Hub & Spoke
Hub and Spoke is one of the value drivers that we analyze when engaging a business owner who’s thinking about selling in the next few years. This area of focus is one of the top elements that pique owners interest and it’s a topic that really doesn’t need to be much explanation, but the owner is the hub and all the departments and employees need to go to you for answers and decisions. 95% of the owners know this is holding back the company value but don’t know how to fix it! This truly is a management element that requires the assistance of a coach or trusted business advisor. It’s a rare thing to find an owner that knows how to change this on their own successfully. Why?
Too many blind spots in management or HR
Ego. No one can run as well as I can.
Simply lack the courage to change
Not enough time (duh. You’re having to keep all your fingers in the pots. Can you say, “Major valuation discounts”?)
Lack the tools to implement.
The list above could go on as long as your arm, but whatever your excuse, just understand that you’re robbing yourself of several thousands of dollars by not addressing the Hub & Spoke model in your business.
As I’ve stated in other blogs, whether you get help from us at HPX advisors or elsewhere, get the necessary help you need to fix the above now. Don’t wait until there’s a health or family event that forces you to review your business model. If you put this off, it’ll eventually be too late and you’ll have flushed a significant amount of money down the drain.
Call or email today to discuss how we can help you.