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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?
10 Questions Often Asked When Looking to Sell Your Business One of the most intimidating aspects of selling your business can be facing the barrage of
Wisdom is not the same as Intelligence or even technical knowledge. Thousands and tens of thousands of very smart business owners were technical experts at what they produced and should have had business success, but their companies lie in unmarked graves across the economic landscape.
Lack of market demand is the primary reason provided for many start ups failing, but that does not fully explain why 50% of SMEs fail within five years.
“Prepare the business for a sale even if no intention to sell currently or in the future”
Why ? Because if you are preparing to sell from now (even if you do not intend to actually bring the business to market anytime soon), you will position your business to provide you multiple options when it does come to exit. That can mean passing along a well-functioning business to your children (instead of a lemon that prematurely ages them as they struggle to deal with its inherited issues and problems), selling your business at a premium (due to multiple and/or strategic buyers) or other options in between (minority sell off, etc)
Why did you decide to become an Entrepreneur? If you’re like most owners, you aspire to have the freedom that comes from owning your own independent business. This desire for freedom often leads owners to aspire for a bigger business, which they think will give them what they want. Unfortunately, most owners who strive for more revenue or profit as their primary goal often end up with less freedom as slaves to the day-to-day grind of their business.
There’s an alternative to get you closer to what you want..
Excellent Service drives up the value of your business. In this article I illustrate how Amazon solved an AED 1,835 issue for me that generated over AED 400,000 in business value for them. It’s a formula (excellent service – repeat customers – high multiples) they practice again and again.
The Major Blind Spot Blocking Business Value “…Do not think you are wiser than you really are” (Romans 12:16) I wrote an article last month
Financial Freedom – “You Proofing” Your Business In a previous post, I spoke about the Freedom Point and the risk in holding on to your
Are you Achieving Financial Freedom through your Business? When did you last calculate how much of your net worth is tied to your company’s value?
Caroline had enough. An 8 a.m. meeting, endless waiting, and then… she did the unthinkable. For the first time, Susan was left speechless.
What did Carline do to her biggest client? And why did she feel freedom instead of fear?
How do you handle your most difficult customers, especially when they start affecting other opportunities for your business? Caroline was at a breaking point, torn between a demanding client and a crucial new deal. How do you discern and what freedom do you have when it comes to who you do business with? It’s a theme we touch on this week and in part 1 of this series.
For those of you in the US, there is a big demographic Whale that will severely affect you if you are a 55 year old + business owner looking to comfortably retire by selling your business anytime in the next 5-10 years.
Does your business have what it takes to stand out and attract investors? Click to find out more..
Ever wonder how a 20-year-old brand could disappear in an instant? I recently received an email that shows just how quickly things can unravel with one careless move. It’s a stark reminder of the dangers lurking in plain sight. Sometimes, all it takes is a single ill-advised shortcut to undo years of hard work.
Ever try selling a cure to someone who isn’t sick? It’s frustrating, isn’t it? Too often, entrepreneurs waste time pitching solutions to those who don’t need them. The key is finding the right audience—those who truly need and want what you offer. Last week in Dubai, I witnessed a perfect example of this mistake. Want to avoid it? Discover more in my free 5-part series.
A major deal in the wine industry once hinged on a single question: “What am I really buying?”
The answer wasn’t what you’d expect. It wasn’t vineyards, trucks, or facilities—it was something far less tangible, yet infinitely more valuable.
What could it be?
The story behind this unexpected acquisition holds a key lesson for every business owner.
What’s the one challenge most business owners tackle with the wrong tools? It’s not what you might think. Many pour time and money into one thing, while overlooking another that could transform their business.
Ever feel like you’re using a herring when you need a power saw?
Ever wondered what happens when a seemingly perfect deal suddenly unravels? I recently heard a story that might make you rethink your business strategy. An 8-figure offer, a smooth process… until the unexpected happened. It’s a reminder that every day in business brings you closer to an exit—planned or unplanned. Curious to know what went wrong? Dive into the full story to learn more.