eCentral Business Show©

Valuable insights from business experts.


Why do companies fail to survive their founder? Don McKenzie

Mon 10:00am 16 Apr 2018
Podcast Audio


The world is changing more and more. Companies are coming up, be successful and disappear far quicker than before. Don discusses on how to be a successful founder by starting off with a throwback. In the 1920's, if you got into the S&P 500 you could survive for about 16 years, but nowadays it's harder. Surviving is difficult; as long as an organization is identifyng the problems and coming up with a solution quickly, they will turn out fine.  Successful founders are really good in doing identifyng the problems and resolving them and identifyng opportunities and capitalising on them. Don says that there are 2 things that we need to check; when the founder leads, sells or transition they take that capability. They institutionalise that ability in to the organisation so it can't keep doing those things after he or she moves forward. And the organisation can no longer make the decisions that are good enough and implement them quick enough. This phenomenon can be called The Founders Trap. Majority of these organisations fall in to this trap and majority never survived the founder. Why? Don cites a personal example; he had a business that didn't survive him at that time and he did not realize that he blamed everything else like the market, and hiring the wrong people. To build a growing business is to pass on the best practices to the succeeding generations who can offer better contributions to the company's lasting growth. Don then explains the ideal sequence in order to ensure the survival of the company; to identify problems and get around it quickly, and to look for opportunities and capitalise on them wisely. If you are a founder of a business or a family controlling businesses always ask yourself if you are insitutionalising and investing in the things that are going to help your business grow. To answer yes is prudence, if your answer is on the negative, then this is a problem. Always keep in mind indentify the problems and resolving it. Identify opportunities and capitalise on them. Remeber the right sequence. A lot of growing companies need consultants but first they need the capability and capacity to execute on what the consultants will going to tell them. These principles are founded on years of competent experience. If you want to experience the same growth in your business, consider checking out Don's website at adizes.com where you can find helpful material that would help you and your organisation make wiser choices.

Don McKenzie, Adizes

Meet our resident experts

Robert King

Robert King

Accountant

Robert is a fully qualified Chartered Accountant, Registered Tax Agent & Xero Guru. He spends his time helping clients through all stages of the business cycle from setting up a business through to its eventual sale.

Laura Sillano

Laura Sillano

Mortgage Lending

Laura is a Residential Mortgage Broker with over 11 years experience. She is passionate about educating her clients about their options, and provides mortgage lending advice that is grounded by life experience.

Helen Baker

Helen Baker

Financial Planning

Helen Baker, founder of On Your Own Two Feet, is an experienced financial adviser and firmly believes in the benefits of having a strong team of professionals to underpin your financial foundations.



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