Remote Small Business Management – Interview with Joseph Stewart – Small Business Show 214

Being the owner of a single small business is challenging in itself. Owning multiple, successful businesses that you remotely manage and eventually selling them is something to be proud of. Today we’re joined by a longtime friend and business colleague, Joseph Stewart, former owner the Mac Outlet in Colorado and Felt Pool and Billiards.

Listen in to this episode of the Small Business Show to find out how Joseph managed both companies from another state and how being a remote business owner forced him to develop better systems and processes for success. You’ll learn about the importance of the work you do each day by asking yourself: Is this $10 per hour work or $1000 per hour work?

Your hosts Shannon Jean and Dave Hamilton learn how Joseph used the cash flow from his businesses to purchase the building they were operating in and how being a landlord eventually led him to start his second company at the same location.

We then jump into a discussion about preparing your business to sell and whether you should be meeting with a business broker or handling things on your own. Joseph went the DIY route and all that prep work to develop stand-alone systems and processes for the businesses to succeed paid off.

Join us for another Small Business Show for all this and much more. Then head over to the Small Business Support Group to join the discussion!

Chapters/Timestamps:

  • 00:00:00 Small Business Show #214 for Wednesday, March 13, 2019
  • 00:01:06 Joseph Stewart Former BadAss and Owner at Felt and Mac Outlet
  • 00:02:27 Tenant Turns into a Business Acquisition
  • 00:05:32 Real estate as an investment
  • 00:08:24 Read the Four-Hour Workweek move to San Diego
  • 00:11:40 Finding the Sweet Spot of Micro-Managing
  • 00:13:12 Find a manager that can see your vision
  • 00:14:25 Make sure the customer’s have exceptional experiences
  • 00:15:55 SPONSOR: TextExpander.com/podcast gets you 20% off your first year
  • 00:17:37 SPONSOR: Abby Connect. Get $95 off your first bill at AbbyConnect.com/sbs 00:19:29 Structuring your trust scenarios
  • 00:20:20 Never forget about FileMaker!
  • 00:21:01 Know your Fundamentals
  • 00:22:15 Recognizing change
  • 00:25:31 Distance is an opportunity
  • 00:28:00 DIY Business Selling
  • 00:30:15 Now what?
  • 00:32:15 Keep your eye on the ball during the sales process
  • 00:34:05 Mistake: Don’t be a cheapskate with your employees
  • 00:37:48 Track 15 minute increments, and apply an hourly rate to each
  • 00:39:30 Pretend you’re going to be an absentee owner
  • 00:40:51 SBS 214 Outtro

Interview with Kelan Raph of Optimum Supply Chain – Small Business Show 213

If you’re selling products, logistics is a critical part of the equation and being logistics-smart can mean the difference between making a profit or losing money on a product. Should you be handling your own shipments, using Amazon’s fulfillment services or perhaps a 3rd Party Fulfillment company to get your orders out? We discuss those options and much more on today’s show.

Joining us today to discuss these topics is Kelan Raph, a logistics expert and President of Optimum Supply Chain

Listen in as your hosts Shannon Jean and Dave Hamilton discuss and learn about the challenges of getting your products to your customers in a timely manner while keeping your costs low and errors to a minimum. You’ll learn about the latest Amazon FBA changes that have caught some sellers by surprise and how you can minimize your reliance on FBA by using a 3rd Party Logistics company to handle your product fulfillment.

Join us today to learn about optimizing your product delivery and then join the conversation at the Small Business Support Group!

Chapters/Timestamps:

  • 00:00:00 Small Business Show #213 for Wednesday, March 6, 2019
  • 00:01:04 Kelan Raph, President Optimum Supply Chain
  • 00:02:12 Start at DHL while finishing MBA, then… Create a Business!
  • 00:04:59 What problem are you solving?
  • 00:05:34 Upcoming Changes to the Fulfilled By Amazon Program
  • 00:09:01 Is FBA still a good solution?
  • 00:11:02 FBA’s stumbles … create FBA competitors!
  • 00:14:08 SPONSOR: Molekule. Air purification reinvented. For $75 off your first order visit Molekule.com and at checkout enter code: SBS
  • 00:16:20 SPONSOR: Keeps. To receive your first month of treatment for free, go to Keeps.com/SBS
  • 00:18:40 Distributed Inventory can Save You Money
  • 00:22:02 Grand Canal and Optimum
    • “Freight fees are often what kill you the most”
  • 00:26:11 Are you a broker or an advisor? Which do you want to be?
  • 00:29:12 The Challenge of Awareness
  • 00:31:15 Raising Marketing Money
  • 00:33:17 With VC, Be Aware of Actual Profits
  • 00:34:35 Keeps Your Eyes on Your Customer
  • 00:37:18 Knowing customer expectations
  • 00:40:06 SBS 213 Outtro