Summary:

How much is employee turnover silently costing your business? Lower employee retention rates can cripple your business value – here's how you can turn the tide.

In this episode, Adam and Steve Burton tackle the rising challenge of employee turnover, offering tactical solutions such as a beneficial payroll tax credit and a future-oriented 401(k) program. These strategies not only reduce costs but also empower employees to perform at their best. By implementing these measures, you can build a strong, loyal team that adds substantial value to your business.

Adam and Steve discuss:

• (01:50) How high employee turnover can significantly increase operational costs and reduce business value

• (13:12) The mutual benefits for employers and employees from implementing an ongoing payroll tax credit, boosting employee retention

• (16:14) Why a tactically managed 401(k) plan encourages financial literacy and improves employee performance

• (23:28) Strategic employee benefits that enhance the long-term success and value of your business

• And more!

Resources:

• Unlock your business’s potential with our free Scale to Sell self-assessment

• Book your free discovery call with us today!

• Mission One Million by Merle Gilley and Steve Burton

• 018 - Retaining Top Talent

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton and Steve Burton:

• LinkedIn: Adam Burton

• LinkedIn: Steve Burton

Summary:

How can you successfully sell your business and ensure a smooth transition?

In this episode Scale to Sell, Steve Burton speaks with Jeff Snell, a mergers and acquisitions expert, to discuss the nuances of selling a business. Together, they dive into the importance of business valuations, the current landscape of business sales, and strategic planning for a successful exit. You'll learn the key considerations for preparing your business for sale, the role of external and internal sales, and the value of having a qualified deal team.

Steve and Jeff discuss:

• Importance of regular business valuations and how they vary

• The current market conditions affecting business sales

• Differences between external and internal sales

• The significance of having a well-rounded team for a successful exit

• And more

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton and Steve Burton:

• LinkedIn: Adam Burton

• LinkedIn: Steve Burton

Connect with Jeff Snell:

• LinkedIn: Jeff Snell

• ENLIGN Business Brokers

About our Guest:

Jeff Snell is an M&A expert with over 20 years of experience in business brokerage. He is the credentialing chairman for the International Business Brokers Association and holds several prestigious designations, including Certified Business Intermediary and Merger and Acquisitions Master Intermediary.

Summary:

How do you assess your business’s value and plan for a smooth exit? How do you ensure your business thrives even in your absence?

Join Adam and Steve Burton as they dive into the crucial self-assessment questions every business owner should ask to determine their current status and future goals. You'll learn about the importance of understanding your business value, the necessity of stepping away without disruptions, and planning a thoughtful, strategic exit.

Adam and Steve discuss:

• The importance of knowing the present value of your business in the current marketplace

• Challenges of being central to your business's growth and operation, and how to mitigate them

• Evaluating the business, financial, and personal aspects of your exit strategy

• The need for a defined succession and transition plan to ensure stability and continuity

• And more!

Resources:

• Unlock your business’s potential with our free Scale to Sell self-assessment

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton:

• LinkedIn: Adam Burton

Scale to Sell

5 Stages to Scale and Sell Your Business (Ep. 22)

Summary:

Scaling and selling a business can be a daunting task, but with the right strategies, it can lead to a successful and profitable exit.

How do you identify and protect the value of your business? How do you build and harvest that value to ensure a smooth exit on your terms?

This week on the Scale to Sell podcast, Adam and Steve Burton explore five critical stages for scaling and selling your business effectively. You'll gain valuable takeaways on how to strategically plan your exit, reduce risk, increase your business value, and ensure a smooth transition for your successor.

They touch on:

• Identifying Value: Understanding the worth of your business and how it compares to others

• Protecting Value: De-risking your business to maximize its value

• Building Value: Growing your business by enhancing human, structural, customer, and social capital

• Harvesting Value: Securing a return on your investment through various exit strategies

• Managing Value: Protecting the wealth created and managing exit options

• And more!

Resources:

• Are You Financially Ready to Retire? - Scale to Sell (Ep. 4)

• Get a free annual estimate of your business's value today! scaletosell.com/discovery

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton:

• LinkedIn: Adam Burton

Summary:

Are you looking to strengthen your business mission statement and see a significant impact on growth?

This week on Scale to Sell, Adam Burton chats with Jonathan Sheeley, Executive Consultant at Sheeley Executive Consulting, to explore how the principles of creating a powerful mission statement, often used in nonprofits, can be effectively transferred to for-profit companies.

Jonathan shares his extensive knowledge of strategic leadership and team-building, revealing how a clear mission statement can drive purpose and intentionality in business decisions and daily operations.

Adam and Jonathan discuss:

• The key components of a strong mission statement and how they differ between personal and business contexts

• The importance of having separate mission statements for personal and business goals

• How regularly revisiting and updating your mission statement can aid in effective decision-making

• The impact a well-crafted mission statement has on marketing, operations, and overall business success

• And more!

Resources:

• Business Assessment (My Business Report) - Jonathan Sheeley

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam and Steve Burton:

• LinkedIn: Adam Burton

• LinkedIn: Steve Burton

Connect with Jonathan Sheeley:

• LinkedIn: Jonathan Sheeley

• Website: Sheeley Executive Consulting

About our Guest:

Jonathan Sheeley has assisted more than 100 leaders in capitalizing on the unique strengths of their companies. He acknowledges the significant responsibility that leadership entails and comprehends the importance of their success. With a decade of experience in strategic leadership and team building, Jonathan coaches leaders to navigate business challenges and maximize their potential. His expertise and guidance have been instrumental in helping many leaders like you to excel.

Summary:

Are you prepared for the unexpected events that could disrupt your business exit plan?

This week on Scale to Sell, Adam and Steve Burton dive into the top five unexpected events – the five Ds – that can greatly impact your business exit strategy, emphasizing the vital importance of preparing for these situations.

They draw upon their extensive experience and references such as Christopher Snider's "Walking to Destiny", providing actionable insights to ensure your business and personal life are protected in the face of these potential disruptions.

Adam and Steve discuss:

• The startling statistic that there is a 50% chance one of the five Ds will affect your business

• Death: The impact of a business owner’s death on the business and family

• Disability: How a business owner’s disability can hinder business operations

• Divorce: The potential complications of a business owner’s divorce

• Distress: Various forms of distress that can affect a business, such as economic downturns or market changes

• Disagreement: The effects of disagreements between business partners on the business’s value and operations

• And more!

Resources:

• Get a free annual estimate of your business's value today! scaletosell.com/discovery

• Walking to Destiny by Christopher M. Snider

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton:

• LinkedIn: Adam Burton

• LinkedIn: Steve Burton

Scale to Sell

Scale with the End in Mind (Ep. 19)

Summary:

Have you ever thought about the end goal for your business growth?

In this episode of Scale to Sell, Adam and Steve Burton explore the critical concept of "scaling with the end in mind," explaining why it's crucial for business owners to consistently evaluate their business value and plan for their exit strategy.

Discover how to form an effective exit team, distinguish value from profit, and fully prepare for exiting your business successfully.

Adam and Steve discuss:

• Distinguishing value from profit and understanding their impact on business growth

• Creating a clear direction for growth to save time and reduce wasted opportunities

• Preparing for the three critical parts of a successful exit: the business, financial, and personal aspects

• Strategies to reduce burnout and frustration by planning your exit early

• And more!

Resources:

• Get a free annual estimate of your business's value today! scaletosell.com/discovery

Connect with Our Team:

• Website: Scale to Sell

• info@scaletosell.com

• LinkedIn: Scale to Sell

• Facebook: Scale to Sell

• YouTube: Scale to Sell

• Instagram: Scale to Sell

Connect with Adam Burton:

• LinkedIn: Adam Burton

• LinkedIn: Steve Burton

Summary

In this episode, Adam and Steve discuss the challenge of employee retention and share five ways to retain top talent. They emphasize the importance of having a clear mission and meaningful work, understanding your employees, fostering a positive company culture, offering bonuses and incentives, and providing flexible employee benefits. They also highlight the value of recognizing and acknowledging employees for their hard work. By implementing these strategies, business owners can attract and retain the right people to help their businesses grow and succeed.

Chapters

00:00 Introduction and the Challenge of Employee Retention
06:04 Chapter 1: The Importance of a Clear Mission and Meaningful Work
11:13 Chapter 2: Understanding Your Employees and Their Motivations
14:25 Chapter 3: Creating a Positive Company Culture
25:29 Chapter 5: Flexible Employee Benefits for Retention

Episode Links:

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