I Didn't Know I Was Going Broke - Chuck Meyers

In this episode, we are joined by Chuck Meyers, a flooring professional with over a decade of experience in the industry. Chuck started his own business in 2010, subbing from stores in the metro Detroit area. Recently, he realized the need to assess his business's financials and decided to use Floor Academy's business budget calculator to gain insights into his numbers.

Chuck shares his experience of using the business budget calculator and the valuable insights he gained from analyzing his business's financials. He discusses how the calculator helped him understand his costs, profits, and overall financial health of his business. Chuck also shares the challenges he faced in managing his finances and how the calculator helped him identify areas of improvement.

Throughout the episode, Chuck emphasizes the importance of understanding and managing the financials of a flooring business. He discusses the key components of the business budget, including costs, pricing, overheads, and profits, and how they impact the bottom line. Chuck also shares practical tips on budgeting, tracking expenses, and making informed business decisions based on financial data.

Chuck's story highlights the significance of financial literacy and proactive financial management in running a successful flooring business. By using Floor Academy's business budget calculator, he was able to gain clarity on his business's financials and make informed decisions to improve profitability.

If you are a flooring professional or a small business owner looking to gain insights into your business's financials, this episode provides practical tips and real-world experiences to help you manage your finances more effectively. Tune in to learn from Chuck's experience and get valuable insights on budgeting and financial management for your flooring business.

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Floor Academy is a podcast hosted by Kyle Hedin that provides small business information and guidance to flooring, tile and stone contractors on how to build a successful and sustainable business. The podcast aims to help contractors move from owning a job to owning an asset, by providing insights and strategies related to management, entrepreneurship, and networking.

Floor Academy covers a range of topics related to flooring, tile and stone business management, including small business advertising, paid traffic, and organic traffic. The podcast also provides information on promotional marketing, LLC setup, simple small business management, and networking strategies.

The podcast aims to help carpet, tile, stone, hardwood, floating floor, and many more types of contractors develop a deep understanding of business management, including effective networking and entrepreneurship strategies, which are crucial to achieving long-term success in the flooring industry. By discussing various topics related to small business management, such as finance, operations, marketing, sales, human resources, branding, advertising, interviewing, taxes, company structures, and more the podcast provides valuable insights to help flooring, tile and stone contractors become successful business owners.