Six Reasons Not to Diversify

Diversification is a sound financial planning strategy, but does it work for company building? Have you ever wondered how Vitamix get away with charging $700 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half the price? We know we have! It’s because Vitamix does just one...

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You-Proofing Your Business

Making your business less dependent on you has a number of benefits: you can scale your company more quickly if you’re not acting as a bottleneck; you get more time to enjoy life outside of your business; and a business less dependent on its owner is much more valuable to an acquirer. Pulling yourself out of the...

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When Does An Entrepreneur Become A Business Owner?

According to most definitions, an entrepreneur is one who envisions a new and different business, meaning one that is not a copy of an existing business model. Many entrepreneurs have a passion and an idea, or even invent a new product, but are never able to execute to the point of creating a startup. Even fewer are able to...

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The Right Time to Sell

If you’re wondering when is the right time to sell your business, you may want to wait until your company is generating $1 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). What’s so special about the million-dollar mark? The million-dollar mark is a tipping point at which...

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The Hidden Goal of The Smartest Business Owners

What are your business goals for the year? If you’re like most owners, you have a profit goal you want to hit. You may also have a top line revenue number that’s important to you. While those goals are important, there is another objective that may have an even bigger payoff: building a sellable business. But what if...

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9 Warning Signs You’re a Hub-and-Spoke Owner

If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel? As anyone who has tried to fly United when O’Hare has been...

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