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Do you remember the old adage, “Nothing is certain but death and taxes”?  Well, add one more item - exiting your business.  The question is:  will it be on your terms?  This Number Tells A Sad Story  The Exit Planning Institute (EPI) has found that over 75% of business owners who have exited their business ‘profoundly regretted their decision.’  Seventy-five percent! What’s going on here?  Wasn’t... Read the Full Story
Posted by Tom Garrity on March 14, 2017
Some of the best-laid company plans were created on the back of a napkin. Lots of scribbles and doodles, but in the end, that lunch time, strategy brain dump was like gold. And it all fit on ‘one page’.   As businesses grow, leadership gets so engrossed in survival that they forget to stop, review, and update their ‘plan’ for growth. Eventually, the team loses sight of the ‘One Page Napkin’ (or... Read the Full Story
Posted by Tom Garrity on February 14, 2017
I’m a big tennis fan and have been enjoying the Australian Open the last two weeks. It’s the first leg of the four grand slam tournaments of tennis (Australian Open, French Open, Wimbledon, and US Open).  This tournament had a number of story lines, but none better than the men’s final of Roger Federer of Switzerland vs Rafael Nadal of Spain.  Dig deeper was the theme of the match.   A brief... Read the Full Story
Posted by Tom Garrity on February 1, 2017
I recently read a great blog by Benjamin Hardy, where he shared a conversation between a mentor and student about goal setting, and it went like this…  Mentor: “Are you interested in achieving these goals, or are you committed?”  Student: “What’s the difference?”  Mentor: “If you’re interested, you come up with stories, excuses, reasons, and circumstances about why you can’t or why you won’t. If... Read the Full Story
Posted by Tom Garrity on January 24, 2017
Get the right people on the bus
Playing off Jim Collin’s well known work in his book Good To Great, all great companies figure out who first, then what – get the right people on the bus, the wrong ones off, and get everyone in the right seat – then we’ll figure out what to do.   So who ARE the ‘RIGHT’ people?   Those that first, align to your core values, and then second, have the skills and competencies to produce results in... Read the Full Story
Posted by Tom Garrity on January 4, 2017
Developing your company’s strategy can be daunting.  Where do you start?  Who should be included in the planning sessions?  How do we get to a meaningful plan that can be implemented?  How do we make sure this isn’t just an intellectual exercise?  Building a good business comes down to 3 fundamentals…the same 3 we use as a parent raising kids: 1.     Have a handful of rules 2.     Repeat yourself... Read the Full Story
Posted by Tom Garrity on December 20, 2016
We live in a harried world.  Everything is changing, and it’s changing at an accelerated pace.  Sometimes it just feels like it is going to spin completely out of control.  At our core, we long for happiness.  For many of us, our belief is if we work harder to become more successful, we will find our happiness.  But I’m going to suggest we have the formula backwards.   In his book, The Happiness... Read the Full Story
Posted by Tom Garrity on December 7, 2016
If you had $1 million dollars of cash stashed under your bed, you would check it regularly and take all the precautions necessary to ensure its safety.  Of course.  However, we all have one possession that is more valuable than money – and that is time.  Yet many of us do little to protect it.  In fact, we give it to thieves – selfish people, egotistical people, negative people, abusive people,... Read the Full Story
Posted by Tom Garrity on November 22, 2016
How do I create an exit plan?
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.   How do you determine which one is right for you? For a family business owner, few questions require as much soul-searching as the issue of whom to transition ownership to when it’s time for you to retire.  ... Read the Full Story
Posted by Tom Garrity on November 7, 2016
Is your business for sale every day?
The statistics of family business transition success (or lack thereof) are well known: Just 33% make it to the second generation, and only 5% make it to the third.  Rags to riches to rags.   Many family owners think legacy is about maintaining the ‘business’ for future generations.  But this thinking is probably the #1 reason family businesses don’t survive.  The purpose of the business is to... Read the Full Story
Posted by Tom Garrity on November 1, 2016

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