Growing, Declining, Cruising, Transitioning.

Growing? 

If you are growing rapidly you face unique challenges.  Are you already working as hard as you can; running out of hours in the day? Do you struggle to release authority to staff you may not trust or who are themselves too busy (or not yet prepared)?  Do you have important things that are not getting done while you manage details? Is your growth costly and difficult to fund?  You know things are getting more complex.  People and systems need to be developed.  What needs to change first?

Cruising?

It can be frustrating if you are just cruising and know that you could be doing much better. Where are you stuck? Do you need one year and three year goals? Do you need to get organized? Do you have important things you just can’t seem to get around to? Do you need to be reinvigorated?  Do you have a plan, with action steps and a sense of direction? Where are you stuck?

Declining?

If you are declining it is important to make sure you have clean numbers, take a hard look, make some hard decisions, and get it turned around – fast.  Do you know where the leaks are?  Are you ready to do what is needed to get clarity and control.  If you blame the economy, your employees, or your customers – you are definitely wasting your time.  What do you need to do?  What are you waiting for?

Transitioning?

If you are in transition I’m sure you have a hundred questions depending on your situation. If you are taking over (or giving over) a family business your interests need to be protected.  How do you do that without making every future Thanksgiving a nightmare?  If you are selling the business (or if you have just purchased it) who is going to do what – and how?  Who will help you get clarity, help you plan – and be your advocate?

You should be actively planning for what comes next.  What do you need to do to make the company more valuable to a potential buyer?  Who needs to be taken into consideration (mom, dad, siblings, or employees)?  Who wants what?  It isn’t just what the business is “worth” but also how much can the business afford?