People Power: We start our business with a "big idea" but we sustain our business with key ideas. There are links (just above in the green box) to the fourteen key ideas from this episode of the show. Because these case study materials are now published as part of over 40 leading college textbooks in business schools, these materials are being used daily in virtually every college and university throughout the country. So, please, spend some time with the case study guide and each of the related transcript segments.

Every small business owner asks the question, "When do I hire someone?" In today's world, the answer is always, "Sooner than later." There are so many options that make it easier, we would be a fool not to hire a person to lift some of the burden off of our shoulders.

In this episode of the show we will explore what it takes to make it a goal to hire at least one new person per year. After 20 years, most any business can support one person in the first year, could/should support at least 20 people and their families by the 20th year. Let's see what is behind this challenge.

The more successful a business owner becomes, the more likely it is you will hear them say, "The single most important factor in this business is the people." People do make the business. People give a business its staying power.

By re-examining very specific parts of prior episodes of the show, we give you the very best thinking about what it takes to grow your business and groom the leadership to take over the reigns. If you follow this show weekly, you will have a succession plan and a liquidity model. Everyone needs a real exit strategy and a way to harvest our equity, particularly those intangibles that were inherent within the founding.

Hiring the right person at the right time can be do magic for a business.

Economic Development Commissions and Workforce Initiative: Be a partner with your local PBS-member station with this campaign for your small business owners to create "Just One More Job." Begin with this benefits statement. Always it'll be free from Small Business School.

CONTACT:
Small Business School
Dallas, Texas 75225

Tel: 214-378-1118
Email: Click here

COMMENTS OR QUESTIONS. We invite your comments and questions.

• Leonor Ferrer, Ferrer Brokers, Otay Mesa, California and Tijuana, Mexico
• Bill Sugars, Mickey Finns Brewery and Tavern, Libertyville, Illinois
• Judi Jacobsen, Madison Park Greetings Seattle, WA
• Wanda Brice, Computer Directions Dallas, TX
• Troy Scoughton, TMC Design Las Cruces, NM
• Bud Konheim and Nicole Miller, Nicole Miller Fashions, NYC, NY
• Tom Gegax, TiresPlus, Minneapolis, MN
• Albert Black, On Target Supplies & Logistics, Dallas, Texas
• Pam McNair, Gadabout Tucson, AZ
• Jim Schell, Opportunity Knocks Bend, OR
  Also: You may this video about Jim and the key points of his books, Understanding your Financials, to be helpful.
• Marty Edelston, Boardroom, Inc., Greenwich, CT
• Joseph Semprevivo, Joseph’s Lite Cookies, Deming, NM

AND THERE IS STILL MORE. Ever wonder what ended up on the cutting room floor? Of course, a half-hour show is an impossibly short time to cover such a large subject. And, there are several additional points that small business owners have made over the years that are very helpful.

Here are some of those points and the excerpts from the respective transcripts. And, here is a page with the links to the complete episodes for each business owner.

• LOOK AT STEP 5: EMPLOYER. Congratulations if you have hired your first employee. It is a milestone and often signals that a business has STAYING POWER. Review the stories of other businesses within your business type that have broken this barrier. Review those stories within Steps 6, 7 and 8.

• THE CAMPAIGN: "JUST ONE MORE JOB" Small Business School is inviting Chambers of Commerce and Economic Development and Workforce Initiative commissions and agencies to focus on the 15 million to 17 million sole proprietors in the USA. Most are making enough money to create one more job each year.

• REVIEW THE EPISODE ENTITLED, STAYING POWER. You see may places on this website where it reads, "Creating something of value makes a life worth living. When it's sustainable, it's a legacy." Over 70% of all businesses fail in their first year; and then whatever remains standing after 20-to-30 years, over 70% fail to transition to new ownership and leadership. Understanding people and understanding equity and liquidity are keys to staying power.

• CASES BY BUSINESS TYPE. Click on the heading to find all the business types and then click on your type of business to check out those case studies. This episode contributes insights into Business Services / Continuing Education.

• WATCH TV ABOUT VALUE CREATION: Turn off TV about people exploiting people. It brings us all down. To find SmallBusinessSchool, check your local PBS-member station. If you don't find us there, drop us a note and we will get it on your local government station for economic development. You can also check the rebroadcast of PBS-member station signals on DirecTV and Dish Network.

• FIRST PRINCIPLES: Starting a business is the road to economic independence for most of us average people. Read a little more to see why incorporating a business keeps the passion of the American revolution alive!

• JOIN, JOIN, JOIN: Your professional associations in your industry are your key to continuing education, market research, collaborations, strategic partnerships, capital and so much more ... often you'll find that you enjoy like-minded people and many will become friends for life.

SUPPORT PUBLIC TELEVISION:
Become a member of your local station. If you are already, great. If not and your business is doing well, consider joining the Producers' Club ($1000). Too much? Get a twenty employees, customers and/or suppliers to join en masse with you at $50 per person. Just get on the inside of your local station and learn how to become a producer.