4 Questions to Answer

Developing a marketing strategy for your business can be tough, especially if you don’t know where to start or what to focus on. Referring to the four questions below to help guide you. Continue reading

Hang on to Your Employees

If entrepreneurs have mixed feelings about selling, that’s nothing compared to what the employees go through during a change of ownership.  If you are selling, the new buyer expects the knowledge and expertise of your employees to come in the purchase.  If you are the buyer, you based the purchase price on a going concern.  Losing trained employees costs money. Continue reading

TN Promise Community Service Hours – Please Take Note!

All TN Promise students must have their 8 hours of community service for Fall Semester 2017 completed and submitted by July 1st.  If the hours are not completed and submitted, there will be no TN Promise funds for the student. Continue reading

$9 Million Business Sells for $55 Million

Stephanie Breedlove started a payroll company in 1992 to solve the problem that families had in paying for their nannies.  She began small and self-funded the business growth which averaged 20% per year.

In 2012 annual sales were at $9 million when she received a call from a company that wanted to buy her business and offered almost $40 million – more than 4 times annual revenue.  Breedlove turned down the offer.  She wanted more and settled on a price of $55 million.

Breedlove’s story illustrates the importance of having a unique point of differentiation, called the Monopoly Control by John Warrilow, author of Built to Sell.  She had created a special niche in paying caregivers.  The company that bought the business could not easily replicate what Breedlove had developed, which is why they paid such a high premium for Breedlove’s company.

To find out how you’re doing on The Monopoly Control business value driver, complete the Value Builder questionnaire now.

What did your score look like?  Call for an appointment to go over your score and discuss ways to improve it.  931-456-4910

5S for Offices

5S is a system to organize a workplace and execute tasks that provides the highest levels of convenience. Typically it involves identifying, storing, maintaining and arranging tools and materials to create a more organized and productive workplace.

5S is the nickname for a series of 5 Japanese words that all begin with S along with their English close translations: Continue reading

Economic Development the CBI Way

On February 18th I will celebrate my fourth anniversary with Roane State Community College’s Cumberland Business Incubator. It’s been a great experience working with entrepreneurs and businesses in the greater Upper Cumberland region. Our clients come from far and wide – from West of Putnam County, Morgan County, Fentress County, Bledsoe County, Anderson County, Roane County, Sevier County, Sequatchie County, White County ….and others. Continue reading

Do You Need Office Space? 5 Questions to Ask First

If you are considering leasing office space for your business, curb your enthusiasm and excitement long enough to ask yourself these five questions: Continue reading

Not Good with Numbers? Are You Good with That?

How many times have you heard someone say, “I’m just not a numbers person”? Have you ever been that person? It’s a common expression and an easy escape hatch to fall through when you’re staring at spreadsheets full of numbers and formulas. But it’s a phrase, and an attitude, that’s ultimately unproductive and stopping you from taking your business to the next level. Continue reading

Make 2017 Your Best Year Yet with an Annual Plan – FINAL

Picking up where we left off from the two most recent articles …….

Marketing –

  • On a scale of 1 (least positive) to 10 (most positive), how would your company’s current marketing activities and your ability to generate the right number of quality leads?
  • Make a list of what you think is needed to make this a 10.
  • Do you have an effective lead generation process that provides a steady stream of high-quality leads?
  • Is your company taking advantage of a variety of different channels for generating leads?
  • Are you sure that your current marketing messages are having the desired impact on prospective customers
  • Do you have an effective social media strategy and presence?

Continue reading

Make 2017 Your Best Year Yet with an Annual Plan – PART 2

Many businesses have been in business 3, 8, 12, or more years, yet each year is a repeat of any other prior year.  Why?  Because everyone is so caught up in the day to day work of the business (working IN the business) that they don’t take the time to step back and take an assessment of where the business is  and intentionally do things differently to move forward toward the vision for their business (working ON the business).  Continue reading