Business of Machining - Episode 80

The Johns share heartwarming entrepreneurial moments that hit them RIGHT IN THE FEELS. Square One No matter your experience level, the learning should never stop. Each new aspect of business sends you back to the green. If your brain is exploding, you're doing it right! A Testament To Self-Care Grimsmo and Saunders know the drill (pun intended) when it comes to "taking time off." Usually it's for business related events but if you're listening now, Grimsmo has left the building! He's on an adventure--but he may or may not leave the laptop in the FRUNK. The Mori. The Haas. Bada Boom or Biiig Bada Boom? Nail on the Head Ryan Wenner's quote about the "2 most important skills for entrepreneurs" resonates with Saunders. ALSO: Changing your definition of the word "failure" can change your life! Business as Usual Implementation of a shared maintenance schedule is in progress at SMW, which brings up preventative maintenance (batteries in particular). HAAS ATM Groups--we were doing it wrong! That moment you realize you've over complicated tool life management--and LAUGH ANYWAY. HAAS Training Classes at SMW That old block of machining wax is FINALLY getting put to use AND, it benefits those who purchase a Haas without the Renishaw! FEED ME SEYMO--I mean, GRIMSMO! You don't have to be a fortuneteller to know that a BAR FEEDER is in the GK future! THRIVING vs. STAGNATING Growing too fast or not at all could end up in closed doors. While changing your definition of failure, it wouldn't hurt to get new perspective on PROFIT; it's more than just owner take-home. MONEY, MONEY, MONEY now that we have your attention.... Accounting is a dreaded subject for most but you owe it to yourself and business to understand it! Saunders discusses contribution margin and why it's a number he likes to focus on. Click below to learn some accounting basics! Accounting for Machinists and Entrepreneurs: Beginner's Guide AND...if you ARE going to borrow money, don't get "fleeced." If you have a grip on how loans work, take the quiz and watch "Should I Take Out a Loan?" just to be sure. You don't know what you don't know! ::::Under Pressure:::: TORN about IMTS: Grimsmo is pumped to find his dream machine while Saunders works to regain his curbed enthusiasm. BE STINGY with your time and DO NOT FEEL GUILTY if you have to turn vendors down.

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