Value & Ownership Episodes

An eventual exit may be years away, but the decisions that determine what a business is worth happen much earlier. This episode explores why thinking about the end can help owners build stronger, more transferable, and ultimately more valuable businesses today.

Private companies don't need the bureaucracy of public ones, but some public-company disciplines can make a business considerably stronger. This episode examines how better reporting, governance, accountability, and financial discipline can help owners build an organization with greater durability and transferable value.

Could understanding the difference between business and personal credit be the game-changer your business needs? In this episode of Things Entrepreneurs Should Know, I unravel the essential steps to building robust business credit. We kick things off by exploring why separating your business and personal finances is crucial, followed by practical advice on registering your business, opening a business bank account, and obtaining a DUNS number (get yours here). We’ll also dive into the importanc...

Ever wondered why some entrepreneurs seem to sail effortlessly towards their goals, while others keep treading water? It's all tied to an intriguing blend of motivation, focus, drive, and a sprinkle of something we'll call grace. In this episode, we pull back the curtain on the science of achievement to reveal three key steps that can pave your path to success. We also delve into a surprising research study that reveals a simple trick which could double your chances of transforming your business...

Ever wondered what the secret sauce is that makes some companies more valuable than others in the same industry? This episode of Things Entrepreneurs Should Know could hold the answers you've been looking for. With nuggets of wisdom drawn from transactional data of over 55,000 businesses, we explore ten attributes that can push your company's value beyond that of its peers, even if you're not looking to sell. If you're interested in measuring your company against your peers, a Value Builder Sc...

What's the secret to having autonomous employees and running an efficient business? The answer lies in properly documented Standard Operating Procedures (SOPs). Welcome back to another episode of Things Entrepreneurs Should Know, where we're breaking down the art of SOPs. From customer service to logo usage, every nook and cranny of your operations should be covered. But remember, SOPs shouldn’t be generic templates that dissolve your brand's uniqueness. They should be a mirror of your brand ide...

You probably already know that a customer or employee dependency can undermine the value of your business, but have you ever stopped to think how one of your suppliers could also lead to a valuation drop if you ever want to sell your business? In our study of over 55,000 business and thousands of actual transactions, we know that acquirers want to invest in businesses that inoculate themselves against danger. And, being dependent on a supplier can be a risk. So in this week's episode, Chip...

While taking time off from work is often much-needed to get away from a hectic work life, research also shows that it is important for your health. Whether you have three days, one week or two weeks of glorious vacation time, doctors say that if you don’t take advantage of this break from work, your stress and mental health will suffer. But for today's entrepreneur, it can be tricky. Between when and how you should take time away to your employees knowing your company’s philosophy on taking v...

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 knows who's tried to fly United when O’Hare Airport has been hit by a snowstorm, a hub-and-spoke model is only as strong as the hub. The moment the hub is overwhelmed, the entire system fails. Acquirers generally avoid...

Think for a moment about what does the word valuable mean for you and your business? Maybe it’s a business you can pass along to your kids or other family members? Maybe it’s one that you can use as a platform to acquire other businesses in different markets or geographies, or as a means to vertically integrate. Often when we talk about a valuable business we’re talking about one that’s a million dollar business. In this week's episode, Chip talks about what’s so special about owning...

You've likely heard the adage that it is far easier to cross-sell an existing customer a new product than it is to find a new customer. And if your goal is to grow at all costs, then cross-selling makes sense. However, all of that sales growth may not do much for the value of your company. In this episode, we explain why cross-selling your existing customers too much stuff could make your business far less valuable to a potential acquirer. And be sure to check out our website at www.TESKPod.co...

In 2011, Groupon rejected a $6 billion offer from Google. So, what did one of the world's largest companies do? Well, in this week's episode we talk about the actions Google took, and how you can learn from Groupon's mistake by thinking twice before dismissing offers to buy your company. And be sure to check us out at www.TESKPod.com for bonus content and other tips to help you grow your business while enjoying the lifestyle you’re entitled to. Disclaimer: This podcast and related mater...

Trying to time the sale of your business for the perfect market conditions seems like a savvy strategy. But, it may not be all those unicorns and lollipops you were promised. In this week's episode, we talk about what other factors you should consider when you're thinking about the timing of selling your company. And be sure to check us out at www.TESKPod.com for bonus content and other tips to help you grow your business while enjoying the lifestyle you’re entitled to. Disclaimer: T...

There are so many stories of founders who were rejected by investors 10, 20 or even 30 times! Each meeting where an investor rejects your idea is a gut punch, but it also teaches us something about what investors are looking for and which ones need to be targeted. Every investor wants to bet on a winning horse and over the past few months, I’ve been helping put together pitch decks for a several startups and reviewing other ones, as well as watching 30 episodes of Shark Tank and seeing about 120...

It’s one of the fundamental questions all owners must wrestle with. Owning a relatively small slice of a big pie has worked out well for both Elon Musk and Jeff Bezos, but they may be the exception. Here are four good reasons why your best bet is to own a big chunk of a small pie. So, check it out. It’s a 10 minute investment of your time that can pay huge dividends later. And be sure to check us out at www.TESKPod.com for bonus content and other tips to help you grow your business while enjoyi...

In some circles private equity has gotten a really bad reputation, but the reality of the value of private equity to the economy is much more positive. If you're thinking about talking with a private equity partner in the future, this episode is for you. I'll dispel the myths about private equity with facts and give you the top three things every founder should know about private equity. So, check it out. It's a 10-12 minute investment of your time that can pay huge dividends later. And, be s...