Whether you are getting the business ready to sell, sell parts or all of it, or planning to grow it yourself, I invite you this morning to consider taking an important action. Especially since three quarters of businesses will be sold in the next decade and we have seen businesses drop revenue as much as 30% – 40% since the beginning of the recession.
Secure a non-biased, diagnostic report on your business. You probably feel that everything looks good for taking the business to the next level. “Looks good” is based on assumptions, attitudes, beliefs and concepts that need to be supported with facts, logic and data. Considering that you are not dealing with everything under your control, clarity of what is really going on leads to good direction, decision making and planning.   Market conditions, customer circumstances, shareholder demands, your customers changing needs and wants are the most important factors.
After the assessment, your vision, strategy and tactics need to be examined to ensure you can align and organize the business to support them and to bring home the results you want. The data should be unbiased – and usually we in the business are very biased. In a recent survey up to 60% of owners will hire outside consultants to help them. (I mean unbiased consultants who are not peddling their answers.)
We have always said there are only three things you need to focus on:
- Having an offering that matches what the market is motivated to buy.
- Having a way to access the market with compelling messages, a clear story and systems that find customers and keep them happy
- Having the five keys listed below of your operations organized to support the offering and story to the market.
Too often the vision, passion and product just fits with what the owner/organization wants and the vision, strategy and tactics are not aligned with other stakeholders. There are five key components that need to be organized and in sync that could make or break you:
- Marketing, sales and service – attracting leads and closing them when the prospects are ready to buy and keeping customers happy, engaged and returning.
- Technology – having the tools to be effective.
- Finances – managing money and having the resources to grow.
- People – with appropriate competencies so the business has the capacity to grow.
- Process and procedures.
Assess all these things to determine if you are structured to succeed the way your vision, strategy and tactics dictates. The systems you put in place to manage these five areas fuel your culture and cause the behaviors you get from people. An unbiased consultant who isn’t pedaling something can help you do a complete, solid assessment of where you are as a business and where you are going.  It shouldn’t be something we snarl at, are afraid of or put off. Every potential investor wants to know these things so why not get the answers and have the plan before they ask?
Too many of us don’t get around to this important action or we try to do it internally.. Again, we are too biased. Considering that we have home inspections and boat surveys before we invest in homes or boats, we at least should have a comprehensive report done on our business before anyone sinks more money into it. (Including you.)
Gus Sertage, from NextAction 2.0, consulted a year or two back on our business and we found him and his assessment to be very helpful. He was quick, inexpensive and introduced several recommendations that save us time and make money.Â
I asked him to help out many of our readers and true to form, he welcomed the opportunity and is offering to give our readership 60% off his business diagnostic valued at $395.00. He will run the diagnostic and will meet with you for 45 minutes to review a 22 page report of findings. You will have clarity. In a world where nothing is stable anymore, we need to see reality and opportunities. We need to face up to challenges, adapt and innovate in order to thrive. Gus will fine tune your perception of what is possible and come up with an action plan to tackle what is required.
Whether you are planning to sell your business or to keep and grow it, I suggest you reach Gus Sertage at gus@nextaction2.com.  I don’t usually promote others, but I feel today it could be the best action you could take to create the business and life you want. He will conduct the assessment, review it with you and you will be better prepared to sell or build your business.
Have a great week.
