35 Burst results for "Business Owner"
Sebastian Asks Rep. Claudia Tenney 'Are We Winning?'
"Welcome back to one on one with none other than congresswoman Claudia tenney. Claudia. Let me blow your trumpet politely. When you came in into the studio earlier today, you know, we get politicians in the studio. You know, the good guys and good girls come in here. And the remarkable thing about them, especially in your cases, you come in, I say, would you like a coffee would like anything last? And then I got out of the studio to get you a bottle of water. And I'm looking everywhere in the green room. Where's her retinue? Where's her entourage? Is a member of Congress. Where are the Strata? Where are the PR people? And there's nobody. So this just reinforces for me why you're the best example of what we need in America, not career politicians, like Nancy like charcot who have been around for decades, but people who see themselves as Americans representing their fellow Americans, I'm going to ask you the question I asked all of the good guys and gals. Are we winning? Is that side? Is it burgeoning? Is it growing? You know, the freedom caucus the people who don't want to say this way. I went to the members dining room to have lunch with a couple of supreme caucus people. And I asked them, is it as bad on the inside as I think it is from the outside? And one of them said, you know, the trouble is even in the GOP, 30, 40% of us, they just want the job. They want the chairmanship with the chauffeur driven limo and they want the office with the fireplace. You do not represent that to me. So who's winning? Who's in the driving seat? What's the power relationship between The Old Guard and the citizen politicians like you? You know, it's a tough crowd. I'll tell you it's a funny story. Look at I had to fight against the establishment in both parties just to get elected to the state assembly. I had to defeat the county chairman. Wow. And so they were all working against me. And they always have. I never got endorsed by our local party. The Republican Party, running for office ever until after I was elected to Congress. So you won without any endorsement. No, I had to run a primary had to put my own team together, so I know what it's like to be, you know, I'm also a lawyer or a business owner. I know what it's like to, but I'm trying to do, I'm trying to stand for our country and stand for our small business community and what we need to do. I don't see myself as part of a group or other than I want to represent my constituents. I'll tell you funny stories. When I first got into the state assembly, I remember this old time assembly member who had here I am coming from the private sector. I don't know what pensions are. I don't know any of this stuff. And you know, I'm all worried. I could care less if I, you know, use a folding chair and have a folding table. I mean, it doesn't really matter any of that stuff. And so this one person came up and said, oh, I can't believe, you know, we were minority members, Republicans, and the Democrats were in the majority, and they said, did you see the Democrats got all new mahogany deaths to new computers? And we should have mahogany desk. I'm like, no, you shouldn't have a haggy desk. We don't need that stuff. We need to govern. We need to understand the taxpayers. And I love the Jeffersonian idea. I mean, we are not supposed to be doing these jobs forever, which is why one of my first bills when I got into the assembly was, let's take all the politicians who are elected and appointed off of the pension system and put them in a 401k case to system because if you're going to serve and you want to you shouldn't have to leave and not be able to at least contribute to your own retirement, because I was really these non contributory pensions and then and of course that was not met with much approval. An old friend of mine, Mike Fitzpatrick, Fitzpatrick and the assembly. He was part of it, too. You know, what are we doing? How are we in a position where we're benefiting from something we're
Republican John Lujan Narrowly Flipped a State House Seat in San Antonio
"We had a big victory in places like Wisconsin, Minnesota and Texas, a big upset. San Antonio. The race of House district one 18. The Republican John lujan came out victorious in the majority Hispanic district that Democrats carried by double digits the last time around. Lujan lujan, the Republican flipped it red. Now, that's a Biden plus 14 point district in San Antonio. That's 73% Hispanic. Frank Ramirez lost in the special election runoff turned out the Republican John lujan, business owner, former firefighter. They thought it would be tight. It was a big
The Woke Crowd Must Be Fuming Over Atlanta Hosting the World Series
"Of course, the big World Series, I really followed much of the World Series other than I'm pretty excited about the Atlanta Braves. Considering what Major League Baseball stupidly did to the city of Atlanta and all the business owners, I saw somebody this morning on TV say that what these businesses lost in revenue by having the All-Star Game moved out of Atlanta over George's common sense election reform laws, they've more than made up for with the World Series. That I think was governor Brian Kemp on Fox and Friends this morning said that. So I mean, Stacey Abrams and the woke crowd has to be really mad at the World Series winding up in Atlanta. After the crap, they pulled on Atlanta with the
Arizona Republican Gubernatorial Candidate Kari Lake Tells Us Why She's Running for Office
"Welcome back to America first. Carrie Lake. It's so good to be here sub. I remember that day well. I remember walking across past the buffet table and thinking, I'm just going to introduce myself to a man who I admire greatly. And so to be sitting here with you all these months later, is such a treat. Thank you. Yeah, you went very sorry that day. Like, walk straight up to me and my wife broke into the conversation introduced yourself. And you made an impression, so we are delighted to have followed your Sterling advance in this campaign, especially in social media, guys. You got to follow this lady Carrie Lake with a Carrie Lake, especially on Instagram and especially, oh, I don't know the recent endorsements you have received. There are photographs of plenty of you with my old boss, president Trump. You sent me a very, very kind invitation next month for one wonderful event with the president of Mar-a-Lago, so Carrie. It's really must be a complete whirlwind for you. Tell us about how it is to campaign for this amazing opportunity. It is, I mean, I have to pinch myself because when I got into this, we announced we were running June 1st. And I'm just a mom really, I'm a mom, a former journalist. I'm the wife of a small business owner. And I thought is it possible for we the people to take back our government? Is it possible for citizen, a non politician who's not connected to the swamp to just announce their running for governor and make it happen? And we're finding out yes, it is. The people of Arizona are so ready for an outsider. They know me I've been in their homes for 27 years. So all along, I was just trying to get an and I remain this is my main goal is to get the endorsement of the people of
In-N-Out Burgers With a Side of Anarcho-Tyranny
"In and out burger everybody, wait in line and get it. They're really great. So check out In-N-Out burger because they are now being targeted. They're private property has been taken from them without a judge without a ruling by the health department. Now, isn't that an example of exactly where we have been heading? In the last year and a half, we're unelected unknown, health bureaucrats are able then to say, hey, this is not your business. And if you're a small business owner right now, I want you to look at what's happening in and out burger in San Francisco. It's not even that they disobeyed the mandate for their employees to be vaccinated. It's worse than that. It's that the San Francisco health department says you are not adequately enforcing our mandate. It's not just that you disagree with it. It's that you are not employing it. You're not using your own salaried workers as a pretorian guard as to act as if In-N-Out burger announced now needs to be checkpoint Charlie. To go cross between east and West Berlin. That in order to get a burger in animal fries in downtown San Francisco now here's the great point to kind of circulate all this. It's takes more identification it takes more proving of your identity there is more focus on the paperwork to get animal fries in San Francisco than there is to walk into our country through the southern border.
How the NSBA and FBI Are Exploiting Scott Smith's Arrest
"I want to tell you a little bit about this gentleman I mean they almost took a shirt off while other apprehending him they arrested him I'm sad to say And I think in the Washington examiner Beckett Adams did a very good job of summing it up He wrote Scott Smith was arrested on June 22 At a school board meeting loudon county Virginia there was deemed an unlawful assembly After attendees voiced opposition to a proposed policy expanding special protections to transgender students Smith was dragged from the event in handcuffs his pants falling down his lip bleeding He was charged later with heartily conduct and resisting arrest Smith's arrest soon became a national story The small business owner became an avatar and avatar of anti school board protests representing the unruly and ignorant anti mask anti critical race theory in anti transgender parents and their crusade against the progressive Put upon school officials But few knew until now is that Smith attended the June 22 hearing to confront school board member over his daughter's alleged rape In a school bathroom by a gender fluid boy As I understand it this took place in a high school stone ridge high school Which is where my kids went to high school The details apparently don't matter to the national school board association In a letter to The White House this month that actually highlighted smith's arrest is an example why federal law enforcement agencies need to investigate and prosecute parents who oppose mask mandates and the teaching of critical race theory
AOC's Dress Designer Aurora James Owes Thousands in Unpaid Taxes
"Else. So when you look at that, and it's not ironic, I don't think you need a dictionary to talk about the definition of irony. The irony here is that AOC says she wants to tax the rich and she's for the people. But she's hard knobbing with the rich Now again, this was done to death. I don't want to really redo that. And, like relitigate that on the radio, we know all of that about her. But what's interesting was over the weekend, There was more stories that came out about good old AOC and I thought it was just funny. This is ironic, right that the designer that created this tax the rich dress She owes taxes in the amount of something like 130 K, and she's a Canadian, not American. And this is in the U. K. Daily mail designer clothing brand that devised AOC is tax the rich Met gala dress doesn't even pay its own taxes. Reichard SHOW Aurora James firm failed to pay state and federal taxes totaling 130 K. Now she's 37 year old roller. James. She's the owner and designer. Of this What's it called? I don't want to say a dressmaker. I'm going to see a fashion label right? Called the Brother Valleys and she founded this And she's got three open tax warrants in New York state for failing to withhold income taxes from Employeespaychecks. That's 15 grand. James firm is also the subject of six federal leans legal claims against property for failing to pay a tax that totaling $103,000. And it goes on to say that Canadians also proved she has no problem taking money from taxpayers and her company received over $40,000 in pandemic relief. That's not such a bad thing. I mean, That was a program that was available to business owners. But you should. You should
How to Handle Tough or Tender Conversations
"Well communication with team members has always been a difficult part of any small business owners job but working remotely has made it even tougher. But what will happen when we head back into the offices later. This year help is mary. Jane nester who has been speaking out all their life. Her new book and amazon dot com number one bestseller. It's called say now said right. Have a handle tough and tender. Conversations provide a straightforward look at the problem people organizations phased by not practicing the art of communication. Mary welcome to the show. Well thank you very so wonderful to be here. So it's communication gun talk. I since now. We're all working remotely. Oh it has. It's you know we are not used to speaking face to face anymore and you talk about going back to work. This is going to be one of the toughest things that we're going to have to face is that we don't have that screen anymore. We don't have that separation and so we and we've kind of lost our skills of being able to speak face to face and when somebody's right in front of you So i think we're going to face a lot of tough conversations and a lot of tough situations where we just don't quite know how to handle those conversations we're going to have to have
Buddy Foy Jr. Debuts New Radio Show to Protect Business Owners
"While ago. I had a chance to talk to buddy foyt junior. How how little did i know. He was going to become a threat to my radio existence with his own radio show. He's now the radio host of the buddy foy junior show which is a really big deal. We're thrilled to welcome back. The owner of two restaurants. One in florida one in new york. The one in new york is legendary chateau on the lake lake george. Then there's one on the west coast of florida the chateau anna maria. But there's plans to expand this multi award winning entrepreneur is now a radio star host of the buddy junior show. Please don't take away. The mike gallagher show slot buddy. Don't get that good mike. I i got a long way ahead of me. Even get close to that my friend. You've got a nice set up though. I love that you're doing this. This is really cool. We're gonna talk about the show in just a minute. It airs saturdays ten. Am on the answer in sarasota on m. nine thirty and fm ninety three point seven fm then in new york on the answer. Am nine seventy. Everyone can listen online. Live and on the podcast buddy. Tell us all about your new show. Listen the new show is really who knew the politics and business would collide the way. It is right so had to put my hat ring. What's going on and how the government is now involved in our businesses. We need a voice. And i unfortunately during this whole kobe thing we were able to get a ton of a pr and the emails and phone calls my customers come in and we serve over forty. Five fifty thousand customers are a summer. Well they're just saying listen. Get out there more. We want to hear more about what's going on in your world. 'cause we had no idea how hard it was abuna small entrepreneur in today's environment. So we're going to cover that gas on talk about it but the collision of politics and business which frankly i never thought would be at the pinnacle that it's outright. It's incredible the way these they've intersected. I'm spending a lot of time with my friends. The job creators network next thursday event in tampa With governor rhonda santa's with larry elder alfredo ortiz. I'm going to be on stage. We're going to be at the how the grand hyatt and tampa bay People can get tickets at the answer. Tampa dot com. Because it's a. It's coming up thursday night. September the twenty third and buddy. We're focused like a laser on the way small business owners have been crushed by the biden administration. It's not getting any better. it's getting worse so h- you know. How do we fight back. We need voices like yours. We need buddy for junior all over the country. And and i'm thrilled about about this broadcast because i mean you. You cannot overstate how small business owners are hurting. Right now buddy and it doesn't feel like this administration is doing a pardon. my language. A damn thing to help
Is Your Business Idea Good Enough?
"By saying. I don't even like the term good idea or bad idea. 'cause good and band is relative. Really it's subjective. If you ask me having a rock for a pet is a bad idea but it was a popular thing in the eighties. Millions were sold so it doesn't really matter if i think something's a good idea or a bad idea. What really matters is what the market response to is. Her need in the market. Is their consumers out there that want that product idea. That's all that really matters now. I'm not saying there's this thing is brilliant ideas there are but they're not really the dictator or the indicator of success of the business. My good friend. Justin jackson actually puts it really. Well he says ideas are more like a multiplier rather than the defining factor. There other things around your idea that really matter like your implementation how you execute the idea the team behind it the service around the experience in delivering that idea all these things will contribute to. It's success how good that idea is will become a multiplier in that success which means you can have an idea. That's not earth shattering. That's not really revolutionary but will be a good business because of the things that the business owner did around that idea.
Personal Brand: How Do People Experience You?
"In today's episode. We're talking about building your personal brand which connects to our business driver of you guessed it personal our guest. Today is tim newton. He's the senior creative officer here ramsey solutions. And he's an expert in the field of branding. I sat down with him to talk about. What a personal brand is. Why it's important and the steps you can take to build the personal brand. You want to have then after our interview. Tim is going to coach. Some small business owners as they call in with their personal brand questions. You don't wanna miss that at first. Let's jump into my conversation with tim. Tim thanks for being with us today. No problem happy to be here. This is going to be fun. I love talking about branding and marketing. And you are the king of branding and in my heart. At least evidence appreciate it. Never mu so a lot of people You know rightfully so. Maybe have concerns about their personal brand how they're perceived Obviously my personal brand is being really rugged handsome intellectually you can tell just if you're listening on the podcast you feel you feel that i experience you. Yeah well i want to just get the definition out there because people have a lot of feelings about what a personal brand is. So how do you define personal brand personal brand really is someone else's perception of you like is is basically what it is. It's important like the thing. I talk about personal brand all the time because the reality is we are always making decisions about everybody around us just based on how they walk. Talk dress all. They're all unconscious decisions. But we're always making decisions about each other and so that's why personal brands important. I've had Team members tell me man. We we talk about personal bran. Is it really that necessary to talk about personal brand like is it really that important. And i'm like what i see where you're coming from but if people are making decisions about us every day then there's something to personal brand and when it comes down to it if it's people's perception of you a good personal brand equals opportunities and is if you have a good personal brand you have more opportunities. You had bad personal brand new fewer opportunities so whether we like it or not. We have a personal brand. Every one of us has a personal
Will Small Business Owners Be Held Responsible if Employees Get Sick From the Vaccine?
"A problem of small business owners. What are we gonna do if we have to force our employees? To take this vaccine, and then you're going to have Joe and Joe attorneys and they're gonna be online fooling us. Because something happened to that employee and that's a good point you you are going to be immunized legally by the federal government. No, sir. Not. I can't say there's a lot. There's a lot of questions here that the media will not ask if they would listen to talk radio. This show in particular. You know we could help them, but they don't want to be helped. They're pushing an ideology. That's all. You're quite right, Evan. Yeah. Yeah, I mean, you know, and it's going to happen. It's already happened. But the trial lawyers are in the back pocket of the Democrats. So that'll be fine by them. Yeah, you bet.
Local Business Owner Calls to Reject Biden's Vaccine Mandate
"Hard enough with the labor shortages already with supply shortages, equipment shortages. Prices are through the roof. It is it is so difficult and he puts one more thing honest and Me and my family spoke and were not compliant with this one. This is the hill will die on. And, uh you know, I'm sitting here holding my copy of American Marxism and, uh, You know? If I may read one sentence from your book that okay? Yeah, sure. Okay, So it's the very first paragraph of have the book and it's the last minutes and it says, Of course, the primary difference between the counter revolution and the American Revolution. Is that the former seeks to destroy American society and impose autocratic rule and the latter sought to protect American society and institute representative government and I just That sums it up and that's where we're at. And this man is trying to, uh, trying to destroy my business and the lives of Let me give you some some friendly advice. You should find a couple other small businesses in a similar situation. And be prepared to invest in a lawyer to sue this to sue them over this, uh, I think you at least have some arguments to make. But Look at look at Look at your small business man. You have to compete with the federal government and the checks they've been handing out. Uh, your taxes are expected to go through the roof now. Uh, the inflation drives up the price of labor drives up the price of materials and goods. You can only pass on so much of that. Your profit margins getting walloped. You just came through a pandemic, And now he's saying you must make sure That every one of your employees is Vaccinated or tested every single week. And if you're an employee, and you're getting a checking, screw this. I'm leaving. I'm not putting up with it.
Unemployment Benefits Expire for Millions
"Spoke to npr's chief economics correspondent scott horsely. We talked the day that the supplemental pandemic unemployment benefits expired. Welcome back scott. Millions of people are losing this aid. Just as there's this sharp actual like slowdown in hiring is this. What policymakers expected. I don't think so when today's deadline was originally crafted back in the spring the hope was that the job market would be on more solid footing by the time the aid was taken away and we did see really solid job gains early in the summer when it looked like the pandemic was in retreat but then along came the delta variant and it really slammed the brakes on the economic recovery. Us employers added just two hundred thirty five thousand jobs last month less than a quarter of the number. They added in both june and july. A white house economist. Cecilia rouse acknowledges. The government is cutting off unemployment benefits. Just as we're facing some stiff new headwinds from the pandemic from the beginning is an economic crisis that is being driven by a pandemic and so in order for us to get to the other side. And i fully recover. We're going have to fully recover from the pandemic and that's proving easier said than done with his unpredictable. Virus president biden did say that he will be announcing new initiatives to boost vaccination rates. But of course that's not going to happen overnight. And meanwhile the last of the emergency benefit payments are going out right. Now what do we know about what could happen. As these benefits expire. I mean half of states had already cut extended unemployment benefits. I think earlier in the summer. That's right about two. Dozen states cut benefits in june or early july and the mostly republican governors of those states. Were hoping that would push more people back to work. A lot of business owners had complained that these benefits were discouraging. People from looking for jobs what researchers have found though. Is that people in the states. That cut benefits early. Were only a little bit more likely to find jobs than the people in states where the benefits kept going until
Did Ending Pandemic UI Benefits Push Americans Back To Work?
"Hiring slowed really sharply last month. Us employers added just two hundred thirty five thousand jobs in august restaurants in stores. Actually cut workers as a new wave of current. A virus cases made people nervous about eating out and in-person shopping but in the two months before that the economy was adding tons of jobs. More than a million jobs in july alone it seemed like there were help. Wanted signs everywhere. A lot of employers were complaining that they couldn't find enough workers and some of them blamed the relatively generous unemployment benefits and that was the logic behind the states that decided to end those benefits early. Which is what set up. Michael's experiment she speak to business owners. They say got jobs open. We can't sold them and the thought was that the reason they can't sell them because people would rather be on unemployment benefits then applying for work and as soon as we removed those benefits the labor market would start booming. People would start returning to work. Businesses would find the workers. They're looking for and all would be well now. That might have been a reasonable theory. But it's not what actually happened as we've talked about on the indicator before some earlier research showed unemployed workers in states that took away benefits. Were only a little more likely to find jobs than those in states that left the benefits in place and now michaels research is showing exactly the same thing. That's right in michael's experiment. Twenty five percent of the workers who lost their benefits in june had gone back to work by august now in states that left the benefits in place. Twenty one percent of unemployed people found jobs so there was only four percentage point difference when these benefits went away so all those employers were pointing to the benefits as the cause of all of these workers. Not taking jobs. Michael's research says that is not what happened. The thought was that. Removing people's benefits would really produce a surge in employment. And that's not what we see panning out
Illinois Restaurant Owner Fighting Fine for Flying American Flag
"Saw a story about a restaurant owner in northern illinois who literally is facing fines for flying an american flag outside his business. And you know you see these stories once in a while and you just scratch your head and you wonder how did america get to this point. And i'm so glad and show honored to welcome terry trobbiani. Who owns it's a hotdog and beef spot. Along highway one. Seventy six right in prairie grove. Mckenry henry mchenry county illinois. I have it right terry. Do thank you very much for joining us can. Can you start. And we'll get into some of the details in a moment. But i want to go big picture. I wanna start at thirty five thousand feet. We're living in america. We have challenging times. We've got a pandemic. We got questions about so many things and yet a flag is supposed to unify us. Remind us that. We're americans were in this together through thick and through thin. I gotta ask you terry from your perspective. How did we get here. How does a business owner who wants to fly a flag outside his business face fines from the government. I'm like you know it's funny. You say i'm scratching my head. But i'm really i'm getting smart. I've seen what this villages done I just found out today that just a side note on the only person in the village that's ever been written for a sign ordinance violation in five years. So there's little battle going on between us i. It's just amazing with his village is done. Basically what's happened with this. Show the flag in this kind of kind of encapsulate. Exactly what's been happening They have village. Ordinance which prohibits the use of temporary try put flags out on the fourth of july weekend and i and i left him out there and then after the fourth of july moved into a straight line back on my personal property twenty three feet off the street eighteen and a half feet off my exterior curb almost seventeen and a half feet off the i. In no way was in the right away improperly displayed i was not a hazard vehicles But what i realized was the village designated mike flag as he signed. So answer your question. This is how we get here. You have small town municipal governments people who get a little bit of power and they just want to. They want to express their own opinions. And people in business
Shopify, TikTok Team up to Let Users Shop From App
"For the first time people on tick-tock are going to be able to buy things without having to leave the app. It's part of the social media. Apps expanded partnership with shop by shop. If i allows business owners to easily set up an online store now it essentially means creators can turn their tick tock accounts into a storefront with new shopping tabs. Tick-tock is testing this out with a select group now. It wants to expand to all shop if i users this fall already. Facebook and instagram offer in-app shopping and fortune magazine reports. Total sales through social media. Apps could reach as high as fifty billion dollars in the next two
Some Small Business Owners Will See Tax Hikes Under Biden Proposal
"Can you believe how bad things have gotten so quickly for the biden administration and you guys at job. Creators network have been sounding the alarm for a long time shadley. It looks like the chickens have come home to roost. Yeah mike we've been talking about the biden. Administration's wore on small business This entire year frankly And that is because we've watched business suffer so tremendously under this pandemic and with shutdowns and lockdown across the country and small businesses being told that they weren't essential enough to stay open And now coming out of this pandemic We've got the administration And president biden himself breaking one of his campaign promises not to raise taxes on small businesses will in fact his tax plan includes very large tax increases on small businesses. There's million small businesses that are structured as corporations face a thirty three percent tax increase. He's threatening to increase the top marginal tax rate to thirty nine point six percent. That's gonna affect almost another nearly million small businesses so that's almost two million small businesses. That are going to see tax increases. And that doesn't even include doubling of the capital gains tax. Which frankly we're call a success tax because it prevents you from even passing your success down to your heirs without them being here with huge tax
"business owner" Discussed on Change Lives Make Money
"Let's say and then for that our it's literally just personal time and personal time means that do whatever the fuck i want. But it doesn't involve serving clients so like that's what i do all day. Every day i serve clients and when the podcast. I'm talking to you guys. I'm in the academy. I'm talking to you. Kademi dm talking to the mastermind. So that's what. I do all day every day. So the one our personal time i can do whatever the fuck i want but i can't serve clients for that our because that's what i do every other hour of every day so if i want to make a funny video for tiktok or browse tiktok videos. I do that. If i wanna hang out with kirsten and cuddle for an hour. I do that. But i do it completely. Undistracted i do focus on what i wanna do. I wanna sit on the couch and watch netflix for an hour. I'll do that. It's my personal time. If i want to go for a do that yesterday actually. I went for a drive. I went for like a thirty minute. Drive i just took. The car went for a drive and went to a couple of stores. I picked flowers. I was out for an hour and it was like bunk and that was it. That was my personal time. So i set a timer for one hour and i was just like your this next hour is all be marked time and then when i came back to work i had like three hundred things to do. I was excited to do it. Because i was recharged. I like gave myself energy again and it was a lot easier for me to accomplish the rest of the tasks that had on my list instead of just sitting down in trying to grind it out and grinding my nose to the grindstone which there are times and places for that but guys like personal time is huge so for me my number one struggle right now as a business owner is intention and so my practice this week and i just wanted to share it with..
"business owner" Discussed on Change Lives Make Money
"Show only fitness coaches. You're trying to go successful business in today's episode to be talking to you guys about my number one struggle right now as a business owner one of the biggest things that i'm kind of working through right now one of the things that i'm trying to work on myself before we get into that. I wanna share with you so those guys are follow me on instagram. Know that i sound proof my room right so i basically put up a bunch of soundproofing tiles in my room to you know i wanted to make my podcast echo a lot less which you should be able to notice. There's a little bit less than go. I'm not very good at handy shit so if you know me like one of the things. I'm really good at you. Guys is like if you're looking to grow a business and you wanna learn how to sign clients you want to learn how to land clients. You need to learn how to use your tiktok instagram. I'm your dude right. I am not the dude that you call. If you need your house fixed or shirt so i do google how to set up these sound roofing tiles in my room and said that you need to use piece of spray and cardboard. I did that. I used adhesive spray to the soundproofing towels and then cardboard. And then i stuck it up on the wall and i came into my room this morning and there was like seven of the sound roofing tiles fell off my wall so basically what i'm saying is don't call me to fix your house because i'll just break it more so i need to spend my weekend cleaning up my soundproofing ships. 'cause that is i'm not very good at that okay. So let's get into the episode. I want to talk to you guys about my number one struggle right now as a business owner and i want to share this with you guys. Because i think that there's a lot of my coaches they'll be able to relate to this and in order to clearly explain this idea. I wanna talk about my workout routine so for me right now. I'm only working four days a week. I'm doing legs twice a week and then to do chest shoulders and back once a week and then i do shoulders arms once a week so i'm trying to get bigger show so first week and trying to get bigger legs and then i take three red states three full days so i usually go four days on and then i'll take three days off to really let my body fully recover gromyko schedule. Works really well because it allows me to go super super hard when i'm at the gym and then when i'm off i actually get to fully relax and fully chill which gives my body the recovery that it needs to come back into next week stronger and better than ever so. That's my workout schedule right. And you know. I obviously loved jimmy guys like i love exercise and so in reality. I could be in the gym seven days week but the truth is like if i was in the gym seven days a week probably two or three. The workouts wouldn't really be good anyways. Because i'd be low on energy i'd be exhausted i'd be like i would just like be overtired and i wouldn't recover properly..
"business owner" Discussed on Wealth Is In The Details Podcast
"Great management team that can run efficiently without the business owner that has systems and processes in place to to run and grow the business has transparent accounting systems. You know the the buyer may look at that as a less risky business in there for it may be more valuable to the buyer in their. Therefore they're willing to pay more for it so what's really important to know. Is that the your exit option. Determines the value and external synergistic buyer may pay more than an internal sale to an existing management team. For one reason the man the existing management team may not be able to afford the the value that the synergistic buyer might be able to to pay for. So that's why you're exit goals and your financial and mental readiness are so vital to this process. 'cause if you need to sell the highest value to fill that value gap in internal transfer just may not be the best solution And so it's it's an important discussion to have what's the value based upon your erects at your chosen exit strategy and what i'm looking to to the near future where we're gonna be talking to a business valuation appraiser professional that actually Appraises business and so. I think it'll be a really interesting conversation about About that how they go about their business and why a business owner might work with a an appraiser like that. Y- fantastic absolutely all right that brings us to our last step. What does it peter. Last step is executing the plan I it's a well. We guide you through the process. It's likely during this process. That other members of your advisory team are going to be involved. You know your attorney in your accountant and as we move forward through these options. We're probably going to be bringing other experts that specialize in topics and strategies that are appropriate. So could be a business. Appraiser could be a private equity group. It could be a consultant to develop a retention package for for key employees. It's vital that your team of advisors has the expertise to work through this process you know. The the. The people that we have and will be involved are experienced. This isn't going to be their first rodeo. You don't want a rookie to be helping you with your most valuable asset. You wanna hire. You're the most experienced surgeon for example. Who's done this a thousand times likely. And it's a way to reduce your risk increase your value and ultimately enhanced the chances of success so building..
"business owner" Discussed on Wealth Is In The Details Podcast
"Exit exit strategy and options choosing the best one spending time understanding what those options are is really the point of this this step and you know so for example. Is this going to be an internal transfer to employees or to the management team or to your children or will this be an external transfer to an outside buyer like a direct competitor or to a synergistic buyer. Who's looking to enter your market. Or is this going to be a private equity group that was to take a majority stake in your business allowing you maybe to cash out but retain some ownership and then help you grow the business and then over the next five to seven years maybe celled business again and we call this getting giving you a second bite at the apple. So you're staying involved but you brought in a team to help you. And i think that's a it's a it's a great strategy but not appropriate for every exit strategy so the there's lots of options for for the owner to consider and in this four step. The business owner determines really which options are most appropriate. And that all depends upon their objectives. Gotcha all right. That takes step five step. Five is is understanding the value of your chosen option. And i think this is such an important discussion. I've been working with business owners for over thirty five years. And i must say that most owners really don't know what their biggest asset is actually worth it in my experience. Is that most business owners. They overestimate the value of their business. And they underestimate the risk of their business and it's really an important and potentially a difficult conversation to have so. I think that we spend a lot of time helping the business owner understand how their decision about which exit strategy they will take actually determines the value of that business. So let me describe why that happens. Yeah there are lots of ways to value asset like a business and in general the value of privately held business to someone else value that business to someone else's based on on future and potential cash flow and earnings of the business You know it kind of makes sense if you're buying something producing income that that's what that's what determines the value so a is going to look at the projections of the business and decide. How likely is that. Those cash flows will be achieved so a risky business in a risky industry is likely to be less valuable than a stable business in a stable industry with similar cash flow projections and a business with a.
"business owner" Discussed on Wealth Is In The Details Podcast
"Do you want for your family your community your employees your customers. you know. That's what we talk about that. Big picture know take take a few steps back and really think about what you want And to me this is the the really the most vital step and it takes time matter of fact. Most of the lot of the time we spend in this six dep planning process is to help the business owners understand. What their goals are. It's important yeah. And i think that's the perfect for step goal setting as as a coach. I believe that firmly. So i'm right there with you. What would the second step be. The second step is to really measure the financial and mental readiness of our our client of the business owner and Our experiences that most business owners just aren't ready to exit. You know we talk about this of a final decision. But it's not there really just not ready and reason i say that is we utilize a tool called the business exit readiness index or We caught the berry surprise. And there's actually a link to this survey on my website and if you email me i can send you an email with a link to that That survey in overtime over the years that people have business owner has been taking. This survey almost eighty percent of the small business owners that take. It aren't ready from a financial or emotional perspective. And that really tells us a lot in this way what we're trying to determine his the business owners perception of their financial readiness and what that means is can they Without a salary from the business does the business owner have enough income producing assets to comfortably support their personal family financial objectives and if they do have enough assets then maybe there got a high level of financial readiness but if they don't they've got a low level and that tells us really important information so the question around financial ready readiness is so important because it helps us it helps business owner understand if they can actually afford the exit option..
"business owner" Discussed on Wealth Is In The Details Podcast
"And loyal customers. So you can spend your summers at your lake house and winters in florida golfing and those are fine goals. No problem with that but with that in mind a build your business around it. And so i think it's it's so important to stress that this kind of planning eventually help your business. It provides more ring calm. it enhances the business value and in likely retain key employees. So the reason. I say that it's because the business owner that works on the business. Not just in it will be more purposeful. He or she will be more more goal oriented and frankly have a greater chance of success so even if the exit not going to happen for five years ten years twenty years i think exit. Planning in strategizing is is so vital in the big scheme of things. Alright so with that in mind everything that you just covered there. What are some of the biggest challenges facing business owners and exit planning altogether. I think the the key is is to is to do this all well in advance do it while you have lots of energy and while you're in good health do it when when the businesses strong when the economy strong you do it when you have a really strong management team. So they'll see the that you're concerned about their futures well as yours do it for your kids in the business. So they learned that. How important is the plan and goal oriented so you know and then finally do it for your customers. So they know they'll be okay even if you're on around. I think those are reasons to do it far in advance. And then there's a whole bunch of other challenges. That i think face the business owner and i one is you know each sector or industry is is judged by its own metrics so the business owners should really consider the specific industry. They work in those metrics. That are important and then know what to expect and what to focus on because if you if there are certain metrics that make your business more valuable more profitable. Focus on those You just it just makes sense. Yeah but but understand your industry and the sector in the kind of business. You're running also realized that the demographics can make a difference. So are you. Are you one of those baby boomers looking to sell your business and at this point in time are there lots.
"business owner" Discussed on Wealth Is In The Details Podcast
"It's meaningful often times. Kids siblings nephews nieces are are also engaged in the business. It's truly a family business. And as as we said the the business owner is works. Really hard. They're solving problems. Every day they're worried about staffing. They're worried about customers. Cashflow banking relationships accounting regulatory issues. I mean the list goes on and on and eric as you know. It's tough being a small business. Owner it is. I agree it's worth. It's really fun and engaging it can be really tough. Yeah it's it's. It's a great challenge and so from from a long-term planning perspective the business owner it at some point. He's going to leave this business. I it it just is going to happen. It may not be for for for a long time But it's going to happen. The bizarre may wanna keep running the business until they die that that certainly happens a lot that they want to keep on running the business were they may wake up one day and say you know what i've had enough i i want out in maybe because of covid nineteen. We're seeing some business owners. Say that you don't do. They really want to go through another ten year cycle. Or maybe they want to transition their business to their kids or their employees They may want to sell it and just retire so the business owner may not be able to run the business for health reasons. That's another reason. I in my point is is that that this transition is going to happen. The business owner may not just know when and and how it's going to happen And but we stress to our our clients is that you really should do planning ahead of time so this exit is on on your terms. Will you control the process or will it be thrust upon you. Yeah and the only business owner that does not have to worry about an exit plan is the one that invented the found the youth and i. I haven't met them yet. So i'm assuming that the the person who invents a fountain of youth will be great and wealthy beyond means ensure they can run it forever because you know they never age. But that's not the case. I'm feeling a little older everyday. Peter i don't know But we we work hard business. All business owners work really hard. And i think we get caught up way too often.
"business owner" Discussed on Exit Mindset
"Economy was bad and he was doing normally in doing well, but as soon as he figured that the economy was bad, he figured he can't get anything. What does that tell you? It does its own in your head to a degree? Of course, we're not suggesting that there no impact from the economy. But but if you decide that the economy is wage. Only Factor that's going to contribute to your success. Then you're correct. Whatever your whatever your brain tells you whatever your mind tells you is going to be true. If it tells you things are bad way to be bad. Things are okay. They're going to be okay. Things are great. It's going to be great. I've seen countless number of successes over the years where people went through that economies that came out ahead and I've seen people that let economies that are even minor destroyed them because that economy wasn't as good as they expected it to be it's in your expectations. There are a lot of things she can talk about when it comes to that. But ultimately we want to focus on you and your business as a business owner you're going to be faced constantly with barrage of things that were going to be adverse and going to cause you to pause and think the whole world is going to collapse the key just this is to realize the world isn't going to collapse and maybe that's an illusion and Thursday. Illusion must be looked at as exactly that and if you have an illusion in front of you you wouldn't react in the same way, as you know, if you've known the reality the reality is you're able to navigate them if there's always something you can do in the reality is that that many ways to exit bad situations and in the right way and without having to have complete Devastation there may be examples even in this economy that I've seen I've seen a company that sells whiskey start selling hand sanitizer. What does that tell you? It tells you that there were a little bit more thoughtful and perhaps they ignored the reality that there are some situations bad situation out there. Now. I've heard other companies that are actually took advantage of the economy in the way it was as that selling more of their product example companies that are selling plexiglass home. They decided that they could actually sell the product to put barriers between tables at restaurants. So this is just an example companies that actually did something about it, but forget that forget a complete shift in your product and the exit mindset we talk about the product and that's the reason I bring that those companies up because in the exit mindset we say your product is king. And the number one thing you got to look at from an exit perspective is that if you're going to sell your company's what is your product? So if you think of the company that converted their w'iskey producing operation into hand sanitizer log Fashion to make more profit if you are a buyer that company what would you think when you come in during covid-19 figure maybe I buy myself a business because I want to do something other than what I'm doing right now off or on expand you are going to look at that company and goal perhaps that company has got more potential than the company. That's just selling a product can't even pivot the fact that the company can adjust to an adverse environment has made this company more palatable. I'll make you a bet that they would command about a price by the seller themselves by the company owner. They would say to them seller. Look look at this company is producing x amount of Revenue and even a covid-19 hit we just shifted operations. We still making x amount of revenues more or less or you never know just depends. So you just created a better valuation by having that ability and the ability not to think negatively not that person could have easily thought. Hey, I don't think it I could do anything here right now. I'll sell one month. Sell probably maybe people buy more or less. I mean there's an argument that people are drinking more but not everybody is exactly selling the same amounts. And a lot of people are finding that their product isn't selling as much and that particular company was selling a bit of a higher end product, but now they made made it through a different product line. So keep that in mind as you look at your company now, I'm not necessarily have to trick your product. Maybe you don't have the ability to change a product line easily. Even though I do think you should think about it take a look at your infrastructure what changes you can make in your infrastructure and exit Minds that we talked about the three components product infrastructure and conversation. First of all what and you can add your infrastructure that could be helpful to you? There are some companies that added people to their staff. Some companies just said we took it off again granted there are difficulties depending on the situation. But if you think carefully about your particular business, you're going to find some Pockets that you can improve on your infrastructure off iMessage s to go out and hire but I'm suggesting that perhaps a key higher might be useful somebody that could be beneficial to your type of business that could create business or help with the law that you have. That's one way to do it. Now. Another way to do it is maybe to streamline some of the excess fat that you have in your operation in terms of processes in terms of in terms of when one of my friends call it dripping Nichols blood dripping dollars three or Banking and business lots of times. You're going to find a lot of people off. Companies are just normal times that just spending on things that they don't even think about. It just makes sense. But if you look at your cost carefully might be able to streamline some of these things down a little bit of butter cash flow in your in your business. Maybe something you're spending on you don't need to maybe some subscription or something like that or some service. You don't need again. It's just depends. So that's the second thing the third element of the exit mindset, of course the conversation and I remind you or if you have not heard this before and this is your first podcast then the exit mindset have three principle that relies on and if this is the first time you've you listen to this podcast then we talk about the conversation the conversation is any verbal nonverbal communication that you would have with the consumer no matter what it is. Does it have to be written there's a few verbal any communication any perception the consumer have is it is the conversation you out with them. And here again, what can you do to improve the conversation? There are no every business is different. There are a number of ways. You can look at your situation and understand are you communicating with the consumer in a way that you can change simple case in point? I'm just going to bring that up because these are some of the things I see from companies that I that I look at some companies simply change the conversation to the fact that during covid-19 there might be ways for you to use our product or maybe they've given some discounts in some cases. They might have given some some add-on pack. They might add extra Services. Well, that's part of the conversation of the consumer your consumer will respond and we'll work with you probably because you have something for them that adds value to their life. So I'm not I'm not suggesting that there's one of these things or the other is a solution because every business is unique and the exit mindset is based on ideas that you can apply to your business and Company. So if you think about Thursday Things from a buyer's perspective a buyer of your company perspective you're going to be able to figure out things that you couldn't figure out normally. So the idea behind is that you you put yourself in the bar buyer's perspective that's going to sell your company during covid-19 situation right now that we have right now you as a buyer. What would you want from their company yourself? If you're going to buy your own company from somebody else again, as long as it's one of those three things that you could change that could make the company more appealing and more valuable is what you should be looking at. Let's go back to the story of the blind man. I was selling on the street again, if you just give up because the economy's bad and you think well, it's economy's bad. There's nothing I could do you just guaranteed loss dead. You just guarantee. They're not going to win and I'm here to encourage you until you that you need to change that and if you already have it do it even more you have to have the belief faith that it will all just pass all you'll able to navigate through that storm another metaphor. I could give you that can easily be understood is that you think yourself as if you're a ship in the ocean and there's a storm and it can do you have two choices. You could say I'm going to sink or you could say I'm going to get through it and my opinion if you believe you're going to get through get through it you but you set up your sales correctly. You have your crew aligned and you make things work and make it happen. So the key component is stay focused stay focused on the objective. And what I want you to do is start drawing a plan, but make it as Simple Plan. What is your ultimate outcome know when you want to get out of this dark over situation pretend is going to end up say in six months. Let's say I would say six months or a year so you can have two plans plan a 6 months Plan B. As one year, what would you do? How would you handle it? What other steps you need to take now? Who do you have to consult with? Who do you have to talk to which parts of the exit mindset. Do you need to look into? Is it the product is it your infrastructure? Is it the conversation you're having and then put those three side-by-side and start writing things you could do to privilege to change to make things better. To navigate through the storm and have some contingency scenarios where if this is to happen to get worse. What would I do hear? What would I do there? And if you do that. You're going to be able to get out of this as best as possible the idea behind it. Lots of times in business. You're going to find that the concept is not necessarily getting out intact but simply get out and if you get out you're pretty much achieved ninety percent of what you should be doing because the rest of it is easy one problem with a ship that sinks you can't take it out of those stuff to bring it back up. But if the ship starts limping to Port.
"business owner" Discussed on The Site Shed
"La Listeners and viewers welcome back to these photographs for part two of the system. Craig Time Reduce Errors and Scalia Prophets series that I'm crying with. The founder and Brian's behind system. How Ben System Dave Welcome? Back. Wall. Yes I feel like we left to everybody on a cliffhanger last episode. This episode, I will be losing sleep over this for sure and guys if he didn't get a chance to listen to episode talking about the true cost of not system was in your business, go and check it there. As always we structure these series are that these upsize all stemming to the previous catching that went out and then come back and watch this guy. So we're talking now about why the business I know is the person that docking the processes that certainly my experience. And me too I. Think this is a again an drawer on Michael Give her a few times because I length quite a lot from him. So he wrote a book called the Nathan if people haven't listened to that definitely hit UvA Amazon get themselves a copy of that one and also system as well. So get by. and Michael when I worked with him, I realized he's a creative he comes up with ideas and he can think about them and he's mind and then he brings them into the world and brings them reality. What I learnt was even though he is the systems, guys very well known for systems and processes of the whole idea of the is building business that works based on systems as opposed to. The business owner and I found that as I worked with him, he's not a very detail orientated systems person and he is a guy who is considered the poster child of business systems and processes. Yet he's got his team around him that really focused on that pace for him, and then it kind of gave me permission to go. I can still have systems sent a business and I don't have To be a detail orientated documentation guru who creates these systems and I in fact, I realized that I'm not the best person to do it and what I've fallen in love with as a business owner.
"business owner" Discussed on Talks with Chepe
"Talks with today in Studio, we have Kyle Watson founder and owner of dead. Sweet. We're GONNA, talk about what it takes to be a business owner and how to keep up with these modern trends. So let's get started. Up Scoring, on Kyle. Nothing. Much good to have you in studio today for all. You don't know if you didn't get by the INTRO. I got friend of mine. Carl Watson, he is the founder and owner of dead. So right correct as me. All right. So You don't know that sweet say clothing line but Kyle Wayne tells me about it. is a clothing brand that I started in high school. I think it was like two thousand sixteen started just as like an idea I was like drawing sketches in my notebook or whatever, and it just turned into this clothing brand you. Try, to stay modern stuff like that in things in that nature just obviously just because you're bored and you're like, you know what I want to make a difference in some like that you know trying to say, I, wanted to make like my Kinda like stamp on the world. You know what? I mean like you have my own. you say. Like A. Lear marginally you're saying. That people can relate to your. Perfect. I mean, besides you know the clothing line. You want to tell anybody about yourself. You know what your interested in things like that I know that. Sooner. Idea of what really is. Behind. The mind of that. Sweet. Well. That's we wasn't always a it's escape brand but wasn't always revolved around Skate My First Love was obviously riding dirt bikes and And Yeah. skateboarding came after that because. I don't know I found interest in it. Not, very, like independent sport now yeah I wouldn't take tight to be honest I. Don't know if anyone's ever told you this too but you kind of like fucking John Mayer. Do like John You tell me all the time John. Listen I can tell you stories gone out to bars and stuff and. This man I for some reason everyone comes out and tells me man that's why I think he looks like it but I don't take the skater type. You know for you to say you like dirt bikes and stuff. So it's Kinda cool and come up with your own clothing line things like that. So. Interesting because I can see how some people relate with the especially around in like in our community, there's a lot of there's a big skating scene I. Guess you want say I mean I've never been part of it. So maybe you can talk more about that. No the skiing scene is very huge I think the the thing about the most it's very I even. I am I I'm on individual kind of sport. So that same thing with like motor more. As well in any kind of racing. So. I know you start his back when you were in high school were sixteen. But did you have help from anybody starting to clothing line or is it something you know for like? I'm sure there's people out there were thinking about starting your own business especially now that we have all this spare time during. The Kobe in quarantine. So I mean, that's how I got started on my podcast wanted to pursue something. I always wanted to do Jevon advice for anybody trying to start their own business I know it's A. Different Times from two, thousand, sixteen but. You know I think my advice would be don't do it for the money. Definitely do it for definitely do it for the. Just the love of what you WanNa do you know what I mean?.
"business owner" Discussed on KLBJ 590AM
"A business owner and they are very disturbed by what the city council is doing but they they're kind of afraid to speak up will city your business owner I would be too but the other thing is simplicity from the police and see which cartel takes over to somebody's gonna fill that void yes it will happen one away thank you five one two eight three six zero five ninety of the essence of the text was we want to speak up and we're not alone there are a lot of business owners who want to speak up but we worry about retribution now think about that yeah you can't blame them when you have she's not the judge anymore but the Travis county judge Sarah Eckhardt you go to a business public shame them if they're not doing what you what you and I think should be done they're they're not requiring you to wear a mask if they're not requiring you to sign in public shame them you know that and that's a good point in remember when mayor Adler was saying public shame them and we get the name of everybody at the restaurants in the store shaming restaurants that are not requiring mass yes so it's understandable when these people text in and say look we own businesses we would like to speak up about what they're doing to the police but we worry about retribution while in this business owner says we're making a plan we have started a plan on how we move away yeah what a nightmare for the businesses have had to fight the homelessness for about a year and a half the pandemic and now the thought of who we gonna call of something bad happens at our store what little social worker show up there will be a person with a gun in a batch well the city says they preferred that it be a social worker or someone from the parks department or the health department and I got another text coming in business owner here our company will leave quietly to do anything else will result in having our business we went by the mob all right that'll do it for today we've got sports talk coming up next and what's on the menu for the sparks we've got live sports today it's the PGA tour fort worth McGinnis says that with live live golf now around the band also a special visit with Cedric golden of the American states the talk about UT and race relations are also Chris I'm embarrassed to have the Round Rock express there's gonna be baseball at express time and this year it's not going to be pro it's going to be college baseball we'll talk about that yet another yeah another great line up and Melinda will have all of your traffic updates Brandon Elkins thank you super job producing have a great afternoon we're back tomorrow two to four on jail B. J. are you hi this.
"business owner" Discussed on Marketing Management and Money
"It'll go to both of us or you can fight us. Twitter at 'em small Biz. So if you have anything that you'd like us to cover in one of our upcoming episodes feel free to reach out. Let us know but today's topic it's going to be one that is. I don't know if it's You know good bad or indifferent. I I think it's I think it's just different. It's a different approach of doing business. And that is the lifestyle business owner right so a Lotta Times. I think that there's so much emphasis especially in our western culture so much emphasis put on the dollar right making money and as well as the success. Right I feel like a lot of times in in eastern cultures. There's a lot of emphasis put on success and prestigious. Nece you know her Steve Richness Prestige. Yeah sure go with that one But nonetheless yeah what if there's a different way what if there's something else to value or of Value. Maybe that's not right for everyone but for some people so. I think there's a big question floating out here and that is. Why are you doing this exactly? And and and and that's you know like every single entrepreneur should be asking themselves this question of. Why am I doing this? Am I doing this? Because I'm trying to be the next big thing and have all the fame and glory and everything that You know comes with being that successful business owner doing this to provide a better life for my family to you know. Make sure that my kids Have you know there's There's a really interesting Study that was done It's a book. It's a little bit old at this point the millionaire next door. Yeah and in that book. They talk about that. There's this There's this tendency for entrepreneurs to not want their kids to be entrepreneurs. They want their kids to go into professions. Like law or medicine. Or you know some of these. Other that are esteemed professions but not the typical business owner. So are you doing your business because you want your kids to have a better life? Are you know? Why are you doing what you're doing? Yeah and and again. I think that for those who choose a little bit different path other than money or other than success. It's it becomes more. What'S THE WORD. I'M LOOKING FOR INTRINSIC. Okay yes so driven morals of driven Yeah so I I feel like if if I had stumbled across something that was just beautiful right like perfect step into like. Oh well. That's a great product and I could sell that that's easy you know I feel like if I had that Opportunity. I feel like I would definitely be that type of entrepreneur. I'd be a lifestyle type of an entrepreneur where it's like you can make that work and you can make a living at that and it's a matter of getting your cash flow where it needs to be and then working on different efficiencies and things like that a little bit here and there and keeping some things in check but ultimately at that point it becomes. Hey you're you're making the money that you need and then all of a sudden you move onto all the other stuff that you want to do right right. Everybody talks about you. Know I'm going to become rich and famous so I can just do whatever right. Well you don't have to be rich and famous to do that. You could just have this lifestyle business and for a lot of people. Well there are two things I think that there are a lot of people that that strive for that and get wrapped up in that and whether they have a hard time reaching not or or they just naturally fall into it that still like The drive right. That's really important for them. But then there's also this this this other kind of a poll where you get into that type of business or you're shooting for that type of business and it's really really easy for a lot of people to get sucked into the gotTa make more money like gotta be bigger company to grow more or do more or be faster or better you know and and I think that we should kind of point out that we're not advocating. That one is right and one is wrong and one is superior and there's there's a better way to go we're really saying let's explore this. Let's figure out what's right for you because some people they love that success like Oh. I know a lot of entrepreneurs that you know. They could retire today in fact. I've got this This friend who he owns his own business and He's under forty and literally if he wanted to. He could retire today and maintain his lifestyle is not an extravagant lifestyle but he could maintain his lifestyle and do that early retirement. But that's not interesting to him and so he he kind of pushes and he's got that drive and he wants to. You know really try and make something big happened leave. A legacy is already you know common concept and you know so so there's not one that's right one that's wrong but I think we need to explore what are the what are the benefits. You know what what are the pros and cons of each? You know if I choose to be a lifestyle entrepreneur if I choose to be a success driven entrepreneur you know. What are the pros and cons of each? Yeah well and that's what I was getting is like you. You can get pulled one way or the other. I guess really no matter where you go. Whether you're shooting for a lifestyle type of entrepreneurship or a success driven entrepreneurship can can I back up for just a short? We probably should define what we mean. When we're saying lifestyle entrepreneur. Okay Yeah Yeah. You're probably right so I feel like a lifestyle. Entrepreneur is someone who can create some sort of income from entrepreneur entrepreneurial avenues that supports whatever. Lifestyle that they they feel they need or they want and that's only to to maintain the financial aspect of it and allow them the time and freedom and space to be able to do other things to spend time with family or to support hobbies support hobbies to these debt to take up other ventures. You know you'll see a lot of these guys who guys and girls you know. I'm just using that kind of as a generic term but you'll see a lot of these guys who they will have a business that the only reason they're doing is to support something that doesn't make money you know maybe they're into amateur competition and you'll see that a lot where it's like. Oh well I started my own business because I couldn't work a nine to five job because I want to travel around the country. You know racing or cycling or whatever whatever they're into and so they'll pick this this business where they can do it via computer from anywhere with Internet. Yeah from the shuttle buses there awaiting. Yeah finish that last leg and you know and so that's what we mean when we say lifestyle it's it's not nine to five a lot of times it's under forty hours a week. Yeah goal and I feel like that's part of the definition. Is You WANNA trim this down time wise so that you can pursue whatever else right even if that's the sitting on the Beach Sipping Margaritas? You know what I mean. Yeah that's the lifestyle shooting for and they WANNA do that for ninety hours a week. They're only you don't WanNa work for like ten. You know so. So I had this lady that I worked with and she was doing eyelash extensions and she got in at Ground Level. Like right when these things were really starting. I mean now everyone is. You know it's not. It's not all that crazy. It is all that crazy but there's a lot of people that do it so at the time that she was doing it. There weren't too many practitioners in the field and business that she created was actually training other businesses on how to do these eyelash extensions and it was so interesting because when I first started consulting with her I am mmediately and this this was when I had only been doing business consulting for about two years at the time and so I started a little bit new and I immediately went into the success. Like oh hey we could grow this business. We could really make something happen and it just wasn't working. You know like everything that I'd say. This is what you need to do this. Which focus on she. She wasn't biting like this was in resonate with didn't resonate with and I. It finally came out that what she loved most wish she got to travel like crazy. Do all trainings. And so she's all over the United States. I don't know she did much international but I know that she was all over the United States and really for her. Her business was a vehicle to make all of her travel. Just be you know a business expense. And she loved it. Oh yeah well she absolutely loved it but it created a lot of frustration in the business because the company was always kind of this jumbled mess in terms of like you know the financials and the employees because everyone's like where's the owner. Oh well she's she's out traveling again. She's onto the next. You know training show because she wanted to be on the beach in January not here. It's freezing cold and that's you bring up a really good point that I think will be interesting to dive into. I'd love to get your kind of take on. It is that so and and I've seen this happen as well. You have this entrepreneur that is pursuing this lifestyle type of a business and they get into it and again the the goal a lot of times to trim down the amount of hours. You're spending in a so. I've seen where it's easy for entrepreneurs of this type to shrug things off or let things go by the wayside so that they.
"business owner" Discussed on The EntreLeadership Podcast
"No you said on our operating board and and Dave is very much in this stage right now where he's thinking about how our business nine hundred people lives is passed him. So what has it been like to get to spend time with a business owner that is in that stage. Well it's really great. You know and I gotta be honest. I was really in mature and and kind of naive in my world view about business when I started here and Davis taught me so much about thinking about this idea of legacy and what. I've learned what I've been inspired by as I've ever as I've said at his feet and I've I've heard more about this idea of second generation and third generation fifth-generation businesses that are thriving. You know it really is sad when somebody works as hard as most business owners work to build something and they're planting in these is fields that at the end of their time that the whole field just dries up. That's really sad. It doesn't have to be that way because they're still employees. They're still customers you. You've done all the hard work to get something off the ground. Nurture it and feed it and it should live beyond you. That's one of the really cool things about businesses. You can create something that for generations to come continues to have some type of life some type of energy some type of blessing people whether it's the the team or the customers hours and of course it's going to evolve and shift and the business model is GonNa look different from generation to generation but you could start something and get it into motion and so I would just challenge you know if you're on the treadmill and you go on sounds great but I'm just trying to pay the bills I get it. It's hard to think about legacy at that stage but ultimately what's life really about out. It's not about us. It's not about just growing our lifestyle and in the bills and and getting to have material success. It's about investing in people and bring in life into to the world in a way that they're really empowers people and builds people and so we get to do that with our team we get to do with our customers and and hopefully we get to do it in a way where they get to continue. Doing that was something we started even. We're not here well there. You have it the treadmill operator. The Pathfinder a trailblazer the peak performer. And it's all in and the pursuit of being a legacy builder Daniel and Sarah. Thanks so much for your time today. Thank you for walking this path so that others. May You know as you're listening to that the thing that's probably going through your head is okay. Well what stage am I am. What stages our business in and as you start to become more aware aware of kind of where you self identify as a business leader the next question that always comes up for someone that's growth oriented is okay? Well how do I get the next level. How do I get to the next stage? And that's a question we've asked for a long time now and we're starting to get some answers because we've learned from business owners around the country that if you're going to move from one stage of business. Ns to the next. It always demands intentional and deliberate focus on six key areas and so as Daniel and Sarah said if you want to know where to go you gotTA. I don't know where you are. And so we've created an assessment to really evaluate your strengths and weaknesses as a leader in each of these six key areas..
"business owner" Discussed on The EntreLeadership Podcast
"And sweat equity and then you know it just closed down your decided to retire that stinks breath and Daniel. No you said on our operating board and and Dave is very much in this stage right now where he's thinking about how our business nine hundred people lives is passed him. So what has it been like to get to spend time with a business owner that is in that stage. Well it's really great. You know and I gotta be honest. I was really in mature and and kind of naive in my world view about business when I started here and Davis taught me so much about thinking about this idea of legacy and what. I've learned what I've been inspired by as I've ever as I've said at his feet and I've I've heard more about this idea of second generation and third generation fifth-generation businesses that are thriving. You know it really is sad when somebody works as hard as most business owners work to build something and they're planting in these is fields that at the end of their time that the whole field just dries up. That's really sad. It doesn't have to be that way because they're still employees. They're still customers you. You've done all the hard work to get something off the ground. Nurture it and feed it and it should live beyond you. That's one of the really cool things about businesses. You can create something that for generations to come continues to have some type of life some type of energy some type of blessing people whether it's the the team or the customers hours and of course it's going to evolve and shift and the business model is GonNa look different from generation to generation but you could start something and get it into motion and so I would just challenge you know if you're on the treadmill and you go on sounds great but I'm just trying to pay the bills I get it. It's hard to think about legacy at that stage but ultimately what's life really about out. It's not about us. It's not about just growing our lifestyle and in the bills and and getting to have material success. It's about investing in people and bring in life into to the world in a way that they're really empowers people and builds people and so we get to do that with our team we get to do with our customers and and hopefully we get to do it in a way where they get to continue. Doing that was something we started even. We're not here well there. You have it the treadmill operator. The Pathfinder a trailblazer the peak performer. And it's all in and the pursuit of being a legacy builder Daniel and Sarah. Thanks so much for your time today. Thank you for walking this path so that others. May You know as you're listening to that the thing that's probably going through your head is okay. Well what stage am I am. What stages our business in and as you start to become more aware aware of kind of where you self identify as a business leader the next question that always comes up for someone that's growth oriented is okay? Well how do I get the next level. How do I get to the next stage? And that's a question we've asked for a long time now and we're starting to get some answers because we've learned from business owners around the country that if you're going to move from one stage of business. Ns to the next. It always demands intentional and deliberate focus on six key areas and so as Daniel and Sarah said if you want to know where to go you gotTA. I don't know where you are. And so we've created an assessment to really evaluate your strengths and weaknesses as a leader.
"business owner" Discussed on The EntreLeadership Podcast
"I cannot wait to meet you in Orlando. This may and I'm stoked about what we're about to lay out for our audience audience because I think that the perspective Y'all have is really unique in that Daniel you were entree leadership team member number one. Sarah was the team he was. Yeah that was on ener salesperson was the VP. y'All should regain. As bad. I halfway did everything. Ah Got Words Clearly Sarah. How big was the team when when you started when I started there were seven of us on the team and ironically that was seven seven years ago so crazy I know? And now we're perching seventy people and it's just been wild the things that we all just used to pile and do we. Now have these amazing. Using team members that are fully dedicated to doing those things that are just upping our game and allowing us more time to sit down and put some thought into this clarity peace right so you you too have been instrumental in the leadership of entree leadership as its own small business because it operates on its own. PNL It operates like a small business in our company. But then you've also sat sat in leadership meetings as Ramsey has grown through these stages and followed this path but then also our team and youtube specifically have worked with thousands of small business business owners around the country. And it's been so cool to see how we've started to pick out okay. These are things that apply to every business it transcends industry. It doesn't matter what you do where you are. What stage are these principles apply to you and so I'm excited? That's what we're going to lay out for people as y'all perspective on the stages what is the value value in knowing the stage of business that you're in today. Why is that really really valuable to understand that such a great question so what we're going to lay out here in a second what I want our audience to hear as we're GONNA be beating the drum for the next twenty years on every episode every event every discussion is going to orient around this clear guided path and and that is that there are five really critical stages in business to go from what we call the treadmill operator ultimately to peak performing business and eventually building building a legacy that you're thinking about second generation it will impact these five stages here in a second but to your point if you don't know where you are and you don't know where you're going you're not gonna get anywhere and so to understand I'm at a stage and that's normal and I've got friends at this stage and we'll start at stage one if I don't know states to to exist how am I ever GonNa Ford? You know I'm just GonNa feel overwhelmed and then only after I've done stage to. I can progress to stage three. And you know that's true in any kind kind of goal setting especially in a in a short term go Kay. I got to build up the miles to run the marathon but oftentimes we don't think about business that way in stages of training if you will or progressing pressing and building blocks because it's just all the things and it's all overwhelming and I'm reacting to stuff all the time and oftentimes Alex. What makes me really sad as we talked to? Business owners who they've lost their so excited and there were so passionate when they started sending reason they started it and they forget about the reason why you know what happened they just got overwhelmed with perpetuity and infinity. And it's just always come into the office and just respond and they kind of forgot where they're going and it seems seems like they get this lie in their head that it's always going to be this way. Yes and they lose hope well part of that is we. Were talking about this earlier. A lot of our business owner friends are very isolated. They they don't know other business owners. And so when you're the only one in your realm is experiencing something you just start to think okay. This is normal. This must be what it's like. This must be the forever ever and so what we really love about entree community. Is You have that community around. You say hey you don't have to live in this. This is not normal you can continue making strides. It's and bringing up people with you and delegating and you can get back to that why that you dreamed about. And so that's what we're going to tell all to do as you're listening to this. We're GONNA walk through through the stages in Daniel and surrogate. I'll tell you a little bit about the kind of the challenges that each stage faces and give you kind of the overview of what each stage looks like when you're in it. I'm in our challenge. y'All to has self identified to figure out where you are because once you figure out where you are you can also start to think about okay. Where do we want to go? So let's go ahead and jump in the first one. You already alluded to it. It's the treadmill operator. Most people hear the Word Treadmill and they start curtains right. No one likes running on a treadmill. So why is stage. One called the A treadmill operate so I thought maybe we outlined all five stages just real high level so we can kind of get a sense of where we're headed and then maybe come back around and deep dive in each one. The idea is that most small businesses start out what we call the treadmill operator. You're just kind of surviving each day. And then if you get dialed in on this and realize that doesn't have to be the in game name because it's not sustainable. Yeah you can't sustain sucks. It's not fun go. Telemarket is step. One is get off the treadmill. A treadmill is where we tend to start phase one phase two is the pathfinder. You're on a different path. You're going to work on it not in it. And then you get results and you become a trailblazer. You're actually blazing new trails and getting some traction and union teamer winning and then you can become a peak performer. And this is where I want. Every business to be performing. Business is at the pinnacle of their game. They've they've got the right team and systems and product and customer feedback. And it's all just humming in that business owner that stage has really able to direct energy. And it's not all on their shoulders to to drive every project and initiative all the time and if if they skip a day at the office things go backwards. It shouldn't be that way. Business owners work way to hard very often for the fruit that they get and it's not a matter of how hard they work. It's how smart they're working and putting the right team in place so that they can delegate and be on top of it and if you do that long enough you start Guanaco. What's that business owner GonNa do when they think about retirement or them? Not being in the picture. Do you have the team. That's going to carry this forward. And that's the fifth phase and we call that the legacy legacy builder so treadmill operator then. You're pathfinder than your trailblazer than your peak performing business. And then your legacy builder and those are the five stages very very good. So let's jump in on that treadmill operator if someone is in that what are they feeling and what are they doing right now as a business owner if they are the treadmill cooperator often these folks go home and they feel like they could work for days and days and days and never get everything done. You know they're just trying to make payroll. They're trying to meet all the needs. They wear a lot of of different hats and they don't feel like they can necessarily delegate to anybody and taking a vacation is pretty much off the table because otherwise the whole business shuts down and there is is a stage of business where it's like you kind of have to be on the treadmill right as you're getting there getting in what's called a startup. Yeah that's right that's right starting it up but then it should run. That's right well and I'll say this to the treadmill operator oftentimes is unaware. There's even a better way and so I would wager. If you're listening to this podcast you might not be too far from being a pathfinder by the nature of Oh there's a thing called a podcast. I could listen to to get information to learn how to do things better like that. Kinda it makes you an anomaly. Most business owners. Don't listen to podcasts. Most business owners don't read a book most business owners they just come in and they do the thing that their dad always did did who started the business or they get out on the job site and start swinging a hammer along with their crew just knowing that you can work on the business and that your knowledge is the leader as you consume more and you grow yourself as a leader is a factor like being aware of that is a big step to getting off the treadmill so this is more working in the business than on the visit almost exclusively in the business it sounds like and it sounds like it's you almost don't even own a business unit. That's exactly what I was GonNa say and the other thing I just want call out for anybody who's wired like I am. I want everything to be tidy in. It's little box and everything working perfectly and then I can handle the next thing. What is scary about this? Is You have to start letting some fires burn so you have to start realizing the right things for me to spend my time on. But that means I can't necessarily get to everything because if you try to do everything into everything halfway and you're never going to get out of this face so you have to start intentionally taking some time to say I'm going to focus on these things and there's a little bit of risk to these other things that I'm not going to spend some in time on that but these are the only ways I'm going to get out of this face so I think you are. He come answered my next question which would be what one action can. TREADMILL operators start to take and Daniel. I guess I'd ask you the same question. There are businesses out there that plateau at the treadmill and they either die or the leader Burns out or they just never ever continue past that point. What is one action? The treadmill operator can start taking today to start moving forward while the easiest step is to spend and some amount of time every week in reserve it on your calendar to say. I'm not GonNa just do the work but I'm going to have a little bit of time where I think about the work and I play the work and I grab a team member to and I asked him to zoom out from just the task of the day and go. How are we doing Stephen Covey and the seven even habits of highly effective people? He talks about that leaders are strategic and they climbed to the tall tree in the jungle. Cruise down hacking away at the branches. And they go. Hey we're we're in the wrong jungle. You know that the team can be working their tail off down here and so it's just taking a second to go..
"business owner" Discussed on Defenders of Business Value
"As a small business owner odds are you're not going to pay attention to it until you're ready to sell. <hes> do yourself a favor. Get Your Business ready to sell before you're ready to sell and you do that by giving conscious engagement to this topic on a regular basis doesn't have to be ours doesn't have to be every day or every week but ah every month put a half an hour in your calendar read an article. Take a look at the newsletter do something to engage the topic yeah. What's what's the best way we can connect with you. I Know Exit Oasis Dot Com. I will put in the show. Notes the link to your newsletter as well as the link to your course any place else that you're hanging out. That's where I started. We'll keep it basic. We'll keep the content clear. We don't. We're not selling your stuff there. <hes> they're signing up for the newsletters going to get a copy of our free e book <hes> engage the topic. If we can help you do that great. If do you find someone else's content. It's on our site and they speak more clearly to you chase after them engage this topic find a way a to do yourself a favor of of thinking about your future dumb and like I said earlier I was looking forward to it and you delivered exactly what died hoped you would and I'm so grateful for the time I hope this is the first of many conversations we have would be my pleasure. I enjoyed it. Well cheers..
"business owner" Discussed on The Independent Wealth Planner Strategies Podcast
"Include the business owner will have a willing buyer for the business at his or her death. The business owner will know that the key executive will the person managing the company after the business owners death or retirement the proceeds from the sale may provide a source of income for the business owners family after his or her debt the key executive and will receive bases in the stock equal to purchase price disadvantages would include the business owner must rely on the key executive to actually purchase the business after the business owners death or retirement. The key executive must pay the premiums for the life insurance policy the life insurance policies cash value would be include -able and the key executives estate if he or she wore to predeceased. The deceased the business owner and then the business owners family would no longer own the portion of the business soul to the key executive. Here's a video explanation on how executive of compensation plans work how.