Ellen McIlhenny - “The Smart and Savvy Exit – Building Value for Exit Part 3”
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I love stories of entrepreneurs who turn their passion into a business.
I had a lazy, snowy Sunday this past weekend. My husband and I had to find something we both wanted to watch on television, which these days can be difficult. We have given up news, network television certainly isn’t marketed toward our demographic anymore; when I say demographic, I mean OLD.
So, my husband convinced me to watch a YouTube series he has been following. While I spend most of my time on podcasts, he watches a lot of YouTube channels usually about products he is looking at (It’s the modern version of being addicted to Consumer Reports). Anyway, he found one channel that piqued my interest in more ways than one and we ended up spending almost all day watching a show called Kara and Nate.
The reasons I loved it is first: it is about travel and showed destinations all over the world and second: it is a story of two millennials building a thriving small business doing exactly what they want to do. I was fascinated by their ingenuity and found myself wishing that I had followed my entrepreneurial tendencies much earlier in life.
Show Objectives - The Why
This week is the third in a series of shows in which we will look at specific ways to build value in the company prior to exit.
Today we will be talking about How to hire and keep good employees. Yes, good employees do help build value in your company. I’m sure all of you have heard the statistics on how much it costs to on-board new employees not only in the time it takes to get that employee at 100% productivity, but the time it takes for someone to train them. It can be in the 10’s of thousands of dollars.
Next Week: Episode 6 of Season 4 – Another Interview..
Written by Ellen McIlhenny
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services. Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com
You can connect with Ellen on any of her #cfoplusservices platforms or email@example.com
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