Recently I was working on a tool to help our coaching team internalize the best practices we’ve developed to handle the most common business challenges. While the document I eventually created dealt with 12 key challenges, here is a summary of four that I’ve observed are most common to small businesses we coach ($1-25 million […]
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Think for a moment about how much money you spend on digital and print ads. If you’re like many of our business coaching clients your ad spend may total up to 10 percent of revenue. Yet what if you’re wasting a massive portion of that money? Here is a simple principle that is guaranteed to […]
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I was talking with Tony about his benefits consulting company when he shared his biggest struggle. (Disclosure: Tony was a former business coaching client for three years.) “David, how do I get my sales people to spend more time in the field actually selling?” I understood Tony’s frustration. He knew that the success of his […]
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Thomas owned a successful manufacturing business in northern California. He was an experienced business owner who recognized he needed help to take off many of the lower level administrative details off his plate that were distracting him from the higher value work he needed to get down. Here is the same 5-step process we suggested […]
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Years ago one of my business mentors Roy shared with me on a rafting trip how time away from his business was one of the key tactics that helped him scale it. Over the past 20 years as an entrepreneur scaling companies has taught me that a business owner can cast a pretty big shadow […]
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Let’s start with the plain truth–it’s hard to find great talent. And every hire is a gamble of tens of thousands of dollars or more which you lay on the line hoping that the person you hire lives up to even most of your hopes from the selection process. I was recently giving a keynote […]
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You’ve likely had this experience. You just closed the deal. You and your team are sharing hi-fives around the office. You’re mentally counting your profit on the deal and the thrill of the new customer you’ve brought on… then you get that email canceling the deal. What happened? You likely missed a key step in […]
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I was giving a keynote address to a group of medical practice business owners when one of the people in the room came up to me after and shared about his cash flow challenges. His practice was generating just shy of $3 million dollars a year in revenue, but he felt anxious because he never […]
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I just returned from a large business conference my company, Maui Mastermind, hosted in Florida. One of the most important themes we that came up in several of the question and answer periods was how could an entrepreneur, or any business executive for that matter, break the connection between hours worked and value created. As business […]
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“David,” my client asked, “How do we increase of volume? We’ve been struggling ever since we lost that one big account.” This is such a common situation for a professional services firm to deal with – a painful need to quickly grow revenues. Considering that for most professional services firm, whether they be a law […]
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How do you find the best places to focus your company’s limited time, attention, and money? Simple – go for the “Sweet Spot.” Here’s how. Every business has a “Limiting Factor” (capital L; capital F). Your company’s Limiting Factor is the single biggest constraint currently limiting your growth. It’s the one ingredient that, if only […]
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Would you like to know the two most important secrets to being disciplined with your use of time? The remarkable thing is that they don’t require willpower. I understand that most business owners shudder when thinking about a need for greater discipline because they’ve always associated it with pain and effort. But if you can […]
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Finding the perfect vendor for your next project can not only be a challenge but also extremely time-consuming. After weeding through the hundreds, even thousands, of companies in the industry, you narrow it down to the top 20 to 30 candidates. You then reach out to each vendor, set up a discovery call, explain what […]
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If this year has taught us anything, it’s that the way you do business can change at the drop of a hat and as business owners we have to be prepared for whatever comes next. This is particularly true when it comes to strategic expenses such as your marketing efforts. Which is why I suggest […]
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Small-business owners across the country have sought out emergency loans or funding to help cover their expenses during the Covid-19 crisis. Many businesses have received their funds, and may be wondering how best to use their existing funds and credit lines to stretch them further. If you missed out on the Paycheck Protection Program funding, you […]
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Fifty percent of all fraud attempts were due to poor internal systems and controls, according to the Association of Fraud Examiners 2018 report. And the findings went on to conclude that most fraud schemes lasted a median duration of sixteen months. Which means the majority of those stealing from their employers had been with the company […]
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As the end of the year quickly approaches, a lot of our business coaching clients are busy planning for the new year. They are looking at their systems and controls, their strategic depth and their talent bench to see where they need to make adjustments for the new year. And like many of you reading […]
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Despite your best efforts to recruit and hire the best job candidates on the market, chances are they may no longer be with you twelve months down the line. It’s just the reality of being a small business owner. Not only is this time-consuming and frustrating, but it costs you a lot of money and […]
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Just the other day I was thinking about a business owner that I had coached several years ago. Since he may read this column, I will call him Terrance (not his real name). Terrance owned a seasonal hospitality business in southern Utah and worked eighty plus hours a week, every year from May through October. […]
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Do you have the answer to fix the problem? When you staff comes to you and shares a problem does the right thing to do jump immediately to mind and out your mouth? If you’re anything like the thousands of business owners my company, Maui Mastermind, has worked with over the past decade the answer to […]
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Effective communication is the cornerstone of successful leadership. Whether you’re leading a small team or an entire organization, your ability to convey ideas, inspire action, and build trust through communication can make or break your leadership journey. In this article, we’ll explore essential strategies for mastering leadership communication. 1. Know Your Audience Understanding your audience […]
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Goal setting is a fundamental practice in personal and professional development. Whether you’re an individual striving for personal growth or a business aiming to achieve success, setting clear and achievable goals is paramount. In this article, we’ll explore effective strategies for setting and achieving clear goals that can drive your personal and professional endeavors forward. […]
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Effective leadership is built on trust, transparency, and collaboration. And one of the key aspects of fostering these qualities within your leadership team is deciding what information should be shared and what should be withheld. Striking the right balance between openness and confidentiality is crucial for a thriving and effective leadership team. In this article, we’ll explore […]
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Life is filled with challenges and setbacks. Whether you’re facing personal difficulties, professional hurdles, or unexpected crises, resilience is the key to bouncing back and thriving in the face of adversity. In this article, we’ll explore essential strategies for building resilience and developing the inner strength to overcome life’s challenges as a leader. Understanding Resilience Resilience is the […]
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I have talked a lot about how a good leadership structure is the backbone of any successful organization. In over 25 years of business coaching, I have seen firsthand just how important leadership is to the growth trajectory of a business. While the traditional top-down leadership model has been the norm for decades, a shift towards peer-to-peer leadership is […]
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In my 25 years as a business coach, I’ve seen how crucial effective leadership is in scaling a business. It isn’t about working harder; it’s about working smarter. I’m here to share insights on building a leadership team that elevates your business without the inevitable burnout many business owners face. Embracing Collective Leadership Many business owners feel they must […]
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As a business coach for over two decades, I have come across a lot of different leadership styles and techniques. But there is one setup in particular that is almost always destined to cause problems and slow growth for any business owner. So today I want to share with you what that leadership mistake is, and how you […]
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After mastering the art of building a strong leadership team, the next crucial step is learning how to delegate effectively. In my 25-plus years of experience, I’ve seen many business owners struggle with this. However, effective delegation is a game-changer, empowering your team and driving business growth. So today I wanted to share with you 5 secrets […]
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Imagine shaping a company’s culture not with brute force, but with the finesse of a craftsman. As a business coach for more than twenty-five years, I have worked with thousands of businesses to help them develop a company culture that not only works for their business and their customers but will also withstand the test of time. […]
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As a business coach, I generally meet new business owners in one of two states of business. The first is doing so well that they can’t keep up with demand and are looking for ways to streamline their processes and procedures and build up their leadership team to keep up with the demand for their products. This is without a doubt […]
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It’s that time of year when the business conference invitations are coming fast and furious. Everyone is gearing up for the new year, and it makes sense that you too may be looking at the future and deciding what conferences you want to attend and why. And as a business coach for over twenty-five years, and someone […]
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As business owners, there are a lot of things on our plates and it can be really easy to get caught up in the day-to-day minutia. It is really easy to just start accepting the status quo, take the wins and losses as they come, and get buried in paperwork and to-do lists. But if you want to […]
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Keeping a team accountable is hard work. And as a leader it’s important to understand that accountability is the cornerstone of effective leadership. It’s the adhesive that binds trust, responsibility, and growth. In the world of leadership, accountability is not about pointing fingers; it’s about fostering a culture of continuous improvement. So today I want to explore the […]
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I was recently talking to a potential client at a training event, and the topic of delegation came up. Leonard had a successful small business that was growing quickly and he was overwhelmed. He worked 70-80 hours a week and was unable to get everything that he needed to get done in a given week. He was […]
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When it comes to small and medium-size businesses, most owners didn’t start out with plans to manage a team. They had a great idea for a product or service and decided to bring it to market. They learned the ins and outs of their industry, and what their customers needed or wanted, and put all the pieces […]
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As a business coach for more than 25 years, I talk a lot about control and micromanagement. Because it really is one of the biggest problems in the business world and can hinder growth for years and years to come. But as a business leader, you may be asking yourself how do you find the […]
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As a business coach, there’s nothing better than a client who not only sees the value of coaching but goes the extra step to offer it to their key team members as well. Overall, these clients see not only exponential growth in a shorter period of time, but also job satisfaction for everyone on the team […]
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I just recently got off a coaching call with a new business client, and it was very apparent that their biggest and most pressing issue was their propensity to micromanage. They had been doing it for so long that it was an integral part of their company culture. New managers were even encouraged during training to oversee […]
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In my 25 years as a business coach, I can say with great certainty that one of the biggest problems in business leadership has to do with control. The vast majority of owners I speak with on a daily basis struggle to let go, and as such their businesses suffer. I call this problem “control-itis,” which is a term […]
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In your business journey, there comes a point when managing everything on your to-do list while meeting essential needs becomes impossible. As a business coach for more than 25 years, one of the first things I teach small-business owners to do is start prioritizing time and scheduling focused blocks to work on the highest-value tasks in their business. […]
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Putting together a solid leadership team for your business is a big milestone for any small-business owner. But once you have your team assembled, many small-business owners think they are done with the heavy lifting. Unfortunately, that is just the beginning. You still need to put in the work of defining leadership team expectations, as well as laying the […]
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As a business coach for over 25 years, I can tell you that one of the most damaging things you can do for your business is to rely too heavily on one or two key members of your team. It’s easy to understand why we do it. That person has likely been there for an extended period, they are […]
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We talk a lot about delegation with our business coaching clients here at Maui Mastermind, and for good reason. Effective delegation is essential for the growth and success of any business. And the majority of owners and leaders of small to medium-size businesses aren’t very skilled in delegating tasks to their team members. It is usually clunky […]
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Delegating tasks and ownership are vital aspects of effective leadership, enabling business owners to scale their operations and empower their teams. And as a business coach for more than 25 years, I can say that this is one of the things that business owners struggle with the most. The majority of leaders understand the first level but after […]
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In an ideal world, you and your team will put together a quarterly action plan every quarter and then blissfully work on the tasks within that plan making great progress along the way. There will be no surprises, no hurdles, and no obstacles to overcome. But that isn’t how the business world works. There are […]
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When it comes to managing staff, there are lots of tips and tricks out there to help you be a good manager and leader. But at the end of the day, it really comes down to a few simple tips and tricks that not only help guide your team to success, but really frees up everyone’s time to […]
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When it comes to company culture, many business owners aren’t sure where to begin. They know it’s important and that it can help them grow and develop their team, but that’s where the knowledge runs out. Should you create a company handbook? Should you send out memos outlining desired behaviors? Should you start rewarding those that model behaviors and actions […]
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As a business coach for more than 25 years, I have helped a lot of business owners create company cultures that not only help shape their business for years to come, but can actually help increase their profits and bottom line. And in the past, I have talked about company culture and shared ways that you […]
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As a leader, everything you say and do becomes part of your company culture, whether you want it to or not. Every time that you show up late to a meeting, or miss a deadline, your team is watching and taking notes. But on the flip side, every time you make a deliberate effort to act […]
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Hiring and onboarding new talent can be a process, and for many small business owners the first 90 days after a hire are the most crucial to the new hire’s success or failure. So today I wanted to share with you three steps that I encourage all our business coaching clients to do with each and every new hire […]
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When it comes to service-based businesses, one of the most frustrating and costly mistakes any business owner can make has to do with phantom deliverables and scope creep. If left unchecked, you can not only burn your team members out quicker, but all the extra work and resources can quickly start to eat into your profit margins […]
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As a small-business owner, it’s safe to say, you never set out to fail as a leader. The majority start off with the best intentions and want to grow a team and a company they can be proud of for years to come. But somewhere along the way, things start to get fuzzy. You start working […]
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As a business coach for more than 25 years, I have helped thousands of business owners grow and scale their businesses through the creation of systems and processes and intelligent hiring practices. And one topic that comes up often is how to craft the proper questions for a job interview, while paying attention to the various laws […]
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As a leader, your actions always speak louder than words when it comes to creating a company culture that is beneficial for both your employees and your company as a whole. And, from my experience as a business coach who speaks to thousands of owners every year, there are some actions that speak louder than others. […]
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As a small-business coach, I have seen it all. Thousands of business owners each year work with my team to help grow and scale their businesses, and the vast majority of those owners usually come to us completely overwhelmed with the sheer volume of things that they need to accomplish every single day. Then when you add […]
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As a business coach for more than 25 years, I have helped thousands of business owners grow their businesses. And one of the ways we do that is by helping them create safe, nurturing spaces in which their team members can grow and develop. For many leaders, psychological safety is an idea they may not have ever […]
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Remember as a child when you were told, “if you don’t have anything nice to say, don’t say anything at all”? Well, that piece of advice is relevant when it comes to managing a team as well. And as anyone who has ever managed a group of people knows, it can be difficult at times with different […]
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Being a good manager is hard work. It’s one thing to get your team in alignment on a task or project at hand to meet a deadline, but it’s a whole other thing to help your team members grow and develop as individuals within your organization. And unfortunately, that’s where many managers and leaders fall short. We are so […]
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Leading a team can be a lot of work, and for many business owners and leaders their first real experience leading a team is when they start their own businesses. This is why it’s imperative that you take the time and energy to hone your management skills along the way to help your business grow and thrive. Today, I […]
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By now we all know that emotional intelligence is important for leaders and managers to be successful. But today I wanted to go a step further and talk about social intelligence. What it is, why it matters, and how you can improve this soft skill to become a better manager and leader for your team. First, let’s define […]
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