Dirty Secrets of Small Business

Dirty Secrets of Small Business

The Dirty Secrets of Small Business Podcast is here to give you the tools, knowledge and power to achieve success whether you’re starting a new small business or already have one.

Episodes

April 25, 2024 44 mins
One of the areas of small business coaching where we’ve specialized over the past two decades plus has to do with transitioning the business from one generation to the next.  As you might imagine, over that time we’ve come across just about every scenario you can imagine.  The one that people seem to fear most is when the current business owner dies while still running the business.  So the question for today is, “What happens when...
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You might have noticed that it’s been a few weeks since we’ve dropped a podcast.  It’s the first time in nearly 8 years of recording Dirty Secrets of Small Business that we’ve missed a week. We have some sad news to report.  My business partner of over 20 years in Maximum Value Partners, and my co-host for nearly 8 years on Dirty Secrets of Small business has passed away. 
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In This Episode Today we were joined on the show by business owner Jeremy Orsky of Ohio Collision Group.  Jeremy was an MVP client for nearly 8 years and we had a lot of fun and tremendous success together!  During the show today Jeremy shared his story of acquiring several underperforming collision repair shops and growing them and eventually selling them to a consolidator.  He was able to accomplish all of this by his early 40s. ...
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October 19, 2023 33 mins
With all the battles going on to get workers back in the office, we started to think of the good old days when folks would complain that the boss is never around or the opposite, they never leave!  But our question today is bigger than that.  Is it good for the boss to be around?  What kind of message does it deliver if the boss is around too much or not enough?
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October 12, 2023 36 mins
One of the great things about buying vs. starting a company is that when you buy a business you have some history and some things established.  Things like customers, vendors, and employees.  When starting out you have to build everything from scratch.  As you might imagine, when you’re building something from scratch it’s easy to put your stamp on the company.  But how do you do that with a company you just bought?  What if it’s o...
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Today we were joined on the show by business owner Phil Billick of Valley Ridge Farms.  Phil was one of MVP’s earliest coaching clients with a prior company he started and he is also Jack’s nephew!  During the show today Phil shared his story of not only starting, growing, and then eventually selling one business, but also how he’s been involved in starting several more including his 800 acre farm in southeast Ohio.
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The good news is you’ve gotten that offer you can’t refuse and you are going to sell your company.  Now the question is what do you do next?  Do you stay on with your company after the acquisition?  Do you ride off into the sunset?  Do you start another company?  So many choices and so little time.
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How many times have you uttered the phrase, “I don’t have time!”?  If you’re like most of us, it’s likely been hundreds or even thousands of time…just this year!  Way too many small business owners utter that same phrase when we talk with them about exploring new opportunities.
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One of the things we talk about often when it comes to business partners is the timing of difficult discussions.  This is especially important when those business partners are also life partners because you’re going to be seeing this person after work as well.  The last thing you want to do is let things that happened at work impact what happens at home.  But hey, we’re all human.  And sometimes our emotions and best intentions can...
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Today we were joined on the show by business owner Ben Ihde of Wild Birds Unlimited. Ben was a coaching client of MVP for several years and is a repeat guest on Dirty Secrets of Small Business (see link below for his February 14, 2019 appearance).  During the show today Ben shared with us what’s been going on since we last heard from him.
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In This Episode If you think it feels lonely being a small business owner, just wait until after you sell your business.  There are even fewer people who can relate to that.  Especially if you sell the business for enough money and you don’t have to work any more.  I mean how do you answer the question when your kids’ friends wonder why your mom or dad doesn’t go to work? We know, you can’t wait for that challenge right?  The chall...
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Making the decision to hire someone can be very stressful on a small business owner.  What if we pick the wrong person?  Can we truly afford to add someone else to the payroll?  What will we do if we don’t hire someone?  How soon will we know we hired the right person?  These and many other questions roll through the heads of business owners looking to make hiring decisions.
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August 17, 2023 47 mins
Are you ready for retirement?  I can’t wait for retirement!!  Can I retire now?  Everywhere you look you can find someone trying to give you advice on retirement.  But as a small business owner, retirement is likely something you’re not looking forward to.  I mean isn’t retiring something old people do?
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Today we were joined on the show by business owner Joe Butler of Prescription Fitness and Butler Wellness Group. Joe was a coaching client of MVP for almost a decade.  During the show today Joe shared some of the key moments in his growth from one location when we met him to 7 locations today.  It was anything but a straight path!  Joe’s energy and enthusiasm is infectious.
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Can’t I just say it!  Why can’t I just tell them how I feel?  These and many other thoughts have likely gone through your head at some point.  Perhaps you are frustrated or feeling some pressure and you’re just about to burst!  Take a deep breath, in through the nose and out through the mouth.  Take another one and take a step back from the situation.  Should you say what you’re thinking or should you bite your tongue and look for ...
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Ever bought a company before?  What, no one’s ever asked you that question before?  Any guess what the top response is when we ask someone if they’ve ever bought a company before?  Some version of, “I don’t have the money/big pile of cash.”  Well, what if someone gave you the company?  What then?
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July 20, 2023 26 mins
Is it time to sell your company?  What does it even mean to be ready to sell your business?  I mean people talk about it like it’s common knowledge or something.  It’s to the point that you almost feel silly asking the question.
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One of the best things about summer is the chance to have some vacation time.  It’s a chance to break up the monotony of your day-to-day and add some different type of chaos and excitement to your world.  But one of the drawbacks is that vacations can get you out of your routine.  Disrupting routines isn’t necessarily a good or bad thing by itself, but it can often be difficult to get those routines reset. 
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One of the great things about being a small business owner is there are new things popping up all the time.  A key success factor for any small business owner is being able embrace and respond to these new challenges and opportunities.  But growing can be uncomfortable and scary at times.  If nothing else, it can make you feel even more lonely and under pressure.
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Does your business have a plan to make money on purpose?  This might seem like a strange question, but in our several decades of working with and advising small business owners we have found that the vast majority don’t have this plan in place.  We refer to it as a Profit Plan.  Chances are you may have heard it called a budget.  No one like to be put on a budget, but we all like to make profits!  So what does your Profit Plan look...
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