))
Decoding Business Value - George Wellmer - Steel City Growth - Episode #3
Manage episode 481380049 series 3657161
Content provided by Murphy Business. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Murphy Business or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Do you know the real value of your business? George Welmer, an expert in SBA lending and Founder of Tupelo, joins Bill today to dive into business value. George shares his journey from aspiring baseball player to successful entrepreneur, discusses strategies for business growth, the importance of business valuations, and how AI is revolutionizing various business operations. The conversation covers pricing strategies, customer-centric product development, and insights on acquiring businesses. You won’t want to miss out on what George has to say!
Takeaways:
- Understand Your Business's Value: Regularly assess the worth of your business using key metrics like revenue, margins, and growth prospects to identify growth opportunities and build a strategy for scaling.
- Utilize Valuation Tools: Take advantage of available free valuation tools to understand the value of your business. This knowledge is crucial for making informed decisions about growth and potential sales.
- Stay Customer-Centric: Continuously engage with your customers to understand their needs and preferences. This feedback should drive your product and service development.
- Focus on Recurring Revenue: Strive to increase recurring revenue streams as they provide stability and are highly attractive to potential buyers.
- Prioritize Customer Service: Superior customer service can justify higher prices and create strong, long-term customer relationships.
- Engage the Community: Contribute to industry reports and share insights as these platforms can help in building your network and showcasing your expertise.
Quote of the Show:
“ There's a reason why premium products can charge a premium price, and a lot of time it's because of the service and your relationships that you have with that customer.” - George Wellmer
Links:
- LinkedIn: https://www.linkedin.com/in/georgewellmer/
- Website: https://www.tupelosmb.com/
Ways to Tune In:
- Transistor: https://steelcitygrowth.live/
- Spotify: https://open.spotify.com/show/4SBtiD6wOmd2EFCYh4PW3Z
- Apple Podcasts: https://podcasts.apple.com/us/podcast/steel-city-growth/id1806713142
- Amazon Music: https://music.amazon.com/podcasts/42813799-b7e8-432a-a9d5-aa6d67b8f8f3/steel-city-growth
- Podchaser: https://www.podchaser.com/podcasts/steel-city-growth-6053619
- YouTube: https://www.youtube.com/@SteelCityGrowth
7 episodes
Share
