12/13/2021 Tip: How Replicable Is Your Business?

Today’s Quote

“Put your heart, mind, intellect and soul even to your smallest acts. This is the secret of success.”
~ Swami Sivananda

 

Today’s Tip

When corporations consider buying a business, they make a “build” or “buy” decision. That is, they ask whether the time and money it would take to build a similar business from scratch is greater than the cost to buy the business from you now.

As such, the more unique and less replicable your business is, the better. So think about how replicable your business is. For example, could another company easily replicate your products or services? Could they easily hire and train a team as good as yours? Would it be simple for them to build a customer base like yours?

Answer these questions honestly and focus on building a profitable AND harder-to-replicate business going forward.

 

Today’s Resource

How to Build a $10 Million+ Company in 2022

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company in 2022 <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company in 2022 <—- 

 

Trivia

Today’s Question: Why does the Ivory Bar Soap float?

Previous Question: In 1933, how much did a night’s stay in a double room cost at the famous Waldorf Astoria Hotel in New York City?

Previous Answer:  In 1933, a double room cost $9.00; a single room, $6; a suite, $20.00. 

The Waldorf-Astoria Hotel is a luxury hotel in New York City that has been housed in two historic landmark buildings in New York. 

The first, designed by architect Henry J. Hardenbergh, was on the Fifth Avenue site of the Empire State Building. 

The present building at 301 Park Avenue in Manhattan is a 47-story, Art Deco landmark, designed by architects Schultze and Weaver and dates back to 1931. 

The hotel was fully renovated to its original grandeur during the mid-1980s through the mid-1990s.

 

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