Art & Espresso - Talking Business Growth With Greg Beck

If you only had 5 working hours before you had your phone/computer/internet taken away...how would you spend it?  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

You have to both do something that requires tremendous willpower every day AND make time for the diminished resource to replenish.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Sorry gentle listeners, I have all the questions but NONE of the answers today.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

The greatest creative types usually worked a well defined schedule but no real agenda within those times.  They also never told themselves no, but rather "yes , and..." to keep the creative process going.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Good news - these are 100% addressable.  Bad news - you have to have the humility to ask for help from experts.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Of all the reasons a transaction can "fail", these by far are the most common ones.  And NO ONE wants to talk about them.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

What makes this so insidious is that these CANNOT be fixed.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

There are 7 deadly sins of a strategic transaction and they occur at 3 points in a deal.  Knowing this alone, as G.I. Joe said...is half the battle.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Both humiliating and transaction related!  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

They can wreck your car, your trip...or your company.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Building on my last podcast, we explore more deeply why 70% of strategic transactions fail to reach their goals and what we can do about it.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Every time a strategic transaction fails it is for one of 7 reasons at one of 3 points in the time line.  WHY WON'T WE LEARN?Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Ok, maybe that is a bit much.  But if there is no clear point of differentiation between you and the larger market you have to compete on price.  And that is a race to zero you don't want to win.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

In most asset sales the transaction is debt free and cash free, meaning that the owner gets the cash but has to pay long term debt.  But there are some situations that call that into question.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

NO ONE is better at corporate-speak gibberish than me and I have no clue what this man meant.  Why don't we just talk like normal people when working in a strategic setting????Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

You don't need 10,000 hours to master something.  You need the results of 10,000 small, cheap, fast experiments that help you understand the situation better.   Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

In the new year, try to be the dumbest person in the room.  Check your ego at the door (which is 95% of it) and go in with a sincere desire to ask the best, most engaging questions you can.  For as counter intuitive as it seems, there is no downside to this when done properly!Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Try this instead.  Look at what 4% of relationships are generating 64% of the value for your company (a version of the Double Pareto Rule) and send them a bespoke note or text.  Or be a real Luddite and send them an actual handwritten note.  They will appreciate it more than you know. Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

I was having an espresso (of course) with a fractional CIO here in town and in a collegial way he voiced a lot of concerns about executive coaching that, in my opinion, are indicative of the myths surrounding the practice.  I address them head on in this podcast.  Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck

Unlike many advisors I actually love how the consulting space is thematically evolving - starting with with the Deming Model, then to Management By Walking Around, to Six Sigma, etc.  They are all building upon each other and that is good for business.  The Enterprise Operating System is the latest evolution and overall I think it  is a solid methodology and solves A LOT of problems, especially for small businesses.  I do see some challenges with it from a strategic transaction standpoint and I share those here.Greg BeckChief Growth OfficerFocalPoint Advisory Serivceshttps://gregbeck.focalpointcoaching.com/https://transactionreadiness-gregbeck.scoreapp.com/gbeck@focalpointcoaching.com513-379-2399www.linkedin.com/in/greg-beck