You SELL Your Business, Now What?

I came across this article recently, making the very valid point that:

“Selling your business is a landmark event, often accompanied by emotions ranging from sheer joy to deep regret.  Proper planning can help ensure this is a time to be celebrated—years of hard work have paid off!—by alleviating the stress and anxiety related to your exit.”

And then it went on to discuss the virtues of this, but from a purely financial position only. There is so much more to selling a business than just the financials!

The very reason you’re selling it would indicate that. If it is just about “cashing in your Super”, then so be it. But what if it’s about:

  • getting out of a business partnership that no longer serves you or what you want to achieve with the business?
  • failing health being the prompt?
  • you actually wanting to do the something else you’ve always dreamed of doing, before it’s too late?

And just as importantly, what if this has been your “identity” for many years? What about this cash machine that you built, which has fed and clothed and schooled you and your family? This is not a decision to be taken lightly, or quickly.

These require just as much thinking as the financial considerations, especially when pulling on the heartstrings. Don’t let your head be the only ruler in this decision making process…

The How Manifesto: Why How Business Gets Done Around the World is the New Competitive Advantage, and New Metrics for a New Reality…

It’s all about the Business Model… as it always is…

“’How?’ is not just a question. HOW is the answer.

HOW. We’ll see that word a lot in this manifesto. Simply stated, HOW is the belief that in our more interconnected and interdependent world, we rise and fall together. The way to forge a better, more sustainable path of growth and progress lies in the realm of human behavior—HOW we do what we do. The days of “It’s not personal; it’s just business” are over. We truly have entered the Era of Behavior.

Leaders have become successful at measuring “how much” by out-selling and out-spending. But instead of asking “how much”, we should be examining HOW. How we behave, lead, consume, build trust in our relationships, and relate to others has always mattered but in an age when everything can be tweeted and blogged about and where there is no such thing as private behavior, HOW matters more than ever and in ways it never has before.”

By Dov Seidman for ChangeThis.com

 

Are you sick of 7 Steps this, and 5 Secrets that?

I know I am!
Especially when there appears to be no substance behind the claims.

No doubt, rolled up in amongst the stuff are nuggets of truth, and even a little real life experience. But across the board, most are guilty of well-intentioned theory at best. As for execution based on actual practice, seems to be sadly lacking.

Succession Planning is a case in point. By virtue of the use of the word “planning”, it is theory based – it has to be. What you need to be really mindful of is:

o       Is it actually a plan that can be executed?

o       Is it a plan you really want to execute, if push came to shove?

Planning has it’s role, but it is certainly not the be all and end all.

The proof in the pudding will always be when the DOing takes place.
And when you need the DOing to take place, do yourself a favour and instead find 7 Facts in this, and 5 Facts in that….

How to Make Your Business Franchise-Friendly…

Picture this… you’ve been running your home-based business for 16 years when you decide in 2007 that it could be a successful model for other entrepreneur mothers to follow.

After extensive planning and roughly $65,000 in consulting and legal fees, you sell your first franchise that year.

Within three months, it had failed. 
Now what???

This is the basis of one entrepreneurial mothers true story. To read what happened, and how she turned it around, click here. Enjoy!

How to Make Change Stick: Kill the Company!

“A decade into the 21st century, one thing has become clear: change is the new normal. In business, we call it innovation, and it’s a strategic pillar in nearly every organization. Thanks to a growing body of research and thought leadership in recent years, we’re learning a great deal about the individual skill sets behind innovation, and the organizational strategies that create disruptive growth. Yet in companies around the world, well-intentioned innovation initiatives crash and burn, despite a wealth of great ideas, copious research, and well-designed strategies.

Why? Innovation is not just about data analysis, plans and processes, and thinking outside the box. More than anything else, innovation is about change. And the truth is that as much as we’d all like to think otherwise, we are all hardwired to resist it.”

And how does that impact on the business decisions you make…
By Lisa Bodell for ChangeThis.com

Selling, Art or Science?

“Having been in the sales training business for more than 30 years, we have seen all manner of sellers; strong performers, average sellers, and those who just don’t make the grade. But behind all of this has always been the debate as to whether sales is an art or a science, almost to suggest that for some, sellers are born and not made.

The intent of this manifesto is to apply unconventional thinking to the question of art or science, not only resolving the issue, but also putting forth the significance of the answer from both a seller and supplier company perspective”

By Jim Holden for ChangeThis.com

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