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Buy the Numbers

Buy the Numbers

著者： Mike Payne
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 A deep dive into the financials of running a Manufacturing business.2024 マネジメント マネジメント・リーダーシップ 経済学
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  • Golf, Grit, and CNC: Inside the Launch of Hanna Golf, Ep #19

    Golf, Grit, and CNC: Inside the Launch of Hanna Golf, Ep #19
    2025/05/29
    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 分
  • 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
    2025/05/15

    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 分
  • Personal Guarantees & Loan Covenants: How to Not Get Burned, Ep #17

    Personal Guarantees & Loan Covenants: How to Not Get Burned, Ep #17
    2025/05/01
    Most of us would never machine a part without checking the tolerances first — so why do so many shop owners sign off on financing agreements without understanding the performance “tolerances” our banks are quietly measuring us against? In this episode of Buy the Numbers, commercial banker Danny O’Keefe returns to break down two terms that sound like dry legal jargon but carry real operational consequences: loan covenants and personal guarantees. If your shop relies on bank financing to grow, these aren't just details — they’re the guardrails shaping what we can do, and what could get us in trouble. Loan covenants aren’t just something we sign and forget. They’re the metrics banks use to judge whether our business is still a safe bet. From debt service coverage to balance sheet leverage and owner distributions, these numbers can quietly restrict how we grow, how we pay ourselves, and how much flexibility we have in tough times. If we’re not checking them ourselves when we close the books, we could be tripping violations without even knowing — and that’s a problem our lender won’t ignore. Then there’s the personal guarantee — something a lot of us sign with a shrug, not realizing what it really means. We dig into how it works, when it’s enforced, and why it's not usually about losing your house — it’s about staying accountable and engaged if the business hits rough waters. With real-world examples, Danny explains how guarantees play out in practice, how banks try to resolve issues, and why going dark is the worst move you can make. The biggest surprise for many: almost everything about your loan is negotiable — including the covenants and guarantees. But only if you understand your balance sheet, your bank’s priorities, and how to advocate for yourself. Whether you’re taking out your first note or renegotiating a renewal, this episode gives you the tools to treat your financing like a partnership, not a one-and-done transaction. By the end, you’ll walk away with a clearer view of your bank relationship — not just as a source of capital, but as a strategic tool. One that, when managed well, can protect you and your shop… and when ignored, can quietly start to chip away at your freedom to operate. You will want to hear this episode if you are interested in... (0:00) What personal guarantees really mean—and why banks don’t want your keys(0:29) Achieve on-time delivery with ProShop ERP(1:58) Guest reintroduction: Danny’s background in commercial lending for shops(4:48) Defining the "big scary words": Loan covenants and personal guarantees(8:12) How banks evaluate owner distributions and when limits apply(9:50) Balance sheet leverage: Why your assets vs. liabilities matter(12:53) UCC filings: What they are and why they get overlooked(14:37) Proactive vs. reactive reporting: How to stay on your bank’s good side(23:44) Types of personal guarantees and what really triggers enforcement(26:46) Learn how to grow your top and bottom-line with CLA(30:24) What happens in worst-case scenarios—and how communication can save you(34:14) How outside consultants and investors can step in when banks get nervous(40:57) What a strong balance sheet might mean for guarantees(46:43) Negotiating your covenants: Why the whole loan is a conversation(52:54) The most important things to pay attention to at closing(56:35) Why you need to listen to the MakingSparks podcast Resources & People Mentioned Achieve on-time delivery with ProShop ERPBanking Secrets for Manufacturers: How to Secure the Cash You Need, Ep #12 Connect with Dan O’Keefe Busey BankConnect on LinkedIn 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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    57 分

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