How can it be true that the more I work in my business, the less it’s worth?
I first heard this comment from a fellow EOS Implementer™, Kevin Armstrong, who hails from Vancouver. He explained that the notion came to him when he was working with a small business owner who wanted to sell his business.
To the business owner’s dismay, a valuation expert told him that because he had always controlled everything and had not developed a strong leadership team, the valuation he desired was dependent on him staying in the business. He was stuck!
The 2013 article “Why You Should Work From a Coffee Shop Even When You Have an Office” inspired this post which explains the importance of taking the time to focus on your business.
Entrepreneurs and leaders of companies of all sizes oftentimes get lost in working in their business. The to-do list they came into the office with in this morning grew, not shrunk, by the time they left the office. The urgent drives out the important. What do you do about it?
In their periodic leadership meetings does your leadership team spend endless amounts of time discussing issues? Never seeming to reach a conclusion or make a decision?
One of the transformations that happens to companies when they implement EOS® is that they create a leadership team that trusts each other. Often, before EOS, company leaders spend lots of time in unnecessary meetings updating each other on commitments they have made to each other or on the progress of the functional group they lead for the company.
“Spreading true rumors” is a phrase I picked up when reading Patrick Lencioni’s book, The Advantage – Why Organizational Health Trumps Everything Else in Business. Lencioni says that the rumor mill is the most pervasive means of communication in most companies – spreading misinformation and causing confusion in the company.
Instead of trying to stop the spread of information by word of mouth, Lencioni suggests that leaders should take advantage of this medium and spread true rumors.