The Butterfly: Transforming Your Business to Attract a Buyer
Regardless of your Designed Destination, the ultimate goal of your Ownership Conversion Plan (OCP) is to make your business move-in ready. This means taking steps to resolve issues that could potentially reduce the value of your business in the case of both an inside and outside transfer. Think of it this way: you’ve brought your business through the egg, caterpillar and cocoon phase and your buyer is looking for a full-grown butterfly. Taking the time to overhaul the seemingly minor details ...
Does the House Always Have to Win?
In roulette, the table odds are set so the house, the casino, wins more than 90% of the time when the ball rolls. This means that with each spin, you have less than a 10% chance of winning. Your betting strategies may change, but the reality is that this will not put you ahead of the odds, and you’ll likely find that the risk was not worth the reward.
Take this concept, and apply it to your business, the life you’ve worked so hard to build. Years, often decades of diligence, yet you put ...
Financial Spring Cleaning for Your Business
Spring cleaning isn't just for your home; it is essential for your business and your future. You made it past tax season. We have endured this extended, cold winter weather long enough. It's time to “Think Spring!” and get your business ready for a big cleanup. These tips also touch on "Turning Your Business Into a Butterfly" section in my Seven Steps to an Effective Ownership Conversion Plan.
Set Goals
Every business owner has ideas and aspirations that may or may not come to fruition. ...