Friday, March 15, 2024

An Exit Plan is Critical


Do you have a succession plan in place for your business?

Have you been putting off planning for later in life, instead focusing on the here and now?

"A 2022 MassMutual study indicates that only 8 percent of business owners have a completed the process of developing written succession plan. Equally troubling is the fact that about one in four successors, those that the owner has targeted to take over his or her company, do not know that they are in the succession plan."

Many business owners don’t think about an exit strategy until they feel ready to move on. At that point, they may have already missed opportunities to get more value out of their company.

It’s critical to plan for both expected and unexpected exits:

Expected – goals with retirement or selling in mind


A planned exit can be a long-term process or a quick deal. Maybe you’ll plan to sell in ten years, or outline the steps needed if you receive an offer before then. Either way, the closer you get to the end, the harder it can be to see the best way out. Failing to plan may mean you have less control over the outcome and achieve less than optimal results.

Unexpected – we can’t schedule the unexpected, but we can prepare for it


Few business owners would have predicted a pandemic in 2020. But savvy business owners may have planned for contingencies such as supply line interruptions or workforce shortages. Pandemics, natural disasters, rent or location events, or the unexpected loss of life – these are things we don’t want to think about. But if you don’t think about them, and the unthinkable happens, how will your business hold up?

Read more succession planning tips on our website!

Not sure where to start with business transition planning?

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company.

It all starts with a single, free conversation. For help with business transition planning in Ann Arbor, Call 734-726-5208 today for a free coaching session or contact David through the website. In today’s world, you need to be ready for anything.


Friday, March 1, 2024

How do You Benefit from a Carefully Planned Exit Strategy?


Have you spent time on the most critical part of business development? Writing a strategic plan means committing your business values, mission, goals, plans, and vision to paper – documenting your guiding principles.

Planning minimizes the element of surprise:

  • Planned exits have better results than unexpected exits
  • You’re better able to meet unexpected problems head-on (health or family, for example), without added stress
  • You’ll have steps in place in case of unexpected offers
  • You’ll be able to liquidate faster, if needed
  • You’ll be ready for retirement, personal time off, or if you’re simply ready to move on

Including an exit strategy when you write your strategic plan ensures you’ve taken the right steps toward success, less left to chance, and are prepared to make informed, rational decisions. You won’t be rushed and won’t be as likely to make decisions based on emotions, or under stress. 

Read more about business transition planning on our website.

Not sure where to start with business transition planning?

David is an accomplished and experienced business professional who brings over 40 years of insight to the table. As a business coach, he specializes in helping business owners prioritize their business needs, identify areas of improvement to support those needs, and lead their business to its greatest potential. He can help you plan for the future of your company.

It all starts with a single, free conversation. For help with business transition planning in Ann Arbor, Call 734-726-5208 today for a free coaching session or contact David through the website. In today’s world, you need to be ready for anything.


Thursday, February 15, 2024

What a Good Business Coach Is, and Isn't

business success coach
Do you know what a good business coach is, and what a good business coach isn't?

With a business consultant, you are paying an expert to provide a solution for the problem you have. You are paying for a set of skills and a solution they recommend for your situation, but you may not be addressing more fundamental problems.

Once a consultant has made their recommendation, you’re often left to your own devices to run with their solution. In contrast, a coach will continue working with you consistently over time to ensure that whatever plan is put into action is successful. Your investment of time, energy and effort are the most important ones you will make with a great business success coach. Your coach will help you consider adjustments and refinements that can greatly impact success.

A Real Story from an Ann Arbor Business Owner

So, what does a successful business coaching relationship really look like?

Here’s what a former AdviCoach client had to say. He was a local business owner in the Ann Arbor and Dexter area and was looking for some help with an established but struggling business:

“From the very first meeting, David acted like a partner in my business. He asked probing questions about my business, receiving my answers without judgment, and demonstrated a true desire to understand how my business was operating. He was prepared and engaged for every coaching session. He made sure we made progress each week, driving the process both during our meetings and afterwards with email correspondence and follow up phone calls as required.”

During this process, the meetings were streamlined by using prepared forms that have been refined through the years. Nothing in the business coaching process is ever “pre-fabricated,” but using these resources allows the coach and client to quickly get on the same page and begin tailoring strategies to the business.

After six months of cooperation, a custom strategic plan to achieve the client’s goals had been drafted. He was left with the tools he needed to monitor his business beyond the coaching relationship. At the end, he knew what his goals were, how to achieve them, and what to do when he encountered obstacles in the future.

Read more on our website!

Business Success Coaching to Transform Your Pathway to Great Success

In the day-to-day operation of a small business, it’s easy to become shortsighted. You begin to take for granted that the way things are is the way they have to be, or always will be.
It often takes an experienced outsider to remind us that we really can change things for the better.

David Waymann has helped many people in Ann Arbor and southeast Michigan with business success coaching and can help you too. If you’re not happy with how your business is doing, coaching can be a great option.

Call 734-726-5208 to find out more and set up your free business review!

Thursday, February 1, 2024

What Can Business Success Coaching in Ann Arbor Do for You?

business success coaching ann arbor
Are you a business owner in Ann Arbor or southeast Michigan?

Have you wondered if you should hire a business coach to help your business reach the next level of success?

Many business owners could benefit from coaching, but might only know about consultants, are embarrassed to ask for help, or  don’t know what their options are.

So, let’s go over what business coaching really is, what it isn’t, and what a real story of successful business coaching looks like!

What Business Coaching Is

Business coaching is fundamentally about developing you, the owner of your business. In many ways, it’s like earning a master’s degree in running your specific business. A coach will help you move out of your comfort zone.

Of course, this can take on many forms based on your situation, but the end goal is always to transform you into a more successful owner who has the skills needed to meet any challenge in the future.

This often involves digging into some deeper questions—what’s working or not working? What’s holding you back? What support do you have, and what do you need to achieve to consider yourself successful?

A great business coach works with you on exposing the gaps that lie between where your business is and where you’d like it to be. Once the foundation is laid, we’ll start implementing lasting, transformative change.

Business coaching isn’t about quick fixes or cookie-cutter solutions. It takes a willingness to answer these hard questions, and the drive to change them.

What Business Coaching Isn’t

With a business consultant, you are paying an expert to provide a solution for the problem you have. You are paying for a set of skills and a solution they recommend for your situation, but you may not be addressing more fundamental problems.

Once a consultant has made their recommendation, you’re often left to your own devices to run with their solution. In contrast, a coach will continue working with you consistently over time to ensure that whatever plan is put into action is successful. Your investment of time, energy and effort are the most important ones you will make with a great business success coach. Your coach will help you consider adjustments and refinements that can greatly impact success.

Read more on our website!

Business Success Coaching to Transform Your Pathway to Great Success

In the day-to-day operation of a small business, it’s easy to become shortsighted. You begin to take for granted that the way things are is the way they have to be, or always will be.

It often takes an experienced outsider to remind us that we really can change things for the better.

David Waymann has helped many people in Ann Arbor and southeast Michigan with business success coaching and can help you too. If you’re not happy with how your business is doing, coaching can be a great option.

Call 734-726-5208 to find out more and set up your free business review!

Tuesday, August 31, 2021

What Does a Post-Pandemic Work-Life Balance Look Like?



Wondering what you can offer to help your team thrive in 2021 … and beyond?

We didn’t expect the pandemic, and we certainly didn’t expect how it would change American business. Technology has become the backbone of business, as millions of Americans moved to a work-from-home model and proved the old-fashioned, 9-5 office model nearly obsolete. With work and home no longer separated by space and time, business is primed for change.

As a result, the work/life and employer/employee balance changed, almost overnight.

Pre-pandemic, it wasn’t uncommon for businesses to consider incentives like casual Fridays and company-provided snacks to boost employee motivation and engagement. The more progressive businesses may have offered perks like onsite gyms, daycare, and wellness programs. The missing link is that they are largely devoted to improving wellbeing while in the workplace. A true work/life balance supports life outside the workplace.  

How do we create a win-win that balances employer with employee needs, wants, and interests?

Visit my website to learn more!


Thursday, August 19, 2021

How Has the Pandemic Affected Employee Motivation?



The pandemic changed American business – maybe forever. The carrot-on-a-stick model of motivating employees is no longer apt. It has lost its luster against the backdrop of a life-changing health crisis like a pandemic. 

How many essential workers put their company’s bottom line above health and safety? How many made alternate living arrangements so they could provide for their families and serve the public while protecting those they lived with and loved?

How many walked away? 

The ever present “help wanted” signs and reports of staffing shortages tell the story. It’s become common to see signs posted outside businesses offering sign-on bonuses and college tuition reimbursement. Unfortunately, it’s becoming all too common to experience shortened hours of service and unexpected closings due to staffing shortages.

So, what does motivate employees now?

To learn more or to schedule an appointment to have a conversation about the “new normal” in business, visit my website!


Monday, July 19, 2021

A Business Transition Plan Makes Moving On Easier



Leaving your company for the next phase in your life may feel more difficult than you anticipate, especially if you’re selling the company. Make your exit plans early to ease your own transition when the end is in sight. Think about the kind of exit you want to make. Which way will you go? What will you choose to do next?

After all, you put a lot of yourself into building your company. Plan your transition to the next phase of your life with equal care and thought.

David can help you develop a business transition plan that ensures a smooth transition while looking out for your financial future.

For more information, visit our website!