For many aspiring entrepreneurs, the answer is No. No one should build something from scratch right now. Over the next 5 years, with so many baby boomers retiring, there’s a lot of business inventory available. Buying an existing business or investing in a franchise is often the faster, more reliable route to cash flow, financial independence, and the freedom to choose how you spend your time. Starting from zero has romantic and learning value, but it also comes with a long runway of uncertainty, trial and error, and a high risk of failure. Acquiring a business gives you customers, systems, and a revenue history to work with. It reduces the time it takes to reach sustainable income and allows you to focus on growth and value creation from day one.

The primary advantage of buying an existing business is immediate cash flow. A startup typically requires years of investment before it produces reliable revenue. Payroll, rent, marketing, product development, and inventory all burn cash while founders search for product-market fit. In contrast, buying a business brings an existing revenue stream, an established client base, and operational systems. That means you can qualify for an SBA Loan to buy the business. You can pay yourself sooner, use revenues to pay your loan, and reinvest in growth without the same level of bootstrap risk. For people aiming for financial independence and the ability to eventually step away from day-to-day work, the ability to quickly convert a business into a predictable cash flow is priceless.

New ventures often fail because founders lack repeatable processes for sales, delivery, hiring, onboarding, and customer retention. When you buy a business, much of that institutional knowledge exists in some form. Even if the systems are informal or incomplete, you can document, improve, and scale them. That work is more efficient than inventing every operational process while simultaneously trying to acquire customers. Systems are what make businesses transferable to new owners and what buyers pay for. Investing in systems early after purchase increases the business value and reduces the owner’s reliance, which kills many small enterprises.

Acquisitions also make financing more accessible. Lenders and small business programs prefer to back businesses with positive cash flow and an operating history. Banks and community lenders are more willing to finance an acquisition than a speculative startup with SBA guaranteed loans. That means you can leverage debt to buy an asset that produces returns while you grow. Equity investors and partners are also more attracted to businesses with demonstrated revenue and customer traction. Buying a business gives you negotiating power to structure financing in ways that preserve ownership while providing the capital needed to scale.

Franchises deserve special consideration as an acquisition strategy. A reputable franchise offers an established brand, training, supply chains, marketing support, and a playbook that reduces execution risk. Franchisors invest heavily in testing and refining day-to-day operations, so franchisees benefit from proven models. Franchises can be expensive, but there are over 4,000 franchise concepts, so there’s one for every budget. Franchise fees and royalties reduce margin, and corporate rules limit certain decisions. Yet for many people, the tradeoff is worthwhile because the franchise model compresses learning time and provides a community of peers plus centralized marketing that an independent startup would struggle to match.

Buying rather than building also accelerates your path to an eventual exit. When you purchase a business with the intention of building and selling, you can start creating an exit plan from the first day. That means identifying quick wins that increase earnings, reducing owner dependence, cleaning up the financial statements, and documenting processes to make the business attractive to buyers. Owners who keep exit in mind early make different choices about pricing, customer contracts, staff development, and legal housekeeping. Those choices compound into a higher valuation when you decide to sell.

Successful acquisitions do not happen by accident. Due diligence is the most critical phase of any purchase. You must understand the target business’s true financial health. That includes reviewing three years of financial statements, tax returns, customer concentration metrics, margin trends, accounts receivable aging, and recurring revenue and long-term contracts. Ask whether a small number of customers represent a large percentage of sales. If so, plan how to diversify the customer base before a buyer sees the risk. Investigate supplier relationships, lease terms, outstanding legal claims, and employee contracts. Verify that intellectual property and domain ownership are clear. Conduct operational due diligence as well. Spend time on the shop floor or in service delivery. Talk to key employees and, when possible, customers. The goal is to validate that the business can sustain revenue and to identify the immediate improvements that will drive value.

Valuation and price negotiation require both art and science. Sellers often value businesses on emotional metrics or future potential, while buyers focus on current cash flow and risk. Common valuation methods for small businesses include multiples of seller discretionary earnings or EBITDA, discounted cash flow where appropriate, and asset-based approaches for certain holdings. Consider hiring an experienced business broker, valuation expert, M&A advisor, or CPA to help model realistic earnouts and to structure the transaction to reduce exposure. Earnouts are useful when sellers and buyers disagree on future performance. They align incentives so that sellers receive additional compensation for meeting agreed-upon milestones, while buyers limit upfront risk.

Now think about growing the business in advance. Focusing on organic growth through improved sales and marketing is the lowest-risk path. Invest in repeatable lead generation playbooks, nurture sequences, and referral systems. For service businesses, package high-value offerings into programs or retainers that increase average revenue per client and stabilize cash flow. Consider productizing services as workshops, online courses, or subscription offerings to scale delivery. Operational improvements such as tighter inventory management, vendor consolidation, and technology enablement often unlock margin expansion. Strategic acquisitions or franchise buy-ins can also accelerate growth when you have validated your model locally.

Hiring and leadership are also part of the growth equation. To scale, you must create roles that do not require the owner to make decisions. Hire or promote an operations lead to manage daily work, a sales or business development lead to expand the pipeline, and a finance person or outsourced CFO to maintain clean records. Invest in training and create documented procedures to reduce variability. Incentives must align behavior to outcomes.

Preparing for exit is a continuous process. Start by improving governance and legal housekeeping. Formalize contracts with customers and suppliers, ensure employee agreements assign intellectual property, and clean up related party transactions. Keep tidy and transparent financial records that separate owner benefits from business expenses. Remove personal expenses from the company books. Buyers value predictability. Show them recurring revenue, low customer concentration, stable gross margins, and a team that can run the business without the owner. Understand the exit options available to you. Strategic buyers, such as competitors or consolidators, often pay a premium for a business that can give them an advantage. Private equity buyers look for growth potential.

Buying an existing business is not a guarantee of success. You inherit problems as well as strengths, and the seller’s story about why they are leaving may omit critical details. Some businesses fail for reasons that are fixable with better systems, leadership, or capital. Others fail because the market itself is contracting, disruptive competitors have taken key channels, regulatory changes have shifted cost structures, or a core customer has moved their business elsewhere. That distinction determines whether the acquisition is an opportunity or a trap.

Start by expanding due diligence. Assess whether the problems are fixable within a timeframe and budget you can accept. Create a realistic turnaround plan that lists the top five changes to move the needle, assigns owners, and attaches costs and expected impact to each change. Typical high-impact fixes include cleaning up pricing and margins, fixing inventory practices, standardizing delivery processes, strengthening collections, and improving local marketing and lead generation. Estimate the dollars and months required for each fix and build conservative scenarios for how quickly revenue and cash flow will respond. If the sum of required investment, added time, and execution risk exceeds the upside you can reasonably expect, that is a warning sign.

Understand the people risks. Often, the most important asset you acquire is human capital, but key employees may leave at the sale or cause the decline. Identify who is mission-critical and secure retention agreements where feasible. If owner dependency is severe, plan for immediate investments in documentation, cross-training, and interim leadership while you recruit or promote replacements. Factor in the cultural work required to stabilize morale and reengage customers who may have experienced inconsistent service.

Run a seller stress test by modeling worst-case scenarios. What if revenue falls ten percent next quarter or a top customer leaves? How long can the business sustain payroll and rent under that scenario? How quickly can you change suppliers or move pricing? Buyers who model downside cases can negotiate price adjustments, escrow provisions, or seller financing that aligns risk and reward. Earnouts and phased payments are useful tools when the future is uncertain because they tie compensation to performance rather than relying purely on historical statements.

Be ready to walk. One of the biggest mistakes buyers make is falling in love with a number or a location and ignoring red flags. If due diligence reveals a steep market decline, structural regulatory headwinds, or hidden liabilities that cannot be reasonably mitigated, decline the purchase. It is far better to lose a deal than to buy a business that will drain time, money, and energy for years.

If you are not prepared to execute an operational turnaround, I recommend considering a franchise instead. But you should evaluate franchisors with the same rigor as an existing business: study unit economics across mature locations, speak with existing franchisees about actual profitability and corporate support, and carefully review the franchise disclosure document for ongoing obligations and historical termination rates.

In short, buying a business requires a surgeon’s level of diagnostic work and a field general’s readiness to execute fixes quickly. Treat due diligence as a discovery phase and the first 90-day plan as a trial period for your assumptions. When problems are operational and addressable with clear investments and managerial changes, the upside can be substantial. When problems are structural or legal, the smart move is to pass and look for a cleaner opportunity or a franchise with proven systems.

Unlock your next transition with expert Merger and Acquisition consulting support. Whether you are buying, selling, or scaling through strategic acquisitions, our team provides due diligence and negotiation support to help you reduce risk and accelerate value creation. Book a free consultation to discuss your goals and get a custom action plan.

Also consider our First Year CEO program for new business owners. Over 12-months, learn the leadership, systems, and financial routines that turn an acquisition into a predictable cash flow and a sellable asset.

The post Should You Start a Business Right Now? appeared first on Succeed As Your Own Boss.

In this episode, Melinda Emerson welcomes Andrea Palacio to share her journey of purchasing and transforming a business. Andrea discusses the challenges and red flags she encountered post-acquisition and the lessons learned from early struggles. She details her efforts in rebuilding the team and revising the business strategy, including the implementation of AI automation. Andrea updates on the business transition and the current status, and introduces her new venture, Run Crewless, identifying its target audience.

Andrea Palacio bought a struggling landscaping company with a ​500K SBA loan and 12 employees. When traditional solutions failed, she turned to AI and built custom systems that transformed the entire operation. Now she is the CEO of Run Crewless, helping other service businesses implement AI automation. She speaks from experience, not theory. For more information: https://andreapalacio.ai​

Listen to the podcast below:

This week on SmallBizChat Podcast:

• Automating customer service and administrative tasks using AI can significantly reduce the workload and increase efficiency in small businesses.
• Implementing AI solutions requires an initial learning curve and investment but can lead to substantial long-term benefits, including reduced operational costs and regained time for business owners.
• Maintaining a human element to supervise and guide AI systems is crucial to ensure their effectiveness and to maximize productivity gains.

Resources Mentioned:

Online Courses:  https://smallbizladyuniversity.com

Connect with Andrea Palacio:

Website:  https://andreapalacio.ai​
LinkedIn:  https://www.linkedin.com/in/andreapalacio
Instagram:  https://www.instagram.com/andreapalacio
TikTok: https://www.tiktok.com/@ai.andreapalacio
Youtube:  https://www.youtube.com/@ai.andreapalacio

Get More!

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The post The SmallBizChat Podcast: How to Evaluate an Existing Business to Buy with Andrea Palacio appeared first on Succeed As Your Own Boss.

Why Run an Owner Absence Test

Owners who never step away risk two problems. First, the business becomes dependent on a single person’s knowledge and decision-making, which limits growth and drains the owner. Second, anything that makes the owner unavailable, such as illness, family needs, or an acquisition process, can destabilize the company. Running controlled absence experiments gives you evidence rather than assumptions. It helps you prioritize documentation, hire or promote leaders, and measure readiness for scaling or exit.

Designing the Test: Scope and Timeline

The Owner Absence Test has two recommended phases: a two-week test and a more rigorous two-month test. Treat the two-week test as a pilot that validates communication flows and immediate operational continuity. Use the results to strengthen gaps before attempting the two-month test, which simulates a longer, more stressful absence and tests sustainability.

Define what “absent” means. Absence can be a full disconnect where you are unreachable for routine matters, or it can be limited, allowing for emergency contact with a strict escalation protocol. For the two-week pilot, you might allow a daily 30-minute emergency window. For the two-month test, aim for true operational absence with emergency reachability only in predefined scenarios.

Set clear objectives. Typical objectives include the following:

• Maintain revenue and service levels within X percent of baseline.
• Resolve customer issues within agreed SLAs without owner intervention
• Keep payroll and vendor payments on schedule
• No material contract breaches or compliance lapses
• Decision escalation occurs as documented without ad hoc owner sign-offs

Plan the experiment timeline and milestones. Decide your start and end dates, prepare a communications plan, and schedule interim checkpoints at which the leadership team reports progress to a designated interim lead or the board.

Build the Pre-Absence Checklist

Before you step away, prepare the business for the test. This checklist reduces avoidable disruptions and creates a fair test of systems and people.

1. Document critical processes and contacts
   Create concise SOPs for revenue-critical functions: order processing, client onboarding, billing, collections, supply chain handoffs, and support escalation. Include vendor contacts, account numbers, and login procedures stored securely. Ensure at least two employees have access and knowledge.

2. Assign owners and define decision rights
   Designate an interim operations lead and a secondary backup. Define decision thresholds for the team: what can be decided at the manager level, what needs committee approval, and what requires emergency escalation.

3. Prepare financial runway
   Confirm cash flow to cover payroll, rent, and key vendor payments for the test duration. Set up automated payment approvals where possible and provide temporary signatory access to a trusted finance lead.

4. Customer and partner messaging
   Proactively inform key clients and partners that you will be temporarily stepping back and introduce the interim contact. Frame the message as part of a normal business continuity exercise to reassure stakeholders.

5. Create a prioritized issue list
   Compile known risks or projects that require attention and assign them to owners with clear deadlines. This prevents the test from being derailed by avoidable problems that were already known before the absence.

6. Access, security, and delegations
   Ensure credentials are shared securely, that password managers are updated, and that legal delegations or temporary authorities are in place for necessary signoffs.

Operational Rules During Absence

Set the ground rules to ensure the test maintains integrity and produces useful data.

Limit owner intervention. If you allowed an emergency window during planning, strictly enforce it. Encourage the team to document decisions made in your absence and the reasoning behind them. Require daily or every-other-day status updates from the interim lead, but keep them short and factual. Avoid micromanaging from afar.

Use the escalation protocol. The team should follow the predefined escalation path rather than bypassing it to contact you directly. Track every escalation: who raised it, justification, decision made, and outcome.

Measure Key Metrics

Choose a handful of metrics that reflect the company’s health and the owner’s usual responsibilities. Baseline them before the test so you can compare performance.

Suggested metrics to track

• Revenue or sales transactions per day or week
• Number of new leads and lead conversion rate
• Customer satisfaction or support ticket response times
• On-time delivery or service completion rate
• Days sales outstanding and collections activity
• Payroll on-time completion and cash position
• Number and severity of escalations to the owner
• Employee engagement indicators, such as absenteeism or critical staff turnover

Collect qualitative data. Numbers are vital, but narratives from team members, customers, and suppliers reveal subtler issues such as morale, confidence, and customers’ perception of consistency.

Run The Two-Week Pilot and Evaluate It.

Start with the two-week test and keep the scope tight. After each week, hold a structured review with your interim lead and the leadership team. Ask:

• What unexpected issues arose, and how were they handled?
• Which decisions required owner-level input and why?
• Were there processes that failed or were too slow?
• Did customers notice a difference in service or responsiveness?

Document every learning and turn early findings into visible fixes: update SOPs, change access protocols, or reassign responsibilities.

Adapt and Prepare for the Two-Month Test

Use lessons from the pilot to strengthen systems and clarity. The two-month test is more rigorous and will surface issues that the two-week test may miss, such as staff burnout, supplier issues, or cash flow variances.

During the two-month test, maintain weekly dashboards and a biweekly leadership review. Increase the emphasis on medium-term KPIs such as customer churn, backlog health, and recurring revenue consistency. Encourage leaders to run experiments in the owner’s stead so you can evaluate their judgment and execution capability.

Interpreting the Results

Interpretation should be balanced and pragmatic. The absence test does not need perfection to be useful. Look for trends and root causes.

Green outcome. If KPIs hold within acceptable limits, escalations are rare, and the team documents decisions well, the business demonstrates operational resilience. The owner can confidently extend absences and focus on strategic initiatives.

Yellow outcome. If metrics wobble, some processes fail, or the team struggles with certain decisions, you have clear work to do. Use the data to prioritize systems improvement, training, and potential hires. A yellow outcome is progress because it identifies specific gaps to fix.

Red outcome. If revenue declines significantly, customer complaints spike, payroll or legal obligations are missed, or critical knowledge is missing, the business cannot yet run without the owner. The owner must postpone longer absences and invest in core fixes before trying again.

Common Pitfalls and How to Avoid Them

Rushing the experiment. Skipping the two-week pilot and leaping into a long absence often results in predictable failure. Use the pilot to learn fast and iterate.

Undocumented knowledge. Believing that oral handoffs are sufficient is risky. Insist on written SOPs and repository storage.

Owner interference. Frequent check-ins or unplanned interventions invalidate the test. Commit to the rules you set and trust the process.

Neglecting finance. Cash flow surprises are a common source of emergency calls. Automate payments and ensure a finance lead is empowered and trained.

Ignoring culture. If staff feel abandoned or fear punitive responses for decisions, they will hide issues or make conservative choices that harm growth. Communicate trust and support.

How to Act on Results

Treat the absence test as a roadmap. Prioritize fixes that increase knowledge transferability and reduce owner dependency. Typical investments include:

• Hire or promote a COO or operations manager
• Build a clear leadership decision matrix and escalation protocol
• Invest in an LMS or internal wiki to capture SOPs and training
• Implement a dashboard for weekly KPIs and a financial runway report
• Create retention incentives for key employees and documented succession plans

Repeat the test. Operational maturity is iterative. Run the two-week or two-month absence tests every six to twelve months, increasing the length of absence each successful time. Track improvement across tests and celebrate milestones publicly to build team confidence.

Embedding Resilience Into Your Company’s DNA

The Owner Absence Test is a means to an end. The broader goal is to make the business less dependent on any single person by institutionalizing knowledge, distributing authority, and creating predictable processes. When that shift happens, you gain multiple benefits: the ability to sell the business for a higher multiple, room to innovate and pursue growth, and personal freedom without jeopardizing the company you built.

The Owner Absence Test is not an act of abandonment. It is a disciplined, evidence-based approach to building a healthier, more valuable business. Designed and executed with care, it converts fear into a clear plan of action. Start small, measure honestly, fix decisively, and repeat. In doing so, you turn the hypothetical question of whether your business can run without you into a proven reality.

The post The Owner Absence Test: Can Your Business Run Without You? appeared first on Succeed As Your Own Boss.

Milton Hunt is an HR expert, motivational speaker, and employee training specialist who brings real-world experience to help workplaces function better. A proud Native American and member of the Lumbee Tribe, he blends cultural insight with proven strategies to inspire, develop, and transform teams. Known as an engaging “edu-tainer,” he delivers powerful, practical ideas to corporate, government, and private-sector organizations. For more info, https://www.MiltonHunt.net

Sharif J. Small is a Tax Wealth Strategist, Fractional CFO, Real Estate Developer and Investor, and M&A Business Advisor with more than 20 years of experience leading a tax accounting, real estate development, and business mergers and acquisitions advisory practice. Sharif is passionate about helping small, minority, and veteran-owned businesses start, grow, and successfully acquire and scale companies. His mission is to empower entrepreneurs to build generational wealth, achieve financial freedom, and leave a legacy through sound financial strategy, ownership, and investment. For more information, go to https://www.sjsfinancialfirm.com

Lorraine Marchand is a seasoned executive, leadership expert, and author of No Fear, No Failure, Five Principles for Maintaining Growth Through Innovation. With decades of experience leading high-performing teams and driving innovation in complex organizations, she is known for helping leaders embrace change, overcome fear, and lead with confidence. Lorraine’s work blends practical leadership strategies with real-world experience, empowering professionals to make bold decisions, build resilient teams, and achieve meaningful results in today’s fast-changing business environment. For more information, visit https://www.lorrainemarchand.com

Listen to the podcast below:

Podcasts Mentioned: 

• Earn Your Leisure
• Life First Accounting
• SmallBizChat Podcast
• Women’s Work
• Women’s Leadership

Apps Mentioned:

• ChatGPT
• LinkedIn
• iXpenseIt

Old School Marketing Tips: 

• Even if it’s your service or book, whatever it is you’re doing, the 4 Ps would stand the test of time.
• TOMA – top of mind awareness. When people understand who you are and remember who you are -you’re there and you’re present – they will buy from you.
• Do In-Person workshops, because you make the instant connection.

Books Mentioned:

• How to Win Friends and Influence People by Dale Carnegie
• The Innovation Mindset by Lorraine Marchand
• No Fear, No Failure by Lorraine Marchand
• Traction by Gino Wickham
• Why Should White Guys Have All The Fun by Reginald Lewis and Blair Walker
• 10x is Easier than 2x by Dan Sullivan

Connect with Milton Hunt:

Website: https://www.MiltonHunt.net
LinkedIn: https://www.linkedin.com/in/milton-hunt-3aa39816
Twitter: https://twitter.com/miltonhunt
Facebook: https://www.facebook.com/Hunt-International-2066629953431865
Instagram: https://www.instagram.com/milton.hunt
Youtube: http://www.youtube.com/user/HuntInternational/videos

Connect with Sharif J. Small:

Website: https://www.sjsfinancialfirm.com
LinkedIn: https://www.linkedin.com/in/sjsfinancial

Connect with Lorraine Marchand:

Website: https://www.lorrainemarchand.com
LinkedIn: https://www.linkedin.com/in/lorrainemarchand

Get More!

Want to hear more episodes of The SmallBizChat Podcast? Subscribe on your favorite platform so you never miss an episode!

The post The SmallBizChat Podcast: Hit It and Quit It with Milton Hunt, Sharif Small and Lorraine Marchand appeared first on Succeed As Your Own Boss.

Time is your hidden cost. A market-ready, high-quality book rarely happens overnight. Expect a disciplined process that can take nine to eighteen months from initial concept to launch. Begin with idea validation and positioning: test your concept with your network, gauge interest, and craft a working subtitle and a one-page positioning statement. Whether you pursue a traditional deal or self-publish, a rigorous outline and sample content are non-negotiable. Many professionals find a 90-day sprint helpful to produce a full first draft, followed by staged editing cycles that move the manuscript from raw material to polished product.

Editing is where manuscripts become books. Start with a developmental editor or experienced book coach who will focus on structure, argument flow, pacing, and the reader journey. That big-picture work has the highest impact. Skipping it leaves you with a readable draft that lacks market traction. After developmental edits, move to substantive rewrites to tighten transitions and strengthen examples. Then invest in line editing for sentence clarity and rhythm, followed by copyediting for grammar and consistency and, finally, proofreading to catch layout issues before printing or final eBook upload. Budget for each stage and choose editors with experience in nonfiction and business books. The better the editorial team, the more likely your book will land with clarity and authority.

Choose your publishing path early because it affects the timeline, costs, and control. Self-publishing offers speed, control over the cover and pricing, and higher per-unit royalties, but it requires you to fund editing, design, printing, and marketing. You retain full control over production and distribution choices, which is ideal if you already have a direct marketing engine such as an email list, a client base, or recurring speaking opportunities. Traditional publishing provides editorial expertise, production, and distribution channels, along with credibility from an established imprint. A traditional publisher can open doors to bookstores, library placements, and some media outlets, but the tradeoffs include longer lead times, lower royalties, and less control over final cover and pricing decisions.

For coaches and consultants who already have an audience and a direct pipeline to buyers in the form of clients, cohorts, or corporate partners, self-publishing often makes strategic sense. It lets you move quickly, iterate on offers tied to the book, and capture higher margins. For authors who need trade-catalog reach, a major advance, or strong editorial endorsement to break into large media opportunities, pursuing a traditional deal may be the right path. Neither option is inherently superior. Align the choice with your business model and how the book will drive revenue for your services.

If you pursue traditional publishing, you will likely need an agent. An agent performs several functions. They evaluate whether your proposal is marketable; refine the pitch to editors, submit your proposal to the right editors at the right houses; and negotiate contract terms, including advances, royalties, subsidiary rights, and delivery schedules. Agents typically take a commission ranging from 15% of the advance to subsequent royalties. To attract representation, prepare a polished book proposal that includes a working title and subtitle, a clear one-page positioning statement, an author bio that highlights measurable credibility, platform metrics such as email list size and speaking history, a competitive title analysis, a market section that explains who will buy the book, a chapter-by-chapter outline, and a sample chapter. If you have any endorsements or preliminary media placements, include them. Queries should be personalized and targeted to agents who represent business, leadership, or practical nonfiction. Expect response windows of six to twelve weeks.

Understanding advances and what they mean is critical for authors evaluating a traditional offer. An advance is an upfront payment against future royalties. Advances vary widely depending on the publisher, the author platform, the topic, and perceived market demand. For business books by known experts, advances might range from modest four-figure sums to six-figure deals for authors with national platforms or proven enterprise sales potential. Many first-time authors receive advances in the low to mid-five-figure range or lower. Advances are not free money. They are recoupable. The publisher pays the advance, and then royalties on sales go to the author only after the advance has been earned out through book sales. If the book never earns out, the author does not have to repay the unearned portion of the advance, but the publisher may be less inclined to invest in follow-up promotion.

Negotiating advances and contract terms benefits from an informed agent and a sense of realistic expectations. Ask about subsidiary rights, such as audio, foreign-language, and product rights. Clarify the publisher’s marketing and publicity commitments. Many authors assume a publisher will handle all promotion. In reality, authors are expected to drive preorders and do much of the marketing. Publishers provide access, distribution channels, and editorial expertise, but the most successful business authors treat the publisher as a partner and aggressively execute their own launch engine.

Writing the book is only half the battle; a book is also a sales and marketing asset, not just an authority credential. You must build a plan to sell your book well in advance. It should feed your business. Use sample chapters as lead magnets. Build online courses and group coaching cohorts, line up corporate bulk sales, and create a speaking prop that justifies higher fees. Prioritize direct channels where you control the customer relationship, such as your email list, client database, and speaking engagements. Offer preorder incentives, launch team rewards, and a dedicated landing page that turns buyers into prospects for higher-ticket offers. Repurpose chapters into workshops, articles, podcasts, and social content to extend the book’s reach and return on investment. Think in terms of funnels. A buyer of your book should be one click away from a webinar, a one-page diagnostic, or a low-cost workshop that brings them into your paid ecosystem.

Marketing a book well often requires paid expertise. If you want meaningful earned media, podcast placements, and speaking opportunities, consider hiring a publicist for a minimum six-month engagement. A good publicist crafts pitches, secures interviews and features, manages advance reader copies, and coordinates thought leadership placements. Boutique publicists typically charge between $4,000 and $7,000 per month, depending on experience and scope. This is an investment that can accelerate visibility, but it is not a guarantee. PR amplifies a strong message, platform, and timely hook. Publicity outcomes should be measured by the quality and quantity of media placements, podcast and speaking invitations, spikes in website traffic and leads driven to your landing page, and direct sales attributable to PR activity.

Budget realistically for every stage of the production and launch process. Editing, design, production, printing, advance reader copies, publicity, and paid ads add up. Expect to invest at least several thousand dollars in high-quality editing and design. If you pursue an intentional PR and launch campaign plan, it will cost tens of thousands of dollars, depending on your ambitions. Model ROI conservatively. Estimate books sold, conversion rate from buyer to client, and average lifetime value of a client. Even modest conversions, such as five retained clients or twenty cohort enrollments driven by book sales, can quickly justify production and marketing costs.

Practical next steps shorten the path from idea to impact. Validate your topic with ten to twenty conversations and a short survey of your audience. Draft a one-page positioning statement and produce a sample chapter. Decide whether self-publishing or pursuing an agent best serves your business goals. Budget for high-impact edits and professional cover design. Build a six-month marketing plan and decide on PR investment aligned to your goals. Finally, map a content funnel that turns readers into clients through webinars, free resources, and clear calls to action.

A book is not merely a publication. It is a strategic product launch and a long-term asset for authority and revenue. When you plan like a publisher by aligning purpose, editorial rigor, publishing path, and marketing investment, you increase the chance that your book will do more than look good on a shelf. It will become a dependable engine for growth, credibility, and business opportunities. If you would like help drafting a book proposal or a 90-day writing and launch roadmap tailored to your goals, I can create one with timelines, budget scenarios, and a PR plan designed for coaches and consultants.

The post Why Coaches, Consultants, and Speakers Should Think Like Publishers Before Writing a Book appeared first on Succeed As Your Own Boss.

In this episode, Melinda Emerson is joined by Lorraine Marchand to discuss overcoming fear in business, inspired by Lorraine’s book. They address the fear of failure in innovation and Lorraine shares her personal experiences with fear in business. The conversation explores the concept and benefits of fearlessness in decision-making and how fear can impact business strategies. Lorraine introduces the five Cs as a method to overcome fear, offering practical strategies for small business owners to conquer their fears and make confident business decisions.

Lorraine Marchand is a seasoned executive, leadership expert, and author of No Fear, No Failure, Five Principles for Maintaining Growth Through Innovation. With decades of experience leading high-performing teams and driving innovation in complex organizations, she is known for helping leaders embrace change, overcome fear, and lead with confidence. Lorraine’s work blends practical leadership strategies with real-world experience, empowering professionals to make bold decisions, build resilient teams, and achieve meaningful results in today’s fast-changing business environment. For more information, visit www.lorrainemarchand.com

Listen to the podcast below:

This week on SmallBizChat Podcast:

• Embracing a culture of experimentation and learning can help overcome the fear of failure in both corporate and small business environments.
• Leaders should focus on asking the right questions and surrounding themselves with smart people to foster innovation and strategic growth.
• Creating psychological safety and prioritizing people over metrics can lead to better results and more fulfilling leadership.

Resources Mentioned:

Online Courses:  https://smallbizladyuniversity.com

Connect with Lorraine Marchand:

Website: https://www.lorrainemarchand.com
LinkedIn: https://www.linkedin.com/in/lorrainemarchand

Get More!

Want to hear more episodes of The SmallBiz Chat Podcast? Subscribe on your favorite platform so you never miss an episode!

​

The post The SmallBizChat Podcast: How to Run a Business Without Fear with Lorraine Marchand appeared first on Succeed As Your Own Boss.

Costs are up across the board. Digital ads are more expensive. Competition is louder. Customers are more distracted and more selective about where they spend their money. That means the old strategy of “just spend more on ads to make more” is not only outdated but also dangerous.

The businesses that are winning right now are not necessarily the ones with the biggest budgets. They are the ones operating with the most discipline. They understand one simple truth that too many business owners overlook. You don’t need more leads. You need to do more with the leads you already have.

Let’s start with the biggest revenue leak in small businesses: follow-up. Most sales do not happen on the first interaction. They happen after multiple touchpoints. Sometimes it takes seven, even thirty, interactions before a customer is ready to buy. But most business owners give up after one or two attempts. They send a single email, maybe make one call, and when they don’t get an immediate response, they move on.

That’s not a strategy. That’s leaving money on the table. You need a follow-up system that works whether you feel like following up or not. Every lead that expresses interest should enter a structured process. That process should include a combination of emails, text messages, phone calls, reminders, and value-driven content that keeps your business top of mind. Because here’s what you have to understand. People don’t always say no. Sometimes they say not yet.

They’re not uninterested; they are busy. They’re distracted. They’re evaluating options. They’re waiting for the right timing. And if you disappear after one attempt, you lose the opportunity to convert them later. The business that follows up consistently is the business that wins.

And this doesn’t have to be complicated. You can create a simple follow-up sequence that runs over 10 to 14 days. The first message might be a thank-you and a reminder about your offer. The second could share a client success story. The third might answer a common objection. The fourth could be a direct call to action. Each touchpoint builds familiarity, trust, and urgency.

Now let’s talk about email marketing, because this is where you can dramatically increase sales without spending another dollar on ads. You already have an email list. The question is whether you’re using it strategically or ignoring it until you need something. Too many business owners only send emails when they want to promote a product or service. That creates a transactional relationship, not a trusting one. And when every message feels like a sales pitch, people stop paying attention, and worse, unsubscribe.

Your email list should be one of your most valuable assets. It’s a direct line to your audience. It’s real estate you own. And it’s one of the most effective ways to nurture relationships over time.

You should be communicating consistently, not just when you have something to sell. A weekly or monthly newsletter is a great start. Share insights that help your audience solve real problems. Tell stories that illustrate your expertise. Offer tips that they can implement immediately. Show them that you understand their challenges and have solutions that work. When you do this consistently, something powerful happens. You stop chasing customers, and they start coming to you.

And when you finally present an offer, it doesn’t feel like a surprise or a push. It feels like the natural next step in a relationship that has already been built. When you really do your marketing correctly, your customer asks you for a pitch. When they ask for your help, that’s when they are almost ready to close.

Now let’s shift to one of the most overlooked growth strategies in small business: referrals. Your best customers already trust you. They’ve experienced your product or service. They’ve seen the results. And chances are, they know other people who need exactly what you offer. But most business owners never ask for referrals. They assume that if customers are happy, they’ll naturally spread the word. And while that does happen occasionally, it’s not a reliable growth strategy.

You need to be intentional about it.

After delivering a great result, that is your moment. That is when the value is fresh, and the experience is top of mind. That is when you ask. You don’t need to overcomplicate it. A simple, direct question works. “Who else do you know that could benefit from this?” Or, “If you know someone dealing with this challenge, I’d be happy to help them too.”

You can also build a simple referral program that rewards customers for making introductions. It doesn’t have to be elaborate. A small incentive, a discount, or even a thoughtful thank-you can go a long way. The key is consistency. Referrals should not be an afterthought. They should be part of your process.

Now let’s zoom out and look at the bigger picture. Efficiency in business is about maximizing what you already have before you go out and try to get more. More leads without a follow-up system are wasted money. More traffic without a conversion strategy is wasted effort. More ads without a clear message are just noise.

And this is where many businesses get stuck. They keep pouring money into top-of-funnel brand awareness strategies without fixing what’s happening in the middle and at the bottom. If your conversion rate is low, more leads won’t solve your problem. It will just make your inefficiencies more expensive. Instead, focus on improving your conversion process. Look at your offer. Strengthen your messaging so it clearly communicates the value of what you offer. Look at your follow-up systems so opportunities don’t slip away. Make it easier for customers to say yes by removing friction from your sales process.

When you break down your sales process, something powerful happens. Your existing leads become more valuable. Your marketing becomes more effective. And your revenue starts to grow without a corresponding increase in spending. This is how you build a sustainable business.

It’s not about chasing every new tactic or platform. It’s about mastering the fundamentals. Lead generation. Having a strong value proposition. Follow-up. Relationship building. Clear messaging. Consistent communication.

These are not new ideas. But they are the ones that work. And in a high-cost economy, discipline beats spending dollars every time. So, before you increase your ad budget, take a hard look at your sales systems.

• Do you have lead magnets?
• Are you demonstrating thought leadership?
• Do you have effective landing pages?
• Do you have sales funnels?
• Are you using a CRM?
• Is your offer effective?
• Do you have a strong value proposition?
• Do you have follow-up systems that convert?
• Are you handling objections?
• Do you have strong salespeople?
• Have you established KPIs?
• Are you using email marketing?
• Are you actively generating referrals?

If the answer is no, that’s where your opportunity is. We teach this and a whole lot more about closing in the Sales Accelerator Bootcamp; our Summer Cohort starts in June.  Click here to book a call to discuss the program.

Business growth doesn’t always come from doing more; it comes from doing better. And right now, the businesses that win are the ones converting the most. If your sales results are not what you need them to be, we are happy to help you get them going in the right direction.

The post Sell More Without Spending More on Ads appeared first on Succeed As Your Own Boss.

In this episode, Melinda Emerson explores the intricacies of selling a business, starting with the impact of positive reviews and word of mouth. She discusses the importance of mergers and acquisitions in building a lasting enterprise and outlines crucial questions to ask before selling. Melinda emphasizes the need for a well-planned exit timeline and setting financial goals. She delves into sale price considerations, earnouts, and ensuring operational independence. The episode also covers maintaining accurate financials, creating diversified revenue streams, and evaluating company culture and leadership. Melinda concludes with legal housekeeping and preparing for due diligence.

Listen to the podcast below:

This week on SmallBizChat Podcast:

• Ensure your business can operate independently of you by delegating responsibilities and establishing a strong leadership team.
• Maintain clean, accurate, and compelling financial records, ideally with audited statements, to attract potential buyers and secure a higher valuation.
• Diversify your revenue streams and customer base to reduce risk and enhance the attractiveness of your business to prospective buyers.

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The post The SmallBizChat Podcast: What You Need To Know If You Want To Sell Your Business with Melinda Emerson appeared first on Succeed As Your Own Boss.

National Small Business Week began in 1963 when President John F. Kennedy proclaimed it to recognize the contributions of small businesses to America’s economic success. Today, the observance is coordinated by the U.S. Small Business Administration (SBA) and supported by a wide network of partners, statewide small business development centers (SBDCs), SCORE chapters, Women’s Business Centers (WBCs), local chambers of commerce, Fortune 500 companies, and nonprofit organizations. The week includes national SBA awards, webinars, panel discussions, business networking events, and promotional campaigns that highlight products and services for small business owners and community development driven by small firms.

Small businesses matter to the American economy for reasons that extend beyond basic commerce. Their significance can be seen in several concrete ways:

• Job creation: Small businesses generate a large proportion of new jobs in the economy. Growing small firms are critical engines of employment, particularly in local economies where they’re often the largest or most dynamic employers.
• Innovation: Many breakthroughs and disruptive ideas begin in small ventures. Entrepreneurs are nimble and can experiment with new products, services, and business models that larger companies may adopt more slowly.
• Economic diversity and resilience: A diverse ecosystem of small businesses helps insulate communities from shocks tied to a single industry. Local shops, independent service providers, and home-based businesses keep dollars circulating within communities.
• Community character: Small businesses foster vibrant neighborhoods and distinct local identities. They sponsor community events, support civic causes, and create gathering spaces that strengthen social ties.
• Supply chain contributions: Small firms are essential suppliers and vendors for larger companies. Their participation helps maintain flexible, responsive supply chains.
• Access and opportunity: Entrepreneurship offers pathways to economic opportunity for people across backgrounds, including women-owned, veteran-owned, minority-owned, and immigrant-led enterprises.

Small businesses occupy a central role in employment, innovation, and community life. National Small Business Week is a chance for us to be acknowledged for our contributions and provide tools for continued growth.

The Week events often focus on practical priorities for small business owners:

• Access to capital and funding strategies
• Digital transformation with AI
• eCommerce best practices
• Customer acquisition on tight budgets
• Workforce development, hiring, and retention
• Exporting and growth into international markets
• Legal and tax compliance
• Disaster preparedness and business continuity

These workshops and sessions highlight low-cost or no-cost resources available through federal and nonprofit partners, helping entrepreneurs translate ideas into sustainable operations.

How to Make the Most of This Week

• Attend webinars and events: On Tuesday, May 5th, at 6 pm ET, I’m hosting a FREE webinar, How to Hire a Salesperson, and learn exactly what it takes to find someone who can actually close deals. Register here.
• Many organizations are hosting free online sessions covering practical topics throughout this entire month; watch your email for details.

Boss Tip: Follow up with speakers and presenters after their sessions on LinkedIn.

• Secure free one-on-one counseling through SCORE, SBDCs, or the SBA for customized business planning help.
• Use social media to learn about virtual or in-person networking events to connect with peers, potential partners, and customers
• Give your online presence a facelift by securing your Google My Business listing.
• Promote your business: Use the week to run a local promotion, collaborate with neighboring businesses, or showcase your story on your website and social channels.
• Nominate or apply: If eligible, consider applying for or nominating a standout business for local or national awards that spotlight business success and innovation.

Commit to applying at least three of these actionable takeaways.

Free Online Events to Attend During National Small Business Week (May 3–9)

Many organizations host free online events during National Small Business Week. Below are a few reliable types of events and recurring hosts to check for free sessions and resources. Because specific event schedules vary year to year, visit the linked organizations’ event pages during the week for up-to-date schedules and registration.

U.S. Small Business Administration (SBA) — National Small Business Week main events webpage sba.gov/nsbw for the official event calendar.

SCORE webinars: SCORE provides practical, veteran-led advice and often runs workshops tailored to startups and small operators.  score.org/events

Small Business Development Centers (SBDCs) are hosting regional workshops on financing, sales strategies, government contracting, and digital marketing; they also offer free counseling appointments. Check americassbdc.org to find your local SBDC’s office.

Check local banks or industry-specific webinars from platforms like Shopify, PayPal, and Square for events. Check: Shopify Learn, PayPal’s event pages, or Square’s event sections on their websites.

Don’t forget the local nonprofit organizations (e.g., Women’s Business Centers, World Trade Centers, Veteran Business Outreach, Minority business associations, CDFIs for local events this month.)

Practical Tips for Getting Value from Free Events

Register early: Free events can fill quickly; register to secure a spot and receive follow-up materials.

Prepare questions: Draft specific questions about your business to ask during Q&A or mentor sessions.

Bring marketing materials: have a simple one-pager and/or a capability statement about your business ready to hand out.

Follow-up: Connect with presenters, mentors, and other attendees via LinkedIn or email, and set clear next steps.

Apply and iterate: Implement one small change immediately (e.g., update your bio or social media profiles online, or set up a basic CRM template) and measure the results.

National Small Business Week is a chance to celebrate your small business and how you contribute to making your community unique. Share your stories on social media, host a customer appreciation event, or participate in local promotions. These actions help sustain momentum and demonstrate how shopping small supports the broader economic health of the entire economy. Whether you’re launching a new venture or scaling an established business, use this week to gather resources, ask for help, and convert what you learn into concrete, achievable goals. As a small business owner, you are vital to America’s economy, and this week is dedicated to helping you thrive. Take full advantage of it.

The post National Small Business Week: Celebrating the Heart of America appeared first on Succeed As Your Own Boss.

In this episode, Melinda Emerson welcomes Sharif Small to discuss essential growth strategies for small business owners. They explore the significance of financial planning and efficient systems, highlighting common areas where entrepreneurs may be missing out on potential income. The conversation shifts to building generational wealth and effective tax strategies for safeguarding and increasing profits. Sharif also elaborates on the benefits of employing a fractional CFO.  Sponsored by Zoho One.

Sharif J. Small is a Tax Wealth Strategist, Fractional CFO, Real Estate Developer and Investor, and M&A Business Advisor with more than 20 years of experience leading a tax accounting, real estate development, and business mergers and acquisitions advisory practice. Sharif is passionate about helping small, minority, and veteran-owned businesses start, grow, and successfully acquire and scale companies. His mission is to empower entrepreneurs to build generational wealth, achieve financial freedom, and leave a legacy through sound financial strategy, ownership, and investment. For more information, go to www.sjsfinancialfirm.com

Listen to the podcast below:

This week on SmallBizChat Podcast:

• Ensure your financial house is in order by maintaining a solid bookkeeping system, budgeting, and building good credit.
• Consider acquiring existing businesses, especially those with buildings, to leverage collateral and create multiple income streams.
• Engage in proactive tax planning throughout the year to minimize tax liabilities and protect your business assets

Resources Mentioned:

Online Courses:  https://smallbizladyuniversity.com

Connect with Sharif J. Small:

Website:  https://www.sjsfinancialfirm.com
LinkedIn: https://www.linkedin.com/in/sjsfinancial

Get More!

Want to hear more episodes of The SmallBiz Chat Podcast? Subscribe on your favorite platform so you never miss an episode!

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The post The SmallBizChat Podcast: How to Grow a Business Right Now with Sharif J. Small appeared first on Succeed As Your Own Boss.