During the life-cycle of building a Mother of a Business, it makes perfect sense to ask a number of provoking, asset-protection, risk-minimisation questions to get YOU, the Business Owner, thinking along the lines of “Start with the End in Mind” TODAY, regardless of how old the Business is.
Thinking Online Strategy is no different!
Taking this initiative is paramount for ALL Business Owners who seriously want to successfully transition the Business while YOU are in the best position to do so. With potential Business Owners asking more and more about Online Strategy and Execution as part of their due diligence, you cannot afford to be addressing it.
There are benefits to the business now as well, in the proactive nature of this action taken. This is in terms of knowing that a plan is in place, that it is being actively worked towards and that it will add to the value of the business at time of sale..
Where you don’t not want to entertain this discussion at all when in a position to influence the Exit outcome, you may instead think it will all sort itself out in the end. To some extent, this is correct. Ultimately, it will get sorted, but in the way YOU the Business Owner had envisaged? Possibly not.
If an Online Strategy does not feature has part of the business model, the asking price will be discounted.
Why? Isn’t that an opportunity for the new owner? Yes it is. But a Buyer is not going to pay you for the privilege of trying something that you have not.
Your Business may be the 2nd largest, if not the largest asset owned, therefore it needs to be handled with respect accordingly.
If you’re serious about having this conversation, please contact me.