It’s almost become an urban legend and many of you still believe that “You have to spend money to make money.” You hear something like this so many times that you think it must be true. In this week’s show, Dirty Secrets of Small Business, Jack Mencini and Adam Sonnhalter debunk this myth and further explain that you can even acquire another business with no money down.
Jack and Adam give great insights on effectively running a small business and discuss that you can’t put your business on cruise control. They also give examples from their clients they coach through Maximum Value Partners. A challenging topic for many of their clients is how to explain to their employees where all the money goes that is taken in by the business. (Sometimes, it isn’t even clear to the owner.)
This week’s success story is about a small business that is building a bigger business through acquisitions with none of their own cash and how they were funded from a combination of the bank, the sellers, and vendors.
Whether you’re starting a small business or already have one, tune into the show to get some great insights that will undoubtedly help you no matter what stage you are in with your business.