November 30, 2023

Episode 95: Christine Nicholson, Business Mentor and Exit Planner

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The Story

One of the deepest and most valuable conversations you can have with your business owner/business leader clients is in regard to the future of the business without them. It's about exit planning and succession, about preparing the business for their exit, whether it's an internal or external sale, and about whether the management team will continue in their footsteps.

But how do you have those conversations? What questions do you ask? On what topics do you want to zero in and focus so that your clients get real value from that conversation?

On this podcast discussion with Christine Nicholson, she unpacks her 30 years of experience, allowing you to take away a number of key insights that will stimulate great conversations with your clients, as well as within your own firm, so that you can prepare your accountancy firm for a better future without you as a manager and leader.

Scroll down this episode page for the contact information for Christine and for the additional, downloadable resources mentioned in this podcast.

The Solution:

So, in my experience, lots of business owners actually accept a level of mediocrity in their employees that they don't have to because they make themselves the pinch point within their business.

But if they actually delegated, under control some of the decision-making, they would be releasing the potential for their employees and, of course, if the employees constantly have to keep going back to and referring back to the owner for decision-making, then they actually step back themselves.

They reduce their own expectation of themselves and they can actually physically see their own potential diminishing, and then you start losing your good people because people who are conscious that they are not developing themselves will go and move somewhere where they can develop.





Connect with Paul

Resources relating to this podcast:

During the podcast, Paul and Christine review the advantages of thinking about and getting your business exit-ready. They also discuss how you can help your clients link the numbers of their business to the outcomes they want to achieve, not just now, but in the future as well.

Christine talks about the process of separating yourself from the jobs you currently do by determining which can be delegated to someone else or which can be stopped altogether.

Business owners are often so consumed with daily firefighting that it's unlikely they have taken the time to consider what might happen if they stop doing a particular job or task.

But when you start working out which activities generate little or no gain, and then devise a way to stop doing them, you will free up time to start working on your business, not just in your business.

Click the button below to read the Business Breakthrough report 'Stop to Succeed' and work out how to create a stop-doing list in your firm and how to help your clients create lists of their own so that they can realise the dreams they have for the future of their own businesses.

Paul and Christine talk all the way through this podcast about the importance of decisions - how to make the right decisions, the danger when no decision is made and the importance of empowering your team to make decisions of their own.

Towards the end of the podcast, Christine highlights decision-making as the biggest challenge facing business owners, and why it is important that decision-making be distilled to the lowest possible level in every business.

The decisions made in your firm ultimately determine its success. Do you have a decision-making process?

Click the button below to read the Business Breakthrough 'Winning Decisions' to discover how to improve the quality of your decision-making process.

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