Buy the Numbers

By: Mike Payne
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  • Summary

  • A deep dive into the financials of running a Manufacturing business.
    2024
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Economics Management Management & Leadership
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Episodes
  • Personal Guarantees & Loan Covenants: How to Not Get Burned, Ep #17

    Personal Guarantees & Loan Covenants: How to Not Get Burned, Ep #17
    May 1 2025
    Most of us would never machine a part without checking the tolerances first — so why do so many shop owners sign off on financing agreements without understanding the performance “tolerances” our banks are quietly measuring us against? In this episode of Buy the Numbers, commercial banker Danny O’Keefe returns to break down two terms that sound like dry legal jargon but carry real operational consequences: loan covenants and personal guarantees. If your shop relies on bank financing to grow, these aren't just details — they’re the guardrails shaping what we can do, and what could get us in trouble. Loan covenants aren’t just something we sign and forget. They’re the metrics banks use to judge whether our business is still a safe bet. From debt service coverage to balance sheet leverage and owner distributions, these numbers can quietly restrict how we grow, how we pay ourselves, and how much flexibility we have in tough times. If we’re not checking them ourselves when we close the books, we could be tripping violations without even knowing — and that’s a problem our lender won’t ignore. Then there’s the personal guarantee — something a lot of us sign with a shrug, not realizing what it really means. We dig into how it works, when it’s enforced, and why it's not usually about losing your house — it’s about staying accountable and engaged if the business hits rough waters. With real-world examples, Danny explains how guarantees play out in practice, how banks try to resolve issues, and why going dark is the worst move you can make. The biggest surprise for many: almost everything about your loan is negotiable — including the covenants and guarantees. But only if you understand your balance sheet, your bank’s priorities, and how to advocate for yourself. Whether you’re taking out your first note or renegotiating a renewal, this episode gives you the tools to treat your financing like a partnership, not a one-and-done transaction. By the end, you’ll walk away with a clearer view of your bank relationship — not just as a source of capital, but as a strategic tool. One that, when managed well, can protect you and your shop… and when ignored, can quietly start to chip away at your freedom to operate. You will want to hear this episode if you are interested in... (0:00) What personal guarantees really mean—and why banks don’t want your keys(0:29) Achieve on-time delivery with ProShop ERP(1:58) Guest reintroduction: Danny’s background in commercial lending for shops(4:48) Defining the "big scary words": Loan covenants and personal guarantees(8:12) How banks evaluate owner distributions and when limits apply(9:50) Balance sheet leverage: Why your assets vs. liabilities matter(12:53) UCC filings: What they are and why they get overlooked(14:37) Proactive vs. reactive reporting: How to stay on your bank’s good side(23:44) Types of personal guarantees and what really triggers enforcement(26:46) Learn how to grow your top and bottom-line with CLA(30:24) What happens in worst-case scenarios—and how communication can save you(34:14) How outside consultants and investors can step in when banks get nervous(40:57) What a strong balance sheet might mean for guarantees(46:43) Negotiating your covenants: Why the whole loan is a conversation(52:54) The most important things to pay attention to at closing(56:35) Why you need to listen to the MakingSparks podcast Resources & People Mentioned Achieve on-time delivery with ProShop ERPBanking Secrets for Manufacturers: How to Secure the Cash You Need, Ep #12 Connect with Dan O’Keefe Busey BankConnect on LinkedIn Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    57 mins
  • Navigating the New Tariff Terrain: What Manufacturers Need to Know Now, Ep #16

    Navigating the New Tariff Terrain: What Manufacturers Need to Know Now, Ep #16
    Apr 24 2025
    Tariffs aren’t just a line item buried in your supply chain—they’re a fast-moving, often misunderstood force that could have a massive impact on your profitability, pricing, and even your global strategy. In this eye-opening episode of Buy the Numbers, Jennifer Clement and Leslie Boyd from CLA join me for a masterclass in tariff mitigation strategies. As volatility re-emerges on the global trade front, Jennifer and Leslie offer clarity, practical steps, and a proactive roadmap that manufacturers of all sizes can follow. Jennifer and Leslie break down the reality that waiting for the rules to settle is no longer a viable plan. Instead, they introduce a three-bucket framework that helps businesses act now, in six months, and long-term—everything from basic “tariff hygiene” and invoice scrubbing to more advanced strategies like tariff engineering, duty drawback, and setting up foreign trade zones. The conversation also dives into how manufacturers can hold their vendors accountable, optimize their pricing inputs, and think creatively about global operations in a world where tariffs can change mid-shipment. Whether you’re sourcing machines from overseas or fielding questions from customers about cost projections, this episode equips you to speak the language of tariffs fluently—and use that fluency to your financial advantage. Rounding out the discussion is a preview of CLA’s upcoming webinar series, a free, multi-part educational deep dive for manufacturers who want to master cost control in a tariff-heavy environment. This isn’t just about playing defense—it’s about making moves that could shield your margins, even amid economic uncertainty. You will want to hear this episode if you are interested in... (0:00) Understanding why tariffs are urgent now and how they impact manufacturers(0:14) Learning how CLA helps manufacturers grow their top and bottom line(1:35) Getting to know Leslie Boyd and Jennifer Clemente from CLA(4:38) Discovering why a proactive strategy is essential despite tariff volatility(6:13) Clarifying common misconceptions about tariffs and pricing strategies(10:17) Exploring Bucket #1: “Good tariff hygiene” and how invoice scrubbing can save you(17:30) Learning additional compliance strategies like transfer pricing and duty drawback(18:38) Hearing about the Lights Out podcast and automation trends in manufacturing(20:21) Understanding how currency hedging can protect against cost fluctuations(22:16) Breaking down the first sale rule and how it reduces tariff costs(24:55) Exploring Bucket #2: Using bonded warehouses and free trade zones to defer tariffs(28:19) Learning how tariff engineering can reduce exposure by rethinking product design(30:44) Exploring Bucket #3: Re-imagining supply chains and reshoring for long-term gains(33:51) Understanding the process and odds of getting tariff relief through exclusions(36:10) Getting an overview of CLA’s upcoming webinar series on tariff mitigation strategies(40:24) Completing the Top Shops survey to benchmark your shop against the industry Resources & People Mentioned CLA Tackling Tariffs webinar seriesTackling Tariffs (Deck to accompany episode)Complete the Top Shops survey and let the numbers tell the story Connect with Jennifer Clement and Leslie Boyd CliftonLarsonAllen (CLA)Connect with Jennifer on LinkedInConnect with Leslie on LinkedIn Connect With Buy the Numbers Follow on LinkedInConnect with Mike Payne on LinkedIn Subscribe to Buy the Numbers on Apple + Spotify Audio Production and Show Notes by - PODCAST FAST TRACK
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    41 mins
  • The Quiet Cut That's Loudly Threatening Small Manufacturing

    The Quiet Cut That's Loudly Threatening Small Manufacturing
    Apr 19 2025

    Most small manufacturers don’t realize they’re being quietly supported by one of the most impactful public-private partnerships in the country. The Manufacturing Extension Partnership (MEP) has long been the hidden backbone behind training programs, grant facilitation, process improvements, and critical tech upgrades for shops across the U.S. But recent Federal decisions to defund these programs—without clear communication or reasoning—have sparked confusion and alarm among industry insiders.

    In this episode, a passionate roundtable of manufacturers and advocates reveals just how deeply the MEPs have shaped their businesses, supported workforce development, and opened doors to opportunity they couldn’t have accessed alone. From AR-integrated quoting tools to automation investment guidance, these stories show a clear economic impact that extends far beyond individual shops—right into the health of local communities and the national manufacturing strategy.

    If you're just hearing about MEPs now, you're not alone—but you are at risk. This conversation lays out what’s at stake, why it matters, and what you can do right now to help save a resource that quietly powers tens of thousands of manufacturers nationwide.

    YouTube: https://youtu.be/WNjevmTNUu4

    VideoAsk: https://www.videoask.com/fiyvfkcdd
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    35 mins
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