MSNBC Your Business To The Rescue
I am so lucky! I have already done a half dozen “biz rescue” shows now. I hosted the pilot show called Bailout!, which unfortunately never made it to the airwaves. I also lead the business rescues segments for MSNBC’s Your Business. On the most recent episode I was tasked with going into a struggling Bed and Breakfast in Connecticut. The owner, Erika Hill of Abbey’s Lantern Hill Inn, was stuck working countless hours in her business. The only way she could make more money was to work more hours. She was stuck in the time for money trap. But after a team of experts and I shared some tips for running her bed and breakfast, she was able to spring free of the trap (permanently, I hope).
Tips For Running A Bed And Breakfast (or any business)
The goal for any business in this situation is to find what is already working and what is not. Then, systematize what works and jettison what isn’t. The process is simple, the execution is the hard part. In the video below, you will see exactly what happened. And perhaps you can discover tips to use in your own bed and breakfast too!
Great example of how a business needs to be run or it runs you! Great changes made – her revenue and life should soar!
Agreed. She should be on a roll now!
So true, Lawrence.
Great business makeover – we’ve all felt like a hamster in a cage at some point. Good tips for getting out of that rut and into a more traditional business model that works for the business owner. Wish I could taste Erika’s french toast…yum!
The french toast was INSANE. It was soooo good!
Great make over Mike!!
Thanks Sarah!!!!
I would love to see a follow up with her in 6 months! This was a lot of fun to watch, Mike. Great work.
That is a great idea. I want to do the follow ups in the worst way!
Great makeover! It’s amazing she never got sick! Her business would have completely shut down. I would agree with Tea…it would be fun to see a follow up with Erika in 6 months to see how she’s doing.
Fantastic makeover of this B & B biz! Sometimes, we are just too close to our businesses to be able to “see” how to improve it. It is great that the owner could tolerate giving up her control and being open to the suggestions by your professional advisors.
Awesome! I’d love to hear her transformation in time savings and income… kind of an “after” video. I’m goal oriented! I gotta know!
Great job Mike! It’s so funny that I found this series and reconnected with you (reading The Pumpkin plan now!), the same month I finally launched my own similar idea show #SparkleSOS that looks specifically at a turnaround of effective social media activities for businesses struggling. BTW – Pumpkin Plan is all brilliant (Sparkle)!
Debbie
Her approach to accounting is sooooo scary. But sooooo common. I’d like to see links to these “experts’ and similar sites where we could learn more. It’s nice to see this gal benefit, but we want to apply those tips too! Love that it went from disaster to divine in just a couple of days. Great job! Looking forward to more episodes!
Good segment and ideas. I especially liked the hub and spoke pictograph, and was expecting a hamster wheel reference. The vanilla is a great idea and she should look into bottling and selling small samples to guests who stay with her and love the French toast. I also think the vanilla topping would be great on icecream… Keep up the good work Mike!
Brilliant maker Mike! I too sometimes need to step away and let others do their thing, so I can focus and move onward… – Susan
Great lesson in “investing” in your business by delegating responsibility to professionals who in the end will give you more time to focus on money producing activities.
Fabulous biz makeover!
Great video Mike!!!!
Thanks Susan!!!!
Great show Mike – packed with great practical tips that not only will transform her business, but leave us, the viewers with valuable perspective and transferable knowledge we can apply to better our own businesses.
Great show – really shows how small business owner get into a tail spin trying to keep up and great direction on how to turn it around and manage the business instaed of being run by it! Nice job hosting!