A business therapist isn’t a coach to motivate you or cheer you on. I won’t have you take a seat on a virtual couch. Instead, I get involved in your businesses and help make your long-term vision a reality.
An Outside Perspective is Required
Business succession is hard to navigate. You have your lawyer. You have your financial planner and accountant. Do you have someone to help guide you through everything else?
Succession is not just about money and legalese. There are many important questions for you to consider:
- How do you mold your business today so that your grandkids can pass it to their grandkids?
- How do you build your customer base now so that it will last through the decades?
- How are you going to pass the helm without affecting customer loyalty?
- How are you preparing your successor (or successors)?
- How are you going to step back fully confident that your business will last?
When building a business to last, you can’t forget about culture, accountability, trust, and performance.
A business therapist will help you create a successful business trajectory that will last the next twenty-one, forty-five, or even the next eighty-eight years. This trajectory will help you grow your business in a feasible, sustainable manner.
Business Therapists Start with Business Culture
A business therapist will start with you. Why? Because a strong, thriving culture within the walls of your business begins and ends with you. It’s crucial to understand how your actions – what you say, what you don’t say, and the things you do and don’t do – set the foundation of a business culture designed to drive long-term growth and sustainability.
You’re not a sociologist or psychologist. You’re in business because you love the trade and the potential freedom it can bring you.
But, it’s important to create and maintain a culture that’s true to you. Your family, your employees, your customers—all of these various groups must be on board for your legacy to carry on.
A business therapist works with you to create or modify a business culture that will attract employees and customers and make the business last.
How Many Hats Can You Wear?
In the early days of your small business, you laid the first bricks of its cultural foundation. The beginning is a tough time; everyone wears multiple hats to make sure things get done. Wearing all those hats allows the company to get on its feet.
At some point, those hats must be passed on. If not, trouble ensues. The culture suffers. The likelihood of sustainable growth diminishes—and quickly.
A business therapist evaluates the human side of your business. He or she will help you structure the business relationships of your family members, board members, employees, and even customers. The therapist will help increase internal and external communication, improve employee and customer retention, and help you find the right people to wear each of the many hats in your business.
Know and Stay True to Your North Star
The North Star – also known as Polaris – is famous for appearing to remain nearly still while the entire northern sky moves around it. It’s the single point that can be used when all other methods of navigation fail. The North Star has allowed people to sail the seas and cross the trackless deserts without getting lost. When slavery existed in the United States, escaped slaves counted on the North Star to light their way to the free states and Canada.
Though our work together, a client of mine was able to define her business’s North Star; I then helped create ways for her to share her guiding light with others. She grew her business 120 percent in less than a year despite having had a near-zero advertising budget. Recently, she’s been in the process of handing the business down to her daughter, and because she could point to her business’s North Star, she and her daughter have been discussing what the business should look like in twenty-plus years. They’ve been talking about what steps they can take today to achieve their goals. Their efforts have sparked conversations among their employees and customers, ultimately leading to the acquisition of new customers from across the globe. They’re on the cusp of altering an entire industry and helping others in their industry grow.
The process of using your North Star to create sustainable growth (and, ultimately, succession) is important culturally and communicatively. Your business’s North Star should be defined and communicated both internally with employees and externally with the public at large.
Your business therapist will help you define your North Star and strategize ways to share it with others.
Business Therapists Understand and Navigate the Human and Operational Sides of a Business
Every year, the Edelman Group conducts a worldwide survey about trust in different industries. According to survey results, the most trusted type of organization is a family-owned business. Customers are more empathetic toward family-owned businesses, and the public has a natural desire to help family-owned businesses succeed. This is especially true when the customer has a sense of personal involvement in the business’s success, much like a mother, father, or sibling would. Customers want to watch a good company grow up. Even if it’s subconscious, customers will root for the business to succeed.
If it’s going last through many generations, a business needs to be viewed as a living human being. Owners need to use their North Star to personify their businesses and help them grow up. Humans have a natural tendency to bond with family members, and a business therapist can help your customers bond with you.
There is Your business therapist can help you navigate the sociological, psychological, artistic, scientific, strategic, communicative, and human-relationship sides of your business.
Want to learn more?
Part of being a business therapist is being available to answer questions. If you want to learn more or setup a consultation, contact me. Looking forward to hearing from you.