This episode is a thought-provoking conversation with Mike Provance, focusing on the challenges and strategies of managing business growth and operational performance, especially pertinent for mid-life business owners. We talk about the complexities that growth stage companies face, emphasizing the need for stability and predictability which often gets overlooked in the early stages of business development. Mike highlights the significance of adaptive planning, echoing Mike Tyson’s famous words about the unpredictability of plans.
We also dig into the nuances of operational debt versus surplus, with a particular focus on the importance of building absorptive capacity in a business. We explore how neglecting long-term goals for short-term gains can lead to significant challenges in business growth.
Among other topics included in this rich conversation, my guest advocates for the synergy of combining the wisdom of seasoned leaders with the energy of younger ones, stressing the tragedy of losing valuable experience through mandatory retirement.
Mike Provance is a dynamic leader in technology commercialization and growth-stage operations, serving as managing partner at Alpine Growth Partners. He specializes in assisting small company founders and lower middle-market firm CEOs in overcoming challenges in operations, innovation, and technology governance to achieve their business performance objectives. His expertise spans strategy, operations management, innovation, data governance, and technology commercialization. Mike’s influence extends across various industries, including financial services, manufacturing, healthcare, and even within the U.S. Department of Defense, contributing to over $200 million in value creation and multiple successful exits for investors.
Holding a Ph.D. in Innovation Strategy and Management from George Washington University, an MBA from Penn State, and a BS in Management Science from MIT, Mike combines impressive academic credentials with a fervent passion for community improvement through entrepreneurship. He has mentored over a thousand individuals in their entrepreneurial journeys and plays a crucial role in the governance of several private companies. Residing in Chapel Hill, NC with his wife Anne, Mike continues to leave a significant mark on the technology innovation landscape.
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