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How Can Small Business Owners Increase Their Company's Value?
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Are you a small business owner feeling stuck and unsure of how to increase the value of your business? Do you find yourself overwhelmed by the day-to-day tasks and unable to step back from operations? Tune in to this episode of the Ask Ralph Podcast with Ralph Estep Jr. and guest David Chudyk, as they discuss the challenges many entrepreneurs face when it comes to growing their business value.
How Can Small Business Owners Increase Their Company's Value? With David Chudyk & Ralph Estep, Jr.
In this episode of the Ask Ralph Podcast, host Ralph Estep Jr. interviews David Chudyk - a Certified Financial Planner who specializes in helping small business owners. They dive into the difficulties of evaluating a business's true worth, delegating tasks to free up time, and managing client expectations. David emphasizes the importance of systems and processes to remove reliance on the business owner. But how does one implement such changes when worn down by the grind? Tune in to gain insight into increasing business value through strategic planning, asset management, and faith-based principles. Ralph and David leave the entrepreneur with food for thought on elevating their business from a job to an asset.
00:00 Introduction
00:38 Increasing Business Value
02:38 The Hub and Spoke of Business
04:22 Recurring Revenue Strategies
07:11 Empowering Employees
11:14 Relationship Building
14:45 Business Diversification
17:47 Gatekeeping for the Business Owner
20:16 Tax Planning Considerations
22:06 Increasing Business Value Strategically
27:06 Faith in Business
32:59 Final Word
35:33 Outro
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