish with their audience.
• Salespeople play a different role than influencers, as they focus on selling products rather than providing impartial information.
• The next episode will delve deeper into the topic of influencers and the impact of taking money from third parties.

Support the Show.

Catch more episodes, see our sponsors and get in touch at https://mikeandblaine.com/