Category Business Improvement

Business Brokers for Small Business: Finding the Right One Near You

Selling a small business is a significant milestone, requiring careful planning, patience, and expert guidance. Whether you’re retiring, pursuing a new opportunity, or simply ready to cash out, understanding how to sell a small business is essential for maximizing your returns. A key part of the process is finding experienced business brokers who specialize in small businesses. These professionals streamline the sales process, ensuring you get the best price while minimizing stress.

Why Use a Business Broker When Selling a Small Business?

You may be tempted to sell your business independently to save on broker fees, but experienced business brokers offer several invaluable advantages. Here are some compelling reasons to hire one:

1. Expert Valuation of Your Business

A skilled business broker can accurately determine the value of your business by analyzing its financial health, market trends, and unique strengths. This ensures you set a competitive asking price that appeals to buyers while reflecting your business’s true worth.

2. Access to a Broader Pool of Buyers

Business brokers have extensive networks of qualified buyers, including investors and other entrepreneurs. They use targeted marketing strategies to reach buyers who may not respond to public listings, increasing your chances of finding the perfect match.

3. Confidentiality and Discretion

Maintaining confidentiality is critical during a sale to avoid disrupting employees, customers, and competitors. Business brokers protect your identity and discreetly market your business to serious buyers, ensuring the process remains smooth and private.

4. Negotiation Expertise

Negotiating the sale of a business is complex and often emotional. Business brokers act as impartial intermediaries, handling negotiations to secure the best terms for both parties. Their expertise helps avoid common pitfalls and ensures a professional transaction.

Steps to Selling a Small Business Successfully

Selling a small business involves multiple stages. Here’s a step-by-step guide to ensure a successful sale:

Step 1: Plan and Prepare Your Business for Sale

Preparation is key to attracting serious buyers. Organize financial documents, such as tax returns, profit and loss statements, and contracts. A business broker can help identify areas for improvement to boost your business’s appeal.

Step 2: Conduct a Professional Valuation

Understanding your business’s value is critical. Business brokers use industry benchmarks, earnings multipliers, and asset evaluations to determine a fair asking price that maximizes your return without deterring buyers.

Step 3: Market Your Business

Business brokers create tailored marketing strategies to attract the right buyers. They use channels such as their private networks, industry-specific platforms, and targeted advertisements to showcase your business to qualified prospects.

Step 4: Screen and Qualify Buyers

Not all interested parties will be suitable buyers. Business brokers screen potential buyers to ensure they have the financial capacity and genuine interest to complete the purchase. This step saves time and ensures confidentiality.

Step 5: Negotiate the Sale

Your broker handles all negotiations, including price, terms, and contingencies, to secure the best deal. Their role ensures the process remains professional and efficient.

Step 6: Finalize the Transaction

After agreeing on terms, your broker works with attorneys, accountants, and other professionals to ensure all legal and financial details are addressed. Once complete, ownership transfers to the buyer, marking the successful sale of your business.

How to Find the Right Business Broker for Your Small Business

Selecting the right business broker is crucial for a smooth sale. Follow these tips to find the best professional for your needs:

1. Research Local Business Brokers

Search for brokers with expertise in your industry and region. Local brokers understand market dynamics and can connect you with buyers interested in your type of business.

2. Check Their Track Record

Look for brokers with a proven history of selling businesses similar to yours. Read testimonials, reviews, and case studies to gauge their success rate and client satisfaction.

3. Ask About Their Approach

During interviews, ask brokers about their strategies for valuation, marketing, and buyer outreach. Ensure they have a structured plan tailored to your business.

4. Understand Their Fees

Business brokers typically charge a commission based on the sale price. Clarify their fee structure and ensure it aligns with the level of service they provide. Transparency is key.

Common Mistakes to Avoid When Selling a Small Business

  • Underestimating Preparation Time: Start preparing your business for sale at least 6–12 months in advance to address any weaknesses and maximize its value.
  • Overpricing or Underpricing: Setting the wrong price can deter buyers or leave money on the table. A professional valuation prevents this.
  • Neglecting Confidentiality: Failing to maintain discretion can disrupt operations and erode trust with employees and customers.
  • Skipping Professional Help: Selling without expert assistance often leads to missed opportunities, lower sale prices, and avoidable complications.

Final Thoughts: Achieving Success When Selling Your Business

Learning how to sell a small business is a journey that benefits greatly from expert guidance. Business brokers bring the knowledge, networks, and negotiation skills needed to navigate this complex process successfully. By partnering with the right broker, you can achieve a seamless transaction, maximize your sale price, and confidently move on to your next venture.

Take the first step by researching qualified business brokers near you, and soon you’ll be well on your way to a successful sale. With proper preparation and the right team by your side, selling your small business can be a rewarding and profitable experience.

Outsourcing QuickBooks and Bookkeeping: A Smart Solution for Your Business

Managing finances is a crucial aspect of running any business, but it can be time-consuming and complex. For many companies, outsourcing QuickBooks and bookkeeping services has become an essential strategy for ensuring financial accuracy, saving time, and focusing on growth. By handing over the management of your accounting system to professionals, you gain access to expert services that streamline processes and ensure your financial records are in top shape. In this article, we will explore the benefits of outsourcing QuickBooks and bookkeeping, how it works, and why it could be the right choice for your business.

Why Outsource QuickBooks and Bookkeeping?

Outsourcing QuickBooks and bookkeeping tasks to a specialized service provider can have a significant positive impact on your business. Here’s why many companies are making the switch:

1. Cost-Effective Solution

Hiring an in-house team for accounting and bookkeeping can be expensive. Between salaries, benefits, and training, the costs can quickly add up. Outsourcing allows you to pay only for the services you need, which can be a more cost-effective solution. Plus, outsourcing services often come with scalable options, so you can adjust your package as your business grows.

For more information on pricing for small businesses, check out QuickBooks Bookkeeping Pricing for Small Business: Which Plan Is Right for You?.

2. Access to Expertise

QuickBooks and bookkeeping professionals have the skills and experience needed to ensure your financials are accurate and up-to-date. These experts are trained in the latest software updates, tax laws, and accounting best practices. When you outsource these services, you gain access to this expertise without having to invest in extensive training or additional staff.

For businesses using QuickBooks, learning how to manage finances efficiently is key. Our guide on Bookkeeping in QuickBooks Online: A Guide to Simplify Your Accounting can help you streamline your accounting tasks and make the most of the software’s features.

3. Time-Saving

Managing QuickBooks and bookkeeping tasks in-house can be a drain on your time, especially when you’re trying to focus on core business operations. Outsourcing allows you to free up valuable hours that can be better spent on strategic decision-making, client relations, or business development. With experts handling the financial side, you can stay focused on what you do best.

4. Improved Accuracy

Mistakes in your QuickBooks or bookkeeping records can lead to serious financial repercussions, including tax issues or cash flow problems. Outsourcing ensures that a team of professionals is handling your books, reducing the risk of errors. These experts use up-to-date tools and processes to guarantee accuracy and compliance with accounting standards.

How Outsourcing QuickBooks and Bookkeeping Works

Outsourcing QuickBooks and bookkeeping services typically involves working with an external team that handles your financial data and records. Here’s a breakdown of how it generally works:

1. Choosing a Service Provider

The first step is to find a reputable outsourcing provider that specializes in QuickBooks and bookkeeping. Look for a provider with experience in your industry and a proven track record of helping businesses maintain their financial health. It’s important to choose a company that understands your unique needs and can offer customized solutions.

2. Setting Up Your QuickBooks System

Once you’ve selected a provider, they will typically set up or integrate QuickBooks with your existing financial system. This may include setting up your chart of accounts, importing past financial data, and ensuring your system is optimized for your business.

3. Daily/Monthly Bookkeeping Tasks

Your outsourced team will handle routine bookkeeping tasks, such as categorizing transactions, reconciling bank statements, processing invoices, and tracking expenses. They will also provide you with regular financial reports, so you always have an up-to-date view of your business’s financial health.

4. Tax and Compliance Management

Outsourcing QuickBooks and bookkeeping often includes assistance with tax preparation and compliance. Your outsourced team will ensure that your books are in order for tax season, help you stay compliant with local tax laws, and may even provide strategic advice on how to minimize your tax burden.

Benefits of Outsourcing QuickBooks and Bookkeeping

Outsourcing QuickBooks and bookkeeping isn’t just about saving time and money—it’s also about making your business more efficient and secure. Here are a few additional benefits:

1. Scalability and Flexibility

As your business grows, your accounting needs will evolve. Outsourcing gives you the flexibility to scale your bookkeeping services as needed, whether you need more frequent reporting, additional support during tax season, or help managing more complex financial tasks. You can also adjust your package based on your budget and requirements.

2. Better Financial Insight

Outsourcing allows you to gain valuable insights into your business’s financial performance. Your outsourced QuickBooks and bookkeeping team can provide you with in-depth reports and analysis that help you make data-driven decisions. From cash flow analysis to profit and loss statements, these insights can guide your business strategy and improve profitability.

3. Enhanced Security

Handling sensitive financial data comes with risks, especially when it’s managed by a team that isn’t fully trained in data protection. Reputable outsourced QuickBooks and bookkeeping services follow stringent security protocols, ensuring your financial data is protected from unauthorized access, data breaches, and fraud.

When Is It Time to Outsource QuickBooks and Bookkeeping?

Deciding when to outsource QuickBooks and bookkeeping depends on your business’s size, financial complexity, and available resources. However, some signs that it might be time to consider outsourcing include:

  • Lack of Time: If you’re spending more time on bookkeeping than running your business, it may be time to outsource.
  • Inaccurate Financial Records: If you’re struggling to keep your QuickBooks or bookkeeping system up-to-date, outsourcing can help ensure accuracy.
  • Growth and Expansion: As your business grows, managing financials becomes more complex. Outsourcing provides the flexibility to manage this growth without the need for an in-house accounting department.
  • Need for Expertise: If you don’t have the in-house expertise to manage your finances, outsourcing gives you access to professionals who know QuickBooks inside and out.

Conclusion

Outsourcing QuickBooks and bookkeeping is a smart choice for businesses of all sizes. By leveraging the expertise of professionals, you can ensure that your financial records are accurate, up-to-date, and compliant with regulations—all while saving time and reducing costs. Whether you’re a small business looking to streamline your accounting processes or a growing company in need of scalable solutions, outsourcing can provide the support you need to maintain financial health and focus on what matters most—growing your business.

15 Essential Questions for Entrepreneurs

Questions for EntrepreneursAre you thinking about starting your own business or trying to improve the one you already have? Whether you’re just beginning or already on your way, asking the right questions is very important. Many successful entrepreneurs emphasize the importance of self-reflection and strategic planning. By considering the right questions for entrepreneurs, you can lay a strong foundation for your business and ensure you’re on the path to success. In this guide, we’ll explore 15 essential questions for entrepreneurs that can help guide your business towards success.

15 Essential Questions for Entrepreneurs

  1. What problem does my business solve? Understanding the main problem your business addresses is crucial. Identify the issues your target customers face and how your business can solve them.
  2. Who are my target customers, and what do they need? Knowing your customers well is key. Look into their age, interests, and what they need so you can create products or services just for them.
  3. How is my product or service different from others? In a crowded market, being different is important. Figure out what makes your product or service special and why customers should choose you over others.
  4. What are my short-term and long-term goals? Set clear and reachable goals. Decide what you want to achieve soon and what you want to achieve in the future to keep your business on track.
  5. What is the best business model for my company? Choose the right way to make money from your business. Whether it’s selling products, offering services, or something else, pick what fits best with your goals.
  6. How will I fund my business? Think about how you will get the money to start and grow your business. Look into different options like personal savings, loans, or investors.
  7. What risks and challenges might my business face? Every business has challenges. Identify potential problems and plan how to handle them before they happen.
  8. Who are my competitors, and what makes me different? Study your competitors to understand their strengths and weaknesses. Use this information to make your business stand out.
  9. What is my marketing plan to reach customers? Create a plan to attract and keep customers. Use different methods like social media, advertising, and promotions to get your message out.
  10. How will I measure my business’s success? Decide on key performance indicators (KPIs) to track your progress. Regularly check these metrics to see how well your business is doing.
  11. Am I ready for the challenges of running a business? Running a business can be tough. Make sure you’re mentally and emotionally prepared to face ups and downs.
  12. Who are my mentors and support network? Surround yourself with experienced mentors and supportive people. Their advice and encouragement can be very helpful.
  13. How adaptable am I to changes in the market? Being flexible is important. Be ready to adjust your plans as the market and customer needs change.
  14. How will I manage my time effectively? Good time management is crucial. Prioritize tasks, set deadlines, and use tools to stay organized and productive.
  15. Am I passionate about my business idea? Passion is essential for success. Make sure you are genuinely excited about your business idea and ready to stick with it through tough times.

By carefully considering these 15 essential questions for entrepreneurs, you can develop a clearer vision for your business and create a solid action plan. Reflecting on these questions helps you understand your business’s strengths and weaknesses, identify opportunities, and prepare for challenges.

In conclusion, asking the right questions for entrepreneurs is not just an initial step but an ongoing process. Regularly revisiting these questions can help you stay aligned with your goals and adapt to changes in the market. Whether you are starting a new venture or aiming to grow an existing one, these essential questions provide a roadmap for making informed decisions and achieving long-term success. By thoughtfully addressing these questions, you can navigate the entrepreneurial landscape with confidence and build a thriving business.

Aged Corporations: The Powerful Benefits You Need to Know

Aged Corporations

Entrepreneurs often face numerous challenges when starting a business, from securing financing to establishing credibility with potential clients and partners. One strategy that can help alleviate some of these challenges is acquiring an aged corporation. Aged corporations, also known as shelf corporations or seasoned corporations, have been previously formed but have remained dormant, maintaining their legal status over the years without any significant business activity. This blog will explore the benefits of aged corporations and why they might be a smart choice for your entrepreneurial endeavors.

The 7 Powerful Benefits You Need to Know

1. Instant Credibility and Trust with Aged Corporations

One of the primary benefits of purchasing an aged corporation is the instant credibility it provides. Even if it hasn’t been active, a business with a history can appear more reliable and trustworthy to clients, investors, and partners. This perception of stability can be particularly advantageous when securing contracts or negotiating with suppliers who may be hesitant to work with a newly established company. The age of the corporation can serve as a testament to its longevity and potential stability.

2. Easier Access to Financing with Aged Corporations

Lenders and financial institutions often consider a business’s age as one of the criteria for approving loans or lines of credit. New companies may struggle to get financing due to their lack of history and proven track record. In contrast, an aged corporation can show a longer business history, which may improve its chances of obtaining financing. The longer the company has been established, the more likely it will be viewed as a lower-risk investment.

3. Faster Business Setup with Aged Corporations

Starting a business from scratch can be time-consuming, involving the company’s legal formation, registering with state and federal authorities, and setting up bank accounts. With an aged corporation, much of this groundwork has already been laid. You can often skip many of the time-consuming steps in business formation, allowing you to focus on growing your business rather than dealing with administrative tasks. This can be particularly beneficial if you need to start operations quickly.

4. Better Contract Opportunities with Aged Corporations

Some business opportunities and contracts are only available to companies that have been in operation for several years. Government contracts, for instance, often have requirements stipulating that bidders must have been in business for a specified period. By acquiring an aged corporation, you can meet these requirements immediately, thus opening up opportunities that would otherwise be inaccessible to a new business.

5. Enhanced Market Presence with Aged Corporations

An aged corporation can provide a significant advantage in terms of market presence. Being able to state that your business has been around for several years can give you an edge over competitors who have just entered the market. This perceived longevity can also benefit marketing and promotional efforts, as customers may prefer to do business with a company with a proven history.

6. Simplified Supplier Relationships with Aged Corporations

Suppliers and vendors often prefer to work with businesses with a proven track record. An aged corporation can help you establish better terms and relationships with suppliers. These entities may be more willing to extend credit and offer favorable terms if they see that your business has been around for a significant amount of time.

7. Overcoming Start-Up Stigma with Aged Corporations

Start-up companies often face skepticism and scrutiny from various stakeholders. By operating under the banner of an aged corporation, you can effectively sidestep the stigma associated with being a new entrant in the market. This can facilitate smoother negotiations, easier networking, and more seamless integration into your industry.

Conclusion

Acquiring an aged corporation offers numerous benefits, from establishing instant credibility to gaining easier access to financing and better contract opportunities. It’s a strategic move that can save time, reduce risk, and enhance your business’s market presence. If you’re looking to hit the ground running and avoid some of the common hurdles of starting a new business, an aged corporation might be the perfect solution. Consider this option carefully and consult with legal and financial advisors to ensure it aligns with your business goals and strategies. By leveraging the advantages of an aged corporation, you can position your business for success from the beginning.

Pros and Cons Of Outsourcing Payroll Services

Outsourcing payroll services is almost always a good choice for any small business. Managing payroll in-house can be a significantOutsourcing payroll services administrative burden for most companies, especially without the necessary expertise and resources. Outsourcing payroll to a professional service provider can offer numerous advantages that streamline operations and support business growth. Here are the top reasons why outsourcing payroll makes sense:

Save Time

Outsourcing payroll frees up valuable time for employers to focus on strategic initiatives crucial for business growth, such as product development, enhancing customer service, and boosting sales efforts. By offloading payroll tasks, businesses can allocate their resources more effectively.

Minimize Payroll Errors

Professional payroll providers automate many labor-intensive tasks, reducing the risk of errors that often occur with manual calculations and data entry. This automation ensures accuracy and reliability in payroll processing, which is critical for maintaining employee satisfaction and compliance.

Improve Security

Reputable payroll providers invest in advanced technology and maintain robust security measures, including redundant backups and multiple server locations. This high level of security helps protect sensitive payroll data from breaches and unauthorized access, giving employers peace of mind.

Maintain Compliance

Keeping up with ever-changing payroll regulations can be challenging for businesses. Payroll providers stay informed about the latest legal requirements and handle all necessary paperwork and filings, ensuring businesses remain compliant and avoid costly fines and penalties.

Integrate Data

Outsourcing payroll allows seamless integration with other HR applications such as time and attendance, benefits administration, etc. This integration improves data accuracy, reduces administrative workload, and provides easy access to information through a single sign-on system.

Facilitate Employee Self-Service

Full-service payroll solutions often include self-service portals enabling employees to view their pay information, log hours, and manage their withholdings directly from their mobile devices. This convenience enhances employee satisfaction and reduces HR inquiries.

Reduce Costs

While payroll providers charge fees, outsourcing can ultimately be cost-effective. The expertise of professional providers helps avoid the fines and penalties associated with payroll mistakes, potentially saving businesses money in the long run. Outsourcing payroll is a strategic move that allows companies to streamline operations, ensure compliance, and focus on growth. Employers can enhance efficiency, security, and overall business performance by partnering with a professional payroll service.

 

Selecting the Right Payroll Service

Selecting the right payroll service for your business can be a complex task. With many options available, understanding the pros and cons and QuickBooks compatibility is crucial. In this blog post, we’ll delve into seven popular payroll services: Paychex, ADP, Gusto, QuickBooks, SurePayroll, Rippling, and Paycor, with a special focus on their integration with QuickBooks.

 

Paychex

Paychex is a comprehensive solution catering to businesses of all sizes.

Pros:
User-friendly payroll
Garnishment payment service included in some plans
Customizable plans
Tax filing included

Cons:
Additional fee for W-2 and 1099 filing1
A separate platform is needed for time-tracking
Customer support could be improved
QuickBooks Compatibility: Paychex offers a seamless integration with QuickBooks Online, allowing for easy transfer of payroll data.

 

ADP

ADP is a comprehensive solution for HR professionals aiming to streamline operations.

Pros:
Automated payroll and tax filing
Excellent health and retirement plan options

Cons:
It can be costly for small businesses
It may be complex for entry-level HR personnel
QuickBooks Compatibility: ADP integrates smoothly with both QuickBooks Online and Desktop versions2.
Gusto
Gusto is a full-service payroll and HR platform designed for U.S.-based startups and small businesses.
Pros:
Easy automation of payroll management
Value-for-money plans
User-friendly interface

Cons:
Limited benefits options
No mobile app for payroll management
QuickBooks Compatibility: Gusto works seamlessly with QuickBooks, allowing for smooth data transfer.

 

QuickBooks

QuickBooks Payroll is a cloud-based service that integrates with QuickBooks Online.

Pros:
Benefits administration at all levels
QuickBooks Online integration5
Next-day or same-day direct deposit

Cons:
Additional filing fees for Core and Premium plans
Limited integrations without QuickBooks Online
SurePayroll
SurePayroll is an online payroll processing company that provides small businesses an easy and affordable way to manage their payroll6.

Pros:
Affordable pricing6
Generous six months free trial
Support for household employees

Cons:
Limited integrations6
No time and attendance tools
QuickBooks Compatibility: SurePayroll supports integration with the current and two previous versions of QuickBooks7.

 

Rippling

Rippling is a full-service HR software solutions provider that can meet the needs of teams from two to more than 2,000 employees.

Pros:
All-in-one HR solution
Easy to set up
Highly customizable

Cons:
It can be pricier for essential payroll management
Requires a custom quote
QuickBooks Compatibility: Rippling integrates with QuickBooks, allowing for the automatic generation of a general ledger file that connects all your payroll data to QuickBooks8.

 

 

Paycor

Paycor is a great option for small- and medium-sized business owners who may have companies that are large enough to have a need for professional HR services9.

Pros:
Benefits administration at all levels
QuickBooks Online integration
Next-day or same-day direct deposit

Cons:
Additional filing fees for Core and Premium plans
Limited integrations without QuickBooks Online
In conclusion, each payroll service has strengths, weaknesses, and compatibility with QuickBooks. When choosing a payroll service, it’s crucial to consider your business’s specific needs. Whether cost, ease of use, particular features, or QuickBooks compatibility, the right payroll service can significantly impact your business operations.

 

 

Pros and Cons of Outsourcing Payroll Services

  1. Comprehensive Services
    • Wide Range of Solutions: Payroll services typically offer a broad array of solutions beyond basic payroll processing, including HR management, benefits administration, and time and attendance tracking, making them a versatile option for various business needs.
    • Scalability: These services can be used by businesses of all sizes, from small startups to large enterprises, providing scalable solutions that grow with your business.
  2. Ease of Use
    • User-Friendly Interface: Most payroll services are designed to be intuitive, allowing users to navigate quickly and manage payroll with minimal training.
    • Employee Self-Service: Many payroll services include portals where employees can access their pay information, log hours, and manage withholdings, enhancing convenience and reducing administrative workload.
  3. Compliance and Accuracy
    • Regulatory Compliance: Payroll services stay up-to-date with federal, state, and local payroll regulations, ensuring your business remains compliant and reducing the risk of fines and penalties.
    • Accurate Payroll Processing: Automated processes help minimize errors with manual payroll management, ensuring accurate and timely payments.
  4. Customer Support
    • Dedicated Support: Payroll services often provide customer support through multiple channels, including phone, email, and live chat, with options for dedicated account representatives.
    • Training and Resources: Many services offer training materials and resources to help users understand and maximize the use of their features.
  5. Security
    • Data Protection: Payroll services employ advanced security measures to protect sensitive payroll data, including encryption, secure servers, and regular security audits.

Cons

  1. Cost
    • Pricing: Payroll services can be costly, particularly for smaller businesses or those with tight budgets. Fees can add up quickly with additional services.
    • Complex Pricing Structure: The pricing structure can be complex and may include various fees for different services, making it difficult to predict total costs upfront.
  2. Customization Limitations
    • Limited Customization: While many payroll services offer a wide range of features, customization options can be limited, potentially making them less suitable for businesses with unique or particular payroll needs.
  3. Integration Challenges
    • Integration Issues: Some users may experience difficulties integrating payroll services with other software applications, hindering seamless data flow across different systems.
  4. Customer Service Variability
    • Inconsistent Support Quality: Although payroll services offer multiple support channels, the quality of customer service can be erratic, with some users experiencing delays or less helpful responses.
  5. Learning Curve
    • Initial Setup: The initial setup and onboarding process can be time-consuming and may require significant input from the business to tailor the system to specific needs.
    • Training Required: Despite user-friendly interfaces, some users may still require training to utilize all features and capabilities fully.

Payroll Management Services

Outsourcing payroll services can be a comprehensive, reliable solution for businesses looking to streamline their payroll and HR functions. The ease of use, robust compliance features, and extensive support options are significant advantages. However, the cost, potential customization limitations, and variability in customer service quality are essential considerations. Businesses should carefully weigh these pros and cons to determine if a payroll service fits their needs.

Entrepreneurship: The Art, Science and Process For Success

Entrepreneurship: The Art, Science, and Process For Success 

Entrepreneurship: The Art, Science of and Process For SuccessEntrepreneurship: The Art, Science of and Process For Success Volume 4 is a collection of some of the most innovative minds. It is a best seller in the work-life balance category. The book shares secrets to financial freedom, unprecedented personal success, and unlimited human potential. This book will uplift, empower, and motivate you to take action to fulfill your dreams.

 

The majority of The World is Stuck in a Rut

 

Most people die long before they are buried. The majority of the world is stuck in a rut of life. They go to a job that isn’t fulfilling and associate with toxic people. They struggle with getting ahead and don’t know what to do next. This book offers principles you can use right away, but there is no magic formula for success. While this book is a best-seller and gives insights, strategies, and principles to achieve your true potential, it can only work if you commit to adopting the principles. The Art and Science of Success can help you take your life to another level. It may not happen overnight, but through continuous learning, you will get the change you need.

 

About The Authors

Entrepreneurship: The Art, Science of and Process For Success Volume 4 is a collaboration of 26 authors. The writers come from worldwide to share their wisdom and life experiences. Consider this book a success contract, and you are invited to invest in yourself and get a copy of The Art and Science of Success today. You may also be interested in Seven Pillars to Profit, a great companion book.

 

entrepreneurship the art science and process for success

How to Grow Your Business

Knowing how to grow your business is one of an entrepreneur’s most important business skills. A company that isn’t growing risks reduced profitability or going out of business. A company that is growing can reinvest in the business and its people. This creates an environment where businesses and people constantly improve and produce better products and services. This article will discuss three concepts that will show how to grow your business:

 

1. Understanding Customers 

Building a successful business starts with thoroughly understanding your customer base and your specificHow to grow your business market. The time you take to learn who your audience is and what they want will pay dividends for years to come. You should understand what their specific needs or problems are and be able to provide a solution for them. Creating value for your customer is a key tip for starting and maintaining a successful business.

 

Know The Marketplace

This is where understanding your market comes into play. Successful entrepreneurs have a thorough knowledge of their market and effectively apply this knowledge to increase their footprint and profitability. You need to ensure that the product or service you’re selling is something people actually want and need. Understanding your market also includes researching your competitor’s demographics, determining what your company does best, and focusing on that. Studying your customers and the marketplace puts you in the position to offer them something they cannot find anywhere else. This can be done through services that meet or exceed their needs or by providing affordable alternatives.

 

2. Access To The Right Team and Resources.

Businesses come in all shapes and sizes, so there’s no one-size-fits-all approach to growing a business. However, there are some basic things that all companies require to thrive: Building the right team around you is a critical factor in growing. Placing the right people in the right position is crucial but is not limited only to employees. This also includes the people who are advising you or who you have a synergistic relationship with, such as mentors, attorneys, accountants, business consultants & networking with other entrepreneurs in your industry, etc… The saying “it takes a village to raise a child” also stands true for “it takes a village to raise a business.” In addition to creating the right team, it is equally important to have access to the right “tools” to help build your company. For instance, it does not matter what industry you are in you should be making use of online tools like Google Sheets or Facebook Insights; media platforms like LinkedIn, Twitter, Instagram, Facebook, etc.

 

3. Have A Plan.

A key strategy in growing your company has a business plan. Your business should be designed to become more profitable while growing. An effective business plan should have details on your target market, product or service, and financial goals. Set realistic goals, but challenge yourself to improve. Keep track of ideas, projects, and key metrics and always look for ways to increase efficiency, i.e., outsourcing, automation, technology, etc.

 

Conclusion

To continually grow a company takes planning, discipline, and execution, among other things. Growing usually means increasing sales, raising prices, getting more customers, etc. But, it can also be done by acquiring another company in the same industry. A plumbing company might buy a smaller plumber company for its customers. Growth by acquisition is an excellent way to maintain steady growth. Every business owner has to create strategies that work best for their situation.  Be prepared to work harder and longer than you might think. Constantly exposing yourself to tips and strategies for growing your business will maximize your company’s success.

Writing a Business Plan

Writing a Business Plan For Funding

Tips on Writing a Business Plan

A business plan is a document that tells the story of your business from start to finish. It can help you determine your goals, identifyWriting a Business Plan your competition, and develop marketing and financial strategies. When starting a new business, it can be difficult to determine what steps to take for your startup to reach its full potential. This is especially true if you have no prior experience or knowledge in the business or the specific industry. Fortunately, several resources can help you develop a business plan for your new startup. The following resources can provide the information and guidance needed to create a sound business plan for your new venture.

 

Business Plan Resources

Business planning software: There are many different types of business planning software available, so it’s important to choose the one that best fits your specific needs and goals. You should also research the various features available, as some tools offer more than others. Also, look for free tools and templates.
Money management tools: Money management tools can play an incredibly important role in any startup, and they should be used as much as possible to improve your overall financial stability. Many different money management tools are available, so it’s important to find
Excel Spreadsheet: Google sheets or excel spreadsheets can be used to show graphs and tables. Writing a business plan requires a written plan in addition to financial projections. The business plan should include financial projections for different time frames, often referred to as Pro forma Financial Statements.

Small Business Administration (SBA): The SBA offers free resources to assist you in creating a business plan. They offer help in market research, financial calculations, funding, and more. Here is a list of Market Research Links offered by the SBA.

Business Planning

Careful business planning is critical to maximizing the potential of a business. More importantly, a business plan greatly reduces stress levels, which ultimately will cause personal and business ruin. A business plan allows for focus on the execution of the activities that bring the most value to the business. The Small Business Administration (SBA) has reliable sources for small business data trends. 

 

Business Plan Template

 

Business plans should be a work-in-progress. Even successful, growing businesses should maintain a current business plan. Many resources are available to assist in developing a business plan; however, the principals must roll up their sleeves and do much of the heavy lifting. Professionals and software providers can help produce the business plan, but the principals must fully own it. If the principals don’t own the plan, it will likely be a document that doesn’t get looked at after the bank financing comes through or the exercise is complete. Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice. Contact us if you want a done-for-you solution where we write it for you. Schedule a call using the link below:

Done for you business plan writing

Small Business Mergers and Acquisitions

Small Business Mergers and AcquisitionsSmall Business Mergers and Acquisitions

Small business acquisitions and mergers are one of the fastest, safest, and easiest ways for companies to grow. A well-managed acquisition strategy can help avoid waiting for organic growth and associated risks. It can be less costly than hiring new salespeople, higher advertising costs, equipment costs, and other expenses necessary to grow organically. The acquisition strategy is usually limited to large corporations and big businesses, but it works just as well or better for small businesses. An acquisition strategy allows any company to scale regardless of size or capital available. Every deal is unique and involves more than just capital. Deal-making requires creativity, flexibility, and understanding of the impact on your balance sheet. Profit and Loss and cash flow should also be part of the calculation in making an acquisition.

 

Some basic questions should be considered before making a business acquisition:

What is the ROI?

How easy is the new company to integrate into the existing enterprise?

How long would it take to grow to the same size without the acquisition?

Are strategic benefits like gaining skilled workers, customers, vendors, equipment, brand, etc.?

Are you able to create a proper integration plan?

What will be the short-term and long-term impact on financials?

 

Business acquisitions should be made without disrupting the target companies’ operations and processes, thus reducing the time to maximize profits. Making acquisitions is not hard, but it does take knowledge of due diligence and experience. It is a good idea to seek an intermediary or advisor to assist in the process. There may be other benefits, but the main reasons for acquisitions are access to new customers and revenue streams. Business acquisitions are one of the fastest, safest, and easiest ways for companies to grow. A well-managed acquisition strategy can help avoid waiting for organic growth and associated risks. It can be less costly than hiring new salespeople, higher advertising costs, equipment costs, and other expenses necessary to grow organically.

 

Small Business Mergers and Acquisition Strategy

The acquisition strategy is usually limited to large corporations and big businesses, but it works just as well or better for small businesses. An acquisition strategy allows any company to scale regardless of size or with limited. Every deal is unique and involves more than just capital. Deal-making requires creativity, flexibility, and understanding your balance sheet. Profit and Loss and cash flow should also be part of the calculation when making an acquisition.

 

The Two Major Benefits of Small Business Mergers and Acquisitions

Business acquisitions should be made without disrupting the target companies’ operations and processes, thus maximizing profits. Making acquisitions is not hard, but it does take knowledge of due diligence and experience. It is good to seek an intermediary or advisor to assist in the process. There may be other benefits, but the main reasons for acquisitions are access to new customers and revenue streams. Schedule a call with us if you have questions about small business mergers and acquisitions, click to schedule a call.

 

Small Business Mergers and Acquisitions

Small Business Marketing & Sales Strategy

Small Business Marketing & Sales Strategy

Every business needs Marketing. Marketing is not sales, but you do need both for any business to survive and thrive. According to Wikipedia, Small Business Marketingmarketing is the strategy that underlies sales techniques. I describe marketing as all of the activities that bring qualified buyers to your sales process. If you had an electronics store, your marketing would get qualified buyers to the store. Then your sales staff would explain the product’s features and benefits and close the sale. 

 

Marketing is a System

Marketing is a system that supplies a steady stream of qualified buyers or prospects to your sales process. I recommend using a Contact Relationship Management (CRM) if you’re not using one already. This description applies to sole entrepreneurs and large companies. You may be the same person doing multiple functions, or different departments may carry out this function. Parts or all of the functions may be outsourced. While the marketing function can be outsourced, management must have an intimate knowledge of how the marketing program works.

 

Marketing Shelf Life

No matter your marketing or how well it performs, its performance can fall off faster than you might think. Markets change, consumers change, and so should your marketing. Don’t make drastic changes without testing, but realize nothing in life is sure except change, and the rate of change will continue to accelerate. Moore’s Law says the number of transistors that can be put into a circuit doubles every two years. These same chips are powering the computers that are changing the business world and marketing. 

 

The Sales Funnel

Improve or create a sales funnel for your company. A sales funnel configured correctly will automate your marketing and help you scale your income automatically. Your sales funnel maps out a customer’s journey when purchasing your goods and services. The model uses the concept of a funnel because a large number of potential customers may come to the top of the funnel, but few end up making a purchase. Having just a few percent purchase your product is typical. The primary stages of a sales funnel are:

Awareness
Interest
Decision
Action

 

Small Business Marketing Help

Russell Brunson, the author of Traffic Secrets is an expert at building sales funnels without having to be a techie or hire experts. He is a big advocate of funnel hacking to perfect your sales funnel. Constructing a sales funnel is not difficult if you follow the steps. There is a lot of information on the internet that tells you everything you need to know about constructing or improving an existing sales funnel.

Small Business Assistance

Small Business Assistance

Small Business Assistance

 

Bizprofitpro offers small business assistance to help entrepreneurs plan, launch, manage, and grow businesses. We define the elements of companies by pillars. We identified Seven Pillars which are: Finance, People, Operations, Leadership, Change Management, Marketing, and Sales. We published a book on Amazon.com titled Seven Pillars to Profit – A Blueprint for Small Business Owners that offer insight into our business philosophy and the services that we deliver. We execute the best practices to grow any company.

 

All of our services are designed to increase revenue and profits in any business. Our services are designed to pay for themselves in cost savings or increased profits. We only recommend services that have an acceptable return on investment (ROI). We accomplish this by offering assistance in areas, which include small business advice, small business resources, and small business assistance. Here are our core services that are customized for your business:

 

Marketing

Search Engine Optimization SEO
Pay per Click Advertising PPC
Landing Page Development
Website Development
Logo Creation
Social Media
High Impact Marketing
Keyword Research
Google Analytics
Content Creation

Sales

Google Adwords
Microsoft Advertising (formerly Bing Ads)
Sales Funnel
CRM Training & Installation
Sales Training
Trade Shows
Business Presentations
Sales Calls

 

Finance

Accounting
SBA Loan Applications
Business Funding & Credit
Business Valuation

 

Human Resources

Job Descriptions
Staffing Solutions

 

Operations

E-Commerce Site Development
Benchmarking
Project Management
Business Coaching
Business Plans

 

We help businesses become more profitable by increasing revenue. We offer a free review of any area in which you are seeking help for your business. We recommend the best course of action that meets or exceeds your objectives. The sooner you take action to increase your profits the sooner you can start enjoying the benefits of more cashflow, more revenue, more profits, and less financial stress. Schedule a time at your convenience to discuss how we can start increasing your profits.

 

Small Business Assistance

click here

 

Marv White

Marv White is a Managing Partner at Bizprofitpro, a business strategy and exit planning firm. He helps entrepreneurs with small business assistance, raising capital, and improving financial health. He is also a best-selling author, speaker, and business coach.  

How To Assemble The Perfect Remote Team

It’s more important to know how to assemble the perfect remote team. The argument for a complete in-house, in-office team of staff is becoming weaker because of COVID-19 and how businesses have adapted. Most tasks can be effectively outsourced to freelancers and dedicated companies, reducing costs and boosting flexibility. By identifying which of these tasks you want to outsource and investing in the tools to manage people remotely, you can build the ideal distributed team for your company.

Identifying Your Remote Roles

First, you need to decide which tasks within your company are most in need of outsourcing. These can be jobs beyond your skillset that you don’t enjoy or would simply benefit from professional expertise. The most important thing, however, is that freelancer roles are well-suited to remote work. Common examples include:

● Web & Mobile Developer – Coding is a foreign language to most people, which is why web development is one of the most popular jobs to outsource. Even if you use a user-friendly web builder for your website, a developer can use a specific coding language to personalize it beyond the basic templates, like CSS for Squarespace or PHP for WordPress.

● SEO Expert – High-quality SEO is one of the most reliable ways to drive traffic to your website. Not only does it increase conversion rates, but it can help establish brand awareness and credibility.

● IT Support – In-house IT support is a big expense that most businesses, especially smaller ones, don’t need. Remote support is the most cost-effective solution. You can expect to pay $60 to $85 per workstation per month for remote help desk packages, which include anti-virus, anti-spam, and remote access.

 

Freelancer, Employee, Or Company?

 

Once you have identified what jobs you want to outsource remotely,freelancer employee Or company bizprofitpro you need to figure out what model you will use. Your main choices are hiring a freelancer, hiring an employee, or hiring a company with its team of workers.

The trickiest decision is choosing between freelancers and employees. According to Forbes, freelancing works best for short-term projects, one-off jobs, and anything that doesn’t involve a 9 to 5 commitment.

However, this isn’t a hard-and-fast rule: for example, a personal assistant is a job you would usually associate with traditional employment, but you can hire experienced remote assistants who can do a similar job to a traditional assistant – fielding phone calls, managing data entry, arranging your schedule – but with much more flexibility.

As for companies, there are several situations in which they are particularly useful. For example, when it comes to marketing and branding, there are several benefits to hiring a team like Rogue Creatives. Not only do you get a fresh, outside perspective, but you can also rely on the creative talent of several experts without having to pay for each one individually.

Choosing The Right Tools

Once you have figured out who will comprise your remote staff, you must invest in the tools to manage them effectively. You will need:

A way to communicate with them regularly. Email and Skype can work fine for individual freelancers, but for larger teams, you should consider a platform like Slack.

● A tool to keep track of invoices and payments, like a spreadsheet or, for more complex cases, some accounting software like FreshBooks, Intuit Quickbooks, or Xero.

● An established strategy for keeping track of their progress, whether it is daily updates or a time-tracking application.

 

Entrepreneurs need to be able to do whatever it is they do best. This means recognizing their blind spots and knowing when to delegate. You need to surround yourself with the best people, and the best people can be found all over the world. We are lucky enough to live in a globally connected world, where all of the world’s talent is accessible in a few clicks – take advantage of it!

 

Tina Martin is a Copywriter, Life Coach and author of IDEASPIRED

Business Coach

Small Business Coach

marv white bizprofitproOur business is your profit. Our no non-sense business coach will be focused on increased profitability from day one. You can stop worrying about cash flow,  payroll, retirement, or personal expenses with your custom blueprint to achieve more profit. You will get the support and accountability you need to get more time and money from business ownership.  I am the author of Seven Pillars to Profit which is a blueprint for small business success and is the basis of this program. Get my book free by booking an introductory call so you can start getting results immediately. We don’t talk about theory, we talk about action and what you can do in hours and days to start earning more money in your business. Many things you can start in the next 24 hours with little or no costs and get immediate results.

Steps To Improve Your Business

1 – After you sign up, you get a link you can use for the next full year to schedule as many 15-minute Bizprofitpro Express Coaching™ sessions with me as you like.

2 – We start with a 30-minute introductory call to talk about where you are in your business, and what your goals are for the coming year. You will get more clarity and focus after the very first call.

3 – Then, during each subsequent 15-minute call, we’ll discuss your progress and agree on what you need to do next. We focus on simple action steps that lead to significant results. 

4 – After each call, I send you an email with a link to a recording of our call, your homework, and the link to schedule your next call.

5 – You can schedule your next session using my personal Coaching Calendar as soon as you’ve finished your homework. That’s our primary rule.

6 – You have one full year to get on the phone with me for as many sessions as it takes to get “Bizprofit Results” and reach your goals.

7 – You also get Unlimited email follow-up for a full year. If you have a question between calls, you can email me any time.

 

What Can a Business Coach Do?

• Increase your revenue without hiring new staff
• Get more sales from your current customers
• Increase your average transaction amount
• Create content for your B2B or B2C company
• Compete successfully with much bigger companies
• Get “unstuck” from a nagging business problem
• Any other business goal you have in mind – After you sign up, you get a link you can use for the next full year to schedule as many 15-minute Bizprofitpro Express Coaching sessions with us as you like.

Get The Results You Want

P.S  Our program is not for everyone as it is rigorous and demanding but it has to be to get the results you want. You will get a free digital copy of Seven Pillars to Profit just for booking an appointment. We go right to work on the free introductory call so you can start getting results from the first call.

7 Pillars to Profit

7 Pillars to Profit by Marv White

Small Business Coach

Click to Schedule a Discovery Call 

 

 

Small Business Owner Tips to Increase Company Value

Small Business Tips to Increase The Value of Your Company  

Increase the value of your companyThis article is written to increase the value of your company. Business owners can increase the value of their business by one to six times in twelve months. Most business owners have much of their net worth linked to their companies, which is often their largest asset. Increasing the value of your business can be the most effective way to create financial security and independence for you and your family. Maximizing business value is critically important, whether you are considering a transfer in the near future or years down the road. Public companies have a fiduciary duty to maximize shareholder value; small businesses should also have a duty to maximize the value of their companies for their own benefit.

 

The value of your business is a measurement of future earnings, assets, and risk. It’s no surprise that healthy companies have higher values in the marketplace. Most business owners focus on profits, as that’s what affords business owners an income; however, the real wealth of a business is in its valuation. The value of the business is the ultimate measure of the financial independence your company will afford you at the time of transfer.

 

Too many business owners focus singularly on profit and neglect the actions necessary to increase the value of their businesses. All too often this gets overlooked until it’s too late when the business must be transferred out of necessity. The business may transfer at only a fraction of its value had it been properly positioned and prepared or may never transfer at all. The U.S. Department of Commerce estimates that 3.6 million businesses are offered for sale every year. Only 250,000 of these businesses are actually transferred. Of the businesses that do transfer to new owners, 80% are sold at less than 50% of their real value.

 

The value of a business can vary greatly due to the illiquid nature of the market for private companies; and in part because of the necessary discretion involved in selling a private company. Unlike real estate, owners can’t put up a “for sale” sign and advertise their business. The business would likely suffer if competitors, customers, employees, and vendors learned that your business was for sale. If you follow just some of the techniques in this report, your business will be better positioned and prepared for a transfer whenever the time comes.

 

Some businesses may take years to prepare and position to reach a satisfactory value; so it is imperative to be as diligent about business valuations as you are about profits. The value of a company is a measurement of earnings potential, assets, enterprise risk, and other factors. It’s no surprise that companies with the greatest profit potential get the highest valuations in the marketplace.

 

Most owners’ focus on profits, as that’s what affords business owners an income; however, this report focuses on valuations as it usually receives little attention. The valuation of your company is the ultimate measure of how much financial independence your company will give you at the time of transfer. The value of a business can vary greatly due to the illiquid nature of the market for private companies. This is due in part to the necessary discretion involved in selling a private company, limiting the pool of potential buyers. Unlike real estate, owners can’t put up a “for sale” sign and advertise their business. The business would likely suffer if competitors, customers, employees, and vendors learned that your business was for sale. Transferring a business is a process that takes time. The time to start thinking about a business transfer is long before you have any thoughts of actually doing it. The consequence for not doing so can have enormous financial implications. Download the free report to quickly increase the Value of a company 1 to 6 times.

BUSINESS GROWTH

Business Growth for Small Business 

business growth bizprofitproWe help companies with business growth by generating more leads for clients’ products and services. We apply a 3x Sales and Marketing Tool to help companies exceed revenue targets and improve profitability. What worked a few years ago isn’t working today. We use a world-class state of the art marketing and sales system, so your business dominates your competition. We analyze your ideal client and understand what motivates them to buy your product or service. This allows us to create the blueprint that delivers steady leads to your business. Our 3x Sales and Marketing Tool is a customized strategy for your company. Our plan is designed to increase your revenue three times from where your business is today.

 

Factors Affecting Business Growth

Business growth requires an understanding of many factors, including your competition, customer acquisition cost, scalability of your product or service, your offer, and much more. Our tool is designed to focus on the factors that generate leads that convert into sales. You will be armed with the knowledge and strategy to dominate your competition.

 

“I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard.” – Estée Lauder

 

Custom Business Growth Blueprint

We can create a custom blueprint for your business that generates more leads and more clients faster and more consistently.  We will design and deliver a custom plan to 3X your business at no cost and with no obligation. Every business will grow with our 3x Sales and Marketing Tool. The speed at which a company grows depends on many factors, including production, human resources, inventory, sales cycles, etc… Every business is unique, which is why every plan is customized for the company.

 

Business is Dying If Not Growing

Every business must be growing, or it’s dying. Business Growth requires more sales, and more sales require more leads. When your business can generate leads, you control your financial destiny. So many companies never figure this out, scrape by, and never stop struggling to get the financial freedom that entrepreneurship is supposed to deliver.

 

 

Contact Us For Business Growth

Contact us if you want to grow your sales and profits.  We are happy to execute your 3X blueprint, or you can implement the program and enjoy the benefits. You win either way! Click or call to schedule a free consultation for your customized  3X Sales and Marketing Tool today.

 

A plan for business growth registration

Do you Wake up Excited About Your Business?

ENTREPRENEURIAL OPPORTUNITIES

entrepreneurial opportunitiesAre you evaluating your entrepreneurial opportunities? If you are reading this message, I suspect the answer may be “YES!”  You are contemplating buying or selling a company or a big business decision. Maybe you’re contemplating starting a new business. These decisions are really big ideas to contemplate and ultimately will require a major life-altering DECISION on your part, a decision that may bring a whole slew of mixed emotions from excitement, uncertainty, fear, worry, and doubt. If you are contemplating moving forward with exploring these options around buying a business, selling a business, or any business decision, I urge you to keep reading. You may feel like you have been stalling out on the serious pursuit of these life-changing decisions. If you want to take charge of your life, make quantum leaps in your success, and finally see the results you are longing for, I want to introduce you to someone who can help guide you to making the right move.

 

 

Listen to this record several times over, but don’t just listen; really study it. You’ll be glad you did!

 

Is This You?

• You wake up each morning, and you don’t have that drive and enthusiasm to get out of bed…
• You look at areas of your life and are dissatisfied but don’t know how to change them…
• You know that you were meant for something different, something greater…
• You have a big idea that you have wanted to pursue, but you have no idea how to make it happen…
• You know what you want to be, do and have in your life but doubt you can get there…
• You have a burning desire to make a difference in this world and to be of service in some way…
• You are afraid or apprehensive about stepping up, playing it big, giving it your all, making that leap…

 

I suspect if you are still reading, one or more of the statements above probably resonates with you. If you find it difficult to move forward with a decision to buy or sell a company or make a big business decision, we can help you get unstuck. We have a program that is a time-tested blueprint that allows you to access the untapped potential. Our experience with process improvement, systems analysis, technical and professional training, and organizational leadership brings a diverse skill set that effectively understands business challenges and opportunities.

 

If you want serious results in your life, if you desire to take that leap and buy that dream business or sell your company to pursue a new path, you need to ignite the change where your results are created in the first place. You need to change your mind! I invite you to schedule a Free Discovery Call and explore how you can get the results that you truly desire as you navigate the business buying or selling decision. Our services will set you up for phenomenal success and quantum leaps in your results. Click here for a free consultation.

 

entrepreneurial opportunities

Small Business Profit

Small Business Profit Blueprint

small business profit

Small business profit was the reason Seven Pillars to Profit was written. People are willing to launch or manage a business offering a product or service while taking risks to make a profit. Entrepreneurs have the willingness to have big ideas and daring to execute them. Entrepreneurs don’t see the world as it is but as it can be. If this describes you or your future self, this is for you. My name is Marv White, and I am the author of Seven Pillars to Profit: Your Blueprint for Small Business Success. This is a personal journey on how I got my business to deliver the wealth, lifestyle, and freedom we all deserve. Countless entrepreneurs are working.

 

Working On The Right Things

tough and sacrificing everything to make their businesses provide the money, lifestyle, and freedom they want. This is the point of starting a business in the first place. We are taught at a young age that hard work will be rewarded. If we work harder, we can be successful, but it isn’t true. Busting your hump and sacrificing family time, personal time, and finances can lead to little or nothing in return or even debt. Working harder is not what makes you successful. Success is achieved when you start working on the right things and stop working hard on the wrong things. My book Seven Pillars to Profit is the blueprint for working on the right things. Make your business more successful than you ever dreamed, not by working hard but by working on the right things. My blueprint is not about working hard; that is not what makes a success. Working on the right things will get you to the tipping point. The tipping point is when things become so comfortable that what once was work is abundant opportunity. Some might say that legendary entrepreneur Elon Musk works hard with 13 billion in net worth and is the founder of Tesla, Paypal, and SpaceX. He has abundant opportunities and has not worked for a long time.

The Tipping Point

This tipping point is what Michael Gerber describes in his book E-Myth about working on your business and not in it. You no longer worry about your company because you have implemented systems so your business can grow without any day-to-day input. You don’t have to grind and fight for every percentage of growth because your business is built to do this automatically. Your business becomes a machine that delivers the financial rewards, freedom, and lifestyle you deserve. This does not take genius and is not hard to do. It takes discipline to work on the right things.

Sledge Hammer Versus Smartphone

The tipping point is a shift from analog to digital thinking. Analog thinking is where you look for a faster horse that can gallop at 30 miles per hour versus 25 miles per hour. Digital thinking goes from struggling to get a horse to 30 mph to achieving 180 mph in an electric car. Analog is uncertain, with many variable results, while digital is precise with little variability. Digital thinking doesn’t require six times the energy to go from 30 to 180 miles per hour. It takes a fraction of the energy of analog thinking. Many use a sledgehammer for tasks when they should use a smartphone.  Seven Pillars to Profit was written because I was stuck in the analog world. Being hell-bent on outworking everyone and growing the business through sheer will. Always being the first to arrive at the office and the last to leave. Pushing past exhaustion and wearing it as a badge of honor. It made me feel like I was earning my bones as an entrepreneur and worthy of success, but I was wrong!

 

Blood, Sweat & Tears

My business defined me, and it was one of the most essential things in my life until my mother became ill. Now, the business meant little as I packed an overnight bag one Saturday and boarded a plane for Florida to be with my mom. I stopped caring and walked away from the business I had built from scratch with blood, sweat, and tears. At the time, the fledgling business had about a dozen employees and a staff that consisted of a bookkeeper and a supervisor. I left my business in the hands of my team without even telling them I was leaving. I didn’t talk to them for days and wasn’t thinking; I was acting on emotion. On an unconscious level, the belief in the back of my head was that the business would fall apart, but I felt that after the dust settled, I could rebuild. After a couple of weeks, I told my staff I would be gone indefinitely because I would be helping take care of my mom. Still, I was also in an emotional free fall and could not do anything else, never mind running a business.

 

Turning Point

This was my turning point. I was the guy wishing for a faster horse. My days used to be filled with angry customers, no-show employees, payroll, fighting the landlord, collections, begging for new business, etc. Does any of this sound familiar? I spend much of my time officiating daily squabbles between my supervisor, bookkeeper, and employees over petty matters. These would be the people who would run the business. Indeed, this was a train wreck, but I didn’t care and had no choice. Over the next several weeks, my staff would send me accounts payable and accounts receivable reports from QuickBooks and bank statements. I was shocked to learn that sales did not fall off a cliff and bank balances were climbing. As time passed and the business was doing well without me, it became evident that most of what I did didn’t make any difference. I was swinging a sledgehammer in my business and was only catching air. I was humbled that the only things that seemed to get results were what I did in the business, not the “work” I did. It was the 80/20 rule in full effect. 80% or more of the work I was doing in the business was a waste of time, although physically and mentally exhausting. I went from working hard in my business to doing nothing! And the company was doing as well or better than I was there.

 

Getting What You Deserve From Your Business

This experience proved that working hard is not the key ingredient to getting the money, lifestyle, and freedom you deserve from your business. The key to a successful company is working on the right stuff. It’s about transforming your workflows to digital instead of analog. Get Seven Pillars to Profit and the blueprint to take your business success to the next level today. Take the leap from horses to electric cars.

 

Buy 7 Pillars to Profit

What People Are Saying About Seven Pillars to Profit

“Marvin White demystifies the process of running a small business with three unique processes and seven specific pillars that, when applied, will take your business to the next level and reignite your passion for what you do! This book will change the way you approach business FOREVER!”

Michael Hellickson
Virtual Assistant Staffing

“Marvin White has the experience to help any Business Owner succeed; his new book dramatically and effectively shares this experience concisely and effectively. Any business owner who wants his navigation in the rough seas of entrepreneurship to happen with more ease and less struggle would profit greatly by reading Marvin’s book and engaging its principles!”

Thell Prueitt
Best-Selling Author of The Art and Science of Success: Vol. 2

 

“I believe the Seven Pillars to Profit concept is a refreshing way to look at a business. It allows entrepreneurs and business owners to apply a systematic approach to improve their businesses and gain more profit.”

Robert G. Allen
Author of Nothing Down, Creating Wealth, Multiple Streams of Income, and The One Minute Millionaire

“Marv’s Seven Pillar Profit Model will put you on the high road to entrepreneur success. Incorporate these Seven Pillars to impact your business and achieve your destiny positively.”

Patrick Snow
International Best-Selling Author of Creating Your Own Destiny and The Affluent Entrepreneur

 

small business profitMarv White is the Managing Partner at Bizprofitpro and the author of Seven Pillars to Profit: A Blueprint for Small Business Success.  He holds a BS in Chemical Engineering with a minor in Economics. He has owned and advised numerous businesses, including start-ups, sole proprietorships, and large enterprises. He firmly believes that entrepreneurs and business leaders are special people who see the world as it can be and not as it is. Marv White has published over 150 articles about small businesses and related topics, including business exit strategies, growth by acquisition, and other issues.

 

small business profit

 ©Copyright 2024 www.bizprofitpro.com All Rights Reserved.


5 Things to Do Before Lunch That Will Grow Your Business…

business team running and competing for success bizprofipro

Staying on top of your business and its growth doesn’t have to be such a grind. It may feel satisfying to work more hours than anyone else, it really may not be necessary. Here are five things you can do to grow your business without burning any midnight oil. In fact you may be done by lunch.

1. Stay in touch with your clients – The best way to systematically contact your clients is using some kind of contact management system. Salesforce.com is the leader in contact management software, but there are many great alternatives if you don’t want to go with salesforce.com Infusionsoft.com, SAP.com, NetSuite.com, Zoho.com are alternatives. A CRM system systematically places prospects or leads into your sale funnel and you scheduled events like phone calls, meetings, visits and proposals so you can organize a great many clients at different stages of your sales funnel.

2. Maintain social media presence- Whether you like it or not, social media is a part of every business and you need to be a part of it. Some businesses like retail may be able to sell using social media, but many won’t be able to sell due to complexity of the product or service or the audience may not be decision makers, etc… However, the benefits may come in the form of brand awareness, authority, or trust factor to name a few. Social media is an investment that may take several months or years to directly benefit, but the alternative is to be at a distinct disadvantage to those businesses that made the investment. There are a countless number of social media tools but Hootsuite.com, SocialOomph.com, SocialMention.com are popular tools that many businesses use to manage social media. These tools allow for automation and research to make social media quick and easy.

3. Schedule networking- Social media has its place, but there will never be a substitute for face to face interaction. Schedule yourself for at least 2 local networking events per month or more depending on your industry and your results. These websites make it easy to pick events that will get your business the biggest boost. Meetup.com, Eventbrite.com, Facebook.com, Netparty.com, Twtvite.com, and eventful.com to name a few. Remember “your network equals your net worth”.

4. Find new leads – For any business to thrive it is imperative that you are constantly getting new customers to continue to grow your business. Every business should have a systematic way of getting new leads so that your sales funnels will continue to develop new customers. Finding leads will require different activities depending on the industry that you are in. Retail may rely heavily on advertising while a manufacturer may rely on trades shows. BJ’s Wholesale Club gives free in store samples to push certain products and I have more than once taken the bait and put something in the cart that was a direct result of the free sample. Find what works for your business in systematize it and do it regularly.

5. Stay up to date with technology – Technology is changing at hyper speed. Understanding and applying technology in your business will allow you to spend less time doing critical tasks that are required for a healthy business. Technology like gotomeeting.com or join.me allow remote collaboration with colleagues, customers, and prospects, etc… Google Drive, Dropbox, Evernote.com allow you to organize information and share with whoever you like as needed. These are just a few technology offerings that can make your day much shorter while making more profit. The biggest change to growing your business in less time is changing your mindset… Approach your day as you only have 4-6 hours to get everything done. Work has a way of filling up every available moment with mental and physical exhaustion marking the end of the day. This is unproductive and no fun compared to accomplishing planned objectives that are strategic to profits and the lifestyle you want to live. Start this change today by going to your calendar and scheduling less hours until your down to 6 hours or less.

SEO For Small Business

The 6 Essentials of SEO for Small Business

 

1. What is SEO for Small Business, and how does it work?SEO For Small Business

SEO is a remarkably powerful form of marketing. It affects your business’s overall success, including lead generation, brand awareness, credibility, and so much more. SEO is simply an abbreviation for “search engine optimization.” The term is used to describe how search engines (i.e., spiders) view your website and how they can be managed to enhance your online visibility and position you higher in searches. One of the most efficient ways to achieve this is by using a website search engine optimization (SEO) campaign. SEO, or Search Engine Optimization, is not only one of the most powerful forms of marketing but also the most effective way for your business to reach customers because it’s based on extremely simple principles.

 

2. What are the benefits of SEO for small businesses?

SEO is one of the most powerful forms of marketing for small businesses. SEO helps you get more customers and generate more leads. SEO also helps you get more traffic and converts more visitors into sales.
The benefits of SEO for small businesses are many:

a.) You can increase your traffic by creating a solid online presence.
b.) You can drive more visitors to your website by offering a unique product or service that will be of interest to them.
c.) You can improve your conversion rate by improving the quality of your content.
d.) You can drive traffic to your website through search engine optimization. This makes it easier for people to find what they are looking for and, ultimately, they will come back again when they need it again.
e.) You can increase awareness, which leads to sales, which makes you a stronger brand with better customer loyalty and, ultimately, greater profits than if you were not using SEO in the first place.

 

3. How can small businesses improve their SEO?

Your website is the most important piece of your online marketing strategy. Without it, you’ll have difficulty getting visitors to take action. The best way to improve your SEO is to find out what search engines are looking for when they type in your terms and make your webpage match their expectations. First, you should learn how your site ranks on major search engines like Google, Bing, and Yahoo. Semrush.com is one of many tools you can use for keyword research.  In addition, make sure you use descriptive keywords when possibly using industry-specific terms like “online marketing software,” “e-commerce store management software,” or “web hosting services.” 

 

4. What are some of the most common mistakes small businesses make with their SEO?

SEO is one of the most powerful forms of marketing for small businesses. It’s a proven route to success, but it’s easy to make mistakes with SEO. I recently spoke with one of my clients about their SEO strategy. Their list had over 20,000 keywords, and they only used 10% of them on their website. While using all that keyword-rich content was wonderful, they missed out on other opportunities due to poor keyword choice. They’d only been using SEO for a few months and didn’t know that you can significantly improve search rankings by making your content more accessible via the user interface.

 

5. What are the future trends for SEO?

SEO is one of the most powerful forms of marketing for small businesses. SEO is a key element in a company’s overall marketing strategy and can be highly proportionate to (a) the money spent on advertising, (b) the number of clicks that a particular page receives, and (c) how long a page stays on a particular search engine result page.

 

 

Factors Affecting SEO for Small Business

Regarding SEO, many factors determine how well your business will fare. The first and most important factor is where your business is located concerning search engines. If you are placed at the top of Google’s results, you will receive more traffic than you would if you were at the bottom. The second major factor is how long visitors stay on your website. The longer visitors stay on your website, the more time they spend viewing your site and the more time they spend researching products or services that interest them before making their final decision to make a purchase.

 

Reducing Costs With SEO

Therefore, SEO helps reduce costs and increase sales by providing visitors with more valuable content that can be retained for longer periods. The third factor affecting results from SEO is what keywords are used when searching online for specific products or services. For example: “redhead hair extensions” may not rank high for certain searches because only one keyword phrase may be used in such searches, whereas “natural redhead hair extensions” may rank high but not be used in such searches because two keywords phrases may be used instead: “hair color red” and “platinum blonde hair extensions.”

 

Factors Affecting SEO Results

The fourth factor that affects results from SEO is whether or not users have chosen to link back to your site from their websites or blogs. If users have linked to your site from their websites or blogs, their visits will affect which pages rank higher for certain keyword phrases. Lastly, it also affects how much traffic you receive from search engine crawlers. These crawlers collect data about search engine behavior rather than searching queries and are, therefore, less likely to return any false results when resolving queries.

 

6. How can small businesses make the most of their SEO investment?

SEO is one of the most powerful forms of marketing for small businesses. You can improve your search engine ranking through SEO by targeting keywords such as “SEO” and “small business.” SEO is a great tool for increasing traffic to your site, whether it’s from Google, Yahoo, Bing, or another search engine. You can increase your rankings in several ways, such as using meta keywords, optimizing your site for Google and using SEO Tools to increase rankings on Google.

 

Conclusion

Search engine optimization (SEO) is optimizing your website for search engines. You should know how it works because it helps you rank higher on search engines. This allows you to gain more customers and make more money. It also increases the value of your business. Schedule a call today if you would like to learn how to grow your business using SEO.

 

SEO For Small Business

 

 

Keys To Business Growth

Free Business Growth Strategies

Man talking about business growth

The goal of this article is to share business growth strategies that are free. Business owners can get massive growth in their company quickly by taking action on the strategies found here. The strategies are simple and effective and can be started today. Business growth starts with opening your mind to ideas that you may have never considered or may not be in your comfort zone. Change your mindset, and the growth of your business will start to happen immediately.

 

Requirement for Massive Growth

The first requirement for massive growth is a clear vision of where you want to take the business. It can be revenue, profit, or some other metric component of growth. Regardless of where the business is currently, your vision should be bold. Your vision should border on unachievable, but possible with a solid plan.  You need a bigger vision if you share your vision with people who believe you can do it beyond being kind.

 

 

Getting Help

The first strategy is to get advisors to help you create business growth in your company. Advisors can help you plan and execute your vision. I’m sure you have shared your knowledge with others simply because you were asked. Knowledgeable people enjoy sharing their experiences if they are approached the right way. You need advisors because most of us don’t possess all the knowledge and experience to do great things alone.

 

Finding Advisors To Help You

A great way to find advisors is at trade associations. Professionals in your industry, circle of friends, relatives, and colleagues are other places to locate advisors. Use social media sites like LinkedIn, Twitter, and other sites where people with knowledge and thought leaders are.  Be sure to compensate them in some way to show your appreciation. The compensation need not be financial. Saying thank you and showing appreciation goes a long way. Public acknowledgment on social media, networking events, or any place your community is present. Tokens of appreciation like gift certificates, lunch, tickets to a ball game, or any nice gesture goes a long way. Use your imagination and take the time to find out what your advisors like, after all, they will be a key to your success.

Don’t Reinvent The Wheel

The key to this strategy is the avoidance of solving problems that have already been solved. The CEO of Tesla, Elon Musk, considers Nikola Tesla a personal hero and not a stretch to say an advisor as Nikola Tesla’s work creating induction motor technology made the Tesla Automobile possible. Nikola Tesla died in 1943, but Elon used him as an advisor to build Tesla Motors. Elon Musk didn’t waste time solving the problem of electric propulsion, he used a 100-year-old solution and added innovation to make the Tesla Model S. Motor Trend Car of the year a massive publicly traded company.

 

Virtual Board Members

Your Board of Advisors should be people you can access, but there are instances where you need specialized experience that you can’t access other than through the person’s past work. Any person or body of work that you can draw from can be considered for your board. Nikola’s published works on induction motors were enough to build the Tesla Model S.

 

Meeting With Your Board

Establishing a board of advisors shouldn’t be difficult. It can take on any form that allows regular meetings and benefit from the board’s experience. It can be formal, following protocols and keeping minutes, or informal. Be flexible and make it easy for your board to participate. Consider using technology to meet online, by phone, etc. Remember, they are doing you a huge favor, so it shouldn’t be burdensome on them. 

Mastermind Groups

Ben Franklin established a mastermind group in 1727. A mastermind group is a group organized around mutual improvement. Napolean Hill also used it in his classic book “Think and Grow Rich.” He describes a Mastermind Group as “the coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” Mastermind groups offer mutual accountability, brainstorming, and constructive criticism, and everyone in the group is invested in helping each other.

 

Conferences

Live instruction and immersion into your field are advantageous because you can access instructors and peers from whom you can learn. You may seek board members at the conference or use the event as an advisory session for your board. There are lists of conferences organized by category so you can find dates and times for the conferences in your industry. 10 Times Events is another resource for finding conferences to attend.

Coaching

A consistent, ongoing relationship where the coach helps to implement new skills and assist in achieving your goals. The coach maintains objectivity and uses a formalized system to get you functioning at a higher level. There is the cost usually associated with coaching, but it’s money well spent if you achieve your goals.

 

Mentors

Everyone entrepreneur should have a mentor. It doesn’t have to be formal, and you can have several mentors. Multiple mentors can cover a wide range of expertise that may be required for business growth.  You can have a mentor and never let that person know they are mentoring you. If they are up for a formal relationship, that is great, but if you can have non-formal mentors without titles or structure.

 

Score

The non-profit association Score (Senior Core of Retired Executives) comprises 11,000 volunteers dedicated to helping businesses achieve their goals through education and mentoring. The volunteers have a broad mix of senior executive and small business experience. Score can be a sounding board for ideas, finding solutions, and help avoid costly mistakes. Score is also helpful in expanding your network quickly. It has been widely quoted that your network and net worth are related.

 

Chamber of Commerce

Your local chamber is a great place to network with local business people. Get to know the business people in the chamber and contribute to the organization and its people.  The chamber is a place to help grow your business and could also be a great place to recruit for your board.

 

“When you establish a destination by defining what you want, then take physical action by making choices that move you towards that destination, the possibility for success is limitless, and arrival at the destination is inevitable.” Steve Maraboli.

 

Creating an Advisory Board 

Every business will benefit from an advisory board. It can be formal or informal. The advisory board should have regular meetings in person or virtually. Frequency and agenda can be structured or flexible depending on the goals of the advisory board and the board members. There should be free sharing of information, including financials. You may choose to limit some information you deem sensitive. For example, you may share profit numbers but not sales numbers or vice versa. You may share gross profit numbers but not line items. You may divulge new customer acquisitions, web traffic, or whatever is a meaningful measurement. The board meetings should be planned to share information with board members that have a material impact on the company.  The results can’t be good if the members don’t have good information. You may even want to sign a non-disclosure agreement if you have any concerns about misusing the information you share.

 

Board Meeting Preparation

Formal or informal advisory boards require preparation before every meeting. Everyone’s time is valuable, and you want to be productive in the shortest amount of time, even if it is an unstructured event. Any information should be shared before the meeting so board members can review the information beforehand. Board meetings should have an agenda that includes the biggest challenge in executing your vision. The meeting’s goal is to create actions to overcome obstacles preventing the fulfillment of the vision.

 

 

Bold Vision Have Setbacks

Any bold vision has points where things don’t work or are in jeopardy of failing. Setbacks should be expected and learned from. Setbacks have to be taken for what it is: An event that needs to be analyzed and tried again with a new approach based on lessons learned. Look at setbacks as a bug in a computer program. You may need to re-write the code dozens of times before the program runs as it should. All of the greats have failed a lot more than the average person. Entrepreneurs with vision aren’t average people, so they embrace failure and keep moving to solutions.

 

Accountability to Your Success

The strategies included in this article are meant to help you create and execute your best ideas for business growth. Ideas that seemed brilliant when confined to your thoughts may not survive the journey to the written page. The strategies outlined here are collaborative. You should choose to have people around you that have experiences and skills that you don’t. Your ideas will have the benefit of experience and skills that you lack. 

 

 

Exponential Growth

The process of sharing your ideas with knowledgeable colleagues, mentors, board members, advisors, etc., will be your engine for massive business growth and innovation. Your experience and skills will increase exponentially by involving others with your vision.