In this article, originally featured in Elite Business: To create wealth as a business owner, you need to change how and what you lead over time.
This Week@Work, a business owner has little option but to lead their business. And you cannot lead without a destination or goal to guide and direct your leadership. That destination should be enterprise value.
This Week@Work, I presented a series of workshops with business owners looking for scale and growth, of course! One of the big discussion points was who should lead that growth. As the business owner you’re the biggest investor in your business and growth inherently carries risk. You need to be the one driving growth as you have everything to lose or gain from it.
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
This Week@Work I met with 2 business owners whose growth has largely been due to circumstance.
They don’t understand how clients and sales come in. Working together we’re going to build out a sales system that can drive revenues consistently and without their individual inputs.
This is a cautionary tale about where to focus when times get tough. It’s a story of a business owner who had built a phenomenally successful business, and even had a £9.8M offer on the table 4 years ago! Now, this business has shrunk in clients, revenue, staff, and has virtually no value for a buyer today.
What does the majestic home in the background of this week’s video, that belonged to ink tycoon, Inky Stephens, have to do with business growth?
Watch to gain insights into the 4 types of growth that need to be put in place to build and lock the value in your business, and a suggestion on what to do beyond that, to secure your legacy.