If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel?
As anyone who has tried to fly United when O’Hare has been hit by a snowstorm knows, a hub-and-spoke model is only as strong as the hub. The moment the hub is overwhelmed, the entire system fails. Buyers generally avoid hub-and-spoke managed businesses because they understand the dangers of buying a company too dependent on the owner.
Here is a list of nine warning signs you’re a hub-and-spoke owner and some suggestions for pulling yourself out of the middle of your business.
– Dane DeSantis, Owner, Hallmark Business Brokers
Contact Biz Tip contributor, Dane DeSantis