Join Dr. Jeffrey Ricken in conversation with Art Klebba, a seasoned SCORE mentor with 40+ years of business experience. Art shares invaluable insights on starting and growing successful businesses, including funding strategies, partnership best practices, and exit planning.
Key Topics: ✓ Why you don't need a college degree to start a business ✓ The power of sweat equity and long-term thinking ✓ How to avoid under-capitalization (the #1 cause of business failure) ✓ Partnership agreements: why 50/50 splits don't work ✓ Building lasting customer relationships that span decades ✓ Market research essentials before launching ✓ Exit strategies and business valuation ✓ Free SCORE resources for aspiring entrepreneurs
Art successfully built and sold multiple healthcare companies and now dedicates his retirement to mentoring the next generation of business owners through SCORE—a nonprofit partner of the U.S. Small Business Administration.
Here are three excellent quotes from Art Klebba:
1. On Partnership Structure: > "Probably the most important thing in any partnership is having a written document that really outlines the partnership. A 50-50 partnership is really not always the best way because if there's a final decision that needs to be made, someone has to make that. There has to be a final decision maker."
2. On The Power of Listening: > "One of the most important skills in any business is a listening skill. You have to not be talking. You have to hear what the customer's saying. Listen, listen, listen."
3. On Understanding Your Market: > "Know your market. Know your customer. Who is your customer? And specifically, what value will you bring to that customer with your product or service? You have to give solid reasons, not just because you're a nice person, but because that doesn't sell anything. You have to have value of the product or service that you're offering."
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