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Ep. 24 - Strategies for Entrepreneurial Success in the Modern Market
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On this episode of Big Talk About Small Business. Eric Howerton and Mark Zweig dissect the allure of a simple business model, dismantle the misconceptions around marketing budgets, and expose the hidden dangers of owner disengagement. Prepare to have your perspective on profitability, risk reduction, and enterprise value transformed.
This episode is a masterclass in identifying and overcoming the less obvious hurdles that can trip up a business. We delve into the perils of passionless ownership and its cascading effect on operations, especially sales and marketing. The conversation doesn't shy away from the tough topics like the ramifications of substandard accounting practices. We interlace our discussion with candid personal stories, illustrating real-world applications of these lessons, and emphasizing the undeniable power of active marketing and customer engagement to bolster your business.
To cap off our exploration, we discuss the innovation that can stem from acquiring existing small businesses, especially in the current climate of retiring baby boomer owners. We examine the transformative power of understanding your customer's experience through personal anecdotes, touching upon the importance of adaptability, as vividly demonstrated during the COVID-19 pandemic. Join us for an episode packed with wisdom for entrepreneurs and business owners who want to level up their approach for long-lasting success.
Chapters
1. Ep. 24 - Strategies for Entrepreneurial Success in the Modern Market (00:00:00)
2. Keys to Success and Failure in Business (00:00:04)
3. Issues With Disengagement, Marketing, and Accounting (00:08:30)
4. Overcoming Business Challenges and Resistance (00:13:29)
5. Marketing Budgets and the Value of Branding (00:22:55)
6. Importance of Marketing for Small Businesses (00:33:19)
7. Buying Companies for Entrepreneurship and Innovation (00:40:48)
8. Importance of Customer Engagement in Business (00:48:15)
52 episodes
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