In This Episode Today we were joined on the show by business owner Jeremy Orsky of Ohio Collision Group. Jeremy […]
One of the great things about buying vs. starting a company is that when you buy a business you have some history and some things established. Things like customers, vendors, and employees. When starting out you have to build everything from scratch. As you might imagine, when you’re building something from scratch it’s easy to put your stamp on the company. But how do you do that with a company you just bought? What if it’s one your family started? How do you honor what they’ve built but still put your own stamp on the company?
Today we were joined on the show by business owner Phil Billick of Valley Ridge Farms. Phil was one of MVP’s earliest coaching clients with a prior company he started and he is also Jack’s nephew! During the show today Phil shared his story of not only starting, growing, and then eventually selling one business, but also how he’s been involved in starting several more including his 800 acre farm in southeast Ohio.
Today we were joined on the show by business owner Ben Ihde of Wild Birds Unlimited. Ben was a coaching client of MVP for several years and is a repeat guest on Dirty Secrets of Small Business (see link below for his February 14, 2019 appearance). During the show today Ben shared with us what’s been going on since we last heard from him.
One of the most overlooked opportunities for growth in the small business world is that of acquiring other companies. This could mean buying out competitors or perhaps adding new products or services to your current offerings. It could also be a way of expanding your geography or finding some good new customers or team members. There are many benefits of growing through acquisition which we discuss during the show today.
Whether you’re currently contemplating starting or buying a business or if you already own a business, one question you might be asking yourself is if you’re cut out to be a business owner. Depending who you talk to you might hear things like “people are born to be entrepreneurs” or something similar. Don’t always believe the hype!
If you’ve owned your business for several years, chances are someone at some point has talked to you about a business valuation. Either someone has asked you directly what your company is worth or the idea of your company’s value has come up in conversation. The question we address in today’s show is just how valuable is a business valuation?
It’s rare that a small business owner wakes up one morning and decides it’s time to transition their business to the next generation. It’s something they usually think about for a while, likely many years before they are finally ready. But once they decide they often want it to happen yesterday. But before the current owner leaves they want to make sure the next generation knows everything they need to know about the business. So how do you figure out where to start?
If you’ve ever been involved with the buying or selling of a business, chances are you’ve heard of a term called seller’s remorse. Even if you haven’t been involved in a deal it’s likely you’ve heard about it or seen it. And it doesn’t matter how large or small a deal is, it can happen to anyone…even a billionaire.