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One thing I can guarantee every business owner – 100% of them will exit their business at some point in time. The question is will it be on their terms or someone else’s?  Business is hard.  Trying to grow while dealing with all the challenges presented by employees, customers, competitors, vendors, and banks is challenging. Seems like this juggling act can occupy the whole day.  It is this... Read the Full Story
Posted by Tom Garrity on October 11, 2017
 “We need more accountability and better results.”   Ah, if only I had a dollar for every time I’ve heard this statement. In fact, I can’t think of a business owner whom I have met or worked with that didn’t have an issue with accountability going MIA at some point in their company.   Accountability seems to be eluding a lot of us. Yet there is a simple solution. It is called rhythm – meeting... Read the Full Story
Posted by Tom Garrity on September 27, 2017
There are essentially two paths you can take when it comes to transitioning the ownership of your business – an internal transfer or an external transfer.  Each path offers several options.   One thing is clear– you will eventually exit your business, either on your terms or someone else’s.    Getting out of a family business is a lot harder than it was getting in. There are a myriad of... Read the Full Story
Posted by Tom Garrity on September 13, 2017
As I’ve shared in my last blog Processes – Part 1, a company cannot scale up without sound processes in place. Creating processes is important. Documenting them is even more critical.  What every successful company has - and what every wanna-be-great company needs - is a manual. A go-to document that lists every critical function needed to run the company. Or in engineering-speak, a group of... Read the Full Story
Posted by Tom Garrity on August 30, 2017
This is Part 1 of our Blog on PROCESSES  Ever wonder how Amazon grew to become the world’s largest internet retailer? Or how NASA successfully put astronauts into space? Or how you can scale up your company? Simple. Processes.   Wikipedia defines a process as “a set of activities that interact to achieve a result.”  More specifically, a process allows for fewer resources to be used more... Read the Full Story
Posted by Tom Garrity on August 23, 2017
I love the analogy of watching a group of kids playing basketball, and guessing whether they are serious or just messing around.  Messing around includes a lot of traveling, behind the back moves, 3 pointers from the park…you get the idea. But when the game is on, it’s clear that things are serious. They are ready to prove that they have mastered the game. Then there is posting in the paint,... Read the Full Story
Posted by Tom Garrity on August 7, 2017
This is the 4th blog in our series “The 8 Steps to Overcome the Big 5 Frustrations Business Owners Face.”  Part of the challenge in family business, or any business for that matter, is that the world does not stop and allow you to pursue your strategy in a nice, orderly fashion.  Whether it is internal or external, issues pop up throughout the course of the day in any business: employee issues,... Read the Full Story
Posted by Tom Garrity on July 27, 2017
Are-you-focused-on-the-right-things-in-your-business
The more family businesses and owners I coach around strategy, the more I’m reminded that building an effective strategic plan is very similar to raising kids – focus on a few things, repeat yourself often and be consistent.  Maintaining focus as a leadership team is a challenge many companies wrestle with and why it’s made my list of 8 Steps to Overcoming the BIG 5 Frustrations of business... Read the Full Story
Posted by Tom Garrity on July 12, 2017
Having raised four children, I’ve sung my fair share of Lou Stallman’s children’s song, “Wheels on the Bus Go Round and Round”.  In the song, Stallman describes a bus traveling through town, with everything and everyone in unison.  It all works.  This is what we are looking for in our businesses.  Get the right people on the bus and get them in the right seat (their strengths) so they can help... Read the Full Story
Posted by Tom Garrity on June 21, 2017
I started to learn to play tennis when I was 14. My high school team needed people to fill out the team, and I thought, “What the heck. I’ll give it a try”.    I fell in love with the game.  I had a great coach, and one of the things he taught me early on was I needed to be able to ‘see the shot’ I wanted to hit.  Envision it.  Execute it.  I was skeptical at first, but when I picked off a tennis... Read the Full Story
Posted by Tom Garrity on June 7, 2017

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