From $50\/hr consultant to building a $2M agency. Phil Risher grew Flash Consulting with a remote team of 18 by productizing services, mastering content & AI search, and adopting the mindset for 20%+ annual growth. (Episode 768 - Phil Risher)

1. What do you think is the hardest thing in growing a small business?

According to Phil Risher, the hardest thing in growing a small business is balancing growth with building the right team. As more clients come in, business owners must hire and train employees quickly enough to maintain service quality, but hiring too early can create cash-flow pressure while hiring too late can overwhelm the team. This constant challenge of managing new client demand, onboarding capable team members, and keeping finances stable at the same time is one of the most difficult parts of scaling a small business.

2. What's your favorite business book that has helped you the most?

According to Phil Risher, the business book that helped him the most is Profit First by Mike Michalowicz. He says the book had a major impact on how he manages finances in his company because it teaches business owners to prioritize profit first instead of treating profit as what is left after expenses. The system helps entrepreneurs control spending, improve cash flow, and build a financially healthy business by allocating money into specific categories like profit, taxes, and operating expenses. He also highly recommends Buy Back Your Time by Dan Martell, which focuses on delegating tasks and buying back the founder’s time so they can focus on leadership and scaling the business.

3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business?

According to Phil Risher, some of the best resources for learning how to grow a small business are podcasts, YouTube, and books, especially content that teaches practical strategies. He specifically recommends learning from Alex Hormozi on YouTube because his videos break down business growth, marketing, and sales in a clear and practical way. Phil also emphasizes not relying on just one learning format—he suggests combining podcasts, books, and videos because different formats help you understand ideas better and apply them faster in your business.

4. What tool or resource would you recommend to grow a small business?

According to Phil Risher, two tools he strongly recommends for growing a small business are Asana and Slack. He explains that Asana helps business owners organize tasks, projects, and workflows so everything is tracked in one place instead of scattered across emails or spreadsheets, while Slack creates a centralized communication hub for teams to collaborate efficiently, especially as the company grows beyond a few employees. Together, these tools help improve productivity, transparency, and coordination within a growing team.

5. What advice would you give yourself on day one of starting out in business?

According to Phil Risher, the advice he would give himself on day one of starting a business is to think much bigger from the start. He explains that when he first began, he was focused on small goals like making $100,000, but over time he realized the opportunities were far larger than he imagined. His lesson is that entrepreneurs often limit themselves by thinking too small, while the real potential of a business can grow far beyond what they initially believe is possible.