From Family Priorities to Profitable Exit: Building a Business That Pays Off - Michèle Hecken

2024-11-11

Is your business too dependent on you? Far too many companies are lifestyle businesses that would fall apart without the owner. This can jeopardise your exit, so detaching yourself from working in the business is essential. In this episode I am joined by Michèle Hecken, who built, operated, scaled, and exited a successful business in the translation industry. After completing a high-7-figure exit she now serves as an Advisor to high performers wanting to run businesses that serve them and live lives they dream of. She shares how she scal...

Is your business too dependent on you?

Far too many companies are lifestyle businesses that would fall apart without the owner.

This can jeopardise your exit, so detaching yourself from working in the business is essential.

In this episode I am joined by Michèle Hecken, who built, operated, scaled, and exited a successful business in the translation industry. After completing a high-7-figure exit she now serves as an Advisor to high performers wanting to run businesses that serve them and live lives they dream of.

She shares how she scaled and exited her translation company, learning the art of off-boarding as she went. She also gives strategies you can use to create a business that can operate independently of you.

Off-boarding tasks and jobs can maximise the value of your exits.

So, let’s hear from Michèle!

"The art of off-boarding is a game changer" - Michèle Hecken

Timestamps

01:29 - An introduction to Michèle Hecken

03:20 - Working on the business not in it

05:26 - How Julie stopped working in her business

10:23 - Julie's story developing her business

12:47 - The steps Michèle took to step back in her business

18:33 - The problems with service-based businesses

26:11 - Focusing on governance and controls

33:59 - The power of the finance team