Business Tips

Last month, I was honored to present at the 2022 Exit Planning Summit in Scottsdale, Ariz. The keynote speaker was Gino Wickman.

Wickman is the founder of the Entrepreneurial Operating System (EOS) and author of “Traction: Get a Grip on Business.” Wickman describes EOS as “a set of simple concepts and practical tools used by more than 142,200 companies worldwide to clarify, simplify, and achieve their vision.”

He listed 20 disciplines business owners should follow to live their optimal life.

“I believe you deserve it.” Wickman shared. “I believe you owe it to yourself and the people in your life to live your optimal life.” Of those 20, I’ll share 10 designed to help

When you launch your own business, the last thing on your mind is how to exit. But eventually, the time will come when you want to sell your company to either retire or move on to other opportunities. When that time came for me, I opted to sell my company not to outsiders, but to key employees within my organization. Nine years ago, I received a blind email from a management consultant specializing in exit and succession planning. What got my attention was his mention of an employee-based buyout plan. That sounded very attractive to me; I could create long-term wealth for myself, give key team members an opportunity for ownership, and ensure that the company’s legacy would live on. I began by promoting two key employees, Colby Walton and Jason Meyer, to full partners. They started assuming more responsibility in running the company, and I reduced my active involvement.