In this episode, Tricia and LZ welcome Casey Graham, co-founder and CEO of Gravy, an organization that helps businesses collect unpaid recurring payments. Before launching Gravy, Casey founded The Rocket Company where he helped church leaders scale their financial leadership and fundraising opportunities.
Not only has Casey launched three businesses, but he’s authentic and passionate about helping business owners. He understands what makes a business successful and what can lead to its failures. Today, Casey is going to help us recognize how unsatisfied owners create unfocused and unmotivated leaders, and what to do about it.
1. Plan to retire to something, not from something.
Most entrepreneurs feel a sense of emptiness and lack of purpose when they sell or leave their company without a plan. They end up floating through life, maybe with plenty of money, but without any feeling of a goal they are working toward. Make sure you have a plan for after your retirement so you won’t encounter that feeling so many former business owners face.
2. Clarity is currency.
When you’re honest with your team about your intentions as an owner, they will become more involved, invested, and passionate about what you’re doing. If you don’t have that currency in the bank with them, it’s difficult for them to get on board with your journey. So whether your intention is to pass along the business to your kids or just make money and party, be clear. There is no judgment. Your intention is your intention!
3. When you sell your company, be weary of losing purpose, structure of time, and community.
There’s nothing wrong with selling, but you have to be intentional about what life looks like afterwards. You don’t have the daily meetings and the shared sense of purpose with your team any more. You won’t have that built in daily structure…all the freedom! And you won’t have all the people around you that helped you get to where you are. Just be aware of these three potential pitfalls when you step out to sell and plan for how to navigate through them.
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