Episode Details

A med spa owner asked when she should hire help. David's answer: six months ago. That's the energy of this entire episode, real business owners asking the hard questions, and David and Stan answering from experience, not theory. In Episode 22 of Built By Doing, David and Stan field questions from business owners across different industries; from pricing and profit margins to hiring, outsourcing, employee retention, and how long it really takes before a business makes money. Inside this episode: - Why David Alan Clothing has never run a single discount or promotion — and never will - The furniture store trap: how training customers to wait for sales kills your business - How to A/B test pricing without tanking your brand - The reverse-engineering method for setting profit margins (start from how much you want to make) - Why "six months ago" is always the right answer for when to hire - The exit interview strategy that stops you from losing your next good employee - Why David would pay for a mobile detailer to service his clients’ cars during fittings - The 5-year rule: if you haven't grown by year 5, something fundamental needs to change - Why it takes 90–120 days just for marketing to start showing results - How much money to have saved before you start — and why starting on the side is always the right move This is the second Q&A episode of Built By Doing. If you’re a business owner, aspiring entrepreneur, or thinking about starting something, these are the questions you’d ask if you had two entrepreneurs and a CPA in the room. Subscribe for weekly conversations on entrepreneurship, small business strategy, hiring, pricing, and building companies the right way. If you have a business question that you’d like us to answer on a future episode, send us a message on www.builtbydoingpodcast.com, or leave us a comment!