Posts Tagged ‘mergerandacquisition’

The Next Big Thing

Monday, February 4th, 2019

In my business transition advisory work, I find 80% of entrepreneurs and executives in high-growth and mid-sized businesses very clear about the preferred outcome for the business, 50% very clear about the simplest path to it, 20% very clear about their own ideal future post-transition and less than 10% very clear on the optimum way to get “there”. Why? They’ve consciously or unconsciously ceded power and control to others, not prioritised themselves, or worse, they are in hiding behind a veil of procrastination. Have I hit on a very uncomfortable truth?

Pull up a chair, eliminate the distractions and let’s resolve now to clearly, and unambiguously, answer the three most important questions:

  1. What am I tremendously passionate about?
  2. What rare and powerful combination of skills, behaviours and expertise do I uniquely possess or could quickly develop?
  3. Where would the application of those talents have a transformational impact on the future of (enter organisation name), and its’ key constituents (enter clients, employees, investors, board members, business partners, suppliers names and so on)?

Armed with that level of clarity, what stops you setting aside time now in your diary to meet with those individuals? For many of my clients, it is really one of three reasons: you don’t trust your own judgement (“I am unfamiliar who’d have a need for me outside what I know”), you don’t see a need (“opportunities will come to me”), or you don’t see the urgency to do it (“I’ll get around to it once my immediate business goals are met”). Some site money as an excuse but that is very rarely the case unless you are broke.

The harsh truth is without the discipline, hard work and talent, to make it happen now, it will rarely lead to a desirable personal conclusion. You’ll end up forever circling half-explored opportunities, amid growing frustration of wanting to get “stuck into something”. When you do have the need post-transition, finding the “right opportunity” is incredibly difficult (your ideal relationships and interactions have changed markedly). Finally, you find perhaps for the first time, in the case of entrepreneurs, founders and executives on “exit”, you are beholden to others’ timing and priorities, which don’t align with your own.

Hiring qualified experts like me (depth and breadth of insight globally supported by a track record of success) can demonstrably help, strategically, where you are seeking validation of your own judgement, and tactically, pathways to ideal names, monthly accountability or creation of a post-transition structure “in waiting”. For example, the entrepreneur, who decides that he wants to invest in other entrepreneurs or the executive, who wants to work with private investors or philanthropic initiatives. However, it is really down to you and your desire to mitigate the risks of an unsatisfactory outcome.