“A good banker understands your business’s financial picture. They understand your balance sheet. They understand what your cashflow looks like. They have an understanding of what your needs are.”

In this episode, I sit down with Jace Dawson—the Commercial Regional Executive for Simmons Bank—to explore how manufacturing businesses can manage cashflow, secure financing, and grow strategically by leveraging traditional banking solutions.

Cashflow is the lifeblood of any shop, and understanding your operating cycle is critical to ensuring your business stays competitive and solvent.

We discuss the advantages of traditional banking over independent financing, how treasury management tools can streamline payables and receivables, and why a well-structured revolving line of credit can be a game-changer for managing working capital.

Whether you’re navigating equipment purchases, labor costs, or long payment terms, the right financial strategies can help your manufacturing business thrive.

• [2:12] Learn more about Jace Dawson
• [7:22] Bank financing vs independent financing
• [10:21] The advantages to traditional banking
• [13:07] The importance of cashflow in a business
• [16:32] Creating a good relationship with your banker
• [25:08] How your bank can help you manage cashflow
• [27:54] The basics of treasury management
• [30:33] What to look for with a working line of credit
• [36:18] What do payment terms cost you?
• [39:11] It’s time to reach out to your banker

• Simmons Bank
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• Connect with Mike Payne on LinkedIn

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When it comes to purchasing machinery, the decision isn’t always as simple as cash or financing—it’s a strategic move that can shape the future of your business.

In this episode of Buy the Numbers, Ty Willis joins me to break down equipment financing, Section 179 tax benefits, and how to make smart purchasing decisions. Should you leverage financing to preserve cash flow or invest upfront for incremental growth?

Ty dives into these questions, exploring how diverse lending strategies and tools like equipment finance agreements can help you maximize ROI without overextending your business.

We’ll also discuss common pitfalls, like buying equipment for depreciation alone, and why Section 179 should complement a smart decision—not drive it.

Whether you’re expanding operations, upgrading technology, or testing new markets, Ty’s expert insights will help you weigh the tax, financial, and growth implications of your next big move. Tune in for actionable advice to keep your business growing strategically!

• [2:44] Learn more about Ty Willis
• [5:11] How to build connections in the industry
• [10:42] Equipment financing + section 179
• [15:00] Why finance versus pay cash?
• [23:13] Why look at independent financing?
• [30:40] Flexible financing options
• [36:02] Is financing a purchase an option?
• [41:14] Key ratios that lenders look at
• [43:15] Pitfalls to watch out for
• [47:25] How to connect with Ty

• The Technology and Manufacturing Association
• EBITDA Growth Systems

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What’s the best way to transition a family business? Should you inherit it—or buy it outright? In this episode, we’re continuing my conversation with Nicole Wolter to explore the challenges and opportunities of buying versus inheriting your family business.

Nicole’s journey is one of intentionality and vision. She’s not just thinking about taking over the reins of her family business—she’s reimagining its future.

Nicole believes purchasing the business is the best path forward. It’s not just about easing her dad’s stress or ensuring a smooth, tax-efficient transition—it’s about creating a legacy that reflects her leadership. Her goal? To scale, modernize, and build a women-owned, minority-owned company that’s ready for the challenges of tomorrow.

But what happens when family members inherit businesses instead of buying them? I’ve seen firsthand the pitfalls, from last-minute sales to lost opportunities. Nicole and I discuss why honest family conversations are crucial, whether you’re aiming for a generational legacy or planning for a strategic exit.

If you’ve ever wondered what it takes to transition a family business—or if you’re navigating these decisions yourself—you’ll find valuable insights in this episode. And if you’re thinking about buying a business, I’m happy to help answer your questions. Reach out—I’d love to chat.

• [0:43] Leaders impact the entire organization
• [1:56] Buying vs inheriting your family business
• [7:31] Why do so many leave family businesses?
• [11:09] Building generational family businesses
• [14:21] How to buy a family business

• HM Manufacturing
• Connect on LinkedIn
• Follow on X

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• Connect with Mike Payne on LinkedIn

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