How to buy and turn around a
distressed business or 'roll-up' competitors

On this site you’ll read real life stories of how 23 entrepreneurs find, fix and then sell small companies on the edge of failure. Sometimes we buy our weak competitors in a roll-up and get new clients cheaper by acquisition then organic growth. If you like these concepts, come to the next workshop. Learn how we...

✓  Find distressed companies that are worth saving for capital gains
✓  "Roll-up" your competitors for rapid growth with little cash or risk  
✓  Why buying a distressed business is the BEST way to do a start up

From KC Truby Lonesome Cowboy Publishing Inc. 301 Thelma Drive #426, Casper WY 82609 (760) 207-6385

Why we’re so damn busy working we can’t make any money

By on June 20, 2014

Why we’re so damn busy working we can’t make any money.

By: KC Truby

When I drive by a business owner’s office and I see the lights on at 7PM, when they should probably be at home having dinner with the kids, I think – well there is someone I can buy out next year for ten cents on the dollar.

On this website and especially in our BIG BOOK CLUB, we try to show you how to cut the hours you work in any business down to 3 to 6 hours a day and eventually down to 2 hours a week.

One of the biggest secrets of getting out of the daily grind is to leave instructions behind on everything you do, so that someone else can do it. If your tasks are so complicated that no one can understand them but you – your business is too chaotic to grow past five employees. You probably need to go back to the drawing board and figure out how to get rid of the events in your life that can’t be delegated.

The first step is to recognize that you must have an operations manual for EVERY business, regardless of how small. In the future every tasks that hits your desk must include 3 steps. A) Do it B) Document how you did it C) Delegate it to someone else.

One of my favorite things to tell my staff is “Hey, if you forgot, I don’t actually do any real work around here. If I did one of us would not be needed.” This may sound trite, but they understand my three big tasks from day one and realize their job is to help me get my job done.

The order of tasks I write instructions on (by the way your staff should probably write about 70% of your manual) are based on the value of the task. In order:

  1. Tasks that effect a customer and are an immediate problem.
  2. Those things we need to get done each week or month to run the business like a machine.
  3. The ongoing events that will drive sales up and cost down, like setting out to buy your competitors.

Once we have started organizing our daily work and ‘emergency for the boss’ events into a flow chart we divide the tasks into production, marketing and finance. In every well run business you will need one person in charge of each of these three categories of work. We’ll talk more about that in future articles.

Keep your manual simple and the instructions laid out in flow chart or check list if at all possible. The long text files are hard to understand and generally get ignored. By the way nothing is easier then setting up a YouTube private account to store a simple screen capture or slide show with voice over.

If you need help in this area, and you have tried for years to get a manual put together or wonder how to get your team to use the instructions you’ve already left behind then join the BIG BOOK CLUB. We focus a large part of our efforts and training on creating the turn-key cash cow operation with you, in our training and master mind meetings.

 

About KC Truby

From their ranch in Wyoming, KC and his wife Linnea have bought or started 21 companies as a side line to their accounting business leading them into M&A as a full time business in 2012. These companies are located all over the Western Rocky Mountains, London and India. Since 1969 through their accounting and training companies, KC has taught 18,000 business owners how to improve cash flow and find more customers by installing standardized systems in their small business. Since 1989 KC has presented over 1,000 seminars and training classes to the small business owner.

One Comment

  1. Gerome

    June 22, 2014 at 5:01 pm

    Do it, Document it, Delegate it; these are truly words to live by.

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