Archive for April, 2013

How To Tell a Seller Their Asking Price Is Too High?

I’m sitting here pondering on finding a more effective and considerate way to do the following… (any suggestions will be greatly appreciated) Seller: “A price of $_______ is what I want.” Broker: “OK, great… so tell me, how did you arrive at your price? It helps us to determine whether we’re the right team to sell your business.” Seller: “I sat down with my accountant and this is what we worked out.” Broker: “OK great… so, lets look at what the historical and latest market stats on prices and multiples in your industry tells us.” Seller: “This will be interesting!”…

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Another Consultant, Another Exit Strategy Discussion….

Another day, another conversation with a Consultant who, when starting to explore Exit Strategy options, realises what they thought will be Saleable is not. Well, not in its current form anyway. So, once the wind had been knocked out of their sails, they began to ponder what the hell to do next? The first reaction was generally anger. Annoyed that what they thought they’d bought into with the whole start-your-own-business thing was in fact a crock! A crock in so far as, having been sold the live-the-dream business model, to only be reminded that this model is really just a…

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TEMpting: how Business Sellers and Buyers have been tempted this week…

  If any of the following tickle your fancy, please contact me by emailing sell@theentrepreneurialmother.com letting me know which one it is…     BS2 = Online Retailer Plan B – Due Diligence concluded,  to be settled early May PENDING * BS8 Waiting on Seller Change of plans due to recent events… ON HOLD * BS9 = Specialist Leadership and Talent Management Provider Completed Sellability Score. Looking to a 2013-14 kick off, getting all ducks in a row in the meantime. * BS10 = Specialist Offline Retailer Completed Sellability Score. 1st meeting completed, next steps discussed. Financials arrived, Stage 2 of…

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When a Change of Business Model Makes Sense…

When I started work with a Client today, we were going down a particular path, one we had been on for weeks… and then it changed. We continued to explore one line of thinking and it became obvious that those around the table were not really comfortable with where we were going. So with all bets off, we re-explored what we were doing. Only to come to the conclusion that we wanted to take a different road, one that seemed much more “right”! We will all sleep on it tonight and see what verdict we wake with again tomorrow… although…

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There’s a Wallet on the Footpath, What To Do?

When walking down Collins St Melbourne today, I came across a wallet lying spreadeagle on the footpath. What would you do? This is what I did… 1. picked it up 2. trawled through it in the hope of finding the identity of the owner 3. tried to make a few calls but no luck 4. did a White Pages search, based on Drivers License, and found the home number 5. left message on answering machine 6. “my name is Denise Hall and I have your wallet” was the message left 7. 2 hours later, my phone rings 8. 4 hours…

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Why Is It OK To NOT Pay Expenses Upfront?

How many professions do you know of that are expected to cover expenses upfront with no guarantee that they will be repaid? For inexplicable reasons (other than as a marketing ploy perhaps) there are some that have an expectation that the Selling of a Business by a Broker means all advertising fees to do so are to be covered by the Broker, for example. That is, if a Business Owner wants their business advertised for sale, then the Broker should pay for the privilege. The argument justifying this is that these expenses will be recouped once the Business is Sold….

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TEMpting: how Business Sellers and Buyers have been tempted this week…

  If any of the following tickle your fancy, please contact me by emailing sell@theentrepreneurialmother.com letting me know which one it is…     BS2 = Online Retailer Plan B – Due Diligence concluded, Contract next week PENDING * BS8 Waiting on Seller Change of plans due to recent events… ON HOLD * BS9 = Specialist Leadership and Talent Management Provider Completed Sellability Score. Looking to a 2013-14 kick off, getting all ducks in a row in the meantime. * BS10 = Specialist Offline Retailer Completed Sellability Score. 1st meeting completed, next steps discussed. Waiting on financials, delayed due to issue…

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A Website Does NOT an Online Strategy Make…

Another day, another conversation with a Business Owner who thinks that having a website covers off the Online Strategy question… IT DOES NOT! A website forms part of an Online Strategy, absolutely. But is it not the be-all that ends-all. In fact it is only a small part of the overall digital consideration. From a “Sale-ability” point of view, when asked about what digital | online strategies are in place, if “I’ve got a website” is offered as the answer, the potential buyer will start rubbing their hands together in glee (if it’s a business they want that is). Why?…

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How to Make the “Sale of MY Business” Decision…..

Not sure there is an actual answer to this, after all that! So why ask the question? Because it needs to be explored… This is such a personal decision. For all micro, even SME business owners, the answer has to be one that addresses the timing, the finances, the energy levels, the partnership situation, the family situation the other iterations etc etc at any given point in time. Exploring this question is more than just talking to your accountant. The answer is as much about YOU; backing yourself to be brave enough to let this business go and move onto…

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The Tale of 2 Cafes

Once upon a time, a small cafe #1 had the neighbourhood to itself. It opens and shuts as it pleased. It takes long breaks for the owners overseas jaunts. It has attitude. It is rather pricey. Perfectly fine. Until, along came Cafe #2. It opened and has almost never closed. It has not had a break. It has attitude. It is reasonably priced. Opened next door. Should the two be able to live in harmony? Of course. But Cafe #1 has got grumpy. Instead of delighting and servicing their own clientele into it, Cafe #1 is attacking Cafe #2 and…

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