(Pictured: Strategic Facilitation with the American Osteopathic Foundation in Chicago)

Jack is the type of business leader that we work with frequently at 40 Strategy.

Jack is most likely in his 40 to 50s.

(Yes, we have a Jill client avatar as well. That’s for another story.)

He is likely married with at least one child. He would tell you that this is one of the most important aspects of his life.

The other significant part of their life is their business.

Jack may have some hobbies, but they are no longer a top priority in their life. He makes time when he can.

What he cares about is having a business that he and his employees can be proud of.

Jack most likely has a college degree, and he would consider himself a learner, even though he may not have the opportunity to invest a lot of time into reading today because he’s so busy in his current work and spending time with his family.

Jack’s health is fine, but he’s most likely not going to be appearing on the cover of Fitness Magazine.

When it comes to social media, he doesn’t mind learning what’s happening in the news and watching events around the world, but he’s most likely not going to be diving in and posting a bunch of comments.

But he is watching, learning the scenes and trends. Always asking how he can apply that to himself and his business. Of course, most of these ideas do not get implemented. Not enough time to get them done.

What’s on Jack’s mind, the business

What mostly occupies his mind is, how can he make his business more profitable so he can create more earnings, raise salaries, pay out bonuses, and increase distributions. This will make everyone happier, a better place to work.

For Jack, this is most likely the first business that he’s ever run with significant skin in the game, i.e. ownership in the company. The business is either something that he created, he has taken over for his family, he purchased, or that he’s gone in as an investment with a private equity firm or financed by a financial institution.

The business is capable of earning at least $1 million in EBITDA, although, it might be not earning that today, it has the potential to earn more.

Financially, Jack’s comfortable. But, the results of this business are critical to his retirement.

The Uncertain Future

Unfortunately, for Jack, he most likely does not have a family member that he could pass on the business to. And the problem is, Jack is not getting any younger. Therefore, he has three options for the future:

1. Sell the company (ideally at higher value than it is worth today)
2. Convert from daily operator to shareholder of the business. This would require letting go of the day-to-day tactics, by building a strong leadership team, and/or standardize/automate processes.
3. Do nothing. Of course, this option just increases stress, and decreases value.

If private equity or outside investors are involved, they will want their investment back with a higher return. Therefore, selling may mean, rolling over a new set of investors, buying out the existing investors, or selling the company outright.

Ever since Covid, there seems to be roller coaster after roller coaster of uncertainty. The election uncertainty combined with higher deficits, interest rates, and the continued impact on inflation has been deteriorating real earnings. 

At this point, Jack is not sure where to go next. 

His regular contacts and business groups do not have the time to fully understand HIS business. His investors are losing patience, and/or he is concerned whether this company will be able to provide for his retirement. He wants trusted advice and guidance, but he is not sure where to go now.

Jack, the Avatar

If you are wondering, Jack is the character in my book, Lost at CEO, an Entrepreneur’s Guide to Strategy. Jack is a bit of me, our clients, and business owners that we see everywhere.

I have been Jack. I still have elements of Jack in me today. We work with Jack, every day. 

I have been fortunate to be in executive in seven different companies who have grown from 2x to 7x. At 40 Strategy, I have been hired by Jack to scale dozens of companies. Entrepreneurs and private equity firms, hire me to consult Jack to focus on the biggest value drivers to increase the value of their business.

From a marketing perspective, Jack is our avatar. It’s the type of person that we create significant value for. And if Jack isn’t willing to hire us, his investors will.

Interested to learn more about Jack?

Our new daily $4M Strategies podcast will feature experts to provide you expert tips to grow the value in your business, in just 4 minutes. This will be the best 4 minutes podcast for small to mid-sized business. Stay tuned, the podcast will release, June 2024.

Even if you don’t know Jack, yet. 🙂

#jackislistening  

Measure Success Podcast 

Sheldon Bernard | Mastering Decision-Making in Uncertainty with Sheldon

In this week’s episode of the Measure Success Podcast, we talk about decision-making under uncertainty with 2nd time guest, Sheldon Bernard, founder of 440 Management. Sheldon shares his groundbreaking insights on confronting complex issues with applied decision sciences.

🔍 What to Expect:

• Explore the significance of recognizing and combating cognitive biases.
• Discover Sheldon’s innovative framework for making better decisions in the face of uncertainty.
• Learn why outcomes should not be confused with decision quality.
• Sheldon’s reflections on generative AI and its impact on business strategy.

Branden Cobb | Strategic Marketing for Growth with Branden Cobb

In next week’s episode of the Measure Success Podcast, where host Carl J. Cox sits down with Branden Cobb, a renowned fractional Chief Marketing Officer. This episode is packed with actionable insights and effective strategies tailored for small to medium-sized enterprises (SMEs) aiming to boost profitability and growth.

Key Highlights from This Episode:

• Targeted Marketing Strategies for SMEs: Branden discusses the unique challenges faced by smaller businesses compared to large corporations and shares specific strategies that have led to measurable success.
• Transitioning Marketing Efforts In-House: Learn about the benefits of shifting from outsourced marketing services to building an in-house team, as Branden explains the process and its impact on a company’s bottom line.

Have you heard? We are launching a new Mini-cast series in June called $4M Strategies!

Read more about the $4M Strategies mini-cast here.

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