Your virtuous cycle of growth and freedom is within reach.
Don't give it away.
The secret to trading misery for dollars is to build your company, with stakeholder value, through the eyes of an acquirer.
Stakeholder value is what really indicates how well you and your company are performing.
But, we’ve been taught that stakeholder value is only for public companies, not private businesses.
The truth is that you don’t have to lead a big, public company to think and grow like one.
Double the value of your business and pay yourself what you’re worth in 12 months.
Frank Naeymi-Rad, a former member of my company, The Alternative Board or TAB North Shore, built his company, Intelligent Medical Objects or IMO, by consulting hospital leaders on the use of information technologies to more effectively and efficiently coordinate patient care.
His company and his team were good at electronic medical records, artificial intelligence, machine learning, multi-facility scheduling, comprehensive care management, and telehealth.
But, IMO was stuck as a $2 million consulting service business with different clients year after year.
We worked together to pivot the company by prioritizing their service offer on terminology and a subscription model around medical vocabularies, which was their true passion and strength.
This is a critical problem within electronic medical records when physicians to not interpret clinical language in the same way within our medical notes.
What may seem like a subtle difference in terminology to us, can be a dramatic difference in the care we receive if there is a misunderstanding between our doctors.
So, Frank’s company focused exclusively on that important and differentiating service and stopped investing any resources in those other original services.
Because of this durable competitive advantage, IMO grew high double digits year after year in recurring revenue.
Frank used our process with his TAB board members through each step of his transformation as he organized his company and people to support this accelerated growth.
When he sold Intelligent Medical Objects, 25 people in the company became millionaires.
Be the best and do just that.
If you’ve struggled with growth, and that feeling of care fatigue in your business, it’s not your fault.
We’ve been taught that our value lies in defending our past. As a company, our value lies in the number of years in business and the financial statements. As people, our value lies in the skills and job titles that we’ve earned over the years.
While that historical performance is valuable, what’s most important is how we use it as perspective in creating future value for our company.
As a company it’s critical to build that future value now, so you can pay yourself what your worth now as an owner and collect a generous payout when you choose to sell your company or transition this great company to the next generation of leaders.
Remember that expression from the 2007 financial crisis about companies that were “too big to fail?”
Some of the key executives of those companies still received their “golden parachutes” even after their companies were bailed out.
Well, owners like you and me have been on the outside looking in because it doesn’t matter if we fail, right?
We know that small businesses like ours have to earn everything.
Some owners, like you, are enjoying the experience of leading their companies and getting paid well for it.
They’re paying themselves what they’re worth today, and building companies that will continue earning a lot of money for many years to come.
Imagine if you were like Frank, who continues to pursue his personal interests and be a strategic leader on his own terms without worrying about money.
Build for growth and always be ready to sell.
You have a choice.
You can either defend your expertise in the job like a solopreneur with your collection of skills
Or, you can create your unique position in the marketplace as a business builder with the collective wisdom of many people.
Only those who make this important shift in their behavior will succeed.
Other people will be left out.
There are millions of dollars at stake.
Many owners will never see it in their pockets because they’re still living in the past.
Too much time defending their expertise and trying to relive those stories from the past.
But, the power to win that money lies in your ability to reflect on those client experiences and learn the key lessons from them, instead of trying to relive those old stories over and over again.
Those lessons will reveal to you what is most valuable to your clients, and what you can do better than anyone else.
It’s how Frank Naeymi-Rad was able to transform his company from a struggling consulting business doing different work for different clients year after year into a world class company that solved the problem of physicians communicating without misunderstanding each other throughout the patient experience.
That’s how to think like someone who would want to buy your business from you.
Because you’ve built something that is so well positioned and profitable, with people who work together as stakeholders, that it would be better for someone to buy the business from you than build one like it themselves.
I’ve shown you how you could increase your company revenue by millions of dollars with a process that will make your company stronger than ever.
You’ve seen how the transformation will make your life, and those who work with you, better than ever.
The process works every time, which is why I offer a performance guarantee that covers the cost of your membership.
The decision is yours to make.
You have three options:
Number 1: Hang in there and do nothing.
If you like the hustle, and defending your expertise everyday, I wish you the best.
Number 2: Do this yourself.
Try to carve out time to ask yourself questions you’ve never asked before, and then try to figure out the answers in your spare time.
Maybe you’ll add some opinions from friends at your favorite networking event.
Number 3: Join me, and those who work with me, to grow with our process and collective wisdom.
Even with all of your expertise, I think that you’re smarter than you think you are.
We’ll share four hours each month together to build your unique business with a culture of stakeholders that also supports the life that you want to live.
Many owners say that they want to build a business, but they end up in that same defensive position with their own expertise.
But, there are fewer owners who realize that growth is about confidence and humility.
Confidence in all that you’ve learned by doing so far.
Humility in recognizing that there is much more that you haven’t seen yet.
That’s what clients, and other battle buddies, have taught me over the years.
You can do this, just don’t do it alone.
Since you’ve stayed with me this far, I believe that you are a business builder.
If you believe that you’re a business builder too, book a meeting with me at the top of this page.