All posts by: Lane Michel

By Patrick Ungashick, CEO, NAVIX Consultants   I speak to more than 50 business audiences per year about getting ready for exit, putting me in front of thousands of business owners. Perhaps the biggest mistake that I hear owners making right now with regard to their exit planning is not having an answer to this......
  About this Webinar: Putting Golden Handcuffs on Key Employees: Where would your business be without your most valuable people? November 27th, 2018 @ 2PM – 3PM EDT Webinar Presenter: Patrick Ungashick CEO NAVIX Consultants   Where would your business be without your most valuable people? Without them, it would be a struggle to grow......
  For many business owners, taking a multi-week vacation sounds like torture. Even if you manage to take time away from the company for an extended period, most owners are unable to fully unplug while away. You have to bring the company with you: frequent phone calls, regular emails, and a few hours’ work here......
The number one goal most business owners wish to achieve at exit is to reach personal financial freedom. We define financial freedom as reaching a point where working is a personal choice, not an economic necessity. While everybody’s dollar amount is different, reaching financial freedom is practically a universally-held goal. To have a good chance......
Few business tools are as overlooked and underappreciated as the organizational (“org”) chart. Likely, you have diagramed one for your company. We tend to pull them out at specific moments such as when we need to meet with a third party like a vendor, customer, lender, or new hire. If out of date, which they......
A recent study of 65,390 Swedish business startups conducted over nearly 20 years offers one important insight for business owners as they prepare for exit — you might not be successful in your next venture. Puzzlingly, the entrepreneurial experience these Swedish leaders gained from starting up their companies often did not translate into positive results......
If you intend to exit by selling your company, either to an outside buyer (a competitor, private equity group, etc.) or an inside buyer (one or more employees), the price you receive at sale will likely be closely tied to the company’s earnings. The higher the earnings, the higher the likely sale price. As we......
A newly released survey explores the human side of being a company’s chief leader and offers insights for CEOs and business owners on the challenges involved in getting themselves and their companies ready for exit or success. The survey, The CEO: A Personal Reflection, was prepared by global leadership consulting firm Egon Zehnder. Over four......
  Leadership speaker and guru Brian Tracy has been quoted as saying, “If you like a person, you say, ‘Let’s go into business together.’ Man is a social animal after all, but such partnerships are fraught with danger.” He’s right. Countless men and women have said “let’s go into business together,” become partners, and built......
Dear Business Owner, You might not like this letter. Reading it could help make you a large amount of money, save irreplaceable time, and avoid an inestimable amount of stress. But you still might not enjoy reading this because it contains some facts you may find hard to hear. Our company does exit planning –......