DecaMillionaire Decoded

Owning a family business is as much a part of the American dream as having a house with a front porch swing and white picket fence. It’s a fine dream to have, and for many, it can be a reality. Howev…

Recession is a very real part of the economic cycle. Yet, it’s one that nobody really likes to talk about. Understandably, the term conjures many negative emotions. People become fearful during perio…

Luke Acree is the President of ReminderMedia, an organization that helps businesses generate leads, develop repeat clients, and capture referrals. Under Luke’s leadership, ReminderMedia has expanded …

Business owners all over the country are feeling the effects of inflation in their organizations. The longer it goes on, the harder it becomes to simply “wait it out.” The truth is many business owne…

In the tough economy we’re in, we frequently see fierce price wars raging between companies. Business owners are tenacious, bullheaded, and ferociously competitive people. We want to win at all costs…

Christopher Shea is the Chief Investment Officer at WealthSource Partners, a financial advisory firm dedicated to helping financial advisors thrive with business resources, innovative solutions, and …

Business owners and leaders always set visions not only for their companies, but for products and services as well. The thing is, life happens, and not everything turns out exactly as we plan. While …

Many of us business owners are like drivers: our heads are always in the future, thinking about where our companies are headed. On the other hand, many of us aren’t experts in human resources and hav…

Undoubtedly, in our lives as business owners, we will reach a point where we find ourselves considering selling our businesses. Some owners may feel like they've already achieved a certain goal while…

What do you do when you hire the wrong person into your company?

One of the most difficult aspects of owning and running a business is human resources—people, and hiring them. As business owners, we …

We entrepreneurs have an unbelievable propensity for optimism. When it comes to cutting ties with something familiar, we often face familiarity bias. So, when it’s time to phase out a product or serv…

Every day when I turn on the news I see the word “inflation” and never in my life have I seen this word so much. Just the other day, my wife and I went to our local grocery store and purchased bacon,…

You’ve probably heard me preach—shout from the mountaintops, even—several times that for us to drive the values of our companies, we have to decentralize ourselves. We have to remove ourselves from t…

Sales and marketing teams play similar roles in a company. However, many business owners fail to understand the relationship between sales and marketing, costing them resources and the opportunity to…

I went through the process of exiting three businesses in the last year. Despite my experience as an entrepreneur and certified exit planning advisor, I found that the process of moving my business f…

There are a few ways to sell your business: you can sell to a family member or your employees or managers. But what if none of your family members want to take over your business? What if your manage…

The idea of selling a company to a manager or a group of employees isn’t unheard of. In my decades of being an entrepreneur and consultant to other business owners, I’ve listened to many conversation…

Whenever I sit down with business owners and ask them where their business is going to end up, the majority of them have the same answer: they’ll give it to their kids. But even if business owners tr…

This past year—after over three decades of being a business owner—I finally sold my business. There were a few things that I was fortunately prepared for and I was able to avoid devastating blindspot…

If something in your business can be measured, it’s something you can improve. But we business owners often don’t measure; instead, we’re keen on licking our forefingers and sticking them up in the a…