This Week@Work, purpose is paramount. I visited a successful tea company who now proudly display their original tea sorter (a DIY modified cement mixer!) in their reception area to remind the business about their heritage. In tough times, go back to what you’ve been through and come through to motivate you to get through now, and focus on what needs to come next.
This Week@Work I’m taking us off the beaten track, and I’m not going alone. In a tough business environment we can’t tackle every single challenge alone. Surround yourself with trusted allies to get out of your head – it makes the climbs more manageable, interesting and rewarding.
This Week@Work my meetings with long-established business owners have left me concerned about their runway to an exit.
They have spent their careers focused on operational issues to generate income to sustain the business. Only now are they realising they should have been focused on growth and capital value to secure a profitable exit. W
hat are you spending your time on?.
This Week@Work, a rusty bike chain made me think of Zig Ziglar, who started out as a door-to-door salesperson.
Zig understood the art of hunting for business, something that most business owners have gotten rusty at since we started to rely on digital media to bring business to our door.
This Week@Work at a large gathering of business owners, the discussion centered on where to find growth in low or no-growth business environments.
Watch as I share three points on what you need to do, and where you need to look to find the opportunities in such circumstances, to get ahead of your competition.
This Week@Work, I facilitated a business battleplan with a room full of warriors, also known as business owners! The discussions about growth reiterated the same three big challenges to growth that I see over and over again, all over the world. Understand them, and build a battleplan to overcome them.
This Week@Work I visit an old warship to bring to life an analogy that building a business is like sailing a ship.
Both a ship and a business need: A destination, a crew that operates clear systems, and a Captain, whose time is either spent in the engine room or up on the bridge.
Watch as I take you on a quick tour
There are 2 elements that go into valuation: The first involves the 5 technical levers of valuation which can be built into your business, and they make up around 60%, the other 40% is all about how you strategically exit your business.
I outline the process in a couple of minutes in the video below, and have created a 5-part series on each of the layers of valuation that goes into more detail on each, you can find those here.
As a business owner, there are 6 different jobs that you should do at different stages of your career, to maximise your business’s potential and monetise your years of hard work and sacrifice with a rewarding exit. The key? You have to do things differently at each stage.