The Building Business Value newsletter has one purpose - to assist midmarket business leaders in their never-ending quest to build better companies.
If your company provides services to the Federal Government and a component of your strategic plan includes an exit strategy, you should consider attending the following Mergers and Acquisition conference. Each participant will receive a free copy or our new book, "Building Business Value".
We are very conscious that you spend much of your day buried in e-mail, so it is with your permission that we send this newsletter your way.
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| Building Business Value?
Look in the mirror... |
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We all find it difficult to take a good hard look at ourselves. We become indignant when others point out our flaws. For example, you know you need to perform an exorcism on your lawn, but you're not thrilled when your neighbor makes the suggestion. You may also know you need to loose a few pounds, but when your spouse points this out, you feel betrayed. You mean I don't look the same as I did in college?
It can be threatening to look at yourself in the mirror and make an honest assessment. Bonnie Raitt shared her thoughts on aging in her 1990 hit "Nick of Time".
"No matter how you tell yourself, it's what we all go through.
Those lines are pretty hard to take when they're starin' back at you ... Scared to run out of time"
We are all a bit frightened of the future, but I can assure you, it's not going to get any easier if you are afraid to look in the mirror.
Think about putting your company in front of that mirror.
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Leadership Strategy
Who Are You Having for Lunch?
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Let's make a list of what most midmarket executives do for lunch each day.
- Run down the street and grab a quick sandwich
- Drop off their clothes at the cleaners
- Catch up on e-mail
- Pour over a proposal that is due to go out at 4pm
- Review sales forecasts
- Fill out their NCAA brackets
- Meet with a client
- Meet with the accounting firm to discuss the last months books
- Trade in your Treo for a Blackberry
- Shop for the 3 gifts you were supposed to buy last week
- Find out why project 'Avitar' is behind schedule
We all get caught up in life's fire drill activities that are certainly urgent, but rarely that important.
A biological given is that we all have to eat. Well, if you are like me, you miss a meal from time to time, but that is missing the point. Just as everyone needs nourishment during the day, every midmarket exec needs to find more ways to evangelize the vision as well as continue to take the pulse of the organization. Let's put the two together and see what we come up with.
Make a list of your next generation of leaders. You know, the superstars that work for the people that work for you. Not your direct reports; I'm guessing you spend enough time with them. Focus on the second level of your organization. The program managers building your next new product are on the list. So are the regional managers that rarely make it to the home office. Don't forget the recruiter or the sales rep or the accounts payable manager that may not really understand the purpose of the company.
Once you've made your list, review the list with your direct reports and let them know that you are going to be scheduling one-over-one lunches. Commit to twice a week lunches for the next 6 months. Do your homework before you meet with them. Find out what they do each day, what they do well, where they went to college and details of their family life. Be prepared to give your best elevator speech but more importantly, be prepared to listen.
These sessions are called One-over-one's because you are "jumping over" your direct reports. You are making a very conscious effort to personally promote the mission, vision and purpose of the organization and your are making a commitment to listening to the folks in the trenches.
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This Holiday Season, Give a Gift with Real Value |
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Send your clients a copy of 'Building Business Value' ~ Add a custom label with your company logo and personalized message.
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Retail $22.00
21 - 40 books > 30% discount = $16.00 / book
41 - 200 books > 50% discount = $12.00 / book
200 + books > 60% discount = $9.00 / book
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As a business operator, I have been in a position to lead a company during troubled times. Concerns over the direction of the company, sleepless nights worrying about debt and cash flow, high anxiety over closing a deal or a transaction⎯the challenges seem endless. But I've also experienced the highs of leadership⎯the real joy of meeting client needs, the fulfillment of shaping a team, and the satisfaction of watching a vision become reality. As tough as it can be, there is really nothing quite like being a leader in the midmarket.
It is my sincere desire that this newsletter will support leaders in the midmarket as they navigate their way to building stronger, more valuable companies. I welcome your comments.
Sincerely,
Marty
Martin O'Neill
Corsum Consulting, LLC
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| Marty O'Neill |
Marty O'Neill founded Corsum Consulting, which focuses on one goal: helping companies build business value. He is a frequent speaker and consultant on leadership, corporate culture and building business value and is the author of Building Business Value (Third Bridge Press) and the co-author of Act Like an Owner (Wiley). As a business operator, Marty started and sold a company, positioned another for an LBO, and helped a third sell for a significant premium. Marty lives on the Magothy River in Maryland with his wife and three children.
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Building Business Value: How to Command a Premium Price for Your Midsized Company
by Martin O'Neill (Third Bridge Press)
Hardcover 
List Price: $22.95
Our Price: $15.96 Buy Now
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Act Like an Owner Owner: Building an Ownership Culture
by Martin O'Neill (Wiley)
Hardcover
List Price: $39.95
Our Price: $24.53 Buy Now
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