Exit & Transition
Setting Up Your Business To Run Without You
Most business owners don’t wake up one day and say, “Today’s the day I’m out.” Transitions — whether it’s a sale, succession, or stepping back from day-to-day — don’t happen overnight. But the mistake I see all too often is that people wait until they’re ready to leave before they start preparing to leave. By…
Read MoreWhy Your Business Needs A Second Growth Engine
Because, “What got you here won’t get you there.” If I had a nickel for every time I’ve heard that phrase during my tenure in business, I could retire early. But the old adage is more relevant today than ever. With new technologies undercutting businesses and disrupting industries at every turn, CEOs have their head…
Read MoreFree Up the Bottleneck in Your Mind
In business, as in life, I have found that my progress is often determined in great part by my willingness and ability to change. As a less experienced manager/leader, not knowing what I didn’t know, I was open to the voices of those around me who had experience, wisdom, and perspectives I was often lacking.…
Read MoreHow Can You Stop Selling Your Time?
If your goal is to build a more valuable company, stop selling your time. Billing by the hour or day means customers are renting your time rather than buying a result, which means that your business model lacks leverage. To grow, you need to either work harder or hire more people. Since it can take…
Read MoreThis 5-minute Task Can Help You Achieve Your 2022 Goals
As we roll into the fourth quarter of the year, you may be starting to consider your business goals for next year. Given how 2020 went, maybe your primary ambition was to survive in 2021. But now that things have somewhat calmed down, perhaps you’re ready to create a recurring revenue stream or finally hire…
Read MoreThe Downside of Being a “One-Stop Shop”
Before Jeff Bezos & Co. blew up traditional distribution channels, there was some value in being the local guy or gal who was willing to go above and beyond to meet every single customer demand. Being the local product retailer was a good business and being a regional distributor of a popular line could make…
Read MoreAdjusting Your Succession Planning Mindset
As a young division leader of a large media organization, I had assembled a strong team of managers who had performed together at a very high level for some time. We were making it happen! However, there was one manager, a fairly recent hire, who had strong technical knowledge but was out of step with…
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