The How of Business - How to start, run, grow and exit a small business.

Planning improves your odds of success, but accepting risk, making decisions with incomplete information, and learning quickly from failure are what ultimately move a business forward.
Show Notes Page: https://www.thehowofbusiness.com/595-plan-to-succeed-prepare-to-fail/
Planning is essential to building a successful small business, but it doesn't eliminate risk or guarantee success. In this episode, Henry Lopez explains why business owners must plan to succeed while also being prepared to fail, and how accepting uncertainty is a prerequisite for growth.
Henry breaks down the role of planning in both startups and existing businesses, explaining how business plans, financial projections, and annual strategic plans help reduce - but never remove - risk. He also explores the emotional side of failure, including fear, embarrassment, and decision paralysis, and why waiting for certainty often leads to stagnation.
Drawing from personal experience and past episodes, Henry outlines a practical framework for balancing disciplined planning with courageous action:
1 - Plan deliberately
2 - Assess the downside
3 - Decide and commit
4 - Review and adjust
The goal is not to avoid mistakes entirely, but to build a business resilient enough to survive them.
If you're stuck overanalyzing, afraid of making the wrong move, or hesitating to launch or grow your business, this episode will help you reframe risk, overcome fear, and move forward with confidence.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

How to overcome Decision Paralysis - assessing risk, limiting over analysis, and taking action are essential to moving a business forward.
Show Notes Page: https://www.thehowofbusiness.com/r423-overcoming-decision-paralysis/
Decision paralysis keeps entrepreneurs stuck, and learning how to assess risk, limit over analysis, and take action is essential to moving a business forward.
Decision paralysis, often called analysis paralysis, can quietly stall a small business or prevent an entrepreneur from ever getting started. In this episode, Henry Lopez and guest co-host David Begin unpack why decision paralysis happens, how it shows up differently in big strategic decisions versus daily operational choices, and why small business owners are especially vulnerable to it.
Drawing from real-world experience, Henry and David explain how fear, risk miscalculation, perfectionism, and decision fatigue all contribute to inaction. They explore the difference between intuition and expertise, referencing Malcolm Gladwell's book Blink, and discuss why relying solely on "gut instinct" can be dangerous for new entrepreneurs but powerful for experienced operators.
The conversation also covers practical strategies to break through paralysis, including risk mitigation, breaking big decisions into smaller ones, setting go/no-go dates, and using a "pretend decision" technique to reduce pressure and clarify direction. They emphasize the importance of self-awareness, leadership responsibility, and building teams that can make decisions independently.
As Henry puts it, "There are no guarantees in business, but there is a cost to not deciding."
This episode is a must-listen for anyone feeling stuck, overwhelmed, or hesitant to make the next move in their business.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

What At-Will Employment really means for small business owners.
Show Notes Page: https://www.thehowofbusiness.com/594-claudia-stjohn-at-will-employment/
At-will employment gives small business owners flexibility, but misunderstandings around documentation, retaliation, and protected classes can quickly turn a termination into a lawsuit.
Most small business owners believe "at-will employment" means they can fire an employee at any time for any reason, but that misunderstanding is one of the fastest paths to an expensive legal dispute.
In this episode, Henry Lopez is joined by returning guest Claudia St. John, founder and CEO of The Workplace Advisors, to break down what at-will employment really means under U.S. law. They explain why at-will employment is not a free pass to terminate employees without consequences, and how common mistakes (like poor documentation, vague termination explanations, and retaliation) create legal risk even when the employer's decision was justified.
Claudia shares real-world examples from her HR consulting practice, emphasizing why documentation of performance issues is critical, how progressive discipline policies can accidentally undermine at-will status, and why honesty during termination conversations actually reduces lawsuits. As Claudia notes, "If an employee is surprised, they're far more likely to sue."
Henry and Claudia also discuss employee handbooks, offer letters, EPLI insurance, and when small businesses should consider professional HR support.
This episode is a must-listen for any business owner who manages employees and wants to reduce risk while still leading with fairness and professionalism.
Claudia St. John is a keynote speaker, bestselling author, and founder and CEO of The Workplace Advisors, a national HR consulting firm that helps small and mid-sized businesses navigate compliance, hiring, and employee management with practical, evidence-based guidance.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Business credit is a critical but often misunderstood tool that can unlock financing, protect your personal credit, and strengthen your small business.
Show Notes Page: https://www.thehowofbusiness.com/593-gerri-detweiler-business-credit/
Many small business owners assume business credit "just happens" once they form an LLC, but that's not how it works.
In this episode, Henry Lopez is joined by Gerri Detweiler, one of the leading experts on small business credit, to break down how business credit really works and why it matters far earlier than most owners realize. They discuss how business credit affects financing, vendor relationships, and even potential partnerships, and why larger companies often check your business credit before working with you.
Gerri explains the fundamentals of establishing business credit, including whether you should start as a sole proprietor or form an LLC, how credit reporting works, and why payment history is the most important factor in building strong business credit scores.
She also shares practical strategies for getting started such as using net-30 vendors, business credit cards, and equipment financing, and how to avoid common mistakes that can quietly damage your credit profile.
"Business credit doesn't build itself. You have to be intentional about it from day one," Gerri explains.
Gerri Detweiler has spent more than 30 years helping people make sense of credit and financing, with a special focus on helping small business owners. As an Education Consultant for Nav, she guides entrepreneurs in building strong business credit and understanding how it can open doors for growth. Gerri has answered thousands of credit questions online, written or coauthored six books, including Finance Your Own Business: Get on the Financing Fast Track, and has been interviewed in thousands of media stories as a trusted credit expert. Through her widely syndicated articles, webinars for organizations like SCORE and Small Business Development Centers, as well as educational videos, she makes complex financial topics clear and practical, empowering business owners to take control of their credit and grow healthier companies.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Inventory is one of the most misunderstood and cash-intensive assets in a small business, and managing it strategically can dramatically improve cash flow, reduce risk, and support sustainable growth.
Show Notes Page: https://www.thehowofbusiness.com/592-smarter-inventory-better-cash/
Inventory is often treated as an operational detail, but for many small businesses it is one of the biggest drivers of cash flow strain and hidden risk. In this episode, Henry Lopez reframes inventory for what it really is - cash tied up on your shelves - and explains why poor inventory decisions can quietly suffocate profitability.
Henry walks through the most common inventory challenges small business owners face, including trapped working capital, spoilage and obsolescence, shrinkage, unpredictable demand, and the temptation of bulk-purchase discounts that often do more harm than good. He explains why inventory typically lives on the balance sheet rather than the P&L (Profit & Loss Statement), and how that accounting reality can mask its true impact on business performance.
On this episode of The How of Business podcast Henry also explores the origins of Just-In-Time inventory, its roots in Toyota's post-war production system, and how small businesses can responsibly apply lean inventory principles today, especially now that most supply chains have stabilized after COVID disruptions.
Finally, Henry outlines the core components of an effective inventory operating system, from software and supplier management to a short list of essential KPIs that help business owners stay in control.
The key takeaway: inventory decisions are cash decisions and managing them well is critical to long-term business health and growth.
Inventory management is not just about what you sell or use, it's how you invest your cash, manage risk, and determine whether your business can grow and survive.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com