Robert J. Zarlengo, Inc.

Thanks to PSA TEC for selecting me to speak, for the fifth year in a row, at their annual conference in Denver. On May 4th I spoke to business owners about creative ways to motivate, compensate, and retain key employees and how those key employees are vital, not only to the success of the company today, but to the owner’s eventual successful exit from the business.

Knowing and managing what drives your business is a primary focus of an exit strategy and working that plan. And an exit strategy can yield the best business plan possible.     Even if you think you’re too far away from an exit to need a plan (although it’s never too early to start), as a business owner, you need to know your value drivers. As we start planning for next year, it’s a great time to identify your top value drivers and prioritize them in terms of which need your attention when.  

As a business owner and leader, working ON your business – not just in it – is imperative if you’re going to keep your company on track, moving in the right direction, and reaching the milestones identified for your success and sustained growth.     Working ON our businesses is a frequent discussion topic among the members of our Exit Planning Peer Advisory Board (PAB) and it’s a practice that participants have come to value. It can be summarized as investing your time, energy, and efforts into building, managing, and adjusting your business strategy and model, as opposed to focusing on the execution of day-to-day tasks.     For many business owners – especially those of small businesses – the challenge is in freeing up the time to dedicate to this important task. My blog provides some tips on finding time for this essential activity and how best to use that time.  

Accurate and timely financial statements are critical to all aspects of business, from day-to-day operations to informing major decisions. Yet even the most thorough financial documents are of little benefit if you don’t understand how to read and interpret them.    Read my blog to learn which financial statements are most essential and how understanding the data they provide come into play in various areas of your business. 

Business truly is built on relationships and trust. It’s especially rewarding when business relationships become friendships and working together with mutual trust leads to success. Thank you Todd Coday for your longtime friendship, your trust, and your kind words.     “I’ve worked with Bob for several years. He has not only been my trusted CPA but is now a good friend. A few years ago, he helped me exit from my long-time granite counter supply and installation company, Avanti Granite and Marble, with a keen eye on the timeliness of my exit and maximizing revenues for the best outcome. The result was a successful exit, which has enabled me to start another company. I trust him and value his years of expertise.”  –Todd Coday, TDC Marble Corp.   https://lnkd.in/ehQdbxH 

Survey results from the U.S. Bank 2024 Small Business Perspective indicate that 73% of American small business owners say their business has grown in the last year.     It also reveals that small business has been growing as they face labor challenges including being understaffed, navigating a more competitive labor market, and working to increase salaries to keep pace with inflation.     Owners are also taking proactive steps to help attract and retain employees. 83% say they plan to offer flexible hours to support a healthier work/life balance.     Check out this insightful article with a link to the full report.  

We all know that the results we want to achieve are much more likely when we have a plan. An exit plan, or strategy, will produce one of the most thorough, long-term business plans possible. It is built on your actual, eventual objective, with a focus on increasing and maintaining the value of your business. Learn how exit planning can kickstart sustainable growth.  

According to writer, Kevin Brent, “Contrary to popular belief, creating an exit plan doesn’t automatically mean that you are building a business to sell. In fact, it means that you are more likely to build a resilient and long-lasting business as you are able to plan for unforeseeable circumstances.”     You’ve often heard me advocate that having an exit plan is one of the very best ways to build your business today and that an exit plan will provide you with one of the most accurate and thorough business plans possible. There are many reasons an exit plan is an asset, regardless of if and when you plan to sell your business. It’s a great thing for entrepreneurs to build into their start-up activities.     Read this insightful article and contact me for a complimentary consultation if you’d like to discuss the many ways an exit plan can benefit your business right now. 

We’ve heard that great leaders are born, and that great leadership can be learned. Reality demonstrates that both are true.     Three characteristics that seem to be innate to some individuals – but can also be cultivated – are indicative of good leadership skills. Check out this interesting article that explores key elements that set leaders apart.  

Many individuals and other businesses depend on yours so don’t leave their futures to chance.    Take time now to anticipate, address, and document the events and circumstances that would need your attention and how to minimize risks in your absence. A business continuity plan can mean the solid business you’ve built remains strong. What better legacy can you leave?     A business continuity plan is an important part of an exit strategy. As with all exit planning, it benefits your business today. I’d welcome the opportunity to help you put these important plans and documents in place. Contact me for a complimentary consultation.