Today we were joined on the show by business owners John and Terri Sonnhalter. Oh yeah, they also happen to be Adam’s parents! They shared with us their 40+ year journey of working together in a business as spouses. We heard from John a few years ago when he appeared on our show back in January 2020 (see below for a link to that show). But this time, Terri got a chance to share her side of the story!
How Do I Get A Customer Who Owes Me A Lot of Money To Pay?
One of the dirtiest of little secrets we’ve discussed related to business ownership on this show over the years is that as a small business owner you’re also running a bank. With all the talk of recessions and tough times ahead, if you haven’t had this issue before, chances are you’ll be dealing with some slow paying customers over the next year or so. Today’s show is to help make sure you stay on top of your cash flow, particularly as it relates to those folks who are extending their credit with you.
How Do I Figure Out Business I Want To Buy?
If you’ve been around us at all then you know one of the things we specialize in with our coaching is helping people with buying and selling companies. Not only have we helped hundreds of people with various transactions, we’ve also bought and sold several businesses ourselves. So as we finish one year and head into the next we thought it might be a good topic to address for those of you who are thinking about buying a business in the new year. This could either be an add on to your current business or perhaps it’s your first business.
Rapid Growth, Bob Scaccia of USA Firmware
Today we were joined on the show by business owner Bob Scaccia, who is the Founder and CEO of USA Firmware. Bob shared with us some of the ups and downs of his first decade in business and the tremendous growth he’s seen over that time. We heard from Bob a few years ago when he appeared on our show back in January 2019 (see below for a link to that show).
How Do I Know If I Should Have A Partner?
We are big fans of partnerships. Surprisingly, we tend to find ourselves in the minority when it comes to that positive view of business partners. We’re guessing you may have heard a lot of negatives about partners as well. So why do we often recommend that business owners look for good partners?
How Often Should I Contact Past Customers?
Everyone loves something new and shiny! Many of our small business clients refer to those bright shiny new objects as squirrels. But while we’re all chasing these new shiny objects, we might just be missing something that’s right under our noses that can help grow our businesses. Past customers.
Is It Right To Use Your Vendors As A Bank?
One of the things nobody tells you about when starting a business is that you’ve unknowingly signed up to play the bank. Every time you provide credit to a customer you always risk having someone like Wimpy from Popeye who will promise you the world for that hamburger today! So knowing how it feels to have some customers ask you to play the bank, is it OK for you to do the same thing to them?
How Much Growth Is Too Much?
One of the common refrains you’ll hear whether it be in business or life is something to the effect, “If you’re not growing you’re dying.” A phrase like that can put a lot of pressure on a business owner to constantly be growing. But what does this really mean to grow? How do you plan for all of this growth? And is it possible to have too much growth?
How Do I Know If Something Is A Fireable Offense?
One of our favorite things about small business when compared to big business is that small business allows you to have a heart. Big organizations can often feel cold and impersonal. But with that “heart” of small business also comes a lot of emotion. Our topic today covers one of those emotional reactions that is pretty common for a small business owner, trying to figure out if something is a fireable offense or not.
When Do You Throw In The Towel?
Chances are if you’ve been in business for yourself for a little while at some point you’ve wrestled with the thought of throwing in the towel. Many things could trigger this thought. Anything from losing a big customer or key employee or it could just be that you’re tired and worn out. Whatever your situation, understand you’re not alone.