Author Archives: VBB

“It’s My Store. I’m Never Leaving.” What One Employee Taught Me About Building a Culture of Ownership

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entrepreneurship - business culture

If you follow me, you know I have devoted my life to entrepreneurship. When a business owner needs help, I always try to be there.

This week, I had the pleasure of meeting John of John’s Crazy Socks. John is smart, focused, and building something special. After hearing about his new brand, Wahoo Market, I believe he has another winner in the making.

John is a no-excuses entrepreneur.

He has Down syndrome, but as he made very clear Thursday morning, Down syndrome is not going to stop him from pursuing his dreams.

He shows up.

And every entrepreneur knows that sometimes showing up is half the battle.

Entrepreneurship Is Never Easy

Being an entrepreneur means having a hundred things competing for your attention.

Branding. Logo design. Sales. Customers. Employees. Marketing. Operations.

The list never ends.

But there is one thing John has clearly gotten right:

Culture.

During my visit, I spoke with an employee named Cat. She told me:

“I’m never leaving. It’s my store.”

John immediately jumped in:

“It’s my store!”

Cat answered right back:

“It’s my store!”

I thought about that conversation all weekend.

Because those three words — “It’s my store” — say a lot about a company.

They represent pride. They represent loyalty. They represent belonging. And most importantly, they represent ownership.

Do Your Employees Feel That Way?

Ask yourself a question:

Do the people who work for you feel like they are simply employees, or do they feel like they are part of what you are building?

Do they believe in the company? Do they understand the mission? Do they take pride in its success?

Imagine what your business could become if every person on your team felt the way Cat does.

Imagine hearing your employees say:

“This is my company.”

“I helped build this.”

“I’m proud to be here.”

That kind of culture cannot be purchased.

It has to be built.

What John Reminded Me About Leadership

John, I want to personally thank you for the lesson.

After a lifetime of entrepreneurship, I am still learning. And you reminded me that I can do an even better job creating that feeling of ownership inside my own businesses.

Here are four lessons I took away from the experience:

  1. Let Your Employees Know You
    Give your team an opportunity to understand the person behind the business. Let them know why you started it, what it means to you, and what you are trying to accomplish.
  2. Be Transparent
    Don’t only share the victories. Let your employees understand the challenges, the goals, and the journey. When people understand where the company is going, they can better understand the role they play in getting it there.
  3. Bring Enthusiasm Every Day
    Culture starts at the top. If you believe in the business, your employees can feel it. Your excitement, commitment, and energy become contagious.
  4. Build Something People Are Proud to Call Their Own
    The goal should not simply be to create employees. The goal should be to create believers — people who care about the company, people who want it to succeed, people who proudly say “It’s my store.”

John, thank you for being you.

Thank you for reminding me that some of the greatest lessons in entrepreneurship don’t come from spreadsheets, business plans, or boardrooms.

Sometimes they come from listening to the people standing beside you.

And when your employees start saying “It’s my store,” you may have built something far more valuable than just a successful business — you may have built a culture people never want to leave.

 

Memorial Day

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Today we remember and honor the brave men and women who have fought for our country. Vested Business Brokers today, and every day will give thanks to the veterans who gave us the chance to live the AMERICAN DREAM.

Why QuickBooks is Important for a Business Owner to Use

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By Kevin Hansen, Vested Business Brokers
QuickBooks for Owners

As a business owner who has been in operations for many years, you know that the days of calculators, and paper payroll management are gone. Everything you need as a business owner is in one form of software or another. Over the years it may have been overwhelming to make the cyber switch, but with some practice, it has probably proved to be a rather useful one. One of the most popular business software programs that exist is undoubtedly QuickBooks. This is a program that is not just for accountants anymore! QuickBooks can be a vital tool for the business owner as well. Read on for some examples of why QuickBooks is important for a business owner.

Controlling Your Capital

One of the major struggles an owner has as their business grows is delegating the control of cash flow to another employee. It is perfectly natural to want to know exactly where your money is going, and how it is getting there. With QuickBooks, you are able to keep tabs on just that! It is important, however, that you manage your daily transactions in QuickBooks yourself, so everything adds up. But once you become an expert with this program, you will be able to see how the money comes and how it goes.

Employee Management

When it comes to time management, QuickBooks can be a time or money saver. If you have someone working an extra job, or overtime, for example, it is easy for you to enter that information yourself when your Accounts Payable department might not be at the ready. In QuickBooks, you are able to enter one time payments, or you may choose to use a weekly timesheet for recurring jobs or long term freelancers. QuickBooks is super helpful when it comes to tracking the time and productivity for your employees, especially when you are using a do it yourself approach.

Organization

As a successful business owner, you already know that proper organization skills are a must have attribute. It is important that all of your information be stored in a streamlined manner. QuickBooks is a strong tool for organizational skills. From online banking, to printing checks, and keeping aware of transactions, QuickBooks leaves no stone left unturned. This is especially helpful when you encounter transactions with which you are not familiar. If you are running things yourself, or have an accounting department, you are able to keep tabs on all transactions. The “ask my accountant code” in your QuickBooks chart of accounts is quite helpful for issues like this. When you need to enter a transaction, or reconcile it, QuickBooks helps you keep your money, and your time, nicely organized.

QuickBooks has proved to be a vital program for business owners for years. If you are still pulling out your hair by organizing things on paper or basic computer programs, you should absolutely consider switching to QuickBooks to save yourself stress, time, and money!

Marketing Ideas for Your Business

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By Kevin Hansen

Marketing Your Business

Owning a successful business takes many things: time, fortitude, and organization. But one of the most important aspects of growing your business is “the big M”. That’s right, marketing! Whether you own a small, midsize, or large company, your marketing game has to be strong and wide reaching. There are many ways to keep people in the know about your business, and want to utilize your services. Here are a few ideas that you may want to consider if you want to increase your marketing skills.

Internet Promotion

This is a very important marketing tactic that exists today. Nearly everyone is glued to social media, so it is wise to make sure your business has a strong social media presence. Creating a group on popular social media platforms, and inviting the world to view it is a fantastic way to get the word out about your business. And best of all, it’s usually free so there aren’t budget concerns for your accountant! Promoting your business via social media is also a smart way to distribute promotions. For example, if you own a small restaurant, social media pages can allow you to post free promo codes for coupons or bogos etc. Getting the word out organically via social media is also a way to enable trust in future clientele.

Press Releases

If your business is doing something that you want the press to hear about, composing press releases is a great way to market. Press releases are a strong medial tool that will help generate publicity at a low cost, or even no cost. Many websites provide small businesses with free press releases, so do your research and start spreading the news!

Become Active in Your Community

A business can become successful in many ways, and that doesn’t just mean having a high profit margin. By mixing your business into the community, you will gain trust of local clientele, and prove that you work with selflessness and integrity. By donating to local charities, sponsoring your town’s little league team,or participating in community fairs and activities, you will not only promote your business, but promote the pride you take in running it.

Collaboration

A successful business often requires a motivated team to help move your marketing in the right direction. By collaborating with a group of other business that are not in direct competition can be a wise marketing tool. This also further promotes your sense of community. Don’t be afraid to do some networking with other local successful businesses. Another way to collaborate is to assemble a group within your company that is just as passionate about your business as you are. Teamwork goes a long way in the business world, so get some friends and colleagues on board to spread the word of mouth that your business is worth getting to know.

Running a business takes a lot of hard work, but in the long run, can be one of the most gratifying things you could ever do. By proper marketing, and a sincere desire to succeed, you can go a long way! If you would like any more information about how to effectively grow your business, keep visiting our blog for more suggestions!