Episode 94 – Ron Kleier: Old School Tactics That Still Work

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On this Apex Business Advisors podcast episode, Andy and Doug are joined by Ron Kleier. Ron is a veteran broker joining us to share his road to success, industry-specific expertise, and share the best casinos to visit when driving through rural Oklahoma.

Can’t get enough of Andy and Doug? Head on over to our friends at the Small Business Miracles podcast to hear their guest appearance

Ready to start the conversation? Get in touch for a FREE consultation. The best way to learn about us is at our website, which includes connecting with Doug, Andy, or the rest of the Apex Team.

Should You Hire a Marketing Agency?

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Should You Hire a Marketing Agency?No matter how small or large a business may be when starting up, it will always face the question of how to get more awareness for its brand. Most companies lack substantial marketing or advertising budgets to begin with. They find their customers in the most organic way possible through one-to-one outreach. What happens when that route has grown stagnant?

That is when the business owner typically considers paying others to market and advertise for them. With that option comes many questions that can lead to paralysis by analysis. After all, there are a lot of aspects to consider when defining the approach your company will take to reach its next level of growth, including what its value may be currently and what its potential value may be with the correct marketing approach.

Word of Mouth or Word of Agency

When you are ready to spend money on additional advertising, you will look for the most impactful method available. You will find yourself questioning what your best options are for achieving customer growth.

You can continue to pursue sales the same way you have been and redirect any marketing stipends toward product improvements or infrastructure enhancement. After all, your business has reached its current level with only your hard work since you are far from being an absentee owner. Word of mouth has been your marketing approach so far, which has worked. Can a marketing agency make that much of a difference? Well, that depends.

The first question you will ask yourself is if your target customers are in a very narrow or niche market. Will they only respond to a very technically savvy or experienced approach? If your answer is yes then you can continue growing your business through a self-directed approach. For example, you can attempt to gain traction through organic advertising on social media sites. However, only two to five percent of your fans on a site like Facebook will see your posts in their feed unless you spend money with the host to advertise. That is where a marketing agency can be very useful for a business with a narrow market. They can keep you from wasting your money on low-impact pursuits and instead leverage your cash for higher-cost but more impactful advertising.

Ready To Hire

After evaluating your market and realizing that you need to gain new customers and not just repeat customers, you decide to move forward with getting some outside marketing help. A common question for small business owners at this point is at what level of revenue they should hire a marketing agency. Again, it depends. The cost of hiring an agency can vary from thousands of dollars to millions of dollars. You will need to evaluate what it is exactly you require so that you can get an idea of the cost.

The thing to remember when evaluating the need for hiring an agency is if you are looking for targeted areas of advertising or if you require a more holistic pursuit of marketing your business. As your need for more variety grows, so will the potential benefits of an agency.

Best Avenues

Marketing is a scheduled activity that you plan for that is repeatable. If that planned activity is for paid search or SEO, finding an expert in that specific discipline will be more advantageous. You can spend more money on a singular targeted area with an expert than you would be spending for an umbrella of marketing services that you would find from an agency. The downside of choosing a specialist is that you won’t know how effective your advertising budget could be if spent on other approaches.

Another option is to find someone who is very skilled in multiple disciplines of advertising and hire them as an employee. That allows you to have your marketing handled in-house, with all the benefits of having them as an employee. These types of candidates can be difficult to find, however, as it takes years of experience and a gifted person to excel in multiple marketing skill sets. Even then, they are likely to be proficient in all areas of advertising. You will also have the added concern of them being poached by other companies, leaving all of your marketing pursuits unattended.

A final option for bringing in marketing help is to go with an agency that will typically have top-level talent in each area of advertising method. You will likely pay more for these services, but you can utilize their expertise in multiple campaign directions at a single package price.

Deciding how to proceed in improving your company’s reach is not an easy task. Knowing your growth goals and your available budget for hiring assistance to achieve those goals is critical to making the correct decision.

If you want to know some names of agencies we trust to help with your digital marketing, give us a call.

How LinkedIn Can Help Your Business

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How LinkedIn Can Help Your BusinessThe small business owners of today must wear many hats. Even with the introduction of AI technology and an abundance of options for virtual personal assistants, the day still has more tasks than time. So why should you add LinkedIn activity to your daily calendar?

All small business owners should be active on LinkedIn because no one has done more for their business to grow and get to where it is than the owners themselves. They have made the connections, pursued the clients, and delivered the products. They have done all of the hard work already. Letting all that hard work and goodwill wither because of a lack of regular communication is bad for business.

The key to accepting what LinkedIn offers to a business is understanding that it isn’t just another task or to-do item. Posting on LinkedIn is a way to say hello to your friends and colleagues. Posting updates is a way to remind everyone of the services and products you offer and make relationships through connecting personally and on a business level.

Planning

The great news about engaging in LinkedIn is that it doesn’t take much time. The key is to plan and develop a content posting plan that uses singular content for multiple platforms or posts. For example, if you prefer to make a video instead of writing out a blog post, you can host that video on YouTube and your business website. You can then share those links on LinkedIn. After two to three business days, make a follow-up post for your connections that may have missed the original.

Once you develop a content plan, you can identify how much time per day or week should be devoted to LinkedIn and realize that the value of the additional eyes on your content far outweighs the time spent posting. In addition to your weekly content, spend five to ten minutes each day reaching out to your connections and commenting on their posts. Ensure that if any of your content may apply to their posts, you share it with them. That is a great way to get additional viewers and invite new connections for your small business.

Creativity

Many small business owners enjoy the black-and-white of business operations but shy away from the creative aspects of building a business. So, the idea of creating content for LinkedIn can be daunting. What must be realized is that the purpose of content creation for LinkedIn is the act of simply saying hello to your customers and friends. You are using your voice to remind them of your services and your products. If you have a good business then you will have happy customers. So think of content creation as reminding those customers that you have provided something that helped them. This will spur them to re-use your services and share their positive experience with others.

The real focus of content creation is providing something to the reader or viewer that resonates with them. If you want to tell a story of a big win for your business, make sure that the story is structured to provide enough detail to engage the reader without providing too much or too little information that may lose the reader’s attention. If you want to get very creative and add top-notch videography or music then feel free to do so. However, make sure that you don’t lose the message in the details.

Execution

Now that you have your content creation plan and style identified, all that is left is to execute your strategy. This is where daily activity pays dividends. For a small business owner, a once-per-week posting is probably too sparse. Ideally, you are going to want to post updates two to three times per week but engage with your connections daily.

Also, feel free to add your personal life to your posts. You don’t have to stick to only business-focused updates because that squanders any sort of personal relationship you may have with your connections. You are hoping to build connections. Sharing some of your personal life, such as hobbies or interests or even things you are proud of, is an ideal opening to build rapport and find commonality. Providing a personal touch to a story makes you memorable and relatable. The business-related topics you discuss provide value. Combine the two and you become memorable as a person of value to your readers.

Remembering that LinkedIn is just another approach to marketing for your small business is the key to understanding the advantageous ratio of exposure to time invested. People who you have a relationship with want to send you business. Staying top of mind with them through LinkedIn posts helps create those opportunities. Make LinkedIn use easy for yourself by planning your approach, making your content relatable and memorable, and then executing your strategy with regularity. If you can adopt this approach, LinkedIn will be the new tool for your business that helps it to excel.

Need help with LinkedIn strategy for your business? We know people who can help. Give us a call.

Episode 93 – Which Valuation Report is Right for Me?

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On this episode of the Apex Business Advisors Podcast Andy and Doug discuss the three different types of Valuations. They discuss the purpose of the the reports and when it is appropriate to use a Certified Valuation, Standard Valuation, and Broker’s Opinion of Value. Interested in learning more about what your business is worth? Email us at  for a free broker’s opinion of value. We need your Business Name, your name, and email for one of our brokers to send you a secure link to upload the necessary documents.

Ready to start the conversation? Get in touch for a FREE consultation. The best way to learn about us is at our website, which includes connecting with Doug, Andy, or the rest of the Apex Team.

Case Study #80: A Bootstrapped 8-Figure Exit

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Case Study #80: A Bootstrapped 8-Figure ExitAs a refugee during the Gulf War, entrepreneur Lloyed Lobo has faced challenges that shaped his perspective on community and support. The values instilled by his family and early life experiences left a lasting impression on his approach to both business and life.

Lloyed cofounded a software application called Boast AI that’s designed to simplify the process of applying for R&D tax credits. After bootstrapping their first few years, Lloyed and his partner sold the majority of the business for a cool $23 million.

The journey from bootstrapping to an eight-figure exit was filled with the highs and lows familiar to every startup founder. Let’s take a closer look.

The Power of Growth Equity

For Lloyed and his co-founder, taking the leap with growth equity meant making a commitment to the company’s future. With this decision, they moved forward on a path to grow and expand while taking on the associated risks.

Growth equity is a crucial factor in scaling any startup. It provides the necessary capital and support to accelerate growth. This phase often involves investors taking a significant stake in the company, which can lead to a shift in the dynamics of decision-making and company culture.

The Turning Point

As more time went on, Lloyed realized that he was no longer aligned with the company’s direction. As the business shifted towards a more structured approach — and grew from a bootstrapped startup to a full-fledged corporation — he grappled with the challenges of adjusting to this new dynamic.

The toll on his mental health during this period was significant. Stress, pressure, and internal conflict pushed him quite close to the brink, and he began to reevaluate his priorities.

Lloyed ultimately decided to move his family to Dubai. Many other Gulf War refugees had moved there and he knew they would be welcomed. The massive change in environment proved to be transformative, and was just the breath of fresh air he needed.

When in Dubai, Lloyed had to make a hard decision. Although it was difficult to walk away from a company that he helped build from the ground up, it was time. The business simply didn’t align with his values anymore. After many talks with the board and his co-founder, the pair decided to sell their shares.

Surrounded by his friends and family, he rediscovered what truly mattered: community.

Reconnecting with the Importance of Community

Lloyed’s time in Dubai led him to realize the profound role that community plays in our lives. He recognized that it had been a constant thread throughout his journey, from his refugee experience to the challenges of entrepreneurship and his battle with mental health.

Today, Lloyed has taken on a new role: author. His debut, From Grassroots to Greatness: 13 Rules for Building Iconic Brands through Community-Led Growth, provides insights and practical advice for those who wish to harness the power of community.

Key Lessons

While Lloyed’s exit isn’t as traditional as some others, there remain some key lessons to learn from:

  • Reevaluate, refine, and edit: When Lloyed realized that his company no longer aligned with his values, he did something about it. It’s a reminder to constantly reflect on where you are in life and in business. If you’re unhappy, make a change.
  • Community is crucial: When the going got tough, Lloyed was able to lean on his friends and family for support. Strive to do the same and surround yourself with people willing to cheer you on — and bring you back down to reality when needed.
  • Give without expecting to get: Over the course of his entrepreneurial journey, Lloyed realized that giving without expecting anything in return can lead to great things. Selfless giving has become a central theme in his life and it’s worked out in his favor.

Through his work, Lloyed continues to pay it forward, providing a valuable resource for others in search of mentorship and insights.

Interested in exiting your own bootstrapped company? We can help. Give us a call today.

Episode 92 – The Standard

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On today’s Apex Business Advisors podcast episode, Andy is joined by our colleague Chuck Campbell. Chuck joins us to discuss the standard for an Apex client. He shares the four criteria we seek in an engagement and why meeting those criteria ultimately leads to a successful outcome.

Ready to start the conversation? Get in touch for a FREE consultation. The best way to learn about us is at our website, which includes connecting with Doug, Andy, or the rest of the Apex Team.

Book Club #35: The Obstacle is the Way by Ryan Holiday

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Book Club #35: The Obstacle is the Way by Ryan HolidayToday’s business environment is different from anything studied or reviewed in the modern era because the times and culture we are in are significantly different than any other in the modern era. While trying to stay ahead of the curve of an economy in flux, many business owners have been looking for new ways to overcome the turbulence. However, Ryan Holiday believes that the ancient Greek and Roman philosophy of Stoicism is the approach that current and prospective business owners and sellers should adopt. His best-selling book The Obstacle is the Way dives into the lessons that can be learned from Stoicism which we can apply to challenging times, including in the world of business ownership.

Rolling with the Punches: In Three Parts

The elevator pitch of Stoicism is that it is a philosophy of life that focuses on what the individual can control. Instead of reacting to outside influence, the practitioner remains calm and focused on what they can directly influence. A calm mind is able to think logically by removing emotion from the equation. In The Obstacle is the Way, Holiday believes that you should face challenges and accept them as an opportunity to grow. Time spent complaining about actions outside of your control is time wasted. Accepting the hand you have been dealt and moving to overcome it is much more valuable.

There are three parts to the path forward when encountering any obstacle. First, your perception of the challenge is key because an accurate perception means that you can formulate a clear path forward. Once you see your path, you are able to act on it, which is the second part of Holiday’s approach. Finally, when you reach a roadblock in your path, you will have to enact sheer will to stay focused on the challenge and overcome it, and not stay fixated on what could have been or would have been. Willing yourself to remain present is the key to learning from the past and being better prepared for the future.

Best Laid Plans?

One of the challenges of acting on a plan is knowing what to do when that plan suddenly becomes inoperable. Most business owners attack a problem with a clear and consistent approach. They evaluate their options, decide on the best step forward, develop their plan to move ahead and get to work putting it in place. However, when an outside force derails your plan, how do you react? Most people try to find ways to remain with their plan. After all, they followed their processes to develop the best plan possible, so why not fight to make it work as it was designed? What is the right way to proceed?

This is where Holiday suggests accepting that what is right, is what works. Time spent worrying about deviating from a previous plan is time you could spend moving forward and learning new insights that could solve your problem. He doesn’t suggest abandoning a plan, just that you shouldn’t allow total adherence to a pre-existing plan then lead you to lose valuable time and energy by remaining static. Instead, focus on channeling your energy toward movement into a new and more flexible plan.

Where There’s A Will

The third part of Holiday’s path to accepting that the obstacle is the way is to impose your will onto the challenge at hand. But he doesn’t mean the type of will that you may hear about when a larger company bullies a smaller company into submission. What Holiday is referring to here is the Stoic will. The ability to remain resilient and flexible while maintaining quiet humility as you overcome your obstacle. Problems will occur. Plans will be affected. Nothing will run perfectly smoothly. And that is okay. If you follow the teachings of Stoicism you will accept that many problems will occur. If you believe in your business you will treat these problems as obstacles to overcome and lessons to be learned and become a better business owner for it.

The business of being in business is often a paradox. While you may strive to create structure and systems that serve as the bedrock for a stable business foundation, you will also be faced with challenges that threaten to shake your systems to the ground. You must learn to transform these random quakes into a support structure for an even stronger business. You can do this by accepting these challenges as inevitable, remaining focused only on what you can control, and seeing these events as tools and lessons to be wielded for future challenges. You will come to relish the fact that the obstacles we face are often our best teachers.

If you want a feel-good antidote for your bad business days, we’re always happy to provide a pick-me-up! Give us a call.

Episode 91 – The Benefits of a 4th Quarter Valuation

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On today’s episode of the Apex Business Advisors podcast, Andy and Doug discuss the benefits of having a Broker’s Opinion of Value performed in the 4th quarter.

For a business to sell successfully, both the owner and the business must be ready. Unfortunately, this year, we have had to turn down several listings where only the seller was prepared. They sought to retire and sell, only to realize that their business’s value and appeal weren’t attractive to the market. Lack of proper planning had left their business unready. Entrepreneurs often pride themselves on aspects crucial for business growth, but these might not align with what potential buyers value. Buyers look for established processes, reliable personnel, and technology in place.

The benefits of a 4th quarter valuation that Andy and Doug discuss are informed decision making, negotiation power, timeline control, and tax & financial planning.

Ready to start the conversation? Get in touch for a FREE consultation. The best way to learn about us is at our website, which includes connecting with Doug, Andy, or the rest of the Apex Team.