Thursday, March 31, 2011
My kitchen table in the morning makes me happy and ready for the day. Leave a comment below on your morning happy place :)
BlueKey Business Brokerage M&A
510.812.2233 Direct
License 01347013
www.bluekeybma.com
www.linkedin.com/in/juliegordonwhite
www.pinkbizbroker.blogspot.com
Via BlackBerry so apologies for typos!
Wednesday, March 30, 2011
Tuesday, March 29, 2011
Monday, March 28, 2011
Sunday, March 27, 2011
Thursday, March 24, 2011
From Suze to Julie :)
BlueKey Business Brokerage M&A
510.812.2233 Direct
License 01347013
www.bluekeybma.com
www.linkedin.com/in/juliegordonwhite
www.pinkbizbroker.blogspot.com
Via BlackBerry so apologies for typos!
Tuesday, March 22, 2011
Monday, March 21, 2011
Tuesday, March 15, 2011
How Long is Too Long to Get Your Deal Done?
Excellent post by Fred Wilson at www.avc.com. Visit Fred's blog and click on About (and join his list too- I did). I love what he says about growing companies and growing 3 kids- of course :)... Enjoy!
M&A Issues: Timing
Yet another post in the M&A Issues series. This one is about timing, ie how long it should take from the first serious conversation about a sale transaction until the closing.
I've seen acquisitions done in a week. I've seen acquisitions take over a year from the first serious conversation to close. And one thing I know for sure, if a buyer wants to take their time and feels like they can get away with it, they will.
Not every buyer wants to take their time. Many buyers want the transaction closed as soon as possible. In that case, the seller has alignment with the buyer and the transaction closes quickly.
Sellers usually want a quick close. They should. Selling your business is distracting and fraught with risk. One you decide you are going to sell, you should move with as much speed as you can while being diligent, thorough, and reasonable.
Six weeks from serious conversation to close is fast. If the company is "clean" and the buyer is incented to do a quick close and there are no governmental approves, it can be done.
Anything over three months is too long. The sale process starts to hang over the company and impacts the team, the business, and can lead to lasting problems. Team members get antsy. Resumes hit the street. Customers hear rumors and start thinking about plan B. The senior team loses focus. The company suffers.
If there are reasons why a close is going to take a long time (governmental approvals, buyer approvals, diligence, etc) an approach you can take is to sign a defintive agreement which obligates both sides to close and provides remedies if the close does not happen (including breakup fees). This is often the way deals are done with public companies that require shareholder approval.
Another key issue related to timing is the news leaking out. The longer the process goes on, the more likely the news will leak out. The reality is most deals leak and it rarely gets in the way of a deal getting done. Buyers hate it when the news leaks out because it can bring additional buyers into the process and make it more competitive. But most sellers should prefer a quiet process too. The less chatter about the sale, the better in my opinion.
I'm a fan of quick M&A processes, within reason. It takes time to do the required diligence and legal work. Doing a deal in a day is generally not a good idea. Doing it in six weeks is desirable and should be the goal. Anything longer than three months is likely to be problematic and will require a ton of management effort to manage the fallout. If you are a seller, you should specifiy the time to closing in the LOI and do everything in your power to make the buyer meet that deadline. And if you are buyer, you should respect the seller's desire for a quick close and work hard to make it happen on your end.
M&A Issues: Timing
Yet another post in the M&A Issues series. This one is about timing, ie how long it should take from the first serious conversation about a sale transaction until the closing.
I've seen acquisitions done in a week. I've seen acquisitions take over a year from the first serious conversation to close. And one thing I know for sure, if a buyer wants to take their time and feels like they can get away with it, they will.
Not every buyer wants to take their time. Many buyers want the transaction closed as soon as possible. In that case, the seller has alignment with the buyer and the transaction closes quickly.
Sellers usually want a quick close. They should. Selling your business is distracting and fraught with risk. One you decide you are going to sell, you should move with as much speed as you can while being diligent, thorough, and reasonable.
Six weeks from serious conversation to close is fast. If the company is "clean" and the buyer is incented to do a quick close and there are no governmental approves, it can be done.
Anything over three months is too long. The sale process starts to hang over the company and impacts the team, the business, and can lead to lasting problems. Team members get antsy. Resumes hit the street. Customers hear rumors and start thinking about plan B. The senior team loses focus. The company suffers.
If there are reasons why a close is going to take a long time (governmental approvals, buyer approvals, diligence, etc) an approach you can take is to sign a defintive agreement which obligates both sides to close and provides remedies if the close does not happen (including breakup fees). This is often the way deals are done with public companies that require shareholder approval.
Another key issue related to timing is the news leaking out. The longer the process goes on, the more likely the news will leak out. The reality is most deals leak and it rarely gets in the way of a deal getting done. Buyers hate it when the news leaks out because it can bring additional buyers into the process and make it more competitive. But most sellers should prefer a quiet process too. The less chatter about the sale, the better in my opinion.
I'm a fan of quick M&A processes, within reason. It takes time to do the required diligence and legal work. Doing a deal in a day is generally not a good idea. Doing it in six weeks is desirable and should be the goal. Anything longer than three months is likely to be problematic and will require a ton of management effort to manage the fallout. If you are a seller, you should specifiy the time to closing in the LOI and do everything in your power to make the buyer meet that deadline. And if you are buyer, you should respect the seller's desire for a quick close and work hard to make it happen on your end.
Monday, March 14, 2011
Sell Dreams, Not Products...Luv This >>>
Carmine Gallo, in a new book titled “The Innovation Secrets of Steve Jobs,” outlines Jobs “insanely different principles for breakthrough success.” I’m not convinced that Jobs’ world is that simple, but Carmine has boiled it down to eight principles, which I suggest every entrepreneur can learn from, as follows:
What is innovation? Innovation is a new way of doing things that results in positive change. It makes life better. Innovation can be big or small but the principles apply to many aspects of life. As such, The Innovation Secrets of Steve Jobs is more than just about innovation. It’s about principles that have guided Jobs throughout his life. Innovation is about thinking differently, making new connections and making things better.
Author Carmine Gallo offers not rules, systems, or steps to greater innovation, but inspiring principles that can be applied to your own situation to get you to think differently. The principles are:
1.Do What You Love. Think differently about your career. Jobs advises, “Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. ...My goal wasn't to die the richest man in the cemetery. It was to go to bed at night saying, we've done something wonderful."
2.Put a Dent in the Universe. Think differently about your vision. Jobs attracts like-minded people who share his vision and who help turn his ideas into world-changing innovations. Passion fuels Apple’s rocket, and Job’s vision creates destination.
3.Kick Start Your Brain. Think differently about how you think. Innovation does not exist without creativity, and for Steve Jobs, creativity is the act of connecting things. Jobs believes that a broad set of experiences broadens our understanding of the human experience.
4.Sell Dreams, Not Products. Think differently about your customers. To Jobs, people who by Apple products are not “consumers.” They are people with dreams, hopes, and ambitions. Jobs builds products to help them fulfill their dreams. "Some people think you've got to be crazy to buy a Mac. But in that craziness, we see genius" says Jobs.
5.Say No to 1,000 Things. Simplify. Think differently about design. Simplicity is the ultimate sophistication, according to Jobs. From the designs of the iPod to the iPhone, from the packaging of Apple’s products to the functionality of the Apple website, innovation means eliminating the unnecessary so that the necessary may speak. Jobs: "I'm as proud of what we don't do as I am of what we do."
6.Create Insanely Great Experiences. Think differently about your brand experience. Jobs has made Apple Stores the gold standard in customer service. The Apple Store has become the world’s best retailer by introducing simple innovations any business can adopt to make deep, lasting emotional connections with its customers. Use analogies or metaphors to think about a problem. By finding the similarities between two things that are unalike, your brain makes new and sometimes profound connections.
7.Master the Message. Think differently about your story. Jobs is the preeminent corporate storyteller, turning product launches into an art form. You can have the most innovative idea in the world, but if you cannot get people excited about it, your innovation doesn’t matter. Make your brand story consistent across all platforms: presentations, website, advertising, marketing materials, social media.
8. Confidence is a key to innovation. Jobs told Stanford graduates, “Don’t let the noise of others’ opinions drown out your own inner voice.” “Most important,” writes Gallo, “how you think about yourself and your business will have the greatest impact on the creation of new ideas that will grow your business and improve the lives of your customers.”
Gallo provides a lot of background on Jobs and in doing so has written an inspiring, down-to-earth book that will encourage you to imagine what you could do by thinking differently.
Catch Carmine Gallo “Live” in Singapore – visit www.aventis.edu.sg or http://www.aventisgroup.com.sg/Innovation%20Secrets%20of ...
# # #
The Innovation Secrets of Steve Jobs is more than just about innovation. It’s about principles that have guided Jobs throughout his life. Innovation is about thinking differently, making new connections and making things better.
What is innovation? Innovation is a new way of doing things that results in positive change. It makes life better. Innovation can be big or small but the principles apply to many aspects of life. As such, The Innovation Secrets of Steve Jobs is more than just about innovation. It’s about principles that have guided Jobs throughout his life. Innovation is about thinking differently, making new connections and making things better.
Author Carmine Gallo offers not rules, systems, or steps to greater innovation, but inspiring principles that can be applied to your own situation to get you to think differently. The principles are:
1.Do What You Love. Think differently about your career. Jobs advises, “Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. ...My goal wasn't to die the richest man in the cemetery. It was to go to bed at night saying, we've done something wonderful."
2.Put a Dent in the Universe. Think differently about your vision. Jobs attracts like-minded people who share his vision and who help turn his ideas into world-changing innovations. Passion fuels Apple’s rocket, and Job’s vision creates destination.
3.Kick Start Your Brain. Think differently about how you think. Innovation does not exist without creativity, and for Steve Jobs, creativity is the act of connecting things. Jobs believes that a broad set of experiences broadens our understanding of the human experience.
4.Sell Dreams, Not Products. Think differently about your customers. To Jobs, people who by Apple products are not “consumers.” They are people with dreams, hopes, and ambitions. Jobs builds products to help them fulfill their dreams. "Some people think you've got to be crazy to buy a Mac. But in that craziness, we see genius" says Jobs.
5.Say No to 1,000 Things. Simplify. Think differently about design. Simplicity is the ultimate sophistication, according to Jobs. From the designs of the iPod to the iPhone, from the packaging of Apple’s products to the functionality of the Apple website, innovation means eliminating the unnecessary so that the necessary may speak. Jobs: "I'm as proud of what we don't do as I am of what we do."
6.Create Insanely Great Experiences. Think differently about your brand experience. Jobs has made Apple Stores the gold standard in customer service. The Apple Store has become the world’s best retailer by introducing simple innovations any business can adopt to make deep, lasting emotional connections with its customers. Use analogies or metaphors to think about a problem. By finding the similarities between two things that are unalike, your brain makes new and sometimes profound connections.
7.Master the Message. Think differently about your story. Jobs is the preeminent corporate storyteller, turning product launches into an art form. You can have the most innovative idea in the world, but if you cannot get people excited about it, your innovation doesn’t matter. Make your brand story consistent across all platforms: presentations, website, advertising, marketing materials, social media.
8. Confidence is a key to innovation. Jobs told Stanford graduates, “Don’t let the noise of others’ opinions drown out your own inner voice.” “Most important,” writes Gallo, “how you think about yourself and your business will have the greatest impact on the creation of new ideas that will grow your business and improve the lives of your customers.”
Gallo provides a lot of background on Jobs and in doing so has written an inspiring, down-to-earth book that will encourage you to imagine what you could do by thinking differently.
Catch Carmine Gallo “Live” in Singapore – visit www.aventis.edu.sg or http://www.aventisgroup.com.sg/Innovation%20Secrets%20of ...
# # #
The Innovation Secrets of Steve Jobs is more than just about innovation. It’s about principles that have guided Jobs throughout his life. Innovation is about thinking differently, making new connections and making things better.
Sunday, March 13, 2011
Post Tsunami SF Bay... Erie Calm...
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!
Seth on Sunday: 7 Questions
Another winning post by Seth Godin! Not Charlie Sheen "winning" (that's actually "losing" or better yet "loser"), anyway...enjoy!
----------------------------
Leaders, do you let the facts get in the way of a good story?
What do you do with people who disagree with you... do you call them names in order to shut them down?
Are you open to multiple points of view or you demand compliance and uniformity? [Bonus: Are you willing to walk away from a project or customer or employee who has values that don't match yours?]
Is it okay if someone else gets the credit?
How often are you able to change your position?
Do you have a goal that can be reached in multiple ways?
If someone else can get us there faster, are you willing to let them?
No textbook answers... It's easy to get tripped up by these. In fact, most leaders I know do.
www.sethgodin.com
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!
----------------------------
Leaders, do you let the facts get in the way of a good story?
What do you do with people who disagree with you... do you call them names in order to shut them down?
Are you open to multiple points of view or you demand compliance and uniformity? [Bonus: Are you willing to walk away from a project or customer or employee who has values that don't match yours?]
Is it okay if someone else gets the credit?
How often are you able to change your position?
Do you have a goal that can be reached in multiple ways?
If someone else can get us there faster, are you willing to let them?
No textbook answers... It's easy to get tripped up by these. In fact, most leaders I know do.
www.sethgodin.com
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!
Friday, March 11, 2011
I second that! RT @WomenPresidents: Are you lonely at the top? Join the #WPO- a global org of 1,400 women CEOs! http://ow.ly/47gVL
Wednesday, March 9, 2011
Looking forward to presenting a case study for EAF today. Check out www.executiveadvisoryforum.com for premier peer2peer support.
Tuesday, March 8, 2011
! RT@LABizSeller: Confidence at U.S. Small Companies Climbs to Three-Year High, Survey Shows-Bloomberg http://t.co/VPGtxQ9 via @BloombergNow
Monday, March 7, 2011
Sunday, March 6, 2011
Friday, March 4, 2011
Looking forward to speaking @M&ASource on Social Media w/Dave Goetz www.czmarketing.com. He's the coolest & being in NoLA is double cool 2!
Thursday, March 3, 2011
This is critical to survive and thrive >> RT @WSJSmallBiz: Small businesses negotiate lower commercial-lease rates http://on.wsj.com/hAxCji
Wednesday, March 2, 2011
I agree! @Peekan: Looking 4 a peer2peer advisory group in the Bay Area? Check out EAF. Ann is a world class facilitator http://bit.ly/fMtpbv
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