Now most of my blogs have been supportive of SBO’s and I try to be objective and sensitive to the entrepreneurial spirit, but today was one of those days that I have to vent. Today I am wearing my Advisor hat and nothing else. I’m not a fellow business owner, or entrepreneur, just an advisor. Consider me a coach, telling you the way it is. I’m not going to defend or explain away the SBO’s perspective so just sit back and listen.
First, the title of this article should not really be about honesty since I do think SBO’s want to hear the truth. Truth is in the eye of the beholder and maybe it’s that they don’t like straight forward talk. The best comparison to an SBO is that they are like parents and their child is the Company. All business’s are like children and the have a life cycle like everything else. They start small… and are all consuming, then as they grow they become more independent and self supportive until eventually they start to slow down and shrink. The business owner reacts just as a parent does when you criticize their Company. The owner might hear me but I don’t think they are listening. They defend the Company as if you were attacking their own mother. It’s incredible that SBO’s complain about the negative results but they fight any changes suggested.
A SBO is paying me for advice on selling a business, yet arguing and getting mad for the changes I suggested in order to make the Company more valuable. Now this is not a new client that I have something to prove to, but on the contrary, a long time client who I have said “I told you so” too many times before. I am explaining what the “value drivers” are for his business and how he needs to make changes in order to maximize his Company’s value and yet he still didn’t listen. He heard me, nodded his head like he agreed and then proceeded to do the exact opposite. It’s like talking to my teenage son who asks me a question and then walks away when I am still answering. UGH!!
My advice to you entrepreneurs is to get a good adviser or two, who really care about you and your success, and let them evaluate your business objectively and LISTEN. I care, we all care, about the success of our clients and we have a skill set that allows us to see things you can’t. It is always the parent who is last to see the problems in their children. Don’t let that happen to your business. Stay in trees and ask for help to see the forest. But when you ask, PLEASE listen. We really do care and really want to see you succeed, I promise!
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Tags: professional experience, professional help, SBO, sell my business
