The Business Over Breakfast Podcast
Business
Have you ever asked yourself if your business could survive without you? Often, especially with small businesses, there is a major risk if anything ever happens to the owner, as they usually are the ones who wield the greatest influence, do more work than anyone else, drive the direction and generate the most revenue. To mitigate risk you should therefore seek to make yourself redundant so your business isn’t solely relying on your presence day in and day out. In this episode of Business over Breakfast, Bree James and Andrew Griffiths will tell you how you can properly safeguard your business and team. By taking the steps to remove dependence on you as the business owner, you will end up building a stronger business with greater chance for increased revenue and success.
Bree also chats with financial advisor, author of Finance Action Hero and speaker Peita Diamantidis. She talks about the impact of unexpected exits from a business, whether that be the owner or key team members, and what you should do to prepare for those situations. Additionally, Peita introduces the value of key man insurance and how that can support businesses cope with a loss of major players. If you want to know what steps can make the difference between your business surviving a disaster to it being sold for almost nothing, then this episode is for you!
We also discuss things like:
Understanding the concept of if your business would survive without you Top tips to make sure your business is safeguarded What plans business owners should have in place for worst case scenarios The idea of “me proofing” your business How outsourcing can be a win-win for owners and employees The 5-step rule of thumb for designing tasks Why you need to have a documented business plan The case for an excellent insurance plan if you are your business brand How you can increase your business value by making it less dependent on you A few brilliant business ideas from around the world!
Links
Finance Action Hero Book
Peita Diamantidis LinkedIn
Business over Breakfast Book
Smallville
CCIQ
Bree James LinkedIn
Andrew Griffiths Website
Amplify Website
Episode 45 - The Battle with Procrastination
Episode 44 - It's Time to Talk About Culture, What Is It and Why Is It So Important?
Episode 43 - Strategies to Providing Memorable Customer Experiences
Episode 42 - Negotiation – How and Why Business Owners Need to Get Better at it
Episode 41 - Working With Big Companies to Grow Your Small Business
Episode 40 - Overcoming the Obstacles That Block Good Decision-Making for Your Business
Episode 39 - Encouraging Kidpreneurs - The Next Generation of Business Owners
Episode 38 - Move Your Business Away from Mediocrity
Episode 37 - How to Better Manage People in Business
Episode 36 - What to Do When Your Business Hits a Brick Wall
Episode 35 - 20 Top Tips to Market Your Business
Episode 34 - The Importance of Passion in Small Business
Episode 32 - Ditch Transactional for Emotional Customer Connection
Episode 31 - You Are Your Business Barometer
Episode 30 - Mind Your Focus! How to Refresh Your Attention and Keep Your Concentration
Episode 29 - Strategies to Make Business Travel a Breeze
Episode 28 - Is Your Business Struggling to Keep up and Stay Relevant?
Episode 27 - Preparing Yourself to Survive the War Zone of Tough Financial Times
Episode 26 - Banishing Business Owner Burnout
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