Core Score | Realign with Your Business Partner

There was once a company that was expanding very, very quickly and they didn’t have the personnel to provide the services. What entrepreneur wants to turn down work? The typical lifecycle of a new entrepreneur goes like this:

We live paycheck to paycheck.
We do all of the work.
We don't have enough capital to start.
We don't have enough employees for the jobs.
We don't have enough sales.
And then suddenly you have more sales than you can service.

Core Score had a client that we needed to help to solve how to turn down work to protect the success of the company and the family going forward.

What Happens When Owners Are Misaligned?
When business owners are not on the same page, it can lead to confusion, inefficiency, and ultimately, failure. Just like a vehicle with a misaligned tire, a business can struggle to move forward effectively. Miscommunication and lack of tough conversations can derail progress and create friction among partners.
How Can Misalignment Affect Your Business?
Misalignment among owners can lead to a breakdown in communication, resulting in missed opportunities and a lack of clarity in decision-making. This can create a toxic environment where trust erodes, and the focus shifts away from growth and success.
What Steps Can You Take to Realign?
To realign, it's crucial to engage in open and honest discussions. Establishing a framework for regular communication can help address differences and set a unified direction. Consider leveraging peer support from groups like Core Score to gain fresh perspectives and accountability.
Is It Time to Exit the Business?
If you find yourself consistently misaligned with your partners, it may be time to evaluate your role in the business. Understanding your position and the potential for exit can help you make informed decisions about your future.

We had a company that had three owners. And the reason why they were struggling is because the three owners were not aligned.

When you have a tire on a vehicle that's out of alignment, all of the other wheels are rolling very effectively and efficiently. Then, the fourth tire wants to pull left all of the time.

Their business was out of alignment. The communication begins to break down. They are not talking and having tough conversations. This is real life in a multi-owner business. Remember, the commercial airliner is only on course 2% of the time. The other 98%, the plane is off course and it's making corrections. This company and their three owners were absolutely aligned when they started their business. But then life occurred, and misalignment begins.

If your company is misaligned and you know you're the one that's misaligned with the other two who are wanting to go this path, then how are you going to exit the company and how do the other two come up with the capital to buy you out. How do you bring up the conversation in a compassionate way to continue building the future success of the company. Often, it's the perception of the navigator that can bring the tough questions to the owners. This lets the navigator be the one to challenge the status quo allowing the owners to be strategic.

Core Score helped this company achieve an exit strategy for the partners and the one partner that was misaligned the most was able to take a new path in his life.

If you are an entrepreneur, do you have an exit strategy? If you are in a partnership, do you have a plan for a partner to be able to exit the business?

Many entrepreneurs start their companies without any thought of the exit. If you can operate for 30 years without one, why would it be important? We can promise you, "Every owner will exit their company!" It's just a matter of was it done strategically to set up the company to succeed in the future? Or was it ignored or left to chance or ASSumed that it would all work out?