Built to Last
Candid conversations with entrepreneurs on life and business.
Join us as we uncover the habits, mindsets, and strategies that help organizations and people thrive for the long haul.
Built to Last
Financial Expert: What Healthy Businesses Do Differently | Greg Crabtree
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Greg Crabtree has spent decades studying the financial performance of privately held businesses and helping entrepreneurs understand the handful of numbers that really matter. In this episode, Greg joins Levi and Colby to unpack profitability, labour efficiency, return on invested capital, cash, and why revenue alone can give business owners the wrong picture.
They also dig into what Greg is seeing across hundreds of businesses right now, from AI and changing labour markets to why operational excellence may matter more in the next few years than it has in decades.
Greg also turns the conversation back on Levi and Colby, offering some practical perspective on Iron House Pro’s positioning and their new bookkeeping service.
Connect with Greg: https://www.linkedin.com/in/greg-crabtree-simple-numbers/
Connect with Levi: https://www.linkedin.com/in/levilawrence/
Connect with Colby: https://www.linkedin.com/in/colby-jardine/
Books Mentioned
- Simple Numbers, Straight Talk, Big Profits — Greg Crabtree
- Simple Numbers 2.0 — Greg Crabtree
Time stamps:
00:00 – Introduction
• Levi and Colby welcome Greg.
02:05 – Meet Greg Crabtree
• Greg shares his background and approach to business.
07:33 – Billing by the Hour
• Why Greg moved to fixed-price services.
12:09 – What Makes a Good Business?
• The numbers Greg believes actually matter.
19:37 – Numbers That Change Behaviour
• Using financial data to drive better decisions.
33:00 – Return on Invested Capital
• The overlooked metric Greg believes owners should know.
43:44 – Making the Numbers Simple
• Helping business owners understand complex financials.
46:41 – Four Numbers to Know
• Greg shares four key business metrics.
52:22 – What the Data Shows
• Patterns Greg sees across hundreds of businesses.
56:23 – Building a Business That Lasts
• Greg discusses succession, purpose and retirement.
1:07:08 – Iron House Pro’s Approach
• Levi and Colby share how IHP has evolved.
1:09:25 – Three Rules for Business
• Greg breaks his business strategy down to three things.
1:16:09 – What’s Coming for Business
• AI, labour and demographic change.
1:19:00 – Bring Back Scrappy
• Why businesses need more discipline around investment.
1:26:31 – Separating From the Pack
• Why operational excellence matters more than ever.
1:29:19 – Why Profit Still Matters
• Greg explains why every organization needs profit.
1:35:24 – Advice for Bookkeeping
• Greg shares advice for IHP’s new bookkeeping service.
1:38:44 – Final Thoughts
• Greg leaves listeners with a few things to chew on.
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