by theEmother | Dec 17, 2016 | EXIT execution, exit strategy, Finish Unfinished Business, how to sell a business, Sell Your Business, SELL your Mother of a Business, start with the end in mind
Start 2017 realistically by answering the one key question of, what is my business worth? Do you wonder about how you could leave or exit? This appraisal worth $1650 will provide you with a fair idea of the value and how to improve the saleability and value of the business to be more attractive to the purchaser, and guide you through the next steps…
Donated by Xcllusive Business Sales
www.xcllusive.com.au
by theEmother | Dec 12, 2016 | EXIT execution, exit strategy, Finish Unfinished Business, how to sell a business, Sell Your Business, SELL your Mother of a Business, start with the end in mind
Start 2017 realistically by answering the one key question of, what is my business worth? Do you wonder about how you could leave or exit? This appraisal worth $1650 will provide you with a fair idea of the value and how to improve the saleability and value of the business to be more attractive to the purchaser, and guide you through the next steps…
Donated by Xcllusive Business Sales
www.xcllusive.com.au
by theEmother | Apr 22, 2016 | EXIT execution, exit strategy, Finish Unfinished Business, how to sell a business, Sell Your Business, SELL your Mother of a Business, so you think you're in business, start with the end in mind
Yesterday, yet again, I have met with a Business Owner who hired a Business Coach to assist them with their Exit Strategy only to find the business is no better off i.e. no closer to being exit-ready 12 months later and they’ve spent a whole lot of money to boot…
Here’s the thing from someone who deals in this space all day, every day – I have yet to meet a potential buyer who asks whether there’s a marketing and sales plan in place before they would consider buying the business, for example, it does not happen. Sure it may be in the mix of questions at some point but it only matters because of the way it is ‘sold’ to matter. The same goes for spending a whole heap on rolling on the marketing, trying to actually increase sales (especially without the infrastructure to back it up), bringing in a General Manager (without a well-thought out equity and game plan first), etc. And I’m yet to find an advisor who even asks if selling the business is the right thing to do for the Business Owner at this particular point in time, especially if the business features highly as their retirement funder.
An Exit Strategy, in the true sense of the phrase, to sell a business at a point in the future is about structuring the business ready for someone to want to buy it, but equally as importantly, it is about restructuring the business so that the owner can maximise their input with an impressive (and with expectations met) output.
In most cases, growth plans not executed well or quickly enough that make an instant difference are not useful.
The type of activities which make up a BEST Exit Strategy (and execution) are:
- Clean and profitable financials for a least TWO YEARS, looking as shiny as legitimately plausible
- Proving that the business is making money is important, but even more is that it will continue to do so, demonstrated by how well it funds itself
- Establish recurring revenue models and lock them in
- HR agreements (and implications) are well documented and understood
- Signed contracts are in place and ideally have as much time on them to run as possible
- Evidence of 21st Century considerations in both how the business fits into the future, including processes and technology
- Where feasible, the business owner is NOT the centre of attention or attraction
- If not, what can distinguish the business as a hub as touting that “we’re good at customer service” is not nearly enough
- Actively demonstrate that customers will stay with the business based on gathered and documented feedback
- That the current owner is VERY CLEAR about what they are doing next, i.e. living their new dream, which does not involve only playing golf or going on a cruise!
Admittedly, you get these right and growth may very well follow suit, and the owner may not want to leave after all (which has happened) but growth is certainly not the starting point.
Happy to talk through this at any time. If you want to explore what is useful and productive in an Exit Strategy in your context, please contact me.
by theEmother | Feb 2, 2016 | business ideas & thinking, Consultant EXIT Options, EXIT execution, exit strategy, Finish Unfinished Business, PrimeTimers, Sell Your Business, SELL your Mother of a Business, so you think you're in business, start with the end in mind
Hip hip hooray!
If you have being having serious doubts about how you can continue with your business (for whatever reasons), then please let me help.
The Happy NewS Year is a month in and maybe your business is not or will not be performing as intended. And that sinking feeling is slowly but surely setting in…
STOP RIGHT THERE!
Talk to me.
Let’s go through what you have and work out what your options are. This is gift to you, you only have to ask.
Completely confidently.
Make contact via the various ways noted on the site or email me at info@theentrepreneurialmother.com.au
Don’t be shy. Don’t be proud. Don’t stick your head in the sand. We’ll just start by talking. Truly…
Hip hip hooray!
by theEmother | Jan 22, 2016 | adventures with daughter, Consultant EXIT Options, exit strategy, Finish Unfinished Business, MEinc, single parent l single mother, so you think you're in business, start with the end in mind
Travel is one of the best things for clearing your mind and really being able to concentrate on what makes your heart sing. By default, in doing so can also upset the current apple cart, specifically if you realise that what you’re doing is not cutting it, i.e. it’s time for a change.
Over the 2015-15 break, I was most fortunate enough to spend time in Antarctica. Talk about getting away from it all! But as a business owner, I also appreciate how tricky it is to be able to arrange time away like this, amongst other things.
Whilst I didn’t have such a business-change epiphany this time around, I have in the past so I fully appreciate how hard it is to then return to bring the change to fruition, and how big a deal it may end up being…
As a business owner, changing can be tricky though, especially if you have others reliant on you, whether they be suppliers, customers or staff. That said, it can be done, yes really. I’ve done it, I’ve helped others do it and you can too.
Granted, it will take some time and effort to execute but getting out is doable if you are prepared to do what it takes. This means thinking and possibly acting differently than you have previously. For some, this can be confronting, but if the need to succeed is stronger than the need to maintain the status quo, then the outcome can prove most desirable.
You’re not going to know if you don’t at least explore options.
And that’s where I come in…
Talk to me about what you have, what you want to do/have instead and I allow me to help you realise your new dream! You’re invited to email me to book a date/time for a chat info@theentrepreneurialmother.com.au
by theEmother | Dec 18, 2015 | adventures with daughter, exit strategy, Finish Unfinished Business, so you think you're in business, start with the end in mind
Well, its that time of year again; no surprise I know but… “where 2015 go” I hear you cry!
Time certainly seems to be moving a lot faster these days, but then maybe that’s because we try and jam too much in….
As I am about to head off on Daughters and my next adventure in Antartica, I thought it worth sharing what I’ll be pondering on and I gently and genuinely invite you to do the same too… lets use the “quiet” time over New Year to do a little navel gazing…
- review what worked and didn’t work in 2015, and use that information to kick-start 2016
- sit down undisturbed and let your mind wander and dream about what would really make you happy
- if you hear yourself saying, “I don’t want to do this business any more” then lets now do something about getting you OUT, shall we?
And here’s how:
* Finish off the year by completing this Scorecard:
* Using this as a line-in-the-sand for what to concentrate on in 2016 (and do it annually until we have sold your business), you’ll be starting down the right path
* And if you want to get into more detail, there is a 60+ page manifesto to go with this, but you’ll need to email me and ask nicely! 🙂
* I’ll also throw in a copy of my Chapter in the “Secrets of Inspiring Women Exposed” book.
ho ho ho and top of the festive season to you and yours.
denise
the entrepreneurial mother
ps Over the next 5 weeks, posts will be ones I had prepared earlier!
To follow “live crosses” you are welcome to visit www.ozsee.com.au where I will be sharing when technology allows me to.
We are leaving our little corner of the earth and going to one of the quietest and most pristine places on this glorious planet of ours. I cannot express adequately how fortunate I feel about being able to do so…
