You’ve heard a lot from me recently about the importance of working ON your business – rather than just IN it – and setting aside time every week to do so. One of the best uses of that time is starting – if you haven’t already – and developing your exit plan. “Why?” you ask. …
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As business owners and leaders, we know that working ON your business (not just IN it) is the key to keeping your company on track, moving in the right direction, achieving success, and sustaining growth. It is easier said than done, but there are specific actions you can take to make this process a habit. …
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In my most recent blog we delved into Patrick Lencioni’s concept of “Working Genius.” Lencioni 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 advocates that these qualities are crucial to all businesses. In this blog, we take …
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The right skills and knowledge are obviously essential if job roles are fulfilled well. But according to Patrick Lencioni, author and creator of The Six Types of Working Genius, there is more required – that cannot be bought or learned – for truly excellent individual performance, which translates into success as a company. Lencioni has identified …
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As a business owner and leader, working ON your business – not just in it – is imperative if you’re going to keep your company on track, moving in the right direction, and reaching the milestones identified for your success and sustained growth. What does that entail? Working ON your business can be summarized as …
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Exit planning is focused largely on optimizing the value of the business, which means you need an understanding and a focus on value drivers. Why is this necessary? The initial steps in an exit plan are straightforward: Choose an exit date. Document foundational information about the company and your exit objectives. Obtain a current valuation …
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If you started 2024 with New Year Resolutions but have struggled to stick with them, there may be good reasons. Some of the reasons people fail at NYRs may also be why business owners might fall short of their goals. These include things like: Too little commitment, not a priority. Not enough time or it …
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Business owners are accustomed to reading and hearing about exit planning, yet there is often a misunderstanding that it is a cumbersome project that will take time away from running a business. Instead, exit planning is simply a component of good business that yields a more comprehensive business plan, clarifies goals, and improves your likelihood …
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A look back at this year brings to light three significant areas in which – as a result of their participation in the Exit Planning Peer Advisory Board (PAB) – our members saw positive differences in their companies and in their growth as business owners. Consider these elements as you build a solid foundation for …
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I recently was asked by a colleague, “When you first engage with a business owner, what’s their perception about how difficult it is to sell a business?” More often than not, selling a business is an overwhelming concept to a business owner and is behind the multiple reasons we hear from owners who argue that …
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