Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Eric Whitmoyer, Co-Founder and CEO of My Biz Coaches, located in Chandler, AZ, USA.
What's your business, and who are your customers?
We have two key customers we work with. Any business looking to increase revenues, improve production, enhance execution, or develop new strategies to reposition your business. We can show any business how to increase revenues by as much as $100K or more with just a 45-minute consultation. The second primary customer is the business owner who has not created a solid exit strategy and wants to maximize the value of their business before selling or can't sell their small business.
Tell us about yourself
During my corporate career, I was instrumental in helping two companies achieve over $100 million in annual revenue, with one company even having a successful exit. I have learned a great deal about building a successful company. Additionally, I have started or acquired more than a dozen businesses of my own, which I enjoyed immensely. I feel those combined experiences have prepared me perfectly for being an excellent resource to other business owners who wish to grow and scale their businesses.
At My Biz Coaches, we have garnered the knowledge and experience of many successful business people, captured their best insights and knowledge, and provided this information to our clients to help them build, re-build, scale, acquire and even sell their businesses. Our Billion Dollar Mission is to help 1,000 small business owners profitably achieve $1 Million in annual revenues.
What's your biggest accomplishment as a business owner?
I have numerous success stories, but some of the most impactful ones are where we helped a business owner regain control of the business that was running them. Or how a younger entrepreneur who has a growing business develops both personally and professionally as a leader and sees the real opportunity of that business as it triples in productivity.
What's one of the hardest things that come with being a business owner?
As a business coach, I would suggest that one of the things I hear the most is having the challenge of running a business but not always having a reliable, experienced confidant to share ideas, concerns, frustrations, or just having someone help hold them accountable.
When you run a small business, you have to wear a number of hats, and often the biggest challenge is being able to make decisions about things you may not always have enough insight into to do so effectively.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Critical System #1 - Your business must have a system to predictably generate as many leads as you can handle each month in a cost-effective manner.
Critical System #2 - Your business must have an effective and highly automated system to ensure you close each of those new clients at a rate of 50% to 75% to ensure massive profits.
Critical System #3 - Your business must have a series of human and/or technical systems to automate or delegate those key functions of your business that allow you to "work on your business and not always in your business."
Is there anything else you'd like to share?
Having worked in the corporate arena for many years, I know the value of a strong team with different skills and capabilities. Large companies have boards to help them strategically plan and coordinate their business, while the average small business owner often does not. A good business coach can help facilitate a similar structure, which is what we do for our clients at My Biz Coaches.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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