ALWAYS HAVE PREDICTABLE PROFIT: IN YOUR MILWAUKEE SMALL BUSINESS

By Mike Wolf

"This Entrepreneur's Look Book is uniquely crafted, highly valued by our

company and long overdue! Congratulations to you all."

Clark Crosby, CEO, Cell Sync Scientific 

"These Predictable Profit formulas are all about clarity. These success&n

• Language: English
• Publisher: Books to Life Marketing
• Release date: Dec 8, 2023
• ISBN: 9798987386798

Mike Wolf

Mike Wolf opened and established the bar program at Husk in Nashville, Tennessee and spent the next five years developing a hyper-seasonal and dynamic style of cocktails and non-alcoholic drinks, utilizing on-site gardens, the bounty of Middle Tennessee and a home garden where he grew upwards of 30 different varieties of herbs and vegetables all for the purpose of making cocktails and elixirs. His drinks have been featured in Imbibe Magazine, Local Palette Magazine, the Tennessean, Foodable TV Network and more.

Book preview

A Revolutionary Way

to Run Your Small Business

Through the Lens of

TEN SUCCESSFUL

MILWAUKEE ENTREPREUERS

Mike Wolf

Copyright © Mike Wolf

Paperback: 979-8-9887938-0-9

eBook: 979-8-9873867-9-8

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any electronic or mechanical means, without the prior written permission of the publisher, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law.

Ordering Information:

Books to Life Marketing Ltd

70 Coulson’s Road, Bristol BS14 0NW, UK

Printed in the United States of America.

Dedicated to the twelve million broken and displaced Ukrainian families scattered throughout the world

who everyday put everything

on the line to have

the freedom to choose,

the freedom to thrive,

the freedom to be.

And to all the courageous small

business owners everywhere

who, at any moment, are

willing to give up everything

that brought them to the

present moment,

for what they might become

Contents

Forethought: Mike Wolf / Founder, Author

The National Business Education Council

Chapter 1:  Always Have A Predictable Profit

Retail - Mike Kramer

Chapter 2:  Keep Fixed Costs for Stability

Healthcare - Kajal Malkan

Chapter 3:  Semi-variable Costs for Flexiblity

Construction - Justin Johnson

Chapter 4:  Margin is Everything

Science and Technology - Nancy Crosby

Chapter 5:  Manage Your Cost of Goods Sold

Distribution - Euleeta White

Chapter 6:  Cost of Quality

Retail - Chris Severtson

Chapter 7:  Manage Your Business with A Scorecard

Distribution - Paul Gaertner

Chapter 8:  Create Silo Marketing

Business Services -

Tom TK Kingston

Chapter 9:  Build a House of Value

Manufacturing -

Edwin Puzia Jr.

Chapter 10:  Follow the Money Map

Business Management - Jamie Kolatzki

Chapter 11:  Wisconsin Tax Benefits for 2024

Kanketa Tax and Wealth Management -

Michael McDermott

Chapter 12:  Putting It All Together -

Mike Wolf

About the Author

85% of all small business owners in the US. fail within the first 60 months for one of three reasons:

   They are doing something they shouldn’t do

   They are not doing something they should do

   There is something they don’t know

Forethought

I am honored to be able to write these forwarding comments. This book acknowledges ten local business owner entrepreneurs, not only for their expertise in their field, but for their ability to rise above the crowd in an effort to always operate their businesses as high-performing companies.

Each year there is a commonly published statistic by the SBA showing small business failure rates. In over 30,000 small businesses with one to thirty employees within 100 square miles of your front door at this moment, over 85% of them will not be around in five years to enjoy the fruits of all of their hard work or the full benefits of owning a company. Some will fall very short of their financial goals. Others will bear a great deal of stress and bring hardship to themselves and to their families. Most will rely on some guess work, and poor advice from unqualified sources. A high-performing business owner covers four key areas of a business landscape.

Structural integrity demonstrates full legal compliance with all IRS, State and Federal laws. The result is good risk management practices that protect assets and owner retirement. Structural integrity will put the owner into the driver’s seat of financial freedom, working by choice, not from need.

Financial management is the smooth and efficient money management. Good financial practices ensures that all bills are paid on time. With a balanced budget good financial management will avoid unexpected market shifts that challenge businesses: unforeseen swings in social, technological, economic, environmental, political, legal, ethical, and demographic change in age education and income that interrupt business progress and profitability.

Operational efficiency is the shortest amount of time to design and develop a product or service and deliver it to a customer’s complete satisfaction. Operational efficiency is measured by product cost and vendor management, error-free production, velocity (speed and efficiency of delivery) and HR practices (employee engagement and retention).

Tax management obeys every tax law, yet allows a business to exercise every legal right and thus pay the least possible amount of tax. In nearly all cases every business overlooks and overpays unnecessarily because they do not fully research the law. Out of fear, and/or pure disinterest, they turn their books over to their accountants expecting that the accountants will do all the work. The truth is that accountants simply are not able nor equipped to do all the work.

Paying the least tax allowed by law requires several different skillsets beyond accounting, seeing different parts of a company through different lenses at different levels – all working in concert to fully accomplish the best possible outcome.

High performing business owners understand that they must stay in control of their business, treat it with the utmost respect and care and fully own it or someone else will. They understand that they are not their business, and they break through the barrier of having a job vs. owning a company that they can eventually sell, lease, gift or continue to operate for long term income.

The Toki Yoki LOOK BOOK

This is a Kanketa Toki Yoki (high speed learning) LOOK BOOK. No extraneous reading. Only basic visualized concepts with necessary words to put the points across, with more pics, for better, faster results.

To achieve an efficient and effective educational outcome, I am relying on concise images to tell stories.

The Goal of This Book is to condense 150 university classroom hours of high-level strategic finance used in global companies into 150 pages of easy to read, easy to understand practical money management concepts for every-day use. From over a hundred US. universities, I have selected four for a comparison to this information.

None teach or offer all of it. All teach some of it. When combining all financial and related courses of these institutions, we still come up significantly short of the education in these pages.

All Universities use GAAP (General Accepted Accounting Principles), a financial system of the US government that is proven to be ineffective for everyday decision-making in small business management.

It is our sincerest collective intention that in this book you will find all the financial information you will need to operate a safe, healthy, profitable high performing business for the rest of your professional career

DON’T BE DISAPPOINTED

BY THE RESULTS YOU NEVER