Navigating Business Challenges with Deb Snyder
Episode description
In today's episode, Tom Suvansri and Deb Snyder discuss the challenges faced by small business owners and the importance of effective planning for future success. Deb shares insights from her experience at Cultivate Advisors, emphasizing the need for a mindset shift towards enterprise value and strategic planning. They explore the significance of setting SMART goals, the role of team buy-in, and the necessity of having a clear vision for the business. Tune in to hear more about this and the common myths about business planning and the importance of preparing for unexpected events.
Episode Highlights
01:43 - Enterprise value as a paradigm shift for business owners.
02:55 - Importance of working on the business, not just in it.
05:32 - Planning for 2026: Why it's important now.
06:45 - Rewrite of traditional business plans to simpler formats.
07:50 - SMART goals explained.
09:44 - Breaking down business goals into 90-day sprints.
13:45 - Highlighting enterprise value, financials, and business health.
17:46 - Bringing team members into business planning.
19:59 - Importance of key performance indicators (KPIs).
21:37 - The reality of business exits and planning for succession.
25:20 - Employee buy-in as part of the planning process.
27:50 - Having regular review meetings for business plans.
30:02 - Importance of not making the same mistake twice.
Episode Resources
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