On their show, Dirty Secrets of Small Business, Jack Mencini and Adam Sonnhalter of Maximum Value Partners talk about nearly every concern small business owners have and worry about, but never had a forum to get the insight and answers they need until now.

In this week’s segment, they discuss the common myth that as an owner, you can outsource the numbers associated with your business… the profit, loss, sales, overhead, projections… everything, so that you really don’t have to be concerned about them. Nothing could be further from the truth.

As a small business owner, it is imperative that you understand every aspect of your business and “own” the numbers to be able to chart your course of action and make changes as it relates to how well the sales and profits are doing for you and the organization you built. Another dirty secret this week is that you don’t have to make every decision immediately. Sometimes, and even most times, it is good to let things percolate a little bit without acting on the situation and even develop an “idea list” to take a look at a little later.

This week’s “How Come Question” centered on: How come my team isn’t happy when I get new business?”

Think about it. New business to you, the owner, represents a growing, thriving organization. New business to your team represents some negatives: more work, more hours away from relaxing at home, more stress and more pressure to get everything done to the boss’s delight.

When new business comes on, it would be a good idea to be as approachable as possible to get feedback and possibly talking to the “mole” in your organization to find out what the back story is on how everyone is really feeling about some of the things taking place in your organization.

As Theodore Roosevelt said: “People don’t care how much you know until they know how much you care.” And, this is very true when it comes to your business, your team and integrating more projects into the already hectic mix of running a small business. Tune into DirtySecretsofSmallBusiness.com to catch up on all the podcasts and learn more on how to be productive and successful.

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Jack Mencini and Adam Sonnhalter, co-business partners of Maximum Value Partners have coached hundreds of small business owners over the last 15 years. On their show, Dirty Secrets of Small Business they discuss the common myth that as an owner, you should keep all your customers even if some of them are not contributing to your profits and even if some of them aren’t helping you grow your business.

“The 80/20 rule is a good one to base your business mix on,” said Mencini. “Do the analysis to see that 80% of your profits are coming from 20% of your clients and it won’t take you long to realize that getting rid of some of those deadbeats who are not contributing to your success will free up time to concentrate on the clients who are helping you grow.”

In this week’s radio show, Jack and Adam reveal the dirty secret that most business owners don’t understand their numbers but instead typically rely upon their bookkeeper or CPA to prepare and review their balance sheets and profit and loss statements. Don’t let this be you. There’s a better way. They also disclose the 3 key elements to concentrate your efforts and focus on as a business owner: Plan, Direct and Control to run a successful small business.

They also discuss the responsibility owners have to their employees. “We can use the analogy that your employees are like young birds in a nest with their mouths open waiting for food. Your employees have open minds and ambitions to learn from you and be directed to how they can be in sync with helping the business grow on a successful path… if they have the right leader feeding them and guiding them, “ said Sonnhalter.

Whether you’re starting a small business or already have one, tune into the show to get some great insights on hiring, segmentation, marketing and sales that will undoubtedly help you no matter what stage you are at with your business.

The post Not all clients are good clients to keep! appeared first on Maximum Value Partners.

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If you are a small business, which there are 25 million in the United States, you DON’T NEED A BUSINESS PLAN!  What you need is a profit plan and the 7 Keys to Success.  

In this week’s show, Dirty Secrets of Small Business, Jack Mencini and Adam Sonnhalter debunk this myth that every business needs a business plan. They also discuss the questions a small business owner can ask to have a direction to run the business.  It starts with:  Where are you today? Where do you want to go? And, how do you get there?   Within theses questions is additional information to get the business on the right path without having to create a 100-page business plan.

Jack and Adam give great insights on how to hire employees for your small business and the benefits of using a recruiter.  The money spent with a recruiter can be the best investment a small business owner can make in finding the right people to help grow the company.

Whether you’re starting a small business or already have one, tune into the show to get some great insights that will undoubtedly help you no matter what stage you are in with your business.

The post Small Business Myth: You Need a Business Plan to Succeed! appeared first on Maximum Value Partners.

The post Small Business Myth: You Need a Business Plan to Succeed! appeared first on Dirty Secrets of Small Business.

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