The Moneyball Entrepreneur

Written by John D. Buerger, CFP®.

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John Buerger

The movie, "Moneyball" is by far the most inspirational movie for business owners that has come out in years.

That's right. I said "business owners," not "baseball fans." Because "Moneyball" is really about the last entrepreneur in the baseball business - Billy Beane - the Oakland A's manager who changed the game in 2002.

Here's the trailer:

Innovate

"A proprietor (as described by Peter Drucker) is a business owner who pretty much adds nothing meaningful to the business category they address ... They don't redefine the concept."
~ as spoken by Jay Abraham

What the "entrepreneur" does (also according to Drucker) that the business owner does not do is redefine the concept.

Billy Beane changed baseball forever with sabermetrics (focus on statistics rather than traditional methods for judging players). He also took a lot of flack for sticking with his innovative process - the part of the story the movie captures the best.

The Lesson

From my perspective as a Business Coach (now going on my 15th year of helping business owners and entrepreneurs), the willingness to redefine or completely invent your business is an important key to business success, especially in these times.

There are too many other businesses offering what you offer ... and probably at competitive prices. Combined they have more advertising and marketing dollars to spend, so they will drown out your own message. Collectively, they likely have been in the space longer and established a stronger position in the mind of your potential clients / customers / patients, so that is an uphill battle, too.

If there is nothing unique or special about what you do or the products you offer, there is no reason for anyone to show allegiance to you. At that point, what you offer is a commodity and the only defining factor becomes price. Especially when you are a small business, it is virtually impossible to win a price war, especially with bigger opponents.

The Other Lesson

Billy Beane knew that a team like the Athletics (with a $41 million payroll) COULD compete with the big-money teams like New York and Boston ($100+ million payrolls) IF Oakland changed how the game was played. That is the story behind "Moneyball" and it is told brilliantly (almost restored my faith in Hollywood film-making).

What was most interesting to me though was that Billy turned down a lucrative offer to run his system with a big-money team (the Red Sox offered him $12.5 to be their manager). He is still trying to beat those teams, even though he no longer has the edge.

Being an innovator gives you (David) the edge to beat your competition (Goliath) ... but it no longer works when Goliath has the same weapons that you have.

John

John Buerger is a Business Coach and CERTIFIED FINANCIAL PLANNER™ professional. As a specialist in resource management, he helps clients (entrepreneurs and business owners) take a strategic approach to getting the most from their investment of money, time and energy - the Big Three of Business (and Life) Resources.

What SLO Business Needs

Written by John D. Buerger, CFP®.

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John Buerger

I have been an entrepreneur most of my life, although I did (basically) take a dozen years off while I worked for others in the radio broadcasting industry (putting my freshly printed college degree to good use, huh).

Since 1993, Allyson (my wife) and I have owned a retail business in Atascadero that does custom picture framing, home decor and gift items. Check out Accents the next time you are in our area. It is a uniquely wonderful retail experience.

Birds of a Feather

Business owners and entrepreneurs tend to hang out with each other - we have similar belief systems and independent-minded tendencies. Because of the success of our stores (we had two) in the mid-1990's, I found myself sharing my best practices with other biz owners. It wasn't until years later it dawned on me that I was giving away valuable information for free, so around the turn of the century (I've always wanted to use that phrase) I started ALTUS Business Solutions and began charging clients as their Business Coach.

A couple years later I discovered financial planning. Since then I have poured ALL of my efforts and resources into helping business owners with their personal finances (rather than business management) while building up my Wealth Coaching practice.

Filling a Void

Today - by request of a number of current financial planning clients and because there is a need in the marketplace - I am formally announcing my return to offering Business Coaching services in addition to continuing my work as a Wealth Coach and financial planner.

What Makes Success?

In all these years of working with business-owner financial planning clients, attending chamber mixers and network meetings (formal and quite informal) and just hanging out with my entrepreneurial friends, I have seen a lot of businesses come and go. Some should have rocketed to national success, but didn't. Others died almost before they were hatched for good reason. A few are still around today and growing even in this challenging economy.

There is a reason the good businesses survive - and that reason has nothing to do with having a better idea. The reason good businesses survive and even thrive in challenging economies is because they are strategic in their approach and execute well on their strategy. Of all the times you should be working "ON" your business, the best time to make those investments often is when things are their toughest.

How The Great Depression Wasn't

Did you realize that the greatest number of millionaires started out during the Great Depression? A sizable number of today's top companies first cut their teeth in the Bear Market recessions of the 1970's.

There is never a better time to build a great business than when everybody is whining about how bad things are and telling you that you can't make it.

Free Resources

If you are like I was back in 1993 (hungry, poor and just starting out), you probably want to know about free resources.

When we first bought the store, we went to SCORE (Senior Corp of Retired Executives) and they were a big help for us. The SLO Economic Vitality Corporation also does great work today (they weren't around back then).

In San Luis Obispo, there have been business consulting firms around, but for some reason right now nobody is there at the local level to help the small-medium sized business owner (under $2 million gross revenues) build and manage their enterprise on a one-on-one coaching basis.

What We Offer

So if you are small business owner and you would like some perspective on how to manage your business, grow your income, improve efficiency and profitability or just enjoy a more harmonious relationship with your clients-customers and employees, we have a process that will give you all that and more.

And while I won't suggest that we can eliminate every one of your problems or challenges in this economy, we can put you in the driver's seat when it comes to the future success of your business venture.

John

ALTUS Wealth Solutions offers Business Coaching services at a reasonable cost - to help you get control over your business before it takes control of your life. Call 805-476-0333 to schedule your FREE 10-minute Business Accelerator Assessment.

John D. Buerger, CFP® is a Business Coach and CERTIFIED FINANCIAL PLANNER™ professional, helping business owners and entrepreneurs get control over all the money running through their fingers every day.

CFP®

CERTIFIED FINANCIAL PLANNER™ professional

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