MfM's Blog
Articles and advice to help you create a better business, add value to your business, or get your business ready for sale or transition to the next generation.
Learning a Lesson from Pizza-making Robots
In this captivating blog post, Kermit Engh takes readers on a journey filled with personal anecdotes and intriguing insights. From expressing gratitude to the Southwest Drycleaners Association’s Showcase in Dallas to recounting the sale of his cherished Christmas Tree farm, Engh shares the joys and challenges of his various business ventures. However, it is his recent encounter with pizza-making robots at an expo that sparks his imagination about the potential for automation in the garment care industry. Alongside this exploration, Engh delves into the success of his partnership in opening a thriving brewery with a pizza kitchen, and the heartwarming story of his 98-year-old WWII veteran father joining their household. Join Engh as he navigates the world of entrepreneurship, embraces automation’s possibilities, and cherishes the precious moments shared with loved ones.
7 must-read books to help you grow your business and take it to the next level
There are plenty of great business books that can help you hone your skills and take your company to the next level. Not sure where to start? Here are seven must-reads for small business owners.
The Impact of Cash Flow on the Value of Your Company
This month, we discuss the tenth of the Value Builders drivers with our focus on cash flow. We call this the TEETER TOTTER. Our goal will be to maximize the cash flow coming from the day-to-day operations of your business.
Net Promoter: The Standard for Measuring Customer Loyalty
Many companies recognize the power of loyalty and its impact on financial performance. Not only is the notion of loyalty intuitively appealing, but a growing body of empirical evidence suggests that companies that choose to ignore loyalty may find themselves on precarious footing as they attempt to ascend the ladder of financial success.
Make Your Company Independent, NOT Dependent – The Switzerland Structure Value Builder Driver
Companies that become the best on the Switzerland structure attribute having found a way to remain independent like the country of Switzerland from any one of those, so they do not have a reliance on one customer, they are not too dependent on a single employee, and there not too dependent on a single supplier.
Create a Business that Works Without You – Hub & Spoke Value Driver
How well does your company run when you do not show up for work?
The answer to this question has a significant impact on the value of your business. Suppose your company could survive your absence for a while. In that case, you will score well on something referred to as “Hub & Spoke,” the next driver in increasing your company’s value.
Build Value in Your Business by Creating Market Differentiation
In my experience there are two ways to differentiate your business product or service. Number one, you can produce a better mousetrap through technology so that you truly have something that is a differentiator that sets you apart from the competitors.
Why Companies are Adopting Subscription Billing Models
Could you offer some sort of subscription plan to your customers? Here are six reasons to consider offering your customers a subscription
Why Growth Potential is One of the Eight Factors that Drive the Value of Your Business
As promised, this next module for building value in your business is not as long or “technical” as last month. This month we will talk about the growth potential for your business. As a business owner, you’re likely proud of the results you’ve achieved in the past....
The Customer Score: The Key to Calculating Customer Loyalty
Let’s discuss another driver of value to your business. This is the “CUSTOMER SCORE”. The value of your business is determined by the future stream of profitability. But how do we predict this? Let’s talk about the Net Promoter Score.