Welcome to The Small Business Show!


Each week Dave Hamilton and Shannon Jean discuss topics related to starting, growing and managing your small business. You’ll find real-world advice from ourselves as well as from other business owners. Listen in and learn from our mistakes, share your successes and generally have a good time talking about small businesses.

Listen to the latest episodes of The Small Business Show below and subscribe to keep listening each week.

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Employee, Self-Employed or Entrepreneur – who makes the best partners? Small Business Show 132

Do you know the signs that tell if a person is an Employee, Self-Employed or an employee or entrepreneurEntrepreneur? Join Dave and Shannon for this episode of the Small Business Show to find out!

During today’s episode, we get to spend time dissecting personality types so you can understand who would make a good employee vs. who would make a good business partner. We discuss Do’ers vs delegators and ways to create a Working Agreement to help you find out if you all have what it takes to build a successful partnership.

Communication is key and your hosts speak about methods to keep the dialogue going when their is an inevitable problem with your business partner (Partner Therapy, anyone?). Find out why how much risk and accountability your employees are willing to take starts with YOU, the business owner and just how to get past the Superhero complex that is so common.

We wrap up the show with a discussion about getting-out-of-the-way of your employees so they can do their jobs and grow your business along with the importance of sharing your crazy ideas (business or otherwise) with the right type of people if you expect to get a useful response.

Join us for episode 132 of the Small Business Show and then visit our Small Business Support Group to talk about the show!

Chapters/Timestamps:

  • 00:00:00 Small Business Show #132 August 16, 2017
  • 00:00:55 Love What You Do and You’ll Never Work a Day In Your Life
  • 00:01:31 Passion vs. Motivation vs. Discipline
  • 00:02:58 The Peter principle
  • 00:04:58 The differences between employees and entrepreneurs and self-employed people
  • 00:06:00 Finding a good business partner: someone who is good at what you are not
  • 00:06:23 Do’ers vs. delegators
  • 00:07:15 Create a Working Agreement
  • 00:11:34 Similar financial needs and goals
  • 00:13:00 Beware the double-dippers, even yourself
  • 00:17:17 Partner therapy
  • 00:17:44 Different Mindsets: Employee vs. Business Owner
  • 00:19:38 Mirror vs. Window
    • Risk vs. Accountability
  • 00:22:34 The Superhero Complex as it relates to Solopreneurs vs. Business Owners
  • 00:27:02 From Business Owner to Investor
  • 00:27:58 Give your employees autonomy
  • 00:29:03 You are your own impediment
  • 00:32:31 Break out of your own bubble
  • 00:35:47 SBS 132 End

Being Productive at Conferences, selling on eBay and Motivation vs. Discipline – Small Business Show Episode 131

be productive at conferencesWhat’s the best way to find real value in attending Trade Shows, Conferences and Workshops? Do you sit in the back row and head right back to the hotel after the event? You can probably guess what your Small Business Show co-hosts would say about that. Join us for this episode to discuss maximizing your time at these types of events as Shannon discusses attending eBay Open 2017 in Las Vegas a few weeks ago.

During the eBay discussing, we touch on eBay’s dramatic shift during the last 2-years regarding their attitude towards the Small Business seller community and how your business can benefit from it. We discuss the new eBay Concierge customer service platform, ways to reach eBay’s 171 million buyers and new initiatives like eBay Authenticate, Shop with Images and Direct Shopify Integration to sell your products on eBay. Shannon believes that it’s time for another look at selling on eBay if you’ve been away for a few years.

Dave then jumps in to discuss the critical difference between Motivation and Discipline and how you need both (but maybe discipline more!) to keep yourself successful as you work hard on your systems approach to achieve what you want with your Small Business.

We wrap up the show with a discussion about working smarter with Bob Levitus’s tips from the Small Business episode 109 interview and just what the heck is the Pomodoro Technique? Listen in the find out all this and more!

Want to join in the discussion? Visit the Small Business Support Group on Facebook and find answers and help others in the SBS community.

Chapters/Timestamps:

Brittany Alwerud from Handlr Business Management – Small Business Show Episode 130

Could you make the leap from dog walker / poop-picker-upper to creating a software platform for service related Small Businesses? Well, Britt Alwerud did just that, creating the Handlr Business Management suite of tools to help manage your employees or contractors, communicate with customers, generate reports and perhaps most importantly, get paid on time!

Join Dave and Shannon for episode 130 of the Small Business Show and our awesome interview with Britt from Handlr.

During our talk, you’ll hear about how Britt had to hit rock bottom and be told by a client that she was “…not a businesswoman, you’re a dog walker” before she realized she needed to create a software platform to help manage her company so she could become the businesswoman she knew she could be. We jump into a discussion about marketing (cold calling!) and we hear about mistakes (lessons learned) made along the way during the creation of Handlr.

We explore what it takes to find and hire a reputable software developer and what methods Britt and her team are using to expand Handlr to create a complete ecosystem of businesses and customers that can benefit from using the platform.

Wrapping up the interview, we discuss using Asana and SCRUM to keep your tasks moving forward and on time and the importance of advisors and mentors to help bring a product to market.

Join us for all this and more before jumping over to the Small Business Facebook Support Group to comment and ask your own questions!

Chapters/Timestamps:

  • 00:00:00 Small Business Show #130 August 2, 2017
  • 00:00:47 Next week: Shannon’s eBay conference experience
  • 00:01:02 Brittany Alwerud from Handlr Business Management
  • 00:01:58 From dog poop scooper to business owner
    • “You’re not a businesswoman, you’re a dog walker”
  • 00:05:06 Britt hit a wall… and needed a system
  • 00:07:27 Uber for running your business on demand
  • 00:09:02 Freemium… for businesses!
  • 00:09:43 Find an ecosystem and then build it
  • 00:11:47 Cold calling and SEO
  • 00:13:27 $10MM/year from Dog Walking!
  • 00:13:59 Make money by judging people’s appearances
  • 00:14:41 Launch quickly, but not too quickly
  • 00:16:26 Finding a reputable and reliable developer
  • 00:18:37 Expanding the platform
  • 00:21:38 Cross-promotion as a growth path
  • 00:22:44 Letting your customers be your advisors
  • 00:26:49 Steer clear of technology and invent a poop-eliminating spray!
  • 00:28:26 Finding Handlr
  • 00:28:58 SBS Outtro

The Business of Podcasting – Small Business Show Episode 129

Are you making a living with your Podcast? We need to talk. Join us today on the Small Business Show and learn about the business of podcasting. Specifically, what’s happening in the world of Podcast advertising, what are sponsors looking for and how is success being measured.

Dave shares his expertise about how a typical Podcast audience is made up of Intentional Listeners that have made the effort to seek out your content, subscribe and in many cases, download it to their device for future listening. These people are valuable and they have put their trust in your hands. How do you educate advertisers (and ad agencies) about that value and protect that trust at the same time? Listen in to hear some tips!

We round out the show by revisiting the 1000 true fan concept and how it might apply to Podcasting and what additional value your Podcast can bring to you, beyond revenue.

Join us today on the Small Business Show for all this and more. Then, visit the Small Business Support Group on Facebook to join the discussion.

Chapters/Timestamps:

  • 00:00:00 Small Business Show #129 July 26, 2017
  • 00:01:00 Being intentional with your time
  • 00:02:35 Deadlines are awesome motivators
  • 00:04:32 Recognizing the value of obsessing over the future
    • “Did I achieve something today that moved things forward?”
  • 00:05:34 Podcast sponsorship is changing
  • 00:06:19 Intentional listeners – no accidental subscribers – leveraging that value to sponsors
  • 00:08:03 The value of podcast sponsorships
    • Cost per thousand subscribers: $15-50 for advertising
  • 00:11:50 Tailoring the sponsor message to your listeners
  • 00:13:44 QA to “test” the effectiveness of the advertisement
  • 00:18:20 …and again!
  • 00:23:14 You can’t quantify trust
  • 00:24:00 You can’t leverage a relationship if you micro-manage it
  • 00:25:36 Beware of the low-hanging fruit.
  • 00:27:29 What’s your value?
  • 00:30:30 1,000 true followers at $10/month is a living
  • 00:34:57 SBS Outtro

Selling Your Small Business – Interview with Abbi Vakil of U-Socket– Small Business Show 128

What is the most important thing to remember when selling your business? Today on the Small Business Show, we continue our discussion about selling your business with advice from Abbi Vakil, inventor of the U-Socket USB wall plug.

Listen in to hear us discuss cash-flow vs. profits and which is most important and what do to when you’re business is not succeeding OR failing. We touch on one of the tips from ReWork about ignoring your competition, since you don’t know what’s going on inside their business or if their profitable. Continuing on the tip from episode 127 of the Small Business Show, finding the right buyer and making it “easy” for them to buy your company is brought up with some tips on how to make this happen.

Finally, we discuss how to keep growing your “Revenue Stack” after you sell your business with some creative ways to handle investing in startup companies.

If you think (dream?) about selling your business now or someday, you’ll want to join us for this episode! After, click over the the Small Business Support Group on Facebook and share your thoughts and comments with Abbi, Shannon and Dave!

Chapters/Timestamps

  • 00:00:00 Small Business Show #128 July 19, 2017
  • 00:01:12 Abbi Vakil from AllMac
  • 00:02:18 Abbi sold U-Socket
  • 00:05:00 The hamster wheel of fame & cash flow, but no profit
  • 00:06:18 Not succeeding or failing… what to do?
  • 00:08:13 When should you give up?
  • 00:10:31 Finding the right buyer
  • 00:13:26 The relief of selling mixed with losing your baby
  • 00:15:18 The Todd Rundgren $1 Royalty
  • 00:16:28 Never sell to your staff and finance that same staff
  • 00:19:11 Valuation of U-Socket
  • 00:22:06 Make it easy for this person to buy your company
  • 00:22:30 What happens to the revenue stack after you sell
  • 00:25:00 Startup Investing in what you know
    • Asset investing
  • 00:28:37 feedback@businessshow.co or our Small Business Support Group
  • 00:29:00 Keep good books … and have pride!
    • Don’t drop your shorts!
  • 00:32:12 SBS Outtro

Thinking of selling your Small Business? Don’t miss this episode of the Small Business Show – SBS 127

What happens when you realize that you’re NOT the best owner for your Small Business? Join us today for episode 127 of the Small Business Show to hear the story from one of your co-hosts that made just such a discovery after 13-years of being at the helm of TechRestore.

Dave and Shannon discuss how finding the “right” buyer is critical to any sale, tips to find that person (or company) and what requirements will you have after the sale is completed. Shannon talks about separating assets to streamline the sale, how to quantify “soft” assets like goodwill and reputation as well as working with your accountant to be sure to limit your tax exposure based on how you allocate assets in your purchase agreement.

We spend time discussing how to be sure the sale keeps moving forward to completion and how history shows (in both your co-hosts cases), how things can go sideways at the last minute. Along the way, you’ll hear about making the sale more of a partnership with the buyer and seller – working in everyone’s best interest towards success can help accelerate your sale and keep everyone working closely together in a positive manner.

Shannon gives his usual “watch out for bankers and lawyers” speech that can kill a sale quickly, even though you’ll need to have both involved to close your deal and we spend some significant time discussing how to actually figure out what your business is worth, before you start the sale process.

Join us today and then visit the Small Business Support Group on Facebook to comment and ask questions about selling YOUR business!

Chapters/Timestamps

  • 00:00:00 Small Business Show #127 July 12, 2017
  • 00:01:13 We need your iTunes reviews <http://businessshow.co/itunes/>
  • 00:01:50 Shannon sold TechRestore!
  • 00:02:54 It only takes one buyer
  • 00:03:41 The slow realization that the best owner … is not you.
  • 00:05:31 How to find a buyer
  • 00:08:09 Sticking around after you sell
  • 00:09:58 What’s the asset for YOUR buyer?
    • Not just physical. Goodwill counts!
  • 00:15:11 How to tax-leverage the sale
  • 00:17:38 Get to know your buyer so they can get to know your business
  • 00:18:39 Make sure you have a plan B for your funding structure
    • Time Kills All Deals!
  • 00:20:36 Dave and Shannon almost sold a company once!
  • 00:21:42 Watch out for bankers
    • …and lawyers!
  • 00:23:23 Make the sale feel like a partnership
  • 00:26:14 The emotional struggle of the sale: The Story of TechRestore
  • 00:28:50 How to value your business
    • The charmed life doesn’t necessarily look good on paper
  • 00:33:33 The post-sale intensity
  • 00:37:13 SBS Outtro

 

How to keep your Small Business from joining the 50% of companies that fail within 5-years. Small Business Show episode 126

Longtime listeners of the Small Business Show know that we embrace optimism with a passion. However, today we’re talking about failure. Specifically, why Small Businesses fail and how to avoid it.

Dave and Shannon jump right into today’s Small Business Show with a discussion of your ROE, or Return on Energy for projects within your business, or new ideas that may not make you a profit, but can make you a better person and help to increase your energy levels throughout your Revenue Stack. Then, it’s on to a detailed discussion of a report published by Small Business Trends that focuses on why businesses fail.

The great news is that there’s never been a better time to start a new business, however, studies show that about half of all Small Businesses will fail within the first 5-years. Half! We think that number is much too high, so we’re digging into this report to help you avoid the pitfalls of the “other” 50% of Small Business owners that won’t make it to their 6th anniversary.

Listen in to episode 126 of the Small Business Show to learn how to adapt, how to change, when it’s time to trust your gut and how to build a culture of change within your company.

Join us, then click over to the Small Business Show Support Group to share your comments!

Chapters/Timestamps

  • 00:00:00 Small Business Show #126 July 5, 2017
  • 00:00:54 Small Business Support Group
  • 00:01:10 “Return on Energy” – ROE
  • 00:03:16 Always chasing $100 bills
  • 00:04:05 Half of all Small Businesses Fail Within 5 Years
  • 00:05:00 Restaurants do not fail more than other businesses
  • 00:05:47 Don’t make assumptions that customers aren’t going to like your product
  • 00:06:30 If you’re not adapting, you’re failing
  • 00:08:03 You’re making a choice not to change, too.
  • 00:08:47 Trusting your gut
  • 00:11:36 Building a culture of change
  • 00:13:30 A Players hire A Players… B Players hire C Players
    • But if an employee can’t adapt, you need to leave them behind
  • 00:17:21 Transparency with your employees
  • 00:19:17 99.7% of all businesses in the US are “small”
  • 00:20:50 Only 19% are outcompeted
    • Rework
    • Make your customer experience unbelievable!
    • Cash is King
  • 00:24:33 P&Ls are living documents
  • 00:25:10 Don’t ignore your customers
  • 00:26:40 Listen to your customers
  • 00:36:53 SBS Outtro

Small Business Interview with co-founders of GrowpoVR and GoVRed – Small Business Show episode 125

govred.comVirtual Reality and Augmented Reality are popular buzzwords we read and hear about a lot these days. Much of it sounds like it “will be” great someday, but what about Small Businesses that are in the VR/AR space and creating businesses TODAY? Joining us for episode 125 of the Small Business Show is Chase Dittmer and TJ Dishaw, co-founders of GrowpoVR Studios and GovRed.

GrowpoVR began as an arcade/studio business, offering up VR experiences for consumers. When Chase and TJ noticed lots of Police officers using the equipment, they quickly realized there was an underserved demographic, so of course, they launched a new business, GoVRed to focus on military and government agency VR use.

During the show, we also got a chance to learn about the Iowa Startup Accelerator and how GoVRed became a part of this 12-month startup program. We discussed how the business incubator provides support for design and engineering as well as legal and marketing areas.

The co-founders discuss how their youth has been a benefit as well as a challenge when developing their business and meeting new customers. One thing is for sure, there’s no lack of enthusiasm from either Chase or TJ. Listen in to this episode of the Small Business Show to learn about their *fast* journey, the problems they have faced and how they are making changes to their “virtual” business plan almost daily as they bring their new business to fruition.

After the show, be sure to join us at the Small Business Support Group on Facebook to share YOUR story!

 

Chapters/Timestamps

  • 00:00:00 Small Business Show #125 June 28, 2017
  • 00:01:19 Chase Dittmer and TJ Dishaw – GrowpoVR Virtual Reality Studio and Govred
    • Starting with the iPhone… of course
  • 00:02:36 Having the right tech means… a partnership was born!
  • 00:04:28 VR Arcade…to the military!
  • 00:05:44 Attracting the Military with Facebook
  • 00:07:08 Beware of being tied to your business plan
  • 00:07:26 Iowa Startup Accelerator
    • Accelerator provides Legal, Marketing, Design, Engineering
    • Clerky
  • 00:09:45 Don’t make assumptions about your customers
  • 00:11:47 Make your mentors be mean… or at least honest
  • 00:13:28 Age as a benefit as well as a negative.
  • 00:15:01 Use your product to sell yourself
  • 00:16:15 Be ready to move!
  • 00:18:00 Support your family, even when they’re crazy
  • 00:19:56 VR for your ice cream store
  • 00:21:07 VR/AR to enhance any business
  • 00:22:27 Use Vive for your Meetings
  • 00:24:58 HoloLens is Fake AR – more of a 360 viewer
  • 00:27:03 Learn about Govred, Chase and TJ
  • 00:28:25 GG Outtro

Interview with Paul Disselkoen of the Paypal Small Merchant Advisory Board – Small Business Show 124

paypal smaller merchant advisory delegationYou know the name, you’ve accepted the payment method. But, did you know that Paypal has a team of people focused solely on Small Business advocacy and public policy? Joining us today on the Small Business Show is Paul Disselkoen, Paypal Public Relations Specialist. Paul is charged with getting the voices of Small Business owners heard by politicians that are setting public policy that impacts Small Businesses throughout the country.

Join your hosts Dave Hamilton and Shannon Jean to learn about what Paypal is doing to insure that it’s not just the big companies that are sending lobbyists to Washington. You’ll get a chance to find out about the Paypal Small Merchant Advisory Delegation and how YOU can join and get your message heard and get some great publicity for your Small Business.

Paul takes us through the role that Paypal plays in helping to set policies that are favorable for Small Business owners and discusses the types of businesses they are looking for to connect with lawmakers locally, as well as in their annual trip to D.C. to connect with legislators on Capitol Hill.

Listen in to learn more and find out how you can join the Small Merchant Advisory Board to protect and promote your Small Business. After the show, click over to the Small Business Support Group to share your thoughts about the show!

Chapters/Timestamps

  • 00:00:00 Small Business Show #124 June 21, 2017
  • 00:00:49 Paul DisselkoenPayPal Government Relations Specialist
  • 00:02:45 Small Business Merchant Advocacy Delegation (SMAD)
  • 00:03:48 Lobbying for Small Business – getting the voice of Small Business owners heard
  • 00:05:26 Introducing SMB owners to their representatives in govt.
  • 00:08:17 How do businesses join SMAD?
    • Finding good stories from passionate SMB owners
  • 00:09:28 What makes a good SMAD member?
  • 00:11:09 Use PayPal to vet overseas suppliers
  • 00:12:38 Using SMAD to overcome challenges
    • Paypal SMB research report
  • 00:17:00 Thought leaders in the Small Business area
  • 00:18:21 PayPal hosts local events for Small Business Owners as well as trips to D.C.
  • 00:19:24 Small Business Pitted Together with Politics
  • 00:21:52 PayPal Public Policy on Twitter
  • 00:24:05 Check the “Join” Link at PayPal.com/publicpolicy
  • 00:24:34 SBS Outtro

Small Business Show Interview with Ryan Stewman, Founder of HardcoreCloser.com – Small Business Show episode 123

Arehardcore closer you a Closer? On the Small Business Show, we often say that all business owners are in the Customer Service business – but, we’re also in the Sales business. Wether you’re selling a product or service, you’ve got to sell to make your business grow. This week on the Small Business Show, you’ll get to hear the story of Ryan Stewman, Founder of HardcoreCloser.com.

Ryan is an incredibly enthusiastic sales trainer and motivator that has overcome numerous obstacles to create a successful business that helps others succeed. Listen in to learn how Ryan started out washing cars and moved up to selling mortgages before the “Police kicked in the door” and everything came to a screeching halt. Keeping motivated and overcoming adversity propelled Ryan and before long he was back on top and running his own company.

As the Founder of Hardcore Closer,  Ryan teaches salespeople and business owners how to succeed using social media, the sales funnel concept and all about grinding-it-out everyday to create the life you deserve. You’ll hear about going from $25 a week to $20-50,000 per month in Facebook ads and what that gets you, along with what Ryan wishes he would have done sooner as a Small Business owner.

Join us today on the Small Business Show to listen to a guy who has dedicated his life to “creating millionaires” and then click over to the Small Business Support Group to comment and connect with other Small Business owners!

Chapters/Timestamps:

  • 00:00:00 Small Business Show #123 June 14, 2017
  • 00:01:17 Ryan Stewman – Hardcore Closer
  • 00:02:11 From Car Wash to Mortgages… just like that!
  • 00:03:42 Hooked!
  • 00:04:13 The Police Kicked in My Door
  • 00:05:23 $770k in 2005 – all came to a screeching halt.
  • 00:06:08 Then the laws changed… and I couldn’t work.
  • 00:07:18 Putting that G.E.D. to Good Use
  • 00:09:34 Practicing for your business while on the clock
  • 00:10:24 Pivot OFTEN
  • 00:11:45 Keep the momentum going
  • 00:12:05 Daymond John – The Power of Broke
  • 00:13:18 Put your mask on first … but then make sure you help others!
  • 00:14:25 Dedicating to creating millionaires
  • 00:16:43 “I advertise heavily”
    • “Advertising is the thing that propelled me”
    • Facebook Ads
    • Retargeting
  • 00:20:14 You have to learn your market
  • 00:21:18 Writing the first book
  • 00:22:54 I write every day
    • Emails, Social Media, Books, Blog Posts
  • 00:24:00 I am a prolific mistake maker
  • 00:26:00 Embracing your mistakes -empowering yourself and others with your story
  • 00:26:56 Don’t be a lone wolf for too long: get help faster!
  • 00:28:53 SBS Outtro