Implementing Profit First With Frank DeBenedetto and Ralph M. Rivera

Show Summary

This week we have a great episode with Frank and Ralph, where we discuss how they have implemented Profit First from day one of starting their business! They share strategies and techniques of how they implement Profit First, which has become a great tool to keep minority partners actively involved/supportive of the business. Too add, by implementing Profit First, within the first two weeks of starting the business, the company took their first distribution check! Welcome to Episode 106 of the Profit First Podcast!

Our Guests

ralph rivera (big)

Ralph Rivera

My passion is building and marketing web products for niche audiences. As founder and CTO of several businesses, I love to see ideas become reality and build sustainable businesses that create real value.

Presently, I’m focused on two businesses that I am co-founder and CTO of.

Podcaster’s Toolbox, a SaaS platform dedicated to helping podcasters streamline the way they plan, produce and promote their podcasts.

And audIT Sales Presentation System, a SaaS sales presentation system for the IT and MSP industry designed to help communicate technical concepts in simple ways using color and infographics.

In 1999 my wife Carol Lynn and I founded Rahvalor Interactive, a creative marketing services company. In 2012 we launched the Web.Search.Social service line to help small and medium sized businesses make the most of web, search and social marketing. Web.Search.Social also publishes business and marketing articles as well as a podcast about challenging the status quo of the entrepreneurial journey.

In 2013, I became a partner and CTO at Triberr, an influence marketing platform that helps bloggers and brands to amplify their reach.

Aside from my professional pursuits, I teach web development at Manhattan College in New York City and am a member of the leadership team of my homeowners’ association as well as the local chapter of BNI.

I also love playing the guitar. Badly.

I currently live in Holmdel New Jersey, but I still consider myself a resident-in-spirit of the island of my birth – Manhattan NYC. In the fall of 2016, my wife Carol Lynn and I are going to spend a year being location independent and are going to travel the United States while working on growing our businesses.

frank (big)

Frank DeBenedetto

Frank M. DeBenedetto has spent the past two decades passionately helping business owners navigate the complex world of technology. His interest in technology began back in college when he had trouble finding someone to fix the computer he was using to write lab reports. After watching one of his classmates reinstall the operating system, he became enamored with computers and their impact on our lives. Frank has always been determined to keep pace with modern technology and, today, that path has led him to become a highly sought after expert in the area of cloud computing.

A graduate of Rutgers University, Frank holds a Bachelor of Science degree in Mechanical Engineering. While pondering graduate school, Frank began his career in the financial services industry with The Guardian. He became life and health insurance licensed and passed the Series 7, 63 and 24 securities licensing exams. Before finally shifting his educational focus towards technology, he earned two designations from the American College of Financial Services Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC). After a period of selling, Frank found his niche in helping other financial services professionals utilize technology to grow their businesses. Soon after, his entrepreneurial spirit took over and he left the industry to fully concentrate his efforts on building a technology­consulting firm.

Frank is the President and Chief Technology Advisor of Two River Technology Group, a technology solutions provider located in Shrewsbury, New Jersey. After many years of honing his technical skills in the enterprise, he brought his style of consulting to the small to midsize business marketplace. With an emphasis on managed services, managed security, and hosted voice over IP (VoIP), Frank has helped grow TRTG into one of the premier cloud service providers in the area. Today, he spends the majority of his professional time on new business development.

Frank has been quoted in many publications and is a regular contributor to several blogs, podcasts, and newspapers. He frequently speaks at seminars and webinars on current trends in technology and hes the author of a book that offers practical advice on technology to the small business owner. Frank enjoys spending quality time away from technology with his family and close group of friends. He is an avid Rutgers football fan and can be frequently found in Madison Square Garden at a New York Rangers hockey game. In his spare time, Frank enjoys reading Stephen King, playing the guitar, golfing and skiing. Frank currently resides in Middletown, New Jersey with his daughter, Evangeline.

LINKS: ​fmdb@tworivertech.com, http://twitter.com/frankienextdoor , http://www.linkedin.com/in/frankdebenedetto

Corporate Partners

Receipt-Bank – Software and service to make the gathering, storage & processing of bills, receipts and invoices as easy and as cost effective as possible for businesses.

Nextiva – VOIP phone providers for small businesses.

Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.

Fundbox –  The simplest and fastest way to fix your cash flow by advancing payments for your outstanding invoices.

Comments

2 thoughts on “Implementing Profit First With Frank DeBenedetto and Ralph M. Rivera”

  1. Because you guys are so pro-business I sometimes find myself mentally journaling my own story with the idea that I’m going to post it here. I know you encourage interaction, but I’m not sure you want me spewing every thought I have here.
    I’m basically a baby in the entrepreneur world, so there is a fair amount of confusion at any given time as to what to do next. How do you follow a path when you can’t see it? I was given an opinion recently that helps a bit. She said that of course my clients will follow me, because they believe I know more than them. On some level that’s true, so she may be on to something. I was getting ready to use a Typeform survey to get feedback from my clients, but I haven’t rolled that out yet.

    I don’t know how many more baby steps are currently between me and my dream, but at least I’m profitable. I had one relatively big expense (rent), an experiment for the first half of this year. It didn’t end up paying for itself. I’m abandoning it in favor of a situation where I will get paid and space rental will be a set percentage of tuition (teaching classes for the city using their spaces). My goal is to build the client base big enough to afford some kind of full time space eventually.
    I guess that’s enough for today. Keep up the good work. Enjoyed hearing these two jokers today.

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