In This Episode

We covered a couple of different topics in tonight’s show including common myths about older folks looking for jobs: i) I’m not going to find a good job, ii) You can’t take time off or you’ll never get back into the workforce, iii) I’m not going to make as big a contribution as I did in the past, iv) Only type of work available is part-time, and v) Chance to be an entrepreneur has passed me by.  This was from an article by Anne Tergesen in the Wall Street Journal back in November 2016.

We also talked about more recent examples of political correctness and how it continues to hurt America.  The latest examples involve a tweet by Roseanne Barr and employees of Starbuck’s kicking out a couple of people who were loitering in their store and refused to buy any of their products.

With the continued proliferation of social media and 24/7 news coverage, companies are now taking the tactic of making major decisions in public and in short time frames where it would be best to take a little more time to look long-term at the results of their decisions.  If we all have to be afraid of offending someone, we’ll likely lose the ability to debate issues and resolve our conflicts.

People, Companies and Resources We Mentioned in the Show

• R.R. Reno at FirstThings.com and article “Against Princeton” (https://www.firstthings.com/web-exclusives/2017/11/against-princeton)
• 5 Myths About Landing a Good Job Later in Life by Anne Tergesen (originally in Wall Street Journal) (http://blog.cordantwealth.com/five-myths-about-landing-a-good-job-later-in-life-infographic)
• Shawshank Redemption librarian character Brooks Hatlen (http://shawshank.wikia.com/wiki/Brooks_Hatlen)
• Cousin Eddie from Christmas Vacation (https://www.imdb.com/title/tt0097958/characters/nm0001642)
• Roseanne Barr (https://en.m.wikipedia.org/wiki/Roseanne_Barr)
• Disney/ABC (https://en.m.wikipedia.org/wiki/Disney–ABC_Television_Group)
• Starbuck’s Sensitivity Training (https://www.usatoday.com/story/money/business/2018/05/29/starbucks-closure-racial-bias-training-tuesday/650316002/)

The post How Do You Deal With Fancy Pants People, Land A Job Later In Life, and Respond to Political Correctness? appeared first on Dirty Secrets of Small Business.

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In This Episode

We’ve all been there with our business.  Whether it’s due to tremendous growth, the departure of a key person, or you’re just simply struggling to get everything done.  How do you know it’s time to add someone to your team?  It’s something we’ve all struggled with.  One of the biggest reasons is that it’s going to hurt the pocketbook in the short-term.  You also won’t likely save time initially as you will have to train that new employee to get them up to speed.  It’s key to think longer term in these situations.

Sometimes it’s not so obvious when the time is right to hire someone.  For instance, a good person might simply present themselves as being available.  And you feel you’re not quite ready yet.  We usually advise our clients to take the leap and hire that good person because they will add value to your business.

Like many things in life, the timing never seems quite “right” to hire someone.  I mean, you’re kind of used to the current pain you’re in so why risk bringing someone on who will give you some hope and relief only to find out they’re the wrong person?  The biggest gating item to growth of your small business is finding the right good people to help.  One good person can be the difference between staying where you’re at and doubling the business.

If you’re comfortable where you and your business are at there’s no need to hire someone.  If you’re not so happy about things, a new good person with energy and ideas and experience that you don’t have might be just what the doctor ordered to help push your business ahead.  We share lots of these stories during tonight’s show of our business coaching clients who exploded after bringing on a few of the right people.

People, Companies and Resources We Mentioned in the Show

• Oprah Winfrey Show (http://www.oprah.com/app/the-oprah-winfrey-show.html)
• Crystal balls (https://en.m.wikipedia.org/wiki/Crystal_ball)
• Weird Science (https://www.imdb.com/title/tt0090305/)
• Lisa Holly of Berea Moving and Storage (http://maximumvp.com/lisa-holly-president-ceo-of-berea-moving-and-storage/)
• Tom Brady and Bill Belichick and New England Patriots (https://www.patriots.com)

The post How Do You Know It’s The Right Time To Add Employees to Your Business? appeared first on Dirty Secrets of Small Business.

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In This Episode

If you’ve been in business for a while, chances are you’ve gotten some unsolicited phone calls, emails, and/or letters from folks inquiring about potentially purchasing your business.  So what do you do with these inquiries?  Depending how your day is going will often determine your reaction to these.

We have helped hundreds of clients through situations like these and the bigger question of how do you know it’s time to sell your business?  Each situation is unique, but the questions you should be asking yourself are the same.  These include:

• Why do I want to sell?
• What will I do next?
• What’s the company worth?
• What do I say?
• What shouldn’t I say?
• Can I work for someone else after being the boss?
• What will happen to my employees?
• How do I know what to present to a potential buyer about my company?
• Should I officially put the company “up for sale”?

In tonight’s show, we share answers to these questions by sharing several stories of clients of ours who we’ve coached through this process.  Some decided to sell.  Some didn’t.  Listen to tonight’s show to find out why!

People, Companies and Resources We Mentioned in the Show

• Shark Tank (http://abc.go.com/shows/shark-tank)
• ROMEO Groups (Retired Old Men Eating Out)
• Duets (https://en.m.wikipedia.org/wiki/Duets_(film))
• Business Valuation Rules of Thumb (https://www.amazon.com/Business-Valuation-Rules-Formula-Resource/dp/097213302X)

The post How Do You Know It’s Time To Sell Your Business? appeared first on Dirty Secrets of Small Business.

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In This Episode

Over our 15+ years as business coaches, we’ve worked with hundreds of business owners and met with thousands more.  When we are meeting with a new potential customer, the business owner will sometimes involve their spouse in the discussions (whether that spouse is an employee or not).  But when we meet with the owner of a technology company it’s about 100% guaranteed that we will meet the spouse as part of the process.  Why is that?

Jack and I have had versions of this discussion numerous times over the years and decided to share some of our insights during tonight’s show.  We talk about reasons why the spouses seem to carry an inordinate amount of influence when it comes to owners of IT companies.  It’s all done for good reasons and with the best of intentions.  We also share some strategies for how the technology company owner can harness that influence to supercharge the success of their business.

Technology company owners are some of our favorites clients.  Our experience has shown them to not only be wickedly smart and curious, but also some of the most kind and caring people who do business the right way.  It’s often the people side of the business, everything from employees to customers to vendors, that leads to the frustrations and potential struggles.  We get IT business owners and this show is for you!

People, Companies and Resources We Mentioned in the Show

• Revenge of The Nerds (https://www.imdb.com/title/tt0088000/)
• War Games (https://www.imdb.com/title/tt0086567/?ref_=fn_al_tt_1)
• Real Genius (https://www.imdb.com/title/tt0089886/?ref_=fn_al_tt_1)
• Animal House (https://www.imdb.com/title/tt0077975/?ref_=fn_al_tt_1)

The post How Do You Harness The Power of Your Spouse For Your Technology Business? appeared first on Dirty Secrets of Small Business.

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In This Episode

The majority of our business coaching clients have some sort of family (or close friends who are like family) that are part of their business.  And many of these business owners talk with us about bringing other family members or friends into the business.  The most common are children, spouses, and siblings.  Our initial reaction to this discussion is to advise our client to not do it.  They are often surprised by this guidance.

We usually start with a “no” because we want to make sure that this close person is really the best person for the job.  There are a lot of perceived and real negatives that come with bringing these close folks into the business.  Not the least of which is that these new people have a lot of influence on the owner of the business and a lot of additional access than most other employees.  This is due simply to their relationship to the owner vs. something they’ve earned.

We recognize that many owners have a dream of creating and growing a business to turn over to their kids.  While this is a great idea and goal, we often pull the reigns in on our clients to slow them down and make them think long and hard about whether this is truly what’s best for the business and the family.  A lot of unintended consequences come from bringing family and close friends into the business.  Not the least of which is you make it difficult to get away from your business because the closest people in your life are now also in your business.

On tonight’s show we share a lot of stories of our coaching clients who have brought in and are struggling to eject family members and still keep the family together.  There’s a lot of undue pressure on the owners as part of this process.  But don’t worry, you’re not alone!

The post How Do You Keep the Family Together? appeared first on Dirty Secrets of Small Business.

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