What many professional services firms are forgetting… being complacent and not moving with times make it almost impossible to Sell your Business. But then you knew that, right?
Professional services firms are known as the “safest” b2b marketers, only second behind that of the medical industry.
Still stuck in the dark ages, many professional services firms still believe that ‘good work speaks for itself’and “you need to find the clients pain” ensuring that they keep it “safe” when embarking on marketing of any kind, rather than looking deep into customer insights to drive leads and create more sustainable client relationships.
What professional services firms are forgetting is that while they may still be on track to achieving their sales goals, being complacent and not moving with the times, will make it almost impossible to stay competitive.
It use to be that you hire the law firm
that your parents used or a trusted friend recommended and that was it. No price comparison, no searching for other options and no real negotiation.Content Driven Professional Services Marketing
Because they’re not ready.
Why are they not ready?
Because the Business Owner is capable of leaving the business ONLY if they’ve done their personal exit pre-work first.
By that I mean identify and work towards a Real “replacement” in their life of their business; a new identity if you like. Until that occurs, they’ve got nowhere else to channel their energy or emotion….
The secret ingredient is trust, good communication and openness to explore alternatives AND for the Business Owner to start their personal process much earlier.
Why Retiring Business Owners Balk at the Idea of Selling Their Company
As Nicole Madigan points out in her recent BRW article “The Guilt of the Working Father”:
So topical have the challenges of balancing business and motherhood become, the media is abuzz with catchphrases for those striving to achieve it. Terms such as “mumpreneur”, “WAHM (work at home mum)” and “mummy millionaires” are now common euphemisms for women who seem to be getting the balance right – or are at least trying to.
But when it comes to men building businesses and raising a family, this issue is rarely given a second thought. In fact, unlike their female counterparts, the very existence of children in the lives of male entrepreneurs and executives is seldom discussed.
But contrary to common belief, trying to perfect the balancing act – and the associated stresses – isn’t exclusive to mothers. Many fathers experience intense guilt over time spent away from their children.
Managing that guilt and finding ways to incorporate active parenting into their lives often proves difficult for entrepreneurs, many of whom have put their hearts and souls into building their businesses, particularly those started before children came along.
Combined with Bernard Salt’s latest offering, based on Census 2006 and 2011 data, “It’s no surprise, paid work outside the home dominated by Males”:
Generally, Australian women are much more likely than men too work up to 34 hours per week.
Men, on the other hand, are much more likely than women to work 35 hours or more per week.
And indeed the more hours worked, the more the worker is likely to be male.
…despite popular concern that “we are all working harder than ever”, the census data shows that this is simply not the case. In fact the reverse is true: at the peak of the boom in 2006 a greater proportion of the workforce was working long hours.
… we enjoy espousing the view that never before has anyone worked harder than we are working today. This is simply not true.
… while it’s true that women do twice the domestic housework of men, the fact is that men put in many more hours than women outside the home.
So, even though we say we want life to change, and do more of the guilt-free activities, seems we are not enabling ourselves to do so with the arrangements we currently work within…
and who’s the only person that can change that?
Since its inception, digital has been perceived as being the most measurable media. But most of that measurement has been meaningless. It’s time digital marketers stopped talking about clicks and impressions and instead focused on what’s important to marketers — business results. This is pretty easy if you have an e-commerce site and can track direct online sales. But what do you do if you’re part of the 94 percent of retail commerce that occurs offline?
We all know that consumers’ purchase decisions are greatly influenced by digital. They might be trying to decide where to go to dinner on their smartphone, on the web looking up reviews for a car they are considering purchasing, or surfing the web on their tablet after seeing your TV commercial.
Can’t track that impact? Sure you can.
You just need to look at things a little differently.
And the things are:
- Overall Site Traffic Trends
- Branded Search Volume
- Converter Traffic
- Referrer data
Togo more in depth on these terms, and read the full article, go here “The 5 metrics that really matter“.
Denise Hall talking “Start with the End in Mind” on businesssuccessradio.com.au by Denise Hall on Mixcloud
Greetings fellow Business Owners on businesssuccessradio.com.au
My name is Denise Hall, of “the entrepreneurial mother®” fame, ex Business Owner turned Exit Strategist and Business Broker.
We are gathered here today to introduce how to Start with the End in Mind regardless of how old your business is!
This is the first in a series where I will be covering all things “I don’t want to do this business any more”.
Having someone like me to talk you through this thought process (and don’t I wish I had someone like me to talk to when I was selling my business!) will save you time, effort and money when working out the best way forward.
In order to do that, I pop on my Buyers Goggles and help you view the business you’re building through such a filter.
I also invite you to go through the “Sellability Score” questionnaire and where to find it.
The “Sellability Score” essentially works 2 ways:
- you get a line-in-the-sand starting point
- you get a list of activities to consider in order to raise the score, and ideally the value, should you choose to do so
And you can even do it for FREE and you can find it at www.sellabilityscore.com.au
Have no fear as I’m the one who contacts you once the questionnaire is completed and the report is produced.
Go forth and complete…