Many small business owners are not formally educated in how to run their businesses. Many learned by starting and then flying by the seat of their pants. Other successful small business owners will also commiserate of having earned their PhD at “The School of Hard Knocks.”

To Jack Mencini and Adam Sonnhalter, hosts and business coaches who are small business owners themselves with Maximum Value Partners www.maximumvp.com  and the hosts of Dirty Secrets of Small Business, The School of Hard Knocks out ranks any ivy league school in their book. Turning to a resource like a small business coach, also helps with the challenging situations of running a productive, profitable and sustainable business.

Jack and Adam know a thing or two about small business having run about two-dozen small businesses themselves. Over the last 15 years, they have coached hundreds of owners using their formula: The 7 Keys to Success http://maximumvp.com/7-keys-to-success/

Each week on Wednesdays at 7:30 pm (EST) on WINT Radio 1330 and the new 101.5 FM, the coaches invite listeners to be a part of the show and feel free to call in (440-946-9468). Listeners can ask questions about their businesses or even debate the examples Jack and Adam share on the trials and tribulations of their clients and the dirty secrets of small business.

On this week’s episode of Dirty Secrets of Small Business, the business coaches give an overview of How Do I Fire My Relative? The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Jack and Adam share insights and stories on three relationship areas where small business owners often struggle with relieving relatives of their duties in the business:

1. A spouse
2. A parent or childor
3. A sibling.

Firing a relative is vastly more complicated than firing an employee who is not related to you. This family member will still be in your family and not out of your life unlike a non-related employee. Jack and Adam recommend trying to find another role for this individual in the business that is now more suited to their abilities and work ethic. If all of those options have been exhausted, another solution could be for the relative you want out of the business is to help them find a more rewarding position with another company or even find a company for them to buy and become their own boss.  If both of you can get comfortable with what that relative will be doing next it helps to ease the exit a bit.

As business coaches, Jack says that they bring a perspective to the situation of firing the individual or getting them to exit that is less emotional and more pragmatic in determining what is the best course of action for the business and for the health of the family relationships going forward.  They help take much of the emotion out of the equation by focusing on what is best for the organization vs. any one particular individual.

If anyone in the listening audience would like to get more insight into how to develop a plan to part ways with that relative who is now doing more harm than good for your business, give Jack and Adam a call (877-849-0670) and they will talk you through it because they know how to do it.

For more info on small business challenges tune into past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Do you have any How Questions of your own to email to Jack and Adam or any war stories on listening to a suit rather than working with an effective small business coach?  Do it by sending your questions to radio@maximumvp.com  or submit a question on their web site at  http://maximumvp.com/how/

If you have a success story or a question you would like to share, email or contact Jack and Adam directly at radio@maximumvp.com or 877-849-0670.

Remember…You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Dial  440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.

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Do you like to get the latest insights on small business and how government is affecting small business? Well, Dirty Secrets of Small Business is the show/podcast for you as business coaches, Jack Mencini and Adam Sonnhalter debate, ponder and discuss such issues as why do politicians say they are going to create jobs which led to this week’s topic:  The Future of Work.

Jack and Adam are also very intuitive on all matters of small business because they know business in having owned their own small businesses and currently the founders/coaches for Maximum Value Partners, www.maximumvp.com, helping hundreds of clients over the last 15 years involved in small businesses.

Listen each week on Wednesdays at 7:30 pm (EST) on WINT Radio 1330 and the new 101.5 FM, the coaches invite listeners to be a part of the show and feel free to call in (440-946-9468). Listeners can ask questions about their businesses or even debate the examples Jack and Adam share on the trials and tribulations of their clients and the dirty secrets of small business.

On this week’s episode of Dirty Secrets of Small Business, the business coaches give their viewpoints on   The Future of Work The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Jack shares his insights on the following:

• The future of being paid for your data
• The use of robots and technology taking over jobs
• Government doesn’t have a clue on creating jobs
• Constant consumption of technology is changing business

Adam gives the insight that there are 25 million small businesses in the United States. These businesses on Main Street USA are all over the nation! These include small hometown bakeries, pizza shops, florists and diners.  These are small businesses that if each one hired one more person, it could change the course of employment in America.

Many of these businesses are flourishing and some are being challenged.  The key to success is productivity, profitability and sustainability, which Jack and Adam say are the foundation to building and having a business grow. These concepts are ingrained in their 7 Keys to Success http://maximumvp.com/7-keys-to-success/

In addition to talking about the future of work, Jack and Adam dig into the whole concept of retirement and how that belongs with their list of words they wanted to purge from our vernacular like the word BUDGETS rather than PROFITS for your business. To get more insight on the business coaches list of words to get rid of for small business success tune into this week’s show and  past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

 Do you have any How Questions of your own to email to Jack and Adam or any war stories on listening to a suit rather than working with an effective small business coach?  Do it by sending your questions to radio@maximumvp.com  or submit a question on their web site at  http://maximumvp.com/how/

If you have a success story or a question you would like to share, email or contact Jack and Adam directly at radio@maximumvp.com or 877-849-0670.

Remember…You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Dial  440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.

The post The Future of Work? appeared first on Maximum Value Partners.

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Small business owners now have advocates on a radio/podcast called Dirty Secrets of Small Business with Jack Mencini and Adam Sonnhalter, hosts and business coaches who are small business owners themselves with Maximum Value Partners www.maximumvp.com

Each week on Wednesdays at 7:30 pm (EST) on WINT Radio 1330 and the new 101.5 FM, the coaches invite listeners to be a part of the show and feel free to call in (440-946-9468) to ask questions about their businesses or even debate the examples Jack and Adam share on the trials and tribulations of their clients and the dirty secrets of small business.

On the July 12 episode of Dirty Secrets of Small Business the business coaches give an overview of How do I do a deal? The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Recently, Adam was in a huge book store scanning the shelves in the section of ‘Small Business’ titles and was flabbergasted to see a book titled:  How to Buy a Small Business from the publishers of HBR.  For those of you not familiar with “HBR” it stands for Harvard Business Review.

“I thought to myself,” said Adam, “You’ve got to be kidding me. The goliath of all big business academia is Harvard and they are publishing a book trying to be relevant to small business?

“The suits and tie types who wrote this book give a summary that is full of BS when it comes to advising a potential small business owner. If their goal was to scare someone away from potentially buying a small business by telling them they need somewhere between $500,000 and $1 million for a transaction then I’m sure they’ll accomplish their goal.  If there’s one thing I’ve learned in my 15 years of advising small businesses compared to my decade as an investment banker advising larger companies is that the deal market for smaller companies is a little more messy and much less structured.  Something the suits and ties don’t quite understand..”

“We’ve helped dozens of people buy small companies and I’ve bought and sold five companies personally,” said Jack.  “We understand what it takes to get a deal done in the small business world.”

Jack and Adam share a few war stories for deals where they helped an employee buy the business where he worked from the owner as well as a story of a client buying a competitor.  “What you won’t find in the HBR guide is the real reasons behind why people do deals, and it usually has very little to do with maximizing the selling price,” said Adam.  They also shared a story about a deal gone wrong that wound up on the auction block within 18 months.

If anyone in our listening audience would like to buy a little company, give Jack and Adam a call  (877-849-0670) and they will talk you through it because they know how to do it.

For more info on small business challenges tune into past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Do you have any How Questions of your own to email to Jack and Adam or any war stories on listening to a suit rather than working with an effective small business coach?  Do it by sending your questions to radio@maximumvp.com  or submit a question on their web site at  http://maximumvp.com/how/

If you have a success story or a question you would like to share, email or contact Jack and Adam directly at radio@maximumvp.com or 877-849-0670.

Remember…You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Dial  440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.

The post How Do I Do a Deal? appeared first on Maximum Value Partners.

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Big corporations really know how to make profits. Business owners for small business know how to make sustainable profits after mastering Maximum Value Partners 7 Keys to Success http://maximumvp.com/7-keys-to-success/.

On this week’s Dirty Secrets of Small Business hosts, Jack Mencini and Adam Sonnhalter share stories and insights of small business owners who are their clients every week on their radio show/podcasts. The stories come from the clients they have helped from their coaching business, Maximum Value Partners. (MVP) www.maximumvp.com

In this week’s July 5 episode of Dirty Secrets of Small Business aired at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM, the business coaches give an overview of What are the 7 Keys to Success? The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Adam starts the discussion talking about the founder of 1-800-Got-Junk who had a VISION, which is the first key in the 7 Keys. This owner realized that five or six years into his business, that 9 out of 11 people he had working for him did not really line up with his vision for the business. He did the hard task of firing the 9 people and went from having five trucks in his business to just one truck. By doing this and re-evaluating the team he needed and the vision he required for his team to engage in, it was in a very short time that the business began to flourish.

The second key is the PROFIT PLAN or How do I make money on purpose? Concentrate on making a profit plan rather than obsessing over a budget. Isn’t it more fun to be making money rather than always worrying about money going out of the business? It is also important to make sure you have the right people in the right jobs who are just as committed as you with a “can do” attitude that is in line with your philosophy for the profit plan.

The third key is the MARKETING PLAN- How do I know we are doing the right things to drive sales? Take a look at who your best customers are—the ones who pay on time and the ones who are helping you be profitable. Figure out how to target the same type of client again and again either through referrals and/or marketing tactics to get your business known with the target audience you want to turn into long-standing clients.

The fourth key is ORGANIZATION- How do I keep track of who is doing what? As a business owner, you need to have the right positions for your business with the right people in those seats. Nothing can derail your business faster if you have the wrong people not helping you move your profit plan along. Too many owners skimp on paying for good recruiters to find those people who will help make profits. Getting a person on the cheap who causes you to lose money is a recipe for failure. Invest in your business and your employees and this will help build your profit plan.

The fifth key is LEADERSHIP- How do I continue to develop as a leader? Leadership starts with you, as the owner. You’re THE MAN or THE WOMAN who will need to Plan, Direct and Control the business and all the details to make it profitable, sustainable and successful. Jack and Adam have advised thousands of small business owners to take command of their leadership position and also impart skillful delegation to their team so they can continue to concentrate on growing the business.

The sixth key is CASH FLOW FORECAST – How do I make sure we don’t run out of cash? Jack advises that every small business owner start with a 90-day cash flow report that turns out to be simple and fun with keeping a keen eye on positive cash flow every day for 90 days. For more info on how to make this happen, give Jack a call at 877-849-0670.

The seventh key is PRESENTING- How do I talk about my business so that everyone can understand? This often overlooked 7th Key brings it all together where instead of talking all about your products or services, you can finally talk business. You will be able to focus on the other six keys now that you have answers for them. This presenting can be anything from looking to bring on a new employee or going to the bank for financing and everything in between. An owner who can truly present the business is hard to resist!

For more info on small business challenges tune into past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/   or call Jack or Adam for help with your small business challenges at 877-849-0670.

Do you have any How Questions of your own to email to Jack and Adam? Do it by sending your questions to radio@maximumvp.com or submit a question on their web site at http://maximumvp.com/how/

If you have a success story or a question you would like to share, email or contact Jack and Adam directly at radio@maximumvp.com or 877-849-0670.

You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Or call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.

The post How Do You Get Better in your Small Business? appeared first on Maximum Value Partners.

The post How Do You Get Better in your Small Business? appeared first on Dirty Secrets of Small Business.

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Dirty Secrets of Small Business hosts, Jack Mencini and Adam Sonnhalter share stories and insights of small business owners every week on their radio show/podcasts.  The stories come from the clients they have helped from their coaching business, Maximum Value Partners. (MVP) www.maximumvp.com

Jack and Adam have personally owned and operated over 20 companies themselves and have helped hundreds of their MVP clients to become profitable, sustainable and successful in handling all the thorny issues of running a small business. They base their coaching on using the 7 Keys to Success http://maximumvp.com/7-keys-to-success/and cover many of the keys each week during their spirited discussions.

In this week’s June 28 episode of Dirty Secrets of Small Business aired at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM, the business coaches give a good back and forth on the how question of How do you define good customer service? The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Adam shared real-life incidents of good and bad customer service that he experienced over Father’s Day weekend.

“Eight of us went to a Saturday night Father’s Day celebration at a BBQ restaurant known for their variety of ribs,” said Adam. “The first challenge began when our young waitress said we couldn’t mix the variety of ribs on our individual orders and ‘oh by the way, we are out of baby back ribs.’

“We put in our orders and 20 minutes later she came back to say that they were out of some of the beverages we selected. We gave her different options and finally after a very long wait, 7 dinners came to our table. Unfortunately, mine was not one of them. After waiting another 20 minutes, my rib dinner finally was set before me and looked like they had experienced a charred inferno.

“When the waitress came to clear the plates, she asked if everything was OK and I calmly said that the ribs were over done and she explained the cook had taken a break and she would take it off our check.

“The manager never came over to apologize or offer any condolences with a free dessert, etc.  Not what I would call good customer service and we will never go back.”

Adam experienced a much different scenario the next day when he and his family went for a Father’s Day lunch where they had to wait an extremely long time for their meals.  The waitress apologized numerous times and when the meals arrived, she checked to see that everything was perfect. When the check came, she said that the manager would be taking care of all the meals and we owed nothing because they wanted to make sure we knew that this was a mistake on their part and wanted us to return.

Jack shared that good customer service comes from points of honesty, empathy and ownership when things go wrong.  If you, as a small business owner, are not the recipient of your vendors’ good customer service where they are honest when problems arise and are able to empathize and quickly take ownership of the problem, then maybe it’s time to make a change and find a new vendor.  The same points need to be focused on for your own business and how your customer service is professionally working for your clients. You may need a tune up and Jack and Adam can help you see where the issues are in your team to change and become a stellar provider of goods, services and excellent customer service.

For more info on small business challenges tune into past podcasts of Dirty Secrets of Small Business on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/   or call Jack or Adam for help with your small business challenges at 877-849-0670.

Do you have any How Questions of your own to email to Jack and Adam?  Do it by sending your questions to radio@maximumvp.com  or submit a question on their web site at  http://maximumvp.com/how/

If you have a success story or a question you would like to share, email or contact Jack and Adam directly at radio@maximumvp.com or 877-849-0670.

You can also call in during the show each week when you are listening on Wednesdays at prime time 7:30pm (EST) on WINT 1330 AM and 101.5 FM. Or call 440-946-9468 to ask your question to the Maximum Value Partners’ coaches or tweet your question to @MaximumVP.

The post How do you define good customer service? appeared first on Maximum Value Partners.

The post How do you define good customer service? appeared first on Dirty Secrets of Small Business.

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