Patrick Lencioni, author and creator of The Six Types of Working Genius, has identified six gifts, or talents, which are innate to individuals, regardless of their level of training or the positions they hold in a company. He refers to these as “Working Genius” qualities that all businesses need and maintains that, without them, a company …
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Employees are appreciating assets and a stable workforce is typically the #1 business value driver. Many companies are currently faced with this reality, challenged with retaining their existing workforce and attracting qualified workers to fill vacated positions. As the Great Resignation illustrates, the workforce as a whole is shifting. Workers’ priorities and real needs have …
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It’s an essential element of business: preparing an annual budget enables you to evaluate your spending, anticipate future needs, and stay on top of profits and cash flow. It is also a time-consuming task that many business owners dread and postpone. The value of a data-based, dynamic, working budget can mean the difference in whether …
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After completing assessments and documentation, choosing her exit date, and working with me to develop an exit strategy, one of my clients is now in the process of executing that strategy. Her primary focus at this stage is on evaluating and optimizing the performance of the value drivers that impact her business. Enhancing performance in …
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My recent blog, Prioritizing Value Drivers in Your Exit Strategy, reviewed the general process of developing an exit plan and beginning to execute that strategy. The process involves optimizing your company’s value drivers – business systems that generate either recurring revenue or financial efficiencies from an established, growing customer base and those internally controlled activities, …
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One of my clients wants to sell her business and retire in 10 years. She completed our online Owner Planning Checklist which got her thinking about next steps. Since then, she has chosen her exit date, thinks she’d like to sell to an outside, third party, and has documented foundational information about her company and …
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The concept of “Ownership Thinking” is founded on Brad Hams’ philosophy and methodology of building business wealth by instilling a mindset of ownership among employees. His Ownership Thinking model is the foundation of his business and book – both by the same name – which guide companies to unleash their potential by providing the training …
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The term “Ownership Thinking” (OT) is likely best known as the title of a book. But it’s also a business, and a mindset. The Denver area business came first, founded by Brad Hams in 1995 after several years of developing the Ownership Thinking model. Its goal was to help businesses unleash their potential by providing …
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Once you’ve chosen an exit date, your attention should turn to value drivers – those activities, capabilities, or qualities that add worth to your company and that are under your control. Adding worth includes increasing profitability, reducing risk, and promoting growth consistent with your strategic goals. Optimizing performance in key areas of your business will …
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All business owners know they will eventually exit their business, and most understand that making it happen on their terms is a process that typically takes years. Yet, as is the case with any complex project, sometimes the hardest thing to do is start. Yet, starting is as simple as choosing your exit date! I …
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