Your Home Business - Episode 1

Introduction

In this first episode of 'Your Home Business' the host, David Lykken, shares his purpose (his 'WHY') for creating and producing this program. He shares some of his personal background and how his own journey as an entrepreneur started. It starts with a dream! What is YOUR dream? Start your journey by following and listening to this inspiring, equipping and encouraging program.

Your Home Business - Episode 2

Desires & Dreams

Desires and dreams are the keys to your purpose and destiny, yet most people stop dreaming at a young age. Get inspired with David Lykken and Larry Morrison to re-fire your dreams and live the life you were designed to live.

Your Home Business - Episode 3

What is Your WHY?

Making money, alone, probably isn't a sufficient reason to get you through the tough times all businesses are bound to encounter somewhere along the way. You need a bigger vision... your "why."

Your Home Business - Episode 4

What is Your Working Genius?

Learning where both you and others you may work with have genius, competency, and frustration is key in knowing how to best utilize the assets individuals bring into a work environment. Working in your area of genius and doing the most to avoid the frustrations will go far in adding joy to every work day. Join David and Larry, as they explore The 6 Types of Working Genius from Patrick Lencioni's book of the same title.

Your Home Business - Episode 5

Your Business plan, Your Laser focus

Visiting the seven points of writing a business plan will keep you on track for success. Even a one-person business can benefit from planning the various aspects of a business before they start, and potentially save time, trouble, and expense.

Your Home Business - Episode 6

Passion vs. Practicality

In this episode, we delve into the debate of whether passion or practicality should drive entrepreneurial ventures, challenging the common advice to "pursue your passion." We emphasize the need to balance personal interests with market demands and competencies, sharing a story of a woman who funded her dream of starting a no-kill animal shelter by first pursuing a profitable business. The discussion highlights that businesses focused on serving others tend to succeed more than those driven solely by personal dreams. We stress the importance of understanding one's natural design and strengths, suggesting that aligning business ventures with these can lead to greater fulfillment and success. The episode also recommends resources like MJ DeMarco's books, which discuss finding purpose in business and adding value to the marketplace. Ultimately, we encourage our viewers to find joy and energy in their work, serve others, and share their stories to inspire and motivate others, offering a balanced perspective on the importance of practical considerations in entrepreneurship while not losing sight of passion and personal fulfillment.

Your Home Business - Episode 7

Building Your Financial Model

In this episode, we dove into the critical topic of building a robust financial model. Joined by financial modeling expert Howard Nathan, the discussion unpacks the importance of financial planning, drawing parallels to blueprints for a house or flight plans for aviation. You'll learn how to set realistic assumptions, project sales, manage costs, and ensure you have the capital needed for success. Whether you're just starting or looking to scale, this episode offers invaluable advice on navigating the financial landscape of your business. Tune in and discover how a well-crafted financial model can be the cornerstone of your entrepreneurial journey.

Your Home Business - Episode 8

Keeping Score With Accounting

In this episode, hosts David Lykken and Larry Morrison dive into one of the most crucial yet often overlooked aspects of running a business: Accounting. Whether you're a small business owner or aspiring entrepreneur, understanding the difference between financial forecasting and accounting is essential. Together, we'll explore why setting up a solid accounting system is vital for tracking your profits, managing expenses, and ensuring the financial health of your business. From cash vs. accrual accounting to the importance of daily bookkeeping, we'll cover practical tips to help you avoid costly mistakes. Get ready to learn how to build a strong financial foundation for your business!

Your Home Business - Episode 9

5 Key Elements
for a Successful Start Up

In this episode of Your Home Business, host David Lykken and co-host Larry Morrison dive into five often-overlooked but essential aspects of starting a business, inspired by MJ DeMarco's book, The Millionaire Fastlane. From the importance of maintaining control over critical business areas to navigating entry barriers, they explore how these factors can make or break a venture. They discuss why entrepreneurs should solve genuine market needs, manage time effectively, and consider scaling thoughtfully based on their business model. This conversation is packed with insights and practical advice for anyone looking to start or grow a successful business.