08 Jun

A Coaches Conversation

Bob, (not their real name), is a business professional in NE Wisconsin.  I’ve known Bob for about five years and admired his professionalism and approach to business.  I was surprised one day by a phone call from Bob.  It seems Bob was having performance issues with his Business Coach.  As a Business Coach myself I occasionally receive calls of this nature, Business Professionals unhappy with their Coaching relationships and wanting advice.  Bob was different because we had been friends for years and I never knew he was working with a Coach.

Bob was unhappy.

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09 Feb

I Don’t Want to Plan My Exit From My Business

If you don’t want to plan your exit from your business then don’t.  It’s that simple.  However, that doesn’t mean you shouldn’t work on your business.  Work on your business to make it more productive, more efficient or as I like to say, help make it recession proof.  Being prepared is part of being successful at business.

With Baby Boomers owning most US Businesses it is understandable that the focus of many business consultants is to focus on helping them transition their businesses to others.  Why wouldn’t they, with roughly 10 trillion dollars of business involved it only makes sense.   But Baby Boomers don’t own everything, and not all Baby Boomers are thinking of retirement.  We are living longer than our parents and Grandparents so staying in the business longer also makes sense.  The youngest Baby Boomers are about 53.  They could have another 20 or 30 years of working life left if they choose.  Their businesses need to do things too.

If you don’t want to plan your exit, what should you do?

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06 Jan

The Pain and Cost of Not Enough Time

 

When you started your business you had a passion.  You wanted to accomplish something, something that was unique and important to you.  Your business was going to support you, your family.  It was going to provide you with the money and status you needed to live a certain way, in a certain place.  What did you do that started your business successfully and do you still have the time to do those things?  Is your business providing you the monetary, emotional and physical things you hoped it would? Or, are you experiencing the pain and cost of not enough time to do what is important?

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15 Jul

Are You Ready For The Inevitable With Your Business?

It happens to all of us whether we own a business or not.  At some point, our working life stops.  For business owners that bring on additional challenges.  Specifically, what will happen to your business when the inevitable occurs.  Generally, this involves one of the following:

  • Selling Your Business to a third party
  • Retaining your business and hire someone to run it for you
  • Pass it on in some way to a family member or partner.

Regardless of what you decide one thing is certain, you have to include thinking of yourself in this process as well as your business.  Interestingly enough the two are closely tied together.  Let us look at the process…

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