freedom3

3 Things to Consider When You Hit “The Freedom Point”

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When was the last time you calculated the percentage of your net worth tied to your company’s value? When you started your business, its value was probably negligible. Unless you purchased or inherited your company, it wasn’t worth much…
you will be ok

Why You Should Fire Yourself

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If you find yourself in a position where your customers always insist on speaking with you directly instead of your employees, then you might want to consider shifting your structure so you can improve the value of your business. Here's…
fortune teller

Why Companies are Adopting Subscription Billing Models

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Volvo recently announced they will make their cars available on a subscription model where consumers will pay one fixed fee per month for access to a car which includes insurance and maintenance. Everything from tooth brushes to flowers…
Keys

The One Number Owners Need to Stop Focusing On

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The value of your business comes down to a single equation: what multiple of your profit is an acquirer willing to pay for your company? profit × multiple = value Most owners believe the best way to improve the value of their company…
hidden face

The Hidden Downside of This Common Management Idea

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Cross selling new products and services to your existing customers may be a great marketing strategy, but if your goal is to increase the value of your business, the added revenue may do nothing for your company’s value – and may even lower…
dartboard bulleye

The Big Thing Holding Back Small Businesses

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Small businesses stay small either by choice, or because they start chasing growth in the wrong places. When you strip away the layers, it all comes down to darts. Imagine a dart board with a bull’s eye and around it is a series…
Caution

Why You Should Exit While You’re Ahead – A Cautionary Tale

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The very best time to sell your business is when someone wants to buy it. While it can be tempting to continue to grow your business forever – particularly when things are going well -- that decision comes with a significant downside.  Take…
starting plants

Starting Vs. Growing a Business

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Most company founders are good at the first stages of entrepreneurship. But in the phases that follow, they may only be average. Just because you have a knack for starting companies, doesn’t necessarily mean that those skills translate well…
Nashville

Ownership Has Its Privileges

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Walk down Nashville’s Lower Broadway any night of the week, and you can hear aspiring artists belting out cover tunes from Elton John to Garth Brooks.   In many cases, these musicians come to Nashville to be discovered but pay…
private

Run Your Private Company Like It’s Public

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Small businesses often operate as if their sole purpose is to fund the owner’s lifestyle, but the most valuable companies are run with financial rigor. You may be years from wanting to sell, but starting to formalize your operations now will…