CEO Exit Strategy Tips From One Of The Top 40 Under 40

Wind Mobile founder Anthony Lacavera has started 12
businesses, six of which he has exited. His exits have ranged in value from the
$6 million he got for one of his recent start-ups to $1.3 billion when he sold
Wind Mobile. He did it by following two key CEO Exit Strategy tips.

•           Understand
what kind of company you are running

Lacavera has owned hyper-growth unicorns and
lifestyle businesses and urges entrepreneurs to be clear about their long-term
prospects. Lacavera started a business supplying hotels with internet access
and understood the company would be a good cash generator, but would never sell
for a mint. He ran the business for almost two decades and used the cash it
generated to fund various other ventures. Recently, he finally sold the
business, which was generating $1.5 million in pre-tax profit, for $8 million—a
relatively modest 5 times earnings, which was fine by Lacavera, because it had
served its purpose of funding other companies along the way.

•           The
role of CEO and owner are not the same

Lacavera encourages entrepreneurs to separate the
role of CEO and business owner. Even though they may be the same person, they
have different functions and, at some point, your business may be better served
by separating the two roles. Entrepreneurs who are comfortable handing the
reins to a professional manager may do better in the long run than those who
need to control everything.

Lacavera had great success, which is visible in the
fact that he has won just about every business award there is, including 2010
CEO of the Year, Top 40 Under 40, Deloitte Technology Fast 50, and Canada’s
Fastest-Growing Company. One of the top secrets to Lacavera’s success — knowing
when to bring in a CEO to replace himself in any of his ventures.

For more information on the Value Growth Partners
ceo exit strategy, contact us today at (312) 525-8382 or visit our CEO Exit Strategy page.

Do You Want to Learn CEO Succession Planning Best Practices?

Did you know the ideal timeline for succession planning is 5 years? It is possible though for the unexpected to happen and if/when it does, a CEO succession planning best practices is to have a game plan i.e. a succession plan all lined up and ready to go to ensure continued success with your business.

Take a look at the CEO Succession Planning timeline here:

THE SUSTAINING PHASE

Begin this phase 2-3 years in advance. The executives are preparing to thrive under the new leadership; Right Mindset, Future Outlook, Organization’s Sustainability, Updated Strategic Plan, Executive Team Assessment, and Internal Team Candidates.

THE TRANSITIONING PHASE

Begin this phase 6-12 months before the leadership transition and consider overlapping with the Sustaining Phase. The organization embarks on the executive search process for the successors that may include board members, management team, and executives. Extensive work is done with transition planning.

THE ONBOARDING & SUPPORT PHASE

The heavy lifting is completed within the first 3-4 months of this phase but the hand-off process continues over a 6-12 month period. The board and senior management team access and adjust to the new leader’s management style and leadership role.

CONTINUED SUCCESS PHASE

The succession preparation and planning process should begin as early as possible. However, there are cases when you do not have the luxury of 4-5 years to plan. In these cases, it is best to have a contingent succession plan in place in the event that an emergency arises.

Value Growth Partners is here to assist with all of your succession planning needs. Request a 15-minute consultation with Value Growth Partners now to set up your CEO Succession Planning.

Blogging Guide And Tips

The present days are not like the past one, as internet has actually altered everything. Blog sites and sites are increasing every day and you will get practically all the details through these blog sites. While some blog sites are filled with poetry and stories, you will likewise find blog sites with images, organisation tips, present news etc. Blog sites have risen to millions and this has put the teens in trouble as they do not know what to write. So, in current times many teenagers’ blogs have disappeared. If you are a teenager who is not exactly sure what to write in your blog site, then read the following post.

Coming up with originalities to add to a blog site can be tough. The simplest topics are those that impact your business every day. Choose some service or products to highlight. Answer concerns that customers ask often. Showcase brand-new items, unusual news in your industry or unique occasions that include your company. Ask for visitor blog posts by readers or staff members if you run out of concepts. Encourage people in your office to send concepts.

Try to go over concerns that are always going to matter. writer blogs about concepts that will remain appropriate for several years will eventually draw in more readers than posts that are only suitable for a short time.

When you use Google site map generator Google sends its spiders The Google spider to crawl and index your website. As quickly as you correct any site-map mistakes the site-map generator told you about the spider will find it index worth to index it once again properly.

The first thing you need to do is choose what you wish to blog about. Personally on my blog site I focus on author blogging and web marketing. I chose these topics due to the fact that I have enthusiasm for them. , if you pick a subject that you have passion for than it will make writing fun and much simpler..

It is a good idea to establish a savings account so that a part of your month-to-month incomes can be stashed for the future. You might require your savings for an emergency that might arise. Moreover, if you require money for something, it is easy to count on this savings account instead of fall much deeper into debt. A savings account will help you in feeling more safe and secure and more confident.

Whatever you do, ensure you blog about something you delight in speaking about and understand well. You desire to build a strong credibility. That will give you your best possibility to earn great cash and have a good time with what you are doing.

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