Beyond 8 Figures Business Purpose For Growth And Impact with Chris Younger, Class VI Partners
Running a business is not just about making money; it’s also about creating long-term value for your customers. That’s why it’s critical to focus on your business purpose and be deliberate about your growth. In today’s episode, Chris Younger explains why it’s never too early to start planning for exit, how to use your WHY to build a scalable company and the importance of finding the right talent.
About Chris Younger:
Chris is the CEO and Co-Founder of Class VI Partners, a company that provides investment banking and financial advisory services to middle-market businesses and entrepreneurs. He founded the company with a grounding mission to empower and celebrate entrepreneurs he believes are essential to our communities. With over 25 years of growing, acquiring, and selling businesses, Chris brings a wealth of expertise and understands the rocky entrepreneur’s journey well. He is passionate about helping business owners match their personal goals to their business planning and build a business that serves them.
He also co-authored "Harvest: The Definitive Guide to Selling Your Company", a step-by-step resource he crafted with David C. Tolson. This book offers crucial insights for business owners to achieve maximum value and create effective exit strategies, highlighting the immense rewards of thoughtful business planning.
For a comprehensive book review, check out this page.
Episode highlights:
- Team building is one of the most important investments that a business can make. Not only does building a team help you scale faster, but it also improves your life as an entrepreneur as it allows you to focus on your area of expertise and maintain a more healthy work-life balance. (02:02)
- Identifying talent gaps in your organization is critical to the success of your business because when you do it, you’ll able to bring the right people on board and match them to the right roles. Having the right operating talent by your side is the recipe for success in driving the business forward and making sure it runs smoothly. (04:25)
- Running a business is not just about making money; it’s about creating long-term value for your customers. That’s why it’s critical to focus on your WHY and the deeper purpose behind your business while you scale it. (10:32)
- It’s never too early to start planning your business exit. Being intentional and deliberate about your business from the start is an effective growth strategy that will help you build a healthy business with a clear purpose. (14:38)
- For some business owners, selling a business is not the best idea. There could still be enormous growth and profitability potential in their company, so in those cases, it might be a better idea not to sell and instead continue building wealth within the business. (26:21)
- Artificial intelligence is transforming every industry. That’s why businesses need to learn to use it to their benefit instead of turning a blind eye. Depending on the nature of your business, AI can be a practical and cost-effective tool for improving efficiencies, saving significant costs, and speeding up operations. (31:05)
Chris’ best advice for entrepreneurs:
“I think most entrepreneurs will recognize and appreciate that if you're just doing it for the money, that makes it really difficult to get through some of the really stressful periods that every business owner goes through. Every business has a near-death experience. And if you don't have something deeper that's driving you, it's really difficult to get through those times.” (10:32)
Connect with Chris:
- Email Chris at chris@classvipartners.com
Resources Mentioned:
- Harvest: The Definitive Guide to Selling Your Company by Chris Younger & David Tolson
- Start with Why by Simon Sinek
- The WHY Project
- Class VI Partners
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