by theEmother | Jun 13, 2014 | 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, the business model
How Saleable is Your Business in 2014? How Saleable do you want Your Business 2014? What are you waiting for? GET YOUR SCORE…
Started some of the renovation of the transferred website this week, with more to come. Best way is to step this out anyway, given I want to know what works and what doesn’t. I won’t know that if I do it all at once will I? Yes, I do need to double the numbers first off, to make it worth continuing the process, but systematically and consistently is the way to go.
Most interesting week!
My past Consulting world is starting to make its presence felt. And it feels OK. When I sold my business 3 years ago, I thought Consulting would be the last place I would consider playing in again. And this would still be the case if I had not been contacted by two separate parties this week about doing a project or two. Both of reasonably considerable size too.
Interesting the timing on this too. The 3-year restraint of trade clause I agreed to abide by ends at the end of June, that is, in two weeks time. Is the Universe providing? Maybe, if you believe in such things. Or is it all serendipitous, who can say. I do find it worthy of observation and consideration nonetheless.
Who knows, these may not go anywhere. However, given they both tie in with my now well-tuned Exit Strategy filter, they could end up being a lot of fun. Looking forward to see what transpires…
GOT A WEBSITE FOR SALE?
If you want to sell a website or you’re looking to buy a website (excellent bolt-on possibilities), please email me at dhall@businessbrokers.com.au
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
Not sure this one is going anywhere now… bugger! However, I did have a conversation with a chap this week, who assures me he is the one to go in and turn this around. And maybe he is. Just need to introduce him in, once he supplies his snapshot of why he should be considered.
BS49 Home Help…
Due Diligence is now done, with some argy bargy about certain declarations which has resulted in a price revision. Nothing major but relevant nonetheless. Next, contracts!
BS53 Balloons! and all that goes with them…
Sadly this one has stalled. Not sure what else to do…
BS59 Niche Service Provider in Building Trade
via Sellability Score.
It’s all systems go! Advertisement is ready to fire. This is a cracker for a white-collar wanting to get out of the office or a trade wanting to get off the tools. Given how close to end-of-financial-year it is, we’re going to wait a few weeks, get the 2014 numbers done and then go to market.
BS60 Advertising and Events agency
(via Sellability Score)
Advertisement on websites. Trial Linkedin campaign commenced but wondering now if the ones chosen are too small. So have sourced larger agencies and will commence campaign this week.
BS72 Niche Bookseller and Training Provider
Finalisation of the IM confirmed. Contact details for key players collected. Courting them commences…
Training provider
Assisting colleague by introducing the perfect buyer for his selling client. However, due to their own growth plans, this has been placed on the back burner. 3 private parties have indicated interest. Waiting on vendor to decide if he wants to play with any of them.
Health Care Provider
Assisting colleague by introducing the Home Help interested party to their client, now that the authority has been signed. IM was sent but neither parties were keen on this one.
It’s all happening…. Others I’ve talked too.. are you interested in any one of them?
- a particular event
- sales and services
- magazine
- specialty bed linen
- facilities management
- speciality giftware
- technology reseller
- specialty children’s products x 2
- overseas medical procedures
- online products
- electronics retailer
- niche manufacturer
- specialty clothing
If yes, let me know…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
by theEmother | Jun 10, 2014 | build a Mother of a Business, business ideas & thinking, exit strategy, Finish Unfinished Business, Sellability Score, so you think you're in business, start with the end in mind, the business model
Following on from last weeks post, “when you can’t find the Gold for the stuff…”, the team at the Sellability Score wrote this around the same time… clearly on to something here…
If you’re not going to get paid for parts of your business that are just okay, why bother sticking with them? Aren’t they just noise adding little value to your company? Why not, as Fried has done, focus your energy on the one product where you already have a winner. Invest your resources in staying ahead of competitors rather than spreading yourself too thin. If you get busy playing catch-up with me-too products, an acquirer may view them as a liability rather than an asset.
[Read the full article here]
Even if you do want to run multiple channels, so be it, but set them up quite independently. That way, each can be hived off as necessary. As you know having all your eggs in one basket is not necessarily the smartest way to structure. That said though, as long as each element is standalone, which can be bolted together or separated out as required, all is still doable.
When talking about a strategic buyer, (as I did recently), they
…will look at the same business and strip away the average products before making an offer based on what the best product(s) is worth in their hands. If the winning product is a small part of a diversified company’s revenue, the owner may be disappointed by how low the offer is…
Do you have winners? How are you structured to make full use of them?
by theEmother | Jun 6, 2014 | build a Mother of a Business, 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, Sell Your Business, SELL your Mother of a Business, Sellability Score, so you think you're in business, start with the end in mind, the business model
How Saleable is Your Business in 2014? How Saleable do you want Your Business 2014? What are you waiting for? GET YOUR SCORE…
Started some of the renovation of the transferred website this week, with more to come. Best way is to step this out anyway, given I want to know what works and what doesn’t. I won’t know that if I do it all at once will I? Yes, I do need to double the numbers first off, to make it worth continuing the process, but systematically and consistently is the way to go.
Yet again this week, I spent time with two business owners, both complaining about the situation they’ve found themselves in. One, bought into a franchise that appears to be making it up as they go along. Not a bad thing in some respects given they will at least trial things and are not to set in their ways, yet! Means the employees of the franchisor are working really hard to rein it back in and keep a lid on all that’s being asked. Be interesting to see how this one pans out.
The other is a business owner of over 40 years, where the bum has fallen out of its market. Sad? Yes. The superannuation payout as dreamt? No. Alas, but what’s that we find? Items of significant historical value I hear you cry. Ready to sell to the right bidder. Perfect! Might just realise more than ever thought possible when selling the business as such. Now time to spend cataloguing what is valuable and get ready to go to market. As for the business, if the sale of these items come off as foreseen, then the business can close its doors in 18 months and all will be well with the world. Again, time will tell…
GOT A WEBSITE FOR SALE?
If you want to sell a website or you’re looking to buy a website (excellent bolt-on possibilities), please email me at dhall@businessbrokers.com.au
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
Not sure this one is going anywhere now… bugger!
BS49 Home Help…
Exclusive Due Diligence has commenced. As always, a few issues raised but none that can’t be sorted out. At least, I hope so!
BS53 Balloons! and all that goes with them…
One unsatisfactory offer touted, confirmation sought. The others are tempted by others… not sure what will happen. Might be a case of door closing too.
BS59 Niche Service Provider in Building Trade
via Sellability Score.
It’s all systems go! Advertisement is ready to fire. This is a cracker for a white-collar wanting to get out of the office or a trade wanting to get off the tools.
BS60 Advertising and Events agency
(via Sellability Score)
Advertisement on websites. Trial Linkedin campaign commenced but wondering now if the ones chosen are too small. Can’t tell via a profile. Will need to find larger agencies.
BS72 Niche Bookseller and Training Provider
Waiting on finalisation of the IM.
Training provider
Assisting colleague by introducing the perfect buyer for his selling client. However, due to their own growth plans, this has been placed on the back burner. Others are putting their hands up initially but no-one really sticking it out yet.
Health Care Provider
Assisting colleague by introducing the Home Help interested party to their client, now that the authority has been signed. IM has been sent, so awaiting feedback.
It’s all happening…. Others I’ve talked too.. are you interested in any one of them?
- a particular event
- sales and services
- magazine
- specialty bed linen
- facilities management
- speciality giftware
- technology reseller
- specialty children’s products x 2
- overseas medical procedures
- online products
- electronics retailer
- niche manufacturer
- specialty clothing
If yes, let me know…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
by theEmother | May 30, 2014 | build a Mother of a Business, business ideas & thinking, 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, the business model
How Saleable is Your Business in 2014? How Saleable do you want Your Business 2014? What are you waiting for? GET YOUR SCORE…
OK, so renovation of the transferred website was supposed to happen this week also… but alas, business owners got in the way! Not a bad thing of course but my schedule was pushed out as a result. After all I do need to double the numbers first off, to make it worth continuing the process. Next week!
In the meantime, over the last weeks, I have been invited to many an event where the keynote is discussing something along the Exit Strategy line. The more I hear, the more it’s all sounding the same.
Plan a few years out,
go for the BIG pay-day strategic sale and
all will go swimmingly.
In my day-to-day role as a Business Broker, the sale of a business does not just roll along like that; at all.
Strategic sales are RARE. And I mean rare.
Most businesses are lucky to get 1-3 times multiple, let alone 6+ the strategic sale advocates are spruiking.
Most businesses are not on the radar of larger players.
Most businesses do not know how to get on the radar of the larger players.
Most businesses are not interesting or big enough for larger players to pay attention.
By all means, go for it if you are in a position to facilitate a strategic sale but if you’ve not fostered that as an option, then let it go. It will be very rare for it to magically materialise when you’re ready.
Just keep your business sale-ready, all the time.
If you choose to sell, the broker (under your instruction), can court the strategic players by all means. But don’t expect it to be quick, if at all.
Instead, build a business that someone else wants to buy and then let the market fight about who eventually buys it.
GOT A WEBSITE FOR SALE?
If you want to sell a website or you’re looking to buy a website (excellent bolt-on possibilities), please email me at dhall@businessbrokers.com.au
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
The revised IM is due by end of week. As suspected, the numbers are not looking good. Hence the nature of the sale now will be quite different to the time when we had an offer on the table (which was declined). When there’s a delay like this, one of two things happen. The time has been used to either actively write more business and really get it firing or sit back and hope all falls into place. Sadly, this falls into the later category.
BS49 Home Help…
Exclusive Due Diligence has commenced. The meeting of the Franchisor went well. Now getting into the detail.
BS53 Balloons! and all that goes with them…
Three are interested. Current information has been supplied. Meetings on premises have taken place. Hope to see a few offers next week.
BS59 Niche Service Provider in Building Trade
via Sellability Score.
It’s all systems go! Awaiting on sign-off of IM and advertisement. Once done, we go to market. This is a cracker for a white-collar wanting to get out of the office or a tradie wanting to get off the tools.
BS60 Advertising and Events agency
(via Sellability Score)
IM finalised. Advertisement on websites. Linkedin campaign about to commence.
BS72 Niche Bookseller and Training Provider
Waiting on finalisation of the IM.
Training provider
Assisting colleague by introducing the perfect buyer for his selling client. My contact is taking this one slowly as another deal needs to come through first. May not suit sellers timing but it is what it is…with another showing interest too. IM will go to them in due course.
Health Care Provider
Assisting colleague by introducing the Home Help interested party to their client, now that the authority has been signed. Awaiting on finalisation of IM to send through.
It’s all happening…. Others I’ve talked too.. are you interested in any one of them?
- a particular event
- sales and services
- magazine
- specialty bed linen
- facilities management
- speciality giftware
- technology reseller
- specialty children’s products x 2
- overseas medical procedures
- online products
- electronics retailer
- niche manufacturer
If yes, let me know…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
by theEmother | May 27, 2014 | business ideas & thinking, entrepreneurial mothers, exit strategy, Finish Unfinished 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, the business model
Late last week I had a chat with a chap who owned a business and was looking to explore the option of selling it. Having not done a sale before and not knowing anyone around him that had, his first soft approach was to complete the “Sellability Score“.
No surprise, his business rated “average”, as do all businesses who have completed the score up to this point in time. Given he was only exploring however, it gives he and his business partner plenty of time to sort things out and raise that score… but there in lies the problem, they don’t even know if this is a path they want to take yet, because they hadn’t talked about it.
It this particular instance, it did not help that one of the partners was in Melbourne and the other in Brisbane but I’m seeing it more and more again as I play in this “how to sell” space. The partners have not had the hard discussions that need to happen prior.
I say hard because the true answers as to what has to happen next usually do not revolve around the business per se. It usually gets personal around what do you want life to look like and does this business feature.
Much harder to articulate too if
a) you’ve not thought about it before
b) if you’ve not had this more in depth discussion with your business partner before
And just because they’re hard discussions does not mean they should not be had.
It’s a lot easier to put this stuff off.
“We’ll talk about it next time we see each other”.
Ah, no you won’t.
Or at least not get into the depth that is required.
And that can’t be done on a whim either.
You have to have done some personal navel gazing first to be able to even start.
You have to book a date/time/place to do so.
So where I left this conversation was, they have to talk to each other and work out what each wants, articulate that and then plan accordingly. Sometimes a third party facilitating this process can be most beneficial as they ensure you work through the agenda and not get side-tracked. I did of course offer my services as I have been through this particular scenario myself. Whether they take it up remains to be seen.
Selling a business seems hard, but like anything, there is a process to follow.
Bringing up this conversation with your business partner may also be hard, but it is doable and there is a process to follow.
Getting your business-owner head and heart right is also hard, but it is doable and there is a process to follow.
Start the process, you’ll be surprised where it leads you…
by theEmother | May 23, 2014 | build a Mother of a Business, 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, start with the end in mind, TEMpting, the business model
How Saleable is Your Business in 2014? How Saleable do you want Your Business 2014? What are you waiting for? GET YOUR SCORE…
OK, so renovation of the transferred website was supposed to happen this week also… but alas, business owners got in the way! Not a bad thing of course but my schedule was pushed out as a result. After all I do need to double the numbers first off, to make it worth continuing the process. Next week!
In the meantime, very excited about a Heads of Agreement signed and a deposit collected. This, I think, is a great buy, a good deal all round really. Why? because it has felt like it all the way through the meetings and dealings to date. Only complication with this one is it is a Franchise. Which means then that the Franchisor can stymie all attempts to sell, if they feel so inclined!
The key learning out of this Franchise transaction for me is that the two-level approval process required i.e. that of the owner first and then that of the Franchisor second, adds a layer of complexity not seen in typical business transactions. This additional level should not cause grief, I agree. But having that level does add more steps where something could go wrong.
So far so good. Lets hope it continues that way…
GOT A WEBSITE FOR SALE?
If you want to sell a website or you’re looking to buy a website (excellent bolt-on possibilities), please email me at dhall@businessbrokers.com.au
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
The revised IM is due by end of week. As suspected, the numbers are not looking good. Hence the nature of the sale now will be quite different to the time when we had an offer on the table (which was declined). When there’s a delay like this, one of two things happen. The time has been used to either actively write more business and really get it firing or sit back and hope all falls into place. Sadly, this falls into the later category.
BS49 Home Help…
The signed Heads of Agreement is completed and a deposit is paid. Next step, exclusive Due Diligence commences.
As for the other party, they have been advised accordingly. Fortunately though, I hope to have another similar to introduce next week.
BS53 Balloons! and all that goes with them…
So the one is interested. Additional information has been supplied. Next step is to meet on premises and really talk the numbers through. Hope to arrange a meeting next week.
BS59 Niche Service Provider in Building Trade
via Sellability Score.
It’s all systems go! Awaiting on sign-off of IM and advertisement. Once done, we go to market. This is a cracker for a white-collar wanting to get out of the office or a tradie wanting to get off the tools.
BS60 Advertising and Events agency
(via Sellability Score)
IM finalised. Advertisement on websites. An industry mailing list from our existing relationships has been pulled together and emails have been sent. One party has indicated interest so will call to chat initially. Be interesting to know how this fits in with their current growth plans.
BS72 Niche Bookseller and Training Provider
Waiting on finalisation of the IM. Looking to verify a few numbers first.
Training provider
Assisting colleague by introducing the perfect buyer for his selling client. My contact is taking this one slowly as another deal needs to come through first. May not suit sellers timing but it is what it is…with another showing interest too. IM will go to them in due course.
It’s all happening…. Others I’ve talked too.. are you interested in any one of them?
- a particular event
- sales and services
- magazine
- specialty bed linen
- facilities management
- speciality giftware
- technology reseller
- specialty children’s products x 2
- overseas medical procedures
- online products
- electronics retailer
- niche manufacturer
If yes, let me know…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
