3 Key Points in this Week’s Episode:
- Don’t get focused on only the revenue your business produces, look at what profit your business earns.
- Be realistic about what you are selling when selling your company.
- What your business produces when you are on holidays is a good measure of what your business is worth.
The Uplifting or Unexpected Story
[1:13] Flo, an 80-year old woman tells her story of how at the age of 80 she has discovered who she is and what her identity is independent of her children and late-husband.
Interesting Interview with a Great Entrepreneur
[3:27] Adam Fenner is a CPA who advises small business owners on accounting, tax, and finance matters and the founders of the Small Business Owners’ Revolution.
[4:27] Find Your Blueprint – Adam recognizes that micro-decisions define success and he constantly evaluates what he is doing to make sure that he makes better decisions and be as effective as possible.
[10:31] Remove Your Barriers – Adam had two businesses fail before he was successful. He learned that you need to have a passion for what you are doing and because he didn’t have a passion for those first two businesses when things got hard he quit.
[14:40] Fully Express Your Greatness – Adam had completed a presentation in front of a group for veterans and finally was able to break-through and land a client. That first success made Adam realize that this is what he wanted to do.
[19:58] Teaching Moment – Adam teaches us how to properly value your business if you are selling it and how to value a business that you want to buy.
How to Make More Money
[37:01] Develop a sales plan by preparing for each call, by preparing in advance with this strategy that takes only seconds you will increase your closing ratios and revenue.
[38:59] Communicate with your family, include them as you plan, this will make them more likely to support your efforts.
This episode sponsored by:
Every business needs a website and I have used Gerrit and Trackstar Web Design since 2012 and so should you.
If you are hiring a new employee, I highly recommend that you use the Screen2Fit recruitment platform by Pro.File.
I use Process Street to create systems in my business and I highly recommend that you use Process Street as well.
If you enjoyed this interview, then you will love my new book The Blueprint of a Great Business! This book is for self-employed people with service-based businesses that want to provide for their families and create freedom and flexibility in their lives.