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Million Dollar Year Blog

"Successful entrepreneurs are not satisfied with status quo. They are constantly looking for new opportunities to improve their current situation and increase their impact." 
Robert Gauvreau

One Way To Decide When To Sell

How do you know the right time to sell your company? One answer to this age-old question is that the time to sell is when someone else is willing to invest more in your business than you are. ...

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One Tweak That Can (Instantly) Add Millions To The Value Of Your Business

If you’re trying to figure out what your business might be worth, it’s helpful to consider what  acquirers are paying for companies like yours these days. 

A little internet...

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Run Your Business Like You’re Going on Maternity (or Paternity) Leave

How well does your company run when you don’t show up for work?  

The answer to this question has a significant impact on the value of your business. Suppose your  company...

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How To Inoculate Your Business From The Dangers Ahead

A new decade always comes with a slew of predictions that can be scary. Will a new superbug take hold? Will the stock market crash? Will the economy tank? 

These are all excellent questions,...

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The Downside of Being a “One-Stop Shop”

Before Jeff Bezos & Co. blew up traditional distribution channels, there was some value in being  the local guy or gal. Being the local product retailer was a good business and being a...

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One Counterintuitive Strategy Led to This $380 Million Payday

When David Perry started his video game company, he filled a dartboard in his office with the names of companies he thought would want to buy his company, Gaikai, one day.  

Why would a...

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Market Share vs. Addressable Market

Imagine you’re a farmer and you’ve been tending to your crops all year. It’s  harvest season and finally time to collect the spoils of your labor.  

You start...

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How Your Greatest Strength Becomes Your Weakness

What’s your greatest strength as a CEO? 

Sales? 

Marketing? 

Operations? 

Whatever you do well, know that it might become your Achilles’ heel. As owners, we tend...

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How to Avoid the Switzerland Valuation Discount

The Swiss are known to value their independence. They don’t use the Euro currency despite  being sandwiched between France and Germany, and they never officially picked sides in...

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How To Avoid Disappointment When It's Time To Cash Out

How do you avoid not being disappointed with the money you make from the sale of  your company? 

Perhaps you’ve heard that companies like yours trade using an industry rule of thumb...

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