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#307: [Owner Success Stories] Are You Running a Lifestyle Business or Are You Creating a Valuable Asset?
Ep. #3 [THEME TWO]
We have two business owners, Rob Dube and Cindy Banchy, on the show to wrap up our second theme, “Are You Creating a Lifestyle Business or a Valuable Asset.” They share how they shifted their mindset to think about their company like an asset, what their future goals are, and how their lives - and businesses - have changed since they adapted this new mindset.
Rob and Cindy discuss the three areas they focused on to help them run their company like and as an asset: trust your people, understand your financials (using the three financial statements), and follow your vision. Both of them dive deep into those three areas and pretty much give away the start-to-finish foundational points that will allow you to turn your business into a valuable asset, create future options, and how to successfully sit in the “owner’s box” instead of the management team.
//WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast
What You Will Learn
What it took for Cindy and Rob to shift their mindset to view their company like a financial asset and not just a job.
Why Rob believes financials truly tell the story of the health of a business.
How each business owner views their company and their relationship with the business and management team.
Ownership roles vs. management roles and how that relates to normalized EBITDA.
How each business owner separated their ego from their business to better run their business like an asset.
How Rob and Cindy built the trust around their people so they can step away for weeks at a time.
How Rob and Cindy manage their rhythm between their managers without stepping on each others’ toes.
The intrinsic benefits of understanding the financials.
How combining the three financial statements has allowed Cindy and Rob to understand how much they can pay themselves and give out for raises.
Why culture can add asset value to the right buyer and also allow your business to better run as an asset.
// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment
Bio:
Cindy Banchy:
Cindy is the President and Regional Master for Vanguard Cleaning Systems of Minnesota, a commercial cleaning master franchise located in Minneapolis. Prior to Vanguard, Cindy was with IBM from 1989 through 2005.
Cindy loves spending time taking adventure travels to new countries, competing in long-distance triathlons, taking epic lo
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By Arkona - Intentional GrowthEp. #3 [THEME TWO]
We have two business owners, Rob Dube and Cindy Banchy, on the show to wrap up our second theme, “Are You Creating a Lifestyle Business or a Valuable Asset.” They share how they shifted their mindset to think about their company like an asset, what their future goals are, and how their lives - and businesses - have changed since they adapted this new mindset.
Rob and Cindy discuss the three areas they focused on to help them run their company like and as an asset: trust your people, understand your financials (using the three financial statements), and follow your vision. Both of them dive deep into those three areas and pretty much give away the start-to-finish foundational points that will allow you to turn your business into a valuable asset, create future options, and how to successfully sit in the “owner’s box” instead of the management team.
//WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast
What You Will Learn
What it took for Cindy and Rob to shift their mindset to view their company like a financial asset and not just a job.
Why Rob believes financials truly tell the story of the health of a business.
How each business owner views their company and their relationship with the business and management team.
Ownership roles vs. management roles and how that relates to normalized EBITDA.
How each business owner separated their ego from their business to better run their business like an asset.
How Rob and Cindy built the trust around their people so they can step away for weeks at a time.
How Rob and Cindy manage their rhythm between their managers without stepping on each others’ toes.
The intrinsic benefits of understanding the financials.
How combining the three financial statements has allowed Cindy and Rob to understand how much they can pay themselves and give out for raises.
Why culture can add asset value to the right buyer and also allow your business to better run as an asset.
// USE YOUR FINANCIALS TO CLARIFY A PATH TOWARDS A MORE VALUABLE BUSINESS: Intentional Growth Financial Assessment
Bio:
Cindy Banchy:
Cindy is the President and Regional Master for Vanguard Cleaning Systems of Minnesota, a commercial cleaning master franchise located in Minneapolis. Prior to Vanguard, Cindy was with IBM from 1989 through 2005.
Cindy loves spending time taking adventure travels to new countries, competing in long-distance triathlons, taking epic lo