BUSINESS OWNER
The Start-Up Paradox
Republished with permission from Built to Sell Inc. As we enter the 21st century’s third decade, it’s fun to look back on the companies that have stood the test of time. Despite a few well-financed chicken-focused start-ups, mounting pressure to reduce our dependence on meat, and our growing addiction to fancy coffee, McDonald’s has managed…
Why You Should Fire Yourself
Republished with permission from Built to Sell Inc. If you find yourself in a position where your customers always insist on speaking with you directly instead of your employees, then you might want to consider shifting your structure so you can improve the value of your business. Here’s why: a business that can thrive without…
Ownership Has Its Privileges
Republished with permission from Built to Sell Inc. Walk down Nashville’s Lower Broadway any night of the week, and you can hear aspiring artists belting out cover tunes from Elton John to Garth Brooks. In many cases, these musicians come to Nashville to be discovered but pay their rent using the tips they get by…
Starting Vs. Growing a Business
Republished with permission from Built to Sell Inc. Most company founders are good at the first stages of entrepreneurship. But in the phases that follow, they may only be average. Just because you have a knack for starting companies, doesn’t necessarily mean that those skills translate well into growing one. There are celebrated cases of…
Being Stingy With Your Equity
Republished with permission from Built to Sell Inc. It can be tempting to offer shares in your company to finance its growth. These days, there are plenty of investors chasing promising new companies and, in today’s tight labour market, employees are getting more brazen in their demands for equity-based compensation. However, using equity as a…
The Hidden Downside Of This Common Management Idea
Republished with permission from Built to Sell Inc. Cross selling new products and services to your existing customers may be a great marketing strategy, but if your goal is to increase the value of your business, the added revenue may do nothing for your company’s value – and may even lower it. In order to…
Run Your Private Company Like It’s Public
Republished with permission from Built to Sell Inc. Small businesses often operate as if their sole purpose is to fund the owner’s lifestyle, but the most valuable companies are run with financial rigor. You may be years from wanting to sell, but starting to formalize your operations now will help you predict the future of…
Why You Should Exit While You’re Ahead – A Cautionary Tale
Republished with permission from Built to Sell Inc. The very best time to sell your business is when someone wants to buy it. While it can be tempting to continue to grow your business forever – particularly when things are going well — that decision comes with a significant downside. Take a look at the…