Dirty Secrets of Small Business examines the tough topics small business owners face as they are running their companies. On this week’s show, Jack Mencini and Adam Sonnhalter of Maximum Value Partners, broach the subject of your business style and how this relates to the clients you do business with.
Key takeaways are: Know how you, the owner, like to do business and stick to it. If you are true to your objectives and how you want to run your business, you should find yourself saying “no” at least a few times per year when it comes to new clients. If you are working with a customer that only brings you headaches, backaches and other aches, in the end, it is probably best if you terminate a bad business relationship sooner than later.
This week’s show also covers Jack and Adam discussing the dirty secret of the week that “Not everybody is cut out to be a business owner.” Some red flags that you won’t be a successful business owner are:
- If you are spending money from the business as soon as it comes in;
- If you don’t hire and retain good people;
- If you focus on a paycheck or
- If you are indecisive when making tough decisions to ensure profitability and end up hurting the business.
Tune into DirtySecretsofSmallBusiness.com to catch up on all the podcasts and learn more on how to be a productive and successful business owner and if running a small business is really right for you!