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It’ll Never Happen to Me – Business Succession Planning

It’ll Never Happen to Me – Business Succession Planning

The Hit by a Bus Scenario Anyone that owns a business has heard about the hit by a bus scenario at some point in time. The problem is we all deny it will ever happen to us. But, is that a realistic way to look at it? Business succession planning is how you address the ... Read More
 
How to Get Life Independence and Financial Freedom Using Your Business

How to Get Life Independence and Financial Freedom Using Your Business

It’s a new year.  Then economy seems headed in the right direction. And, from all the privately owned business owners I talk with they are aggressively looking to grow this year. These are all good things, but be careful!  If you’re focused just on achieving growth without a reason you could be just as miserable ... Read More
 
Do You Think Like a Small Business Owner or Entrepreneur?

Do You Think Like a Small Business Owner or Entrepreneur?

The Employee Scenarios Defined Several events recently occurred with client businesses that made me take a step back and really try to understand a why small business owner makes some of the decisions that they do!  For nearly a year I have been advising one client to put better employee systems in place.  Well, it’s ... Read More
 
5 Reasons to Make Business Self-Sustainability a Priority

5 Reasons to Make Business Self-Sustainability a Priority

Business self-sustainability is one of the key topic I write about regularly.  That’s because there are so many benefits that you get by focusing on business self-sustainability. The last post titled, How Big Do You Need to Grow Your Business for Self-Sustainability?, I showed how little business growth is really necessary to have business self-sustainability.  ... Read More
 
How Big Do You Need to Grow Your Business For Self-Sustainability?

How Big Do You Need to Grow Your Business For Self-Sustainability?

In the past few weeks I have had several small business owners who I’ve met with that were interested in creating self-sustainability in their business.  They loved the idea that the freedom and independence which they wanted when they first started their business could be close at hand. They, like most business owners, thought their ... Read More
 
Succession Planning vs. Exit Planning Which Do You Use?

Succession Planning vs. Exit Planning Which Do You Use?

Often the terms succession planning and exit planning get used interchangeably.  However, there is a definitive difference between the two. It’s important as a business owner that you understand the difference. Succession planning is really identifying, training, and transferring the leadership/management of a company to another person or team of people.  Exit planning, on the ... Read More
 
3 Stages to Rapidly Achieving a Self-Sustaining Business

3 Stages to Rapidly Achieving a Self-Sustaining Business

In the post “What Is a Self-Sustaining Business?” the correlation between the growth cycle and creating a self-sustaining business introduced.  Here I’d like to share how to begin moving toward making your business self-sustaining! Achieving a self-sustaining business is simple enough.  You just have to achieve the goal of each of the first 3 stages of the ... Read More
 
What Is a Self-Sustaining Business?

What Is a Self-Sustaining Business?

I talk about a creating self-sustaining business all the time.  In fact, it’s the core of the Business Growth Simplified business philosophy! Assisting small business owners in growing a self-sustaining business. But, what does a self-sustaining business really look like, and how do you know that you’ve created one?  The test to determine if you have ... Read More
 
5 Owner Competencies Required for Rapid Business Growth

5 Owner Competencies Required for Rapid Business Growth

There are dozens of articles and blog posts written every day about what you need to really grow a business.  Most tout the most obvious aspect – more money and financing; better marketing; added sales; a raving customer; etc. Tell you something you don’t know if you own a business.   You need all those things just to have a ... Read More
 
5 Steps to Establishing a Repeatable and Sustainable Business

5 Steps to Establishing a Repeatable and Sustainable Business

In a previous post titled Getting Beyond the “Survival Stage” of Growth in Your Business, I touched on the process by which you begin building systems which your business can operate on its own.  Here I want to focus on how you actually do it. First, the process is pretty simple: Do It Document It ... Read More
 
Build an Asset NOT Just a Job – Entrepreneurship

Build an Asset NOT Just a Job – Entrepreneurship

Do you work your business like a job for a paycheck or do you build an asset which will generate wealth like an on-going annuity for you and your family? This is what keeps small business ownership from true entrepreneurship. I picked entrepreneurship as the topic because I am up to my neck in interviews this week.  A ... Read More
 
5 Competencies of Entrepreneurs vs. Small Business Owners

5 Competencies of Entrepreneurs vs. Small Business Owners

I read a great article titled “Is there a difference between entrepreneurs and business owners?”  It states what I’ve said for years. as people throw around the term “entrepreneur” like you wake up one day and decide you’re going to be one!  Nothing could be further from the truth. The problem is many who call ... Read More
 
Nowhere Land – Stuck Between Small Business Survival and Success

Nowhere Land – Stuck Between Small Business Survival and Success

A great family and friends, beautiful home, nice cars, regular vacations, all the material things you could ever want.  Your life is a dream.  Sound familiar or like what you want for your life? I meet small business owners all the time that live this lifestyle.  The problem frequently is they don’t realize how close ... Read More