Chapter 6. Compelling Equity

The Man Who Taught an Old Dog New Tricks

Put yourself in the place of someone who has just been appointed CEO of a long-established, low-tech firm with a dominant share of a very low-growth market. Your potential customers fervently hope they will never need what you sell. If they do, they are “high-maintenance” clients who delay your agents, bombard them with questions, and snoop around their work. They have to be serviced on location, but they tend to be unavailable when you need them during normal working hours, and their addresses are often difficult to find. They are hard negotiators, always looking for special deals. Your new business? An 80-year-old residential pest-control company—about as unlikely a candidate ...

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