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Profit Answer Man: Scaling with Profit First & Beyond

Profit Answer Man: Scaling with Profit First & Beyond

Di: Rocky Lalvani
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 Hi, I'm the Profit Answer Man! The Profit Answer Man podcast is a weekly show hosted by Rocky Lalvani, a business coach and Certified Profit First Professional. In each episode, Rocky shares his expertise on how to scale profit and cash flow for 7-8 figure businesses. Episode 1 is the why, 2 - is Mike Michalowicz, and 3-13 are Rocky's take on each chapter in the book. The Profit Answer Man podcast is designed for small business owners, entrepreneurs, and anyone else looking to improve their financial management skills. Rocky covers a wide range of topics, including how to prioritize profit, manage cash flow, and grow your business. One of the things that sets the Profit Answer Man podcast apart is Rocky's engaging and entertaining style. He uses anecdotes, humor, and relatable examples to make the concepts he's discussing easy to understand and apply. If you're a small business owner looking for practical advice on how to improve your financial management and increase profitability, the Profit Answer Man podcast is definitely worth a listen. Whether you're just starting out or have been in business for a while, you'll find plenty of valuable insights and tips that can help you take your business to the next level. Sign up to be notified when the next cohort of the Profit First Experience Course is available! http://bit.do/profitblueprint More about making profitability simple: http://profitcomesfirst.com/ Profit Answer Man Facebook group: https://www.facebook.com/groups/496018144624882/ My podcast about living a richer more meaningful life: http://richersoul.com/ Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.2022 Economia Gestione e leadership Leadership
Episodi
  • Ep 304 From Bankruptcy at 24 to $35M: Building Profitable Business Through Discipline and Purpose with Mike Chaput

    Ep 304 From Bankruptcy at 24 to $35M: Building Profitable Business Through Discipline and Purpose with Mike Chaput
    Jan 20 2026
    Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com From Bankruptcy at 24 to $35M: Building Profitable Business Through Discipline and Purpose with Mike Chaput What if the worst business failure of your life became the foundation for 26 years of unbroken profitability? At 24, Michael Chaput bought a business that went bankrupt. At 50, he runs a $35 million company that hasn't had a single unprofitable month in 26 years—not through 2008, not through COVID, not ever. In this episode, Michael shares the hard-won lessons from hitting rock bottom and how financial discipline, tough decisions, and the right philosophy about profit built a business that never bleeds red. In this episode, you will learn: Why "caring too much" kills deals: How poor due diligence and bad leases destroyed Michael's first business and the bankruptcy lessons that changed everything. The 17% margin discipline: How Michael uses peer benchmarking to spot expense ratio problems (like rent at 20% vs. industry standard of 3-6%) and maintains profitability every single month. Why keeping poor performers is cruel: The science of play vs. economic pressure and why letting underperformers go is the kindest thing you can do for them and your team. Profit as constraint, not purpose: Michael's philosophy that profit is like staying in bounds in basketball—necessary, but not the point of the game. How operating systems create alignment: Using Rockefeller Habits and EOS to turn vision into action and inspire "play" instead of toil. The 1,000-book advantage: Why reading one business book per week for 20 years built the foundation for every major decision. Key Takeaway: Profitability isn't luck—it's discipline and hard decisions made quickly. Michael Chaput's 26-year track record without a single red month proves that success comes from three non-negotiables: (1) knowing your numbers cold (benchmark expense ratios, target specific margins like his 17%), (2) making tough calls fast (letting poor performers go is kindness, not cruelty), and (3) treating profit as a constraint, not your purpose. Bad deals have long tails, so care enough to walk away. Build a clear vision that inspires "play" instead of just paychecks. And never stop learning—Michael read 1,000+ business books over 20 years. That's how you build a business that never bleeds red, no matter what the economy throws at you. Bio: Mike Chaput bought his first company at 24 with borrowed money and no experience, a move that led to early failure and bankruptcy, but also ignited a lifelong drive to understand what makes businesses succeed. He took those hard-won lessons and built a new company from the ground up, scaling it to $35M in revenue with 140 employees, best-in-class margins, and a values-driven culture. With degrees from Columbia Business School and UC Berkeley's Haas School of Business, Mike blends top-tier strategy with real-world execution. As a founder and the CEO of Endsight, as well as a board member and trusted advisor to multiple high-growth companies, Mike brings a grounded, operator's perspective to leadership, sustainable growth, and building resilient teams with purpose. Links: Website: https://www.endsight.net/ LinkedIn: https://www.linkedin.com/in/michaelchaput/ Instagram: https://www.instagram.com/thechaputperspective/ YouTube: https://www.youtube.com/@thechaputperspective Conclusion: Michael Chaput's journey from bankruptcy at 24 to building a $35 million company with 26 years of unbroken profitability isn't just inspiring—it's a masterclass in what separates businesses that thrive from those that merely survive. The lessons are clear: financial discipline beats hope, tough decisions beat comfort, and a uniting vision beats just working for a paycheck. If you've been struggling with profitability, tolerating poor performers, or feeling like you're constantly firefighting, this episode gives you the blueprint to break free. Start by knowing your numbers, set your margin target, benchmark against your peers, and have the courage to make the hard calls. Remember: profit is necessary, but purpose is what makes the game worth playing. #ProfitAnswerMan #Profitability #BusinessGrowth #Entrepreneurship #SmallBusiness Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book: : https://lp.profitcomesfirst.com/landing-page-page Monthly Newsletter signup: https://lp.profitcomesfirst.com/newsletter-signup Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Music provided by Junan from Junan Podcast Any financial advice is for educational purposes ...
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    49 min
  • Ep 303 How to Legally Pay Less Tax as a Business Owner with Former IRS Agent Carlotta Thompson

    Ep 303 How to Legally Pay Less Tax as a Business Owner with Former IRS Agent Carlotta Thompson
    Jan 13 2026
    How to Legally Pay Less Tax as a Business Owner with Former IRS Agent Carlotta Thompson With Former IRS Agent Carlotta Thompson Most business owners believe high taxes are just the price of success. They're wrong. In this episode of Profit Answer Man, Rocky sits down with former IRS agent turned tax strategist Carlotta Thompson to reveal how the tax system really works, what actually triggers audits, and how profitable business owners legally keep more of what they earn. This is not about loopholes or risky moves. It's about understanding the rules well enough to play the game correctly. In This Episode, You'll Learn: What actually triggers IRS audits and why most business owners worry about the wrong things.The common tax and bookkeeping mistakes that quietly raise red flags with the IRS.Why home office and mileage deductions are usually not the real problem.How poor recordkeeping costs business owners money even when deductions are legitimate.Why constantly moving money between Profit First accounts is a warning sign, not a solution.When an S Corp makes sense and when it can actually cost you more in taxes.Why starting as an LLC gives you more flexibility as your business grows.How to shift from asking "Can I deduct this?" to "How can I deduct this legally?" The Big Takeaway: Paying less tax is not about gaming the system. It's about: Knowing what the IRS actually looks forBuilding clean, consistent financial systemsAligning profit, tax strategy, and long-term vision When you do that, audits become less scary, profit becomes more predictable, and your business stops leaking money quietly. Bio: Carlotta Thompson is a Founder + CEO When Carlotta was 14, she remembers becoming enthralled with a booklet on preparing taxes. She decided then that she wanted to work for the IRS, so at 14 years old, she began studying tax law with the dream of working for the Internal Revenue Service (IRS). Shortly after attaining her dream of working for the IRS, Carlotta realized that the IRS isn't actually in place to help small businesses like she'd thought and it felt like she was working for the wrong side. As an auditor, she saw tons of tax returns with sometimes hundreds of thousands of dollars of missed deductions that were detrimental for the client. Carlotta had a bigger dream and mission to directly help business owners pay the least tax legally possible, so what began as a ministry has evolved into Tax Strategists of America! She now has a Pathway to Zero™ program helping business owners pay the least taxes legally possible! Links: Website: https://taxstrategistsofamerica.com/ Facebook: https://www.facebook.com/carlotta.thompson.1 Instagram: https://www.instagram.com/carlottathompsonfinance?utm_source=ig_web_button_share_sheet&igsh=ZDNlZDc0MzIxNw%3D%3D TikTok: https://www.tiktok.com/@carlottathompsonfinance?is_from_webapp=1&sender_device=pc YouTube: https://www.youtube.com/@carlottathompsonfinance Conclusion: Paying less tax is not about shortcuts or loopholes. It's about clarity, structure, and intention. When you understand what the IRS actually looks for, keep clean records, and align your entity and profit strategy with your long-term goals, taxes stop feeling like a constant threat. This episode with Carlotta shows that real tax savings come from running a better business, not from taking bigger risks. #ProfitAnswerMan #ProfitFirst #BusinessProfit #TaxStrategy #CashFlow #SmallBusinessFinance #BusinessOwners #IRS #TaxPlanning #FinancialClarity #EntrepreneurLife #KeepMoreProfit #BusinessSystems #MoneyMindset Find Rocky Lalvani @ www.ProfitComesFirst.com or email him at rocky@profitcomesfirst.com Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book: : https://lp.profitcomesfirst.com/landing-page-page Monthly Newsletter signup: https://lp.profitcomesfirst.com/newsletter-signup Relay Bank (affiliate link): https://relayfi.com/?referralcode=profitcomesfirst Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
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    50 min
  • Ep 302 The Financial Model Every 7–8 Figure Business Needs for Predictable Profit with Salvatore Tirabassi

    Ep 302 The Financial Model Every 7–8 Figure Business Needs for Predictable Profit with Salvatore Tirabassi
    Jan 6 2026
    The Financial Model Every 7–8 Figure Business Needs for Predictable Profit with Salvatore Tirabassi Most business owners don't lack data. They lack clarity. They have a P&L, a balance sheet, maybe even a dashboard. But when a real decision shows up—Can I afford this hire? Should I scale marketing? Why did margins drop again?—the numbers don't give a clear answer. That's where growth starts to feel chaotic. In this episode of Profit Answer Man, Rocky Lalvani sits down with fractional CFO and former private equity investor Salvatore Tirabassi to unpack what separates "clean books" from a finance function that actually drives predictable profit. The core insight is simple but uncomfortable: bookkeeping is not finance. And confusing the two is one of the biggest reasons growing businesses stall, leak cash, or scale problems instead of profit. In This Episode, You'll Learn: Why clean books and tax-ready reports are not the same as decision-ready financialsHow a single, integrated financial model replaces disconnected spreadsheets and gut decisionsWhat driver-based forecasting looks like and why it creates predictable profit at scaleHow funnel math, capacity planning, and cash flow must work together to support growthWhy tracking customer acquisition cost by channel matters more than obsessing over lifetime valueHow private-equity thinking exposes hidden profit leaks in people, process, and culture Key Takeaway: If your financial reports are technically accurate but not helping you decide what to do next, the problem isn't effort—it's the model. Upgrade from bookkeeping to real finance, and your numbers will finally start working for you instead of against you. Bio: As a seasoned finance professional with over 24 years of experience, his journey began with a passion for helping businesses thrive. After earning his degrees from Harvard and Wharton, he spent 15 years in venture capital, where he learned the ins and outs of what makes businesses successful. This experience provided him with a deep understanding of the challenges entrepreneurs face, especially in emerging and family-owned businesses. Transitioning to the role of CFO in a high-growth company, he discovered his true calling: empowering business owners to take control of their financial futures. He founded CFO Pro + Analytics to provide virtual and fractional CFO services that demystify finance and make it accessible to all. His approach is built on a business owner-first mindset, where he prioritizes the unique needs of each client, helping them see their financial data not just as numbers, but as powerful tools for growth. Throughout his career, He developed a methodology that combines strategic financial modeling with actionable insights. His goal is to simplify complex financial concepts so that entrepreneurs can make informed decisions confidently. Whether it's guiding them through capital raising or enhancing their operational efficiency, he strives to provide clarity and direction that drives real results. He believes that every business has the potential to reach new heights with the right financial strategy. Links: Website: https://cfoproanalytics.com/ Facebook: https://www.facebook.com/SalvatoreTirabassi LinkedIn: https://www.linkedin.com/in/stirabassi Instagram: https://www.instagram.com/salvatoretirabassi/ Substack: https://salvatoretirabassi.substack.com/ Conclusion: Chaotic growth is rarely a revenue problem. It's a clarity problem. As this conversation with Salvatore Tirabassi makes clear, most businesses don't struggle because they lack effort or ambition. They struggle because their numbers are built for compliance, not for decisions. When financial reports are shaped by tax rules instead of business drivers, owners are left guessing, reacting, and hoping growth will eventually smooth things out. Predictable profit comes from upgrading how you think about finance. One integrated model. One source of truth. Clear drivers that connect marketing, sales, capacity, and cash. When those pieces line up, the noise disappears. Decisions get easier. Teams align. And growth becomes intentional instead of exhausting. Whether you plan to sell or simply want a calmer, more profitable business, running your company with CFO-level discipline gives you options. And options are what real freedom looks like. #ProfitAnswerMan #BusinessFinance #FinancialClarity #CashFlowManagement #Profitability #FractionalCFO #FinancialModeling #DriverBasedForecasting #PredictableProfit #MarginManagement #BusinessGrowth #ScalingBusiness #RevenueDrivers #CEOInsights #7FigureBusiness Watch the full episode on YouTube: https://www.youtube.com/@profitanswerman Sign up to be notified when the next cohort of the Profit First Experience Course is available! Free Copy of the Profit Blueprint Book: https://lp.profitcomesfirst.com/landing-page-page Monthly Newsletter signup: https://lp.profitcomesfirst.com/...
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    43 min
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