3 Questions For Determining Your Highest and Best Use

SIBP-Blog-NEW-B-2In my last post, I explained the concept of “highest and best use,” and how it applies to running a business. It’s an easy concept to wrap your head around, but how do you apply it to your business in a practical way? As an entrepreneur, how can you discover what your highest and best use actually is?

To help, I’ve developed a simple, three-question approach to help you identify those tasks that simply don’t represent the best use of your time and mental energies. Continue reading

The Value of Knowing Your “Highest And Best Use”

SIBP-Blog-NEW-B-3In the real estate world, there’s a concept called “highest and best use.” It’s a principle appraisers use to determine the optimal value of a piece of property. The basic idea is that a property’s use and its value are strongly connected. When a property is being used in the best way possible — taking advantage of its location, utilizing available parking, being in good shape with modern upgrades, and complementing other nearby properties — then it should also have its optimal value. When a property is being used poorly, on the other hand, its value suffers.

You might be thinking “That’s great, Tom, But what does this have to do with entrepreneurship?” Everything. Continue reading

Ep. 077 – The Work-Life Balance and Seven Signs of Vibrating, Part 2

SIB-Blog-2Are you really constantly overworked as you build your new business? Are you truly too overwhelmed to make time for your personal life? Or are you simply obsessing over the tiny details, “vibrating” in place rather than generating forward momentum?

In today’s episode, host and business coach Tom Ryan wraps up his “Seven Signs of Vibrating” list. If you answer “I’m busy … but it beats the alternative” when someone asks how you’re doing, you need to listen to this podcast. Continue reading

Ep. 069 – An Interview with Brenden Fitzgerald, Part 3

SIB-Blog-3As an entrepreneur who has spent substantial time in the crowdfunding space, Brenden Fitzgerald has a few thoughts for listeners about growing a community, building collaborations and exploring partnerships as a means of creating a successful campaign.

In this final installment of this three-part interview, host Tom Ryan and co-host Jason Pyles also chat with Brenden about his favorite startup resources, balancing priorities, time management, and what it means to be a “slasher” entrepreneur. Continue reading

Ep. 062 – Determining Your Highest and Best Use

SIB-Blog-3As entrepreneurs, we wear a lot of hats. We create business ideas, raise money, create product plans and develop marketing strategies. Particularly in the early stages of the business, we even take on all the tasks that simply have to be done, from keeping the books to taking out the trash. But is doing everything yourself always a good idea?

In this “on the road” solo episode, host Tom Ryan explores the real estate concept of “best use” as it applies to entrepreneurs. Continue reading