Category Archives: strategy

B.L.U.F.F. Your Way Into Great Communication

Put the bottom line up front to be a great communicator.

When most people communicate or have an update to share at work, either in an email or with a verbal report, they love to share their entire intellectual journey. They tend to start at the beginning, and then explain everything they did to get to the end results – which they save as their big conclusions.

While that kind of approach might work if you’re writing a novel, it’s not effective when it comes to sharing updates in business; especially with busy executives.

Continue reading B.L.U.F.F. Your Way Into Great Communication

Advertisements

Why You Need To Protect Your Emotional Reserves As A Leader

You Need to Have Buffers to Handle the Ups and Downs of Business

There are probably dozens of traits that come to mind when you think of what sets great leaders apart from the rest of the pack. But one of the most important things that every great leader understands–something that other might miss–is the importance of having adequate emotional reserves when you show up at the office every day. Continue reading Why You Need To Protect Your Emotional Reserves As A Leader

How to Monetize the Data in Your Business

A three-tiered approach to the monetization of data that follows the framework of Aggregation, Analytics, and Actionable Predictions.

Just about every business is awash in data these days. From data about your customers and their buying habits to data about the market in general, you have an enormous amount of information right at your fingertips. But the question then becomes: how can you monetize that data? Continue reading How to Monetize the Data in Your Business

The Secrets To Lose-Lose Negotiation

The best negotiators don’t look for win-win behaviors, they try to find a lose-lose compromise that everyone can accept.

When it comes to negotiating a deal, we have all been taught to try and find a so-called “win-win” solution. But when you watch the best negotiators in action, they actually use a very different tactic. Their goal is to strike what you might call “lose-lose” deals.

Let me explain. Continue reading The Secrets To Lose-Lose Negotiation

Apple’s Boring Mission Statement and What We Can Learn From It

 

Thousands of hours have been wasted talking about mission statements that are, quite frankly, boring. The best mission statements, are both inspirational and to the point.

Mission statements are critically important to your organization because they drive alignment in your organization toward the vision of what you want to get done. That’s why it should be the inspiration that your organization rallies around. Unfortunately, many thousands of hours have been wasted talking about mission statements that are, quite frankly, BORING!contact-us-phone-and-email

Continue reading Apple’s Boring Mission Statement and What We Can Learn From It

Top 10 Reasons to Join a CEO Peer Group

A great way to become a better leader – fast

Serving as the leader or CEO of an organization of any size can be a difficult and lonely job. Fortunately, there are many tools available to help you become a better leader–including things like going back to school to get your MBA, reading books, and, of course, learning on the job.contact-us-phone-and-email

But there is also another way to accelerate your learning curve on your way to becoming a better leader: by joining a CEO peer group.

A CEO peer group is a made up of a group of CEOs, ideally who run companies of similar sizes and complexity, that meet regularly to work through business-related issues. These groups are either facilitated by a member of the group or by an outside professional who has deep business expertise. Continue reading Top 10 Reasons to Join a CEO Peer Group

5 Trends That Will Impact Your Business in 2018 (You Might Already Know No. 3)

With the New Year right around upon us, here are 5 trends that will impact your business in 2018 and beyond:

  1. Lack of “Place” Accelerates

In the coming year, we will continue to see a diminished importance of the need to have a physical location to work in. Thanks to the widespread evolution of mobile platforms, where we now have high-performance computers in our hands, most of us can now work from anywhere.talk to us Continue reading 5 Trends That Will Impact Your Business in 2018 (You Might Already Know No. 3)

Do you Need a Board of Advisors?

It’s a question many CEOs start asking when their company reaches a certain size: Is it time for me to look for an advisory board?

It’s worth noting that the question relates to creating an “advisory board” which is very different than a board of directors or fiduciary board, which involves legal obligations.

In deciding whether you need an advisory board or not, you need to start by deciding what you want your board to help you with.     contact is we help you grow

 

Continue reading Do you Need a Board of Advisors?

Moats and Machines: How Warren Buffett Analyzes a Business

Warren Buffett knows great financials are critical to the success of any business, they are really just outcomes from having a strong “machine” and an impenetrable “moat” for your business.

When you ask most CEOs about their vision for their business, they usually give you an answer built around metrics like number of customers, market share, or profitability.

But what I would argue is that while all of those numbers are critical to the success of any business, they are really just outcomes that result from having a strong “machine” and a “moat” for your business.contact us now Continue reading Moats and Machines: How Warren Buffett Analyzes a Business

Run Your Business Like You Are Never Selling

To get the best value when sell your business, keep your focus on building a great business, serving your clients, growing your revenue and profits and exit will take care of itself.

Many of the CEOs and leadership teams I have worked with over the years have fallen into the same trap: they get overly focused on selling their company to a strategic or financial acquirer or worse, going public. At one level this is understandable since it is a dream for many, if not most, entrepreneurs and leaders to create a lot of personal wealth through a wildly successful exit from their business. That’s why it’s so common to meet business leaders who seem to think of nothing else.

blue-contact-us

But if you make the notion of selling the primary driver of your business, at the expense of continuing to grow a great enterprise, you’re making a critical mistake.

All too often I hear business leaders tell me that they can’t make that new IT investment or ask an under performing executive to leave the business because they are just treading water until the sale of the business closes. No one wants to spend any money, or rock the boat when it comes to key personnel, because they don’t want to jeopardize their big payday.

Strategic buyers and investors are looking to buy companies who have great executive teams in place that not only deliver results in revenue and profits now, but who also have built in the upside to deliver growth into the future. And a pile of recurring revenue is sure to help!

So when a potential acquirer looks at a business that is clearly doing its best just to keep the status quo and not making the right moves and investments, they will see right through that and wonder if the company is now too risky to invest in. Smart buyers and investors look for companies that are continuing to thrive, grow, and make smart decisions – not those who are just passing the buck.

What do you think would happen if an investor approaches your company and asks which members of the executive team they should hang onto – and which ones they shouldn’t? If you immediately give them the name of a vice president who isn’t performing, you can bet the investor’s first question will be: “Why haven’t you gotten rid of them already then?”

Or, let’s say you have been holding off on making that big investment in a new IT system your team has been begging for. What you will find is that when an investor learns about that, they will discount their offer price for your business by the amount it would take them to make that same investment at the very least.

That’s why the best strategy to get the best price for your business is to continue to focus on building a great company – not on trying to sell it. If you were to make the investment in the IT system now, you might even be able to extract a premium from a potential buyer because you have laid the foundation for future growth because of that investment.

Believe me I speak from experience. A few years ago, I, too, was in the process of selling my company. We had received such a rich offer from a public-traded company we couldn’t say no to. At the time, my CFO and I were the only ones who knew the transaction was in the works. As it happened, my VP of engineering wasn’t performing at the time. I had him on an improvement plan for the prior few months and he just wasn’t getting any better. I knew it was time to make the move and help him leave the company. But rather than worry that I would scare off our potential buyer, I let them know what I was doing and why. I told them I was making a decision that was in the best interests of the business – and that was going to be my focus regardless of what happened with our transaction. The buyer was impressed: they told me they appreciated it. The deal eventually went through, before we even replaced that VP.

If you want to get the best price or value when it comes time to sell your business, keep your focus on building a great business, serving your clients, growing your revenue and profits and the great valuation on the exit will take care of itself.