In the course of daily business activities, I spend time at various meetings, conferences, and other organized functions where I meet a lot of entrepreneurs. Inevitably, the conversation turns to, “So, what do you do?” I explain that I help entrepreneurs plan and get their businesses ready for sale. I’m amazed how often I get the response, “Oh, I’d never sell my business. My business is my life!” Really? Are you one of those entrepreneurs that started a business because you don’t have a life and this was how to get one? I didn’t think so, either. Entrepreneurs start their businesses for a wide variety of reasons, but here are the four most common ones and how planning to sell your business can help you accomplish them. Continue reading
Too many people miss the point of what they do. They spend all day working hard at their jobs and forget what they are trying to accomplish as a business. This thought came to me as I was getting ready to work out at my local gym. As I was putting on my shoes, the manager started talking to me. She was laughing as she told me she finally had a chance to work out. She works all day at a gym and never gets a chance to work out because people are always asking her questions. She told me she got to workout on this particular day because she pretty much ignored everyone around her.
I understand the need for the manager of a gym to work out. Whether it’s fair or not, people judge the quality of a gym by how fit the manager and trainers are. But I would argue she would be better off finding a different gym to work out, where she isn’t known, rather than ignoring the people around you at your own gym.
By focusing on her own workout, the manager missed the point of what she does for a living. Her goal for being in the business is to encourage others to workout. Had she talked to the other people working out around her, she might of mentioned they’d get more out of their workout by pushing harder, trying a different exercise, or the value of getting a personal trainer. Any of these suggestions, or countless others, would have shown the other patrons she cared about them and their fitness. This might lead to the patrons recommending the gym to other friends and family members. It might have increased the number of personal training sessions. Chances are, it would have increased the profitability of the gym. Isn’t that what she’s trying to do as the manager?