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 The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

Released Thursday, 2nd May 2024
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 The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

 The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

The Rhythm of Business: How Systemising Execution Drives Growth and Value by Patrick Thean

Thursday, 2nd May 2024
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Have you ever stopped to think about why creating a steady rhythm of work and planning in your business is so essential for its growth and success?

In this episode, Patrick Thean explored the significance of slowing down and taking the time to work on your business, not just in it. This insightful discussion highlighted the importance of systematically laying out long term goals, annual plans, and quarterly objectives to ensure the execution of your strategy.

Patrick emphasised the need to not just set goals but also to define what success looks like. It's not just about saying, I want to grow my business, but about specifying the parameters of success, the actionable steps, and what achieving those goals would actually mean.

This valuable insight resonates deeply with the need for businesses, regardless of size, to create a structured rhythm of work and planning. It's about more than just having a plan; it's about visualising the plan, documenting it, and working collaboratively to achieve it.

By implementing this approach, businesses can avoid the chaotic approach of continuously being in the thick of operations and, instead, focus on strategising and executing with consistency and predictability.

This method not only sets the groundwork for sustainable growth but also plays a fundamental role in creating an environment where candid and spicy conversations are not just encouraged but essential for progress.

The key takeaway here is that by investing time in creating and working within a structured rhythm of planning, businesses pave the way for sustainable growth, increased consistency, and a higher chance of achieving a premium exit when the time comes.

How do you approach the rhythm of work and planning in your business? Share your thoughts! If you find these insights helpful, please share them with your network.

Watch the episode here: https://succession.plus/uk/podcasts-uk/patrick-thean/

If you would like to learn more about how to start preparing your business, then you can get more information here: It All Begins with Insights.

#BusinessStrategy #RhythmofWork #Planning #Execution #BusinessGrowthLearn more about your ad choices. Visit megaphone.fm/adchoices

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From The Podcast

Exit Insights

Welcome to the podcast that's dedicated to helping business owners prepare for exit so you can maximise value and exit like a boss.I'm Darryl Bates-Brownsword and I want to introduce you to the Exit Insights podcast presented by Succession Plus. The aim of the podcast is to share the message that if you want to get the most from your life's work, maximise the valuation and exit on YOUR terms, then you will need to prepare your business so that it's ready for exit, you are exit ready and the business is attractive to be acquired.Did you know that 55% of exits are unplanned and are due to death, divorce, or disability, and for those business owners that do get to take their business to market only 20% of them end up agreeing on a deal? there are also too many deals that are never completed because the owners left before the earn-out agreement was completed. It doesn't have to be this way! You'll be interested if you are a business owner and you've been running your business for a few years now and you are at the early stages of thinking about what's next for you. You're going to be in the 1 to 30 million revenue bracket and you're likely to be based in the UK, USA, Australia, or New Zealand. You may be feeling stressed or frustrated with running the business or you may be running out of energy or simply looking to change direction. It doesn't matter why you are looking to exit or sell; this podcast will help you to identify best practices and what you have to do to orchestrate an exit on YOUR terms.We are addressing the burning issues and topics that business owners want to know about when they start to think about selling their business. Guests include experts from all areas related to the succession planning and exit planning process - from employee ownership, personal financial planning, tax, legal and through to estate planning. We're also talking to people who have already sold their businesses and tapping into what the experience was like and what they learned along the way. We ask them what they know now that they wished they knew before they started the process. We discuss the 21 Steps used by Succession Plus and developed by Craig West to help you structure your business so that you're one of the 20% of business owners who will be able to complete a successful exit. The topics will include things like:When should I start planning?What is an exit strategy and exit planningHow will I exit my business?Can I sell my business - is my business sellable - who will buy my business?How will the business be valued?What's my business worth?How can I improve the business valuation - value potential?What can I do to make it more attractive to be acquired and speed up the process?How do I prepare my business and make sure that it's exit-ready?How long will it take to prepare the business for sale?Will I have to work an earn-out period?M&A and acquisitionsOwner dependenceSystemising, systems and systematizingGrowth and scalingBrand value and IP - (Intellectual property) including intangible assetsHow do I increase the multipleI want to sell my businessCan I sell my business to my employees MBOWill I get all my money upfront?What are the risks for me when I sell my business?What will happen to the employees?What will happen to the brand?What about my legacy?How will I know that my business is exitable?When should I start exit planning?Who should I tell that I'm thinking about selling my business?If this sounds like the questions that you want answered, then I hope you enjoy listening and learning how to exit like a boss.If you like what you've heard so far, please subscribe so that you will be notified of each new episode.

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