In today’s podcast I have 2 guests, Corey Harris and Julie Traxler. Corey and Julie are running SBPACE which is focused on helping small businesses to launch, operate, and grow. Corey and Julie are providing business coaching and business consulting to the entrepreneurs who are starting a business for the first time and they are also helping them to build a solid foundation for their business. In today's podcast, they are sharing their wisdom regarding building or selling any type of business successfully.
Corey and Julie say that successful businesses are built on some solid foundations. But unfortunately, when some people start their business they start doing things quickly without building a solid foundation for their business, and resultantly their business fails. This foundation is basically about knowing who you are, what you are, why you are doing what you are doing, how you need to interact with your employees, what you should expect from your employees, and understanding your company culture. In short, you need to be mindful of your true passion/purpose and you need to align your true self with your business to run a fulfilling and long-lasting business.
Corey and Julie are also talking about the challenges a business owner faces while selling his business and how he/she should deal with those challenges. They are also emphasizing on having a well-documented detail of your business, including a full job description of every employee, so that when you flip your business your employees could easily fit into the new system.
They are also advising newly owned business owners that they should give their time, at least 6 to 12 months, to their new business before rendering its responsibility to managers and employees. They say that after spending enough time on your business, render its responsibility to workers in your team instead of doing it all on your own. Remember that it is not right to involve yourself in everything of your business rather hire people and let them do the job on your behalf.
Corey and Julie are explaining all that information in detail, so tune in and enjoy this informative podcast till the end.
What You Will Learn from this Episode:
The Episode Timeline:
[00:26]- What Corey Harris and Julie Traxler do?
[02:07]- Foundation for starting any business.
[04:46]- Selling higher price items versus lower price items.
[05:44]- You get what you pay for.
[10:34]- Case study: How Corey and Julie helped a couple in selling their business?
[16:30]- All you need to know about “Selling a Business”.
[24:12]- Your ‘decision’ is everything.
[27:28]- "Product-Based Business” versus “Service-Based Business".
[29:58]- “Starting a New Business” versus “Owning an Existing Business”.
[31:56]- Value of hiring other people to get your work done.
[35:11]- Biggest challenge a business owner faces while selling his business.
[38:06]- How much time should a business owner spend on his newly owned business?
[39:09]- Importance of having systems & processes in place.
[45:18]- Contact details of Corey Harris and Julie Traxler.
[45:53]- Book and course of Corey Harris and Julie Traxler.
Julie and Corey Website & Social Media Handles:
Clubhouse: @Julie Traxler
Book: Seriously? Now What?! : A Small Business Guide to Disaster Preparedness
Corey Berrier’s Website & Social Media Handles:
Facebook: @Corey Berrier
Linkedin: Corey Berrier- Successful Life Podcast
YouTube: Successful Life Podcast
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