If you own a private business, it is a significant, yet unrealized, part of your net worth.   Understanding the fundamentals of business valuation can help you develop strategies to increase the value of your business.  Only 2% of new businesses create intergenerational wealth.  Improve your odds with these tips.

This Episode provides some basics on business valuation and suggests 5 strategies to increase value.

Valuation multiples are inversely related to risk. Reduce risk, value increases. Here are some tips.

Did you make New Year’s Resolutions?  Do you expect to keep them?

This Episode provides a frame for creating lasting change.

1. Start with an AIM; a value; a direction.

2. Design a system to move in that direction.  In other words, do something different.

3. Use a goal as an objective possible outcome to measure the effectiveness of the system.

4. Understand the habit loop and the need for a valuable reward in order to make the new system sticky.

TheScottSinclair.com

How to create lasting positive change. There are 4 steps.  Podcast Dropping in Morning

Motivate behaviors of any individual or group of people by attacking the habit loop.

A framework for how to think about private company investments. For the investor and investee

Don’t think of NY resolutions as hard goals. Think of them as a renewed sense of purpose and aim.

What is the most exciting and potentially life changing story of the past few days / weeks?  

Could it be the turnaround of Twitter?

The collapse of FTX into possibly the largest fraud of all time?  

How about the US solving fusion energy?  

Or how about artificial intelligence? 

In this Episode, I play around with the new ChatGPT, a prototype artificial intelligence chatbot developed in 2022 by OpenAI which specializes in dialogue.

I have asked this protype to draft blog posts, write a short speech, and to write the heart of this show for me.  All of that was done well and in about 3 seconds.

Check it out for yourselves.  This technology will change everything about your business.

This Episode is an insightful leadership discussion with Robert Jordan, leader of InterimExecs of Chicago, providing access between the best interim and project executives in the world and company owners seeking brilliant leadership on demand.

Robert has helped launch, grow and ultimately sell a number of fast growing companies.  His first company, Online Access, put him on the Inc. 500 list of fastest growing companies. 

He is the author of How They Did It: Billion Dollar Insights from the Heart of America and author of How They Did It: Real World Advice from Today's Most Successful Entrepreneurs.

• If you've got this Rock Star Executive that has just done incredible things in their career, that's a sacred trust.”  As an agent, you… shower clients with love and affection.  I thought - that's what you need to do with these executives.

• Not everybody is meant to be in leadership.

• Fail fast.

• For the exceptional people, whether they would say it was intentional or not, they just tended to gravitate more and more towards their strength, intuitively making better decisions, intuitively putting themselves in the way of better outcomes.

• What you tend to see among exceptional people is that they reject more of what is not for their highest and best use.

• One of the key things we noticed about exceptional leaders is that, while the first ability of exceptional leaders is doubling down, equally important is this ability to collaborate on steroids.

• Integrity is wholeness. It is being true to your word or to a collective set of values.

• There has to be within you a sense of that you're holding accountable to yourself.

• You have to stay at the center in the midst of all the chaos.  And, for me, part of the answer is that for years I've meditated.

• A lot of people get frozen because of what they think. The magnitude of the decision is usually not the one that will destroy the company.  And so the point is, make the decision.

• The problem, I think, for a lot of people, is they think what they do is who they are.  And so, if this project or little experiment fails: Oh, my God, I'm a bad person!

• Just grant yourself ninety seconds of silence and quiet. Put the technology away and just focus on your breathing and see what happens at the end of the ninety seconds.

TheScottSinclair.com
https://interimexecs.com/

Wow!  How entertaining has the Twitter turnaround been?  And, some excellent lessons for all of us trying to lead change in our businesses, organizations, lives.

Creating change is the process of trying different actions and seeing if they work.  How do you know if the new action is working unless you have values / goals to measure success against?  Turnarounds start with values.

Change agents, including turnaround leaders, generate hate.  Everyone is invested in the status quo and so, by definition, some stakeholders are going to be unhappy.  Turnarounds require a leader to define their own success, to be empathetic, but also focused.

To make more money, increase contribution margin first.  That often includes increasing prices.

To make more money, cut overhead.  In times of scarcity, back to basics is always best.

thescottsinclair.com