Practical Ways to Increase Your Business Value

Description

Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today's episode, they are talking about processes and how they can help streamline your business and make it more profitable. The experts are talking about practical ways of increasing value. Greta Schulz from Schulz Business SELLutions is talking about how to bring your organization to the next level and Dafne Tsakiris from Launch Point Co of Denver Colorado offers very practical tips to streamline your business. Coach Michael Dill from ActionCOACH is also joining today's show to share his experience and practical advice for business owners to be more successful.

Key takeaways:

[4:39] Greta Shawls (Shawls Business).

[5:16] If you are trying to sell, you need to pay attention to the internal processes of your business.

[6:37] How do you help a Baby Boomer business owner to modernize?

[9:02] Greta talks about the discovery process she leads clients through.

[10:26] Once business owners discover what they need to do, how do they implement it?

[14:12] Coaching helps but you are the one who needs to do the work, self-help has to come from inside of you.

[18:30] Greta talks about the importance of following processes.

[21:30] Hiring the right people is one of the most important things you can do for your business.

[27:10] Deal of the week: Hollie Choe (Central Oregon) sold a business in the commercial cleaning field; the sellers have built this business for over 10 years. SDE $450,000. Sold at $1.15 million, all-cash offer, no financing.

[29:41] Dafne Tsakiris talks about herself and her company.

[30:22] Dafne defines processes.

[31:37] Dafne talks about the importance of processes and systems to the success of a company.

[34:12] How does a business owner start to document all the processes?

[36:07] How to avoid getting overwhelmed by processes?

[37:31] Where can business owners get help to work on their business process mapping?

[38:55] How challenging is it to get everyone to follow the processes?

[40:38] Dafne explains what is the first step to start documenting business processes.

[41:50] Listing of the week: Rick Rayl (Coachella Valley) is selling a high-end couture handbag company that was big in the '50s to '70s producing fashionable handbags. The son of the original owners restarted the company in 2015 and made it very popular through influencers on social media. COVID-19 stopped their business. Now they are selling their assets, including a collection of all the original bags. Price: $2 million (negotiable).

[47:01] Michael Dill (ActionCOACH) explains why he bought a franchise.

[48:42] Michael talks about his program: attitude, action, and results.

[50:23] Michael shares his work with Jeff and John.

[53:15] Why do some business owners fail to put concepts into action?

[55:35] Michael talks about his book Knock It Out of the Park Leadership: The ABC's of Entrepreneurial Success.

[1:01:05:] When you show up right, the right people will show up.

[1:03:56] Listing of the week: Michael Morrissey (Portland) is selling a pet supply store that has been in business for about 10 years. Selling Price: $351,000 plus inventory. EBITDA $110,000. It is fully staffed and has a great manager in place.

Mentioned in this Episode:

The Deal Board Podcast

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Email us at thedealboard@tworld.com.

Knock It Out of the Park Leadership: The ABC's of Entrepreneurial Success, by Michael Dill

Email Greta Schultz at greta@schulzbusiness.com.

Pivot Podcast with Greta Schulz