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Recently, I spoke about using targeted reinvestment to grow your practice. While specifically addressing dental entrepreneurs, the principles I covered could be used for any business. I’d like to continue down that path to answer a question I received from one of our listeners. The question is this, “What are the pros and cons of […]
Buying a Dental Practice to Grow Yours: Pros and Cons Read More »
Money Talks News / Money Talks News According to the latest report from Vanguard, looking at the average amount of money saved for retirement, there’s a good chance you might not be on track for comfort in your golden years. The average 45-year-old has less than $180,000 saved for retirement. But how do you change
How to Retire at Any Age Using Your Retirement Number Read More »
Selling a business is a difficult proposition. For those of us who have been fortunate enough to successfully sell a business, it may be tempting to use the proceeds from the sale to seed your next venture. But is it really the right time? Before you can know this, you must evaluate the true cost
Selling a Business to Start Another: Is the Time Right? Read More »
Expectations are an important part of business. A CEO sets expectations for growth over time. Your sales department outlines product and service expectations for potential clients. But can expectations be harmful to your business? Inherently working to exceed expectations isn’t necessarily a bad thing. However, if you’re setting expectations too high and consistently underperforming, that
Is Trying to Exceed Expectations Dangerous to Your Business? Read More »
As a business owner, you’ve likely heard about creating company core values at least once. In fact, you’ve probably got a list of a few core values tucked away somewhere. But operating a values-based organization requires more than writing a few inspirational words and inserting them into your company handbook. In this entry, I’m discussing
4 Ways to Communicate Your Company’s Core Values with Your Customers Read More »
As business owners, we have many unique skills and talents. But did you know you also have the ability to tell the future? Okay, so, you’re not likely to predict the next winning lottery numbers. However, you can predict (or project) your company’s financials over the next few years with pro forma. You see, knowing
Telling the Future – The Power of the Pro Forma in Small Business Read More »
Have you ever wondered why some leaders are more effective than others? The extreme ownership principles taught by Jocko Willink and Leif Babin, both in their book and consulting firm, shine a light on the necessary traits of effective leaders. But how do you take battle-tested (literally) leadership principles and apply them to your business
3 Ways to Quickly Implement Extreme Ownership in Your Team Read More »
I often hear business owners referring to succession planning and exit planning as though they’re interchangeable terms. While similar, the differences between a sale, a succession, and an exit are significant. Each one has a different end goal in mind. Understanding the differences and how they work together is critical. That’s why today’s entry is
Succession Planning vs. Exit Planning: The Difference is Critical Read More »
Aaron Freeman / Money Talks News We’ve all heard the dismal statistics. Most people who set New Year’s resolutions abandon them by February. What gives? Why is it so hard to follow through on our goals? And most important: What can we do to succeed? Let’s find out. In this week’s podcast, host Stacy Johnson
5 Powerful Mental Tips to Accomplish Your Goals Read More »
As a business owner, it can be tempting to work with anyone who can fog a mirror. While this may be a necessary tactic in the early stages of your business, it may not be the best long-term strategy for maximum growth and efficiency. Not all clients are created equal and, at some point, you’ll
3 Ways to Determine Your Ideal Client and Use the Results Read More »
Business owners have to be adaptable. As much as we like to plan and strategize to reach our goals, sometimes things occur outside of our control, making it necessary to change course. It’s as much a part of business as it is life. So, when it’s time to change direction, how do you develop a
How to Build a Pivot Strategy for Your Business Read More »
Upskilling is a valuable asset in the business world. Good coaching is beneficial for both the mentor and the mentee. The employee is benefitting from your experience. On the other hand, the trainer gets to sharpen their skills and increase their network. Perhaps you’ve identified a promising young talent in your company, and want to
The Ups and Downs of Upskilling Staff into Team Leadership Roles Read More »
Owning a family business is as much a part of the American dream as having the house with the front porch swing and white picket fence. It’s a fine dream to have, and for many, it can be a reality. However, owning a family business is hard. You’re dealing with all of the normal problems
4 Pitfalls of Your Kids Taking Over the Family Business Read More »
Aaron Freeman / Money Talks News In this week’s podcast, we’re talking about alternative investments. If you’re like most people, stocks, bonds and savings accounts are the foundation of your investments. Nothing wrong with that: All three are important for a comfortable, secure retirement. But they’re not the only game in town. There are plenty
Your Guide to Alternative Investments Read More »
Recession. More than likely, the mere mention of that word elicits an emotional response. It could bring up feelings of dread and panic, as it does in most people. However, for the savvy business owner, the thought of uncertainty in the economy should signal opportunity. As Warren Buffett once said, “Be fearful when others are
5 Ways Your Business Can Benefit from Economic Uncertainty Read More »
As entrepreneurs, we understand the need for marketing. However, we don’t always understand how we should market our businesses. Marketing is a different animal than the other areas of business. It operates by a different set of rules that can seem like they have no rhyme or reason. As a result, we’re often left frustrated
Create Raving Fans by Taking the FIT Approach in Marketing Read More »
Pricing is a delicate subject. If you set your pricing too low, your margins will suffer, and the business won’t flourish. Conversely, customers might choose to look for more affordable options if they’re too high. How you set your pricing can ultimately, influence every part of your business. But sometimes it’s necessary to increase your
How to Raise Prices Without Losing Customers Read More »
Most small business owners face incredible competition. Everyone is competing for a share of the market, and once they have it, they compete to expand that share. Yes, friends, it’s no secret that the world of business can be cutthroat. It’s not for the faint of heart. To succeed, you must have a competitive drive
Why Should Small Businesses Avoid Price Wars with Competitors? Read More »
One of the most rewarding (and sometimes, frustrating) aspects of business ownership is people. Assembling a team of people with very different personalities and skill sets is challenging. Adding to that challenge is the fact that your team must also be able to get along with one another and be aligned with your corporate culture
How to Keep Good Employees Happy – 5 Retention Ideas Read More »
Selling your business is one of the biggest decisions you’ll ever make. It determines the futures of you, your family, your team, and their families. Beyond merely considering the financial side of things, you must also think about how a business sale will affect you emotionally. You’ll need to ask yourself questions like, “What will
When Is the Best Time to Sell My Business? Read More »
