2017: The Art of Reflection Bears Fruit

The art of reflection does not come naturally when you are “wired” with a bias toward action and execution. It was not until a mentor challenged me to create space for reflection that I realized its power. Building this skill took considerable effort and I initially fell short quite often (in fact, its still hard), but the effort has transformed …

Beating Business Transition (Sale/Scale/Succession) Odds – New Research

Owner experience, advisor observations, academic literature, and popular books agree – significant transitions (scale, sale, succession) fail more often than they succeed in the low to mid-market business environment. Economic realities of failed transitions are quantified in unrealized shareholder returns, unrecoverable financial costs, and wasted opportunity costs. But, the more profound impact lies hidden below the surface in the mind …

7 Steps to Improve Management Team Decision-Making

Decision-making is the single most important function of a management team, yet few spend any time thinking about the ruthless pursuit of effective decisions. Sarah, the CEO of a mid-market specialty packaging and distribution firm, contacted us when attempts to organically scale failed to deliver the desired results two years in a row. Five years into her tenure as the …

Knowledge is Power: Particularly for Multi-Owner Businesses

We live in a world flooded with information, but what has happened to knowledge?   Think about it, the volume of accessible information increases exponentially every day, knowledge workers, Google, and data are infused in every area of life.   You don’t know something, ask Alexa or Siri and get information… just don’t count on them for knowledge.  Information and knowledge are …

The Psychology of Exits – PhD Dissertation Now Available

Allie Taylor, our senior partner, completed her dissertation in the Fall of 2017. Entitled “The Psychology of Business Exits: Measuring Entrepreneurial Role-Identity Fusion”, the complete dissertation can be found here. Featured photo by Ben White on Unsplash

3 Reasons Summer is Good for Business Exits

I recently chatted with a successful business owner about his summer vacation plans. It involved a 4 day get away that was jammed in amongst multiple cross-country business trips. “Bob’s” statement was that he was keeping his commitment to his wife, but was certain it would take at least 2 days to unwind. In Bob’s case this vacation may be …

Obliquity: Why Biz Owners Don’t Respond to Exit Solutions

Dr. John Kay in his excellent volume, “Obliquity: Why Our Goals Are Best Achieved Indirectly” provides numerous examples of situations where an indirect approach is best. A perfect example is the goal of creating wealth. Kay provides ample evidence to support his statement; “The richest men are not the most materialistic. Nor has it ever been otherwise”. Wealth in and …

6 Magical Thinking Obstacles Business Owners Face

A siren’s song is one of deceptive seduction whispering exactly what one wants to hear, but stories involving sirens never work out in the hearers favor. Instead, the hearer goes down paths that lead them into more confusion or even their own demise. The siren might say to a stuck business owner, “keep doing what you’re doing and just hire …

10 Tips for Working with Business Owners

Shared understanding and common expectations are essential for effective collaboration and goal attainment.  That is the “what” has to happen, but the devil is in the details.  Meaning, the “how” of getting there is often far more complex than people expect.  This is equally true for the professional advisor and their client – in this case, the low-to-mid market business …