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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: small business advice
Employee Confidentiality: Circles Within Circles
The father of a friend, a rancher in South Texas, conveys confidential information by preceding it with the following caution. “Now I’m going to tell you a secret, and you have to swear not to tell another soul. And when … Continue reading
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Business Value: Do Your Numbers Add Up?
Most small business owners don’t understand how to value their companies. For some, misunderstanding the way that buyers look at the value of your business can be very costly in the long run. The fourth of our Rights and Obligations … Continue reading
3 Responses to Business Value: Do Your Numbers Add Up?
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It’s Your Money: Fighting Profit Guilt
A few weeks ago one of my peer boards was discussing the hiring of a new salesperson. One owner asked the others “What is the most important trait you look for in a new salesman?” Another member immediately burst out: “Someone … Continue reading
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More than a Feeling
This is the story of two business owners. It is true. It is real-time. Both stories occurred last week, and I was present in both conversations. The first story is one of disaster. A restaurant owner I work with was … Continue reading
One Response to More than a Feeling
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I like the perspective here and the awareness of the 2nd owner of “what could happen” if this continues. It’s a gut leadership feeling that many of us ignore. Having a leader who has consistent confidence in his teams efforts adn abilities is so important. But that does not just happen it takes effort and investment in leadership and team development. A great ROI.
Thanks for sharing. http://www.churchillleadershipgroup.co
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Lords of Chaos
Every business owner must be adept at dealing with chaos. Entrepreneurship demands the ability to choose a course of action when everyone else is staring into the headlights. It requires a willingness to make a decision with inadequate information, and to make new decisions … Continue reading
Jon,
Where can i find more on SDE evaluation?
Jeff
Jeff,
Pratt’s Stats, among others, will show historical and conparative valuations using SDE measures. To calculate your own SDE, I am sending a worksheet I created directly to you.
John,
I agree that most business owners take advantage of personal perks while running the business and I think most buyers realize that. When it comes to selling the business I have business owners recast their financials to deduct their perks and add back in a salary for the new owner. It reflects the true value of the company and the buyer can make their decision based on the recast numbers without the tax burden for the owner for the previous three years.
Larry Amon