Level Three:

Owning a Business that Gives You Freedom and Control

Focus: To determine your desired exit strategy and clarify your personal role

Characteristics of a Typical Level Three Business:

  • The business is run by a competent and winning management team independent of the owner (who may still fill one of the roles, but who has a replacement groomed and ready to step in).

  • The business runs smoothly whether the owner is there or not over an extended period of time (based on sound systems, intelligent controls, and scalable solutions).

  • Its clients look to the business, not the owner, to fulfill promises.

Level Three Case Study: Jeff Hoffman

Former Maui Advisor Jeff Hoffman's first successful exit - a multimillion sale of his business! Jeff went on to help launch Priceline.com and take it public.

After college, Jeff worked for a few years in corporate America. One day, his manager sat him down and told him he'd never be successful in business because he was impatient, lacked focus, and didn't follow the rules. This weighed heavily on Jeff, coming as it did from an authority figure - until months later, he had lunch with his mentor who had built several successful companies. This mentor said he knew Jeff would be a success because he had the natural drive to get things done now, the ability to multi - task, and a willingness to blaze new trails. Same Jeff, different perspective. Luckily, Jeff chose to listen to his multimillionaire mentor instead of his mid-level manager at work!

Knowing he wouldn't be satisfied working in corporate America, Jeff started his first software company, CTI, and grew it into a thriving innovator in the travel industry. He strategically positioned the company to be bought out by one of the industry's major players, which is exactly what happened. American Express acquired CTI for more than $10 million!

Since that time, Jeff has gone on to build and later sell other successful companies, including being a founding team member and former CEO of Priceline.com.

Resources For Level Three Business Owners:

Online Workshops:

Home Study Courses:

Web Links:

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