If you didn’t own your company, but you were looking for a company to buy, would you buy your company? Let’s be more specific, if you were looking to buy a turnkey business that you could ‘simply’ step into, tweak a bit, scale further, and reap strong financial rewards, would you buy your company? Your reaction to that question tells you everything you need to know about your company’s current weaknesses and strengths.
If you were looking for a company to buy, would you buy your company? Your reaction to that question tells you everything you need to know about your company’s current weaknesses and strengths.
If you were looking for a company to buy, would you buy your company? As you thought about that question, your entire business probably flashed before your eyes. You may have visualized the newly released fiscal year financial projections that are running ahead of your budgeted projections. You may have visualized the production efficiency adjustments your team is making to your company’s core product, or you may have visualized the report being developed by your company’s ERG (Employee Resource Group) on ways to enhance digitization and use AI throughout your company to further enhance efficiencies, the customer experience, and profits. As a result of this exercise, you feel comfortable and confident in your business and in your leadership.
On the other hand, as you reflected on the potential of your company being evaluated for possible acquisition, you may have instead visualized your company’s less than stellar financials, outdated processes and equipment, weak leadership team, and weakening brand value with your customers. As a result, you feel deflated and at a loss. But don’t. You’re not at a loss. This exercise has helped you to refocus on what you’ve known are problem areas in your business. Because this is your company, it’s time to focus on cleaning up those aspects of your business that are holding you back from becoming the business you want it to be.
Why not clean your business up now, so when the time comes for you to sell (to a real buyer), liquidate your equity stake, or otherwise exit the business, you can clean up financially? Build a company you, and others, would want to buy.
Why not clean up your company now, so when it’s time to sell, you can clean up financially?
Copyright MMXXIV – Liz Weber, CMC, CSP – Weber Business Services, LLC – www.WBSLLC.com +1.717.597.8890
Liz Weber is an advisor to boards of directors, business owners, and C-Suite leaders. She’s a leadership, strategic and succession planning consultant, speaker, and author. She helps her clients focus on the right things at the right times to get the right impact. Learn more about Liz on LinkedIn!
