If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your ...
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel?
As anyone knows who's tried to fly United when O’Hare Airport has been hit by a snowstorm, a hub-and-spoke model is only as strong as the hub. The moment the hub is overwhelmed, the entire system fails.
Acquirers generally avoid hub-and-spoke managed businesses because they understand the dangers of buying a company too dependent on the owner. So this week, Chip reveals the nine warning signs you’re a hub-and-spoke owner. We'll also discuss suggestions for pulling yourself out of the middle of your business.
Did you know you can follow The Entrepreneur's Accountant on Instagram for bonus content and tips to grow your business, and join our community on Facebook?
And, if you're enjoying this podcast, please leave a review on Apple Podcasts or rate us on Spotify. This podcast is for the entrepreneur community, and each review increases to possibility that this podcast can be seen by people in our community.
Disclaimer: This podcast and related materials are designed only to provide general information regarding the subject matter discussed during the podcast episodes. The statutes, authorities, and other laws cited in this podcast are subject to change. This podcast and related materials are not intended to provide tax, accounting, legal, or other professional advice to any specific person or entity. Any advice or opinion regarding the application of the subject matter for a specific person or entity should be provided by a competent professional advisor based on an application of the appropriate law and authorities to the facts and circumstances applicable to that person or entity.