Phase 7 – Succession Stage seven represents successful succession occurring, the owner has a retirement or exit plan – their legacy is in position structurally and financially. The owner has found a buyer or the IPO is in position.
Phase 5 – Sustainability Phase five represents sustainability. The owner now has a franchise (as in the business model can be replicated like a cookie-cutter recipe) and needs to behave like a franchisor as growth occurs through the second store, branch or independent revenue streams coming into existence. The crisis however is one of identity. […]
Phase 4 – Systems Phase four represents systems. The owner now has a business and the team seems on the face of it to be all running in the same direction. The owner now needs to plan for intelligent, incremental improvements. The business plan concentrates on coordination. Whilst the owner may occupy the functional role […]
Phase 3 – Synergy Phase three is a tough one, you will note that the upward trajectory has flattened out – the slope might even be going down-hill such is the pressure on the athlete (owner) – I refer to this as the mad-mile. The characteristic of this phase is; grow and shrink. The owner […]
Phase two represents the emergence of a relationship with the market place. The personal drive of the owner has created a specialty field around himself, with recognition as the subject matter expert, forming a core influence as the source of enquiry – even if unacknowledged. The owner has negotiated for themselves a job in this […]
Firstly and importantly we must look to how each crisis phase shapes managerial characteristics. The skills possessed by the entrepreneur that helped start the business are not the skills that will grow it.
I consider myself a student of management rather than a management expert. I take great pride in being able to not only apply knowledge but also learn, able to judge the merits of new contemporary management ideas and theories and put them into position for my clients.
The premise of the Buckingham book is that it is possible to work on weaknesses all our lives, but that will only ever deliver strong weaknesses! A review of the drudgery that school life presented average students would identify many wasted hours.
The urge for wealth is an extreme and endless journey. The list of “Must-haves” becomes endless and accelerates away from us faster and faster. As Siimon observes in this chapter, this chase would be fine, except for the fact that seeking riches of itself does not lead to ultimate happiness, nor does it improve our […]