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  • Smart Money Moves: How to Grow Your Shop Without Breaking the Bank, Ep #22

    Smart Money Moves: How to Grow Your Shop Without Breaking the Bank, Ep #22
    2025/07/10
    I’m halfway through the year and, like many of you, I feel as if it’s still February. Orders are steady but not spectacular, and every headline seems designed to keep shop owners awake at night. That’s why I invited my friend and financing partner Ty Willis back on Buy the Numbers—because cautious optimism only works if your cash flow can keep up with your ambitions. Ty funds machine tools every day, from three-spindle startups to $40 million fab shops, so he sees the real score behind the press releases. In this conversation we pull the veil off equipment financing: when to borrow, when to walk away, and how to keep your banker, your line of credit, and your future robots playing nicely together. We also unpack why a “slow-and-steady foundation” beats any shiny new five-axis—unless that five-axis comes with the cash-flow runway to feed it. You’ll hear Ty’s three phases of lending wisdom, my own war stories of growing Hill Manufacturing (including a 24-spindle acquisition we’re closing in two weeks), and a practical playbook for calling your shot six months before you sign a PO. We even run a lightning round on interest rates, Section 179, and whether the latest “no payments for six months” gimmick is really a deal. If you’re tired of financing offers that treat every shop the same—or tired of hearing “rates are too high, maybe next year”—this episode gives you the numbers, questions, and mindset to finance growth without betting the farm. You will want to hear this episode if you are interested in... (0:00) Ty’s “run lean first” mantra and why slow & steady wins the race(0:25) Check out Verdant Commercial Capital to gain a partner in your corner(1:30) Ty’s path from tech to ten years in independent equipment finance(4:53) Job shops are softer, DOD/aerospace is humming, and diversification is critical(10:09) Using cash flow as the real growth lever; the 24-spindle acquisition example(11:49) Ty’s three phases of lending maturity (valuing consultative restraint over volume)(17:36) Case study: consolidating eight lenders into one partner to free a CFO’s week(22:33) Automation financing myths—why cobots and AGVs often outlive spindles and deserve funding(26:40) Sign up for updates about Modern Machine Shop’s Top Shops 2025(27:04) Breathing new life into 15-year-old machines with robots, bar feeders, better workholding(29:52) Pre-qualification and “calling your shot” before IMTS or FABTECH(33:27) South-Dakota-to-Florida move: financing a $500K 5-axis and hidden relocation costs(37:41) Chicago fab/machine shop’s methodical growth with bargain used five-axis machines(41:42) Ty’s four-step engagement playbook: 20-minute call, one-page soft-pull app, roadmap, relationship(44:19) Lightning round: rates, imperfect books, Section 179 reality, deferred-payment traps(55:28) Why you need to listen to the Lights Out podcast Resources & People Mentioned Smart Money Moves: Equipment Financing Tips with Ty Willis, Ep #5The Cashflow Advantage: Why the Right Banker Makes All the Difference, Ep #6Banking Secrets for Manufacturers: How to Secure the Cash You Need, Ep #12Sign up for updates about Modern Machine Shop’s Top Shops 2025Why we leverage the expertise of CliftonLarsonAllen Connect with Ty Willis Check out Verdant Commercial Capital to gain a partner in your cornerVerdant Commercial Capital on LinkedInConnect with Ty 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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    56 分
  • The Marketing Metrics That Actually Matter, Ep #21

    The Marketing Metrics That Actually Matter, Ep #21
    2025/06/26
    What happens when a former MLB.com writer ends up leading marketing for one of the most complex machine tool portfolios in the country? You get a masterclass in translating business goals into real marketing ROI. In this episode of Buy the Numbers, Jon Star—Director of Marketing at Methods Machine Tools—joins us for a conversation about data-driven marketing, building trust with job shops, and how to actually prove your impact in manufacturing. Jon shares his winding path from sports journalism to enterprise tech to metalworking, revealing how his background in internal communications and executive messaging taught him the metrics that matter. He explains how marketing can (and should) directly support sales by understanding how the company makes money, building content around that mission, and tracking revenue—not just leads. We also dive into the real challenges job shops face when trying to diversify into new industries, and how methods like CRM implementation, service-first messaging, and persona-driven marketing help shops target the right customers with confidence. Whether you're a machine tool distributor, job shop owner, or marketer trying to earn your seat at the executive table, this episode is packed with practical insights. You will want to hear this episode if you are interested in... (0:00) Welcome to Buy the Numbers—Nick finally makes his co-host debut(0:46) Stay tuned to learn more about Top Shops 2025!(1:54) Jon Star’s unexpected journey from baseball writing to industrial marketing(8:34) Knowing how your company makes money is the foundation of great marketing(12:04) Branded house vs. house of brands explained(14:22) Selling to small job shops vs. large enterprises(15:50) Why shop owners need to market differently based on business goals(17:05) Hill’s strategy for diversifying into new industries(19:04) How Methods supports diversification through engineering and service(22:25) Measuring marketing success and hitting the right customer pain points(27:51) Why a focus on service is the best sales strategy(29:25) Grow your top and bottom line with CLA(30:03) What we’ve learned from building empathy into our marketing(31:37) Jon’s first six months: Listening, shadowing, and learning from the field(35:05) Internal dashboards vs. “sicko spreadsheets”: Jon’s tracking habits(37:41) Mike’s CRM journey—when it’s finally time to scale(39:00) MQL vs. SQL: What they mean and why they matter(46:18) Attribution doesn’t have to be perfect—but it has to be useful(47:47) Sales, marketing, and product must operate as one flywheel(51:45) Why you need to talk to your long-standing customers (and team)(56:05) Don’t be afraid to start with something basic(1:05:35) How ProShop can help you achieve on-time delivery Resources & People Mentioned Marketing that Attracts WorkMeaghan Ziemba on MakingSparks Connect with Guest Name Connect with Jon on LinkedInJStart@MethodsMachine.comMethods MachineMethods on InstagramHow ProShop can help you achieve on-time delivery 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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    1 時間 7 分
  • Beyond the Books: Turning Your Accounting into a Competitive Advantage, Ep #20

    Beyond the Books: Turning Your Accounting into a Competitive Advantage, Ep #20
    2025/06/12
    What if I told you that your accounting function could be your greatest weapon in the fight for better margins, smarter decisions, and stronger growth? Too often, we treat accounting like a chore—just another box to check, another invoice to send. But if you're serious about building a resilient, efficient, and scalable manufacturing business, then it's time to look at accounting as a strategic function. In this episode, I’m joined by three experts from CLA—Phil Hanke, Mary Strand, and David Mauch—who live and breathe operational accounting for manufacturers. We dig into how small to midsize shops can build better systems, forecast more effectively, and make real-time decisions rooted in good data (not gut feelings). We’re not talking about spreadsheets for the sake of spreadsheets. We’re talking about boots-on-the-floor insight, setting up your ERP and accounting tools the right way, and actually using the information you collect to improve margins, reduce waste, and grow confidently. From budgeting basics to cash cycle calculations, this episode is packed with practical takeaways. If your current financial reporting feels like a black box—or if your books are still being run by a well-meaning family member without formal training—you’ll want to lean in. Because accounting isn’t just about reconciling the past; it’s about owning your future. You will want to hear this episode if you are interested in... (0:00) Mike shares a personal success story about ROI from investing in ProShop ERP(0:20) Why I believe you need to invest in ProShop ERP(2:25) Introducing guests from CLA and why their work matters to manufacturers(5:04) The labor gap isn’t just on the floor—it’s in accounting and admin roles too(8:26) Mary defines “operational accounting” and why it starts on the shop floor(12:54) Steel toes and inventory flows: how to diagnose inefficiency at ground level(14:53) Budgeting isn’t optional—Mary breaks down how to start simple and get real(19:11) Why budgeting should be a living, breathing document(20:46) Phil walks through how to turn planning into performance KPIs(24:32) Gross margin, product-line profitability, and how to use your income statement(27:43) Working capital and cash cycles—don’t let your AR terms bury your business(29:55) Pricing strategy that accounts for your cost of capital(33:00) Stay tuned for more information about Top Shops 2025(33:25) Frequency of financial monitoring—daily vs. monthly vs. quarterly(34:47) Predictive vs. lagging indicators and building a metrics dashboard(38:38) David explains how to collect actionable data without fancy tools(43:48) Connecting floor-level data to pricing, burden rates, and margins(47:22) How 5S and competition drive operator engagement in performance metrics(53:03) The danger of underutilizing your ERP or treating QuickBooks like a checkbook(56:00) Why financial statements should align with what’s happening on your floor(58:16) Low-hanging fruit you should focus on now(1:01:47) Check out the Machine Shop Mastery podcast Resources & People Mentioned Stay tuned for more information about Top Shops 2025Machine Shop Mastery Connect with Mary, Phil, and David with CLA Mary StrandPhil HankeDavid Mauch 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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    1 時間 3 分
  • 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
  • Navigating the New Tariff Terrain: What Manufacturers Need to Know Now, Ep #16

    Navigating the New Tariff Terrain: What Manufacturers Need to Know Now, Ep #16
    2025/04/24
    Tariffs aren’t just a line item buried in your supply chain—they’re a fast-moving, often misunderstood force that could have a massive impact on your profitability, pricing, and even your global strategy. In this eye-opening episode of Buy the Numbers, Jennifer Clement and Leslie Boyd from CLA join me for a masterclass in tariff mitigation strategies. As volatility re-emerges on the global trade front, Jennifer and Leslie offer clarity, practical steps, and a proactive roadmap that manufacturers of all sizes can follow. Jennifer and Leslie break down the reality that waiting for the rules to settle is no longer a viable plan. Instead, they introduce a three-bucket framework that helps businesses act now, in six months, and long-term—everything from basic “tariff hygiene” and invoice scrubbing to more advanced strategies like tariff engineering, duty drawback, and setting up foreign trade zones. The conversation also dives into how manufacturers can hold their vendors accountable, optimize their pricing inputs, and think creatively about global operations in a world where tariffs can change mid-shipment. Whether you’re sourcing machines from overseas or fielding questions from customers about cost projections, this episode equips you to speak the language of tariffs fluently—and use that fluency to your financial advantage. Rounding out the discussion is a preview of CLA’s upcoming webinar series, a free, multi-part educational deep dive for manufacturers who want to master cost control in a tariff-heavy environment. This isn’t just about playing defense—it’s about making moves that could shield your margins, even amid economic uncertainty. You will want to hear this episode if you are interested in... (0:00) Understanding why tariffs are urgent now and how they impact manufacturers(0:14) Learning how CLA helps manufacturers grow their top and bottom line(1:35) Getting to know Leslie Boyd and Jennifer Clemente from CLA(4:38) Discovering why a proactive strategy is essential despite tariff volatility(6:13) Clarifying common misconceptions about tariffs and pricing strategies(10:17) Exploring Bucket #1: “Good tariff hygiene” and how invoice scrubbing can save you(17:30) Learning additional compliance strategies like transfer pricing and duty drawback(18:38) Hearing about the Lights Out podcast and automation trends in manufacturing(20:21) Understanding how currency hedging can protect against cost fluctuations(22:16) Breaking down the first sale rule and how it reduces tariff costs(24:55) Exploring Bucket #2: Using bonded warehouses and free trade zones to defer tariffs(28:19) Learning how tariff engineering can reduce exposure by rethinking product design(30:44) Exploring Bucket #3: Re-imagining supply chains and reshoring for long-term gains(33:51) Understanding the process and odds of getting tariff relief through exclusions(36:10) Getting an overview of CLA’s upcoming webinar series on tariff mitigation strategies(40:24) Completing the Top Shops survey to benchmark your shop against the industry Resources & People Mentioned CLA Tackling Tariffs webinar seriesTackling Tariffs (Deck to accompany episode)Complete the Top Shops survey and let the numbers tell the story Connect with Jennifer Clement and Leslie Boyd CliftonLarsonAllen (CLA)Connect with Jennifer on LinkedInConnect with Leslie 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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    41 分
  • The Quiet Cut That's Loudly Threatening Small Manufacturing

    The Quiet Cut That's Loudly Threatening Small Manufacturing
    2025/04/19

    Most small manufacturers don’t realize they’re being quietly supported by one of the most impactful public-private partnerships in the country. The Manufacturing Extension Partnership (MEP) has long been the hidden backbone behind training programs, grant facilitation, process improvements, and critical tech upgrades for shops across the U.S. But recent Federal decisions to defund these programs—without clear communication or reasoning—have sparked confusion and alarm among industry insiders.

    In this episode, a passionate roundtable of manufacturers and advocates reveals just how deeply the MEPs have shaped their businesses, supported workforce development, and opened doors to opportunity they couldn’t have accessed alone. From AR-integrated quoting tools to automation investment guidance, these stories show a clear economic impact that extends far beyond individual shops—right into the health of local communities and the national manufacturing strategy.

    If you're just hearing about MEPs now, you're not alone—but you are at risk. This conversation lays out what’s at stake, why it matters, and what you can do right now to help save a resource that quietly powers tens of thousands of manufacturers nationwide.

    YouTube: https://youtu.be/WNjevmTNUu4

    VideoAsk: https://www.videoask.com/fiyvfkcdd
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    35 分