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Recently, I spoke with a New York CEO, Gail, who admitted that she lost her passion for her business. Gail wasn’t that interested in the product anymore, did not love selling although she was good at it, and she wasn’t excited about growing her team for the sake of growing her team. We talked some more and I asked Gail how she spent her day and what areas she excelled in.
That’s when her face lit up – Gail spoke about solving the hardest problems the company faced. “If a client is unhappy or finance is having trouble with where we stand for the month, my employees know to bring me in and I get the job done.” We both agreed that what she was passionate about and what motivated her was dealing with the most difficult issues in her company, and solving them.
So how to renew Gail’s passion in her company in a valuable way? She gave herself the ultimate problem that had the highest personal reward – Gail has given herself three years to make her firm worth 10 times more than what it would be worth if she sold it today.
I call that Order of Magnitude thinking and Gail calls it getting back her passion.
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Jeff Silbert is the managing director and founder of Order of Magnitude Group, an advisory firm for ambitious CEOs and owners seeking to obtain game-changing valuation growth for their business. Order of Magnitude Group generally works with a select group of clients located between New York City and Philadelphia. More information is available at www.oomgroup.com
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