Acquiring a Business – How to Deal with The Fear and Get Employees On Board Fast - Alex Vorobieff
In this episode of Confident ROi, Alex Vorobieff discusses his plans to transition from consulting work and go “hands on” by taking what he has learned through years of helping other business owners by acquiring one himself.
Using his vast experience and knowledge of business tools he is going to buy a business for the purposes implementing everything he knows and growing it as the owner himself.
He talks about the importance of due diligence, and how it’s usually the ones that initially look like winners that turn out to be losers.
Finally, we also take a look at why feedback is crucial, why connecting with employees on an emotional level is critical and how business tools can help focus a company on the bigger objectives.
Acquiring a business – why now? – 0:40
Why the winners usually turn out to be losers – 3:23
Why business owners need a good relationship with feedback – 7:20
Do owners find it hard to “detach” themselves? – 11:14
Dealing with the fear of taking on a business – 12:29
The rise and rise of the “portfolio” career – 15:31
Why Vision Traction Organizer helps everyone to see the bigger picture – 21:12
How to get employees to “buy in” with the new business owner – 28:51
How using “open book” management was able to turn around International Harvester – 30:22
Turning your company into a team sport – 32:26
How learning Latin transformed the fortunes of an inner city school – 37:07
Why Emotional Compensation is key – 41:39
Humans are wired to connect via shared stories – 44:20
Alex’s predictions for the acquisition – 46:00