The Numbers Behind a Healthy Business That Every Owner Should Know

Revenue can look great on paper while the business underneath it is barely making money. Todd breaks down the numbers every real estate media business owner should understand—from net profit and expenses to cost of goods and where your revenue is actually coming from. He also shares how losing $250,000 in revenue from a single client forced WoW to take a much harder look at its finances—and ultimately become a healthier business. They also discuss what not to cut when money gets tight, preparing for the seasonality of real estate, keeping personal and business expenses separate, and why hiring a bookkeeper doesn’t mean you can stop acting as the CFO of your own company. Chapters 00:00 — The $250,000 Text Message 00:51 — Welcome to the Spiro Podcast 05:14 — The Numbers Every Owner Needs to Know 08:22 — Business Is Numbers 10:48 — What Is a Healthy Net Profit? 15:00 — Cutting Expenses Without Cutting Growth 22:12 — Understanding Your Cost of Goods 25:01 — Where Is Your Revenue Actually Coming From? 28:23 — How WoW Survived Losing Half a Million Dollars 34:05 — Don’t Spend Your Best Month Like It Happens Every Month 36:14 — Separate Your Personal and Business Expenses 38:27 — You Are the CFO of Your Business 42:34 — QuickBooks, Xero & Tracking Your Numbers That’s about the max I’d go on chapters for this one. The episode naturally has several distinct financial concepts, so fewer than that starts lumping together things people may specifically want to jump to. Resources Mentioned Spiro: spiro.media Spiro Sync 2027: spiro-sync.com Questions / episode ideas: [email protected]

When the shoots slow down, it’s easy to feel like something is wrong. But that extra space on your calendar might be exactly what your business needs. Craig shares what happened when getting another photographer trained finally gave him room to step back into business development—from reconnecting with current and former clients to showing up at brokerage offices and Realtor events. Todd and Craig break down why relationships take time, why you shouldn’t panic when a client leaves, and how the work you do during the slow season can create momentum for the next busy one. Chapters 00:00 — What Happened When Craig Finally Had Capacity 00:54 — Welcome to the Spiro Podcast 02:23 — Spiro Updates & Upcoming Conferences 07:28 — What Do You Do When the Schedule Slows Down? 09:04 — Tony Is Ready to Shoot Solo 18:49 — Turning Extra Time Into Business Development 22:44 — Stop Pitching Products. Start Solving Problems. 24:22 — One Realtor Open, Four New Conversations 27:49 — How a Lost Client Came Back a Year Later 33:46 — Get Out of the Car and Go Say Hello 36:40 — Growth Takes Time: Plant the Seeds Now 42:02 — Next Episode: The Numbers That Matter Resources Mentioned Spiro: spiro.media Spiro Sync 2027: spiro-sync.com Questions / episode ideas: [email protected]  

Spiro Sync is back for 2027, and Craig and Shannon are giving you the full preview of what’s changing, what’s staying, and why stepping away from the day-to-day of your business might be exactly what you need heading into a new year. They look back at what made the first Sync special, preview the speakers, workshops, breakouts and new format for 2027, and talk about the part that’s hardest to recreate online: being in a room with other real estate media professionals who actually understand the challenges you’re dealing with. Plus, why you should consider bringing your team—and why you do not have to be a Spiro user to attend. Chapters 00:00 — When You Finally Stop Caring What Everybody Thinks 06:14 — Take a Breath: Why Spiro Sync Exists 11:47 — What We Learned From Sync 2026 14:27 — What’s Changing for 2027 19:22 — The Part of Sync Craig Didn’t Expect 24:09 — Keeping the Community Small as the Event Grows 27:30 — Speakers, Workshops & Choose-Your-Own Breakouts 31:46 — Who Should Come to Spiro Sync? 34:03 — Why 2027 Is Going to Be Bigger 36:33 — Dates, Travel, Tickets & VIP 40:00 — A Live Podcast From the WKRP Room?! Resources Spiro Sync 2027: spiro-sync.com Spiro: spiro.media Questions / want to lead a breakout: [email protected] Podcast topic ideas: [email protected]

Just because something worked for your business five or ten years ago doesn’t mean it still makes sense today. Todd and Craig unpack the idea of the “legacy tax”—the hidden cost of decisions you keep carrying simply because that’s how you’ve always done things. From outdated pricing and unprofitable clients to old services, missed opportunities, hiring practices, and employees who may no longer fit where the company is going, they share real examples of legacy taxes they’ve paid in their own businesses. The challenge: if you were making the decision today with everything you know now, would you make the same choice? Chapters 00:00 — What Is the Legacy Tax? 02:00 — Spiro Sync & Product Updates 07:24 — Craig’s New Photographer: Training Update 13:43 — The Hidden Cost of “We’ve Always Done It This Way” 18:43 — How Inaction Creates Its Own Tax 26:28 — Old Pricing, Loyal Clients & the Fear of Raising Rates 33:17 — Are Old Services Still Worth Offering? 36:08 — When Playing It Safe Costs You Growth 40:22 — When People Become Part of the Legacy Tax 46:36 — Find the Legacy Taxes in Your Own Business Resources Mentioned Spiro Sync 2027: spiro.media Questions or episode ideas: [email protected]

What is your real estate media business actually worth—and what would happen if you decided to sell it? Todd and Craig break down how businesses are valued, why revenue alone doesn’t determine what someone will pay, and how EBITDA, clean financials, systems, client relationships, and owner dependence all factor into the equation. They also share the real story of how WoW acquired Craig’s photography business and the deal they structured to make it work for both sides. And before you decide to sell, there’s another question worth asking: Do you actually want out, or are you just exhausted? Chapters 00:00 — Intro and Spiro Updates 07:00 — Craig’s Photographer Training Follow-Up 11:17 — So… You Want to Sell Your Business? 14:41 — Are You Selling for the Right Reason? 23:27 — What Is Your Business Actually Worth? 24:43 — EBITDA and How Businesses Are Valued 27:02 — Can Your Business Run Without You? 29:15 — Why Clean Financials Matter 32:51 — How WoW Acquired Craig’s Business 37:54 — Structuring a Deal That Worked for Both Sides 41:10 — Your Revenue Is Not Your Valuation 44:50 — Build a Business Someone Would Want to Buy Resources: Spiro Sync 2027: spiro-sync.com Questions or episode ideas: [email protected]

Hiring another photographer can create the capacity your business desperately needs—but finding the right person is only the beginning. Todd and Craig share lessons from their own hiring experiences, including why client interaction can matter more than technical skill, when a contractor model may need to change, and how hiring too late can hold back an entire market. They also discuss training through real-world examples, explaining the “why” behind your standards, and giving new photographers enough time and repetition to become confident on their own. Chapters 00:00 — Hire for Personality, Train the Technical Skills 04:34 — Bringing a New Photographer Onto the Team 09:01 — Knowing When You Finally Need Help 11:19 — Lessons From Craig’s First Two Hires 20:27 — Finding the Right Person for the Market 25:09 — When the Contractor Model Isn’t Working 28:00 — How More Capacity Reignites Growth 30:25 — The Cost of Waiting Too Long to Hire 35:00 — Training Your Values in the Field 38:26 — Your New Hire Is Always Watching You 42:44 — Training Someone to Become Better Than You 44:51 — Give Them the Time and Reps to Improve Resources: Spiro Sync 2027: Visit https://spiro-sync.com The REPP Conference: Visit https://repplaunch.com/repp2026 Questions or future episode ideas: [email protected]  

As your team grows, communication gets complicated fast—and without a clear system, important work gets buried across emails, messages, and meetings. Todd and Shannon share the communication mistakes they’ve made while scaling, including how to choose the right channels, close the loop on tasks, give clearer direction, set meaningful deadlines, and keep your inbox from running your day. Chapters 00:00 — Stop Overexplaining 00:58 — Welcome to the Spiro Podcast 03:50 — Spiro Sync 2027 and Upcoming Events 08:01 — Why Communication Gets Harder as You Grow 15:10 — Decide How Your Team Should Communicate 28:46 — Open-Loop vs. Closed-Loop Communication 34:57 — Clarity Over Overtalking 40:33 — Bullet Points, Deadlines, and Clear Priorities 46:45 — Turning Your Inbox Into a Task List 54:43 — Using AI, Clearing the Clutter, and Letting Go Resources Spiro Sync 2027: spiro-sync.com Questions and topic suggestions: [email protected]

Busy season can make your real estate media business feel flush—until the slower months expose what you failed to plan for. Todd and Craig break down how to calculate your true monthly spending, budget across an entire year, prepare for taxes and irregular expenses, and avoid making emotional purchases after a strong month. They also discuss saving for future vehicles, investing, giving, and why hiring a bookkeeper does not remove your responsibility to understand the numbers.   Relevant Links: Spiro: https://www.spiro.media/ https://spiro-sync.com/ Contact Spiro: [email protected] Chapters 00:00 — Stop Making Financial Decisions on Emotion 02:10 — Taking Time Away From the Business 06:09 — Spiro Sync and the Danger of Isolation 08:51 — Spiro API, MCP, and Revision Updates 15:04 — The Busy Season Money Trap 19:38 — Know What You Actually Spend Each Month 27:21 — Why You Need a 12-Month Budget 30:13 — Preparing for Taxes and Major Expenses 32:41 — The Real Cost of Buying a Car 40:07 — Saving, Investing, and Giving 46:37 — Review Your Finances Consistently 49:49 — You Are Still the CFO

Company culture isn’t created by office perks or a list of values hanging on the wall. It’s revealed in how leaders treat their people, what behavior they tolerate, and how the team responds when there isn’t an SOP telling them exactly what to do. Todd and Craig discuss building trust, turning core values into everyday decisions, and the difficult choices required when a talented employee is no longer aligned with the team. They also share practical ways to define the values that should guide your business as it grows.   Relevant Links: Spiro: https://www.spiro.media/ https://spiro-sync.com/ Contact Spiro: [email protected]   Chapters 00:00 — Let People Be Who They Are 09:01 — The Excuses High Achievers Make 17:04 — Showing Up With an Owner’s Mindset 19:26 — What Company Culture Actually Is 22:11 — Living Your Values Instead of Posting Them 26:07 — What Guides the Team When There’s No SOP? 28:36 — The Five Values Behind WoW 40:12 — When Talent and Culture No Longer Align 48:59 — How to Define Your Own Core Values 52:35 — Building a Culture Where People Can Be Themselves

Scaling a media company can feel overwhelming—but many of the biggest problems come from decisions that seem reasonable in the moment. In this episode, Craig and Todd break down seven things Todd no longer does when growing a real estate media business. They cover why customer service matters more than camera experience when hiring, how to coach struggling employees without solving every problem for them, and why underperformers need clear, direct feedback. They also discuss training photographers, responding to pricing pressure, saving video shoots when listings sell quickly, and addressing difficult issues with top clients before they become bigger problems. Each lesson comes from a mistake Todd has made himself, giving business owners practical ways to scale with less fear, better communication, and stronger systems. Relevant Links: Spiro: https://www.spiro.media/ Contact Spiro: [email protected] Chapter Timestamps: 0:00 Cold Open – Hire for Customer Service, Not Just Camera Skills 0:55 Welcome to the Spiro Podcast 1:31 Perspective, Gratitude, and Defining What Success Means 6:30 Introducing “7 Things I Never Do When Scaling a Media Company” 7:29 Spiro Updates: API Beta, MCP, Scheduling, and @Mentions 14:02 #1 – Never Hire for Camera Experience Over Customer Service 22:36 #2 – Never Do the Homework for a Struggling Employee 29:53 #3 – Never Guess Whether an Underperformer Knows They’re Failing 37:26 #4 – Never Train the Art of Photography 45:18 #5 – Never Make Knee-Jerk Price Cuts for the Wrong Clients 53:46 #6 – Never Let a Fast Sale Cancellation Kill a Video Shoot 56:53 #7 – Never Avoid the Elephant in the Room with a Top Client 1:03:07 Final Thoughts and Episode Wrap-Up