I am the Visionary on our Accountability Chart and want to exit completely in four years, but I currently generate most of our strategic IP and new product concepts. How do we transition this unique creative output so the buyer does not see me as irreplaceable?

Question

Tyler Smith · Accepted Answer

As a Visionary, your creative spark is a double-edged sword. While it got the business to where it is today, a buyer will see your ongoing role in generating intellectual property as a major vulnerability. You must spend your four-year runway turning your creative habits into an institutional process.

Start by evaluating your Accountability Chart. You cannot simply hand your creative duties to an unwilling manager. You must identify or hire someone who has the capacity and desire to step into a product development or R and D seat. They must GWC™ this role completely.

Once you have the right person in the seat, you must systemize your creative process. Do not let your ideas exist only in your head. Create a formal product development pipeline, complete with standardized steps for research, testing, and launch. This pipeline must be run by your team during their weekly Level 10 Meetings™. Your role must shift from being the sole creator to being an advisor who reviews and refines the team's concepts.

Over your runway, you must prove to buyers that the team is capable of launching new products without your direct involvement. Document these successful launches on your V/TO® under your history of achievements. When a buyer sees that your business has a repeatable, documented system for innovation that does not rely on your personal genius, they will pay a premium for your company rather than discounting the price due to your departure.