by theEmother | Jan 6, 2014 | build a Mother of a Business, business ideas & thinking, Finish Unfinished Business, Online Strategy incl. www, so you think you're in business, start with the end in mind, the business model
This is all about defining the specific goals, deliverables, project sponsors and internal and external team members your Business wants to get from its Online Strategy activities. Whilst it sounds rather large, potentially draining and incredibly time-consuming, it does not need to be like that. Not in the way I do it anyway…
Questions to be reviewed and answered:
- assess the current environment
- what are we good at?
- how do we know what we’re good at?
- who is the audience?
- what do they want?
- what does we want?
- why do they buy?
- why do we think they buy?
- who are our advocates?
- what are their demographics?
- what have they bought previously?
- what are the “longtail” segments?
- what are the trends?
- how are we tapping into the trends?
- what do we want done?
- how do we measure what we’re doing?
- what does the collection of the information mean?
- what are we doing differently as a result of this information?
- what technology is currently in use?
- what technology needs to be accessed?
- how will the offline/online businesses work together?
- who will do what?
- what options do we have?
- how will we know we’ve got it right?
All these questions focus on Getting Clear…
How clear are you?
by theEmother | Jan 3, 2014 | build a Mother of a Business, business ideas & thinking, buy | sell websites, BUY a Business, Buy a Mother of a Business, Finish Unfinished Business, growth by acquisition, Online Strategy incl. www, so you think you're in business, start with the end in mind, the business model
Well, it’s like any strategy really. The more pressing question is probably more about whether I, as a Business Owner, actually has any kind of strategy at all!
If yes, then adding the Online component will be less tricky.
If no, then starting from scratch, with the end in mind, is what needs to happen sooner rather than later.
Whilst the following Strategic principles will be Online focused, they apply across the greater business strategy as well…
- what’s worked and what needs to?
- who cares and how will they?
- the Online RollOut Plan
- what does this all mean to YOU, the Business Owner?
We’ll explore each of these in detail, one by one, over the ensuing days.
by theEmother | Jan 2, 2014 | build a Mother of a Business, business ideas & thinking, buy | sell websites, BUY a Business, Buy a Mother of a Business, EXIT execution, exit strategy, Finish Unfinished Business, growth by acquisition, how to sell a business, Online Strategy incl. www, Sell Your Business, SELL your Mother of a Business, so you think you're in business, start with the end in mind, the business model
That most Business Owners do not understand Online in terms of their business strategy not only misses the opportunity it presents but how it even relates to what they do and how saleable it will make the business when the time comes.
I quite often hear Business Owners, when asked about their Online Strategy, say:
- “I know I should be doing something about the whole thing but I don’t have the time”
- “I have a website, isn’t that enough?”
- “What do you mean ‘how well’s it doing for me?’, what can it do exactly?”
- etc…
What I know is that potential Buyers are asking about the Online Strategy of the existing bricks and mortar business almost every time, as part of their consideration when looking to buy. And, they will discount the price the Seller wants because it is has not been developed or activated.
If Online is not part of the current revenue mix of the business then it will not be factored into the price. As my learned colleague Robert Hurst says, “what Buyers buyer is profit, why they buy it is potential.”
If a Buyer sees the potential, that will be a reason to purchase. But, they will not pay more for the opportunity to do so, other than what is actually presented at a particular point of time. If the Business Owner has not brought an Online Strategy to bear fruit, then the privilege of doing so will go to the next owner.
So what to do about it? If creating and implementing an Online Strategy was easy to do then every Business Owner would do it in a heartbeat! In actual fact, from where I sit right now, it is not that hard but you need to be asking the right questions and developing the solutions to make it work.
My 2014 adventure will be all about understanding the questions and the solutions in detail…
by theEmother | Jan 1, 2014 | business ideas & thinking, buy | sell websites, BUY a Business, Buy a Mother of a Business, EXIT execution, exit strategy, Finish Unfinished Business, growth by acquisition, how to sell a business, Online Strategy incl. www, Sell Your Business, SELL your Mother of a Business, so you think you're in business, start with the end in mind, the business model
The next stage of my “service” development is now upon me; concentrating on the BUYing and SELLing of websites from the view point of the website being a profit centre in it’s own right…
This journey all started some time ago when I had the good fortune of meeting Matt and Liz Raad. At the time, I was heavily involved in selling my Mother of a Business, aCE talentNET and I enrolled in their “How to Buy and Sell a Business” program to assist me.
aCE talentNET was sold July 2011. It was at this time I morphed into the Exit Strategist and Business Broker that I am today.
The Raads have now morphed into experts on the Buy | Sell of websites and having had success last time, I’m not going to let the opportunity to work with them again go by, especially when in my niche.
Given my passion is to assist Business Owners to GET OUT, what has become painfully obvious is that most are nowhere near ready. Well, not in terms of maximising the full capability of the sale that is!
And most fall down at the Online Strategy.
This is not hard to rectify but as with anything, the Business Owner has to want to see it and DO something about it.
Having already started down this path of specialising in Online Businesses in the Brokering space, this year I embark on amercing myself in all aspects of the Online space, with a commercial sensibility and sharing my learning, activities and wins/loses with you.
Diarising this for the year will indeed be a most informative and ideally rewarding way to spend 2014… time will tell.
by theEmother | Dec 20, 2013 | build a Mother of a Business, business ideas & thinking, BUY a Business, Buy a Mother of a Business, Buying2give.com, Consultant EXIT Options, entrepreneur trends (past & present!), entrepreneurial mothers, events, EXIT execution, exit strategy, Finish Unfinished Business, growth by acquisition, how to sell a business, inspiring women, MEinc, Online Strategy incl. www, political offerings, Sell Your Business, SELL your Mother of a Business, Sellability Score, single parent l single mother, so you think you're in business, start with the end in mind, TEMplate, TEMpting, the business model, women in business case studies
May your stocking be filled with all your little heart desires.
Ho ho ho!
ps: 2014 is shaping up to be a ripper… look forward to sharing it with you
by theEmother | Dec 13, 2013 | build a Mother of a Business, business ideas & thinking, BUY a Business, Buy a Mother of a Business, EXIT execution, exit strategy, Finish Unfinished Business, growth by acquisition, how to sell a business, Sell Your Business, SELL your Mother of a Business, Sellability Score, so you think you're in business, start with the end in mind, TEMpting, the business model
How Saleable is Your Business in 2014?
What are you waiting for? GET YOUR SCORE…
The most interesting conversations continued this week with Business Owners looking to GET OUT. Guess the deadline of the festive season will do it every time!
A few Business Owners have touched base again, realising the end of the year is nigh. A few Business Buyers have popped their head up too, especially after having been retrenched recently.
Already determined what 2014 will look like for me, so looking forward to it already…
And you…what does 2014 bring?
If any of the following tickle your fancy, please email me at dhall@businessbrokers.com.au, letting me know which one it is…
FOR SALE…
BS30 Online Venue Business
Completed Sellability Score
Looking for our new plan of attack on this one… maybe a 2014 resurrection is on the cards
FOR SALE
*
BS43 Tourism
Deposit locked and loaded. Settlement planned for 2014.
When it’s a good thing, it pays to act quickly.
FOR SALE
*
BS48 Pet Grooming and Shop
The trial is in play with settlement due shortly. What an end of year present! Fingers crossed all goes well.
FOR SALE
*
BS49 Home Help…
This is an interesting one. Mainly because it is playing in a growth industry but the players looking at it are playing small. In the process of revisiting the presentation to be more appealing to those with a larger appetite.
FOR SALE
*
BS53 Balloons! and all that goes with them…
Such corporate appeal, so untapped. Potential buyers have stalled a little now. It’s waiting for the savvy operator that can see past the retail component. Needs to be thought more of as a warehouse!
FOR SALE
*
BS57 Online Business
Signed good to go. A true online business at that ie all is in place, it’s making money and it dropships! In the process of developing the IM now. Stay tuned.
Exploring Sale Option…
GET YOUR SCORE…
*
The “Sellability Score” reports continue to dribble in each and every week.
More calls to make as a result and more emails to send 🙂
Onwards and Upwards!
