In today's evolving talent landscape, forward-thinking small business owners are discovering a powerful recruiting advantage: former employees who want to return. Known as "boomerang employees," these returning team members represent an innovative talent acquisition strategy that successful entrepreneurs are using to accelerate business growth and build stronger teams. Corey Harlock, founder of KeyHire Solutions , recently explored this phenomenon in his latest podcast episode, The Boomerang Effect: Rehiring Right or Getting It Wrong? His insights reveal why this approach could be a game-changer for your small business management strategy. Understanding the Boomerang Employee Strategy A boomerang employee is someone who previously worked for your company, left for other opportunities, and now wants to return. The psychology behind it runs deeper than most business owners realize. "It's a rehire. It's hiring someone who used to work for you," Harlock explains. "The concept around the boomerang employee is they leave for greener pastures, they find out it's not so green on the other side, and they realize maybe I didn't have it so bad where I used to be." For small businesses generating $5-25 million in revenue, this trend represents more than just a hiring opportunity—it's a strategic advantage that can accelerate growth while reducing recruitment costs and onboarding time. When valuable employees resign, emotions often override business judgment. The timing is usually terrible, and the personal sting of rejection can cloud decision-making. "When a valuable employee quits, they usually quit at the exact wrong time when you feel like you need them most," Harlock notes. "As a business owner, it can be hard not to take it personally and not be upset about it." Many business owners either walk departing employees out immediately or allow the relationship to sour during the notice period. This emotional reaction can permanently damage relationships with talented individuals who might otherwise return as even more valuable contributors. Why Small Business Hiring Strategies Should Embrace Boomerang Talent Key Advantages of Boomerang Employees: Enhanced Skill Sets : Former employees who return often bring significantly expanded capabilities from their experiences at other organizations Cultural Fit : They already understand your company culture, values, and core business model, eliminating many onboarding challenges Accelerated Integration : Boomerang employees know internal dynamics and can quickly reconnect with existing team members Reduced Risk : Unlike external hires, you know their work ethic, personality, and performance history Cost Efficiency : Shorter training periods and compressed learning curves create compelling financial advantages Consider this scenario: An employee left your $8 million company to join a $50 million organization, where they progressed from individual contributor to management. When they return, they're bringing that expanded capacity back to your business. While you'll likely pay boomerang employees more than their previous salary, the return on investment often exceeds that of new hires. When a high performer leaves, your odds of finding an equally capable replacement are only one in three. Boomerang employees eliminate many of these risks while providing known outcomes. Building Relationships That Support Business Growth The success of any boomerang strategy hinges on how you handle employee departures. This requires a fundamental shift in perspective—from viewing resignations as betrayals to seeing them as temporary career detours. The Professional Departure Process Take a Strategic Pause : Before reacting emotionally, ask yourself: "If they ever wanted to come back, would I bring them back?" Express Genuine Understanding : Acknowledge their decision to leave, even if the timing is inconvenient Recognize Their Contributions : Highlight their positive impact on your organization Maintain Professional Grace : Be honest about your disappointment while remaining supportive Keep Doors Open : Periodic check-ins after they've settled show genuine interest in their success "Take a beat, take a breath, and think, if they ever wanted to come back, would I bring them back?" Harlock advises. "If the answer is yes, we need to treat them with respect and treat them as well on their last day as we did on their best day." This approach involves checking in periodically, after they've had time to settle. A simple email asking how things are going keeps doors open while demonstrating your commitment to professional relationships beyond employment. Evaluating Boomerang Candidates: A Strategic Framework Not every former employee should be welcomed back. Smart business owners evaluate potential boomerang hires against specific criteria to ensure strategic alignment and business value. Experience Assessment : Have they gained transferable skills and knowledge that benefit your current objectives? Look for growth in technical capabilities, leadership experience, or industry expertise that wasn't available when they first worked for you. Cultural Evolution : Are their professional changes compatible with your current company direction? People grow and change—ensure their new perspectives align with where your business is heading, not just where it was. Business Need Validation : Do you have legitimate operational requirements that they can address? The role should align with genuine business needs and growth objectives, not just personal relationships or nostalgia for past performance. Financial Feasibility : Are their salary requirements within your budget parameters? Former employees typically expect compensation that reflects their market growth and expanded responsibilities. Critical Mistakes That Damage Boomerang Opportunities: Emotional Decision-Making : Letting frustration about timing or feeling personally rejected drive your response to resignations Compensation Assumptions : Expecting returning employees to accept the same pay and responsibilities they had before leaving Integration Oversights : Assuming they can immediately operate at full capacity without proper reintegration support Manufactured Positions : Creating roles just to accommodate a boomerang employee's return without a genuine business need The most significant mistake is allowing emotions to drive decisions during the departure process. When frustrated about timing or feeling personally rejected, it's easy to dismiss the employee's contributions or make their final weeks uncomfortable. This reaction closes doors that should remain open for future opportunities. Another common error involves expectations around compensation and growth. Former employees have gained experience and market exposure—they'll negotiate for roles and salaries that reflect their development. Failing to recognize this evolution can lead to failed negotiations and missed opportunities.  Don't overlook the importance of setting clear expectations for returning employees. Your company culture, processes, team dynamics, and business priorities may have evolved significantly during their absence. Implementation Strategy: Your Next Steps Ready to implement a boomerang strategy in your organization? Here's your systematic approach to getting started: Immediate Actions: Audit Current Departure Processes : Review how you currently handle employee resignations and identify improvement opportunities Establish Exit Interview Protocols : Go beyond surface-level feedback to understand real departure reasons Create Relationship Maintenance Systems : Develop simple processes for staying connected with former employees Train Management Teams : Ensure leaders understand the strategic value of professional departures Long-Term Development: Begin with your next employee resignation. Instead of reacting emotionally, pause and ask: "Would I want this person back if circumstances were different?" If yes, focus on creating a positive departure experience that keeps future doors open. Develop systematic approaches to exit interviews that reveal actionable insights. Understanding genuine reasons behind departures helps you address systemic issues that might be driving talent away unnecessarily. Create simple systems for maintaining relationships with former employees. This doesn't require extensive effort—periodic check-ins via LinkedIn, holiday greetings, or sharing company milestone announcements can keep connections alive without being intrusive. Most importantly, evaluate your overall talent acquisition strategies to ensure you're maximizing your chances of finding and retaining top performers from the start. If you're consistently losing good employees, addressing root causes is more effective than simply hoping they'll return later. For small business owners who want to develop more sophisticated talent acquisition approaches, consider partnering with specialists who understand the unique challenges of scaling organizations. KeyHire Solutions works exclusively with small businesses to create custom hiring strategies that support sustainable growth. Key Takeaways The boomerang employee phenomenon offers small businesses a strategic advantage in today's competitive talent market. By maintaining professional relationships with departing employees and creating pathways for their return, you build a talent pipeline that can accelerate business growth while reducing hiring risks and costs. Successful boomerang strategies start with emotional intelligence during employee departures. Treat resignations as temporary career detours rather than personal betrayals and focus on preserving relationships that could benefit both parties in the future. Former employees who return often bring enhanced skills and faster integration times, making them valuable additions to growing teams. The key to effective small business management in this area lies in long-term thinking and strategic relationship building. When valued employees resign, resist the urge to react emotionally and instead consider the strategic value of maintaining positive professional connections. The boomerang approach is becoming a refined strategy that established organizations can use to enhance the strengths and capabilities within their teams. In today's competitive talent market, your former employees might just be your future secret weapon for sustainable business growth. Want to listen to the full conversation? Listen to this episode of The Key Hire Small Business Podcast featuring Corey Harlock. Check out our sponsor: Career Spring, Careers launch here: https://careerspring.org/ Connect With Us: KeyHire LinkedIn KeyHire Facebook KeyHire YouTube KeyHire Instagram KeyHire Solutions, Be Our Next Success Story: https://www.keyhire.solutions/testimonials Contact Corey: corey@keyhire.solutions

As a small business owner looking to strengthen your team, you always seek talented individuals who can drive results and adapt to your company's evolving needs. What if there were a proven talent pool right in your community? One filled with individuals who've already demonstrated their ability to perform under pressure, solve complex problems, and lead teams through challenging situations? That talent pool exists, and it's comprised of the 250,000 military veterans who transition to civilian careers every year. In a recent KeyHire Small Business Podcast episode, host Corey Harlock sat down with Mike Hutchings, CEO of Combined Arms , to explore how small business owners can successfully integrate veteran talent into their organizations. Understanding the Veteran Talent Landscape for Entrepreneurs The veteran talent pool represents one of the most compelling opportunities in today's hiring market. With less than 1% of the American population currently serving in the military and approximately 250,000 veterans transitioning to civilian careers annually, this represents a substantial source of proven talent entering the workforce with leadership experience and specialized skills that many businesses need. What makes this opportunity particularly valuable is the depth of experience veterans bring. Military service develops skills that directly translate to business success: leadership under pressure, strategic thinking, team coordination, and the ability to execute complex operations with precision. Veterans have managed budgets, led diverse teams, and solved problems in high-stakes environments that few civilian roles can replicate. The key to successfully tapping into this talent pool is understanding how military experience translates to business value. Rather than getting caught up in military terminology or rank structures, focus on the underlying competencies: project management, crisis response, training and development, logistics coordination, and strategic planning. Veterans also bring a unique perspective on accountability and results-driven performance. Their experience with clear objectives, measurable outcomes, and team-based success creates employees who understand individual responsibility and collective achievement. T he Hidden Goldmine: What Veterans Bring to Small Business Management When you look beyond the uniform and military terminology, veterans offer a unique combination of skills that directly address common small business management challenges: Problem-Solving Under Pressure : Veterans, particularly those with combat experience, have navigated what Mike calls "VUCA" environments – volatile, uncertain, complex, and ambiguous situations. "I have yet to see replicated anywhere outside of my time in the service," the level of innovation required when "something didn't go according to plan and we had to find ways to instantly adjust, sometimes under direct fire conditions." Natural Entrepreneurial Mindset : Contrary to the stereotype of rigid military thinking, many veterans have extensive experience operating independently. Mike explains that in theater, "you very much become an entrepreneurial force of nature and operate almost as a complete entity... you have this large overarching task and you have to figure out a way to accomplish it." Leadership at Every Level : Military structure ensures that even junior personnel take on significant leadership responsibilities. Veterans understand accountability, team dynamics, and how to motivate others to achieve objectives. Adaptability and Learning Agility : Military careers require constant adaptation to new roles, locations, and challenges. This translates into employees who can grow and take on evolving responsibilities with your business. Practical Small Business Hiring Strategies for Veteran Talent Acquisition Successfully hiring veterans requires a strategic approach that addresses the unique challenges and opportunities this talent pool presents. Here are actionable strategies based on Mike's insights: 1. Connect with Your Local Veteran Community The most effective approach isn't posting jobs on generic boards -- it's building relationships within the veteran ecosystem. Building these connections means attending local veteran organization events such as VFW and American Legion chapters, connecting with veteran-focused nonprofits in your area, and signing up for your state Department of Veterans Services mailing list. 2. Ask the Right Questions During Interviews Don't hesitate to ask about military experience -- veterans want to discuss their service. Mike notes, "I have yet to come across a veteran who doesn't want to talk about their time in service and is not open to answering questions about their time in service." During interviews, focus on specific responsibilities and leadership roles they held, problem-solving examples, decision-making under pressure, team management and conflict resolution experiences, and how they adapted to new environments and challenges. These conversations will help you understand what they did and how their military experience translates to your business needs. 3. Maintain Professional Standards While supporting veterans, don't lower your hiring standards. "Not all transitioning service members are going to be great employees at your company just because they served," Mike warns. You should still ask the hard questions. You should still ensure that that individual has researched the company and understands certain things." Setting Realistic Business Management Expectations Once you've hired a veteran, success depends on setting appropriate expectations for integration. Transitioning from military to civilian work involves more than just changing jobs – it's a complete lifestyle adjustment. The Integration Timeline: Instead of establishing rigid timelines for veteran integration, focus on creating a flexible, mentorship-based approach. A dedicated mentor working alongside the veteran during their first few months adds value for both the business and the veteran by facilitating smoother transitions and quicker immersion. Implement regular check-ins at 30 and 60 days to assess progress, target specific performance metrics, and maintain open conversations about expectations and adjustments. Understanding Different Military Backgrounds Not all military experience is the same. Veterans who serve in combat environments may have different skill sets than those who remain stateside. Combat veterans often excel in unstructured, problem-solving environments, while others may thrive in more structured roles. Understanding these differences helps you place veterans in positions where they'll succeed. The Importance of Open Communication "Open and honest conversations and malleability are what would be mutually respected from both sides," Mike emphasizes. Rather than assuming you know what a veteran needs, create space for ongoing dialogue about challenges and adjustments. Avoiding Common Hiring Mistakes Based on Mike's experience working with both veterans and employers, here are the key mistakes to avoid: Veteran-Side Mistakes: Not doing enough homework on available transition resources Failing to translate military experience into civilian terms Over-emphasizing military identity instead of relevant business skills Employer-Side Mistakes: Giving veterans a "pass" in the interview process due to their service Assuming all veterans have the same background and skills Being either too rigid or too accommodating without finding the right balance Taking Action: Your Next Steps If you're ready to tap into veteran talent for your business, start with these immediate actions: Research local veteran organizations and attend one networking event within the next 30 days Review your job descriptions to ensure they're veteran-friendly and clearly explain role requirements Develop a mentorship program or identify team members who can support veteran integration The talent shortage affecting small businesses isn't going away, but the solution might be closer than you think. By effectively connecting with, interviewing, and integrating veteran talent, you can solve persistent hiring challenges while building a stronger, more resilient team. Your business can play a crucial role in that transition while gaining access to some of the most capable and dedicated professionals in the workforce. Key Takeaways:  Veterans represent an untapped talent pool with proven leadership and problem-solving skills, perfect for growing businesses Successful veteran hiring requires community engagement and understanding of military-to-civilian translation challenges Proper integration involves mentorship, open communication, and realistic expectations rather than rigid timelines or special treatment Want to listen to the full conversation? Listen to this episode of The Key Hire Small Business Podcast featuring Mike Hutchings. Learn more about Mike: https://www.combinedarms.us and https://www.linkedin.com/in/mbhutch/ Check out our sponsor: Career Spring, Careers launch here: https://careerspring.org/ Connect With Us: KeyHire LinkedIn KeyHire Facebook KeyHire YouTube KeyHire Instagram KeyHire Solutions, Be Our Next Success Story: https://www.keyhire.solutions/testimonials Contact Corey: corey@keyhire.solutions

In today's fast-paced business environment, small business owners face constant pressure to innovate and optimize operations while managing limited resources. One of the most significant challenges is the prohibitive cost of custom software development. At KeyHire Solutions, we understand that growing a small business requires smart investments in technology; however, traditional software development costs can quickly deplete your capital reserves.

In the competitive landscape of small business marketing, there's a critical distinction that many entrepreneurs overlook: the difference between building a business and creating a brand. While all brands are businesses, not all businesses evolve into brands. Understanding this distinction can be the difference between merely surviving and truly thriving in today's marketplace. Scaling a Small Business: Using Brand Building for a Strategic Growth Advantage When scaling a small business, owners often focus primarily on operational efficiency, product development, and sales metrics. However, Eric Malka, founder of The Art of Shaving (which was acquired by Procter & Gamble) and author of "On the Razor's Edge," suggests a different approach: "A business's only reason for existing is to generate profits for shareholders. A brand's reason for existing is to change the world." This perspective shifts the focus from internal operations to external relationships. While businesses concentrate on transactional elements like pricing, delivery times, and product features, brands foster emotional connections with consumers. These connections transcend practical considerations and tap into aspirational values. For small business owners seeking to scale, developing a strong brand identity becomes a strategic advantage. Brands command higher multiples during acquisitions, enjoy greater customer loyalty, and can weather market fluctuations more effectively than mere businesses. Small Business Lessons: The Journey from Business to Brand The transformation from business to brand doesn't happen overnight. Malka describes it as a journey with distinct phases: crawl, walk, run, fly. Each phase requires different focuses and capabilities. One of the most valuable small business lessons from Malka's experience is understanding your current phase and operating accordingly: "If you're feeling way too much stress, you're going faster than you should... There's an appropriate speed for where you are in your journey. And stress is a really important element of your gut feeling." Many entrepreneurs try to scale prematurely, leading to overwhelming stress and potential failure. Instead, Malka advocates for intentional growth, building strong foundations before attempting rapid expansion. Key Phases in Brand Development: Crawl (Foundation) : Focus on product quality and initial customer relationships Walk (Refinement) : Develop consistent messaging and identity Run (Process Building) : Establish scalable processes and build your leadership team Fly (Scaling) : Accelerate growth with significant investment For small business marketing strategies to be effective, they must align with your current phase. Attempting to implement scaling tactics during the foundation phase is likely to produce disappointing results and unnecessary stress. Entrepreneurs: Common Mistakes in Brand Building Many entrepreneurs make critical mistakes that prevent their businesses from evolving into valuable brands. Understanding these pitfalls is essential for small business marketing success. Mistake #1: Thinking You're Too Small for Branding One common misconception is that branding is only relevant for larger companies. Malka strongly disagrees: "Branding starts day zero. You're a brand day zero. You just haven't achieved the potential of that brand that's in your mind." Even the smallest business needs a clear identity, purpose, and value proposition that extends beyond its products or services. The earlier you begin developing these elements, the stronger your foundation for future growth. Mistake #2: Growing Too Quickly In today's startup culture, there's immense pressure to grow rapidly. However, this approach can be devastating for brand development. Rushing to scale before establishing your brand's core elements—such as product excellence, organizational capabilities, and distribution channels—often leads to failure. Malka notes that it took The Art of Shaving nine years to reach $10 million in revenue and another nine years to reach $100 million. This patient approach allowed them to build a brand that ultimately sold for $60 million despite operating at a loss at the time of acquisition. For entrepreneurs focused on small business marketing, this patience is crucial. Building brand equity takes time but yields exponentially greater returns than simply growing sales numbers. Mistake #3: Focusing on Revenue Over Cash Flow and Profitability Many entrepreneurs become fixated on top-line growth at the expense of sustainability. Malka advises a different priority order: Cash flow Profitability Revenue growth This approach ensures the business remains viable throughout the brand-building journey. It also reduces stress on entrepreneurs, enabling them to make more informed strategic decisions rather than constantly responding to crises. The Brand Building Process for Small Business Marketing Creating a brand rather than just a business requires intentional strategy and execution. Here's how entrepreneurs can approach this process: 1. Define Your Brand's Purpose Beyond Profit What change does your brand seek to create in the world? How does it improve customers' lives beyond the functional benefits of your products? The Art of Shaving didn't just sell grooming products; they discovered they "owned the ritual of shaving"—a deeply personal masculine experience. 2. Create Emotional Connections Successful brands forge emotional bonds with consumers. As Malka explains, "The highest form of adoption of a brand from a consumer is they steal the identity of the brand." Consider how Apple users proudly display their devices or how Nike wearers identify with the brand's values. These connections transcend product features. 3. Become a Category Leader Scaling a small business into a brand often involves becoming a dominant player in a specific niche. Rather than competing in broad markets, focus on owning a category—even if it's one you help define. The Art of Shaving didn't invent men's grooming but executed it in a way that "struck a chord" and aligned with emerging cultural trends. 4. Perfect Your Brand "Combination" Malka describes brand building as unlocking a combination safe. Every element must work in perfect synergy: Brand positioning Distribution channels Packaging Messaging Formulation/product quality Pricing Environment/customer experience When all these elements align correctly, the brand "unlocks" in consumers' minds. 5. Build a Team That Can Scale As your business transitions from the "run" to "fly" phase of scaling, having the right leadership team becomes critical. Before seeking significant investment to accelerate growth, ensure you have capable leadership across all key functions. The Value Proposition of Brand Building For entrepreneurs weighing the effort required in brand building against simply operating a profitable business, Malka offers this perspective: when he sold The Art of Shaving for $60 million, the company was losing approximately $500,000 monthly. The acquisition wasn't based on current profitability but on brand value—95% of the purchase price was for goodwill and intellectual property. This demonstrates the ultimate value proposition of brand building in small business marketing. While building a brand requires more time and strategic thinking than building a profitable business, the potential returns are exponentially higher. Final Thoughts for Small Business Owners Small business marketing that focuses on brand building rather than merely increasing sales creates long-term value that transcends current revenue numbers. By understanding the differences between businesses and brands, entrepreneurs can make strategic decisions that position them for greater success. The journey requires patience, intentionality, and a willingness to resist the pressure for premature scaling. As Malka advises, "Any speed you lack in the first couple of years, you'll make up tenfold later on." By following these small business lessons and applying these principles to your entrepreneurial journey, you can transform your business into a brand that resonates with consumers, stands apart from competitors, and ultimately commands premium value in the marketplace. Key Takeaways: Building a brand requires a different mindset than building a business. Focus on emotional connections and category leadership rather than just operational efficiency. Small business marketing should align with your current phase of development (crawl, walk, run, fly), with appropriate strategies for each stage. The most successful entrepreneurs resist premature scaling, prioritize cash flow over revenue growth, and build strong foundations before accelerating growth. Want to learn more? Listen to this episode of The Key Hire Small Business Podcast featuring Eric Malka. Learn more about Eric: https://www.strategicbrandinvestments.com Read On The Razor's Edge: https://www.amazon.com/Razors-Edge-Story-Art-Shaving/dp/B0D6HRR1JX Check out our sponsors Career Spring, Careers launch here: https://careerspring.org/ KeyHire Solutions, Be Our Next Success Story: https://www.keyhire.solutions/testimonials Connect With Us: KeyHire LinkedIn KeyHire Facebook KeyHire YouTube  KeyHire Instagram

As businesses grow, they often face a difficult challenge.  Some of the key players who helped build the company may struggle to keep up with its evolving demands. This was the focus of a recent episode of The KeyHire Small Business Podcast, hosted by Corey Harlock, featuring guest Chris Leonard, owner and principalconsultant at No Impediments. The discussion centered on the transition from personality-driven leadership, where key individuals wear multiple hats, to role-based leadership, where clear roles and responsibilities help businesses scale effectively. The Growing Pains of Leadership Has your business outgrown the capabilities of the people who helped you build it? This is a common issue for entrepreneurs. Initially, small businesses thrive on flexibility where team members pitch in wherever needed, wearing multiple hats. However, as the company grows, its demands often exceed the capabilities of these early contributors. Leaders must recognize when it’s time to redefine roles and introduce structured leadership to ensure sustainable growth. Key Insights from the Podcast 1. The Shift from Personality-Based to Role-Based Leadership Chris Leonard explains how businesses start with charismatic, high-energy leaders who take on various responsibilities. However, these individuals can become bottlenecks as the company scales. Key Takeaways: Early-stage businesses prioritize flexibility, while growing companies need clear, role-based structures. Leaders must shift from being "the face of everything" to building a strong, independent team. The transition involves recognizing when to delegate and defining clear roles for existing employees. 2. Identifying the Right People for the Right Roles A common challenge is legacy employees struggling to keep up. While their contributions were invaluable in the early stages, their current skill set may not align with the company’s needs at scale. Key Takeaways: Map out all business functions and identify where employees excel. Separate passion and competency from day-to-day responsibilities to ensure employees are in roles they enjoy and can thrive in. Avoid stretching key players too thin by assigning them responsibilities outside their core strengths. 3. The Importance of Organizational Design Leonard suggests using an Org Design Workshop to map out necessary business outcomes and align roles accordingly. Steps to Implement Organizational Design: Define Business Outcomes: Identify what results are needed for success (e.g., increasing leads, improving customer retention). Create Role-Based Responsibilities: Assign duties based on skill sets rather than personalities. Communicate Role Changes Clearly: Engage legacy employees in the transition process to ensure buy-in and minimize friction. 4. Effective Communication & Leadership Development Business owners often assume their team understands their thought process , but major organizational changes require clear communication. Key Takeaways: Don’t wait until employees struggle—start conversations early about the company’s evolution. Provide leadership development opportunities to prepare employees for their evolving roles. Use third-party facilitators (coaches, consultants) to navigate difficult transitions. Growth Requires Evolution Businesses must evolve their leadership structures to keep pace with expansion while honoring the contributions of early team members. By shifting to role-based leadership, clearly defining responsibilities, and fostering open communication, companies can scale effectively without losing their culture. To learn more, listen to this episode of The KeyHire Small Business Podcast here.

Are you thinking about selling your business? If so, you’ll need to get a valuation, and that process can seem like voodoo to the average business owner. Understanding what goes into a business valuation, the factors that impact your company’s worth, and common misconceptions can help you prepare for a successful sale. Corey Harlock sat down with Len Bruskiewitz, a business coach and exit planning advisor, to demystify the valuation process. What is a Business Valuation? Simply put, a business valuation is what a potential buyer is willing to pay for your company. The key takeaway? You don’t set your business’s value—the market does. While there are different valuation methods, the most common for small businesses is a multiple of earnings (specifically, EBITDA—Earnings Before Interest, Taxes, Depreciation, and Amortization). How Companies Are Valued Business valuations typically consider two major components: 20% External Factors: These are things like industry trends, market positioning, and reputation—elements that are visible from the outside. 80% Internal Factors: These are the intangible aspects of the business, including operations, customer base, and leadership structure. Bruskiewitz explains that the four key intangible factors that drive a business’s value include: Operational Structure –Are processes documented? Can someone else step in and run the business without the owner? Customer Base & Revenue Model –How diverse is your customer base? Do you have recurring revenue or do you rely on one-off sales? Company Culture & Leadership –Is there a strong management team in place, or does everything depend on the owner? Team Expertise & Knowledge –Does your team have specialized skills that differentiate your business in the market? The Most Common Valuation Mistakes Business Owners Make Messy Accounting –Poor financial records are a huge red flag for potential buyers. Buyers will conduct forensic accounting, so getting your books in order well in advance is essential. Owner Dependence –If your business can’t run without you, it’s not valuable to a buyer. A strong management team is critical to ensure a smooth transition. Overestimating Value –Nine out of ten business owners overvalue their companies. Many believe their business is worth 10x revenue when the market might say it’s closer to 3x earnings. How to Increase Your Business Value Before Selling If selling is in your future, start preparing now—ideally three years in advance. Bruskiewitz recommends focusing on these four areas: Personal Readiness –Define what’s next for you after selling the business, whether it’s retirement, starting another venture,or consulting. Business Optimization –Shed unprofitable services, focus on your highest-margin revenue streams, and build a scalable operation. Financial & Process Organization –Clean up your accounting, document your key processes, and start tax planning early to maximize post-sale proceeds. Leadership Development –Build a strong management team that can run the business without you. If your phone rings constantly while you’re on vacation, your company isn’t ready to sell. Selling a business isn’t an overnight decision —it requires careful planning and strategic execution. The goal? Leave on your terms, on your timeline, with the highest possible valuation. If you’re wondering where to start, Bruskiewitz offers a free business valuation calculator on his website, Greater Heights Coaching. In just 15 minutes, you can get a rough estimate of your business’s current value and actionable steps to increase it. For more expert insights on growing and selling your small business, watch this episode of The KeyHire Small Business Podcast

When it comes to connecting with customers, many experts will tell you to identify their pain points, position your service as the solution, and avoid hard selling. While this is all sound advice, there’s another level of connection that often goes overlooked— empathy . The Power of Empathy in Business Empathy is the ability to understand and share the feelings of another. In business, this means seeing your product or service from your customer’s perspective, acknowledging their challenges, and providing solutions that genuinely help them. It’s not about selling—it’s about understanding, guiding, and supporting. Jim Matuga, president and founder of Interaction Media, recently joined The Key Hire Small Business Podcast to discuss how businesses can use storytelling to connect with customers in a more meaningful way. According to Jim, most companies communicate well, but few truly connect. The difference? A compelling story that makes the customer the hero. Shifting the Focus: Your Customer is the Hero A common mistake in marketing is making your brand the star of the story. You highlight your accolades, your years of experience, and your state-of-the-art equipment. While these elements may establish credibility, they don’t necessarily connect with the customer’s needs. Instead, you need to shift the focus.Your customer should be the hero of the story, and your company should act as the guide that helps them succeed. For example, rather than showcasing a fleet of company vehicles on your website, imagine sharing a story from a satisfied customer:“Our heating system went out in the middle of winter, and within 15 minutes, they answered our call. An hour later, we had heat again. We’ll never call anyone else.” That is a story that builds trust, demonstrates reliability, and resonates on an emotional level. Establishing Authority Without Losing Empathy A crucial part of effective marketing is establishing authority—but authority doesn’t mean arrogance. Customers don’t want to hear about how great you are; they want to know that you understand their problem and can provide a solution. Jim uses the analogy of a mountain climbing guide. Imagine you arrive at base camp, preparing to climb Mount Everest. Oneguide tells you, “ I’ve never done this before, but I think we should take the east route. ” The other says, “ A storm is coming, so we’re taking the western route. I’ve done this climb dozens of times, and I have the supplies and experience to get us there safely. ” Which guide would you trust? Authority isn’t about boasting—it’s about showing customers that you understand their challenges, have a proven track record, and are prepared to help them navigate their journey. Mistakes to Avoid When Connecting with Customers Even with the best intentions, businesses often make mistakes when trying to connect with their customers. Here are a few common ones: Focusing too much on your brand –Instead of listing your achievements, showcase customer success stories. Overcomplicating the message –Keep it simple. Customers should immediately understand how you can help them. Failing to listen –Take the time to understand customer needs before offering a solution. Being inconsistent –Your messaging across different platforms should feel cohesive and authentic. Ignoring feedback –If your marketing isn’t resonating, adjust based on customer reactions and engagement. How to Get Started: Practical Steps If you’re looking to improve the way you connect with customers, here’s where to start: Embrace storytelling–Use real-life examples of how your product or service has helped customers. Leverage technology –Tools like AI-powered content generators can help craft compelling messages. Be where your customers are –Identify the social media platforms they use most and engage there. Listen and adapt –Pay attention to feedback and adjust your approach accordingly. In today’s business world, empathy is one of the most powerful tools you can use to connect with customers. It transforms marketing from a transactional process into a relationship-building experience. By making your customer the hero, demonstrating genuine understanding, and guiding them toward success, you can build trust and loyalty that lasts. Want to learn more? Listen to this episode of The Key Hire Small Business Podcast featuring Jim Matuga

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