I was at a meeting the other day with some colleagues and one of the seasoned veterans was telling a story of a buyer who was very qualified. The gentleman in question had all the degrees in the world and a resume of successive levels of responsibility that indicated he would be a great business owner.
The story continued and in the end the gent bought a business on a SBA loan (meaning it was pretty big)….here is where it gets fun.
Shortly after taking over the company the company started to slide…apparently the buyer spent all his time building spreadsheets, models, and strategies. He never went in the field or got down in the nitty gritty and executed….in short he couldn’t or wouldn’t “DRIVE THE BUS” .
Frequently this is buyers problems ….they either think themselves to good to do the work or they cant recognize what the work really is that produces profit. It is the difference between armchair quarter backs and those who can get in the trenches, take the snap, and get it done.
If you want to be successful in small business the ability to strategize and plan is important..but Execution is what matters to your customers, your employees, and your pocketbook