leadership Archives - Your ExitMap https://yourexitmap.com/tag/leadership/ Free Exit Planning Tools for Business Owners Mon, 25 Aug 2025 15:56:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://yourexitmap.com/wp-content/uploads/2026/03/cropped-Site-Icon-YEM-2-32x32.png leadership Archives - Your ExitMap https://yourexitmap.com/tag/leadership/ 32 32 122889523 Decisions Made from Fear https://yourexitmap.com/decisions-made-from-fear/ https://yourexitmap.com/decisions-made-from-fear/#respond Mon, 25 Aug 2025 15:56:03 +0000 https://yourexitmap.com/?p=10377  “I’m taking the logos off my trucks. It just makes them a target for personal injury lawyers.” “I don’t want to put our newest product innovations on our website. The competitors just copy them.” “We’re creating a human resources LLC so that employees are separated from the rest of our business. That way we’re safer from spurious claims.” “We pay all of our employees to bring their vehicles back to the yard every night. We don’t want to be responsible for what they do on their own time.” “We were thinking of opening a new location, but the news says the economy might dip.” “I ... Read more

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]]> https://yourexitmap.com/decisions-made-from-fear/feed/ 0 10377 Purpose – Life After the Sale Part 3 https://yourexitmap.com/purpose-life-after-the-sale-part-3/ https://yourexitmap.com/purpose-life-after-the-sale-part-3/#respond Fri, 03 Jan 2025 15:03:10 +0000 https://yourexitmap.com/?p=9766 The third component of life after the sale is Purpose – “Having as one’s intention or objective.” Many exit planning advisors discuss the three legs of the exit planning stool – business readiness, financial readiness, and personal readiness. In our previous two articles, we focused on two of the “big three” components of a successful life after the sale, activity and identity. The third is purpose.

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]]> https://yourexitmap.com/purpose-life-after-the-sale-part-3/feed/ 0 9766 My Interview with Jerry West on Management https://yourexitmap.com/my-interview-with-jerry-west-on-management/ https://yourexitmap.com/my-interview-with-jerry-west-on-management/#comments Thu, 29 Aug 2024 13:20:16 +0000 https://yourexitmap.com/?p=9329 I once had the thrill of interviewing Jerry West on management. He was “The Logo” for the NBA, although back then they didn’t advertise him as such. Only the Laker followers knew for sure.

Jerry WestIn 1989 the “Showtime” Lakers were coming off back-to-back championships. Pat Riley was a year away from his first of three Coach of the Year awards. Jerry was the GM. Many people don’t know this, but starting when Jerry West was drafted in 1960 until he stepped out of the GM role in 2002, the Lakers only missed the playoffs twice. Those seasons (74-75 and 75-76) were the only two seasons out of 42 that West was not on the Laker payroll.

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]]> https://yourexitmap.com/my-interview-with-jerry-west-on-management/feed/ 1 9329 The House of Gucci Succession Plan https://yourexitmap.com/the-house-of-gucci-succession-plan/ https://yourexitmap.com/the-house-of-gucci-succession-plan/#respond Thu, 04 Apr 2024 17:14:47 +0000 https://yourexitmap.com/?p=8872 The Gucci brand started with two brothers who own the family business equally. Each brother had a son, and each son was to inherit the empire. One of the sons was a ne’er-do-well, who always attracted and found trouble. Despite nobody ever giving him a chance, the viewer could tell his successor ownership was doomed. The other son married the woman who was played by Lady Gaga. The story progresses through time as one of the fathers die and the other goes to jail while the wife rises to power and greed. To complicate the succession plan, lavish lifestyles, poor business decisions, children and divorce ensue.

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]]> https://yourexitmap.com/the-house-of-gucci-succession-plan/feed/ 0 8872 Do You Suffer From Decision Addiction? https://yourexitmap.com/do-you-suffer-from-decision-addiction/ https://yourexitmap.com/do-you-suffer-from-decision-addiction/#respond Mon, 21 Mar 2022 14:24:47 +0000 https://yourexitmap.com/?p=6945 Do you suffer from decision addiction? The typical business owner lives on dopamine.  According to WebMD: Dopamine is a type of neurotransmitter. Your body makes it, and your nervous system uses it to send messages between nerve cells. That’s why it’s sometimes called a chemical messenger. Dopamine plays a role in how we feel pleasure. It’s a big part of our uniquely human ability to think and plan. Feeling the Rush That’s what business owners do; think and plan. Their lives are a chain of thought processes that go “What if I do this? How will it affect the business? Then what would I do ... Read more

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]]> https://yourexitmap.com/do-you-suffer-from-decision-addiction/feed/ 0 6945 Key Employees: Build and Protect Business Value https://yourexitmap.com/key-employees-build-and-protect-business-value/ https://yourexitmap.com/key-employees-build-and-protect-business-value/#respond Fri, 12 Nov 2021 20:18:33 +0000 https://yourexitmap.com/?p=6769 Key Employees You may have people working in key roles who are instrumental in growing and building the value of your business. These key people can be identified as having the following characteristics: Makes a substantial business contribution Possesses critical information or knowledge Maintains and nourishes key contacts and relationships Sellable Business In helping clients plan to build a sellable business, and then eventually exit on their terms and conditions, we emphasize that “key people are a key value driver” in realizing success in both of those strategic goals. And, we find it helpful for owners to have two categories in mind when considering key ... Read more

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]]> https://yourexitmap.com/key-employees-build-and-protect-business-value/feed/ 0 6769 Non-Qualified Plans https://yourexitmap.com/non-qualified-plans-in-exit-planning/ https://yourexitmap.com/non-qualified-plans-in-exit-planning/#comments Fri, 24 Sep 2021 15:04:17 +0000 https://yourexitmap.com/?p=6690 When I talk to business owners about “non-qualified plans,” their first reaction is often “Hold on there. I don’t want to get in trouble!” The term “Non-qualified” merely refers to the Employee Retirement Income Security Act of 1974, more commonly known as ERISA. As the title indicates, it is the basic set of regulations for retirement plans. If your company offers a 401K or SEP IRA, it has a Qualified Plan. If you have an Employee Stock Ownership Plan (ESOP), that is also an ERISA plan. Under the terms of ERISA, a plan must be made available to all employees. In return, the company can ... Read more

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]]> https://yourexitmap.com/non-qualified-plans-in-exit-planning/feed/ 1 6690 Internal Leaders Affect the Value of Your Business https://yourexitmap.com/internal-leaders-affect-the-value-of-your-business/ https://yourexitmap.com/internal-leaders-affect-the-value-of-your-business/#respond Fri, 12 Mar 2021 16:34:26 +0000 https://yourexitmap.com/?p=5762 Internal leaders may not be obvious. They may not even have a “leadership” title. Make no mistake, however; internal leaders are critical to value and attractiveness when it comes to selling your business. In Super Bowl 55 we saw the impact of an internal leader. Tom Brady has the highest winning percentage of any single athlete in major professional sports. The Tampa Bay Buccaneers have (or at least did up until this season,) the worst win/loss record over their entire existence of any major professional sports team. Yet one man changed the culture of the organization almost overnight. Remember, for all the accolades being heaped ... Read more

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]]> https://yourexitmap.com/internal-leaders-affect-the-value-of-your-business/feed/ 0 5762 Exit Planning and Marathon Runners https://yourexitmap.com/exit-planning-and-marathon-runners/ https://yourexitmap.com/exit-planning-and-marathon-runners/#respond Thu, 25 Feb 2021 20:28:19 +0000 https://yourexitmap.com/?p=5734 “Eat well and exercise!” Just about everyone over 30 has heard this advice from someone interested in our health, usually a doctor. We all know that we should begin by doing SOMETHING, yet we wind up not really doing anything. We know deep inside that if we want to live long and prosper, taking a few painful steps will have long-term pay-offs, but all too often those first few steps never happen. What has this got to do with Exit planning? Business owners know they should be taking steps to plan for the future, but all too often they don’t seem to get around to ... Read more

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]]> https://yourexitmap.com/exit-planning-and-marathon-runners/feed/ 0 5734 The Coaching Skill in Exit Planning https://yourexitmap.com/the-coaching-skill-in-exit-planning/ https://yourexitmap.com/the-coaching-skill-in-exit-planning/#respond Fri, 15 Jan 2021 20:16:23 +0000 https://yourexitmap.com/?p=5655 The single most important talent in your exit planning team is coaching skill. I’ve written often in this space about the need for multiple talents, from taxation to legal, financial planning, and risk management. None, however, is more important than coaching. Let me put it this way. Your planning team can be led from any position, as long as the person leading has coaching skill. If he or she doesn’t, all the clever tax advice or ironclad documentation in the world won’t lead to your successful transition. But if the person leading the team is an experienced coach, you’ll probably be okay. What is Coaching ... Read more

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]]> https://yourexitmap.com/the-coaching-skill-in-exit-planning/feed/ 0 5655 Your Exit Plan: The 3 Inarguable Reasons to Start NOW https://yourexitmap.com/your-exit-plan/ https://yourexitmap.com/your-exit-plan/#comments Sun, 14 Jun 2020 01:00:38 +0000 http://www.awakeat2oclock.com/?p=4683 What is Your Exit Plan? If you’ve ever done a business plan for the purpose of raising capital, one of the key questions is “What is your exit plan?” Many business owners think that question is self-serving, intended merely to let the venture capitalists figure when and how they will get their return on investment. In truth, however, that question is far more important. An exit plan is a strategic plan with an end date. Putting a time frame on your plan, and defining the goals to be achieved by that date, creates a future-focused mindset for the owner. It controls and reduces your tendency ... Read more

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]]> https://yourexitmap.com/your-exit-plan/feed/ 1 4683 EBITDAC : What is Your Business Worth Now? https://yourexitmap.com/ebitdac-what-is-your-business-worth-now/ https://yourexitmap.com/ebitdac-what-is-your-business-worth-now/#comments Mon, 20 Apr 2020 17:14:50 +0000 http://www.awakeat2oclock.com/?p=4657 Several friends have sent me a picture of an EBITDAC coffee mug this week. As it states, EBITDAC stands for Earnings Before Interest, Taxes, Depreciation, Amortization and Coronavirus. Will this be the new measure of cash flow for valuing your business? A bleak joke, but one that is on the minds of many business owners, especially Baby Boomers in their late 50s and 60s. Many were postponing their exit planning because business has been so good. As one client told me, “In March we had the best year in the history of my company. It looks like April might be the worst.” Downturns aren’t new, ... Read more

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