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Preparing For The Unthinkable

February 22, 2016 by Lisa Anderson

CEOSURVIVAL

I just learned of the loss of an amazing leader, resource and icon in the GovCon industry.  Willie Davis was the Master Connector and loved helping build business within the community.  He didn’t know this, but he was one of my mentors.

I interviewed with his first company, Birch and Davis, many moons ago when I was starting my career in Accounting. While I decided to take a different position, I remained impressed with and by Mr. Davis and his business savvy.  I’ve followed his footsteps and his footprint throughout the years. He certainly changed the way business was done.

In the most recent years, I participated in his networking events and watched while he brought Government and business together.   His programs have been a part of my strategic networking plan for a very long time.  Mr. Davis will absolutely be missed but not forgotten.

Mr. Davis is the second icon we’ve lost this month of February alone.  Scott Orbach with EZ GSA was also a major player, leader and game changer in the industry.  We have all been blessed by the expertise and opinions of these phenomenal individuals.

These losses bring me to the question I ask every business leader I have the pleasure of serving.  It does not matter where they are in their business cycle, it is critical that they know the answer to this question and have an action plan in place to make it happen.

That question is:  what is your exit strategy?

Preparing to exit your business is more important, in my opinion, than entering your business.  Having a plan to exit the business requires that you HAVE a purpose and you LEAD with purpose. Having a plan to exit the business establishes a road map that ultimately leads to a bankable, scalable, sustainable and ultimately sellable business.

In my career of helping small businesses grow, I’ve had the unfortunate experience of working with two other business leaders who passed away instantly and unexpectedly and neither leader had a plan in place.  Had a plan been in place, the transition to close those businesses or to transition leadership would have been smoother and seamless and most importantly free from burden or panic from family, employees, customers, partners, vendors and colleagues.

As CEO, if you want your business to survive and thrive without you or even in spite of you, here are two basic things you need to have in place.

WELL DOCUMENTED POLICIES AND PROCEDURES

In order for businesses to survive and thrive without you or in spite of you, it is critical that you have well documented policies and procedures in place for every critical business process.  Well documented policies and procedures allow for smooth and seamless transitions.  Consider these policies and procedures to be the storybook of your organization.  They make it easy for someone to pick up the book and step in behind you to take over where you left off.  Well documented means little to no training is required.  Many companies invest in process improvement training and appraisal programs as well as quality management programs as a means of beating the competition.  However, these programs also serve as the catalyst for organizational transition.  Incorporating concepts from these types of programs helps the business survive beyond or in spite of the CEO.

CEO SUCCESSION PLAN

Over my 30 year career, I have worked with hundreds of businesses and in more than 90% of the cases I’ve served, the CEO did not have a succession plan in place.  If the business is to survive and thrive without or in spite of the CEO, it’s critical that a well thought out and documented succession plan be in place.  This plan should list the roles and responsibilities of the CEO; not just what the CEO should be doing, but also what the CEO is doing.  The succession plan should identify the critical characteristics of his/her successor and answer the critical question of what it takes to run the organization.  The succession plan should preferably name someone that will and can take over leadership of the organization should something happen to the CEO.  In this instance, the succession plan should be treated like a Will, leaving no stone unturned as to who, what, when, where and how someone else shall take over for the CEO.

No one ever really wants to plan for the unthinkable.  However, when CEOs start with the end in mind, the business is designed to thrive and survive.

Take some time to check your P.U.L.S.E.™ and get back to the heart of your business.  Click the image below to learn more about the P.U.L.S.E.™ Profit Method For Today’s CEO.

 

 

PULSE

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About Lisa Anderson and Anavo Transformation Solutions LLC

Lisa is a Strategic Business Advisor who knows through first hand experience what it takes to grow and run a successful business.  She knows what it really means to remain in the game because she’s done it for 18 consistent and consecutive years.  She knows what is required to take a business from start up to multi million dollars in annual revenues.  She has successfully developed, coached, and implemented growth strategies that have helped hundreds of businesses succeed.  She knows what it’s like to own and operate multiple businesses simultaneously.  As a Certified Public Accountant, Certified Leadership Coach, and an Adjunct Professor of small business concepts, she not only has experience, but the credentials to go along with it.   Unlike other Strategic Advisors, SHE IS someone one who walks the talk!  

Lisa Anderson Founder and CEO of Anavo Transformation Solutions LLC which helps CEOs achieve their full potential  and build profitable, bankable, scalable, sustainable, and ultimately sellable businesses.  The home of the P.U.L.S.E. Profit Method For Today’s CEO, Lisa and her team of Strategic Business Advisors help organizations plan their vision, understand key impact indicators, leverage resources, scan opportunities and threats and execute their plan.  For close to 30 years, Lisa has helped hundreds of business grow while maintaining a healthy and profitable bottom line.

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Do you want to work with a leader who has a track record of running highly successful businesses and has already helped hundreds of other small businesses launch and grow?  Or do you want to stay where you are forever?  The choice is yours.

If you are an entrepreneur who is ready to take your business to the next level or if you are ready to get out of the weeds and take control of your business, schedule a 30 Complimentary Consultation with me today.

I also invite you to explore my website and learn more about how I can help you with your business, www.AnavoTransformation.com.

See you at the finish line!

Carpe Diem!  Seize the day!

Lisa D. Anderson
Strategic Business Advisor & Virtual CFO
Anavo Transformation Solutions LLC

Filed Under: Articles, Business, Business Tips Tagged With: #anythingispossible, #MyBusinessMyWay, #PurposePassionPower, success

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Plateau to Profits Podcast – iTunes Reviews

  • Next level brilliance
    April 1, 2017 by BrynneTillman from United States

    If you are an entrepreneur and are looking to take your business to the next level, this Podcast is for you!

  • Interview of Thomas Ellis on Closing the Sale
    February 27, 2017 by Mdfitchic from United States

    This has become my favorite episode because it helped me see my approach to finding and meeting prospects was wrong which is why I have difficulty closing the sale. No more chasing the wrong prospects! I am going to narrow my focus to three industries and set an agenda for every meeting. I need to get this episode transcribed because it contains so much practical and valuable information.

  • Review for the podcast of Tamara Haskins
    February 21, 2017 by Achillek from United States

    Congratulations! I listened to Tamara's interview today with Lisa Anderson on her podcast over linkedIn. I found it very well presented with and easy to follow. It reminded me of our conversation we had in Tamara's office a few weeks ago. The material was well prepared and the delivery was excellent. The tone of her voice was very appropriate and the language was professional but accessible to the layman. Really Great interview! The moderator was also excellent in that the types of questions she asked of you were very important and tailored to her audience who are small business owners.

    Great work both of you!

    Achille

  • Chief Problem Solver, Regeneration Leadership & Business Coaching
    December 3, 2016 by John Haynes III from United States

    Regarding the podcast with Patricia Daniels, How Having a Business Coach Has Moved The Needle On My Business, I wanted to offer the following:

    Very strong interview...discussion between friends and business partners. Lisa, great job, as usual! Another purposeful conversation had for business owners. Pat! Way to stretch out. This was awesome on behalf of the Ryan Odelle Mance Memorial Scholarship Foundation. And to both of you, I really think this episode can be used for MANY other non-profits - or for for-profit businesses as well - who are starting or preparing for the next season of their business. There were many takeaways, but the one that shines bright for me is knowing and remembering your reason why. And I think organizations - whether it's to start their meetings or to begin and end their retreats - can use portions of this podcast to be inspired, remember why they do what they do, and/or to go into an exercise of discovering or reformatting their why. Additionally, I also envision this podcast being the start of strategy session. Good work and great service!

  • Success leaves clues!
    November 4, 2016 by SeeInColors from United States

    When I found Lisa Anderson's podcasts I started with one and never stopped listening. She provides high quality, challenging strategies that move you out of your comfort zone. No fluff, just "straight black coffee" in her words and Its awesome.
    I am inspired and moving forward with her model for business success. Listen to some of the podcasts and you'll see what I mean. Thank you Lisa for all that you do for small and growing businesses.

  • Review for Podcast #5
    July 12, 2016 by Yhdhvgghufhg from United States

    What an abundance of excellent information provided through your Podcast, without which a lot of the public would not know about. Continue the great broadcasts Lisa. Well done!!

  • The WordPress Chick
    July 12, 2016 by Kim Doyal from United States

    LOVE this! As a small business owner this podcast is invaluable. My audience and business model is a little different, but I'm getting so much value from the interviews and new ways to structure things in my business. I highly recommend!

  • Great Business Resource for CEO's!
    July 7, 2016 by AllisonPathe from United States

    I love Lisa's straight talk. I'm now looking at new ways to take my business to the next level!

  • Managing Partner
    July 2, 2016 by RRRhodes from United States

    Your background is impeccable. This sounds like a true gift of the real thing...Black Coffee! I look forward to the podcasts. Thanks!

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Antwanye Ford President & C.E.O, Enlightened Inc.

[Lisa Anderson} has provided critical management oversight and has further played an instrumental role in analyzing the company’s financial condition.  Lisa has helped make critical business decisions while providing insight on financial impact on those decisions.  Lisa has served as Coach and Business Mentor to our Executive Management Team and our staff.  Her simple, yet Read More

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Here’s what you need to understand: I am no amateur!   I am a trailblazer who fought my way to the top of the accounting food chain at a time when the industry was dominated by men who had no interest letting a woman have her slice of their pie. I became a Certified Public Accountant, was … [Read More]

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