We all have our reasons why we started the companies we did. For some it was a higher social purpose, for others it was the challenge of creating something new, and for you it might have been a different reason altogether. One thing we all have in common is the need for our companies to…
Brian grew up in business. His dad, Ronnie, started the manufacturing firm, his mom, Marge, ran much of the administrative and financial aspects of the company, and family life revolved around the company. Brian studied engineering and earned his degree. After college he came back home and went to work for the family business, quickly…
When I first started coaching Tom his business was stuck at the $5 million per year revenue marker. The biggest reason for that was that Tom had built his company around himself. He made the key decisions, he approved the daily work, he managed the staff. He used his team to leverage himself, but he…
There are 6 major causes of risk for a potential buyer (see below). Your job is to do everything you can that mitigates these risks and enhances your company’s value. 6 Key Risks from a Buyer’s Perspective: 1. Management team: How talented are the managers? Will they stay? What happens if one or more leave?…
Many business owners say that because they’re selling expertise that lives in their heads, they can’t scale their businesses. This is especially true of the professional practices we coach. These doctors, lawyers, and highly paid consultants say, “David, there’s no way we can scale. We can see how what you teach would apply to other…
Wayne, a business coaching of my company, complained about how much time his sales team took for him to manage each week. “David,” he lamented, “They just do the craziest things. They make prices concessions when they don’t have to. They promise our customers unrealistic delivery dates. They even make up things to say about…
What if there was a magic concept that you could employ that would powerfully align your company’s goals, priorities, actions, and culture? In other words, your company would invest its best resources in alignment with its top goals. And each of your team would act daily in accordance with these priorities, letting these priorities and…
Great businesses are built on teams that take full ownership of individual responsibilities. Too many businesses let people slide by partially doing things, and accepting excuses for delays and mistakes that could have been avoided. A culture of accountability is one of the most valuable institutional habits that your business can form, and for better…
Have you ever wondered how the wealthiest people in the world originally built their fortunes? If you analyzed the Forbes 400 list of richest people in the United States, you’d find that more than 325 of them got on the list by applying a simple formula (or being the heir of someone who applied this…
All world-class athletes have an experienced coach to pull the very best performance from them – game in, game out. Their coach gives them an edge to prepare better, plan smarter, and execute more powerfully. What’s not as well known is that top business owners often also have a coach, in their case a “business…