A GREAT EXIT REQUIRES YOU BUILD A GREAT TEAM - For business owners who want to have a great exit, developing a high-performing team who will stay around after the sale is key to having the most exit options and the best sale price. As HBR lays out, great teams care about each other, have the ability to hold each other accountable and give each other constructive feedback without fear. In fact, once teams can achieve the crucial level of connection and trust, believing that their intentions are good toward each other, then they can debate constructively, find the best solutions and act much faster and more decisively. They create a safe space for openness and honesty that allows everyone to thrive, and the company culture and performance then soars.
The 5 things in this article are great benchmarks to see how your team is doing and what you need to change to improve as a team. At its foundation, teams need to feel connected, which requires higher levels of communication, which leads to a greater understanding of each other as genuine people, which leads to greater acceptance and trust. We don't trust what we don't understand, therefore communication, especially empathetic listening is crucial. So, how much armour is your team wearing around each other and what can you do to build the team rapport?
I’d like to hear your thoughts on this, please share in the comments and pass it on. Remember, only 1 in 10 owners exit successfully, will you? If you want to exit in the next 5 years and you aren't diligently transitioning already, you are taking a huge risk. If you want an outside opinion on your exit readiness, and the things you can do to maximize value such as incorporating ESG, we have a pro-bono exit readiness assessment you can do in 5 minutes, that will give you some great insight, at no cost, no risk and no obligation. MExit – Value Builder PREScore - https://score.valuebuildersystem.com/prescore/proactv-business-solutions-inc/robert-welke
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