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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02 Feb

Successful Life After Work Means Planning

My continuing education about business, work, and the workplace recently shared an interesting piece of data with me.  That data was only 20% of businesses that go on the market are sold.  Further, of those business owners who sold their business, 72% did not know or did not think the sale of the business will impact their lifestyle.

Think about those two points.  The average business owner has 80-90% of their personal wealth tied up in their business.  About 20% of them can take physical possession of that wealth through a sale while 80% will have to find another way.  What should each of these business owners do to improve those outcomes?  What can they do to become part of the 20% and equally important, what can be done for the remaining 80%?

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22 Sep

Our Workforce Is Our Greatest Asset

“Our Workforce is our greatest asset.”  I think most of us have heard those words, or similar, spoken by the leaders of most businesses.  It is important that they truly believe that.  However, how many of them truly take the necessary steps, both tactically and strategically, to make those words a reality.  To put it another way, how many businesses truly walk the talk?  Is your workforce truly your greatest asset?

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15 Sep

How Do You Know?

It’s an interesting question.  How do you know?  It was a question my youngest son would ask me following my explaining something that I hoped his toddler mind could grasp.  He would nod approvingly, look at me with those big eyes and ask, “How do you know?”  I never took it as a challenge; it was a request to learn more.  So how did I know and more importantly, how do you know?

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25 Aug

You Don’t Want To Be An Employer Of Choice

It seems to be every business’s goal.  They want to be an employer of choice.  They seek designation for it as if the term somehow makes them better than their competition.  Some simply declare themselves as such while others pursue some local designation or one of the many “Best Places to work for <insert category here>.”  What exactly is an employer of choice?  Is it the right designation or focus for a business, or, is there a different way?

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