Money

Single vs. Married Entrepreneurs: Who Has the Edge?

Posted by Carl Gould on September 09, 2012
Money, entrepreneur / No Comments

“Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CMTmentors.com), the farthest-reaching business mentoring organization inthe world. Carl’s unique approach to executive coaching, business mentoring andperformance training helps his clients achieve results worldwide.  His latest book, The7 Stages of Small Business Success – From Startup to 7 Figures in Three Yearsor Less, will provide entrepreneurs and business owners a step-by-step formula totaking their businesses to the next level”. Gould is also the author and creator of The 7Stage Turnaround Process (www.7StageTurnaround.com). 7 Stage Consultants helpbusiness owners grow their sales, increase their cash flow and lower their expensesusing a proven method of business growth strategies. To learn more about ourConsultants, go to http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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Working With a Coach

Posted by Carl Gould on August 08, 2011
Franchise, Money, entrepreneur, marketing, small business owner / No Comments


Maureen Geiger is a 7 Stage Consultant and Small Business Advisor in New Jersey. He is a regular contributor to our blog, www.the7stages.com . 7 Stage Consultants work with small to medium size businesses to increase their sales, lower their expenses and grow their businesses. To learn more about the 7 Stage Turnaround Process, go to www.7StageTurnarond.com . To get your copy of “The 7 Stages of Small Business Success”, go to www.The7StagesOfSmallBusinessSuccess.com

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Spring has sprung in the northeast United States. How can you tell?

Posted by Carl Gould on April 07, 2011
7 Stage Success with Carl L Gould, Announcement, Money, entrepreneur / No Comments

We have SNOW on the ground!

I have discussed many times the ‘Seasons of Business’ and that the hallmark of the winter season is its volatility. South Africa has joined the world recession (welcome aboard!), the Far East continues to struggle, the United States appears to be on the rebound a bit, Europe is still wading through its bailouts. Corrections are never comfortable.  Kudos to the Canadians and their conservative banking practices as they were not hit as hard as the rest of the world! The volatility continues. Remember to have your Up market strategy, your Down market strategy, and you Sideways market strategy in place….ready to deploy.

This business season is not something to avoid, rather it is to be embraced. Times of volatility bring with it opportunity. Keep your clients poised and ready for any shifts in the market. The company that can adjust accordingly will be the leader and the first to cash. Have a great month.

P.S. As they say, April showers bring May flowers. So don’t wish away the season you are in, enjoy and embrace it for the gifts that it brings.

“Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CMTmentors.com), the farthest-reaching business mentoring organization in the world.
Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”. Gould is also the author and creator of The 7 Stage Turnaround Process (www.7StageTurnaround.com). 7 Stage Consultants help business owners grow their sales, increase their cash flow and lower their expenses using a proven method of business growth strategies. To learn more about our Consultants, go to  http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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Business Brokers, Why Are You Throwing Away 90% Of Your Leads?

Posted by Carl Gould on March 22, 2011
Money, entrepreneur, marketing / No Comments

When you network and meet businesses owners, how many of them are ready to sell their business? If only 1 out of 10 business owners are even thinking of selling, what are you doing with the other 9 leads? Consider these statistics…

According to research,

560,000 businesses will OPEN this year

530,000 businesses will CLOSE this year

Only 30,000 businesses will SELL this year.

You have built your entire livelihood around finding a needle in a haystack!

Most businesses owners dream of selling at some point and having something to show for their blood, sweat and long hours. What do business owners say to you when they realize that you are orchestrating a fire sale, and that the result of their years of hard work is a discounted price on their ‘assets’?

Finally, you can provide HOPE to the business owner when you can properly prepare their business for sale so they can MAXIMIZE the return they get for their business.  Have you considered adding business consulting and coaching to your practice so you have something to offer the other 90% of the leads that you have?

Business brokers, to what your leads are REALLY telling you when they say they want to sell. They want out from the stress and worry of their business not producing the financial return to match the amount of time and energy they are investing. Isn’t it time to hear that plea and provide a service that can help the business owner get what they want out of their business before they get out of the business?

 “Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CMTmentors.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide.  His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”. Gould is also the author and creator of The 7 Stage Turnaround Process (www.7StageTurnaround.com).  7 Stage Consultants help business owners grow their sales, increase their cash flow and lower their expenses using a proven method of business growth strategies.  To learn more about our Consultants, go to http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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Using Storytelling To Promote Your Business

Posted by Carl Gould on January 06, 2011
Franchise, Money, business, entrepreneur, marketing, small business owner / No Comments

I have successfully used storytelling throughout my business career. The three main businesses
that I have owned are…a landscape contracting company; a home building company; and a
business coaching company. I will give you an example of how I use storytelling in each of these
businesses.

1. Landscape contracting company – Building the Perfect Backyard: I met Bob when he
first moved from the Midwest to New Jersey. We installed a new brick driveway at his
home when he first moved in. his home was a bachelor pad. He had just moved to New
Jersey and didn’t know many people. I asked him how he intended to meet anybody
given how remote the location of his house was. It took a while, but Bob did make some
new friends and soon began dating a woman he met through work. I got the call from
Bob one day that he and his lady were engaged and moving to a new home (closer to
civilization this time!). Way to go Bob! They wanted to have the wedding reception in
their new backyard and needed some guidance. We cleaned, cut, manicured, trimmed,
planted and mulched our way to a beautiful backyard setting. The wedding was a success
and Bob and his family still live in that home today, some 15 years later. Of course, he
credits all of his family success to his landscaper. J

2. Home building company – (Re)Building Your Dream Home: Ann and Rich were the
caretakers of a family owned plot of lakefront land. For years they have traveled to this
lakeside retreat, which was now in disrepair. They dreamed of spending weekends at the
lake house, but they needed enough room for the rest of the family to join them. We built
a stunning log home that was the envy of the entire lake community. Four bedrooms, two
baths, open floor plan and huge wood-burning fireplace created an idyllic setting for this
and generations to come. Ann and Rich’s wish was to get away to a log home, and they
got their dream!

3. Business coaching company – From Startup to 7 Figures in three Years or Less:
Andy wanted to let me know how my business coaching has benefited his family. Just 3
years ago, Andy loaned his son a substantial sum of money to open his own restaurant
(Beachwood BBQ- Seal Beach, Ca – BeachwoodBBQ.com). This was not only his first
restaurant, but his first business. Andy gave him the money with two conditions:

1) He reads business books.

2) He allows me to mentor and coach him.

Well, after 18 months in business, he is profitable, has just been ranked # 3 in

California and #1 in Orange County!

HE IS FEATURED IN THE APRIL(08) ISSUE OF ENTREPRENEUR MAGAZINE!

(See Article: What’s Cooking? Hungering to launch your own restaurant?

Use these 7 tips to get your business started now. )

From the start, I was able to employ all of lessons learned from you, from “What are

your goals’ and “how are you going to get there” to drilling down to establish the brand,
holding him accountable to his plan and “being good for him” has all lead to Gabe’s (son)
transformation from a great technician to a great entrepreneur. I was able to focus and
make him aware of his “weakness” and by using some of the role playing you taught was
able to work through these challenges, adjusting his thought patterns, allowing him to
become more confident in his decisions and management style.

I just wanted to personally thank you for all of your business coaching. I look forward to the
continued training and education. A.G., Phoenix, AZ

 “Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC
(www.CMTmentors.com), the farthest-reaching business mentoring organization in the world.
Carl’s unique approach to executive coaching, business mentoring and performance training
helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business
Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and
business owners a step-by-step formula to taking their businesses to the next level”. Gould is
also the author and creator of The 7 Stage Turnaround Process (www.7StageTurnaround.com).
7 Stage Consultants help business owners grow their sales, increase their cash flow and lower
their expenses using a proven method of business growth strategies. To learn more about our
Consultants, go to http://7stageturnaround.com/mtc/mentorlist.php?groupid=1

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How to Become a Good Mentor?

Posted by Carl Gould on November 18, 2010
Career, Money, business, employees, marketing, small business owner / No Comments

Here are my responses to an online interview that I gave regarding mentoring…how would you respond these questions?
What skills are needed to mentor another person?
Carl: To be a mentor, no skills are required. Your willingness to help another person is the number one ingredient in being an effective mentor. Your job as a mentor is to help somebody navigate a process or a part of their life/business that you have already successfully navigated. Experience sharing of how you are successful will be the most valuable to your mentee. You need to be willing transparent and share both your successes and failures with your mentee. A mentor is someone who sees the person inside the problem and helps them navigate through their maze successfully.
What challenges do you face as a mentor?
Carl: You will be judged based on the success (or not) of our mentee. You can guide them but you can’t do it for them. Don’t let the mentoring become about you and your skills. Share your experiences and our subject matter expertise, and then allow the mentee to discover the path and make the decisions for themselves.
What do you wish you knew when you first started serving as a mentor?
Carl: I never realized just how valuable the mentoring process was to the mentee when I first started. As I think back on my earliest mentoring assignments, I wish I knew that then.
What tips would you give someone starting out?
Carl:
• Be authentic and be yourself
• Share real and practical experience – no theory here.
• Ask probing questions – the quality of your questions will determine the quality of the mentoring experience for both.
• Get trained in effective communication and active listening skills.
“Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CarlGould.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”

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Negotiating salary: should you negotiate all you can or take what they offer?

Posted by Carl Gould on November 10, 2010
Money, business, employees, small business owner / No Comments

Unemployment is at a record high and many job seekers struggle with not only getting a job, but securing a salary commensurate to their qualifications. While this blog is historically devoted to entrepreneurs, we do get many employees who are looking for tips in speaking to business owners.
To negotiate or to not negotiate, that is the question…
1. Investigate what the going rate is for your services in the marketplace currently. Find out what people are being hired for and at what salaries. This would give you a good idea as to what the ‘competition’ is doing. This might help you establish your ‘asking price’.
2. Know your ‘walk away’ number. Is there a level of compensation that you would not accept no matter how badly you needed the job? If the employer offers you compensation that is at or near your asking price and far away from your walk away number, then there is no need to negotiate.
3. Negotiate on perks, benefits, and terms if you can’t negotiate price.
a. Most businesses are struggling to hang on and, during this time, most employees are lucky just to have work. The last thing an employer needs is another bill they can’t pay. However, in lieu of increased salary, they may be willing to give you…flexible hours, increased benefits, more vacation or holiday time, etc.
b. Unless you can show your employer that you bring into the company or save the company, five times your salary or more, then negotiating on price will be quite difficult.
Be realistic! Recognize that times are tough. Also, recognize that entrepreneurs are keenly aware that this is an excellent environment to take risks and to grow. Get hired at a rate you can live with and live on, prove your worth, and negotiate from there having shown your value directly.
“Carl L Gould is the President and Chief DISCoverY Officer CMT International, LLC (www.CarlGould.com), the farthest-reaching business mentoring organization in the world. Carl’s unique approach to executive coaching, business mentoring and performance training helps his clients achieve results worldwide. His latest book, The 7 Stages of Small Business Success – From Startup to 7 Figures in Three Years or Less, will provide entrepreneurs and business owners a step-by-step formula to taking their businesses to the next level”

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