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You Can’t Afford to Think Small
From thebuildnetwork.com. We completely agree with Jack Welch’s opinion about the difficulty in managing a small business. That’s why K&A believes small business owners are the true captains of American industry.
When he speaks about building infrastructure in small companies, one of the aspects we believe he implies is to empower employees and make the owner/founder less vital to the day-to-day operations. Not only can that pave the road to growth, but it significantly increases the value of the business to a potential buyer.
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You Can’t Afford to Think Small
“It’s much harder to run and grow a company with $500,000 in sales than it is to run one with $500 million in sales.
One has got systems and people in place. The other willfail unless it’s staffed as if it were a $500 billion company. My advice to midmarket firms: Over-staff in terms of qualifications. Over-resource in terms of dollars.”
— Jack Welch, longtime CEO of General Electric, speaking at the UCLA Anderson School of Business on why leaders of midmarket companies can’t afford to be timid. Go all in or die worrying, he says.
http://thebuildnetwork.com/leadership/jack-welch-midmarket/
