The Building Business Value newsletter has one purpose - to assist midmarket business leaders in their never-ending quest to build better companies. Whether you are the CEO of your own company, a senior manager of a business unit, or a leader in a company that serves those in the mid market, you will find something in each newsletter to help you serve your stakeholders. Each month we will cover a variety of topics, all focused on leading in the mid market.
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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It's What You Don't Know That Can Kill Your Valuation
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Experience is a business essential but if used as an excuse to kill innovation, it will end up killing the company. Here is how the board room conversation in a midmarket company typically flows. The CEO wants to drive revenue in the next two quarters in order to meet the company's annual revenue targets. The head of marketing presents a warmed over version of the last years outbound marketing plan. The head of sales presents a channel program that last year never really got off the ground and said it just needed a bit more energy to succeed. Product development talks about add-ons and professional services presents their new finder-minder-grinder model.
None of these by themselves are terrible ideas, although they are perilously close. But they represent a way of thinking that causes a company to get stuck in a pattern of focusing entirely on operational efficiency. Operational efficiency is important, but not sufficient.
Creativity and innovation rarely show up on valuation reports, but they are key ingredients to building long term business value. Every company needs to stretch and that does not mean stretch sales goals. It means innovation and creative thinking.
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| Do You Have a Great Workplace Story to Share?
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I'm working on another book and I'm looking for 20 Great Workplace Stories. Each story should be about how someone in your workplace (be specific):
- took initiative
- overachieved on a customer expectation
- innovated on a business idea
- lowered costs
- increased productivity
- built a team
- over communicated through a tough business problem
- aligned a team to meet a goal under pressure
Basically, something that made you say WOW. A story you repeat over and over because it is just the kind of behavior you want to see in your company every day.
The DEAL:
Enter a response (just shoot me an email - marty.oneill@corsum.com) and receive a FREE copy of my latest book "Building Business Value." If we use your story in the book, you'll receive two FREE copies of the new book (scheduled for publication in March, 2011).
Entries should be about 300 words and we'll need permission from all parties prior to publication.
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| Any Revenue is Good Revenue
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No, it isn't. Mid-market executives who feel that way are coming from a scarcity mentality in which they believe that if they don't scoop up every piece of revenue, regardless of whether it makes sense for the company, they're going to starve to death. They get used to selling anything to anyone. This habit is an easy one to develop during challenging economic times due to the uncertainty of your customer base. It is even a tougher habit to break as the market improves because you become addicted to the revenue.
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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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