Sunday, February 27, 2011

Love this, love her. "It's not the load that breaks you down. It's the way you carry it." -Lena Horne #Oscars

Saturday, February 26, 2011

Little league, business, shopping, play date, more business, more baseball, repeat...

Thursday, February 24, 2011

Luv this! :) @connectedwomen: Oh... the power of believing... in yourself... in your project... in your passion!

Size Matters!

Couldn't resist the title :). Seth strikes with another very provocative post... Enjoy!

[You're getting this note because you subscribed to Seth Godin's blog. www.sethgodin.com]

An atomic theory of business size The magic of the periodic table is that every atom is one thing or another--there isn't a stable element that's sort of oxygen and sort of nitrogen. If there were, there would be millions of elements, not a few hundred.

That's because electrons are (more or less) either here or there. The quantum levels ensure that there are no weird hybrids. A business follows a similar model. A local mom and pop store is just the right size for mom and for pop. The rent is low enough for the two of them to cover it. It's stable. They can't afford a $200,000 a year CFO. It wouldn't be a stable situation.

This is backwards but here you go: businesses that exist exist because the marketplace allows them to function at the right size. There were a lot of bowling alleys in the 1960s because the number of people you needed to run one plus the rent was just covered by the revenue you could expect. There was a right size, one that people were willing to take on and run.

The next level up from Mom and Pop feels different. Different furnishings, different rent, different payroll. It's not a little bigger, it's a whole quantum level different. And then down the street is the chain store, the one with 40 outlets and regional vice presidents and regional newspaper ads. Those things naturally go together, the scale is right.

Rightsizing your business is one of the most important decisions you can make. Just because you're thriving at one scale doesn't mean that a little more effort or a little more investment magically take you to the next. They probably don't.

Want to sell your popular donuts at Whole Foods? That's a quantum leap, not an incremental step.

Want your auction software company to become a public behemoth? It requires a leap of size and commitment, not a gradual creep.

Want to go from freelance work as a programmer to running a business like Fog Creek Software? Totally different list of requirements.

This is actually a good thing. It's good because rightsizing allows you to be profitable and live as a human. Those chasms in between are where people fall down.

One of the side effects of the internet revolution is that several new stable business sizes appeared. Groupon can do a billion dollars in revenue nationwide with far, far fewer employees than it took Target to hit the same level. A solo author can reach more people and generate more impact than she ever could have a dozen years ago.

These new sizes don't mean that the rules of quantum scale have gone away, though. That popular self-published author might be able to successfully employ six people, but there's no way she magically scales to sixty without something else changing. Several times I've run businesses that the market liked but couldn't find the right scale... adding more people didn't add a significant enough amount of revenue, and fewer people would have cost us our customer base. Just because it's a good idea doesn't mean that there's a scale that works.

When in pain, consider your scale. When you're too big or too small for the revenue or the impact you seek, you'll feel it in your bones. Leap.


Julie Gordon White, Principal
BlueKey Business Brokerage M&A
510.812.2233 Direct
License 01347013
www.bluekeybma.com
www.linkedin.com/in/juliegordonwhite

www.pinkbizbroker.blogspot.com

Sent Via BlackBerry!

Saturday, February 19, 2011

Gnomeo and Juliet? Hmmm. Well, at least I'm earning mommy points. Stand by for a review...

Thursday, February 17, 2011

What's Your Selling Story?


With the planned sale of your business, your reason for selling will be one of the most important “trust factors” created to reach agreement with a potential buyer. Selling your business to an outside buyer begins with a courtship. Don’t ask to get married on the first date, and never, ever lie about why you want to get to know them better! These exit options are the most common reasons for selling a business to a third party, listed in order of highest credibility:

Retirement
This is THE very best reason for selling! If you are of retirement age, a buyer will more readily accept that you are selling so you can start enjoying the next phase of your life- not just hiding from problems in the business such as the loss of a customer or key employee.

Health Issues
Health issues are another legitimate reason to sell. You don’t have to divulge all of the details of your personal health situation, but the more forthcoming you are, the greater likelihood that the buyer will believe your reason for your selling along with other critical aspects of the sale.

Death
Death of an owner or partner is a very unfortunate but legitimate reason for a sale.

Divorce / Partner Disputes
Divorce and/or partnership disputes are also legitimate reasons for a sale as long as they legitimately affect your ability to operate the business. If you site this as your reason for sale, make sure you have a good story to tell (and don’t mind telling it).

Loss of Market Share
Be honest about declining sales, because in a challenging economy, you can! Be forthcoming with information, share the down and dirty details and be prepared to present the plan to help the new buyer grow again as the economy rebounds. Also, be prepared to participate in the financing (promissory note or an earnout) to reap the upside benefits (more on promissory notes and earnouts later).

So to recap, make sure your reason for selling is legitimate and your “selling story” is practiced. Answering the “reason for selling question” honestly and convincingly will set the stage for an open and friction-free negotiation.

The above is an excerpt from the soon to be released book “EXIT! 12 Steps to Sell Your Business for the Price You Deserve” by Julie Gordon White.  Julie is a Certified Business Broker, Author, Speaker, Wife, Mom and Marathoner.  Julie lives in the San Francisco Bay area and has been quoted in major media outlets such as the New York Times, Wall Street Journal, Inc. Magazine and the San Francisco Chronicle. 

Wednesday, February 16, 2011

RT@TrainerComms: When dealing with the media, having patient conversations around trends and current issues is the way to success with them.
Sweet EXIT! strategy> RT @IncMagazine: Bought by @CocaCola, @HonestTea co-founder Seth Goldman will keep his job & name...http://ow.ly/3XOKT
"Don't go for second best baby, put your mind to the test... Express yourself." -Madonna (came to me in the shower, had to share :)

I <3 Seth Godin

"[You're getting this note because you subscribed to Seth Godin's blog.]

Make big plans ...that's the best way to make big things happen.

Write down your plans. Share them with trusted colleagues. Seek out team members and accomplices.

Shun the non-believers. They won't be easily convinced, but they can be ignored.

Is there any doubt that making big plans increases the chances that something great will happen?

Is there any doubt that we need your art and your contribution?

Why then, are you hesitating to make big plans?"


Julie Gordon White, Principal
BlueKey Business Brokerage M&A
510.812.2233 Direct
License 01347013
www.bluekeybma.com
www.linkedin.com/in/juliegordonwhite

www.pinkbizbroker.blogspot.com

Sent Via BlackBerry!

Tuesday, February 15, 2011

The Benefits of A Planned Sale of Your Business


As a business owner, you deserve to achieve the highest market price for your company. Begin planning your exit strategy with the same amount of thought and detail that you plan your customer service strategy or craft your marketing plan. By doing so, you will be able to walk away from your company knowing that you created something bigger than yourself and have the financial stability to provide for the next stage of your life. Creating and implementing an exit strategy for your business can be the difference between taking a long vacation or retiring in the lap of luxury after the closing!

A planned sale allows for an owner’s financial goals, objectives, and timetable to be achieved and not at the mercy of the buyers financial goals, objectives and timetable. A planned sale also allows you the opportunity to seek multiple potential buyers in the open market who will often pay a higher price than competitors or employees who don’t feel they should pay for infrastructure they already have or helped build.


Lastly, with a planned sale, you have time to understand the strengths, weaknesses, opportunities and threats of your company and make changes accordingly with the goal of significantly increasing the final selling price.

The above is an excerpt from the soon to be released book “EXIT! 12 Steps to Sell Your Business for the Price You Deserve” by Julie Gordon White. Julie is a Certified Business Broker, Author, Speaker, Wife, Mom and Marathoner. Julie lives in the San Francisco Bay area and has been quoted in major media outlets such as the New York Times, Wall Street Journal, Inc. Magazine and the San Francisco Chronicle.



Monday, February 14, 2011

Did you send your business a Valentine? Love your business, love yourself! If you don't LOVE it, then CHANGE it because you can! xoxo J.

Sunday, February 13, 2011

Just tightened up my "Daily Discipline" to ensure that I'm laser focused from minute 1: Clients, website, book, seminar, blog, tweet, fun!

Friday, February 11, 2011

Rev it up people! RT@BestSellerBob: It takes MASSIVE action to get an idea to lift off. Are you prepared to go full throttle in your life?
Maybe so... RT@IncMagazine: Solopreneurs, it may be time to reevaluate your business. Check out our survival tips. http://ow.ly/3UUAb
Legacy= Love: RT@IncMagazine: 80% of the world's businesses are family owned. Survive, prosper and hire family members: http://ow.ly/3UMSN

Thursday, February 10, 2011

Buy/Sell meetings flow smoothly when the goals of both buyer and seller are closely aligned. Ask questions and listen with both ears.

Wednesday, February 9, 2011

Senior night before the soccer game. Sometimes graduation can't come fast enough, but times like tonight make me want it to go so slowwww ;)

Tuesday, February 8, 2011

Watching Donald Trump and his entire fam on Oprah. Say what you want, he has raised smart, hard working and respectful children. Well done!!

Monday, February 7, 2011

Kaching! $$$ >BestSellerBob: Fuel your mind with Positive thoughts, even a single negative thought will cost you millions.

Saturday, February 5, 2011

Just treated myself to a Bake Sale Betty's Chix & Cole Slaw Salad after a beautiful 5K run. Feeling grateful for the weather and my health!