Chaos and Order
What a day of contrasts.
In the morning I worked with a business owner, not in control. He knows his business but not hands on. He runs his business from a helicopter, employing people instead. Nothing wrong with this of course, in fact many business owners strive for this.
However, I noticed in my interview that he has lost touch. He doesn’t know how much he owes his suppliers; he doesn’t know the make-up of sales nor what stock items are selling better than others. Some supply chain issues mean he is not stocking his shelves with the right stuff. There is no attempt to look for alternative suppliers.
This business, (A), is performing badly. It needs work.
He wants out.
In the afternoon I met with another business owner. The contrast was tunning. He is all over his business. He knows his employees, their background, and their capabilities. He knows his customers well, suppliers and subcontractors, particularly who can be relied on. He forward plans his business activities 6 months ahead of time. I asked many questions and the responses were well considered and detailed.
This business, (B), has had stable profits for some time.
He wants out too.
Good businesses sell themselves.
Which business would you buy A or B?
