Ep. 141 – Sale Deconstructed: Initial Consultation Approach Part 1

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SIBP-Blog-NEW-4Meeting with prospective clients can be a time-intensive process. It can also be a frustrating one, particularly when those meetings don’t result in a sale. There are few things more disheartening than spending an hour talking over coffee with a potential client, only to have them give their business to someone else.

In this episode, host and business coach Tom Ryan discusses a seven-point plan to make that initial consultation both more efficient and more likely to result in a sale. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 140 – “You’re Fired”: How to Let Someone Go as Painlessly as Possible

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SIBP-Blog-NEW-2Firing an employee is one of the most uncomfortable things you can do as an entrepreneur. From letting underperforming sales reps go to strategic downsizing, it’s always a thorny process filled with conflicting emotions. The smaller the company, the more intense those personal relationships tend to be, making things even more complex. There are times where firing people is inevitable, and where the best you can hope for is to make it as painless of a process as possible.

In this episode, host and business coach Tom Ryan discusses the best practices for letting employees go. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

4 Tips For Knowing If You’re Really Ready To Start A Business

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SIBP-Blog-NEW-B-2For every would-be entrepreneur, there comes a time where you’ve done all the planning and prep work you possibly can. You’ve taken your time, you’ve asked all the right questions, and there’s seemingly nothing left to do but get started. Yet, there’s still that nagging doubt. Maybe you’re missing something. How can you know that you’re really ready to start your business?

Starting a business is a scary prospect, particularly if it’s your first time. Can you really trust your gut instincts when that same gut is also filled with butterflies? It helps to have some outside confirmation that you’re truly ready to roll.

In this post, I’ll talk about four simple tips for knowing if you’re ready to turn your well-planned business idea into a real business. Continue reading →

Ep. 139 – Great Ideas Are Like Wearing Cut-Off Jean Shorts to the Indy 500

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Shades, 'stache, and wolf-print t-shirt

Shades, ‘stache, and wolf-print t-shirt

In this special episode of the Success in Business Podcast, host Tom Ryan finally unleashes his epic tale about a bachelor party, a mustache contest, too-short cutoff jeans, and how the all collided at an iconic car race. In addition to a few laughs, this anecdote might even include a valuable lesson for would-be entrepreneurs.

In addition to his work as a raconteur and podcast host, Tom Ryan is a business coach with the Kauffman Foundation Entrepreneur in Residence program in Asheville, NC. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

6 Things To Remember About Startup Failure

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Image source: https://www.flickr.com/photos/zstasiuk/

Image source: https://www.flickr.com/photos/zstasiuk/

Most startups fail. That may seem like a strange sentiment coming from a business coach and self-proclaimed serial entrepreneur, but it’s the truth. A big part of being a successful entrepreneur is becoming comfortable with the reality that you might pour your heart and soul into a business, only to see it crumble right in front of you.

At the same time, failure isn’t a bad thing. As I explain below, failure can actually be one of the most valuable entrepreneurial experiences you could ask for. It can be a powerful teacher. But to get the most out of failure, you need to understand what it is, and to prepare for it before it happens. In this post, I’m be talking about the six most important things to remember about failure as you prepare to launch your business. Continue reading →

Holiday Break — See You Monday!

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Merry Christmas and happy holidays from the Success in Business Podcast. Your host, Tom Ryan, and the producer, Jason Pyles, hope you’re happy and healthy and enjoying this special time with your family and friends.

This brief recording is to let you know that we will be taking a short break and will not release an episode on December 24 and 25 — Christmas Eve and Christmas Day.

But we shall return on Monday, December 28, with more how-to advice and expert counsel for aspiring entrepreneurs and small business owners for the Success in Business Podcast. Join us!

So, we’ll look forward to catching up with you again on Monday!

Merry Christmas! Continue reading →

5 Tips For Identifying And Connecting With Prospective Customers

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SIBP-Blog-NEW-B-3If you want to your business succeed, you really have to know who your customers are — and what they want. Creating a great company isn’t just about having a brilliant idea for a product or service. It’s also about delivering something that people not only need, but also something that they are willing to pay for.

No matter how astonishing your business concept is, it will be dead in the water if it can’t connect to customers. Often, the difference between a success and a flop isn’t some huge gulf in how a product works or a service is priced. The thing that usually tips the scale is how well that product fits the needs of the customer. Continue reading →

Ep. 138 – Frequently Asked Questions From Investors (and What They Mean), Part 3

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SIBP-Blog-NEW-3Investors love asking tough questions after a business pitch. They may start off with softball questions, but sooner or later they will start throwing you some real curveballs. How you react to those tricky, probing and often unexpected questions says a lot about your ability to manage the daily challenges of being an entrepreneur.

In this episode, host and business coach Tom Ryan wraps up this three-part series with the “junk balls” of the post-pitch Q&A session. As always, Tom is joined by co-host and producer Jason Pyles. Continue reading →

Ep. 137 – Frequently Asked Questions From Investors (and What They Mean), Part 2

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SIBP-Blog-NEW-2As you’re wrapping up your pitch presentation, it’s inevitable that your would-be investors will have questions. In part one, host and business coach Tom Ryan covered the obvious, predictable questions you can easily knock out of the park. Now it’s time to talk about the less-easy questions.

In this episode, he takes a look at the tougher, less-obvious topics that can all too easily trip you up if you aren’t prepared. Tom is joined, as always, by producer and co-host Jason Pyles. Continue reading →

5 Tips For Telling Your Startup Story

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SIBP-Blog-NEW-B-2In my role as a Kauffman Foundation Entrepreneur in Residence, every day I get to work with some truly awesome people. These are the founders of startups and early stage companies, men and women who are willing to take a risk on turning an idea into a business. As a business coach, I’m in the unique position of being able to see the their struggles from a more detached vantage point. It doesn’t take long before some common patterns — and problems — start to emerge.

The most common challenge I see with startups, for instance, is raising capital. Another common issue most early stage companies struggle with is getting traction and increasing sales. And then there’s the third biggest problem most startups struggle with: Storytelling. Continue reading →