Do important things when and while you can. In business and life, this idea can be critically important. Unfortunately, many of us get caught up in the seemingly urgent aspects of our business and personal lives that keep us from focusing on the few really important things that need to be done at the present time to help insure a better future.
If you employ a questioning attitude, you can expand on what is known in many ways, to achieve what would otherwise have been unknown. And the previously unknown builds on our knowledge and ability to learn and do more. The example presented in this post is pretty simple, but powerful. You can do similar things by asking questions about what you see and hear and then comparing what you learn with what you already know or can infer.
Perfect practice is more than simple repetition. Perfect practice means doing whatever it takes to improve your craft. Perfect practice means grappling with your craft and growing with it. Perfect practice takes you where you have never been before and separates you from most of your competition who believe that mere practice makes perfect.
Management transitions can be difficult. Most aging baby boomers simply don’t want to think about management transitions. But we have to do this for our own good and for the good of our companies and all of our stakeholders.
Is your business ready for sale? This is an important question for business owners and shareholders. Why? Companies that are READY for sale are more valuable than similar companies that are not. You also never know when you might be approached by an enthusiastic, or better yet, a motivated purchaser. If that day comes unexpectedly, you definitely want to be READY for sale. A company that is READY for sale is also ready to engage in leveraged repurchase transactions that provide liquidity for some owners and enhanced returns for others. A company that is READY for sale is capable of engaging in a leveraged dividend recapitalization, as well, to provide liquidity and diversification opportunities for all shareholders. And, a company that is READY for sale is also just more fun to work in. This post goes into depth about the components of R-E-A-D-Y.
Ownership transition can be difficult. It is not something that most business owners like to think about. We will all, inevitably, transfer our ownership to others, if only at death. This post discusses 5 situations business owners may find themselves in and the perils of failing to plan for an eventual transition.
I have been a fan of the Fitbit pedometer for well more than two years. Using this little device regularly has changed how I think about exercise and movement in fundamental ways. And it has been good for my health. So how will a Fitbit (or any other pedometer you pay attention to) bring about changes in your life?
If you are like me and many Boomers, it is just difficult to find time to get in regular workouts. Travel, work, meetings, family activities, social activities, and on. It sometimes seems that everything and everyone are conspiring to keep you from working out. But I chanced upon an often overlooked “trick” to getting a reasonable amount of exercise on an almost daily basis and began a journey by introducing regular walking into my life. I found a digital friend to help and now walk 10,000 steps or more on most days.
Managing illiquid, private wealth in the context of The One Percent Solution requires a more active role for business owners and a different level of attention on the business itself. The truth is that between the two bookends of status quo and an eventual third-party sale are many possibilities for creating shareholder liquidity and diversification opportunities and facilitating both ownership and management transitions. This post examines several.
Having served as the third appraiser in numerous processes, I’ve learned from experience. The steps regarding the role of the third appraiser outlined in this post will not solve every problem. However, they will go a long way towards “fixing” processes that are otherwise broken, or badly bent.
