Beginning Balance

Sep 26 2024 111 ep. 31 mins 145

Beginning Balance Podcast artwork

Jesse Mecham and Mark Butler teach you how to manage your business cash flow, hone your business model, and not freak out about money.

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From Barista to Billionaire (Mo' Money, Same Problems)

Sep 26 2024 38 mins

Mark and Jesse discuss their most recent read, Never Enough: From Barista to Billionaire by Andrew Wilkinson, a one-time barista and co-founder of Tiny, a holding company that buys and holds businesses for the long-term (like Berkshire Hathaway). At the age of 36, Wilkinson found himself owner of a company worth over a billion dollars, and in a new stratosphere of wealth he had ne

Gardening, Compost, and Business Complexity

Sep 12 2024 32 mins

Good gardens require good soil, and good soil takes compost and plenty of time. Jesse shares his experiences composting soil for his garden, and how it applies to business. Like compost, good business ideas take time to execute. They can be executed more quickly, but that often involves more complexity. Mark and Jesse then pivot to discuss complexity in business plans, and when it'

The Economics of Content, and the Case for Word of Mouth

Aug 29 2024 41 mins

The algorithm has come to rule media, and it is a voracious beast. It consumes as much content as people can create, as often as they can create. The ones who rise to the top seem to be those who create the most content, on as many platforms as possible, but what do the economics of this look like? Mark asks the question whether playing the content game is worth it for a business,

Escaping the Gravity Pull of Phones

Aug 15 2024 25 mins

Jesse shares one of his recent experiments, inspired by a guest on the Art of Manliness podcast. The challenge was to delete the apps on your phone, especially the ones you feel a "pull" from -- a pull to open it and check it every time you see it (most social media apps would meet this criteria for most people). As Jesse explains, phones don't just suck up your time, they suck up

Taking a Hard Look in the Reality Mirror

Aug 01 2024 27 mins

On previous epsidoes, Mark and Jesse have discussed the importance of scarcity, and how limitations drive creativity. Mark even goes so far as to argue creativity can't exist without limitations! YNAB, then, is a tool for viewing reality through the lens of money -- a reality mirror if you like. By understanding the tradeoffs you are making with your money, you can see the truth of

Lessons from YNAB's Price Increase

Jul 18 2024 42 mins

Mark and Jesse discuss YNAB's recent price increase, and the psychology of customers around pricing. You can't make everyone happy, whether you justify the price increase by citing your own increased costs or by plainly stating your price increase without explanation or caveat. Jesse points out that some customers that have complained about the price increase have moved to competin

Cheap Business Advice

Jul 07 2024 31 mins

Mark and Jesse reminisce about the early days of YNAB, and a conversation over lunch in which Mark gave Jesse (what he thought was) sage advice -- to raise prices. Genius right? Jesse recounts how they raised prices in the earliest incarnations of YNAB's product, from spreadsheets to software to software-as-a-service. He also candidly breaks down a price increase that was poorly co

ChatGPT and Learning to Let Go of Control

Jun 20 2024 38 mins

After a conversation about using ChatGPT to organize the weekly recipe calendar for the Mecham household, Mark and Jesse talk about the concept of letting go of control in a business. Mark posits an idea: you can have control or you can have growth, but not both. And Mark hates it! Jesse draws a distinction between control of the business -- that is, controlling the mission of the

The Hero's Journey of Customer Service

Jun 06 2024 52 mins

Mark and Jesse discuss the role of customer service in a business, and how the alignment of customer expecations with the business owner's strengths (or working genius, if you like) is crucial to customer satisfaction and avoiding burnout. Mark shares an example from his virtual CFO business, which was highly profitable but making him miserable as his promise of what he would deliv

What Is Your Working Genius? How to Avoid Frustration and Do the Work You Love

May 23 2024 55 mins

Mark and Jesse discuss Patrick Lencioni's The 6 Types of Working Genius, a book exploring various personality types and the kinds of work most suitable to each. It's more than a personality test however! Lencioni's model assesses people according to their genius, competency, and frustrations in six areas: Wonder: The natural gift of pondering the possibility of greater potential