In this last restaurant we see how an owner’s personal attitude can drive the culture and ultimate success or failure of his business. How the “brand”of his business is tied up in how he presents himself to his potential customers.
I’m in Greece this week and will highlight some observations I see from different F&Bs that have customer experience and underlying business value lessons for all types of businesses. In the second one we have the most successful restaurant on the strand. Every day lunch and dinner he has full tables. And it stems from providing consistent high quality experience from the passerby to the final bill payment. An experience that gives him a constant stream of repeat patrons and others referred by friends or the high reviews.
I’m in Greece this week and will highlight some observations I see from different F&Bs that have customer experience and underlying business value lessons for all types of businesses. In the first one, we have a nice owner and a nice clean place but it’s sabotaged by confused messaging of what it is and some very awful pictures and inaccurately paint a low quality vision of what to expect inside.
Trying to grow the business on the back of monkeys? By investing in your employees, you’ll not only improve productivity but also attract the best new talent to continue driving the growth of the business.
What is the most effective way to sell a new product or service to your customers? Listen to them, find their pain and needs and then design the product or service. Most do it backwards and then find themselves struggling to find an audience for what they created. Learn the formula from direct marketing to know what to priortise and when.
Today the lesson is how to organically grow the business by leveraging an overlooked asset… your existing customer base and unlock the key to how most successful businesses were able to scale and grow.
Pricing is an overlooked and powerful lever of growth but it’s often determined incorrectly or unnecessarily limited.
We touch on due diligence today and the uncomfortable questions you can head off by preparing from today and turning a painful process into a beneficial one.
Buying a business is akin to a game of inches – it’s the fine details that can make or break the deal. Scrutinize your contracts, work on your growth paths, and be prepared for tough negotiations. Don’t let a few oversights cost you a potential sale. It’s not just about getting to the end zone, it’s about ensuring every yard is fought for and won
In 1985, the Chicago Bears learned the hard way that you can’t run the same play repeatedly and hope for different results. A striking parallel to an owner who kept spinning the wheel, hoping buyers would overlook his over-involvement in the business. Like in the game of football, businesses thrive on the right fundamentals and the ability to adapt. Are you making the necessary adjustments or sticking stubbornly to the same play?
my first M&A deal taught me a lot and especially how character can make or define success. A spoiled son decides to play in the big leagues and learns quickly the ball flies pretty fast and can be pretty hard. He hesitates and costs him millions.
what happens when you build a real business and you want to retire and sell but allow one function to fall short because its leader is incompetent or lazy… same as what happens when you fumble the ball on the goal line every down….
The Movie Any Given Sunday was famous for highlighting the battle for inches on both the football field and life. From personal experience I can tell you the inches look deceptively simple and often it’s just a few that separates the consistent winners from the losers. This week we’ll go into more detail on why that’s the case in business.
In the story with David and Nathan, David was having an “affair’ with his business by being so busy in day to day thankless tasks that he was neglecting growing the company and his own family. In my experience, several owners who were too busy to invest 20 minutes in finding out the strengths and risks in the underlying value of their business are no longer in business today. It’s not a coincidence.
In the story with David and Nathan, David says in passing he stepped away from a recurring revenue opportunity because he was focused on potential costs. In Business, predictability is sexy. You don’t want your business to come off as challenging, volatile, and a “bad boy”.
in the story with David and Nathan, David is allowing himself to take his eyes off his business by indulging the wishes of a customer that has become too big. You don’t want to be at the mercy of a big whale of a customer or it can evaporate your business in a second or keep you up at night worrying about it..
in the story with David and Nathan, David had his “black knight” Jack, who is destroying the value of David’s business by being completely inept in his finance role. It’s an unforced error and 100% avoidable. It just requires a commitment to producing and providing high quality financial reporting.
in the story with David and Nathan, Nathan started by how David’s poor customer experience from outsourcing is destroying the value of his business. Some metrics in this article make Nathan’s point pretty clear…
In the world of business, the real thief may not always be who you expect. David finds out finally the uncomfortable truth – that the thief jeopardizing his company’s value and his family’s future is closer than he thinks.
As the stakes get higher, the complexity intensifies. Juggling projects, pleasing clients – but is David losing sight of what matters?
Tough calls and slashed costs – the realities of running a business. But could these decisions lead to unexpected pitfalls? What will David find out eventually?
David begins suspecting his employees, even one he went above and beyond looking out for. Who in your organization would you protect unconditionally? Is your loyalty justified?
Just when David thinks he has everything under control, a breakfast chat changes everything. Are you aware of everything happening in your business, or is there a blind spot you’re unaware of?
The stakes are high if you plan to sell your business one day. Below is a case study of someone who did everything right when it came to making her business a sellable asset except for one area she wanted to save a couple of dollars …
And the math shows the benefits and costs of enhancing and neglecting the value of your business.
The key to restful sleep as a business owner….
Keep delivering on your promises to customers and suppliers, and continue to provide excellent service and uphold your reputation in the marketplace.
In short, transform your business into a premium, sellable asset that will secure your legacy and provide you with peace of mind.
Call me if you need help doing it.
Here we talk about 3 common anxieties and concerns that cause many business owners – especially those in their late 40s or 50s – sleepless nights..
Met a guy this weekend who was a total hustler but a bit out of his league trying to raise 50% investment. However, he did provide a reminder that we should ensure we walk the walk.. instead of just talk the talk…
So if the parrot is dead…it’s dead. Be honest, be transparent, and focus your energy on highlighting your growth paths and potential, your unique assets that help you stand out and justify a premium to buy or invest in you.
Sarah turned her business around with four simple, yet powerful, strategies – pricing adjustments, expense management, speeding up payments, and smart leasing. Now, she’s not just staying afloat but growing, all while increasing her company’s value. It’s amazing what strategic cash flow management can do
Just like our hearts and circulatory system, our businesses need a healthy cash flow to survive, grow, and thrive.
Take Sarah, a bakery owner who struggles with negative cash flow, often scrambling to cover expenses and worrying about future payments.
If you wish for a more profitable, predictable, and enjoyable business that’s ready for future investment or sale, cash flow management is a must.
As a kid, “Uncle Ted” terrified me—he saw through my spoiled antics and wasn’t afraid to call me out. Later, I realized he was more than tough; he was a self-made success and, eventually, a mentor. But when it came time to sell his thriving business, things didn’t go as planned. Now, I share his story to help other business owners avoid his fate.
9 out of 10 business owners struggle to sell their businesses on terms they want. Why?
They can’t convince investors of their business’s future potential in the right hands.
If you want to attract serious buyers and keep control over the deal, start planning now.
Sign in to the Owners Club for the 4 questions you need to answer to make your business investor-ready. Plus, join our Open Office Discussion!.
Last night, I watched a documentary on the 2004 Red Sox—a team that, after 86 years, made bold moves to secure a championship.
It reminded me of a key insight when valuing businesses: like a traded sports icon, your past efforts alone don’t drive investor interest.
Investors focus on future potential under their control.
Find out more in our free Owners Portal and Join me on November 19 for a free session where I’ll cover how to make your business irresistible to investors.
Ever thought about what would happen if life threw you an unexpected curveball?
I recently heard a story that hit me hard—a business owner who poured everything into his work until, one day, he couldn’t anymore.
No backup plan, no safety net… and in an instant, everything he’d built was on the line.
It’s a powerful reminder of why having a business that can be sold today really matters.
A conversation with Brian highlighted the millions he saved by building a sellable business even when he didn’t have any intention to sell at the time.
It was on another election day that I started my new life here in Dubai. The people I’d meet and the experiences I’d have in that job would shape why I started Sophiall and why I strongly believe that every entrepreneur deserves success and shouldn’t miss out like 70% of other business owners who build profitable companies but can’t successfully sell them or pass them down.
I got to experience first-hand the ridiculous pitch a café owner made when it came time to sell her business and I wished to see her current financials.
Now her answer wasn’t so out of the ordinary. Often business owners have the incorrect conception of what makes their business attractive to someone else.
The stakes are too high to find yourself in this same no-mans land so we have released a new course in the Owners’ Portal. Read on to find out more.
Imagine holding your competitor’s playbook and doing… nothing. That’s exactly what happened when General McClellan sat on Lee’s battle plans, letting a chance for victory slip through his fingers.
Today, business leaders hold the same power with Customer Lifetime Value (CLV).
Will you leverage CLV to conquer your market—or watch rivals overtake you? Don’t be the next McClellan.
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