79 episodes

The Dirty Secrets of Small Business Podcast is here to give you the tools, knowledge and power to achieve success whether you're starting a new small business or already have one. Each episode we will discuss: Common Myths of Small Business Ownership, Dirty Secret of the Week, How Come? (What's on Jack's Mind), Small Business Success Stories (MVP Clients) - within 7 Keys, Current Events/Regulations Impacting Small Business and Un-politically Correct Thought.

Dirty Secrets of Small Business Adam Sonnhalter

    • Business
    • 4.6 • 13 Ratings

The Dirty Secrets of Small Business Podcast is here to give you the tools, knowledge and power to achieve success whether you're starting a new small business or already have one. Each episode we will discuss: Common Myths of Small Business Ownership, Dirty Secret of the Week, How Come? (What's on Jack's Mind), Small Business Success Stories (MVP Clients) - within 7 Keys, Current Events/Regulations Impacting Small Business and Un-politically Correct Thought.

    How Do I Know It’s Time To Sell?

    How Do I Know It’s Time To Sell?

    In This Episode

    So is now the time?  Is this the offer you can’t refuse?  Has every day become a grind?  Is running your business no longer fun?  Depending on how you answer these and several other questions will determine whether it’s time to sell or not.



    Just like that popular 1960s song by the Byrds called Turn, Turn, Turn, there is a season and a time for everything.  One of the reasons we bring this topic up so often with our business coaching clients, as well as on the podcast, is that we find way too many owners spending too little or not time thinking about this question of when is the right time to sell.  Maybe you’ll be the lucky one where everything just simply lines up and it’s obvious that it’s time to sell.  Most of us won’t be that lucky so it’s best to be thinking about it and actively finding the right time to sell.



    As you might imagine, your answers to these questions, or even the questions that are most important to you might vary if you’re in your 40s vs. say your 70s.  But one question that is key to answer no matter your age is what are you going to do next?  If it’s to “retire” then what exactly will you be doing in retirement?  How much golf, traveling, and hanging out with the kids and grandkids can you handle?  Believe it or not, living a life of leisure can be a tough thing!

    People, Companies and Resources We Mentioned in the Show



    * Turn, Turn, Turn by the Byrds (https://en.wikipedia.org/wiki/Turn!_Turn!_Turn!)



    Join Us Next Time

    Join us next week when we will help you figure out the answer to the question, How Do I Get Where I’m Trying To Go.  It starts with knowing where you want to go.



     

    • 23 min
    How Do I Know What To Focus On Next?

    How Do I Know What To Focus On Next?

    In This Episode

    What happens when you decide it’s time to retire and step away from your business?  We find most people, including business owners, don’t have a good answer for this question.  Too many will throw out platitudes along the lines that they’ll spend more time with family and friends, traveling, vacationing, playing golf or tennis.  The list goes on, but in reality they’ve never really given this question much thought.



    So what we find is that most folks will jump into something else.  During the show we brought up examples of well known folks like Jeff Bezos who recently “retired” from Amazon to jump full time into his space company as well as some other non-profit pursuits.  And he appears to be really enjoying himself.  But it didn’t just happen the day after he retired.  He’d been preparing for that exit for a while.  In fact, space travel is something that has interested him since he was a kid.



    Do you have some interests like that which you haven’t pursued or really thought about since your childhood?  Perhaps it’s something you’ve seen more as a hobby over the years or a distraction.  Could this hobby be something you focus more time on now that you’re free from the shackles of having to earn a paycheck every day?  Maybe there is some volunteer work you’ve been pushing off because you “didn’t have the time” to do it while you were working.



    The point is, you likely don’t know the answers today.  One of the things we encourage folks who are looking to buy a company to do is to “turn over rocks.”  In the case of buying a company that means looking at a lot of different types of companies to find something that is a fit for you.  When it comes to what do you do next after leaving your company, that could involve lots of other rocks.  A good place to start is with folks who Know Like and Trust you.  Chances are they are wrestling with a lot of the same questions you are and by simply talking through it with each other you are likely to make some good progress on figuring out what to focus on next.



     

    People, Companies and Resources We Mentioned in the Show



    * Jeff Bezos goes to Space (https://www.cnn.com/2021/07/20/tech/jeff-bezos-blue-origin-launch-scn/index.html)

    * Jimmy Buffett Retirement Community (https://www.latitudemargaritaville.com)



    Join Us Next Time

    Join us next week when we will help you figure out the answer to the question, How Do I Know It’s Time To Sell My Business.  We find this is one of those questions that most business owners put off until it’s too late.

    • 42 min
    How Do I Tell My Story?

    How Do I Tell My Story?

    In This Episode

    At the end of the day, we all have a mess in our businesses and our lives.  The question becomes who do we share what parts of that mess with when it comes to our business.  As the owner of a small business it’s likely you will go months or years without having to Present yourself or share your story.



    So how do you do it?  How do you decide what to put out there?  The short answer is it depends.  It depends who you are talking with and what you are trying to accomplish.  Are you trying to recruit a key new employee?  Has your banker invited you to lunch?  Did someone leave you a message expressing an interest in perhaps investing in or buying your company?  Maybe it’s just your brother-in-law or spouse asking you how things are going.



    Depending how you answer those questions and what you share with those folks can lead to various different outcomes including things like fear, excitement, or perhaps a successful exit from your company.  During the show today we provide some guidance on what to share and how to share it for these various audiences.

    People, Companies and Resources We Mentioned in the Show



    * Matthew Kelly, Life is Messy (https://www.dynamiccatholic.com/life-is-messy/LMSY.html)

    * I’m OK, You’re OK (https://en.wikipedia.org/wiki/I%27m_OK_–_You%27re_OK)

    * 7 Keys to Success (https://maximumvp.com/7-keys-to-success/)

    * Joe Tye’s BMW Club (https://valuescoach.com/joe-tye/)



    Join Us Next Time

    Join us next week when we will talk about How Do I Know What To Focus On Next.  We will show you how the Profit Plan is a great tool for answering this ongoing question!

    • 31 min
    How Do I Rebuild or Reset My Organization?

    How Do I Rebuild or Reset My Organization?

    In This Episode

    During the show today we focused on a couple of examples of organizations that have gone through successful rebuilds.  One you might be familiar with, the Cleveland Browns.  The others are likely more like your business in that they are smaller and lesser known.  We used our 7 Keys to Success framework to help explain how these changes were accomplished through the Organizational Plan for the business as well as balancing short-term results with long-term success.

    People, Companies and Resources We Mentioned in the Show



    * Cleveland Browns (https://www.clevelandbrowns.com)

    * Good To Great by Jim Collins (https://en.wikipedia.org/wiki/Good_to_Great)

    * Hard Knocks (https://www.hbo.com/hard-knocks)

    * 3 Circles (https://maximumvp.com/the-3-circles/)



    Join Us Next Time

    Join us next week when we will talk about How To Tell Your Story.  At the end of the day, we all have a mess in our businesses and our lives.  The question becomes who do we share what parts of that mess with when it comes to our business.



     

    • 34 min
    How To Tap Into Your Local Library For Market Research – with Andrew Mangels

    How To Tap Into Your Local Library For Market Research – with Andrew Mangels

    In This Episode

    So what kind of memories do you have of the library?  If you’re like most people, it goes back to your early childhood days and story time.  Perhaps you rediscovered the library when you had your own kids.  Many of us spent time in the library during high school or college.  But chances are that once you got into the business world you stopped visiting your local library altogether.



    One of the reasons we invited today’s guest, Andrew Mangels, to join us on the podcast was so that he could help educate all of us how the library can help us in business.  This includes everything from job seekers pulling together their resume to business owners looking to create a 3D printed prototype for their product and everything in between.



    During the show today, Andrew shared several examples of resources that business owners can tap into starting with their local community library and how that can tie into a network of public libraries across the region or state.  One of the most popular business resources is Reference Solutions (formerly known as Reference USA) where people perform lots of market research on everything from the competition to potential new customers.  Andrew even shared a recent example of how his library is using their own tools to create a list of new residents to send welcome post cards to the new folks in town and invite them to their library.



    Perhaps the best and most underutilized resource is the Business Librarian.  If your local library doesn’t have a Business Librarian, no worries as all Librarians are skilled in doing research.  They are problem solvers.  As Andrew put it, everything starts with the “reference interview” where the Librarian is trying to help you figure out “What’s the question” you are asking.  As we all know from our own searches online where we see millions of results for our searches, it can be intimidating to wade through all that info to find what you’re truly looking for.  If we ask better questions we will usually get better results.



    We covered a lot in the 40-minute interview and we have included links to several resources in the notes below.  We cannot encourage you enough to check out your local library and see what they can do to help you with the growth of your business.  It is a wonderful part of the community that can also do wonders for your business!

    People, Companies and Resources We Mentioned in the Show



    * Westlake Porter Public Library (https://www.westlakelibrary.org/?gclid=EAIaIQobChMIodPTkrT58AIVGx6tBh0-pgEnEAAYASAAEgJAzPD_BwE)

    * Maker Stations (https://www.westlakelibrary.org/maker-stations-4152)

    * Business and Investor Resources (https://www.westlakelibrary.org/business-investment-4218)

    * Facebook Page (https://www.facebook.com/WestlakePorterPublicLibrary/)

    * Matthew Lesko (https://en.wikipedia.org/wiki/Matthew_Lesko)

    * Rotary (https://www.rotary.org/en)

    * Westlake/Bay Village Rotary Club (https://westlakerotary.org)

    * Reference Solutions (https://www.data-axle.com/what-we-do/reference-solutions/)



    Join Us Next Time

    Join us next week when we will chat about how to rebuild or reset your Organization which is important to do when coming out of a pandemic!

    • 43 min
    How Do I Overcome Imposter Syndrome?

    How Do I Overcome Imposter Syndrome?

    In This Episode

    Do you ever feel like a fraud?  Or do you worry that “they’re” going to figure out that I don’t belong or that I didn’t earn this?  There are hundreds of these types of questions you might be wrestling with.  For some business owners we find these thoughts will often dominate their day-to-day interactions.  Other business owners have done a good enough job over the years of either ignoring most of these voices or they have found ways to quiet the voices so they aren’t distracting or even paralyzing.



    During the show today we shared several personal examples where we’ve experienced this imposter syndrome and how we handled it.  We also shared some suggestions for how you as an owner can deal with these voices of doubt either in your own head or in those of some of your key people.

    People, Companies and Resources We Mentioned in the Show



    * Imposter Syndrome (https://en.wikipedia.org/wiki/Impostor_syndrome)

    * Ohio University (https://www.ohio.edu)

    * Sohio Corporation (https://en.wikipedia.org/wiki/Standard_Oil_of_Ohio)

    * 3 Circles (https://maximumvp.com/the-3-circles/)

    * 7 Keys (https://maximumvp.com/7-keys-to-success/)

    * Who Wants to Be A Millionaire (https://abc.com/shows/who-wants-to-be-a-millionaire)



    Join Us Next Time

    Join us next week when we will welcome Andrew Mangels, the Director of the Porter Public Library in Westlake to chat about one of the most underutilized assets for your business…our local libraries!



     

    • 43 min

Customer Reviews

4.6 out of 5
13 Ratings

13 Ratings

Dougiesjr ,

Now I’m hooked!

So far today I’ve heard a podcast and one interview - I love it! They’re extremely informative but not at all dry, these two are excellent together.

beyondcommon ,

Adam and Jack are Great!

Such true professionals and so knowledgeable about business.

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