Larry returns to Exit This Way to delve in deeper on two of those axioms as they specifically relate to owners thinking of or preparing for their own exit. We start the discussion around Axiom #2, Differentiation. Larry is very direct pointing out that few companies do this effectively. And it’s simply because of a lack of a certain type of performance data. It’s this data every business owner needs to better answer why a target customer should buy from them. Larry emphasizes that with data comes trust, but not all data you need is quantifiable. He went on to clarify that a company’s value proposition is made up of all the touch pints between the customer and your company.
To enhance your company’s value proposition, Larry suggests that any company can do secondary research on competitors to learn new ideas.
The second Axiom Larry explores more deeply for listeners of Exit This Way is Axiom #7, Fear of Change. He ties change to employee empowerment as the best way to achieve sustainable change. He’s emphatic that change must start at the top with the President/Owner, that rank cannot have its privilege or indeed the owner will sabotage the organization’s ability to change.
People inherently do not trust change. Change and insecurity are intimately intertwined. This gets even more complex when owners are trying the make changes to enhance valuation towards their exit.
Lawrence A. Girouard also highlighted that Command and Control is old school. Instead, much of the pressure to change can be mitigated if employees are empowered to make incremental changes and by measuring performance along the way. He explained that owners who stay in command and must have control become the Achilles Heel of a successful sale/succession plan.
Mr. Girouard has had over 45 years of engineering, sales/marketing and senior management experience in Fortune 500 corporations (DuPont, Keene, Cookson), high technology start-up companies (Spectrum Technologies, Composite Development Corp), and Government funded programs where he was the first Executive Director of both the Rhode Island NASA Technology Transfer Center (RITTC) and the Rhode Island Manufacturing Extension Services Corp (RIMES).
He is a frequent guest lecturer at local colleges and trade association meetings speaking on the subject corporate growth, strategic planning, corporate culture and marketing/sales issues. He is currently the President of The Business Avionix Company, a consulting company that focuses on helping companies drive profits while implementing focused market penetration programs and improving customer satisfaction. He has worked with many clients on nurturing them through the cultural transformations necessary to position these clients for real growth. Mr. Girouard has a BS Mechanical Engineering Degree and an MBA in Marketing.