Are You Building a Leadership Team?

If you’re actively growing your business, it’s never too soon to start thinking about your leadership team.

Successfully scaling a business isn’t quite rocket science, but there are quite a few moving parts that you have to get right in order to make it all work. Continue reading

Open House & More!

The Cumberland Business Incubator Open House was yesterday.  Thank you to all who attended and had the chance to network with our tenants and clients who are always happy to share information about their businesses.  There are great things happening in our tenant and client businesses. All are growing. Some of the connections are organic and occurring right within the building.  Continue reading

Is Your Business Ready to Graduate?

It’s graduation season.  Graduations do not guarantee success.  At some level graduation is a completed checklist, accomplishment and a new stage of life for the graduates.  Moving on to the next level, marking progress. Continue reading

Summer Camp Time at RSCC

It’s that time of year.  Students are counting the days before school ends and summer begins.  That means camp season is almost here on the Roane State Community College campus. Continue reading

National Small Business Week!

Don’t miss National Small Business Week!

National Small Business Week is April 30 through May 6 this year. It really gets rolling on Monday, May 1, with the NSBW Awards Luncheon in Washington, D.C., when SBA Administrator Linda McMahon announces SBA’s National Small Business Person of the Year. However, don’t feel left out if you can’t make lunch with Linda. On the following days, live events will be broadcast online. Here’s a listing of those events:

  • Monday, May 1, 11:30 a.m. to 2 p.m. ET: NSBW Awards Luncheon. Streams on SBA website.
  • Tuesday, May 2, 11:30 a.m. to noon ET: Facebook Live with SBA Administrator Linda McMahon. Streams on Facebook.
  • Wednesday, May 3, 11:30 a.m. to 1:30 p.m. ET: National Small Business Week Road Tour Kicks Off in Indianapolis, IN. Streams on Facebook and SBA website.
  • Thursday, May 4, 11:30 a.m. to 1:30 p.m. ET: National Small Business Week Road Tour Stops in Arlington, TX. Streams on Facebook and SBA website.
  • Friday, May 5, 9 a.m. to 10:30 a.m. PT:  National Small Business Week Road Tour Ends in Fresno, CA. Streams on Facebook and SBA website.

Finally, you can join or monitor the conversation on Twitter using the hashtag  #SmallBusinessWeek.

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

$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