Disillusion. What a fascinating word. How many Baby Boomer business owners do you know (perhaps yourself?) who have become disillusioned?
The recession and the long period of uncertainty that has followed. It looks like the underlying causes of the implosion of the financial industry in 2008 haven’t been addressed let alone resolved. Government officials haven’t risen to the occasion and done the jobs citizens pay them to do. Disillusion.
International competition. Most Baby Boomer business owners recognize globalization. But how does a privately held US based company compete with a business based in China where the hourly workers are paid so much less and work so many more hours without overtime rates involved? Disillusion.
Advances in technology. Oh it’s great to participate on a SKYPE call with your grandchildren who live on the other side of the country. And Wii bowling is fun. Getting movies through Netflix for your flat screen HD/3D television is a pleasant perk. But on the business side, technology keeps raising customer expectations and the EXPENSE, the constant training, the disruption, and the bottomless pit of change related to IT can be very discouraging to a Baby Boomer owner of a privately held midsized company. Disillusion.
If it is a family owned business, the next generation doesn’t seem to want to learn leadership skills or work hard. They don’t seem ready or as interested in taking over the family business. An unfulfilled life plan. Disillusion.
There are solutions to this situation. They all begin with the Baby Boomer owners doing some self examination to admit how disillusioned they have become. Plus, in many cases, they would need to be willing to be a whole lot less stubborn. Less pride and less secrecy. The rules have changed and continuing to run a business in a state of denial won’t help.
My prediction? There will be a SPIKE (huge rise) in the number of (formerly midsized) businesses being dissolved in a few years. Unaddressed disillusion leads to dissolution.
Aldonna R. Ambler, CMC, CSP has earned the right to be called THE GROWTH STRATEGIST™. She has won over 2 dozen national and statewide “entrepreneur of the year” awards for the resilient growth of her international businesses across 4 recessions. Her midsized BtoB clients get on…and then stay on…the published lists of the fastest growing privately held companies. She owns and operates a suite of companies that help privately held midsized companies achieve accelerated growth with sustained profitability® through opportunity & resource analysis, strategic planning, executive advisory services, growth financing, and targeted search. 2012 is Ambler’s 8th year hosting a weekly peer-to-peer-to-peer syndicated on line talk show that features interviews with CEOs/Presidents of midsized companies (typically between $20 and 200 Mil/yr) sharing success tips about the growth strategy-of-the-week. An archive of over 300 interviews is available at www.GrowthStrategistShow.com. She can be reached toll free at 1-888-Aldonna or at Aldonna@AMBLER.com.
Known as The Growth Strategist®, Aldonna Ambler built and grew a suite of companies to help midsized B2B companies achieve accelerated growth with sustained profitability® A Certified Speaking Professional (CSP), Ambler has addressed over 2000 audiences and hosted a syndicated online talk show about growth strategies for 9 years. As a growth financing intermediary, Ambler raised over $1 Bil dollars for midsized companies. The winner of over 2 dozen prestigious national and statewide "entrepreneur of the year" awards, Ambler is available to speak about “profitable growth during any economy” and/or serve on the board of a growth-oriented privately-held company.