In This Episode

During tonight’s show we were joined by Ken Fanger, co-owner of On Technology Partners (https://ontechnologypartners.com), a company focused on planning and strategic design when it comes to your technology.  Ken shared some of his early work experiences with bigger companies like BP and Ben Venue Laboratories and how that inspired him to do his own thing.

A big part of Ken’s story with On Technology Partners was how they basically reinvented their business which started out as a company focused on IT support and network services and then shifted to focus on planning and strategic design of that technology.  This shift was based on the discovery of how critical technology had become to their client’s success and they needed more help on the bigger picture strategic front vs. simply the day-to-day support of their technology assets. Ken also shared some nuggets he’s learned along the way, such as Always Be Wrong and Lay-off Employees Sooner vs. Later.

He is also a graduate of the Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/) and he shared with us some of his key takeaways from that program in our monthly Goldman 10 for 10 segment.  One of his key takeaways was he didn’t feel so alone any more as he saw people in his cohort facing the same challenges as he had.

People, Companies and Resources We Mentioned in the Show

On Technology Partners (https://ontechnologypartners.com)

Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/)

BP (https://www.bp.com)

Ben Venue Laboratories (https://www.cleveland.com/business/2015/11/closed_ben_venue_laboratories.html)

JumpStart (https://www.jumpstartinc.org)

R&K Electric (https://m.facebook.com/pages/R-K-Electric/158913390797905)

People of Substance (http://peopleofsubstance.net/)

The post How Do I Reinvent My Business, Ken Fanger of On Technology Partners? appeared first on Dirty Secrets of Small Business.

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One of the things we love the most about small business is that it’s much easier to find a “heart” in a small business.  People really know each other and care about each other. That includes employees as well as customers and vendors. It can become an extended family.  But that’s also one of the challenging things about small business. Especially when it comes to parting ways with an employee, in particular a long-term employee.

So what options do you have?  It depends what category the person falls into.  Short-term employees can be short and sweet. But if they’re a longer-term employee, especially one who has been a key person in the business.  Or if they actually are friends or family outside of the business setting. That “heart” can often get in your way when making a decision for your business.  Or not making a decision.

During tonight’s show we shared lots of stories about our personal experience and those of our clients and how they worked their way through some of these tough people decisions.  Whether the company has outgrown that employee or if they’ve made some costly mistakes or they’re poisoning the other employees with their attitude or anywhere in between, we’re sure you’ll find tonight’s episode helpful!

People, Companies and Resources We Mentioned in the Show

Office Space (https://www.imdb.com/title/tt0151804/?ref_=tt_ch)

Neil Sedaka, Breaking Up Is Hard To Do (https://en.m.wikipedia.org/wiki/Breaking_Up_Is_Hard_to_Do)

Depend (https://www.depend.com/en-us/)

An Officer and a Gentleman (https://en.m.wikipedia.org/wiki/An_Officer_and_a_Gentleman)

Debbie Downer (https://en.m.wikipedia.org/wiki/Debbie_Downer)

Roadhouse (https://en.m.wikipedia.org/wiki/Road_House_(1989_film))

Goodfellas (https://www.imdb.com/title/tt0099685/)

The post How Do I Fire An Employee? appeared first on Dirty Secrets of Small Business.

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In This Episode

What does a successful organization look like?  Is your organization successful? Is it set up for growth?  How do you know?

If you’re like most small business owners, you have no idea how to answer this.  In fact, most small business owners have no idea what I’m talking about! Well it all starts with your Functional Organization Chart.  And no, this is not the typical Org Chart you may have put together a few years or decades ago.

It’s time to get your Organization ready for growth and success.  In tonight’s show we provided some examples of the power of getting your Functional Org Chart pulled together.  How it can do things like help you offload things from your plate, onboard new people, and realizing just how much of a difference one good person can make to your organization!  How do you know what that next hire should look like and what they should be doing to help your Organization? If you don’t have your Functional Org Chart down it’s going to be tough to keep it all straight!

People, Companies and Resources We Mentioned in the Show

Office Space (https://www.imdb.com/title/tt0151804/?ref_=tt_ch)

The post How Do I Know If My Organization Is Set Up For Success? appeared first on Dirty Secrets of Small Business.

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In This Episode

During tonight’s show we were joined by Joni Fedders, President of Aileron (www.aileron.org), a non-profit with the goal of helping private business owners like you find greater success.  Joni was also a business owner prior to joining Aileron and had some fun and helpful stories to share (does worrying about making payroll or losing your house resonate)!

Some of the topics we covered included the shift from the for-profit world to the non-profit world, the emotional parts of business especially when it comes to the people, and how Joni flipped from swearing off business partners after a bad experience to now being an advocate for partnerships!  

Joni also touched on a couple of key things that have lead to the success of Aileron which includes having more of the for-profit mindset vs. non-profit as well as focusing on the “community” of small private businesses.  Giving owners who are feeling lonely a place to go.

People, Companies and Resources We Mentioned in the Show

Aileron (www.aileron.org)

Scrooged (https://www.imdb.com/title/tt0096061/)

The post How Can Small Private Business Owners Find Help, Joni Fedders of Aileron? appeared first on Dirty Secrets of Small Business.

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In This Episode

During tonight’s show we had the honor of being joined in studio by Michael Robinson of Rust Belt Riders (https://www.rustbeltriders.com).  He shared his story about moving to Cleveland to start a business with a local partner.  Part of his story is how the city has embraced him and his company. Michael shared with us what Rust Belt Riders is doing to reduce the amount of food going into landfills.

He is also a graduate of the Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/) and he shared with us some of his key takeaways from that program in our monthly Goldman 10 for 10 segment. One of his key takeaways was how important it was to work on vs. in the business.  The way the program is set up forces the business owner to be away from the business for at least a day per week for three months.  Michael realized that he could step outside the business for a day per week especially when roles within the business were well defined.  He also appreciated having the outside perspective of his fellow classmates and advisors.

People, Companies and Resources We Mentioned in the Show

Rust Belt Riders (https://www.rustbeltriders.com)

Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/)

Tilth Soil (www.tilthsoil.com)

The post How Do I Build A Business In A New Town, Michael Robinson? appeared first on Dirty Secrets of Small Business.

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In This Episode

Something most small business owners don’t do well is share information with their team.  It’s not their fault as most small business owners don’t understand why they should share certain information.  In fact, decades ago you’d be hard pressed to find any small business owner sharing information with their team.  “They should be glad they have a job,” was a common refrain.

During tonight’s show we share not only the “Why” for sharing information about your company but also talked about “What” to share, “How” to share it, as well as “Who” to share it with.  If you’re able to get past the why part then you’ll find out that we recommend that you share everything with your team…except what people make in terms of compensation. We like to keep things simple and go with our 7 Keys to Success when figuring out what to present.

As you might already appreciate, it’s certainly important to understand what you should be sharing but it’s also key how you share it as well.  Hint, sharing a bunch of detailed numbers or overloading people with a 50 page slideshow is not a good way to go. Initially, it’s also not a good idea to have other folks leading the sharing, it should be you as the business owner leading the way.  On the who front we gave examples of sharing with your team, vendors, and customers. The message for each audience should be tweaked.

If you’re looking to get the most out of your team and ultimately your company, properly sharing your company’s info might be the key next step you need to take.  Only one way to find out, enjoy the show!

People, Companies and Resources We Mentioned in the Show

Blind Men and Elephant (https://en.m.wikipedia.org/wiki/Blind_men_and_an_elephant)

Keebler Elves (https://www.keebler.com/en_US/all-about-the-elves.html)

The post How and What Should I Share About My Business? appeared first on Dirty Secrets of Small Business.

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In This Episode

As a loyal listener to Dirty Secrets of Small Business, you’ve heard us talk about how we’ve been business partners since 2003.  And we often say that our business partnership has lasted longer than most marriages.  So are we just one of the lucky ones?  Like those couples who celebrate their 50th wedding anniversary while others are on their third marriage?

So during tonight’s show we delved into why so many business partnerships get a bad rap.  If you’ve been in a business for a while or know someone who has, chances are you’ve heard all kinds of business partnership horror stories.  I’m sure you’ve also heard some good stories about business partnerships and tonight we shed some light on what makes for a good partnership and provided some suggestions for what not to do in a partnership.  As I’m sure you can appreciate, knowing what not to do can often be more important than knowing what to do.

In addition to our current business partnership and some of our prior experiences, we also drew from several dozen clients we’ve had over the years where there were some truly stellar partnerships and ones that needed a little more work.  Perhaps the most important part of the foundation for any relationship (business or personal) is the “T” word…trust.  How do you earn it, keep it, and not abuse it?  How do you know if your partnership material?  Are you willing to accept your partner’s shortcomings?  Do you like to keep secrets?  Are you looking out for your best interest or that of the organization?

We hit on these topics and many more in tonight’s show.  If you have some stories you’d like to share with us, shoot us an email at radio@maximumvp.com to let us know the details!

People, Companies and Resources We Mentioned in the Show

• Family Man (https://en.m.wikipedia.org/wiki/The_Family_Man)
• Rap sheets (https://www.merriam-webster.com/dictionary/rap%20sheet)

The post How Come So Many Business Partnerships Get Such A Bad Rap? appeared first on Dirty Secrets of Small Business.

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In This Episode

So tonight we talked about something that can be pretty painful to any business owner…losing a big customer.  When we talk about a big customer, we’re talking about someone who represents 20% or more of your sales. Which most likely also means more than 20% of your profits going away.  You’ll be hard pressed to find too many business owners who are trumpeting the day they lost a big customer, but we know that most of us business owners have been there.

If you’ve ever experienced this type of body blow (or insert any other boxing or MMA reference) then you know how devastating it can feel in the moment.  And the “hangover” effect can be tremendous if you don’t find a way to move forward. During the show tonight we shared several client stories where they lost a big customer and what they did to recover, survive, and eventually thrive!  

There is a way to get yourself out of the hole.  Start with a tourniquet then regroup and finally do an autopsy.  Sound morbid? Take a listen to the show and see what the heck we’re talking about!

People, Companies and Resources We Mentioned in the Show

Quincy Jack Klugman (https://en.m.wikipedia.org/wiki/Quincy,_M.E.)

Fletch (https://www.imdb.com/title/tt0089155/)

The post How Do I Rebound From Losing A Big Customer? appeared first on Dirty Secrets of Small Business.

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In This Episode

Over the past couple of weeks, Jack and I have been introduced to several graduates of the Goldman Sachs 10,000 Small Business Program.  The purpose of meeting these folks is to get to know them a bit and see if they are a fit for our monthly Goldman 10 for 10 segments. But as is often the case, we had some aha moments after meeting with these folks.  We saw certain commonalities around each of them truly respecting what they don’t know.

Why would someone be part of something like the Goldman Sachs 10KSB program and also be part of a 20 Group or EO or another peer group?  And still others who go for more intensive 1-on-1 coaching? One of the things we have found is that if you’re truly curious and like to learn, you are always open to learning more things and getting better.  Books, seminars/workshops, field trips, peer groups, 1-on-1 coaching, etc. They’ll try just about anything they think can help them.

Who do you have that you speak with on a regular basis who relates to you?  Who relates to the challenges, opportunities, and struggles that you face on a daily basis?  Usually it’s not your spouse, or sibling, or neighbor. Even though they’re smart and well intentioned.  Certain things, only those folks who have been there and done it can truly relate to you. If you don’t have someone or a group of someones to speak with about your business, start looking or keep looking!

People, Companies and Resources We Mentioned in the Show

Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/)

Wild and Crazy Guys from SNL (https://giphy.com/gifs/snl-saturday-night-live-1970s-l2SpOk4GCaAtbKlRS)

E-Myth Revisited (https://www.goodreads.com/book/show/81948.The_E_Myth_Revisited)

Vistage (https://www.vistage.com)

The Atlternative Board (https://www.thealternativeboard.com)

20 Groups (https://www.ncmassociates.com/services/20-groups)

EO (https://www.eonetwork.org)

The post How Do You Know What You Don’t Know? appeared first on Dirty Secrets of Small Business.

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In This Episode

So Jack and I were chatting about some of our clients recently and we started to get a little heated about frustrations we were having.  As we continued to chat we started to realize that the problem was that many of our business owner clients were spending time talking about symptoms vs. problems.  The visual signs vs. the true cause.

The Dirty Secret we discussed during tonight’s show is that too many business owners (and leaders) spend too much time focused on trying to solve symptoms vs. problems.  Unfortunately solutions only work to fix problems not symptoms. During our show we gave several examples of clients who were dealing with things like high turnover or too little cash in the business.  These and many other symptoms might be disguised as problems but in reality they aren’t the problem at all. Which is why the symptom keeps coming back.

Confused yet?  Well, take a listen to this week’s show and hopefully our diarrhea example will provide some clarity for you on the symptom vs. problem situation.  That way we can all spend more time working on solutions to actual problems vs. continuing to address the symptoms of those problems!

People, Companies and Resources We Mentioned in the Show

Peter Principle (https://en.m.wikipedia.org/wiki/Peter_principle)

Shameless (https://www.sho.com/shameless)

Cleveland Browns (https://www.clevelandbrowns.com)

The post What’s Your Problem!?!? appeared first on Dirty Secrets of Small Business.

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