Building a successful business is a labor of love. Whether it’s the love of creating something, profit, legacy, or otherwise, your business is most likely your passion. But what if your management team doesn’t seem to share your passion, or worse, doesn’t seem to care about the business at all? While the knee-jerk reaction may be “Get rid of them,” consider some of the reasons why it may seem like your managers and key employees don’t care.
Put your ambition in context
As a successful business owner, you have next-level ambition. Your managers and employees may also be ambitious, but their ambition may not be as high as yours. When the people you hired to grow your company don’t have the same fire as you, it can look like they don’t care at all.
This is a dangerous mindset. It’s also more common among business owners than you’d think.
Some managers and key employees are perfectly happy in their role
DENVER Today, the Colorado Employee Ownership Office of the Office of Economic Development and International Trade (OEDIT) and the Exit Planning Institute released the 2022 Colorado State of Owner Readiness Report, offering key insights into the future of small businesses in Colorado.
Planning for a successful business future is like being confronted by a bear. If you run from it, it’ll catch up to you and eat you. If you attack it without a strategy, it’ll overwhelm you. And, to stretch the metaphor, simply rolling over and playing dead isn’t in the DNA of many business owners, especially when it comes to their businesses.
With preparation and the right tools, you can come out on top. However, many business owners fall prey to the misconception that they must have a fully fleshed-out plan for a successful future. Just like you don’t need to eat the bear in one bite, you don’t need to have a full plan for a successful future.
Let’s examine how planning your future in steps can help you take on the bear of planning for a successful future on your terms.
Step 1: Find your golden number
Regardless of the business you run, its size, or what you want your future to look like, every single business owner has a golden number.&nb
DENVER Today, the Colorado Employee Ownership Office of the Office of Economic Development and International Trade (OEDIT) and the Exit Planning Institute released the 2022 Colorado State of Owner Readiness Report, offering key insights into the future of small businesses in Colorado. As a growing number of business owners approach retirement, the report sheds light on how prepared they are and how the State of Colorado can help these owners transition out of their businesses, realize the economic benefits of their hard work, and retain jobs across the state.