Mike Finger’s Post

Exit Strategy Essentials: Recognizing the Telltale Signs via https://ow.ly/Svtk50QX0hT #exitstrategy #entrepreneurship

Many small business owners ask the question, “How fast can I grow my small business?” The simple answer to this question is, “It depends on how much capital you have.” Let's review the example of a boot-strapped Service Company. #entrepreneurship #smallbusiness #management https://lnkd.in/ejjhT_ps

Thinking of buying a business? Don't make a costly mistake, ask the right questions before leaping! Check out these essential questions to ask when buying a business: #buyingabusiness #entrepreneurship #smallbusiness  

Owning a small business should help you plan your life. The business shouldn’t be a wildly uncontrollable entity in your life. Operating a small business well affords you the opportunity to learn, trust and navigate market dynamics. Making decisions to keep debt low, customer satisfaction high and infrastructure investments conservative means you remain flexible to navigate the ups and downs. For instance, a large and overleveraged business sees a market downturn as a huge problem. You’ve gotta pay your bills and make a profit while the market is fighting against you. A more nimble and light weight business might use the down turn as a chance to save on marketing or invest in machinery that’s got some deferred maintenance. Perhaps it’s a good season to think about buying that new warehouse or moving the family to a home better suited for your new lifestyle. Maybe it’s just time to get the family to the beach to recharge while customers aren’t calling as much for a week or two. If you do it right, there’s no one telling you what performance metrics you MUST hit. You put the accountability structures in place to ensure you’re being your best self, but you absolve yourself of quarterly income goals that can drive a small family business owner mad. At Myrrh and Hyssop, we love discussing these dynamics with highly motivated entrepreneurs that operate with a long game mentality. Be well, -John

'You can't manage what you don't measure' - Peter Drucker   Numbers are the kinds of things you either like or don't. Surprisingly, a lot of entrepreneurs don't like them and as a result are not really in tune with their financials and the health of their company. Understanding our key metrics is super important and doesn't need to be overly complex. A few key measures and a way to track and review them go a loooooong way to building that management muscle.   The article below outlines the 7 metrics that small business owners and entrepreneurs need to understand and master. Some may be obvious but I like the way the author explains what they really represent.   These seven are a good start for financials. Any other metrics you find helpful in running your business?   #metrics #measureforsuccess #entrepreneurship #smallbusiness #businesscoaching #businesssuccess

One MASSIVE Mistake That Costs Entrepreneurs ⏰ & 💰 If there was a time, energy, and money leak in your business, how soon would you wanna know? I went years without anyone telling me this one hole in my business, and as I look back, it dramatically slowed down my progress. Curious what that leak is? Here's the deal... If you don't take time to be the captain of your ship and you remain the worker on the ship, > Who's The One Navigating The Direction Of Your Life & Business? Sadly, that seat will remain vacant, and you'll end up wherever the wind takes you. I call that operating by default (running passively) instead of driving with intention (actively controlling the direction you're taking). It's a hard lesson I learned after years of working tirelessly, with a fraction of the success I envisioned until I jumped in the driver's seat and began to proactively go in the direction I actually wanted. It's how I came up with the concept of Business On Your Terms™. See, when you build a Business On Your Terms, you can → Create a work schedule... on your terms → Market your business... on your terms → Develop and sell offers... on your terms → Make the money you want... on your terms → Take more free time... on your terms Ultimately, a Business On Your Terms™ is built around you and what you want your life to look like. For example, you can choose to work a 4-day workweek. If that's your terms, then you build your business so that it only requires you for 4 days. If you choose to be done with the day by 3pm so you have the afternoons and evenings off with your spouse and kids... or to unplug and go hang out, exercise, or just have dinner with a friend, then build your business so you're no longer needed after 3. See what I mean? This puts you back in the driver's seat of your business (and life). It all starts with architecting your business in an optimized way for more time, money, and fulfillment. Because when you do... You become powerfully positioned to use your God-given gifts, talents, and abilities to impact the world. Are there any shifts or changes you have to make in your business so that it gives you the life and family you want? > Leave a comment or share this post with someone who you want to encourage with this message.

The #TechnologyBusiness is full of #Entrepreneurs and #smallbusiness owners. And the first thing most learn, is that you don’t get to just focus on the #tech, but also have to do all the things that go with owning/managing a #business. #itmanagement #technologyadvisor #ITManagedServices #masteragents #TSD #solutionsprovider #channelpartners

Small business advice: If you are about to start off in business you will have no doubt heard these comments: “So many businesses fail. Why are you doing this?” “I hear that you need a large amount of money to get a business off the ground these days.” “Why are you throwing away the security of your job?” These, and more of the same, are typical of the barriers that so called friends and advisers, put in your way if you are thinking of starting a business. These barriers are built on the back of myths about the pitfalls and challenges which surround running your own business. In this article, we’ll take a look at some of these myths and reveal them to be exactly that … just myths! Don’t get me wrong, being an entrepreneur can be tough and there are hurdles to cross, but let’s bring some common sense into the debate! You Don’t Have a Personal Life Yes you will! It can be hard juggling the responsibilities of running your own business and spending time with the family, but at the end of the day, you are going to have far more flexibility with your personal life, than any employee will ever have. The real issue is, do you have the time management and planning skills to get things done, thereby allowing you time to spend with your family. You Have To Be Cunning and Ruthless To Be a Successful Entrepreneur Ok, it may help you in the short term but this is not a sound, long term strategy. To be a successful entrepreneur you need to build relationships with both customers and suppliers who will stick by you during the rough times. Being ruthless over pricing may get you one or two good deals but you are unlikely to build a lasting and profitable relationship. Your aim should be to strike a balance between what you want and what your customer or supplier wants.

Becoming a business owner offers the freedom to control your lifestyle and the potential to grow your income, but it comes with risks. Success takes time and effort, and while long-term ownership can lead to significant profits, it requires determination. If you're ready to embrace both the rewards and risks, I can help guide you in finding the right business fit. Jeffrey Elder | 512-507-1245 | [email protected] #Entrepreneurship #BusinessOwnership #FinancialFreedom #RiskAndReward #BusinessGrowth #MergersAndAcquisitions #SmallBusiness #SuccessTips

Ready to start that business you've been dreaming about? Read out our latest blog to weigh out the pros and cons. Plus, don't miss our free "Starting a Business" checklist! This comprehensive guide offers actionable steps to help you navigate the challenging journey to entrepreneurship.