Monday Wisdom: Success = Mindset + Confidence

Luv it! > RT @WomansAdvantage: Women business owners alone have $3 trillion in purchasing power and are the world's fastest growing market.

I'm quoted in today’s Woman’s Advantage Calendar!

I’m excited! My advice was selected for today’s page of The 2012 Woman’s Advantage Calendar out of over 5,000 quotes submitted!

“Your Exit Journey began the day you started your business.”

 

Important! > @smallbiztrends: 5 Easy Ways to Stay on Top of Your Accounting http://t.co/hB1FW9eS

You CAN Achieve Your 2012 Goals if You Just Do This ONE Thing... Click and Watch!

Hmm > RT@SynergyBizNWA: Busting The 10 Biggest Small Biz Myths http://t.co/ufzHC3DJ - Great list from @scorementors. #8: Success is about...

!!! RT @BizBuySell: RT @gaeblerdotcom: More small biz were sold in 2011 as the market for business exits... gains steam http://t.co/eN3vt05I

>> RT@EWMagazine: Are you a woman biz owner looking to build/expand into the global market? This new issue is for you: http://t.co/qYdOskEE

@ChipConley's (Joie de Vivre Hotels) SF party for his new book "Emotional Equation" is tonight. Will you be there?

Question: What are the 3 Needle Movers in your business this year? Show me yours and I'll show you mine ;)

<3 RT @MichaelEGerber: Facilitate work on dreams aligning biz & life into something deeper & more stunning than ever imagined. #Origination

Live your best lifestyle! RT @bizsugar: How to Build a Business that Runs Without You: Part 1 http://t.co/xjdZ6k0k

NYResolutions are awesome in my book. Even if they don't hold forever, that initial surge can launch you in the perfect direction!

Happy New Year and wishing you a Dreams Come True 2012! xo, J

Last 80/20 Tip: "The 80/20 Principle is clear. Pursue those few things where you are amazingly better than others and that you enjoy most."

More 80/20 Principle: "Everyone can achieve something significant. The key is not effort, but finding the right thing to achieve." ~R. Koch

"80% of achievement and happiness takes place in 20% of our time & these peaks can be expanded greatly." ~Richard Koch, The 80/20 Principle

GreatQ> RT @BestSellerBob: For 2012- What's your most important goal? What 1 goal fuels your passion and keeps U going thru the rough spots?

We could all be a bit more Zen in 2012 :) > RT@shelbycastile: New Year's Resolutions the Buddha Might Have Made | http://t.co/MYFO9Cc

"Don't blame, LEAD, and change the world." -Brendon Burchard (I heart this guy :)

Great Stocking Stuffer for the Business Owners in Your Life :)

20 Hours left to get the EXIT! Book before Christmas > http://tiny.cc/fzuhj

 (just like these 7 figure women business owners!)  

Hope you're surviving the holiday rush! Btwn year-end meetings and parties, I'm creating something REALLY POWERFUL for you 2012 EXIT!ers ;)

Luv this :) "All you need is 20 seconds of insane courage and I promise you something great will come of it." -Matt Damon in We Bought a Zoo

Business Owners & Advisors> Great Free TeleClass "5 Fast Fixes to Sell a Business for the Max in 2012" on Tues, 12/21, 10aPST. Sign up Fri!

Thanks for the follow @MichaelEGerber! I love your work! :)

If you're thinking about selling a business in 2012 (or just want to be really smart and proactive), I have some great free info coming your way. Register on the right so you don't miss any details!

I like this >RT @MichaelEGerber: "Every one of us are born to go do something very meaningful and... We don't even know it." #MEGdream6

Ready to get ready for 2012? Get www.TheExitBook.com's Jim Horan's One Page Business Plan. Simple but powerful! www.onepagebusinessplan.com

Is this YOU in 2012? > RT @SynergyBizNWA: Former Business Owners Express No Regrets About Selling Out -- http://t.co/Wqg27yAb

Tasty tip!! RT @ElizBecker: Tasty Business Writing. 30 Ways Social Media Campaigns are like Bacon - Radian6 http://t.co/HQYnClK via @Radian6

Make time 4 this> RT@SBAgov: Learn useful #tax savings tips 4 #smallbiz+mistakes to avoid during SBA's 12/15 web chat: http://t.co/fpsQzujG

More Monday Mojo } "The way you get started is to quit talking and begin doing." - Walt Disney

Good Monday Morning Mojo! } RT @Ali!Brown "Biz tip: Integrity --> trust --> relationship --> sale."

"I hope you find inspiration in the big things and love in the details.". --Adrienne Maloof

RT! @TennilleSmBiz: @SPANXinc Sara Blakely figured out the "K" sound is effective for a memorable Co. name. Who knew!? @IncEvents #incwomen

Wish I could! RT @IncEvents: Don't miss #incwomen-a swanky #NYC atmosphere w/savvy women like: @tinacwells, @IForTalent http://t.co/VS94DzCm

:( RT @@SynergyBizNWA: Dividing Small Businesses in Divorce http://t.co/mJwipIsV -- #1 Is the business considered "property" or "income?"

Absolutely! RT @BizBuySell: Start your year-end small business tax planning now. @PASBAaccountant has 6 steps http://t.co/lwKahqHX

"Think like a banker, act like an investor." Great advice for business sellers from an amazing wealth manager and my pal John O'Dea.

Advice from a UC Davis Alum: Don't Pepper Spray Your Buyers!

The national pepper spray incident at UC Davis has really hit home with me.You may or may not know this, but in addition to graduating from UC Davis in 1987, I also grew up in Davis, CA.  To add another layer, I'm also a wife of a police sargent (also a UC Davis Grad), so I understand that police are in a pressure cooker during a protest situation, but as a Davis Girl and Grad, this national black eye is really, really painful.  After reading more about the purpose of pepper spray, I learned that its primary use is to "handle unruly persons", which triggered my thinking about business sellers negotiating with potential buyers on the sale of their company.

If you are thinking about selling your business in 2012, whatever you do, don't metaphorically spray your best buyers with pepper spray!

Specifically, during negotiations, many sellers automatically take an aggressive position and assume that a buyer is trying to take advantage of them.  While this may be true at times, the majority of  buyers are seeking a win-win outcome because their bigger goal is to ensure that the business continues to be successful after the sale.

To make sure your don't douse your deal with cayenne pepper, keep in mind these 3 important tips:

1. Know the market value of your company.
Use my Back-of-the-Envelope Valuation Worksheet (register at ExitJourney.com for your free download), so you can approach the price negotiation from a knowledgeable position, not an emotional position.

2. Make a list of your non-negotiable deal terms.
Know and protect what's most important you, but be flexible on other terms that may be very important to the buyer.

3. Be transparent with the buyer, beginning with your reason for selling.
If you are open and forthcoming with information, you will set the buyer at ease and reduce their concerns right from the start.

Just like big cultural shifts in our world, selling a business will always be a stressful time. However, if you approach the negotiation standing in the other parties' shoes, the transaction is more likely to unfold positively and the training period after the closing will be a time of excitement for all about the what's to come.

I'm Julie Gordon White, Certified Business Broker, Amazon Business Best Selling Author of "EXIT! 12 Steps to Sell Your Business for the Price You Deserve" (and proud UC Davis Grad!), signing off until next time! For more videos, tips and tools, visit http://www.exitjourney.com/.

Very cool > RT @WSJSmallBiz: Raise Cash on Crowdfunding Sites: http://t.co/Py8fDHZl

Extra Extra! Get your FREE eVersion of my bestselling EXIT! Book on Small Business Saturday! Get all 148 pgs @ ExitJourney.com til midnight!

Selling the Empire’s of Oprah Winfrey, Richard Branson, Donald Trump, Martha Stewart and Simon Cowell

Today I was sitting at my desk and for some reason I started thinking, “If I were selling the business empires of Oprah Winfrey, Richard Branson, Donald Trump, Martha Stewart and Simon Cowell, what would be the marketing message they would want me to communicate to potential buyers?”. After laughing OUT LOUD all by myself in my office J, here’s what came to my mind (I’m still smiling as I type this!):

Oprah Winfrey
“This company has been an unexpected spiritual journey for me and my wish for the new buyer is that the legacy of living your highest life and best life would be continued for our viewers, our readers and for the amazing person that sees the value in this company and desires to take it to the next level.”

Richard Branson
“Building this company has been an amazing seat-of-the-pants ride for me and the next man or woman who takes it over better have their knickers on tight!”

Donald Trump
“This is THE most AMAZING and OUTSTANDING organization on the planet and anyone who wouldn’t pay top dollar for it is a fool. You’re fired.”

Martha Stewart
“You will never find a more neatly organized and categorized set of financial statements and business processes anywhere. In fact, every strategy, decision and tactic we have ever made during the history of this company has been documented and placed in color-coded binders, with a cross-referenced alpha-numeric labeling system and placed in a water and fire proof vault. Would you like some oolong tea and a scone while you thumb through the volumes?”

Simon Cowell
“If you are as borrrrring as a karaoke cabernet singer on a cruise ship, don’t even bother making an offer. Bloody hell. Next!”

I’m still lol! I’ve got to get out more often!

When the day comes to sell YOUR empire (small or large, it’s all relative!), what will your marketing message be? Be sure to make it provocative enough for someone to want to learn more and eventually sign on the bottom line, but resist the urge to overly “fluff” things up because fluff usually goes flat during due diligence.

I’m Julie Gordon White, America’s Favorite Business Broker, signing off for now.

Take care, talk to you soon! jgw.

"The deepest courage we can exercise is continuing to believe in our dreams until we make them come true." -Oprah, Oprah's Life Class

"There is a process for success. We must each figure our what that particular process is for our own life." -Oprah, Oprah's Life Class

"Your life is a reflection of the way you think. What you believe is what you become." --Oprah, Oprah's Life Class

"Only YOU have the power to make the changes you want in your life." -Oprah, Oprah's Life Class

Great fun today presenting on LinkedIn Basic & Advanced for #IBBA... Hunt me down at ExitJourney.com if you want the slides! #ExitJulie!

I'm looking forward to flying to Phoenix tomorrow to speak at the Int'l Business Brokers Association Fall Conference. Will I see you there?