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…
Want to grow and grow
Want to conquer new challenges
Want build something special
Would take on a partner to grow
Have done some serial entrepreneurial things
Focus on revenue growth
Equate selling their business with achieving what they have worked for
Freedom fighters…
Want to remain independent
Want to control growth, often hitting the brakes
Don’t want to work for anybody
Happy to run their business for decades
Want to be financially independent
Focus on profit more than growth
Equate selling their business with retirement
Crafts people…
Want to master their craft, be the best at it
Could move in and out of the business based on economy
Proud of their last job or project
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.
