In this episode of The Business Development Podcast, Brad Warren returns to break down the no-nonsense approach every entrepreneur needs to run a profitable business. Known for his operational expertise and relentless focus on numbers, Brad shares why most business owners unknowingly sabotage themselves by failing to track key financial metrics. From pricing strategies to hiring decisions, he explains how understanding your revenue, costs, and labor efficiency can mean the difference between growth and bankruptcy. With his trademark directness, Brad emphasizes the importance of removing emotion from decision-making and letting the numbers guide every move.

Throughout the conversation, Brad and Kelly dive into real-world business challenges, including why so many companies struggle with pricing, how to track profitability effectively, and when to make tough staffing decisions. Brad also sheds light on the most common mistakes that lead small businesses into financial trouble and provides practical strategies to avoid them. Whether you’re an established entrepreneur or just starting out, this episode delivers actionable insights to help you stop guessing and start winning in business.

Key Takeaways:

1. The market determines pricing, not the business owner, and staying competitive is essential for success.

2. Tracking revenue, costs, and profit margins is crucial—businesses that don’t are operating blindly.

3. Reviewing profit & loss statements monthly and comparing year-over-year data helps spot trends and make informed decisions.

4. Hiring should be slow and deliberate, but underperforming employees should be let go quickly to protect the business.

5. Removing emotion from decisions allows business owners to focus on data-driven strategies rather than gut feelings.

6. Operational excellence comes from strict discipline in processes, not just having a great product or service.

7. Raising prices is necessary to keep up with rising costs and inflation—failure to do so leads to shrinking margins.

8. Employees thrive under different management styles, and strong leaders recognize and adapt to their needs.

9. A business must always come first, as its survival ensures the livelihood of employees and the entrepreneur.

10. Avoiding financial problems doesn’t make them disappear—facing them head-on is the only way to stay in control.

Links referenced in this episode:

• Our Invisible Empire
• Capital Business Development
• Business Development Mastery Program

Companies mentioned in this episode:

• Boulevard Auto Glass
• White Raven Accounting
• Econo Basements
• Econo Roofing
• Spacious Basement Builders
• Capital Business Development
• Calgary Bike Swap
• Planet Builders
• Rusted Nuts Mechanical