Three Must-Haves for Owners – A Different Approach
For business owners to be truly prepared, they should have the following:
* a will
* a succession plan for the business
* an exit strategy to monetize the value in the business
Three Must-Haves for Business Owners
More than 2/3 of business owners did not have an exit plan for their business.
Reading List: What Were They Thinking?: Unconventional Wisdom About Management
This is a pretty tight book full of illustrative stories backing his theories of good (and bad) management.
Severe Summer – A Different Approach
In this process for businesses, we encourage an organized program where one person is in charge of contacting key stakeholders – customers, prospects, suppliers, industry experts and employees – to get both a big picture feel and more feedback on your business as well as industry trends.
Severe Summer
If the revenue pie is shrinking, companies have to work smarter to keep a share commensurate with past revenue levels.
Reading List: Inc. Magazine, “The Business Owner’s Bookshelf – 30 Books You Should Read and Put to Use”
Check out Inc. Magazine’s April 2009 issue, “The Business Owner’s Bookshelf – 30 Books You Should Read and Put to Use.”
Summertime – A Different Approach
Knowing where your company falls into this set of three groups is a major part of the battle. But the big question remains—once you know, what can you do about it?
Summertime, and the livin’ ain’t so easy
Business owners and the advisors who serve them need to acknowledge where their companies stand. Here are a few sign posts to look for in each area.
Reading List: Vanity Fair, “The Inheritance”
New York Times ownership – “America is not kind to the heir. He tends to be depicted as weak, pampered, flawed, a diluted strain of the hardy founding stock”. The second is that, following many disastrous decisions, while many people hope Sulzberger succeeds, few think he will.
Marathons and business ownership
Building a business, like running, is easier if you’re not doing it alone. If you’re not hitting on all cylinders for business (or your career), consider getting a proven business coach to improve your results. Remember, in down business cycles, you have to think differently to achieve outstanding results.
