In our experience, we find that businesses at this level have an owner and leadership team that is functioning at a high level of maturity. At this point, finally, the business now virtually runs itself. The business owner is now more of a director than CEO, ensuring that things continue to of well. Providing leadership, often from afar, the owner is not involved in day-to-day operations, and only intervenes in times of transition or stress. The business owner can now focus on other opportunities and the business is an investment more than an occupation. Now may be the time to consider the following questions:
- What company-wide processes and systems need to be upgraded or optimized?
- Where are new markets to move into to fuel company expansion and growth? What new products and services do we need to develop to expand upon our lead over the competition?
- Does your company culture need a jolt of new energy and innovation? If the company culture is healthy, how do you maintain it?
- Is now the time to start that new company? Is this the right time to consider a merger or a strategic acquisition of a competitor? Is it time to consider that non-profit work you’ve always dreamed of doing?
- How do you monitor the health of the company if you’re not as involved as you once were?
- What’s the next big thing for you in your career and life? What’s the next big thing for the business?
This can be a challenging time of letting go and being set free. Trusted business advisors are essential to helping you reap the rewards of your years of time, energy and risk-taking while making sure the business you built continues to thrive and grow more profitable.
Contact Michael today at email@example.com or at 651-335-4505 to arrange a free two-hour consultation to discuss the current state of your business and the desired state you’d like to achieve!