by theEmother | Apr 22, 2013 | business ideas & thinking, Sell Your Business, SELL your Mother of a Business
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.
But here’s the thing, a Broker can’t control the process of the sale nor the decision making capability of either the Buyer or the Seller. Some of these transactions take some time to get over the line, if it all. Some do not sell.
With so many factors affecting a Business Sale transaction, of which a Broker only plays a small part, to expect anyone else other than the Seller to cover the expenses of trying to sell their own business is just plain wrong.
No seriously, think about it?
How is that smart policy? if the Broker was in complete control of all parts and parties then so be it. If the Broker knew that the expenses were guaranteed to be collected at settlement, then so be it. But settlement can’t ever be guaranteed obviously so how is it smart to think that all will just work out in the end? No worries!
Hope is not a Strategy!
But if hope is the only strategy a Broker has got to work with, one could go broke very quickly…
A Broker is definitely part of the “A” team for a well-executed Sale.
Other members of the “A” team are your accountant, your lawyer, your financial planner, your estate planner etc…
Would you seriously ask any of them to cover your fees for you to sell your business?
by theEmother | Apr 19, 2013 | Buy a Mother of a Business, Consultant EXIT Options, EXIT execution, exit strategy, Finish Unfinished Business, Sell Your Business, SELL your Mother of a Business, so you think you're in business
GET YOUR SCORE!
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 in family.
*
BS11 = Hairdresser
Completed Sellability Score.
First chat April 8. Waiting on Stage 2 financials.
*
BS13 Specialist Equipment Provider
Completed Sellability Score.
Recommendations being pursued with favourable feedback.
ON HOLD
*
BS14 Leading Book Supplier
Completed Sellability Score
Financials received, more to come. Currently going through refinancing dramas!
*
BS15 #1 in Google for This Offering
Completed Sellability Score
Offer made and support decisions to progress awaiting advise.
*
BS16 Furnishings Importer, 60% owned
Completed Sellability Score
1st meeting (phone call) completed, Stage 2 financials due.
*
BS17 Specialist Offering
Completed Sellability Score
Analysis done and advised. Decision NOT to sell made.
Now using Sellability Score information as a Business Plan – in Reverse!
*
BS18 Beauty Salon
Meeting booked April 17
Offer made and support decisions to progress awaiting advise.
*
BS19 Leading Wedding Services Provider
1st meeting had, waiting on Stage 2 financials
*
BS20 Window Cleaner
“Sellability Score” completed
to be discussed next week
*
BS21 Business “Consultancy”
“Sellability Score” completed
to be discussed next week
The “Sellability Score” reports continue to dribble in each and every week.
More calls to make as a result and more emails to send 🙂
Onwards and Upwards!
by theEmother | Apr 18, 2013 | build a Mother of a Business, business ideas & thinking, Buy a Mother of a Business, entrepreneur trends (past & present!), EXIT execution, Finish Unfinished Business, Online Strategy incl. www, Sell Your Business, SELL your Mother of a Business, so you think you're in business, the business model
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? Because it gives them an issue on which to start down a sale price-discounting path.
Do you have to cover off every little thing to appeal to a potential buyer?
Well ideally, yes, but we know that’s not necessarily doable.
However, given the growing impact and importance of the whole digital | online space, “what is your Online Strategy?” is one question Business Owners looking to sell have to have a well-formulated and accurate response for.
by theEmother | Apr 8, 2013 | build a Mother of a Business, Buy a Mother of a Business, entrepreneurial mothers, EXIT execution, exit strategy, Finish Unfinished Business, MEinc, Sell Your Business, SELL your Mother of a Business, single parent l single mother, so you think you're in business, the business model, women in business case studies
After two meetings today and another phone call last Friday, the prospect of the motherhood and business ownership combination is causing some angst.
The main issue seems to be for those women business owners who are currently in business and are either planning to have a family soon or have just had their first.
They want to be able to have the combination work but just can’t seem to see how. The thought of having someone else brought in not look after their business is too much to bear. And, the thought of trying to run it full time as well as being the mother they want to be is just not fathomable.
So… what to do?
Sell it of course. That seems to be the answer. Then reality sets in. Has the business been set up as a asset, to run independently of the owner? Not in any of these 3 cases. So then what?
In the planning stage, this scenario can be sorted. It’s usually time and money that’s the prohibiting factor. When baby is already here, the mother wants the stress removed.
If only I had a chance to talk to them in the very early planning stages, to get all the planets aligned before embarking on the beautiful journey of motherhood.
If you find yourself pondering similar thoughts, please talk to me…
by theEmother | Apr 5, 2013 | Buy a Mother of a Business, Consultant EXIT Options, EXIT execution, exit strategy, Finish Unfinished Business, Sell Your Business, SELL your Mother of a Business, Sellability Score, so you think you're in business, TEMpting
GET YOUR SCORE!
If any of these tickle your fancy,
please contact me by emailing sell@theentrepreneurialmother.com
letting me know which one it is…
BS2 = Online Retailer
Heads of Agreement prepared, waiting for signatures… that didn’t come!
Plan B offer now on table.
PENDING
BS3 Waiting on the Seller
BS8 Waiting on Seller
No joy with previous broker, conversation resumed.
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.
BS11 = Hairdresser
Completed Sellability Score.
First chat booked April 8.
BS13 Specialist Equipment Provider
Completed Sellability Score.
Recommendations being pursued with favourable feedback.
ON HOLD
BS14 Leading Book Supplier
Completed Sellability Score.
Financials received, more to come.
BS15 #1 in Google for This Offering
Completed Sellability Score
1st meeting (phone call) completed, Stage 2 financials due.
BS16 Furnishings Importer, 60% owned.
Completed Sellability Score
1st meeting (phone call) completed, Stage 2 financials due.
BS17 Specialist Offering
Completed Sellability Score
1st meeting completed, Stage 2 financials received, analysis to be done next week.
BS18 Beauty Salon
Initial phone received and followed up
The “Sellability Score” reports continue to dribble out each and every week.
More calls to make as a result and more emails to send 🙂
Onwards and Upwards!
