Leila Wilcox and how to build value into a business

This week we had our Mission Growth Speaker Event featuring Leila Wilcox, founder of Halos n Horns and soon to be launched Angelis Insurance.

     

She told us that her interest is to build value early in the business journey so that she can exit and enable others to grow the business in the longer term and therefore the importance of creating strong foundations for future growth.

We then had table discussions to debate what the issues that faced growing businesses were and how they should be addressed. This was a lively debate with the top issues being:

1. Letting go – If you’ve got someone doing a job 60% as good as you then you have got a great employee.
2. Inspiration and vision – create the long term vision for your business and get your employees to buy into it
3. Delegation  - if you don’t delegate you spread yourself too thin – so do what you do well and leave the other jobs to other people
4. Cash Flow – Cash is king so plan, plan, plan and keep an eye on the numbers
5. Flexibility – make sure you maintain the edge within your sector by being able to adapt to changing trends
6. Put in place contingency plans for when things might not go according to plan
7. Time management – making sure you keep healthy in order to be able to run your business

All in all a good evening and I was pleased to hear that most business owners face the same issues!