On this episode of The Small Business Radio Show…
SEGMENT 1 with Chris Cicchinelli, starting at 0:00: How do you grow a $1M business your mom started and take it to $350M? Chris Cicchinelli joined his mother’s business when she asked him for help growing her female-centric company. But what made him think he could be successful? And how did he actually do it?
SEGMENT 2 with Kevin McArdle, starting at 17:00: Some of the hottest businesses are the ones that operate on a subscription model, such as many software as a service (SAAS) businesses d0. They sell the customer once and the customer continues paying every month. What are strong markers of success for these types of businesses and what strategies lead to growth?
SEGMENT 3 with Tiffany Hughes, starting at 35:45: Divorce under any circumstances is a messy and ugly thing. But it gets worse when you have a small business and you’re divorcing your business partner or your business partner is your spouse. Tiffany Hughes is here to help small businesses navigate these messy challenges, and hopefully prevent them from happening in the first place.
Sponsored by AT&T Business
More on each segment below.
Segment 1: Chris Cicchinelli is CEO of Pure Romance and the author of the best-selling new book, The Secret Is YOU. Hard work and strategic risk-taking have been at the core of his success across the nearly two decades since he joined Pure Romance in 2000. Chris has overseen expansive growth, taking the company from $1 million to $350 million in annual revenues.
1:30 – How did you grow your mother’s business from $1M to $350M?
4:45 – What’s the founding story of your mother’s business?
6:15 – How did you get involved and why did you decide to stay?
9:15 – What type of person is successful as an ambassador for Pure Romance?
10:30 – We have to practice key habits to be successful.
12:15 – Successful businesses are about forming lifetime relationships.
Segment 2: Kevin McArdle is the Co-founder and CEO of SureSwift Capital.
17:00 – Why is SAAS such an attractive industry?
18:45 – What kind of SAAS businesses do you look for to purchase?
21:15 – What metrics are important?
24:30 – How do you find these SAAS businesses to purchase?
26:30 – Why acquire SAAS businesses instead of building them yourself? How do you grow the revenue of these companies?
30:00 – What leads to growth for SAAS businesses?
31:15 – What problems can come up when you acquire a business?
Segment 3: Tiffany Hughes is a divorce and family lawyer. The founding partner of The Law Office of Tiffany M. Hughes, Tiffany Hughes is recognized as an experienced and passionate advocate on behalf of her clients in the area of Family law. Tiffany handles matters from beginning to end, including litigation when needed and settlement when available. Tiffany has successfully litigated matters in high estate divorce cases, trials under the Illinois Domestic Violence Act, trials regarding allocation of parental responsibility (formerly known as custody), visitation, child support, maintenance, complex tax issues, post decree matters and more. Tiffany’s passion is protecting children and ensuring that her clients achieve the desired results.
35:45 – Has COVID contributed to an increase in business for divorce lawyers?
37:00 – Are prenuptial agreements important for small business owners?
39:30 – What about shareholder agreements and postnuptial agreements?
42:15 – Are prenuptials and postnuptials common?
45:00 – How do you determine the value of a business that is owned by disagreeing spouses?
48:00 – How to test the validity of a prenuptial agreement.
50:30 – How often are prenuptials invalidated?
