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 | Jan 11, 2016 | build a Mother of a Business, business ideas & thinking, buy | sell websites, Buy a Mother of a Business, Online Strategy incl. www, so you think you're in business, start with the end in mind, the business model
Seth Godin (acclaimed author and teacher) says to start your first business this way:
- Begin with the smallest possible project in which someone will pay you money to solve a problem they know they have.
- Charge less than it’s worth and more than it costs you.
- Repeat
The beauty about doing so with an Online Business is that not only is it simple to do; it can be done far more cheaply than to go a more traditional route.
Don’t worry so much about the ‘online’ part. It is only a tool, a mechanism to reach people who need to know about you’re your business is doing. Instead, figure out how to create value. The online part will take care of itself.
Don’t quit your day job (whatever that means to you) or use all your savings. Start evenings and weekends. If you don’t want to have to start from scratch, buy a small online business to practice on. The best way to move from Learner to Practitioner is to DO stuff. Figure it out with small failures.
Doing so also helps you build a public reputation (which can remain online only). Build a good one, and be sure that you deserve it, and that it will hold up to scrutiny.
Obsessively specialize. No niche is too small if it’s yours.
Connect the disconnected.
Make money offline. If you can figure out how to create value face to face, it’s a lot easier to figure out how to do the same digitally. The web isn’t magic, it’s merely efficient.
Become the best in the world at something that people value. Easier said than done, worth more than you might think.
Hang out with people who aren’t looking for shortcuts. Learn from them. Find and pay for advice that has not only credentials but also a robust track record.
Fail. Fail often and fail cheaply. This is the very best gift the web has given to people who want to bootstrap their way into a new business.
Make money in the small and then relentlessly scale.
Don’t chase yesterday’s online fad.
Think big, act with intention and don’t get bogged down in personalities. If it’s not on your agenda, why are you wasting time on it?
Learn. Ceaselessly. Learn to code, to write persuasively, to understand new technologies, to bring out the best in a team (especially if offshore), to find underused resources and to spot patterns.
This is not a zero sum game. The more you add to your community, the bigger your piece gets.
Here’s a novel first seven steps to get you going:
- Pick your Topic
Create a strategic map of all that is going on within that topic and start checking for gaps and patterns
- Keywords
Concentrating on both the industry players and their likely customers, create a list of keywords that is used to find them and are relevant to your topic
- Search
Using these keywords, start searching and note what you find. Again what are the questions being asked that does not appear to have answers?
- Top 50 pages
Record what the top 50 pages are that come up for the questions. Explore them for the answers being sought. What’s missing?
- Extract contact details
Feed into your database/spreadsheet
- Create an “offer”, with the view to discussing what’s missing with the top 50, highlighting how you are the one to assist in plugging this gap (and to project manager it for payment)
- Rinse and repeat
Following steps like these will enable you to potentially play in a space you may be more familiar in i.e. the more traditional business, and together, craft and execute an online business model that you has you part of the action.
And it certainly opens the door to a useful conversation about whether your personal goal is useful, your strategy is appropriate and your tactic is coherent and likely to cause the change sought.
In your offer, address:
What’s it for?
When it works, will we be able to tell?
What’s it supposed to do?
Who is it for?
What specific group is this designed to resonate with?
What does this remind you of?
Who has tried this before?
Is it as well done?
What’s the call to action?
Is there a moment when you are clearly asking people to do something?
Show this to ten strangers. Don’t say anything. What do they ask you?
Now, ask them what the material is asking them to do.
What is the urgency?
Why now?
Your job is not to answer every question; your job is not to close the sale. The purpose of this work is to amplify interest, generate interaction and spread your idea to the people who need to hear it, at the same time that you build trust.
You will rarely achieve this with one fell swoop, so be prepared to drip your way through countless swoops until you’ve earned the privilege of engaging with the audience you seek and them seeing the value in what you’re proposing.
As simple as Seth’s advice is, it is also extremely powerful. Follow it, together with the steps outlined and you will be well on your way.
To talk to me about this and any other business question you have on your mind, please contact me via email: dhall@businessbrokers.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…
by theEmother | Oct 26, 2015 | buy | sell websites, BUY a Business, Buy a Mother of a Business, EXIT execution, exit strategy, 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
Trying to sell your business on your own, having not done it before, can be fraught with danger!
As the old adage goes, “You don’t know what you don’t know!“. There’s always the chance that you luck your way through, and all hail to you if you manage to do so.
But what I know for sure is, as an experienced Business Broker, is that most do not sell, or sell well.
You (as the owner) eventually use a Broker after trying unsuccessfully.
In many cases, all that’s unfortunately been achieved is that it takes a whole lot longer to sell and by potentially taken your eye off the business ball, the numbers may then reflect the distraction (which is not good for sale purposes)…
So why consider using a Business Broker from the outset?
- We are licensed to assist in the buying and selling of businesses, at the State level
- We have insights, gleaned over many years, into specific industries or type of businesses
- We maintain confidentiality of buyer/seller
- We act as a buffer between the buyer and the seller
- We have a working knowledge of accounting, financing, legal, marketing etc to avoid unnecessary surprises in a transaction
- We play the role of the “conductor of the orchestra” and even the “project manager”.
If trying yourself is what you want to do first, then watch out for these common mistakes to avoid when exiting. Not:
- Focusing on the bigger picture
- Doing your own research of your own market
- Thinking through the “risks” – almost impossible to be “risk free”
- Entertaining a willingness to accept risks •Example: Special conditions that can “kill the deal”
- Regarding the probability of things going wrong
- Reviewing the seriousness of quantifiable damage
- Budgeting for upfront costs
- Adapting “generic due diligence checklist/template” to your needs or size of the transaction •Example: Using a checklist suitable for multi-million dollar enterprise on small businesses
- Deeming it worth the extra expense to seek input from accountants and solicitors with your particular industry expertise, while maintaining an existing relationship with your accountant or solicitor.
- Being sure of who or what professional to seek appropriate advise from
- Understanding the limitations of what the professional advisors can provide
- Giving appropriate instruction to the professionals engaged
The following are 5 tips to help enhance the sale price of your business… by answering these 5 questions, you are seeing your business popping on Buyers Goggles.
Is it:
- Profitable?
- Renovate-able?
- Automate-able?
- Scalable?
- Saleable? (i.e. not revolving around you)
If the answer is no to any of these, then you/we have got work to do. Contact me.
by theEmother | Oct 25, 2015 | build a Mother of a Business, business ideas & thinking, Buy a Mother of a Business, entrepreneurial mothers, Finish Unfinished Business, how to sell a business, inspiring women, SELL your Mother of a Business, single parent l single mother, so you think you're in business, start with the end in mind
Just think, 30 minutes dedicated to asking all those niggling questions that you’ve had sitting in the back of your mind for some time but just not got around to asking… NOW IS YOUR CHANCE!
I am proud to be involved with Mummy Mentoring Festival – raising funds for Alannah & Madeleine Foundation.
I have donated 3 sessions to help wonderful women, working from home, all across Australia.
Check out this great charity event and how you can win a 30min phone session with me or any one of 37 mentors from all fields of expertise/business.
BIDDING STARTS TOMORROW 26 October… go forth and win!
http://bit.ly/1Yxa8OY
