Why I nearly sold my business and why I changed my mind

I didn’t have an ordinary trajectory into leadership. I was the leading sales agent in the family business, until the sudden passing of my father. Even after fighting to be put on as CEO (because I saw the potential in the business), there was no succession plan or handover. 

A few days later, he finally let me see the financials and I saw that we had six weeks of cash left and we were millions of dollars in debt. I had no idea. He passed away two days later. 

Everyone told me to cut my losses and sell. The lawyers and accountants advised me to close it and start my own thing. I nearly did. But I had an instinct that I needed to give it a try. I wanted to protect the legacy of the family business. I was also aware that this might be my only shot at business. 

At this stage in my career, I was a successful salesperson, so I knew how to bring revenue in, and fast. This was my edge. 

The shift from prospecting, running listing presentations, handling negotiations, and selling properties, to leading a team while keeping the business afloat was no easy feat. Any owner knows the challenge of balancing working on the business vs. in it. As a key sales agent, I had to continue bringing money in the door while fulfilling CEO responsibilities. 

I had a few things working in my favour. 

The unconventional CEO

1. Sales kept me close to clients and the community. I didn’t step into a real estate director role from another industry. I started at the bottom and developed my own sales style which has built on long-term relationships. 

2. I had an established network. People already knew who I was when I took over as CEO. I knew what my clients, team and community needed – and when I didn’t know, I could ask. Because I was a salesperson, a homeowner, and a community member myself, I knew the pain points and saw the potential for change. 

3. I knew how to generate cashflow. When I took over the business, it was in financial disarray – we had six weeks of cash until we’d have to close. Because my primary role was a sales agent, I had the skills to increase our cashflow. If I didn’t have that experience Nitschke probably wouldn’t exist today. I can also better support our sales team because I continue to sell myself. 

4. It made me humble. Because I couldn’t draw on previous leadership or management experience, I had to lean into my vulnerability. I was forced to drop all ego and ask for help. The journey wasn’t about me. It was about the business and everyone who wanted it to succeed. This has helped define a strong culture, a resilient team, and a collective confidence that we maintain today. 

5. It inspired a culture of performance. In sales, I was used to KPIs, quarterly milestones and setting goals. Yet most traditional CEOs don’t think to gamify performance and make it fun. 

No matter where you come from, you can draw from your own unique experiences, in work and life, to lead with authenticity. Your individual path is your biggest asset. 

Got your own business issue to work through? Book a free 15-minute strategy call and let’s figure out your next move.