Probably some of the toughest situations to deal with in having your own business involve making changes to your team, especially when the person is your relative or possibly… your mother.  Small business coaches Jack Mencini and Adam Sonnhalter, who are also co-hosts of Dirty Secrets of Small Business, discuss the very difficult situation of having to fire your mother in this week’s show.

We believe it’s never the desire of the children to disrespect mom and that mom really doesn’t want to get in the way, but often mom doesn’t quite know how to bow out gracefully.  As a transitioning business owner, it’s tough to give up being in charge and it’s also hard to let your children make their own mistakes in the business. You have to fight that natural parental instinct to protect both your children and your business.

One of the best ways to take some emotion out of a situation like this is to ask the simple question of “what’s best for the organization?”  You’d be amazed at how often the cloud lifts and the answer appears when you’re struggling with what to do in a tough situation.  Now the challenge becomes making the decision to execute on that decision.

As you might imagine, this topic of “firing your mother” doesn’t come up in a situation where everyone is getting along and in agreement for what is best for the organization.  So when’ it’s gotten to this point, here are a few options to consider to get the business unstuck from this very delicate situation:

• Pay your mother to stay away: this is as simple as it sounds where you literally continue to pay your mother whatever you were paying her when she was working in the business with the caveat that you don’t want her to come to work any more. If she steps foot back in the company then the payments will stop.
• Offer a buyout: one sure way to rid the company of your mother is to buy her out which would then put you in full control. Putting together an offer to buy her out might just do the trick.
• Prepare for your own exit: if you can’t get your mom to agree to either of the above, then you might have to threaten to leave the business yourself. This option only works if you are integral to the business AND you are actually willing to leave.  Don’t go down this path unless you are truly ready to walk out.
• Take her to court: this brings back images of Judge Wapner from People’s Court, but if you can’t negotiate another option, the last one would involve getting the lawyers involved and using the legal system to your advantage and make your case to an impartial 3^rd party (just like Wapner!).

Another topic that is covered in this week’s Dirty Secrets of Small Business is How do I know if I am an entrepreneur? Tune in to this week’s podcast to see if you measure up as an entrepreneur.

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) or tweet your question to @MaximumVP. 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.

If you have a success story or a how question you would like to share, submit a question on their web site at  http://maximumvp.com/how/, send an email to radio@maximumvp.com or contact Jack and Adam directly at 877-849-0670.

The post How do you fire your mother? & How do I know if I am an entrepreneur? appeared first on Maximum Value Partners.

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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.

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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.

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As a small business owner, you probably have a team of advisors that include a CPA, insurance agent, lawyer, banker and perhaps a marketing guru.  Some of these advisors are a necessity in the United States economic environment where regulatory laws demand that you run your small business legally and adhere to compliance regulations (e.g. pay taxes).

Jack Mencini and Adam Sonnhalter, coaches to small business owners, and as owners themselves with Maximum Value Partners, www.maximumvp.com, tackle this somewhat perplexing How Question this week on: How do I know if I have good advisors?

In this week’s June 21 episode of Dirty Secrets of Small Business aired at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM, the business coaches get fired up on how to determine if you have good advisors or are just putting up with them because you have to. The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

Jack states his opinion that many advisors, especially lawyers have what he has defined as a “misallocated arrogance.”  It’s almost like they are doing you a huge favor by even answering your phone call or taking the time 5 days later to return your call.  Adam also has a short fuse for any advisor who can’t return a client’s call within 24 hours. “In this day and age of cell phones, texting, etc., why is it that some advisors ignore their clients for days on end. There is really no excuse for this lack of responsiveness,” said Adam.

In trying to determine if you have good advisors for your small business, consider these five areas to rate them:

1. How responsive and available are your advisors? Do they get back to you quickly or at least in 24 hours?
2. Do they look out for your best interest?

Adam shared the story of one client who went to his banker asking for an additional business loan. You won’t believe what this banker did for our client who wasn’t a customer of his!  Get the full story on the podcast.

3. Are your advisors honest with you?

Most business owners are surrounded by too many “yes people” who never tell the owner the way things really are for fear of upsetting the person who signs their check.  This “yes person” disease can often infect advisors as well.  If your advisors haven’t upset you recently, chances are they might not be the right advisors for you.

4. Does your advisor present you with solutions or problems?

As a business owner, chances are you have enough people in your world who present you with problems.  Advisors shouldn’t be one of those people.

5. Do they really listen to you?

When’s the last time one of your advisors presented a solution that didn’t involve their services or a financial benefit to them?

If you find yourself not giving a very high rating to your advisors after going through these five points, maybe it’s time to give Jack and Adam a call.  They are well connected to many of the advisors you need who will have your best interest at heart. From coaching small business owners for over 15 years and having had dozens of their own businesses and advisors, the Maximum Value Partners are in tune with introducing you to advisors who will really be your partners on your journey of continued sustainable profits and success. In many instances, Jack and Adam become your most trusted advisors in being there for you 24/7 with sound advice and great solutions to all your How Questions.

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 I know if I have good advisors? appeared first on Maximum Value Partners.

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It’s a challenge for any business owner when you have an employee who isn’t quite doing the job that they should or it just seems like this individual just doesn’t seem to fit into performing and meeting the responsibilities of the position. There is a huge added level of challenge in what needs to be done to come up with a solution when the person who doesn’t fit anymore is a family member who has been working in your business.

Jack Mencini and Adam Sonnhalter, coaches to small business owners, and as owners themselves with Maximum Value Partners, www.maximumvp.com, tackle this How Question:  How do you deal with a family member who doesn’t quite fit into your business? In this week’s June 14 episode of Dirty Secrets of Small Business aired at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM. The podcast is available on iTunes or http://maximumvp.com/dirty-secrets-small-business-radio-show-podcast/

The show and their business are aimed at an audience who either owns a small business or someone who is thinking of starting their own small business. Jack and Adam help these entrepreneurs on a path to fun and success. They define success as growing sustainable profits.

In discussing this week’s dilemma of a family member who doesn’t quite fit in, Adam offers 2 things not to do and 3 things to do to deal with the situation.  First what not to do:

1. Keep things as is or in a “status quo” position. This is often referred to as imitating an ostrich with your head in the sand and pretending that the situation isn’t that bad or somehow will miraculously fix itself.
2. Let someone else decide for you. As we jokingly tell all of our business owner clients, that is why you get paid the big bucks!  To have difficult discussions like this.  Don‘t pawn them off on someone else, especially when you‘re the one who can fix this problem..

The 3 things you can do would be to center on removing the person from the work environment (without having to fire them).

1. Pay them to stay home and not come to work. As silly as this might sound, it is a proven strategy we have seen work for all kinds of family situations. The business owner has to view this as addition by subtraction and doing what is best for the company. In these situations, there is little doubt that the individual needing to leave has significantly affected the culture and productivity of his/her co-workers. As the owner, are you willing to see your talented employees, who are helping the business be successful, start to leave because they can no longer deal with the relative who is bringing everyone down?
2. Make the relative quit. This is a strategic move on the owner’s part to do this in such a way that the decision comes from the relative and does not look punitive. Remember, you may still be passing the turkey platter to this person over Thanksgiving.  One way to make this happen is bring someone else in to manage that relative so they no longer report to you.
3. Find somewhere else for the person to work by using your professional network or through one of your contacts. This is probably the best of all possible options if this family member has marketable skills in other areas, but just didn’t work out for your business. It becomes a win-win situation for everyone and helps maintain both a professional relationship and family cohesiveness where no one feels like the victim.

Jack and Adam also discuss the topic of how they will always strongly caution new businesses on wanting to bring on family members to fill the positions.  It has been their experience that more often than not, working with spouses, siblings, cousins, children, aunts and/or uncles, etc., in a professional setting causes tremendous stress for the family unit. Knowing how to hire good talent is one of the many areas that these business coaches can help small business owners make the right decision to avoid having to fire employees when they realize that person was not a good fit…thus avoiding having to deal with the current how question!

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 deal with a family member who doesn’t quite fit into your business? appeared first on Maximum Value Partners.

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Jack Mencini and Adam Sonnhalter would like to rid the business world of the word:  Budget. The budget mind set creates a vision of Jack Nicholson in a straightjacket when he starred in the movie, One Flew Over the Cuckoos Nest. Just like Jack Nicholson’s straightjacket, these small business coaches for Maximum Value Partners (www.maximumvp.com) feel that a budget binds you and is an old, dusty accounting term that has so many negative connotations.  They like the word: PROFIT Plan.  Isn’t profit so much more exciting to think about than spending (or not spending) money?

In this week’s episode of Dirty Secrets of Small Business at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM every Wednesday, the cohosts of the show, Jack and Adam tackle this How Question How do I get rid of a budget mind set?

As an example, Adam tells the story about one of their clients, “Bill,” who before owning his own business worked at a government agency. Bill was really excited one day when he went to his boss with the great news that he found a way to save his department $70,000 dollars in their budget.  Bill had outlined his research and due diligence for how to go about saving the $70K and had all the info in a file folder he handed to his boss. Rather than being overjoyed with this news, his boss pushed the folder away and told him that he should find a way to not only spend the $70K in savings he found, but find an additional $100,000 to spend, otherwise they would lose the money for the next budget.  Bill couldn’t believe his ears, but he did as he was told and it wasn’t too long after that when he decided the politics of dealing with budgets was not for him and went on to launch his own business to concentrate on a Profit Plan.

Having a profit mindset means that you don’t spend yourself out of business. Profit means looking for ways to make more money. Profit makes everything go to keep the lights on, meet payroll, keep inventory, create sustainability for the company and support the community.

Jack gives the overview that you have to have a plan to make money on purpose. If you start doing things differently with no plan in place, the small business owner won’t know what to do. Pulling together the first draft of your Profit Plan begins with answering 2 questions:

1. What do I want my company’s sales to be for the coming year?
2. How much do I want in profit/net income/the bottom line?

If you start with putting these two stakes in the ground, you can then go about the business of filling in the details in between which consists of all your expenses.  Our business coaching clients are often amazed at how quickly they can pull together their first Profit Plan.  They almost get giddy when they present it to us. Dedicate your plan to figuring out how your company is going to make money on purpose not solely on how to squeeze your expenses even lower which is the budget mindset.  Your Profit Plan can be very exciting in having an “Abundance Mindset” rather than being straightjacketed by the “B” word.

Jack and Adam also discuss the topic of how to bring on a new hire and having to add to the salary pool and additional payroll. Will this person, over time and in the future, be part of the profit structure in bringing in more sales, more business and more cash? Having a plan and a profit mindset will open up the opportunity to bring on the talent to have your business be profitable.

For more info on small business challenges tune into this week’s June 7 podcast 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 I get rid of a budget mind set? appeared first on Maximum Value Partners.

The post How do I get rid of a budget mind set? appeared first on Dirty Secrets of Small Business.

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Are you living the dream of having your own business?  Or are you thinking of taking the leap and starting your own business?  You probably have a tremendous amount of How Questions:  How do I get funding? How do I hire good employees?  How do I get clients and keep clients?  Jack Mencini and Adam Sonnhalter, the “Unstuckers” and the small business coaches from Maximum Value Partners (www.maximumvp.com) get owners unstuck from the state of HOW! (How questions are those questions that perplex small business owners day in and day out.)

In this week’s episode of Dirty Secrets of Small Business at 7:30pm (EST) on WINT Radio 1330 AM and 101.5 FM every Wednesday, the cohosts of the show, Jack and Adam tackle another How Question:  How do I stay focused when my personal life is in a state of flux?

Back in the day when you probably had a job for a company who made the rules, told you what to do or gave your expectations of what they wanted you to do on your job, the 24-hour day was probably 8 hours at work, 8 hours relaxation or at home and perhaps, 8 hours of sleep.  If you are a small business owner, the lines between these three segments are often blurred and you will find yourself thinking non-stop about business during your 16 hours of wakefulness, and you might even be having dreams or nightmares about your business when you are sleeping.

“Don’t feel guilty if you are thinking about your business or doing your business all the time,” said Jack. “Your family or friends are probably looking for the switch on your body to have you turn off always thinking or talking about the business. There isn’t the switch to turn off your thoughts and good business owners probably wouldn’t want to because that is what makes you successful.”

There are times throughout your life as a small business owner that you need to keep that focus sharp even if your personal life is having challenges.  Adam offers some insights on how to get back on track:

• Take a day off to be with your kids or your significant other by going for a walk or hike or even just sitting down and catching up with them to see what has been going on in their world.
• Look around your office and have a morning, afternoon or even a whole day just to purge the old files or reorganize the piles of magazines and books that date back three years. You will be surprised on how good you will feel if you have made a clean sweep of all the stuff that has been piled on that office chair no one can sit on.
• Hit the gym or get on the bike and exercise until you build up a good sweat. You will be amazed how that will clear your head and even give you more energy to be focused.
• If the personal issue doesn’t seem to have a resolution from you just battling it in your head, reach out to a good friend or mentor and over coffee ask for their advice. Another viewpoint from someone you trust might help you see a solution you hadn’t even considered.
• Change your routine of taking the same route to your office. How many times have you ended up at work or even going back home and it was almost like you were on autopilot and in another zone unaware of how you got to your destination. If you take another route, you are training your brain to be more focused and be open to new answers.
• While you are taking that new route home, try listening to a podcast on a topic you are interested in or by someone motivational that you find interesting.

In addition to this How Question, Jack and Adam give insights into how to deal with a difficult person who seems to suck the oxygen out of the room the minute they enter with their negativity and the “in-your-face” attitude.

For more info on small business challenges tune into this week’s May 31 podcast 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

The post How do I stay focused on my business when my personal life is in a state of flux? appeared first on Maximum Value Partners.

The post How do I stay focused on my business when my personal life is in a state of flux? appeared first on Dirty Secrets of Small Business.

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