Welcome to another exciting episode of "Let's Talk Business"!

In today's conversation, our host, Meny Hoffman, sits down with Pinchas Engel, founder of Pinit Bookkeeping, to delve deep into the world of e-commerce and financial management.

Pinchas shares invaluable insights on how to stand out in the competitive e-commerce landscape, the pivotal roles of bookkeepers, controllers, and CFOs, and the importance of delegating tasks to elevate your business.

From understanding key financial metrics and their impact on profitability to navigating the challenges posed by COVID-19, Pinchas brings a wealth of knowledge to help business owners align their vision, financial strategies, and marketing efforts. Whether you're an early-stage entrepreneur or a seasoned business owner, this episode is packed with practical tips on improving your financial literacy, creating a structured business model, and hiring the right financial support to ensure success.

Tune in to learn why understanding your finances is crucial and how you can leverage expert advice to make better decisions and grow your business profitably. Let's talk business with Pinchas Engel!

BIO :

Pinchas Engel founded Pinit Bookkeeping, a firm dedicated to helping established e-commerce sellers. Pinchas's main mission is to give his clients clear insights into their finances, turning complex data into simple, actionable strategies. With a knack for making numbers make sense, he’s helped many clients boost their profits, making Pinit a trusted place for sellers looking for financial support.

PLEX GROUP:

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TIMESTAMPS :

06:20 Business owners must know key financial metrics.

08:08 Key business metrics: return on investment, profitability.

13:10 High product profit gives room for contingencies.

17:12 New companies need strategy to succeed.

19:31 CFO focuses on future; bookkeeper, controller on past.

21:46 Marketing spends should align with company objectives.

26:33 Outsourcing services for business growth and efficiency.

29:54 Start with pricing, then justify cost.

32:55 Prefers business conversation over transaction categorization stress.

35:46 Create a clear business roadmap for success.

39:34 "Assess skills, seek support, and plan growth."

1. Identify tasks you are not proficient at or do not enjoy and delegate them to your team. Make a list of tasks to delegate and assign them to team members or outsource as necessary.

2. Implement systems to track and manage inventory and sales data, especially important for e-commerce. Invest in analytics tools and review inventory data weekly to avoid over or under-stocking.

3. For early-stage businesses, consider outsourcing bookkeeping and hiring a fractional CFO to manage finances cost-effectively. Research and engage a bookkeeping service and fractional CFO to ensure professional financial oversight.

4. If you're a business owner, objectively assess your financial skills and seek support where needed. Take a financial literacy course or workshop, and consider consulting a CFO to get a professional audit of your financial strategy.

5. Develop a structured business model and a hiring roadmap that evolves as your company grows. Draft a business model that includes your long-term goals and a phased hiring plan based on projected growth milestones.

Coming to you from the Ptex headquarters in Brooklyn, NY, this podcast is for no-nonsense advice to help you learn, grow, and lead.

Today, I’m excited to welcome back my good friend and past speaker of the Let’s Talk Business Conference, Eric Lofholm

Eric Lofholm is a Master Sales Trainer who has taught his proven sales systems to thousands of professionals around the world. He is President and CEO of Eric Lofholm International, Inc., an organization he founded to professionally train people on the art and science of selling. Eric has been teaching people how to make more sales since 1999.

In today’s insightful discussion, our host Meny Hoffman sits down with master sales trainer Eric Lofholm to delve into the intricacies of achieving sales success. Eric shares his expertise on the pivotal "inner game" of sales, emphasizing the importance of mindset and beliefs in driving performance. From viewing selling as a service to overcoming the fear of rejection, Eric offers practical tips and strategies to elevate your sales game.

Tune in as we explore the transformational sales triangle, uncovering the critical roles of mindset, technique, and consistent action. Eric also shares his personal journey from struggling salesperson to top producer, highlighting how proper training and a positive outlook can revolutionize your career. Whether you’re an entrepreneur, salesperson, or sales manager, this episode is packed with valuable insights on goal setting, planning, and the art of closing deals.

Join us and learn how to master the inner and outer game of sales, leverage content creation and technology, and most importantly, fall in love with the sales process itself. Get ready for a transformative conversation that will reshape your understanding of sales and set you on the path to success!

This and so much more only on the Let’s Talk Business Podcast… Let’s get right to our conversation with Eric Lofholm

Links :

wwww.saleschampion.com
https://www.linkedin.com/in/ericlofholm

https://www.facebook.com/ericlofholm

https://www.youtube.com/saleschampion1

https://www.facebook.com/EricLofholmInternational

TIMESTAMPS :

05:34 Explore strengths and passion for successful sales.

06:32 Being in sales is universal, skills essential.

11:13 Negative beliefs create roadblocks, especially in sales.

14:51 Prepare presentation with clear desired outcome defined.

18:43 Adapt communication and processes to each client.

21:52 Self-acknowledgment boosts sales success and confidence.

25:09 Transition from salesperson to manager requires different skills.

26:55 Consider compensation, leads, and text marketing efficiency.

30:35 Free goal-setting classes offered twice yearly online.

33:50 Key sales tips: positive mindset, action-based goals.

1. Eric Lofholm emphasizes the crucial role of maintaining a positive mindset in sales. He suggests the importance of being mindful of your thoughts, advising you to catch and replace negative thoughts with optimistic ones.

2. Focusing on actions rather than outcomes is another key lesson. Lofholm encourages setting action-based goals, such as making a certain number of prospect calls daily, instead of fixating on sales numbers..

3. Regular and structured planning is vital for sustained success. Eric highlights the importance of conducting mid-year and annual reviews to set and adjust your goals. By using the SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) framework, you can make your goals clearer and more actionable.

4. Understanding and being flexible in the sales process is essential. Mapping out the stages of your sales process and reviewing them periodically ensures that you stay in control.

5. Effective sales management involves understanding and facilitating your sales team. Knowing what motivates each salesperson and understanding their specific challenges allows you to customize your management approach.

Welcome back to another insightful episode of "Let's Talk Business."

Today, our host Meny Hoffman dive deep into the intricacies of happiness, satisfaction, and fulfillment. Naftali shares his perspective on why fleeting happiness should take a backseat to the enduring pursuit of meaning and satisfaction. Drawing from his experience as a managing director and financial advisor at JPMorgan and his best-selling book "You Revealed," Naftali emphasizes the importance of living authentically, harnessing unique skills, and practicing gratitude.

In this episode, we'll explore essential financial wisdom, such as the importance of budgeting, responsible spending, and understanding investments to avoid risky ventures. We'll also hear Naftali's thoughts on economic cycles, adjusting standards of living, and prioritizing savings for the future. As Naftali and Meny tackle the challenges of modern financial pressures, they provide actionable advice for those living paycheck to paycheck.

We'll also illuminate personal development themes, like recognizing one's potential, focusing on self-improvement, and steering clear of futile comparisons. With discussions on self-esteem, the success of "You Revealed," and Naftali's plans for further contributions to self-development, this episode promises to inspire and empower you on your journey toward a fulfilling and responsible life. Tune in now to gain valuable insights into making meaningful changes in your financial and personal life.

Links :

Buy his book : https://www.artscroll.com/Books/9781422627464.html

Episode Timestamps :

05:29 Think twice before spending to avoid regret.
07:19 Choose long-term enjoyment through disciplined financial decisions.
09:44 Save, budget, and plan for financial security.
13:03 Importance of budgeting for understanding expenses and value.
18:07 Stocks yield 6-10% above risk-free treasury.
19:09 Questioning 14% return as less risky than stocks.
25:16 Comparing people is ridiculous; spurs personal growth.
26:48 Focus on your own potential, not others.
31:03 Professional perspective on personal development and growth.
33:18 Do you communicate, keep promises, seek shortcuts?
38:09 Gratitude is vital for happiness and fulfillment.
40:32 Be grateful for what you have, always.
44:19 Book changes lives, inspires self-development and learning.
46:20 The impactful Torah book is challenging yet popular.
50:01 Closing remarks encouraging sharing and subscribing.

1. Understanding and navigating economic fluctuations are crucial for maintaining financial health. By being aware of these cycles, individuals can make informed decisions about saving, investing, and spending, which can lead to more stable and secure financial outcomes.

2. Early financial planning is key to long-term stability. Initiating savings, investments, and retirement plans at the start of one's career can compound over time, providing a robust financial buffer and enabling greater financial freedom in the future.

3. Achieving financial balance is essential for a satisfying life. It's important to enjoy the present while also ensuring future financial security. This involves making conscious choices about spending and saving, allowing for both immediate enjoyment and long-term financial goals.

4. Breaking free from the paycheck-to-paycheck cycle requires deliberate financial action. By setting goals, reducing unnecessary expenses, and increasing income through various means, individuals can create a more sustainable financial situation that allows for savings and investment.

5. Budgeting is a powerful tool for uncovering financial vulnerabilities and creating opportunities for advancement. By regularly reviewing and adjusting a budget, individuals can identify areas where they can cut back on expenses and redirect funds towards career development or other investments that can lead to increased income.

Happiness, satisfaction, fulfillment, purpose, unique skill sets, gratitude, perspective, Naftali Horowitz, Meny Hoffman, Let's Talk Business podcast, personal development, economic cycles, financial advice, responsible spending, budgeting, comparing oneself to others, potential for growth, JPMorgan, Yu Revealed, investment risks, self-esteem, financial planning, retirement savings, reckless spending, fraudulent investment schemes, career advancement, time management, communication skills, self-improvement, book readership, Torah learning

Leading a purpose-driven life is now a lot easier to do through the help of the wisdom of Barry Shore from The JOY of Living as he breaks down his acronyms.

When you lead a purpose-driven life, you can go MAD—Make A Difference. This is just one of the acronyms guest Barry Shore from The JOY of Living has under his sleeves, helping people live a healthier, wealthier, and wiser life through his memorable wisdom and insights. In this episode, he joins Meny Hoffman to impart some of those with us by breaking down the three fundamentals of life and giving some tips on how to take care of them to live our best lives. Barry also shares with us his story, one that many would have given up on, but still, he managed to overcome. He talks about what caused that mindset shift and how he built and preached it to many. From the personal to the professional aspects of our lives, Barry digs up some great tips and tools about being profitable, overcoming stress, living inspirationally, and more.

Our guest is Barry Shore also known as the Ambassador of JOY. I’m not going to read the full bio that Barry prepared because I want you to read this episode. This episode is contagious with the amount of positivity and joy shared and much no-nonsense advice on how you could be a better person in your life. Read Barry’s story and how he turned that story into a lifelong mission. Without further ado, here is my interview.

• www.BarryShore.com/free
• www.BarryShore.com
• https://www.LinkedIn.com/in/barryshore/
• @BarryEShore – Twitter
• https://www.Facebook.com/groups/joyoflivingclub
• https://www.Instagram.com/barryeshore/
• https://www.YouTube.com/channel/UC-Tn96AXiTFWtyMDGifVSKw

00:00 PTEX Group CEO supports business growth mindset.
04:10 Spreading happiness, purpose-driven life leads to success.
07:18 2020 pandemic will be remembered for years.
10:10 Seven-foot walking wand made by a Zen master.
15:33 Reflecting on past success and mindset shift.
17:51 Barry involved in business and sense of wonder.
19:54 Questioning existential suffering and search for purpose.
23:55 Show interruption to emphasize the shift happens.
28:43 Barry, how can we be more positive?
30:20 Book titled "Joy of Living" promotes positivity.
33:57 Emphasize kindness and wisdom in all interactions.
35:24 Two ways of looking at a situation.
39:43 Don't wiggle toes for 8 seconds.
44:06 Find links in show notes for gifts.
46:44 Closing remarks from Let's Talk Business podcast.

Growing up in Williamsburg, Chaim Berkovic learned the importance of having a vision; years later, as the president and founder of Skyscraper Insurance, he was able to actualize that vision, even though the ways to achieve it were sometimes unclear. In this fascinating conversation, Meny asks Chaim about some of the methods he used to create and grow his business, as well as his strategies for being an effective leader. Listen in as they talk about transmitting passion to employees, how to maintain “brutal accountability” while also creating a positive company culture, the role of inspiration in leadership, what can be learned from failure, why feedback is indispensable, and more.

[00:01 - 05:00] The Visionary's Journey

• Chaim’s transition from early failures to founding Skyscraper Insurance

• The importance of learning from mistakes and taking calculated risks

• How personal challenges fueled Chaim’s entrepreneurial spirit

[05:01 - 15:00] Risk Management and Client Trust

• How Skyscraper Insurance approaches risk management differently

• The significance of understanding client needs and building trust

• Insights into the complexities of the insurance industry

[15:01 - 25:00] Leadership Beyond the Boardroom

• The role of inspirational leadership in building a successful team

• Balancing company culture with high performance and accountability

• Strategies for nurturing a positive, growth-oriented workplace

[25:01 - 35:00] Mastering Growth and Scalability

• Chaim’s perspective on business growth and strategic acquisitions

• The impact of community and relationship-building in expansion

• Learning from industry shifts and adapting for scalability

[35:01 - 46:08] The Mastermind Effect

• The benefits of participating in mastermind groups for business leaders

• How shared knowledge and accountability drive success

• Chaim’s personal experiences and gains from mastermind involvement

Want to connect with Chaim? Follow him on LinkedIn. Head to Skyscraper Insurance for a better tomorrow!

Key Quotes:

"The biggest risk takers are the ones that know back end the calculated risks behind it." - Chaim Berkovic

"If your circle doesn’t inspire you, you’re in the wrong circle." - Chaim Berkowick

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