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What you need to do to transform your business | Issue #224

Six things you need to do to ensure business transformations succeed

You’ve invested time, money and effort into a significant business transformation. Getting to this point has taken dedication from the whole team and a relentless drive to change. And it’s looking hopeful you’re going to succeed. The danger here is to assume that the hard work is done. It isn’t. It’s only just beginning.

McKinsey surveyed a variety of organisations as part of their global research. It compared businesses that had seen long-term success from their transformations with others that had stayed the same. They looked at the processes inside the businesses that had changed substantially. It’s heartening to see many of the things we suggest to clients included in the McKinsey research. We’re focusing on the right places.

So what is it that separates successful transformations from the rest? What do you need to do to reap the benefits of your hard work? Based on our experience and McKinsey’s research, you need to narrow it down to the following.

The Secrets Behind Building Value-Based Businesses with Patrick E. Donohue

This week, expert in valuation, business angel, and financial advisor for entrepreneurs Patrick E. Donohue, joins us on a new episode of The Melting Pot. He started his adventure at a very young age when he showed interest in stock shares and making money when he was ten years old. His passion lies in helping small businesses grow in a way that generates value and has a lasting impact on the community. He firmly believes that business owners shape the world by providing solutions to the complexities of human life. 

His book Breakout Valuation breaks down complex financial concepts and shares them in plain English. His aim is for every leader to be able to understand financial intelligence and apply it in actionable plans to drive sustainable growth.

Download and listen today!

Disrupt Yourself Podcast with Whitney Johnson

Best-selling author Whitney Johnson (“Disrupt Yourself”) explores her passion for personal disruption through engaging conversations with disruptors. Each episode of this podcast reveals new insights about how we work, learn, and live.

What Football Clubs Can Teach Us About Hiring Top Talents

This research shows the value in onboarding and current performance in hiring talent for your club. High-performing teams get more from the new talent, ad if onboarding isn’t great, it can significantly impact your investment during the season versus preseason. Fascinating!

More Proof That Money Can Buy Happiness (or a Life with Less Stress)

When we wonder whether money can buy happiness, we may consider the luxuries it provides, like expensive dinners and lavish vacations. But cash is key in another important way: It helps people avoid many of the day-to-day hassles that cause stress, new research shows.

Rituals at Work: Teams That Play Together Stay Together

Rituals are a key element –and often missing piece– of the culture canvas work we do with clients. They don’t need to be big or expensive, but they need to be observed. And I love the Walmart Cheer.

Breakout Valuation by Patrick E. Donohue

With trillions of dollars at stake, those who own and control investment capital profit handsomely by severely undervaluing privately held businesses. Lenders lure you with teaser rates. Investment partnerships dazzle you with fancy marketing materials. These are the tools of their trade, helping them earn excess returns on your hard work. Breakout Valuation provides entrepreneurs with the insider knowledge they need to build what matters-a valuable business.  Written by an author who shares your entrepreneurial journey and has spent three decades investing, analyzing, and advising billions of dollars of transactions, Breakout Valuation tells you everything you need to know to finance your future today. You can finance growth and stick to your moral compass while avoiding the tricks of the hucksters who want to take outsized returns on your hard work and innovation. You hold in your hands the knowledge to achieve a Breakout Valuation! 

Upcoming events

Create a Culture of Coaching – Gallup Webinar

Join Gallup’s webinar to learn how you can build a culture of strengths-based coaching — one that truly transforms your organization and drives companywide engagement, productivity and performance.

17th January – 1 PM (GMT)

Quote of the week

“Business has only two functions — marketing and innovation.”

Peter F. Drucker

Dominic Monkhouse

Dominic offers business coaching and management development, strategy planning and organisational change, using tried and tested methods to launch your organisation onto an unparalleled growth trajectory. His programme is a function of his broad experience, his deep expertise and a proven process used by over 2,700 firms worldwide.

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