Scaling the Business
A Tale of Two Dogs – Part 2
Part 2 of dumb dog smart dog and how it applies to scaling your business
November 22, 2022
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Part 2 of dumb dog smart dog and how it applies to scaling your business
Ever consider dogs and what they can teach us about growing a business? And no, I’m not talking about going on the rug… or being so excited to see you as you walk in the office that they want to jump on your leg.
It’s about team.. it’s about fit..
and it’s about your freedom to grow your business without being stuck inside.
It is easy to convince business owners about the value of delegation and mentoring. Showing them and training them how to do it is the challenge.
We do it by setting the correct example, imparting the beliefs, and passing the knowledge on to others patiently.
Set high expectations and be clear about what needs to be done and provide adequate support.
Do these and you gain a freedom and a business that is much more valuable than you can possibly imagine.
Fun story from my childhood about mentoring. I’m mentioning it because there are some lessons in there that you can apply when delegating.
Many of us delegate by throwing the cat into the deep pool and letting it swim technique… and of course the cat drowns…
There is a better way.. and many of us have already experienced it in our lives as I did in this instance… and it’s lessons we can pass on..
We all want to live our lives and not be at the mercy of a boss, but owning a business and working for yourself often means having no free time. It feels like you’re always working, with obligations that take up your whole day from morning until night – even when you’re at home!
There is an easier way!
With these three steps, owning a business becomes more enjoyable, as we free up our time and build wealth on top of everything else…
Have you ever tried to explain yourself to someone who is hard of hearing and refuses to do anything about it? Do your customers feel that way when they speak with you?
As a business owner, you wear a lot of hats. You’re the CEO, the CFO, the janitor, and everything in between. It’s a lot of work, and it can be frustrating at times. Here are the most common 5 frustrations I hear—and the solution that solves them all…
When the economy takes a turn for the worse, business owners’ first instinct is to cut costs. They’ll slash prices, fire staff, and skimp on quality to try and preserve their profits.
They think they can keep profits the same even with lower revenue by reducing costs and slashing prices to increase volume.
In almost every case, they’re wrong.
Too many companies nowadays treat customer service as an expense, not the investment it is. They’ll roll out the red carpet for you when they’re trying to sell you something, but once you’re a customer, they couldn’t care less about you.
How do you go from Risky Business to a Business where you don’t have to be there every hour of the day?
As a business owner or CEO, you can’t be everywhere at once. You have to trust that your employees will do their jobs and not party like it’s 1999 (or 2022). But how do you make the leap from risky business to hands-off business? Here are four tips to get you started.
Do you hate turning away customers because you are just too busy to handle the ones you have? Would you like to scale but have a budget that is too tight to do so?
Some quick basic steps can help you start scaling and generate the cash flow you need to make the necessary investments to really take your business to the next level.
Do you ever feel like you’re being pulled in a million different directions? That you can’t possibly take on any new business because you’re already stretched too thin?
It’s so easy to chase the latest shiny object. This includes using “powerful” marketing and persuasion principles, but doing it the wrong way. Basically, you need to deliver what you promise…
Don’t catfish your customers…
Cheap Customer Service doesn’t save you money.. It costs you current and future earnings at multiples much higher than the small margin you save by shortchanging the most important facet of your business.
10 pretty simple steps on the surface but which can help you scale and free your business from relying on you, and so allow you to get your life back.
Building and selling a business requires two types of discipline: 1) Focusing on your niche to build an independent, scalable and successful company, and 2) Focusing your actions and decisions on those that build the most valuable and least risky asset. The type of asset a future buyer would pay the highest money to acquire.
Before looking to sell your business, have you considered the mental, financial, and business readiness that will determine if you get the full price, half or nothing?
After a frustrating low valuation, Laura Steward executed a simple 3 step program to introduce recurring revenue and step back from day to day sales. As a result, she sold her company two years later for 4x the original valuation price.
After doing the hard work of winning customers, how you onboard them will determine if they stick around.
Forgetting or overlooking cash flow is not only a risk to the viability of your business, but can often reduce the value of your business. Instead if you can drive up your cash flow you will often drive up the value of your business and reduce your stress in the process.
Many owners had to take on too much at their own businesses during COVID. This article shows 3 steps you can take to get your life back.
8 facts to help you determine if you own a business or an expensive job. if you own a business than you own an asset that others might want to buy from you. If you own a job, than most likely your business ends when your self employment does.
The Music Industry Illustrates the sometimes exponential value of owning a unique brand. Artists like Bruce Springsteen who own their name, Amazon who owns their distribution experience and Peloton who owns a unique community all illustrate how these unique aspects drive up their respective values.
If you are a business owner you will often have to “fire “yourself from the day-to-day grind of your business so you can truly unlock the value of your business.
To Grow the Value of my Business requires more than just increasing profits. It requires me to optimise my business on the 8 key value drivers a potential buyer would look at.
Use the art of bundling both your expert and general services to capture customers, build their lifetime value, and drive up the value of your business.
Despite having no grapes, vats or wineries of their own – nor experience in the industry – Michael Houlihan and Bonnie Harvey were able to create, grow and sell Barefoot Cellars for millions. 15 lessons they shared from this experience are listed below.
As you know, it is far easier and efficient to cross-sell a new product to an existing customer than it is to market and find a new customer for that product.
If you are looking to just grow your top line revenue, then cross-selling is a very effective technique.
However, you do have to be mindful as to the extent of your cross selling and how it affects your revenue diversification. In some instances, if you cross-sell your existing customers too much stuff, it could make your business far less valuable.
Amazon Prime is arguably one of the most successful examples of a company transforming its repeat customers into repeat business subscribers on the planet.
Not only did the average customer life time value (LTV) more than double, the the success drove tens of thousands of non Amazon customers to subscribe and engage with the company off the bat as repeat subscribers.
As Amazon knew (and clearly illustrated) repeat business drives the value of a company, but not all repeat business is the same.
“I wasn’t being strategic, I was going through a divorce!”
Divorce often sinks a company but John the owner was able instead to transform his company into an independent asset. Today he works 90% less hours, his company is growing, and he enjoys the business much more.
is your business independent or does it own you?
My first hit on the high school baseball team? A home run.
Sounds impressive, right? But what happened before that might surprise you. Let’s just say I wasn’t exactly team material when I started out…
It took a mentor, some tough lessons, and a total transformation to make it to that moment at home plate.
The same kind of transformation your business needs to break through to its next level. Ready to see how?
“For she is more profitable than silver, and her gain is better than fine gold. She is more precious than rubies; nothing you desire can compare with her.” (Proverbs 3:14-3:15).
We’re talking about Sophia…
More specifically, the Greek word for wisdom.
And how tapping into Sophia or wisdom can transform what your business provides you.
“Sing us a song, you’re the piano man…”
Hearing those lyrics took me back to a snowy Christmas Eve years ago, driving through Chicago in a blizzard to pick up my friend Don. We slid into snowbanks, laughed until we cried, and celebrated late into the night.
Years later, Don built a thriving business and a life he loved abroad. But his story has always stayed with me—and not for the reasons you might think.
Profitability alone doesn’t guarantee a buyer will be interested in your business. In fact, many owners don’t realise that 7 out of 10 businesses fail to sell—not because they’re unprofitable, but because they lack what buyers value most:….
“I ain’t missing you at all… since you’ve been gone.”
That’s the song your business should sing when you’re away.
If your business misses you every time you step out—whether it’s for a holiday, a family event, or even a few hours—it’s a sign of trouble.
A friend of mine recently jumped on a plane for his 12th trip in just nine months. He’s headed to Europe for some skiing and a bit of downtime to enjoy a hobby he’s fallen in love with.
But here’s what’s remarkable: his business doesn’t miss him.
It wasn’t always this way. Just a few years ago, he was stuck working 80-hour weeks, tethered to his desk and overwhelmed by the daily grind.
The turning point? He decided ……
When you’re running a business, it’s easy to think buyers will see the value in everything you’ve built—the late nights, the sacrifices, the blood, sweat, and tears.
But buyers don’t care about brownie points.
They care about what your business can do for them. If you can’t answer that, your business could end up like Sally’s….
“I know kung fu.”
That line from The Matrix always stuck with me. Imagine downloading a lifetime of knowledge—mastering martial arts, business strategies, or customer service excellence—in seconds.
While we can’t quite do that yet, what if you could save years of trial and error in your business?