Supercharge Your Small Business Growth with Smart Acquisitions

July 29, 2024
  • Acquisitions can quickly grow small businesses by opening up new markets, bringing in new customers, and getting ahead of competitors.
  • It's vital to thoroughly assess the value of a business you want to acquire. This means digging into its assets, debts, and standing in the market.
  • Acquiring another business comes with legal hurdles. It's wise to get expert advice to navigate through the process smoothly, including working out the deal's details and handling permits.
  • After buying a business, merging it successfully requires careful planning. Focus on the staff, tech, and how you talk to customers to keep everyone happy and loyal.
  •  It's also important to handle any cultural differences and make sure key staff stick around. This helps keep the business valuable and running smoothly after the merger.

697 words ~ 3.5 min. read 

In the quest for growth, small business owners and entrepreneurs often focus on organic strategies like marketing, sales, and product development. But there's another powerful strategy that can catapult your business to the next level—acquisitions. This article will walk you through the ins and outs of business acquisitions as a small business growth strategy. You'll learn how to identify potential targets, assess their value, finance your acquisition, and successfully integrate the new business into your existing operations.

 

Why Consider Acquisitions?

Acquiring another business may seem daunting, but it offers compelling benefits. It provides immediate access to new markets and customers, allowing you to inherit an entire customer base overnight. Additionally, acquisitions can diversify your product or service offerings, enhancing resilience against market fluctuations. They can also eliminate competitors, increasing your market share. To identify potential targets, look for businesses that complement your operations, like a coffee shop for a bakery. Use industry reports and networking to find opportunities that add value to your business.

 

Evaluating the Value of a Target

Identifying a potential acquisition target requires evaluating its value beyond financial statements. A comprehensive due diligence process examining assets, liabilities, customer base, and market position is crucial. Consider a professional valuation for an accurate business worth. Financing challenges include options like bank loans, seller financing, and private investors, with SBA loans as a possibility for small businesses. Choosing the right financing option is essential for alignment with financial and growth goals.

 

Navigating the Legal Landscape

The legal aspects of business acquisition can be complex. Key considerations include negotiating the purchase agreement and transferring licenses and permits. Hiring an attorney with experience in business acquisitions can help you address these legalities effectively, ultimately preventing future disputes and ensuring a smooth transition.

 

Creating a Transition Plan

A detailed transition plan is essential for integrating the acquired business into your operations. Focus on key areas such as staffing, technology integration, and customer communication. The aim is to create a seamless experience for employees and customers, which is vital for maintaining morale and loyalty.

 

Retaining Key Employees

Human capital is one of the most valuable assets in an acquisition. To ensure stability, focus on retaining key employees from the acquired business. Offering competitive compensation and engaging in open communication will encourage these valuable team members to stay, bringing their experience and knowledge to the new organization.

 

Communicating with Customers

Transparent communication with customers during the acquisition process is crucial. Inform your existing customers about the acquisition and its implications for them. Additionally, reach out to customers of the acquired business to reassure them of continuity and highlight any expected improvements. Maintaining trust and loyalty during transitions is essential.

 

Leveraging New Market Opportunities

Acquiring another business provides access to new markets that can significantly boost revenue. Utilize this opportunity to cross-sell products or services to the new customer base. Conducting thorough market research can help you understand the needs of these new customers, allowing you to tailor your offerings effectively.

 

Enhancing Operational Efficiency

Acquisitions can lead to increased operational efficiency. By integrating resources, you can achieve economies of scale that lower costs and enhance profitability. Evaluate areas such as supply chain management, marketing, and administrative functions for potential integration to streamline processes and realize cost savings.

 

Managing Cultural Differences

Integrating an acquired business necessitates managing cultural differences. The culture of an organization significantly influences employee satisfaction and productivity. Take time to understand the culture of both businesses and work towards harmonizing them. Activities such as team-building and encouraging open dialogue can facilitate a unified corporate culture.

 

Monitoring and Measuring Success

To assess the success of the acquisition, establish clear objectives and track your progress through key performance indicators (KPIs) such as revenue growth and customer retention. Regularly reviewing these metrics ensures that the acquisition meets its expected benefits, allowing you to make adjustments as necessary.

 

The Takeaway

Acquisitions can serve as a powerful growth strategy for small businesses. By carefully identifying potential targets, evaluating their value, securing appropriate financing, and effectively integrating the new business, you can enhance growth and competitiveness. Whether your aim is to expand market reach, diversify offerings, or eliminate competition, acquisitions present the opportunity needed for greater success.

---

The Leavenworth-Lansing Area Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike. The Chamber has been granted license to publish this content provided by Chamber Today, a service of ChamberThink Strategies LLC.

Legacy and Longevity: A Playbook for Owner-Operators Who Think Long-Term

April 21, 2025
Smart business owners know: legacy starts long before exit. Growth rooted in values builds staying power. Your wisdom is an asset—document it and pass it on. Deep community ties are part of your long-term equity. Succession is strategy, not retirement. 616 words ~ 3 min. read Legacy and Longevity: A Playbook for Owner-Operators Who Think Long-Term You didn’t build this business just to make money. You built it to make a mark—to create something that outlasts your time at the helm. That’s legacy. And the smart owner-operators know: legacy starts long before you hand over the keys. Whether you’re five months or fifteen years from stepping back, building a legacy business means making intentional decisions now that will pay dividends later. Lead With Values Values aren’t soft—they’re strategic. Businesses grounded in clear principles like craftsmanship, fairness, and community trust outperform their peers according to HBR . Ask yourself: Are your hiring decisions, customer experiences, and product standards aligned with what you believe in most? If not, that disconnect is eroding trust—and legacy. Values-led growth is sustainable growth. Codify Your Wisdom Your experience is one of your greatest assets—but too often, it lives only in your head. That’s risky. Start documenting the systems, instincts, and insights that drive your day-to-day: Record process videos for training. Create standard operating procedures. Mentor rising leaders intentionally. Your know-how is your company’s operating system. Treat it like intellectual property—and invest in transferring it. Root Yourself Locally Legacy is measured by what your business means to your community. Owner-operators are often local anchors—supporting schools, mentoring entrepreneurs, and sponsoring events. These efforts build goodwill, strengthen brand loyalty, and deepen your impact. Investing in your local ecosystem isn’t charity—it’s long-term brand equity. Plan Beyond Yourself Succession isn’t about stepping away—it’s about strengthening your business for the future. Here’s a simple way to begin: Legacy Planning Starter Pack - Identify: Who could lead in your absence? - Document: Start with one key system per week. - Align: Meet with a financial or legal advisor about timelines. - Even if you’re years away from a transition, having a plan brings clarity and confidence—to you and your team. The Takeaway Trends change. Markets shift. But a business built on values, people, and purpose? That sticks. Legacy isn’t what you leave behind. It’s what you build—day by day. This playbook isn’t about retiring—it’s about leading with intention, every step of the way. --- The Leavenworth-Lansing Area Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike. The Chamber has been granted license to publish this content provided by Chamber Today, a service of ChamberThink Strategies LLC.

TikTok for Small Business: How to Start Selling Today

April 21, 2025
With over 1 billion users worldwide and a rapidly growing e-commerce ecosystem, TikTok has become a powerful platform for small businesses and solopreneurs to reach new audiences and boost sales. Whether you’re a boutique owner, a skincare brand, or a service provider, or someone with an under 40 audience, TikTok offers a unique way to connect through short-form, engaging video content. But getting started—especially if you're new to the platform—can be intimidating. It can feel like walking into the cafeteria on the first day of high school when you don’t know anyone. You feel like you’re one lame comment away from ruining your career. But don’t worry. There’s a lot of potential out there. And who knows? You might even have some fun. This guide breaks down the basics of selling on TikTok, best practices for beginners, what to avoid, and concerns about the platform’s uncertain future in the U.S. Getting Started: Everything You Need to Sell on TikTok New to TT? Or still working on building an audience. We have you covered. Follow the steps below to get your ecommerce working. 1. Create a Business Account Switch to a TikTok Business Account in your settings. This unlocks analytics, a product showcase tab, and access to TikTok's Ads Manager. It will also impact what music you can use in your videos (say good-bye to most trending audio) but it’s a tradeoff that you’ll benefit from. Other benefits include: a clickable website link in your bio immediately as a business account as opposed to an individual account that requires 1,000 followers before you can do that; business accounts have an option to add a business category and contact email; and business accounts have a customizable auto-reply message for DMs (in some regions). 2. Set Up TikTok Shop (if eligible) TikTok Shop allows you to sell directly on the platform. To use it, you must meet eligibility requirements (which vary by region), including proof of identity and a business license in some cases. 3. Connect a Product Catalog If you’re using Shopify, WooCommerce, or BigCommerce, you can integrate your product catalog with TikTok for easy promotion and tagging. Best Practices for TikTok Selling for Beginners TikTok may not work for every industry, but if you’re in health/beauty or clothing and accessories, you should probably give it a whirl. In 2024, U.S. sales in TikTok Shop for health and beauty totaled $1.34 billion, and apparel and accessories sales reached $1.01 billion. Ad that’s not including stats from individual influencers! While there is no formula to become a viral sensation on this platform, and results will vary by audience and niche, there are several best practices you’ll want to stick with: Prioritize Authenticity Over Perfection TikTok thrives on real, relatable content. You don’t need a production studio—just good lighting, a phone, and your personality. People want to see the face behind the brand. Some of the most popular sales videos are just people talking about products they like and why. Use Trends—but Make Them Yours Jumping on trends (songs—this ability could be impacted by switching to a business account, memes, challenges) can help your videos go viral—but add your own spin. Tie the trend back to your product or service in a way that feels natural. And to use some eighties vernacular—you don’t want to look like a poser, jumping on the bandwagon. If you are going to jump on the bandwagon, make it memorable. Play around with the ideas of “this trend AND…” Post Consistently and Experiment Aim for 3–5 posts per week, more if you can. Try product demos, behind-the-scenes clips, customer testimonials, or how-tos. Try a few posts that show your personality even if they don’t directly mention your product or service. People are, after all, on the channel for entertainment. Pay attention to what performs best and adjust accordingly. Keep in mind many people have become “TikTok famous” out of sheer consistency. Showing up in someone’s feed every day is going to help them recognize you and know you, making it easier to eventually buy from you. Add a Clear Call-to-Action (CTA) Whether it's “Click the link in bio,” “Check out our TikTok Shop,” or “Follow us for more,” always guide the viewer to the next step. Much of the time they’ll do it if they enjoyed what they watched. Leverage TikTok Creator Tools Use tools like the TikTok Creative Center, Video Editor, and CapCut (free and paid versions) to polish your content. TikTok also offers tutorials and inspiration in the Business Learning Center. Engage With Comments and Other Creators Reply to comments with videos, duet with other creators, or jump into conversations in your niche. The more you engage, the more the algorithm will favor your content. Use Captions, Hashtags, and Keywords Captions and hashtags help TikTok understand and categorize your content. Use niche-specific hashtags (#SmallBusinessCheck, #TikTokMadeMeBuyIt) and keywords in your captions. Things to Avoid There are some things that don’t cut the mustard on TikTok. Stay clear of: · Overly Salesy Content . People scroll TikTok for entertainment. Hard-selling turns people off. Think storytelling first, selling second. · Ignoring Analytics . Use TikTok’s analytics to understand what content works best—and when your audience is most active. · Low-Quality Video . Blurry, dark, or hard-to-hear videos won’t keep viewers around. Basic lighting and audio matter. · Neglecting Your Profile . Make sure your bio clearly states what you offer. Include a link to your website or TikTok Shop. · Inconsistent Branding . Even if your videos are informal, aim for a consistent tone, aesthetic, or message. Is TikTok at Risk of Being Banned in the US? Yes, there is some concern over TikTok’s future in the U.S. due to national security debates and bipartisan legislation. While the app is still fully functional, businesses should diversify their digital presence, which is good advice for any platform that you don’t own. You should: · Repurpose your TikToks on Instagram Reels and/or YouTube Shorts. · Grow your email list to maintain a direct line to customers. Social media platforms can become unpopular (or get banned). You want to be able to reach your audience. · Drive traffic to your website or online store whenever possible. In short, use TikTok as a growth tool—but don’t rely on it as your sole sales engine. TikTok Is a Tool, Not a Magic Wand If you're new to TikTok, be patient. Building an audience takes time, but the payoff can be enormous—especially for small businesses with niche appeal and a story to tell. Start small. Be consistent. Show up as yourself. And don’t forget to have fun. That’s what TikTok is all about. ------ Christina Metcalf is a writer and women’s speaker who believes in the power of story. She works with small businesses, chambers of commerce, and business professionals who want to make an impression and grow a loyal customer/member base. She is the author of The Glinda Principle , rediscovering the magic within. _______________________________________ Medium: @christinametcalf Facebook: @tellyourstorygetemtalking Instagram: @christinametcalfauthor LinkedIn: @christinagsmith

The Smarter Way to Grow Customer Value

April 15, 2025
Growth isn't about getting more leads—it's about making more of the customers you have. Alex Hormozi's Four R's—Retain, Review, Refer, Resell—focus on post-purchase impact. Traditional marketing builds attention. Hormozi's model builds revenue. Combine both strategies for stronger loyalty, social proof and long-term profitability. Focus on what happens after the sale—it’s where the real growth begins. 623 words ~ 3 min. read You’re working harder than ever to win new customers—but revenue still feels flat. The problem isn’t reach. It’s what happens after the sale. That’s the insight behind entrepreneur and author Alex Hormozi’s approach to business growth. While traditional marketing focuses on building awareness and brand image through the classic Four R’s— Reach, Reputation, Renew and Refer —Hormozi shifts the focus to what drives real revenue: Retain, Review, Refer, Resell. Don’t Just Fill the Funnel—Squeeze It Traditional marketing strategies are built to attract leads. They’re critical, especially for new or growing businesses. But without a strong back end, you’re pouring new leads into a leaky funnel. Hormozi’s model aims to fix the leak and turn one-time buyers into long-term profit centers. Here’s how each step works: Retain: Loyalty Is the Real Growth Hack Customer retention is one of the most reliable ways to increase profitability. A Harvard Business Review study found that improving retention by just 5% can boost profits by up to 95%. Businesses often overinvest in attracting new customers while underinvesting in the ones they already have. Retention means strengthening relationships and solving problems before they cause churn. Review: Let Your Customers Sell for You Social proof sells. According to BrightLocal, 98% of consumers read online reviews for local businesses. Reviews build trust, shorten sales cycles and improve conversion rates. Hormozi’s advice? Make it easy for customers to leave reviews, and make sure those reviews are visible. Refer: Turn Fans Into a Growth Engine Referral programs aren’t new—but most aren’t executed well. A structured, incentivized referral system brings in leads who already trust your brand. Referred customers typically convert faster and stay longer, making them more profitable over time. Resell: Serve More, Sell More It’s easier to sell to an existing customer than to a new one. Yet many businesses stop after the first transaction. Hormozi emphasizes the importance of upselling, cross-selling and solving additional customer needs. Your warmest leads are already in your pipeline—keep serving them. A Real-World Example Consider a local fitness studio. Instead of spending thousands each month on paid ads, they focused on automating reviews and rewarding referrals. Six months later, their revenue had doubled without increasing lead volume. The secret? Maximizing the value of their existing customer base. Combine the Old and the New This isn’t about ditching traditional marketing—it’s about completing the strategy. Use Reach and Reputation to build awareness, then activate Hormozi’s Retain-Review-Refer-Resell loop to drive repeat value. Here’s a quick comparison: Marketing R's: Reach → Reputation → Renew → Refer Growth R's: Retain → Review → Refer → Resell Together, these models form a full-circle approach: Attract, deliver, retain, and expand. Try This: One R at a Time This week, choose one of the Four R’s and put it into practice. Start with Retain: What would make your best customers stay three months longer? Growth doesn’t just come from new eyes—it comes from deeper relationships. It’s time to stop chasing leads and start growing value.  --- The Leavenworth-Lansing Area Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike. The Chamber has been granted license to publish this content provided by Chamber Today, a service of ChamberThink Strategies LLC.