At the Channel Partner Expo in Boston, Larry Kesslin, president of 4-profit, an advisory firm to the IT channel, told agents that they needed to choose which business they were in.
Kesslin said a business owner has a just a few options: grow his business, groom it for sell or maintain it to support his/her lifestyle... “You can’t be all three,” he cautioned, noting the business decisions required in pursuit of each path usually are contradictory. For example, a growth business owner would reinvest profits in expanding the company, while a lifestyle business owner would take that money out of the business in support of his/her lifestyle (e.g. luxury homes and vacations or greater freedom to pursue non-work interests, hobbies).... Similarly, a growth business has systems and processes while a lifestyle business has little infrastructure, he said....The type of work talent that’s attracted to each of these models also varies. A go-getter salesperson might be lured into a growth company, but will find no career trajectory in a lifestyle-oriented business. [Phone+]
Which business are you in? Decide because it really matters today.