Dear Reader: We are re-publishing a few of our more popular pieces over the next few weeks. Here is one of our favorites from earlier this year. We hope you enjoy the Insight Refresher as we move through 2021!
I recently read a very insightful article on lessons great leaders learned in 2020 during what can only be described as 12 months of unprecedented challenges. Written by the CEO of Vistage, Mr. Sam Reese, it outlines some fantastic ideas business leaders can take from the year and apply in 2021 and beyond.
As many of you know, Vistage is the largest CEO coaching and peer advisory organization for small and midsize businesses in the world (Generational and Vistage have a national strategic alliance). Mr. Reese has had an extensive career as a business leader and has gained valuable insights that he helps his members apply, especially after one of the most turbulent years in our generation.
Entitled, “Hindsight 2020: Lessons in leadership from a challenging year”, I would strongly suggest that you take a few minutes out of your day and read it. I think you will find it as worthwhile as I did.
Every point Reese makes is valuable to all leaders, but one of them really caught my eye:
Identify your company’s biggest challenges, then learn from them.
Over the past year, many leaders have had to innovate and overcome extraordinary challenges just to stay afloat. While many faced the obvious challenges brought on by the pandemic, others identified internal, operational and fiscal obstacles of which they weren’t aware.
Leaders have learned to be flexible in order to meet customers’ changing needs, adapted to working virtually and pivoted along the way. The most successful leaders have quickly determined what their company’s pain points have been and leveraged those to guide the path forward.
As we have mentioned before, as amazing as this sounds, 2020 turned out to be a record year for Generational in terms of deals closed. None of us expected to see that happened when March of 2020 hit.
And, although much of our success is due to the unbelievable team of professionals we have working for the firm, another key part of it was the amazing and inspiring way our clients adjusted operations, focus, and adapted to ever-changing circumstances. Our success in 2020 was inspired by the clients we get to serve every day.
Another real benefit to our clients was the addition of Generational Consulting Group (GCG) in 2019. The team with GCG has proven to be extremely effective in helping our clients implement both tactical and strategic growth plans that have proven to really add value to their exit planning. Have a listen to what a few of them say about GCG’s amazing success with their businesses:
As we have all learned the hard way, doing business as usual wouldn’t work in 2020 and will probably have long-term impacts on how all sorts of industries and companies operate well beyond 2020.
So, learn from Sam Reese and apply those lessons in your business as well!
And if you would like to learn more about all the services Generational provides that can help you succeed and eventually exit your company for maximum profit, follow these links and then reach out to us for more information:
Carl Doerksen is the Director of Corporate Development at Generational Equity.
© 2021 Generational Equity, LLC All Rights Reserved.
Thank you again for all your guidance and support. Any company will achieve what they intend, if they have you on their team!Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Your wisdom and experience were invaluable to me during this once-in-a-lifetime transaction.Ralph Noblin, President of Noblin & Associates
We knew it would be a difficult task to have someone really understand our business and our market, prior to researching a possible buyer, so it was imperative that we found someone of your caliber, with definite proven experience in this area.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Michael worked tirelessly, He followed every lead meticulously and urgently to make sure nothing was missed.Robert Evans, President and CEO of Mealtracker Dietary Software
I need to say an immense thank you to Don Ho for his stellar work ethic, attention to detail, and tireless effort. Also thank you to the whole crew at GE! Without you, Don could not do such a phenomenal job. We were shooting for closing and funding before the end of 2020, due to the uncertainty of the political landscape and taxes. I am happy to report we closed last week and will be funding tomorrow.Dr. Caty J. Catron PhD, RN, VA-BC – Owner, Vic The Picc, LLC
We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Generational Equity educated and informed us – so that we could be on the upside of a good decision (to sell).Bil MacLeslie, CEO, ipHouse
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We are extremely pleased with the way Generational Equity handled the sale of our company. Your associates, Tom and Chris, did an outstanding job of getting us (me) through the process.Michael J Polarek, President, Paragon Packaging
I must say that I have never worked with a more driven, competent and focused individual as Don Ho.Jay Dinnison, Owner of Sharpe Mixers
We were happy to see the interest in our company and what we cherished has not just a valuable company but an important company to the communities we served in.Larry Moore, Owner, A Company Portable Restrooms
Bruce and I wanted to take this opportunity to thank Generational Equity for assigning Musa Jagne to our transaction. In Bruce’s words, “Musa did one hell of a job for us!”Karen S. Williams, CFO, BW Manufacturing
T.D., thank you so much! You are a great leader! I love how you are using your gifts and talents to better others. You are clearly a GREAT COACH! This 3 day session undoubtedly changed the future of our business, and very well may have been the sole catalyst to save my company, my health and my marriage! A genuine “thank you” from the bottom of my heart.Bryan D. Horn, Owner, Over Under Clothing
I couldn’t have asked for a better team than Michael and Deborah. We couldn’t have done it without them.Robert Evans, President and CEO of Mealtracker Dietary Software
I wanted to write you a quick letter to express our appreciation and our delight on the outcome of helping us through the process of our recent sale. We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.Terry D. Wickman, President, Keytroller
I would like to thank you and your firm, Generational Equity, for being our valued advisors in our journey.Bil MacLeslie, CEO, ipHouse
Dear Chris and Andre, I just wanted to say thanks for all your help. Even though this process was not an easy one, it was comforting to know that I had a capable team standing beside me. You made me feel like we were almost your only client or at least the most important one. Thanks again, and I will recommend your service in the future.Shenille Engelhart, Owner – CLS Technology
I quickly recognized that Don was working for Sharpe Mixers above all else, and held our interests above others.Jay Dinnison, Owner of Sharpe Mixers
Generational Equity’s assistance was invaluable in compiling and marketing our business.Bil MacLeslie, CEO, ipHouse
The process was much more involved than I expected and your help, experience and advice was a big factor in making the negotiations go as smoothly as possible.Terry D. Wickman, President, Keytroller
I am pleased that I was able to work with Andrew Byrd throughout this experience. From the first meeting we had in Minneapolis I felt that I was in good hands. His knowledge and expertise is second to none. He guided the process consistently throughout. I feel lucky that I was pared with Andrew and could not be happier that I chose Generational Equity to handle this major life event. Thank you Andrew and GenEq for everything!Eric Erlandson, Owner, Action Fastenings, Inc.
Tom Staszak is one of the most professional people I have dealt with in my last forty years of business. You’ve got a great group of people and you have built a truly professional organization.Michael J Polarek, President, Paragon Packaging
Greetings Mike. Thank you for the captivating and compelling presentation you made at the Phoenix presentation last week. Over many years in business yours was the most informative and well-presented presentation, on any subject, that I have ever attended! Your energy and enthusiasm combined with your concise and captivating support of your positions with easily understood examples and data was compelling.Pete L.
Thanks again Phil and feel free to have a future client call me if they would like a referral. You are a true professional!Andy Graham, Vice President, Modern Heating & Plumbing
The help you provided us during each step of this process made us feel very comfortable and confident we were selecting the right approach to transition our Company.Andy Graham, Vice President, Modern Heating & Plumbing
We thank you Eric and Generational Equity making our dream come true.Larry Moore, Owner, A Company Portable Restrooms
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