Imagine yourself, like Warren Buffett, as you sit down to chair the quarterly shareholder meeting. It’s your company. You’re the controlling shareholder. Your management team is delivering their financial and operational reports to you. You ask questions, get answers, and offer the benefit of your experience. In every real sense, it remains your company.
At each meeting, your CFO hands you a check. Your quarterly dividend, typically, is larger each quarter.
Right now, you’re the President and CEO. Perhaps you’re the lead salesperson and best / only marketer. And / or, you direct the day-to-day operations. You are, as they say, the Chief Cook and Bottle Washer.
Even if you wanted to sell your business, you know that you’d have to sell at a discount. Or, that you would need to agree to work for and report to the new ownership for months – if not years – because so much, too much of the company’s value resides in you, what you know and what you do.
So, how do you get from where you are to where you want to be?
It’s easy to say. Put systems and processes in place. Hire and train people to replace you. Remove yourself from the day-to-day.
So…go do that…
…Ah, but where do you start – and how?
As is often the case, start at the beginning, with why you got into business, what it meant then and what it means to you now. You’ll want to simplify your business around its most profitable aspects. In short, you can use a straight-forward, eight step process: Business as a Holy Ride.
The do-it-yourself process does require effort, time and patience for detailed analysis of your business.
You may find it quicker and less costly to get help.
Our Confidential Help
Our job is to get the business you’ve built positioned so you can hold on to it and continue to reap income. And, at a time that’s right for you, to sell it at a premium rather than at a discount.
I’m Jack Beacham. I’ve owned and operated Aventure Works since 2001. I’ve been an entrepreneur since 1987. I’ve worked in startups and in growth companies. I’ve been inside companies in transition and in trouble. A number of my clients have gone through a similar sell versus hold decision-making process.
One of my clients, Bob, owns a company with almost $20 million in sales. Bob is no longer President. He successfully transitioned from owner-operator to owner-investor.
In this podcast, Purpose – the Moment of Power in Business, Bob and I begin, as I suggested earlier, with a discussion of purpose and meaning in one’s business, before turning to exit strategy and alternatives.
If you’re dealing with these issues too, I believe that you’ll find the podcast of interest. And, I hope you’ll find our eight-step process of use too.
I believe we can help to get you where you want to be with less time and effort.
If you would like to find out how we can help you, click here.