In this conversation, Cole Lundstrom, Gavin StGeorges, and Nick Gawreluk discuss the common challenges faced by print shop owners in achieving profitability. They explore the importance of understanding costs, pricing strategies, and the contribution margin as key factors in running a successful printing business. Nick shares insights from his extensive experience in the industry, emphasizing the need for clarity in financial data and the role of software in providing actionable insights. The discussion also touches on the future of data and AI in the printing industry, highlighting the potential for improved decision-making and profitability.

Interested in Print Profit?
https://www.printprofit.com/cole

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Takeaways

Understanding your costs is fundamental to profitability.
Sales figures can be misleading without profit clarity.
Contribution margin helps determine the true profitability of jobs.
Overhead costs must be factored into pricing strategies.
Contract printing can fill capacity but should be evaluated for profitability.
Data-driven insights can enhance decision-making in printing businesses.
Software tools can provide real-time financial insights.
A pricing matrix should be flexible based on market conditions.
AI can automate data analysis for better business insights.
Team alignment on financial goals is crucial for success.

Keywords

printing, profit, pricing strategies, contribution margin, overhead, contract printing, software, AI, financial insights

In this conversation, Nicole Pape shares her extensive journey in the screen printing industry, from her early days reclaiming screens to founding her own business, Embellisher. She discusses the challenges and opportunities in the used equipment market, the importance of understanding equipment valuation, and the nuances of contract work. Nicole emphasizes the need for effective marketing and branding while also highlighting her future plans for the industry, including innovative experiences for clients.

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Takeaways

Nicole started in the screen printing industry at 19.
She transitioned from production to real estate before founding Embellisher.
Embellisher was born out of a need for better equipment representation.
Understanding equipment valuation is crucial for both buyers and sellers.
Sellers often overestimate the value of their used equipment.
Contract work can be low margin and requires careful management.
Effective marketing and branding are essential for business growth.
Nicole emphasizes the importance of creating a safe space for clients.
The used equipment market is complex and requires thorough research.
Future plans include innovative experiences and proprietary appraisal software.

Keywords:


screen printing, equipment valuation, contract work, marketing, branding, Nicole Pape, Embellishr, used equipment market, industry insights, entrepreneurship

In this episode, Cole and Gavin discuss the challenges of hiring and building a team. They share their experiences and insights on finding the right people, determining the right time to hire, and creating a strong company culture. They emphasize the importance of reliability, respect, and clear communication in building a sustainable team. They also provide tips on the hiring process, including creating job descriptions, conducting interviews, and onboarding new hires. Additionally, they discuss the significance of firing bad fits and the need to prioritize the financial stability of the business.

Free Checklist
https://docs.google.com/document/d/1YOTtAZZAV26wfJVdUtXlHLXJ93ZFTfmfVORbXe1tV3g/edit?usp=sharing

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keywords

hiring, building a team, finding the right people, company culture, reliability, respect, communication, job descriptions, interviews, onboarding, firing, financial stability

takeaways

• Finding the right people and putting them in the right seat is critical for business success.
• Reliability, respect, and clear communication are key factors in building a sustainable team.
• Hiring should be based on specific roles and responsibilities, rather than hiring jack-of-all-trades.
• Firing bad fits is necessary for the overall health and success of the business.
• Creating a strong company culture and core values is essential for employee satisfaction and retention.

Chapters

00:00
Introduction and Importance of Hiring

03:09
Determining the Right Time to Hire

05:49
Creating a Strong Company Culture

09:06
Tips for the Hiring Process

11:32
Interviewing and Onboarding

15:36
Specializing Roles and Firing Bad Fits

18:26
Building a Sustainable Team and Prioritizing Financial Stability

21:53
Conclusion and Free Hiring Checklist