In this episode Mark interviews Stephen Wallace, a former engineering firm owner turned consultant, who shares his journey from building a successful business to selling it unexpectedly. Stephen discusses the importance of making a business “shiny”—operating as if it were always ready for sale—even if there are no plans to sell. Through his experience, he emphasizes how strategic planning, well-defined organizational structures, and detailed job descriptions lead to higher performance, efficiency, and ultimately a more attractive company, whether for clients, employees, or potential buyers. Stephen’s insights offer valuable lessons for business owners looking to improve their operations and boost long-term success.

2:00 Why did Stephen Wallace create a “Shiny” business?

6:10 What is a strat plan? How does it help create a higher performing business?

7:50 Taking a step back and becoming coordinated

10:20 What is a shiny business?

14:30 Why think through a ‘selling’ exit from your business?

16:00 The greatest benefit to preparing a business for sale

18:20 The value of great job descriptions

21:00 The end result of investing in strategy

25:25 Getting a higher multiple than expected (you’ve gotta do the work!)

29:20 How Stephen helps other businesses

We can help develop your Strategic Planning process to improve your organization’s performance and achieve long-term success. Contact us today or markf@concordconsulting.com.

Guest information:

Stephen’s email: stephen.wallace64@gmail.com