There is a ton of opportunity in the digital marketplace. Everyone knows (or assumes) that this type of business offers flexibility, scalability, and the potential to tap into a global market. However, not many understand that not every business can be remote. Why? Because of the effort it takes to manage one. Dan Brownsher, CEO […]
There is much content on the internet with claims, and guarantees that make buyers more skeptical than ever. You cannot blame your customers for craving authenticity and transparency. They have the right to wonder if the experience showcased in front of them accurately reflects what awaits behind the paywall. It’s very hard to stand out […]
Have you ever thought about partnering with someone to jumpstart your business career? I have always thought that a partnership, particularly a 50-50 one, is a challenging one. Why? See, two individuals could have two different talents and styles of management. So, both need to learn how to work together but also work independently so […]
Several of my clients have complained over the years about how tricky it is to hold their direct reports accountable. Impatient CEOs try to fix perceived problems or lack of information by going direct to employees reporting to others. We call these actions end-runs and they have the potential to derail your company. When you […]
Following last week’s blog on “Fixing Your Financials“, Selling Your Strategy is the second of five grooming strategies. You should execute as many of these as you can when preparing your Buyable Business for an equity harvesting transaction. Selling Your Strategy is made up of seven tactics, the four of which are the subject of […]
In my upcoming book, that I will reveal soon, there is a chapter about grooming a business for sale including 5 strategies. The first of these I call: Fixing Your Financials. Here are the four areas to focus on to cover this strategy. Provide Three Years of Financials The financial statements are the first and […]
Here is a real-life story about what grooming your business looks like. János Gréczi is the quintessential self-made entrepreneur. He started importing apparel and nonalcoholic beverages after the fall of the Iron Curtain, and over time he developed the latter concern into a full-fledged beverage distribution business. Later he invested in production equipment using government […]
I believe there are three ways to grow a company. Each is valid and a fit for a different type of entrepreneur. Each has the potential to make a business buyable. Let’s look at each approach in turn. Build Your Business by Buying a Franchise The first approach is the “franchise prototype way,” advocated by […]
As you may have guessed a “Buyable business” is a company that others find valuable and would want to buy. Doesn’t that seem redundant? Why should anyone want to build an “unbuyable’ business? Why would they want a business that does not come across as valuable and desirable to others? Who would want to own […]
