About 20 years ago, Michael Gerber wrote a landmark book entitled The E-myth. In this excellent book, he coined language that is now fairly common in business. He wrote about working “on the business” versus “in the business.”
Like many business owners, I struggle with allocating appropriate time to “on the business” issues such as succession planning, strategy, marketing and business development. I can easily get caught up with allocating all of my time to our primary business of consulting.
Lately, we have been finding our way toward allocating significant time to “on the business” planning for North Group Consultants. In fact, we have taken our first and very significant step toward planning the future of our firm. For the first time in over 15 years, I am no longer the majority owner of North Group. We recently completed an internal stock transaction wherein my four partners – Daryl Leisey, Jerry Murray, Craig Schloneger and Brian Black – purchased additional shares of stock as a first step in our succession planning process.
This was not a one week conversation. We took close to three years to talk through how we could best “honor the entity” – determining the best and brightest future for the mission, core values, employees, and clients of North Group. One conclusion was easy. We want North Group to grow and serve well beyond the tenure of the current ownership team. Of course, there are emotional, relational and financial issues involved. We worked through them also. It took time, energy and a few engaging disagreements!
So, we are “taking our own medicine.” What we do for our clients we are actively doing for ourselves.
I hope you will give us a call if you desire a conversation about how you can allocate more of your precious time and energy to working “on the business.”
And, by the way, Happy New Year!