What Kind Of Business Owner Are You?

In today’s issue .....

  • Climber, Fighter, or Craftsperson?

  • 340 words, total reading time under 2 minutes

John Warilow is a renowned researcher and business builder. Selling his first company to the Gartner Group and now running a very successful business to help companies build value in their businesses. He has 845 advocate coaches who use the system to help companies build value.

John and his team have studied business owners particularly in the $1MM to $10MM Revenue span. His research reveals three notable types of owners. Which are you?

Mountain climbers…

  1. Want to grow and grow

  2. Want to conquer new challenges

  3. Want build something special

  4. Would take on a partner to grow

  5. Have done some serial entrepreneurial things

  • Focus on revenue growth

  • Equate selling their business with achieving what they have worked for

Freedom fighters…

  1. Want to remain independent

  2. Want to control growth, often hitting the brakes

  3. Don’t want to work for anybody

  4. Happy to run their business for decades

  5. Want to be financially independent

  6. Focus on profit more than growth

  7. Equate selling their business with retirement

Crafts people…

  1. Want to master their craft, be the best at it

  2. Could move in and out of the business based on economy

  3. Proud of their last job or project

  4. Price sensitive, hard to separate personal from business finances

  • Focus on mastering their skills

  • Show little interest in selling their business, might give it to the kids

What Does It Mean?

If you desire to improve sales or profit; and might want to ultimately sell to a third party; you should consult an industry expert, with experience in developing companies like yours. Your friends and industry peers can certainly lend a hand. But until you have a detailed plan for creating value in your business, you’ll just continue to stir the soup.

We encourage you to take a new step in maximizing the value of your business. It will change your routine, for sure. But it can also mean having the potential to secure real wealth in your future.

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