by theEmother | Mar 21, 2014 | 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, 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…
Having spent last weekend on the Gold Coast upgrading my skills on buying and selling websites, the future has become even more clear. A Business Owner cannot ignore online any longer, especially if they want it to be a saleable asset.
To be purely offline is leaving money on the table, to be purely online is rare.
Where most businesses sit is as a hybrid of both offline and online. What market to best showcase the business in will depend where the buyer is most likely to be found.
5 business owners started the process this week, with another 2 being followed up. There is definitely a shift in the activity in the market…
GOT A WEBSITE FOR SALE?
If you want to do 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
4 interested parties, with an update of the IM being done and a reenergised campaign. Will see a bit of movement on this one in April.
BS49 Home Help…
One party is very interested, with offer pending. The potential has been well and truly revealed so it’s down to price and the level of comfort required to “pull the trigger”, as they say in the classics! 2 others have popped their heads up but nothing really concrete at this point.
BS53 Balloons! and all that goes with them…
Such corporate appeal, so untapped. It’s waiting for the savvy operator that can see past the retail component and tap into it’s possibility as a warehouse servicing the larger players. Bit stuck on this one now!
BS57 Online Business
Signed good to go. It’s making money! Have received signed authority’s and in the process of developing the IM now. Stay tuned.
BS60 Advertising and Events agency
(via Sellability Score)
Authority signed. First fact finding meeting conducted. All parties getting more and more clear about the objective of finding the buyer. New website being launched. Draft IM is in progress.
Others I’m talking too.. are you interested in?
- a particular event
- specialty educational toys
- niche in building trade (via Sellability Score)
- sales and services
- magazine
- specialty bed linen
- facilities management
- speciality giftware
- technology reseller
- mortgage broker
If yes, let me know as these revealed themselves this week…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
by theEmother | Mar 19, 2014 | build a Mother of a Business, business ideas & thinking, buy | sell websites, exit strategy, Finish Unfinished Business, Online Strategy incl. www, so you think you're in business, start with the end in mind, the business model
The following is a series of questions to help start your thinking around your Online Strategy.
- Does the Business currently have an online presence at all? If not, why not?
- Is there a mapped out Online Strategy in place?
- If yes, how old is it?
- How well has it been executed?
- If not yet and it had to be executed immediately, does it make sense?
- Is it addressing what really needs to be addressed?
- If yes, what’s worked? what hasn’t?
- What are you still doing that you shouldn’t be?
- If selling is an option, does it appeal to a Buyer in its current form?
- Is it set up to be able to “hand over” to a third party?
- How are the online records (eg Google Anaytics) looking?
- Does this reporting of the Business (e.g.: to the ATO) reflect its online “value”?
- Where is the Online Strategy at right now vs. where does it want/intend to be?
- If it relies solely on YOU, what steps need to be taken to reduce the risk/potential damage?
- Is there the option to do both ie build/acquire to grow and then Exit once all in place?
- Alternatively, is now the prime time to acquire an Online business to help fill gaps, if that’s possible?
- If looking at a Buy option, will acquiring a website get the Business there more quickly?
In order for you to Start with the End in Mind TODAY, what has to happen?
Based on where the Business is now and what is wanted long-term, will determine the gaps to be filled.
By all means contact me if you want to talk any of this through…
by theEmother | Mar 17, 2014 | build a Mother of a Business, business ideas & thinking, Consultant EXIT Options, 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, the business model
Often I get asked about “when is the best to sell my business”? And how to do so?
The other important question, which is often not asked, is “when should I start to think about selling”?
In my experience, it is best to work backwards!
So, here are some of the thinking questions to consider:
• If selling, what asking price will be required when ready to execute?
• How far off is that, realistically?
* Are you prepared to hang in there until the price is reachable?
PLUS, and equally as important…
• What will you as the current Business Owner do post Exit?
• What will be the implications for business/life partners?
• If the Business is your “identity”, what then?
How to Exit? There are a number of possible Exit options e.g.
• Sell
• Management buy-in
• Family handover
• Partner buy-out
• Vendor finance
• Franchising
• IPO
• Pack up and walk away!
• Or any hybrid of above
When to Exit?
When you’re comfortable with where your business is at in addressing above.
Only then will you be ready to seek feedback from the market.
To make this happen, who needs to be involved? Do you have access to the following specialists in Exit?
• Trusted Advisors
• Accountant
• Banker
• Business Broker
• Business Advocate (if acquiring)
• Board member
• Franchising specialist
• PLUS identify who might be interested in buying the Business?
None of this has to be daunting! Setting YOU on the path of thinking about Starting with the End in Mind TODAY, regardless of how old the business is that a few of these questions will prompt may be enough.
However, if you’re serious about having this conversation, please contact me when you’re ready.
by theEmother | Mar 7, 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, 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…
RANT: how can Buyers buy Small Businesses without lending?
Why do lending institutions make it so hard to borrow, especially in the $500,000 – $2mil range of borrowing required.
What happened to lending against the business as opposed to now having to use the family home. Sometimes, not even giving up your first born will suffice!
Yes, I understand all the logic. It however will not enable those who want to grow up to be Business Owners (especially when it may be the only option they’ve got, given they seem to be “unemployable”) to get in the market any time soon.
Surely someone one can come up with a product that can satisfy all requirements and be fair and reasonable.
I challenge those of you in the lending space to get clever and lateral and assist in the kickstart of a new chapter for many…
GOT A WEBSITE FOR SALE?
If you want to do 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
One meeting booked for March and details requested from two others. The main focus seems is on the custom-built technology platform this business runs on and the data it collects as a result..
BS49 Home Help…
One party is very interested. The potential has been well and truly revealed so it’s down to price and the level of comfort required to “pull the trigger”, as they say in the classics! Potential buyer now on the hunt for lending…
BS53 Balloons! and all that goes with them…
Such corporate appeal, so untapped. It’s waiting for the savvy operator that can see past the retail component and tap into it’s possibility as a warehouse servicing the larger players. Bit stuck on this one now!
BS57 Online Business
Signed good to go. It’s making money! Have received signed authority’s and in the process of developing the IM now. Stay tuned.
BS60 Advertising and Events agency
Authority signed. Good to go…
Others I’m talking too.. are you interested in?
- a particular event
- project management of large Melbourne events
- specialty educational toys
- niche in building trade (via Sellability Score)
- sales and services
- merchandise
- magazine
If yes, let me know as these revealed themselves this week…
Exploring the Sale Option?
GET YOUR SCORE…
Onwards and Upwards!
by theEmother | Mar 6, 2014 | build a Mother of a Business, business ideas & thinking, buy | sell websites, Finish Unfinished Business, Online Strategy incl. www, so you think you're in business, the business model
Of late, I’ve had quite a few website owners come to me saying they want to sell… excellent. But (following on from yesterdays post), when asked to “prove” what they’re telling me, they go very very quiet. So what’s going on?
Whether it be a business or a website, you still need to answer these questions:
- have you been able to make a go of your Business/website?
- Is your business/website making a profit?
- How does your Business/website make money?
Just because it’s a website does not make the answers to these questions any less important.
Having a website for sale implies similar criteria is being taken care of, as is for a business ie::
o a database of clients/customers
o systems in place (which may be technology driven)
o Google presence
o looked after its position
o growth potential
o automated, so it’s not reliant solely on the owner
o numbers that make sense and can be verified
o measurable ways of indicating how all of the above makes profit!
o assuming all goes ahead, options on how to make the sale happen
Bottomline = how can you prove what you are claiming?
Selling a website is no different from selling a business really.
It’s not called an Online Business for nothing!
The business model may be what’s different but the fundamentals still apply…
