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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: management
Ambiguity Kills Value
Ambiguity kills value. That was a key point in a white paper from Orange Kiwi that I read over the holidays. Taken from the PhD thesis of Dr. Allie Taylor, the paper describes the psychological profile of entrepreneurs, and their historical … Continue reading →
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Exit Planning: Ripples and Ripples.
Every stone thrown into a pond creates ripples. Every advance in technology does the same. The late Stephen Hawking said that we were progressing too quickly. Along with other technology and science notables, he argued for a slowing down of development in … Continue reading →
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Succession Planning – Ownership Lessons
When selling your business to employees or family, ownership lessons rise to a special level of importance. Regardless of the financial, inheritance, estate or valuation aspects of the plan, the real question is how to prepare your successors to run … Continue reading →
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Business Buyers and Disintermediation
In the last post, we discussed the reluctance of many prospective business buyers to deal with the regulatory burden of being an employer or service provider. You may be among the lucky few whose profession doesn’t require licensing. Even better, … Continue reading →
2 Responses to Business Buyers and Disintermediation
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What’s Wrong with the Buyer Generations?
Many of the upcoming buyer generations can’t or won’t run Baby Boomer businesses. This is (or should be) of concern to sellers everywhere. “The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love … Continue reading →
5 Responses to What’s Wrong with the Buyer Generations?
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Minella says:
There are an increasing number of business owners in the environmental and facilities services industry who are preparing to retire.
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Gary Weinman says:
Good article , John. I enjoy reading your posts.
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John F. Dini says:
Thanks Gary. It’s always great to hear that folks find them worthwhile!
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App Development Company Delhi says:
Hey keep posting such sensible and significant articles.
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John McAllister says:
Trip Holmes of Sabre Capital, Inc. find this to be true. Especially if the three Ds are involved…dark, dirty or dangerous!.
Great post John. As we say at Successful Transition Planning Institute, you have to know your goals and address your fears to have a great business transition. Fears about disintermediation are not often raised by the owners, but a wise advisor must raise them. Otherwise the owner’s goals may simply be fantasy. For those owners whose business is likely being dis-intermediated, and cannot offer differentiation (or it is too late to do so without significant, risky investment), the owner can still set goals for winding down the business and protecting personal assets, as well as creating a meaningful life.
Scott: I ran into the same problem with ebay buyers trying to hold our feedback rating hostage by getting an undeserved partial refund. Our “full, unconditional refund rather than a “partial refund policy was set in stone during a rare 78 collection ebay sale. Although the collection was mint, untouched store stock and sold items were packed in expensive Uline 78 mailers several buyers claimed the 78″s arrived warped and wanted a partial refund. Statistically the number of “warped in shipping seemed way too high but we offered a full refund instead of a partial one to all buyers. Not one of them replied or sent their purchases back which made us assume they were all lying in order to get a refund. As Seinfeld said, “People, they”re the worst!.