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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Finish Big summary
Bo Burlingham
How Great Entrepreneurs Exit Their Companies on Top
12 mins
Brief summary
'Finish Big' by Bo Burlingham is a business book that explores the art of leaving one's company on a high note. It provides practical advice on how to transition out of leadership and leave a lasting legacy.
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Finish Big
Summary of 6 key ideas
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Key idea 1 of 6
Your exit requires preparation. Think about your future and your company’s future without you.
In business, if you ever start to think you're invincible, stop. All companies close and every company owner has to make an exit eventually.
When it comes time to leave, you need to think about your own future just as much as the future of your organization. You have to ask yourself questions, like “Who do I want to be?” and “What do I want out of life?”
The answers to these questions will help you figure out your next step.
It's essential to plan for your own future. Don’t be like the business owner who didn’t anticipate a financial shortfall and was forced to sell his company quickly. The fallout from this mess resulted in the owner dealing with a failed marriage and the loss of close colleagues, too. If the owner instead had planned ahead early, he might have avoided such an unhappy ending.
A good exit strategy isn't just important for you but it’s vital to your company as well. Try to imagine your business functioning after you leave. You'll probably discover some trouble spots where process or organization might suffer without your influence. Once you fix these problems, you'll actually raise your company's market value!
So think carefully about your company's financial state and its long-term goals. You'll eventually start to view your company as a product itself.
Ray Pagano, for example, was able to make a successful exit from his security camera business. He started preparing to leave some two full years before he wanted to retire. In that time, he reviewed company operations with his employees and formulated specific goals for each department, all the while planning for his own future, too.
When it came time for Pagano to sell the company, he felt liberated. He devoted himself to his sailboat and was still welcomed back to his old offices whenever he wanted to visit.
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What is Finish Big about?
Finish Big (2014) is a guide for how to exit an organization in a way that's healthy and positive for both a business owner and the company. Leaders often overlook this aspect of their career, mistakenly thinking that leaving will be simple, when instead it requires long-term planning to truly finish in a way that benefits everyone.
Finish Big Review
Finish Big (2014) by Bo Burlingham is an insightful guide that explores the challenges and opportunities of exiting your business. Here's why this book is worth a read:
- It offers practical advice and real-life stories to help entrepreneurs navigate the complexities of selling or passing on their business, ensuring a successful transition.
- Combining expert insights, case studies, and useful tips, the book provides a comprehensive roadmap to help business owners prepare for and maximize the value of their exit.
- With its engaging storytelling and candid interviews, the book keeps readers hooked, ensuring that the journey of Exit Planning is anything but boring.
Best quote from Finish Big
Nothing will have a greater impact on your business than having a deep knowledge of yourself.
—Bo Burlingham
Who should read Finish Big?
- Entrepreneurs or anyone interested in business strategy
- CEOs or leaders looking to leave their organization soon
- Anyone interested in the politics and philosophies of exit strategies
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Book summaries like Finish Big
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Finish Big FAQs
What is the main message of Finish Big?
The main message of Finish Big is the importance of planning and preparing for a successful exit from a business.
How long does it take to read Finish Big?
The reading time for Finish Big varies depending on the reader's speed. However, the Blinkist summary can be read in just 15 minutes.
Is Finish Big a good book? Is it worth reading?
Finish Big is a valuable read for any business owner. It provides practical advice and insights for achieving a successful exit strategy.
Who is the author of Finish Big?
The author of Finish Big is Bo Burlingham.
What to read after Finish Big?
If you're wondering what to read next after Finish Big, here are some recommendations we suggest:
- Sales Management. Simplified. by Mike Weinberg
- The 5 AM Club by Robin Sharma
- Making Work Human by Eric Mosley and Derek Irvine
- Profit First by Mike Michalowicz
- Good Inside by Becky Kennedy
- Outliers by Malcolm Gladwell
- Magic Words by Tim David
- Outlive by Peter Attia
- Cracked it! by Bernard Garrette
- How to Talk to Anyone by Leil Lowndes