Dee Barnes, CEO of Evans Tool and Die, joined host Bill McDermott to discuss how her 75-year-old family-owned business has successfully navigated the manufacturing industry’s challenges and embraced its opportunities. Dee focused on the importance of trade skills within the sector and the resurgence of manufacturing in the United States. They also delved into how…
Hear The Profitability Coach in action and get answers to some of the most common questions asked by business owners!
What’s my business worth? In a recent study, business owners were asked what they estimate the value of their business to be. 10% didn’t have a clue. The other 90% answered in a wide range between $500,000 and $100 million. Further when asked how they arrived at that valuation, 2/3 answered that they had no…
Every business owner has a big dream for their business and wants to make it happen. The problem is many business owners don’t have a clear strategy of how we’re going to transition the ownership and management of the business to another party because we’ve done no planning. We have our heads down working in the business…
When it comes to exiting their business, many owners get confused and frustrated because no planning has taken place and they’re ready to exit now. If they’ve been the through the Great Recession and then Covid, they’re especially ready because they’re tired. I have several clients that are Baby Boomers and are beginning to receive…
A successful business exit can be a complex and daunting process. There are many factors to consider, such as the value of the business, the best way to sell it, and how to ensure a smooth transition. That’s why it’s essential for business owners to consider following these three major steps. One of the best…
Every business owner has a big dream for their business and wants to make it happen. When it comes to hiring the right people, getting them in the right seats, and providing a culture of growth and inclusion, we often don’t know where to start or what to do. It shouldn’t be so hard to…
When someone mentions they are a salesperson, mental images often come to mind of the used car salesperson that asks, “What do I need to do to get you in this car today?” People hate to be sold. But, when people are ready to buy they appreciate the help. There’s a subtle mindset shift (sell…
Every business owner understands that cash/liquidity is critical to running our business. But, knowing how much cash is needed leaves many business owners confused, frustrated, and sometimes losing sleep. It takes a guide to help us know how much cash is needed. Often, we hire an accountant or controller to keep track of cash. Some…
“Gazintas”? What is that? “Gazinta” is what I call a “goes into” and your balance sheet is full of them. Your balance sheet is dynamic, not static, and a “gazinta” indicates a change in your balance sheet and the reason. Cash going down “goes into” receivables going up or purchasing equipment for cash or funding…
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