A Tale of Two Business Owners
Business Owner #1 - “Do It Myself Johnny”
I wake up, work out, listen to podcasts/audio books, have breakfast, get the kids out the door then head in for a full 8-10 hrs, managing every fire imaginable. No one lives up to my standards and I let them know it. I am often disappointed in the team (which has a high turnover). The highest value I add is rainmaking. I make very good money because I work harder than everyone and I deserve it. I'm tough but fair. The business would most likely fall apart if I left for too long. I think about work on vacations and I'm never too far from my phone/email. I definitely have no plans of stopping anytime soon. This is more than a job, it's my identity and my life's work. I've been asked to sell in the past but the offers were too low and quite frankly I'm not even sure how much it's even worth. It is probably more profitable to keep running as it is. However, I'm too busy to worry about selling the business… gotta go put out this fire…!
Business Owner #2 - “Confident Cindy”
In the early years of building the business I always knew that we’d need smart people that could take on leadership and management duties. We've worked with a range of consultants & professionals over the years to help us put in the much needed infrastructure that has allowed our company to grow - from compensation plans, policies & procedures, ascension plans, technology & automation, etc. Most employees have been with us for 10+ years; it's more of a family. Our management team can run this business very effectively without me and in many cases I just get in the way. I've been smart enough to let them do their job and do it well and they know I am always here to serve. The highest value I add to the company is being here for the team as wise counsel. I maintain a few high level relationships on behalf of the business because I want to, not because I need to. I'm always willing to invest when it comes to upping our game across the board. This business moves fast so I try to keep my eye on trends and the competition. The plan is for me to fully exit the business in the next three years and I am currently training my successor. We would all entertain a serious acquisition offer if it was a win-win scenario. For now we’re busy executing our strategic plan and serving our customers and employees. I gotta go… I’m about to tee-off!
Which side of the spectrum are you on and in which direction are you moving toward?
Tim Martinez
“The Inside Man”
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