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Value Creation Blog

The Upside To Quitting and Learn About Passive Income


Why You Might Want To Quit

One of my favorite sites to visit is the Freakanomics site.  In this podcast, they talk about whether it makes sense for you to quit or not.  

This really gets to the heart of behavioral economics where you've put so much effort in you won't quit.  This is called sunk costs bias.  Learn when it's time to say enough is enough.  I bet you'll find it a really interesting episode.

This week on Freakonomics Radio: do you know this bromide? “A winner never quits, and a quitter never wins.”

To which Stephen J. Dubner says, “Are you sure?” Sometimes quitting is strategic, and sometimes it can be your best possible plan.

To find out more, check out the podcast from which this hour was drawn: “The Upside of Quitting.”

The post The Upside of Quitting appeared first on Freakonomics. via The Upside of Quitting

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Topics: operational irrelevance, investing, passive income

3 Steps To Becoming A Passive Owner

systems developmentI believe becoming a passive owner is a sign of maturity in the business owner. A passive owner is where you get out of the way and make yourself absent from the day-to-day operations in your business.

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Topics: operational irrelevance, for business owners, passive ownership

5 Reasons You Need To Be Operationally Irrelevant

Operationally Irrelevant cat resized 600One my favorite terms is operationally irrelevant.  This is the stage in your business where you are completely out of the day-to-day operation of your business.

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Topics: operational irrelevance, enterprise value, Tactical Excellence, passive ownership

Moving From Operational Irrelevance To Ex-Owner

scared business personThe scariest thing that many business owners face is the day they leave their business for good.  While the owner has been going through the process of finding someone to take the business over they often haven’t had time to think about what’s next.

This is especially true for those who have not made themselves operationally irrelevant in their business.  Those who have been intimately involved in the day-to-day operations up to the day they leave have usually not taken the time to ask, much less answer what’s next in their lives.

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Topics: operational irrelevance, business relationship management, business exit planning, passive ownership

Passive Ownership Comes From Business Relationship Management

passive ownershipI think a great deal about what it takes for a business owner to change their relationship to their business.  I believe this is the most important part of moving from an active to a passive owner.  And, for many business owners this is the best way to move towards retirement.

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Topics: operational irrelevance, business relationship management, business exit planning, passive ownership

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