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This Week@Work: Don’t get stuck in No Man’s Land

This week@work I met with a frustrated, established business owner who is looking to sell his business in the next 5 years. As part of his exit strategy he ramped up revenues to appeal to a buyer, but his success has put him squarely in ‘No Man’s Land’: Too big for private buyers to afford and too small for listed entities to be interested in.

It’s another warning to start with the end in mind so you can build your business for the right buyer.

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This Week@Work : Purpose vs Intent

This week@work I met with group of business owners who are deeply passionate about their business  and it got me thinking about the difference between purpose and intent.

As a business owner the idealism of our purpose drives us to continue to invest in our businesses day after day after day. But it’s the pragmatism of our intent that is as important if we are to leave a legacy, and to monetise those years of investment, sacrifice and risk.

Watch as I share their story to illustrate the difference between the two

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This Week@Work: Understand who you serve and how, to understand where your growth can come from.

This Week@Work I met with a large construction business who tried to smooth out their lumpy  project based revenues by developing  an out-of-the-box designer hut solution. Great idea, right? Then why hasn’t worked?

Watch as I share what went wrong and what we can learn from it about staying true to who we serve and how we serve them.

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This Week@Work: A brilliant product or service is only half of the business

This Week@Work I met with a business owner who has a brilliant product that genuinely competes with the best in their industry.

But a product only exists for one reason – to solve a problem for someone. The team and commercial system that allows people to find, use and want more of the product is the 2nd half the business.

Watch as I discuss this idea of 2 parts of a business.

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This Week@Work: Beans are not just beans, but they can help you get your positioning right!

This Week@Work I met with a business that is deeply entrenched in all things solar – a great sector to be in but their problem is that they have evolved to be everything to everyone. Their positioning is not clear, and they won’t be able to scale and grow until they get that right.

I look to baked beans to illustrate how to think about your business’s positioning.

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This Week@Work – Unconscious Competence

This Week@Work I met with a business owner whose growth is being hindered by his unconscious competence –  he’s mastered what he does to the point where he gets things done without thinking. It may seem like an advantage, but it can also lead to complacency.

Watch as I discuss this ‘blind spot’ which affects many of us in our businesses.

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This Week@Work: Specialisation alone is not enough to scale, grow and secure a successful business exit.

This week at work, I met with a group of brilliant engineers who undoubtedly offer a highly specialized solution. It’s something no one else can do at this stage and they believe that is enough to drive their growth. It made me ask whether these engineers are building a business, or if they are just creating a job for themselves. The difference is profound.

Watch as I address what’s missing if all you have is a brilliant product or service.

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