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Marketing Minute: I’ve Got $10,000 a Month to Spend on B2B Marketing. What Should I Do?

From Our Sponsor: The trick with $10,000 per month is that you know it probably won’t allow you to do everything you want to do—and certainly not everything you could do.

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About 21 Hats: What We Do. What People Say. How We Got Here

Have you read our testimonials? At 21 Hats, don't tell you how to run your business. But we do publish news articles, Q&As, webinars, podcasts about what it takes to build a business.

Private Equity Has Never Been More Alluring

The investors come bearing money and with promises of relevant expertise and a glide path to that elusive next level. Should entrepreneurs believe them?

It’s Been 10 Years Since I Was Laid Off

My last corporate job was at American Express, where I worked almost exclusively on products and services for small businesses. It was there that I developed a serious case of entrepreneur envy.

Latest PODCAST EPISODE
Episode 82: I Track Everything You Could Possibly Measure
I Track Everything You Could Possibly Measure

Several weeks ago, we had a great conversation about how Jay Goltz, Diana Lee, and Dana White track their financials. It was so good that, this week, in episode 82, we decided to put similar questions to Paul Downs and Laura Zander. “It's funny, I was listening to that episode,” Laura says, “and Diana said she's a freak about the numbers. I'm like, ‘God, does that make me a superfreak?’” Laura walks us through how her labor costs can affect what types of yarn she carries, Paul suggests a quick-and-easy ratio that can signal when a business is in trouble, and Jay explains how an hourly performance indicator that he began tracking 30 years ago transformed his business. Plus: Laura tells us how she got a bank loan that’s almost three times the size of the one she couldn’t get last year.

Top Podcast episodes
Holy Crap! This Is All My Dreams Come True
TIME TO LISTEN: 47:46

This week, in episode 81, we have a celebration. As many of you will recall, when we started this podcast, Karen Clark Cole was coming off months of failed negotiations with a potential investor in Blink, the business she co-founded. Those months she spent focused on the investor took a toll on both Blink and on Karen, who subsequently took a mental health sabbatical. But, as Karen tells Jay Goltz and William Vanderbloemen, she came back, refocused, and has just sold Blink for $94 million in cash. As you might imagine, we had some questions for Karen, including: Will she stay? How many employees knew what was going on? Was there a bidding war? Is there an earnout? What was it like to wake up one morning knowing that she had taken all of her financial risk off the table? And is she ready to report to a boss?

'Pardon Me. I’m So Sorry. This Is My First Pandemic'
TIME TO LISTEN: 50:18

This week, in episode 79, we go one-on-one with William Vanderbloemen. We start off talking about how he saw The Great Resignation coming and what he thinks are the keys to coping with it. Then we step back, and—with the help of many questions suggested by listeners—we discuss his conversion from pastor to CEO, what happened to his company culture when everyone went remote, and why he still reads every single email he gets—even when he’s off on a seven-week sabbatical. Plus: how he hit upon his unconventional social media strategy and his suggestions if you’re looking for a VP of marketing. (Suggestion No. 1: Try not to lose the one you have.)

Should I Open My Books to My Employees?
TIME TO LISTEN: 1:06:29

This week, in episode 80, we talk about open-book management, which its proponents call the only sensible way to run a company. To test that theory, we bring together three skeptics and three believers to discuss what it really means for owners to open their books: Do employees know what the boss makes? Do they flee when the numbers turn red? Do they expect to have a say in big decisions? What emerges is an intimate look at how six smart business owners run their businesses.

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Latest CONVERSATION
A Business Owner Dares to Start a Real Conversation About Race

White owners often ask Mel Gravely, CEO of TriVersity Construction, what they can do to help. He’s got an answer for them, which he offers in this interview and in his challenging new book, ‘Dear White Friend.’

Top CONVERSATIONs
What’s in It for the Owner? A Skeptical Conversation about ESOPs

Both Jeff Taylor and Jim Kalb run companies with employee stock ownership plans. Jay Goltz is thinking about implementing one — but he’s got questions, such as: Where does the money to buy the company come from?

What’s Wrong With Small Business Marketing?

It’s not always about marketing. Sometimes, the real issues go deeper. Sometimes, before you can figure out how to sell, you have to figure out who you are.

Brent Beshore Takes a Radical Approach to Private Equity
TIME TO LISTEN: 48:00 TIME TO WATCH: 48:00 TIME TO READ: 17:00 MINS

Brent Beshore likes to say of the businesses he invests in, “Boring is beautiful.” It’s one of the things that sets him and his firm, Permanent Equity, apart. He runs a private equity fund with more than $300 million in capital, but he’s not really a private equity guy.

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